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2761  Economy / Trading Discussion / Re: How to sell bitcoins on an exchange on: November 19, 2016, 08:23:16 PM
Maybe OP does not want to go through the hassles of verifying his ID because asides that, I've never heard of an exchange asking where any coin came from.
I have used a number of exchanges and never came across any that asks for source of coin before honoring my orders, so it is either OP is having something to hide or the association of the coins with Mtgox raised a red flag. I fault the op choice of words, they sound like half truth to me.

I wonder how I am supposed to sell bitcoins on an exchange. I have been considering several and have gone through the KYC/AML process for three exchanges. The problem is once I sell my coins they might ask me to prove where I got them from. Keep in mind I am not intending to withdraw the FIAT, I just want to sell high and rebuy lower, and withdraw the coins.

The problem with proving the source of my coins is, how the hell do I do it? I bought them on MtGox and they can't ask MtGox for verification. Even if they did, the coins have gone through several addresses over the years. I can't even trace it back to the MtGox purchase since they went through other exchanges (and got mixed).

So what is one supposed to do here?
I suppose you deposited though a wallet, it history should be a pointer to the source if that is really how it got to Mtgox in the first place.
2762  Economy / Trading Discussion / Re: which bitcoin trading platform is easy and reliable on: November 19, 2016, 07:15:24 PM
which bitcoin trading platform is easy and reliable
1. Every bitcoin exchange is advertised as secure, stable and reliable trading platform. Usually this statement is verified over time.
2. Simplicity is not the major feature you want to take into consideration when picking bitcoin exchange: security, reputation, lack of excessive KYC procedures are more important IMO.
3. Even the biggest bitcoin exchange can be compromised - we had already 2 major events like this: Mt.Gox fail and Bitfinex hack more recently.
Cryptsy should also make that list because it is the latest dead end exchange site that happened in the cryptocurrency world and dampened people's confidence in cryptocurrencies. One beaten, twice shy, so for me I hold account with a number of exchange sites and I only stop there whenever I have business to do with them and trade with only amounts I can afford to lose.
2763  Economy / Trading Discussion / Re: Head and Shoulders "Bottom" formations x3 on: November 19, 2016, 06:52:47 PM
Are those images really showing Head and Shoulder formations or Butterfly? If you say it is head and shoulder, mind pointing out which is the head and where the two shoulders at? Looks to me, you are mixing them up, though any trader that is conversant with pattern formations would agree both can be very profitable trading set ups, if spotted quite early and enough patience to baby-sit the formation, till the picture becomes clearer and "entry point" is triggered.
2764  Economy / Trading Discussion / Re: Ups and Downs ! on: November 19, 2016, 06:19:21 PM
What do you think about the ups and downs of the currency Bitcoin ?
Whether it's an advantage or a disadvantage?
It can become advantages for all of the bitcoin users while we were talking about the traders, but it was gonna other if we weren't talking about the trade.
Just a short example, The volatility was becoming the primary source of the trader which can make some profit for them. no volatility = no trade.
I don't quite agree with you, no volatility does not equal to no trade, the right thing should be no volatility, no profit and that means the market is stagnant. A stagnant market would hardly attract speculators nor investors attention, because a market like that holds little or no interest for them.

 The up and down movement of price is a natural sequence of things - up and down, short and tall, white and black, man and woman, etc and it all emanates from the forces of demand and supply, whichever that outweighs the other, determines the prevailing market condition. Basic Economics dictates that, when demand exceed supply, prices goes up and goes down, when supply exceed demand.
2765  Economy / Trading Discussion / Re: What do you do when BTC shoots up? on: November 19, 2016, 01:32:57 PM
Hi,

I'd like to know what do you think is a good strategy when BTC price shoots up and you feel it's going to come down again.
- hold on to your Bitcoin?
- Sell it for USD hoping to buy it again cheaper?
- Sell it for other crypto (in this case which would you choose)?

If you are.certain it will go back down, then sell your bitcoin then short it. You made profit when you sold,then another when it goes down. Then if it is already back down, buy again.  Just repeat the steps when the price shoots up again.
Not all said and done! If I notice an upsurge in price, I will not immediately sell off, my first point of action would be to ascertain, the (fundamentals) forces behind the upsurge and the technical analysis would explain better if that force is spent, like hitting a strong resistance or psychological level, then I may consider selling for USD to buy back when a strong support is hit. I may settle to buy cryptos that are in sync with bitcoin to sell them later, when their price mush have appreciated too.
2766  Economy / Trading Discussion / Re: Trading is unpredictable job. on: November 19, 2016, 08:43:58 AM
That really depends, however you can predict " a little bit" when you are experienced trader, and you feel comfortable with having such a job.
It is all about gains, but good, successful trader can get his "goal" every month, and he is never greedy- so if someone is well educated in trading, you can really live off from the trader's salary.
If you use technical analysis and you are good at it you could see the trends of the coin and in a way predict with some degree of accuracy the movement of bitcoin and profit from it.
A method is really necessary and when you have the data you can analyze it to predict the price movement of bitcoin.That is already the basic and must be understood by every trader who wanted to be successful in his unpredictable job. One thing is certain, our needs is regular but our income is not in trading, therefore we do not have to rely in it as our main source of income.
Nothing says people are not making a living off of trading the cryptocurrencies or fiats. Everything boils down to a trader's knowledge, experience and scale of trading. If you are a versed trader and with good enough trading capital, then managing your funds through informed market decisions would surely leave you with more winnings than losses. There is no way to not lose from time to time, but your knowledge and experience would steer one safe form chaos.
2767  Economy / Economics / Re: Bitcoin or gold? on: November 19, 2016, 08:20:16 AM
now gold is quite promising, moreover, it is accepted throughout society and is particularly suitable for long-term investment. but this time choose bitcoin I guess is a good thing, because it looks like bitcoin prices are rising, so it is nice if the investment in the current bitcoin
Why is the price of bitcoin rising in the first place? Because it has some attributes that makes people have faith in it and regardless of what the authorities think. Those attributes, like peer to peer transactions are fundamental and as such, would continue to propel the speculative and investment nature of bitcoin and that already is an edge over gold. That aside, gold already is having so much romance with the fiats, that the manipulative tendency of the authorities over fiats is sure to also play out with gold.
2768  Bitcoin / Bitcoin Discussion / Re: What would happen if BTC was Banned? on: November 19, 2016, 07:52:20 AM
If Bitcoin is banned, bitcoiners would be criminals and the exchange rate would go up. That's about it.
I think you meant to say if bitcoin is declared illegal across the globe, which is most unlikely, use of bitcoin would recede further into the dark web, strengthening anonymity and creating artificial scarcity. By that time, the governments would have lost it, because the scarcity would plummet the price of bitcoin, so much more people would be all out to go after it just like another gold rush.

A closer look at how the governments is handing bitcoin, indicates they are cautious, signalling they must have weighed these consequences and inclining to experiment with their own versions of bitcoin.
2769  Bitcoin / Bitcoin Discussion / Re: Can Bitcoin help poor countries? on: November 19, 2016, 07:10:25 AM
Bitcoin is not some kind of magic pill that can solve all the problems of the world but it can help individuals to protect their financial freedom.

When Satoshi Nakamoto created Bitcoin, the real intention was for Bitcoin to become this "magic pill". He hoped that Bitcoin will end the exploitation by the banking cartels. Still a long way to go, but if Bitcoin becomes popular, then it is going to be very bad for the banksters.
Even if bitcoin can help solve a lot of problems it cannot possibly solve all the problems and since bitcoin is such a new technology there is the possibility that new problems arise which are unexpected to everyone.

Bitcoin can only solve some monetary problems of people living in poor countries by providing them a chance to earn an extra income from internet if they can get to know it or if they have access to internet and computers, otherwise bitcoin can be of no use for them unless it becomes useful in physical world.
What you are saying invariably is that, all you know about bitcoin is that it begins and ends with earning of some extra income from the internet and that is rather unfortunate.

You need to see and understand bitcoin for the revelation and revolution that it is. If you have been following the trend, the technology upon which bitcoin was built is fast finding expression in so many issues challenging the society. Like the issue of trust, same technology is being adapted to create trust systems, which is badly needed in every facet of life, especially in poor countries where corruption has been the major clog in their wheel of progress.
2770  Bitcoin / Bitcoin Discussion / Re: Bitcoin woke up the Giants on: November 19, 2016, 05:45:26 AM
They're still not there yet IMO, bank transfers are still painfully slow and until that changes, I'd still prefer Bitcoin and even Paypal for practical use, meaning just sending money to someone.

And I think they are just interested in the technology behind Bitcoin, but afraid, I don't believe that.
They are interested in the technology behind bitcoin and not bitcoin itself because the decentralized nature of bitcoin means bad business for them, so now they are looking at how the technology can be twisted so that it would be business as usual.

The revelation bitcoin opened our eyes  to about banks, isn't something they can easily sweep under the carpet, they have been milking us dry all the while, but with bitcoin, we now have a voice to say enough is enough!
2771  Bitcoin / Bitcoin Discussion / Re: What will be the fate of Bitcoins in the hands of government coins on: November 18, 2016, 09:46:56 PM
Government coins can never overtake Bitcoin because:

1) Government coins are closed source
2) Inflationary (infinite supply)
3) The devs will suck compared to Core devs


You couldn't have said it any better! Those governments are simply chasing shadow by at one hand admitting their undying love for the blockchain technology, while at the other hand, pretend/deny the relevance of bitcoin and wish it dead. But bitcoin is here to stay, you and I know why they would rather the last is heard of bitcoin.
2772  Bitcoin / Bitcoin Discussion / Re: Difference between Bitcoin and real money? on: November 18, 2016, 02:37:03 PM
Whereas bitcoin was invented as a digital currency and exists purely as a mathematical object, it nevertheless is a real money. It is revolutionary and have more appeal than what other so called real money are having to offer. It is secure, can be divided into much more smaller units, transactions are nearly instantaneously since central banks and its agents - card companies are by-passed, resulting in very low transactions costs. How best can a real money get?
2773  Bitcoin / Bitcoin Discussion / Re: BitCoin Friendly Countries on: November 18, 2016, 02:14:14 PM
Which country has most number of bitcoin users, miners and vendors? And in which country bitcoin is accepted the most? Like in at institutes or super malls or stores etc.
Has such data been calculated and available on the world wide web?

USA has the largest number of bitcoin users for sure.

I`m not sure that USA is very bitcoin friendly. Sad

China dominates btc mining off course...
China and Russia sometime ago were clamping down on bitcoin whereas the U.S. kept sanctioning and promoting it. The turn around in acceptance and increased volume of trade in recent times cannot be discounted from the U.S. position in global financial markets and interest in technology, which is what has brought bitcoin thus far. Imagine what would have been the fact of bitcoin if the U.S. joined the bandwagon to abort it - thank goodness they did not!
2774  Bitcoin / Bitcoin Discussion / Re: What would happen if BTC was Banned? on: November 18, 2016, 01:13:21 PM
What do you guys think it would happen if all the governments in the world declared bitcoin to be illegal?
How do you think the community would react? What could be the possible solutions?
Though nothing is impossible, but things like the entire government of various countries of the world, taking one stand is certainly not one of those things or have a thing like that happened before now? While some may see nothing wrong with declaring bitcoin illegal, some others certainly would not.

Already that is the scenario presently playing out across the globe and it is evident that the ones that called bitcoin illegal obviously said so in error and are fast withdrawing their words. I am compelled to ask, how exactly can something that is global, decentralized and unregulated be established as illegal?
2775  Bitcoin / Bitcoin Discussion / Re: Will Bitcoin be replaced by another cryptocurrency? on: November 18, 2016, 12:45:32 PM
Bitcoin might not be replaced by anything similar in concept - what I mean by that is another decentralized crypto.
But there is high chance of disturbing BTC market by project like national cryptocurrencies.
I have on mind recent idea of Chinese Government - they are currently hiring blockchain specialists to help them launch new cryptocurrency.

https://cointelegraph.com/news/chinas-central-bank-hires-blockchain-experts-to-launch-cryptocurrency
This kind of replacement without any doubt is what the authorities have been nursing, but how disappointed they all would be at the end of the day. The wide spread acceptance of bitcoin was not for the fun of it, but hinges on the fact that bitcoin is a revolution that arrested the  financial colonialism people have been subjected to overtime and which is what the authorities are fighting tooth and nail to reinstate, but the people are wiser now.

Technology is evolving, so we might someday come into another coin that could replace bitcoin, but it cannot be anything built outside the foundation already in place in bitcoin, especially the ability for transactions to stay decentralized or it never would make it pass bitcoin.
2776  Economy / Economics / Re: possible government regulations? on: November 17, 2016, 11:40:05 PM

A law like does not seem to be necessary since any income you have is supposed to be declared to the tax office in your country even if you end up paying no tax you must inform of all your income.

That is true. What I do not like with government sometimes is that they are making the citizens as a milking cow. They are always thinking how to get money the populace. Goverment may have a good intention but not now. Smiley
Going down memory lane, it has always been like that, government are tax masters, they can hardly support anything that holds nothing for them. That explains their indifference to bitcoin and their earnest desire to come up with their own version of bitcoin, which without any doubt, would be more of a Trojan Horse. 
2777  Bitcoin / Bitcoin Discussion / Re: Can Bitcoin help poor countries? on: November 17, 2016, 10:36:10 PM
I don't think it can help poor countries. Bitcoin requires an electronic device using electricity then you need the internet to make use of it. If the country does not have this, then there would be no point using Bitcoins.

Yeah so whenever we want to help poor countries, we must give them not in the form of money but in something that is already consumable or usable.
You never help someone by giving them bread, instead teach them to bake and you have empowered them for life as well as taken lots of burden off your shoulders.

At any rate, the op is not all about the dishing of handouts to poor countries, but rather a question, seeking to know how bitcoin and the blockchain technology can be of help to poor countries. To that, bitcoin can be of help to poor countries in many ways than one, given its unprecedented attributes. Take its very low cost of transaction for instance, from the government outlook, it can effective beat down the cost of revenue collection and which would translate to lower cost in price of goods and services and extra funds for infrastructural development.
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2780  Bitcoin / Bitcoin Discussion / Re: Bitcoin woke up the Giants on: November 16, 2016, 04:44:10 PM
Banks may soon release blockchain based payment system but as they will be centralized people will just get lured thinking it secure just like bitcoin but those private blockchain network could easily be manipulated by banks and governments.

Banks don't love bitcoin they want to take advantage of blockchain tech to furnish their existing banking system which are prone to hack and DDOS attacks.
The guilty are simply afraid and would they ever stop throwing tantrums at bitcoin? All their sugar-coated words about their own version of blockchain is nothing but smoke screens to recolonize us, but it is a pity they arrived late, we know better now. The banks are agents of the government and their whimpering  is understandable, no one should take them serious though, it has been their selfish interest all the while.
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