Well, I think that right now is an excellent point to buy.

Even though the prices are indeed low, which is expected as the market is still in a period of mostly bearish sentiment dominating within the market, IMO any price below $7k per bitcoin in the long haul is a great entry point.

Instead of panic dumping, doing some dollar cost averaging with any spare investment funds is going to prove to be an extremely wise decision to make, imho. However, I do think that the bear market will last at least a few more months, and the prospects of gains in the short term is very unlikely. Be prepared to hold for the long run.

Exactly. As Marlboroza said, you don't need to look further than the promises that they make regarding the fact that you can make a hundred times more than what bank interest is able to give you on an annual basis.

If a site offers any amount of guaranteed ROI, especially this high, then they should automatically be classified as a scam.

It's probably not even a ponzi scheme, but probably will just take any investment and pull off an exit con as soon as the "ICO" ends.

Seriously, simple research and common sense does the trick on detecting most ICO scams. Based on the quality of the images in their team, I wouldn't be surprised at all if it was all fabricated. But plagiarism + promises of ponzi like returns is enough to stay away from this site already.

If certain restrictions are to be made in terms of accessing certain coins as an investment, then yes, they will definitely be marginalised due to it. And it's not a huge surprise that is the case either. We may see centralised cryptos be favoured by governments and regulators in the future because they can directly influence the network, instead of decentralised ones.

However, I don't see how Wall Street traders are necessarily playing any roles here?

The regulators, aka SEC are determining what they deem to be the most suitable regulations. Institutional investors can be manipulators in crypto markets, sure, but I don't think that they will necessarily directly have an impact on what coins are favoured by the regulators.

Interesting to note that the design of the site was so absurdly bad that it is laughable. Even the stolen images are shrunk in size and completely unclear in terms of resolution, probably in attempt to stop people from performing reverse image search their stolen identities.

Also, look on the ANN thread: https://bitcointalk.org/index.php?topic=3765954.0. Just scrolling through it, it seems clear to me that they're probably using some sort of thread bumping service as well as all the replies are done by newbies to members, shilling for the project.

This ICO has already been around for quite a while now, however, has still around 3-4 days before the ICO stage closes. Hopefully no one is dumb enough to invest within this time frame, as the OP of the ANN thread is already tagged. Definitely stay away.

Yep. When you have a currency supply that is not kept in check by one mechanism or another, it's really hard to justify why this currency would be able to retain its value in the long run and not implode or collapse in one way or another.

This is the exactly what fiat is. After the USD got off the gold standard, the government has had full control of the currency supply. And this is shown through historical data where fiat currencies have gone nowhere but down in value in the long run.

Bitcoin, gold, and silver are three of the best long term hedges against a fiat collapse/depreciation, and in my opinion, bitcoin currently would probably be the most practical and biggest emerging asset out of all three.

Honestly what else would you expect?

I mean, the volume pretty much corresponds with bitcoin's price movement trends. If you actually looked at the bitcoin volume, you'll see that the difference between the high and the troughs are actually not that drastic.

Besides, people tend to not give as much thought to bitcoin during bear markets. It's obvious that they would hold onto their coins instead of spending it as actively as frequently. The figures provided by these statistics only confirm that we're in a bear market, that's all. It doesn't mean that bitcoin's practical use is declining or anything like that.


I disagree. You can do whatever you want with your bitcoins, and it seems to be common sense to not spend as much when the value of your coins have plummeted.

I guess you'd really be looking for exchanges located in a country with a working legal system, and is also regulated and licensed. Exchanges that pop into mind would probably be like Coinbase, Bitstamp, Kraken, etc.

Obviously no experience with these things, but you're definitely not going to have the same sort of experience if you were to go down the legal path with an unregulated and unlicensed exchange e.g. yobit. Also, if possible, choose exchanges based on your country. International law suits are probably going to be a hassle if not unfeasible anyways.

Just because an exchange is licensed doesn't mean that you should trust it completely. They could still screw you over by asking for draconian measures of KYC documents, or freezing your account. It's much better to choose an exchange that not only has legality, but also has a good reputation of being honest and just generally treating their customers with respect.

Bitcoin is not a security.

And depending on who you ask, ICOs can definitely be classed as securities to some degree as in most cases, someone is directly selling it to you as stakes in a network or some sort of utility token, which is fairly similar to how traditional securities work. Regardless of this debate, bitcoin is definitely not a security.

He might have something to do with the ETFs not being approved, but apart from that, I don't think that his stance on ICOs are necessarily wrong.

Sometimes, diligence is needed, especially in the scope of ICOs as they are extremely risky and most are not even legit.. Of course, if someone was directly calling for bans on bitcoin itself, it would be a different story.

I think that the rally that ensued in the last month was nothing but a bull trap, and this is probably proven now as we've seen nothing but bearishness from the start of this current month again.

There is still the possibility that $6k will hold as the bottom, but I think that it's probably just as equally likely that prices are going to fall through that fall some time during this bear market. If there was to be a lower bottom than the one that we already seen, however, I don't expect it to be lower than $3-4k, which seems to me to be the lowest I can possibly see bitcoin go.


Probably not. A temporary rally in the market is barely "new life", and $20k-25k is still very far fetched at the moment given the bearish sentiment. However, if it was December 2019, then there is every chance that markets would recover to that level, after the bear market ends.

There's a reason why several of these gold backed cryptos have already popped up and pretty much has done nothing major.

I think that the primary reason is that the value of a gold backed crypto comes solely from the fact that you trust the custodian of your metals to keep it safe and not just run with it. You also trust them to run a full reserve instead of a fractional reserve. By having a gold backed crypto you're also handing over control over the entire money supply to the founder of the blockchain, as he is able to constantly add new units to circulation.

Essentially, this is going to be no different to centralised stablecoins like Tether, except with gold. I don't see how this not so trustless system is any better than bitcoin itself.

I personally believe that we're going to see the $6k support really get tested this time.

The rally previously up to the $8k has turned out to be a bull trap, which was pretty much something that I've expected, as we're still in a bear market.

Most likely, prices will probably continue to dip in the oncoming weeks, and I think that the $6k support being breached at some stage in the next weeks/months is absolutely possible, even though prices shouldn't go that far below the vicinity of the $6k support level.

Shorting seems like a risky proposition to do as it depends on the short term price movements to go entirely your way, but this is the general trend.

There is no chance that this is a legitimate site.

He's selling $100 Amazon Gift Cards for 50% off. The first huge warning sign is that they're a company selling gift cards at steep discounts. This is logically not possible. If the cards were legit and the owner was actually legit as well and plans on delivering it to you, wouldn't he just use it himself or sell it for more on the open market instead of marking it 50% off? Either the cards are fraudulent (carded), or, more likely, you'll simply get scammed once you send over your funds.

Don't use the site. There are similar scams in the past, with gift card selling sites. Buying from that site means that you have to send first without escrow as well, which is a big no. The locked and self moderated thread are also warning signs.

Bitpay, coinpayments, blockchain.com API, paybear and Coinbase are all options.

I would definitely stay away from Spectrocoin based on its shady past with multiple scam accusations launched against them. They don't seem to be a trustworthy payment gateway to use, especially if you were to deal with large volume as they may selectively scam you.

All of the payment gateways listed above are not perfect and has had their own problems in the past, which is why I wouldn't recommend a single one to you as the best. Do research on all of them and see which fits your criteria the best. And don't rule out open source ones as buwaytress said.

Just because market cap or price decreases doesn't mean that it's necessarily a bad sign for the future, or that prices are going to continue to dip. That logic doesn't work.

Having that said, however, I do think that prices are going to see further sideways movement if not further dips below the $7k level to test the support at $6k. There are virtually no bullish sentiment in the market at the moment, and a trend reversal in the short term is very unlikely.

To address your question, I'd say that $10k is probably out of the picture right now. Not only is there no bullish momentum as I mentioned, there is also a huge resistance at both the $8k and $10k level as previous rallies have demonstrated. Unless there is some major positive news like an ETF being approved which is very unlikely, then the chances of $10k being breached out of the blue is minimal.

The fact that he has bothered to open a new self moderated thread means that he is definitely scared of the negative comments coming in and ruining his scam. For that reason, I think that the chances of you getting your money back are extremely slim.

Why were you trying to buy HYIP scripts in the first place? You do realise that they are essentially just another name for ponzi schemes, right? And it's illegal to run a ponzi in most jurisdictions, I believe. You need to stop running or attempt to run HYIPs right now.

But addressing this scam, remember that for every purchase you make on the forum, always use an escrow. If you're not protected by escrow and keep sending first you'll continue to be scammed.

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Please use this scam report format and edit your OP with evidence:

Good question.

It does seem like that right now, even with all the institutional investors coming into the market which would have caused rallies last year, markets are unmoved by these pieces of news.

The primary reason to me is that the overwhelmingly high amounts of uncalled for bearish sentiment that is within the market because of the end of the bull market from last year. The market essentially dips, consolidates, and moves sideways without much vertical movements whatsoever. That's how historical bear markets have always been like, including 2014, the most recent one.

Positive news only takes effect on the price if the sentiment is bullish within the market, and people are proactively finding something to FOMO buy on, or overhype about. Some other user that I can't remember mentioned this as well in a previous reply months ago, and I completely agree with him. It doesn't happen in bear markets. It's one of the reasons why buying now is probably going to prove extremely wise, as prices are incredibly low, market sentiment is overly bearish, and even with some obvious institutional inflow, prices are still not moving much. Great time for long term accumulation.

I don't think that bitcoin or other cryptos need institutional investors at all to thrive. In fact, their decentralised structure mean that even without these major institutions support, it would be able to fulfill its purpose and survive as a network for payment processing.

I think that institutional investors will play a major role of pushing prices up in the long run, however, their services are most likely going to cater for the big players within the market or other institutions who like a piece of crypto, instead of the average user of bitcoin. Institutional investors are definitely going to be focusing on speculation, which is not always necessarily a good thing.

I sort of see this as a neutral thing. It can't be stopped, but it's not something that we need either, that's in essence what institutional investors (or rather speculators) are going to be. They're not gonna save anything, or drastically improve anything. They're in it to make profits for themselves.

In terms of protecting one's wealth in a hyperinflation/fiat depreciation crisis with an independent asset class, I think that bitcoin is really going to be the way to go as a safe haven to store your wealth for both the short and long term.

Even though right now, people may still think that precious metals are the true safe havens, once a real collapse brought by hyperinflation strikes, people will realise that bitcoin is decentralised just as gold, but is a lot more practical in transactions than gold. That could even bring in more adopters as a result. As bitcoin's supply is under controlled inflation instead of unregulated inflation in terms of fiat (every fiat has lost tens of times of its value from just a few decades ago), its value in real terms shouldn't falter when fiat currency's does.

But in a deflationary crisis, there really isn't much to look onto in the past, but it should definitely perform better than asset classes such as property and stocks, imo, and hold its value stable. After all, bitcoin was introduced directly after the 2008 recession, and gold and silver didn't actually perform that badly at all within that recession.

Is cryptocurrencies, or just bitcoin going to improve the US and Canada's economic welfare or condition all of a sudden? I highly doubt it.

Bitcoin is useful as an international and global currency with no central bank. I don't think that it's true to say that the United States and Canada's economy depended on cryptocurrencies, or that they are going to drastically improve due to it. Same goes for any other country, since bitcoin is completely stateless and there is no central entity controlling it the way fiat is controlled.

Bitcoin does benefit a range of people, regardless of their country or nationalities. For example, unbanked people can be helped greatly as bitcoin provides a means to save. Workers from remote regions can connect with global employment opportunities. etc. etc. It's not just restricted to countries.

Wow. Basically, they just disincentivised the use of international social media AND now have a "legitimate" reason to ban VPNs from being used in their country. Talk about killing two birds with one stone.

The question has to be asked, are they really trying to profit off the tax, which is completely unreasonable, or are they just trying to take a huge step towards restrict access to international media within Uganda? Do they really expect people to cough up "subscription fees" for using services that aren't even state owned?

I honestly don't know if this is just a poor attempt to boost government revenue, or there's some deeper meaning to it. Either way, I do feel sorry for the Ugandans that have to live under these conditions. Terrible.