As much as I'd like to say history repeats itself, I think people generally learn from their mistakes in the past. When in the dot com bubble, people didn't really know what the outcome was going to be. They just kept investing. Not only is crypto dangerous to a lot of safe investors (which I think make up the majority of all investors), but it's very technologically dependent, so many people are drawn away from it. I don't think crypto markets will have the same market cap as the dot com bubble sometime soon. |
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1) The rich investors knew the crypto market was going to plunge just before the SEC meeting. 2) They sold off their stocks (down 9% or so since Jan 22) anticipating the crypto plunge 3) They now have funds available in their accounts to play the crypto market. 4) Crypto market will go to astronomical levels it has never seen before, like 100k+ for BTC. 5) Media will talk about it nonstop, and ignorant masses (like I was a month ago) will invest buying at market price 6) This will become the new bubble. Huge one. 7) The intelligent advantaged seasoned rich traders sell off and play/milk the market daytrading (with assistance of bots & computers)  bubble pops 9) Huge transfer of wealth, yet again from the ignorant lower class to richest people. Just like the tech bubble, housing bubble -- now the crypto bubble. Just a thought anyways  Uh, I'm very skeptical of this. If even a majority of the stock holders know about crypto, they probably want to stay away from it. Everything on the stock market is much much further away from the volatility of cryptocurrencies. Plus, I'm sure that if anyone was thinking about getting into crypto (given that they knew how to purchase it with minimal fees), then they would be pretty nervous about how the recent drop went. It wasn't a pretty site for anyone, and I'm positive it scared a lot of people away. |
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Many friends of mine which I convinced them to buy a minimum of 0.01 bitcoin or to use their devices to mine because some of them have the AMD Ryzen 1700x processor which makes about 1 or more dollars daily are haunting me now because they think that bitcoin will be memories like the dotcom was in the year 1997-2000. I just read on Wikipedia for thedotcom and I think they are not the same as bitcoin because bitcoin relies on blockchain technology which is better than dotcoin.
Any arguments from the forum to shut their mouth because I am starting to get bored and pissed by their behavior, I helped them while they think I cheated them.
Well, ideally you probably told them that it's a complete risk when they put their money into bitcoin. Graphs and charts are pretty, sure, but they don't really mean much in terms of the price fluctuations, especially with bitcoin. I hope you told them that the price is governed by the investors. If you didn't, I'd have to say you pretty much screwed them over, even though they should have looked into it themselves. If you did, just say that you told them to be careful with their money. It's always a possibility that bitcoin will experience large-scale growth, especially if there are new technological developments coming up. |
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I actually do believe that bitcoin is a little too complicated for the average Joe. The average person skims over things -- doesn't really look into things well. I think a lot of those "average" people were the ones who were dumping their money into the cryptocurrency markets without knowing the risks that they were partaking in. That alone tells me that a good amount of people don't even know how bitcoin and blockchain work. The first problem comes when people spite blockchain because of bitcoin's economic success. They should know that the two aren't as related as they think they are. |
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Hi to all, We recently launched a new cryptocurrency tracking website called CoinLib that helps you track all your cryptos in one place in an easy way. It features real-time price updates, your customized portfolio, alerts, coin price comparisons and lots of other cool tools and features. We believe that although there are several cryptocurrency tracking websites out there, there’s still something missing. We’d love to hear any feedback and have you onboard. Below: - Home Page: https://coinlib.io/- Bitcoin's Page: https://coinlib.io/coin/BTC/Bitcoin- Comparison Page ETH & BTC: https://coinlib.io/compare/2018-01-01/ETH/BTC- Widgets for site owners: https://coinlib.io/widgetsI really do like the layout of this site. It's really crisp and clean, looks professional overall. I guess one comment/question I have for you is why would I use this over coinmarketcap? I've been using CMC for a while to track prices and it's worked perfectly for me. Why should I use your application instead of a more reputable site that I can find online? In general, I think this is going to be a major issue you're going to run into in terms of competition for usage. |
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Hey there, I am a blockchain developer and most of my work consists in auditing Blockchain projects, criticising their use-case and proposing solutions and guidances. What really kills me is the amount of scams and useless projects based on economic scarcity, fomo and proof of stupidity ( https://www.youtube.com/watch?v=p1ZYGuJXBQE) The reasons why we have to fight scams are fairly simple: - Scams attract regulators - More scams attract more scammers - People invest blindly but if given the change to understand a project based on a professional analysis I'm sure many will think twice between sending those guys money. - You know what is worse than exit scams? Shell projects that never get finished or have no traffic because their use case is pure BS. I propose listing all the ICO scams here that can't correctly justify their use case, presumably scams: * EQUI https://bitcointalk.org/index.php?topic=2888110.0The guys weren't able to justify the use of their token and don't answer to critics and questions. More importantly they provide a passive return on investment which fails the Howey test ( http://consumer.findlaw.com/securities-law/what-is-the-howey-test.html). They use their public image in order to attract suckers. Based on their use of proceeds they reserve 30% in order to develop the platform. 30% of 72 million to develop a react website with a postgres database and link it to infura (i assume they didn't even think about that). Laughable at best. I definitely think that the ico scams bring a huge bad rap around the entire cryptocurrency markets. People don't even want to look into what and how cryptocurrencies work, they just act on a whim after they hear news about some random coin. Not all ico's are scams, and that should be obvious because some are very promising projects that should be supported for the future of blockchain and technology itself. I like the list that you made. It's really simple and hits hard on all of the major points. I'm sure there's a few threads about ICO scams here on the forum, but if you have too many you'll run into issues with people falsely accusing others. |
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I am considering taking a proportion of my business turnover in BTC-my main question is really, suppose I have a product that I want to sell it's retail is $10k, assume that 1 BTC is worth $10k so it's simple I take 1 BTC, now suppose BTC shoots up overnight to $15K per BTC OR falls to $5k per BTC, how do I hedge against these swings in BTC;s value?
I highly suggest staying away from bitcoin as a payment form for products that are significantly priced. Right now, it's too much of a risk, and bitcoin has always experienced volatility in the past. It's really tough to get around. I guess one thing you could do is make the payment scale with bitcoin so that it stays at a fixed USD price. That's the only real option that I see for you. This will cover everything you want to, but it'll drive customers away because of the volatility. Obviously, they don't want to pay more for something they can get for less if they wait. I just think that you should use other forms of currency especially right now, as bitcoin is not in the best spot. |
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"Bitcoin is down, crypto is down, everything is down, this is the end, crypto and bitcoin are dead."
How often have you read the above in the last weeks? Let's look at some things in a bit more context here to really understand things. 3 months ago, bitcoin price was around exactly the price we're at today. A year ago it was at about 1k, that's a 600% increase since then. All this crash/correction has shown is that nothing can rise indefinitely and at an ever increasing pace.
Take a step back people and think about things logically, nothing else in the world would offer the same ROI that crypto has for the last year, do not let your greed blind you, the illusion that you could invest and the price would continue to rise without any resistance is dead but crypto is not.
I agree with what you've said here. I've read the statement far too many times, and I'm definitely questioning whether or not people were here just for the quick profits or to actually discuss bitcoin, blockchain, and altcoins overall. Of course, I understand that many people saw bitcoin as a way to get rich quickly. However, I just feel that it doesn't make sense that people saw this and instantly jumped into the coin without even learning anything about it. That's pretty much sheer stupidity. Also, people don't even want to take a look at the growth over time. You mentioned it, and it was definitely a huge amount over the past years. While I was surprised by when the drop came, I'm not surprised by how much the drop took out. |
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Let see how u people are thinking of btc
Bitcoin has always been dangerous in both directions. There's been drops and rises in the past, and this trend will continue into the future as long as there's a few people who support the system. Who knows, maybe the lightning network will have enough power to turn the negative turn over into a positive one. We just don't know right now. All we know is that people are getting nervous and pulling out as soon as they can. I take it as a good time to buy and hold. No matter how much I've taken out of bitcoin, I've always held a certain amount in case it was to rise again. I think that's in general something everyone should do especially with bitcoin. Again, there's just too much uncertainty right now and that leads to doubt from investors. |
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Here's why I think $6 trillion is completely reasonable:
1. Wall Street hasn't jumped in yet.
2. Big business still has its toes in the water.
3. There's widespread and mainstream awareness, but very little mainstream adoption.
4. We're going to see at least one governments currency collapse soon, with that nation switching to cryptos. That will begin a widespread acceptance of cryptos as legitimate.
5. The trend in the general population is anti central authority aka. big banks, governments, big corporations. Look at brexit, Trump, the rise of nationalism against the EU, etc. Cryptocurrencies are the embodiment of anti authority and giving the people more control over their wealth.
With so many catalysts, a 10-12x growth for this market is definitely a possibility.
What do you all think?
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@charteroakpublic
- a Telegram channel dedicated to providing leaks from premium sources like Palm Beach Confidential and more.
I think this is a pretty optimistic viewpoint overall. I don't think that in the next year or two that an entire government's currency is going to collapse AND that their new currency is going to be a crypto currency. 1) Crypto requires technology, and a country that has their currency fail is probably not going to have ample technology to support a crypto currency and make their entire population to use it. 2) I don't think a majority is anti-centralization. I think a majority don't even know the difference between centralized and decentralized organizations. Even then, capitalism is pretty dominant all around and that requires some centralization. |
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So it is year 2024 and the max BTC supply is reached at ~21M.
Wrong. We will be there approximately at the year 2140. The bitcoin as block reward or subsidy halves every 4 years that's way it will take much longer than you think. Will it be economical to continue mining BTC going forward?
Hard to say but someone should've discovered something that would make the production of electricity cheaper. And also someone should've made something significant in making mining more efficient. Is it possible that the S/W for BTC may be augmented to a semi POS type of system?
Not sure how to answer this but I doubt this will happen. Even though the difficulty might increase, isn't it possible that (even with the electricity thing) that the gpus that far in the future will be super powerful? What if they start mining coins without any issues at all? Does that change anything about how long it'll take to get to 21M or am I completely wrong? I don't know much about the workings behind mining and I've always wanted to know. I'm sure these are questions that others might have. |
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Here is a fun question for all of you who started in trading in crypto. I know this is a learning experience for all.
What do you wish you did or didn't do when you first started, trading, buying and selling?
What did you learn? that you should have done or not.
this could be fun
mine was traded too much of my BTC and should have held.
as I didn't know anything about trading at that time. now I know.
plus buying some coins at too high and wanting to just have it
now I am smarter, I wait wait till a dip and buy at a low point
now your turn
Everyone makes mistakes and it's often the case that if the mistake wasn't made, they could have been the next crypto millionaire. I started off my journey in Bitcoin back when it was around $200. I had around 3 BTC back then, but got pulled into a pretty simple scam. Ended up losing around 2 BTC in that. Another one would be a couple of ICOs that I could have invested into. I was very very close to putting in a good chunk into Enjincoin when it was announced. Ended up not doing it because I was lazy and didn't want to convert my BTC over to ETH. Would've bought at around 1-2 cents per coin. It recently hit 50 cents per coin. I guess one think to take away from this is to research before you act, and if you're on edge, act on instinct. Don't let things distract you! |
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Any one can answer the questions below?
- If I keep buying bitcoins in the US and selling them in another country, is this illegal?
- How often can I wire the money from overseas to the US and wire it to the exchange?
- Any amount of money will be captured by IRS or FBI?
- If all the money is my own, any problem? Let's see I use $50k to buy and sell, again and again.
1) It's likely legal. Just make sure everything is in compliance with the exchange's rules and I think arbitrage is in the clear. 2) I don't know how the banks will respond to that if you're moving around a large sum. Just be careful in how you do it. 3) Depends on how clean you are and the rules in the country. If you're moving around a lot of money and it looks suspicious, your bank will likely freeze your account. I don't know if they'd take a portion of it or not, but I assume that if you're in a country where BTC trading is frowned upon, it might be likely. 4) No, there shouldn't be any issues on that. |
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In an interview of public TV channel finance minister Arun Jaitley have said that he have announced "bitcoin is not a legal tender" but did not banned it. There is a committee which is investigating the matter and will come up with a major decision, which will be declared latter . Also government want to discourage people to investing in bitcoin.
For everyone following this thread, take a look at this article that came out 8 hours ago: https://www.google.com/amp/s/techcrunch.com/2018/02/03/psa-no-india-hasnt-banned-bitcoin-but-its-still-talking-tough-on-crypto/amp/Starts off with: "Reports of the death of Bitcoin in India have been greatly exaggerated." Note that the finance minister stated that it's not a legal tender but that the government is looking at ways to eliminate the uses of the crypto assets in illegal activities. Furthermore the government actually wants to use blockchain technology in their systems to streamline processes. |
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The market is down, especially disappointing is btc's behavior. The news on btc say sad things like that bitcoin is just a bubble that exploded and everything.. But not only bitcoin is having hard times. Most of top coins are as well. I want to know what the forum members think about all this. Is it really the end of nice and easy money? Will we ever see bitcoin worth $20k again?
I was saving some money in btc and it is quite depressing that a month ago I had about $900 and now every week I receive the payment from a signature campaign and see the sum in USD decreasing...
You have to note that the media portrays the current state of these cryptocurrencies. If they see Bitcoin going down, it's often news about why Bitcoin is worthless and why it won't go anywhere in the future that comes on the rise. When we're going up, there's good news surrounding the coin. With these factors in mind, just be sure to note that you don't have to be extremely pessimistic about the coin just because the only news you hear about it is bad. Don't worry, we don't know where Bitcoin is going. Q1 in general has been pretty bad in the past and although I can't say that there's a correlation-causation here, there's definitely hope for a strong rebound in the next quarters. Keep your eyes peeled and try to find any unbiased sources of news if possible. |
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Don't want my stash of BTC deteriorating. Can anyone help with these questions?  1. What can the support community do to maintain a steady state in the price of BTC? 2. What can we expect in the coming Q2 of 2018 for BTC - should we hodl, sell or buy BTC? 3. Is it advisable to hedge to USDT? Any known consequences??? People will be coming to their senses soon. The realization is that when cryptos are low, people can take advantage of the volatility and buy when they see the lows lose momentum. We've rebounded a good amount in the last 24-36 hours. 1) The community needs to decide if they actually support Bitcoin. If they do, they'll research more, get to understand what powers these crypto currencies, spread the word about them, and invest. If this happens, the markets will end up going back up. 2) I'd say hold until you see Bitcoin bust a good amount, sell if you think the coins going to drop even more, and pick it up at the low points. You'll get more BTC and buy at a good time. Rebounds will pick you back up. 3) Tether is an interesting project, but there's been an odd stigma around it. I'm not too sure about it, so I can't say much on the topic. |
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Just wanted to know where you guys think we are. Are we still in the early adoption stage?
At what stage of the dot com era would you put us at? Dial up lol?
I think we are at an adoption stage right now. It's very experimental overall though. We have a lot of coins coming up and they're testing whether or not blockchain is right in the field that they pursue. The recent dips are definitely harming the adoption phases. The only reason I don't think we're in an early adoption phase is because a good amount of people know about crypto and it's uses. They can spread the word. However, not enough people know the depth of crypto. The recent drops just make people gasp at the idea of using blockchain technology even though that doesn't really have anything to do with currencies. |
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Newbee here. Please guide me.
Which is more profitable in the long run, Crypto trading or online betting ?
In a way, they're both gambling. However, it just makes a lot more sense to stick with crypto trading because there's a lot more that you can do with crypto trading in comparison to betting. With betting, you have the chance to lose a lot of your money, especially in the early stages if you make a bad guess. With crypto markets, you can research an ICO or coin and predict what the coin will be at in the near future. You can act off that and split your money across multiple coins. Overall, that's why I think crypto trading beats out online betting. With betting you're pretty restricted in comparison to the many options and diversification you can get out of online crypto trading. Make sure to keep this in mind when you choose what to do. |
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Nitrogen sports will pay you for your nitrogen tattoo. First 10 people will get 0.1 BTC for tattoo, and the best tattoo selected from nitrogen stuff will get 0.3 BTC more, sounds crazy right? I didn't know where to post this, but this is about earning money and marketplace is the best place for that. https://nitrogensports.eu/blog/nitro-chat-got-a-bit-crazy/ here you can find more information about requirements. One guy already did it and post his work on youtube, take a look. https://youtu.be/55tRbm5YBWYThis is funny for me, I don't have tattoos and I don't think about making one now, what is about you? Who would do this from here for 1000 dollars? If you wish to do it hurry up just 9 more spots left. In as much as this is going to be fun, I still don't see any sense of purpose on this and what objective they seek to achieve going this kind of promotion for their business. There are several things to be tried in promotion but not this. I personally cannot even pierce my body to the extent of now engraving something related to gambling because of the money involved. They actually know a lot of people would take up the challenge though. That's the thing. People will get a tattoo and literally be a walking lifetime advertisement for nitrogen sports. That's a pretty big thing for just a thousand bucks as a one time payment. Even if the person doesn't get a tattoo right off the bat, he/she can easily tell his/her friends who may want to get a tattoo anyway. That word of mouth spreads, and instantly the name NitrogenSports gets knocked around multiple times. It's all a pretty strong marketing strategy. Even though there are benefits for the people who get involved, don't fool yourself; nitrogen sports is definitely trying to make their money's worth through tattoos as advertisement. |
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How can one cash out a large amount of bitcoins (or other crypto) without damaging the price too much?
If you're going to cash out a significant amount, you're going to definitely end up damaging the price. The only way I could see you not damaging the price is if you sell directly from peer to peer. If, let's say you have 5 friends who completely want to buy everything from you, then you could sell to them, and the bitcoin is still in someone's hands. People won't see a huge sell order and they won't try to pull out of the market asap. If you're going to use an exchange, however, you should be prepped for the fees too. I'm sure that there may be some dangers (especially stuff like exchanges ghosting your account). Be careful with how you cash out! |
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