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I have no reason to oppose regulation in these investments that are probably not even decentralised. So yeah, I'd say that overall, it's a positive move. Nothing has probably changed intrinsically as to how people go about trading crypto/investing in crypto, but it legitimises the act of doing so in Thailand and provides frameworks for companies to start up.
I really don't get why they would only allow citizens to purchase these investment tokens with other cryptos like BTC, and not allow them to purchase them directly with fiat. That doesn't make sense to me. I mean, it just means that people who are investing need to take one extra step in purchasing tokens...
The licensing thing is obviously needed, and has been done in other countries way before Thailand. Hopefully it won't be something too much of a hassle. Some level of competition is needed between exchanges in the from of new exchanges.
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"Bitcoin has now gone 173 days without a new high. Longest streak ever was 1,176 days (from Dec 2013 to Feb 2017)." So I came across this fact on twitter, and checked obviously (always DYOR haha) so what do guys think this says about BTCs current position, or what it does for the much anticipated bull run.
Bitcoin fell from $7500 to $6700 today. If bitcoin goes to $21,000 (new high price) it will be in year 2030 only Where's the correlation of that? Just because bitcoin fell by 10-15% in a day, doesn't mean that all of a sudden its long term growth is completely hindered. I simply don't see evidence of that whatsoever. I'm not expecting an all time high this year at all, but I do expect to see a bull market to take BTC prices to a new all time high early next decade. That seems likely considering the amount of institutional investors starting to come into these markets at the moment. I find it unlikely and odd that anyone would expect prices to be in a 12 year bear market, however. History has shown that these cycles usually take only 3 years or so before a new all time high takes over, and it makes sense, since adoption is continually increasing. |
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It's some interesting statistics for sure.
But of course, I can't say that I'm that surprised based on the amount of people that were flooding to a certain ponzi scheme last year. I makes me wonder how many people actually participate in a ponzi scheme willingly, and knowingly? Probably a lot.
These statistics are probably based off known ponzi schemes as well, the unknown ones that haven't bursted yet would contribute greatly to the figure.
Regulation in ICOs from governments to prevent these scams from collecting money could definitely legitimise the whole concept of it a lot more, imho.
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Hello,
I heard that there is a whale that moved 8k BTC to an exchange and that what caused the price to go down in addition of Stop-Losses being triggered.Is that true?What do you think? If it's true I consider it to be a big problem as we clearly see that whales manipulate the market easily which is harmful.
I think OP is referring to this news: https://www.ccn.com/mysterious-asian-whale-begins-funneling-funds-back-to-huobi/I wouldn't say that a whale moving coins around instantly means that the market is somehow being manipulated. Of course, the market could be manipulated by a variety of factors, but this isn't something that can be used as proof of "manipulation". Selling coins that is rightfully yours is something that can be done freely, doesn't matter if you have 8k BTC. It shouldn't be taken as a sign of anything, really. It could literally be someone needing money to invest in other ventures, or that he feels like that bitcoin is going to go lower, so he's selling now. It could be the reason why prices are down so much right now, but I feel like a lot of it is actually done by panic sellers themselves. I don't think there is any point in trying to monitor whale addresses, it's not a foolproof way to predict how bitcoin will move at all. |
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I've always thought that Sesame Credit was something that was privately owned by Ant Financial (parent company of Alipay)? Perhaps that parent company is in some way or form communicating with the government regarding this info, but this isn't something that is directly forced onto citizens, I don't think.
I mean, I wouldn't be surprised if this kind of social credit system was implemented in western countries later on.
If you buy stuff online, you can actually judge the seller's reputation a lot better, since their Sesame Credit rating would be showing. But all of this idea is based on full verification of citizens, which China has done an extremely good job of making sure that everyone has an ID card, and that ID card is used for everything online (Wechat, Alipay, etc.)
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Hey pro traders please show your technical analysis power in the poll and select real one  Yeah, I probably expect something at the current level. Potentially a bit lower as the market adjusts further down, but generally around the $6k range as we're really still in a bearish sentimented phase of the market. Prices shouldn't move that much this month though, but it does, it's going to be mainly downwards. We've seen another dip just happen today, which will probably test the support at $6500. If support at that level is able to hold, and prices bounce, then by the end of the month we'll probably still see $6k+ prices. If it doesn't, and prices continue dipping, then I think $5k is a possibility. Again, don't expect too much volatility, but it is indeed bearish out here. |
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You mean market capitalisation, right?
Because I haven't seen the volume of the entire crypto market, let alone bitcoin, ever above $100 billion per day.
But to answer your question, no, I don't think that the recovery is starting yet. Market sentiment is obviously leaning drastically to the bearish end still, and I don't really see this changing in the next few months at least. More likely than not, we'll see some more dips come our way and see BTC market cap momentarily dip below $100 billion before the recovery comes. There may be small rallies along the way, but they aren't going to be long lasting generally speaking.
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"Bitcoin has now gone 173 days without a new high. Longest streak ever was 1,176 days (from Dec 2013 to Feb 2017)." So I came across this fact on twitter, and checked obviously (always DYOR haha) so what do guys think this says about BTCs current position, or what it does for the much anticipated bull run. We know that Mt. Gox "helped" make that previous streak a reality, and current conditions are not even similar, there is much more awareness and players. But do you think the the overhype that took it to 20k and its followed drop for the past 6 moths (which caused major disillusions) , will make it more difficult for BTC to reach new highs?
I don't think that just because there is a dump, it'll make the recovery any harder. In fact, this dump was completely expected since the beginning. There is virtually no point panicking over losses right now, especially if you bought in near the peak, which you shouldn't have done in the beginning. I personally believe that being patient and waiting for the next bull market, which may take some months/years, is the best strategy right now for holders. I'm pretty sure that if you looked at historical data, having a few hundred days of bearishness across the market is completely normal. Gives time for the markets to consolidate, essentially. Happens every bear market, so I don't get why people are saying this one is any different (it's the end, etc.), it's absurd. |
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It's quite common in yobit, so common that I would definitely label them as a scam at the moment.
It's definitely something on yobit's end, though. If they provided you with a nonexistent TXID, then either it means that they have fabricated the TXID, or there were errors when sending the coins that they haven't fixed/transaction hasn't propagated through the network yet (probably the latter). Either way, only their site admin/management has access to tools to fix that.
Unfortunately, you'll just have to be patient and wait for a response from their crappy support ticket system. There is no one here that has contacts with the admin or anything like that, otherwise, there would be a lot less complaints than there is regarding yobit.
Hopefully you've learned your lesson, though. If you use yobit, prepared to encounter all sorts of issues, and not get a response from support ever.
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It's honestly just a matter of time.
Right now, as you mentioned, we are only seeing a fraction of people being actively involved in the bitcoin network. Awareness is already growing, but at least anecdotally, I don't see many people actually understanding the need for bitcoin, let alone actually adopting the tech.
Of course, as time goes on, this will change. Adoption rates should be on a continuous upward curve for at least a few more decades. Also, given the fact that fiat is inflationary, bitcoin's nominal price in fiat will be pushed up in the long run even if "real value" of bitcoin doesn't increase.
Based on previous bull markets that have resulted in ATHs, $20 trillion is very realistic, given a decade. However, it's not guaranteed. Take his words with a grain of salt. I do think that bitcoin will definitely see $1 trillion market cap by 2028, though.
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I remember there was a prediction back in March that said it would fall to $3000 by July.
July is the next month. And last year, August saw the start of the bull run that finished in December (with a little pause in September). This can repeat this year, but if not, then the bear market will last until May 2019.
Also, from 20k to 3k is a 85% fall, which puts the current bear market in line with 2011.
I doubt that a bull market will be able to spring out all of a sudden just because August last year saw some pretty big growths in price. I believe that a major bull run is just out of the question for the year. It seems like that based on historical cycles, bitcoin usually falls by around 70-85% from its peak before it bottoms within each cycle. And that should indicate that we are close to that figure currently, but probably not there yet. I'm not sure about whether bitcoin would hit $3k by July, but I think that the possibility of a sub-$6000 level at the end of the month or next month is highly likely. |
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I think that bitcoin will not fully replaced fiat, but instead, be a vital alternative that is used by a particular niche in the future that do not believe in the longevity of the fiat currencies that are issued by governments.
You only mention one aspect of the benefits of using bitcoin, namely, the anonymity. Having anonymity doesn't mean that someone is using bitcoin for money laundering. Anonymity is a basic human right, imho.
But also, bitcoin is a great store of value, and as such, will hedge against a potential fiat currency collapse. Situations in Venezuela is only getting realer, and I think in the future, bitcoin may actually pick up some of the things that gold used to do as a store of wealth.
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Hi all, this is something that I have had numerous conversations about and one that not many can agree on. I am fascinated to hear your opinions on... - How high can the value of BTC reach at its peak? (and maybe a quick summary why)
- When is that likely to happen in your honest opinion?
I respect everyone's opinion as i am sure it will differ drastically. If you want to know bitcoin's highest potential value, then it would probably just be the 'market capitalisation' of all existing fiat currencies combined. That would happen in the case that bitcoin was able to establish itself as the global currency, and be used worldwide by every single person. Obviously, that's pretty extreme, and I doubt it'll happen. But it's possible. But what's the point of measuring bitcoin's value in fiat if we're talking about the long term, honestly? Fiat is known to be notoriously depreciative and if bitcoin does skyrocket that much, it's unlikely that fiat would be worth anything, and would instead return to its intrinsic value which is zero. 1 bitcoin would simply be regarded as 1 bitcoin by that stage. |
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A financial crisis, whether in the form of hyperinflation (or hyper-depreciation) of the fiat currency, or otherwise, is going to come eventually. Just because we're in a period of supposed stability, doesn't mean that all financial crises is averted altogether. But who knows when it'll happen. Could be months, or it could be decades.
You just need to be prepared financially, in my opinion.
And to me, I think bitcoin's the perfect hedge for this coming storm. Gold/silver are good hedges as history shows, but bitcoin is simply a more convenient and divisible version of those assets. If you're not investing in bitcoin, at least use it as a hedge for your other assets for an event of financial crisis.
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Two main things that seems to be wrong with this exchange right now based on recent complaints:
- Coin developers are paying to list tokens, but Octaex isn't honouring their end of the deal.
- Users are not able to take out any funds from their balances
Apart from that, their support just seems unresponsive at this point.
These are very bad signs. It could just be a temporary issue but I think it's more than that. Considering that they are mostly anonymous and who knows where they're operating at, it's fair to say that they are exit scamming unless they come out and clarify. Hopefully everyone gets their coin back, but it doesn't seem likely atm.
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I made a deposit of aprox 10K USD in crypto and because of their technical problems the deposit didn't get credited as usual.
Now they tell me that they have to manually check it and that it could take a month or more and this if it finally gets credited, maybe I "lose" my coins, they don't assure me that it will be credited even having blockchain tx id proof.WTF
This is unacceptable, avoid this exchange at all costs.
You're talking about this coin( https://bittrex.com/Market/Index?MarketName=BTC-TUBE), right? Are you sure that you were not required to include any TXID that you were supposed to include within your transaction, that you forgot to? Otherwise, what was the reason for them to delay your deposits by so long? Did they state any reasons, or just said that they needed to "manually check" the transaction? I mean, if they didn't have any particular reasons for holding up your deposit, I would definitely find this to be untrustworthy. But I feel like there is probably some underlying cause of this. Either way, I wouldn't use Bittrex after they got rid of their legacy accounts, which was literally the only thing that was good about them that prompted people to even use them. There are much better options out there right now such as Binance, simply because Bittrex does not have a responsive or efficient support at all, and they aren't really getting as much volume anymore due to that. Yes, I included my TX ID.They say thay have to manually check it and if everything's correct credit my deposit.There is more people in this situation. One month or more really?? https://www.reddit.com/r/BittrexScam/Sorry, I actually meant "memo" instead of TXID. Like the ones you put in Bitshares, Steem and XRP transactions in order for an exchange to identify that it is indeed you who sent the transaction instead of someone else. If you didn't include a description/memo in your transaction that was required by Bittrex, then obviously, they'll need to check it manually. But if you did include that (which seems like the case), then why do they need to hold your funds for a month? Like they have the funds in their address already, just credit their users. Simple as that. The amount is clearly in the transaction for them to see. It's not that difficult of a process. |
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It really depends on your needs.
Coinbase could be good if you are able to complete identification and you just want to buy coins on a regular basis with your credit card, since they have one of the most convenient services for buying BTC with credit card. But they're definitely not the best in terms of customer support, or even rates.
Binance is a great exchange, probably the best at the moment, and even Binance itself is imperfect and flawed. Sometimes people have issues with it as well. But if you're looking to trade alts only, and not fiat, go with Binance. Whatever exchange you choose ,though, I would avoid HitBTC and yobit.
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Definitely not being paranoid. HitBTC has had a bad history, and scrolling around the forum on a daily basis I'd say a big portion of all exchange related complaints are regarding HitBTC. It could just be an incredible coincidence, or that HitBTC is indeed a shady exchange to avoid. (I definitely think the latter). Their whois info is anonymous, we don't know where they are actually located physically, there is no clear founder/CEO of the company. Just take a look at this thread that was closed by HitBTC essentially by saying 'it doesn't matter': https://forum.hitbtc.com/discussion/2669/hitbtc-where-are-you-located-and-who-is-your-ceo-responsible-traders-want-to-knowBased on them not fulfilling obligations for coin listings, their withdrawal issues, and their obscured company details, there is too much risk to use them. |
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You probably should include some PM logs in the form of screenshots to get him tagged.
It seems like that you just got flat out scammed. Even though he's a hero member, he does not have any reputation on the forum. And if you looked at his untrusted feedbacks on his trust page, you would have saw a lot of similar cases to you. Seems like that he is just making a living off pretending to be a developer, and not actually delivering or planning to deliver anything.
Sorry about your experience, but hopefully you've learned from this. The forum is filled with scammers out to take your money. That's why escrow is so important. Also, never approach someone for their services if their thread is locked, and they have no trust history on the forum. It's a common tactic that is used so that victims can't alert others about the scam.
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I made a deposit of aprox 10K USD in crypto and because of their technical problems the deposit didn't get credited as usual.
Now they tell me that they have to manually check it and that it could take a month or more and this if it finally gets credited, maybe I "lose" my coins, they don't assure me that it will be credited even having blockchain tx id proof.WTF
This is unacceptable, avoid this exchange at all costs.
You're talking about this coin( https://bittrex.com/Market/Index?MarketName=BTC-TUBE), right? Are you sure that you were not required to include any TXID that you were supposed to include within your transaction, that you forgot to? Otherwise, what was the reason for them to delay your deposits by so long? Did they state any reasons, or just said that they needed to "manually check" the transaction? I mean, if they didn't have any particular reasons for holding up your deposit, I would definitely find this to be untrustworthy. But I feel like there is probably some underlying cause of this. Either way, I wouldn't use Bittrex after they got rid of their legacy accounts, which was literally the only thing that was good about them that prompted people to even use them. There are much better options out there right now such as Binance, simply because Bittrex does not have a responsive or efficient support at all, and they aren't really getting as much volume anymore due to that. |
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