By 2013 end, I read an article in Yahoo news covering big corporate employees demand their salary in bitcoins. But after that I never got any update on that. Just today I come across this amazing news, this is what I was expecting for years.... https://www.cryptocoinsnews.com/goldman-sachs-hedge-fund-bitcoinIf this will be happening in real time, I guess we may forget about worrying on ETF disapproval. When asset management companies will be covering bitcoin as part of their portfolio, unofficially people may start trading bitcoins how they suppose to do with bitcoin ETFs !? It is just hedge funds asking Goldman to cover Bitcoin. Hedge funds have almost no restrictions on what they can invest in. A lot of funds have been investing in alternate assets like Bitcoin for years. Then why such hype about the ETF, if the hedges funds can and are investing on Bitcoin? Because the ETF would have attracted pension fund money. The pension funds are huge, they dwarf the hedge funds - but they're only allowed to invest in regulated assets. |
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currently earning so little that it is not worth putting assets on loan
 ? My outstanding loans are between 0.1379 and 0.2999 % So the lowest has an interest of over 50 % per year (!) and the highest even over 109 % per year. I don't think that's little. Agree. Perhaps people are getting confused and don't realise that the interest rates quoted are per day? |
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very interesting and also a little bit sad article to read about bitcoin real usages in real world, which is we are aiming for!
maybe it is just me but it raises the question of "why now" in my head...
bitcoin has been around for 8 years, it has been used for nearly as much too. Gyft has been around for a couple of years now and Uber gift cards were listed there for a while and a lot more.... so why now that we are at the peak of fees they decided to put bitcoin to the test!
i mean this article could have been very different 6 months ago and remember that in the past 6 months the mass adoption was in Japan, things in US didn't change much.
Ever since bitcoin went mainstream in 2013, the press has been doing these types of stories, at least one a year. The first one was done by Kashmire Hill, see https://www.forbes.com/sites/kashmirhill/2013/05/01/living-on-bitcoin-for-a-week-the-journey-begins/She actually did a diary publishing every day for a week about her experiences. I remember how excited people were at the time - a whole bunch of redditors donated bitcoin to her (I think bitcoin was about $125 at the time). The press keep going back to these types of experiments to see what has changed, progressed since the original. The sad thing reading that original 2013 article, and then then comparing it to the 2017 one, is that we appear to have gone backwards. I think lots of vendors that enabled bitcoin in 2013, disabled it in the crash of 2014. Meanwhile the fees have shot up. It's not good. |
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The days of doing small purchases with bitcoin are over now. The fees have risen too much to make this feasible.
Bitcoin is changing more to a store of value in its current shape than a currency.
The problem is, there was so much hype a few years ago about bitcoin being a currency, that journalists now think it's a bit of a failure if you can't spend it on regular things. |
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This law has no effect on price, fucking read before commenting. It does nothing to legal holders and you would be required to declare what you own over $10,000 when crossing the boarder.
So people who don't travel much are safe? |
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Bitcoin fees have become too big now for day to day smaller transactions. I paid over ten dollars for a five hundred dollar value transaction and it took also twnety four hours plus to get through to the other side. So Bitcoin is only best used for bigger transactions in my view that is.
The solution is to persuade vendors to accepts alts like Doge. It's quick and has low fees and is perfect for use as a currency. The problem is persuading vendors to allow multiple cryptocurrencies. |
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Hi,
i'm trying to understand why all crypto and especially BTC is falling dow since 48h? It's because the fear of the segwit to come in several weeks? Is the chinese market trading low?...
I think this is currently the same big falling as the one of the previous 25 may.. it dropped of 33% in 4 days, now we see almost the same loss.. But i can't really know why.
Pierre
The reason is the Core/Blockstream are about to force a contentious fork on the blockchain. This is about the same as a ship hitting an iceberg. Maybe it will survive; maybe not. But in either case, it is very fucking bad. Blockstream thinks they own the blockchain and that they should be able to monetize all small transactions. They fucking ruined it. Go buy Ethereum now. Ethereum is the de facto world currency and monetary platform. Even Microsoft (and many, many other important companies) is investing large teams of people to work on Ethereum integrations. Ethereum is very well organized and moving forward with development. Bitcoin has been infighting for 2 years now - making no progress at all. How long are you going to wait around for a solution while the other platform flies like a rocket to the moon? Bitcoin holders are fucked. Especially once the fork hits. Do you really think a two year Bitcoin war and those 'leaders' at Core are what you want to bet on? lol. That is otherwise known as a 'pig fuck'. This. The risk is such that it makes sense to switch to fiat and wait and see what happens - which is why the price is falling. |
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http://www.cnbc.com/2017/06/14/despite-its-record-setting-surge-this-year-its-still-really-hard-use-bitcoin-as-a-regular-currency.htmlWith all the hysteria around bitcoin surging to records and possibly being the currency of the future, CNBC decided to put it to the test. Can one person live off of bitcoin for a week?
New York City may have thousands of restaurants and bars, but only a handful accept bitcoin. We made a lot of calls and reached out to several vendors to see if they accept the digital currency. We also leveraged "bitcoin maps" online which were not entirely accurate.
However, we did find a few eateries in the city who accept the currency directly - two of which are French restaurants in lower Manhattan – Le Village and La Serine.
Another option was using Gyft.com, a site which allows you to purchase gift cards to Whole Foods, Starbucks, CVS, etc with bitcoin. This ended up being tremendously helpful, but also highlighted the reliance one must have on third parties to get by just on bitcoin.
Another big takeaway? Using bitcoin can be costly. Checking out at vendors that accept bitcoin is relatively easy, but I ended up spending on average 40 percent more versus paying with dollars or credit card because of unfavorable conversion rates and additional transaction fees. For example, my ice cream sandwich at Melt sold for $5, but with bitcoin I ended up spending the equivalent of more than $9. The gift cards also come with additional fees.
Transportation is also a challenge. As a reporter, I am constantly on the go, traveling around the city to meet sources, attend conferences and coming on air from different studios. The subway is typically how I get around town. Unfortunately subways do not accept bitcoin. Same story for yellow taxis.
The third option (besides walking) was ride-sharing apps. I was able to buy an Uber gift card via Gyft.com. I ended up spending more time and money taking this roundabout way, but at least I could travel from downtown to the upper west side without walking.
After a couple days, I started reaching out to folks in the NYC bitcoin community. I found a bitcoin investor online who was wiling to sell me a subway card in exchange for bitcoin. I met him at Penn Station the following day and he gladly helped me out. This interaction proved to me that the bitcoin network is very supportive of one another.
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On Bitstamp at the moment it is $2542. So we're close.
Not sure what will happen when we reach it - if bitcoin falls below $2500 it will keep going. I think the next support is $1800 from memory.
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Cmon guys we all know they closed it because of the massive amount of spam/abuse that was going on. They couldn't just come out and make a notice like "we're sick of all you idiots rambling a bunch of nonsense shit 24/7, we're closing the trollbox!". They have to be professional at the end of the day and state the reason as a need for more support. lol
Maybe. Not sure why they had a trollbox in the first place - were they copying Btc-e and cryptsy? |
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That's a really interesting chart. I guess the smart money is trying to hedge by investing in alts in case bitcoin doesn't make it. This hard fork coming up in August is bound to make bitcoin holders feel even more vulnerable.
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It's really hard to say. I think the rise from Nov 2016 to Jan 2016 was pure speculation, which is why it crashed down when the Chinese news came through about exchanges being investigated.
This time feels a little different in that I think we have some genuinely new money and people coming into crypto. All the exchanges are under pressure trying to process and verify new accounts. New money generally means a higher price.
The only danger point I see going forward is this potential hard fork on August 1st. The exchanges haven't said how they'll handle it, so people might withdraw their coins (or sell them) rather than end up on the wrong fork and losing money. So if there is a crash it will be in the last two weeks of July.
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https://poloniex.com/press-releases/2017.06.07-Improving-Our-Support-Capacity/Withdrawals/Awaiting Approval
We are legally required to know the identity of our users and to maintain strict controls over how funds leave our platform. In addition, our auditing system flags for specific activity to ensure the safety of your funds. While we cannot reveal precisely what triggers such flags without compromising the integrity of the system, we want to highlight how our efforts to keep our platform safe and secure can degrade the user experiences at times. For example, when our system flags an activity as suspicious, the ensuing investigation and resolution usually requires human intervention, which takes some time. As we gain more users, they naturally trigger more flags that require more of these slow human interventions, so more human resources are required to handle the volume.
Automation here is tempting to rush, but difficult to get right. Large financial institutions have spent years fine-tuning these functions. Our rapid growth does not permit us that luxury, but we can learn lessons from their operational successes. As we improve our support more generally, we can address these tickets faster. Users should start noticing incremental advances in the coming weeks.
As we implement these changes, we encourage our users to be patient and not submit repeat tickets. The vast majority of our open tickets consist of duplicates. Submission of repeat tickets only increases our backlog and does not get your ticket reviewed faster. Manual effort must be expended to identify, match, and consolidate tickets to ensure the issue has been addressed. Repeat submission needlessly slows resolution not only of your ticket, but of all other outstanding tickets. They've also closed their troll box and assigned all the trollbox moderators to helping clear their support ticket backlog
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http://www.newsbtc.com/2017/06/05/bitcart-chooses-dash-over-bitcoin/BitCart, the online cryptocurrency discount gift card platform has announced an unprecedented move. The platform known to allow users to buy and sell gift cards for cryptocurrency was until now supporting both Bitcoin and DASH. However, in a recent announcement, the Irish company has divulged its decision to do away with Bitcoin payment option.
BitCart, in its latest press release, states that the company’s decision to end support for Bitcoin payments is influenced by extremely slow transaction confirmation and settlement speeds. As Bitcoin network continues to struggle with scalability issues, the number of unconfirmed transactions in the mempool continue to increase. In such a scenario, BitCart is finding it increasingly impossible to provide 24-hour turnaround to its customers as promised.
The discount gift card platform partnered with DASH in April 2017 and since then, the number of BitCart customers opting DASH payment over Bitcoin have increased. In the release, the company states that some of its customers have made upwards of five orders for gift cards a day, all with DASH. Increasing DASH adoption among BitCart customers combined with the cryptocurrency’s increasing value has made the company prefer DASH over Bitcoin.
BitCart currently allows users to order Amazon gift cards with cryptocurrency. Soon, the platform intends to introduce Hotels.com gift cards as well, offering more options for the cryptocurrency community to spend their digital currency.
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Apart from the fees, which are usually less than 1% what are other ways they make profits?
Thanks
It's down to the spread. The prices on localbitcoins are always slightly higher than on the exchanges, and the difference is their profit. Basically vendors on LBC act as marketmakers, and they add about 5% to the prices to make their profits. |
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what do you think about RDD coin? this price is now 109 satoshi in bittrex.but i am seeing it has a lot of sell walls.So post your openion about this coin. Any good future is coming or dump again its real price?
I think it's going to dump. It was supposed to be a social coin, with the ability to tip with RDD on Facebook, twitter and so on - that was the vision back in 2014. And nothing came of it, the developers made no progress with those features... |
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It is going very fast. But I have a little fear about the future. Nobody knows where does the money come from. We can only guess But anyway arrcording to the GDP this market is on list number 61, between Puerto Rico and Ecuador.  Me too. Every single shitcoin has been pumped. After they ran out of potential coins to pump on Polo, they moved to Bittrex. So you have a deadish coin like RDD suddenly surging for example. At some point people will take profits and the whole thing will collapse. |
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What is the typical consensus here on the decision and its short term BTC affect on August 1st?
1. Price falls massively
2. Price goes up even higher ?
Thanks
I'm hearing people saying they'll be pulling their coins off teh exchanges because otherwise they might lose money (the exchange will feature only one part of the fork instead of both). If people are pulling coins out and not trading, then the price will fall. I think when ETH forked to create ETH and ETC, the price fell dramatically and took a year to get back up. |
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Does anyone know why the siacoin wallet has been down for days on Poloniex and when it may be back up I don't want to keep mining to a wallet if I can't access it
The usual reason is that they're re-syncing the wallet and that kind of thing isn't quick depending on how many blocks they have to update. |
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Kraken has an official subreddit which is moderated by their employees. https://www.reddit.com/r/Kraken/Start a thread there about your problem, and it's likely one of their employees will respond and resolve it for you. |
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