After almost a year trading on Yobit, i give up.
2ETH cashout pending since November last year, 500xvg deposit pending for 2 months already and most recently invested 0.09 BTC (arround $700 at the time of investing) in their LIMBO coin. After 2 days (today) they made denomination so now i have 0.00014 LIMBO worth 0.47$ LOL.
Avoid them, run far away from them.
XVG's deposit and withdrawal problems may actually stem from yobit's inability to update their wallets in preparation for forks of coins that they list, as I remember a lot of people complaining of deposit/withdrawal problems on yobit regarding XVG a few months ago. Again, this shows how incompetent they are as an exchange. Same with stuck withdrawals. And that's not the worst part, actually. The worst part is their support. Once you have a problem, their support will just flat out ignore you altogether. That should be enough reason for everyone to stop using them. Unfortunately, the only reason that they are still alive as an exchange is the vast amounts of people that are actively feeding money into this shady "business" (dunno if i can even call you that). For your own sake, and for others sake too, don't use yobit. It's going to screw you over eventually even if it doesn't happen now, one way or another. |
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Since bitcoin is completely independent from the fiat system, as long as fiat continues to lose value through inflation (which it will, in the long run), then bitcoin will hit $20k eventually, even if demand for bitcoin stays the same. It's really a matter of sooner or later.
For me, I don't think that this is happening this year. The markets are way too bearish for a full blown bull market to initiate. There may be several rallies (just like the April rally), however, they will generally be short lived and followed by a correction.
I'm much more confident in a bull market happening near 2020. It's not necessarily going to hit $20k, as that is quite a large figure and a result of an overheated, FOMO buyer filled market, but even if it doesn't, it'll be close imho.
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I know history of price movements in bitcoin is short compared to stocks, gold etc and that history may be a poor indicator of the future for bitcoin but this may be of interest: We had big, fast price rises in 2011, 2013 and 2017 and then a big fall off each time. Within a 3 month period the price rose respectively from 0.7 to 29, 120 to 991, 4000 to 19000. It took 19 months for the price to recover to 29 It took 37 months for the price to cover to 991. If this is a good predictor for our current position then we should expect to be back at 19,000 between July 2019 and Sept 2020. that is bullish  Based on historical data, bitcoin usually recovers fully into a major bull market in 1-3 years of the end of the last one. If I were asked the question when the next bull market was to come, then I'd say most likely 2020-2021, first of all because I doubt the bear market can last any longer than that, and secondly, the halving has historically been a turning point (even though past performance can't *always* indicate the future). Nobody knows right now how fast or how high the increase is going to be for the next bull market, the ATH could even not be breached, believe it or not. While this is the case, I don't see 2018 as a bullish year, or even 2019. Before the recovery happens, the price needs to find strong support at a certain level. Right now I don't think that we have found that support yet. |
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Bitcoin price is now below 7,400$. We are seeing constant declining of the price since 5th may. Can you guys tell me how low it may go or we can hope that it may rise after this month.
First of all, I don't expect any major rallies until probably July-August. I expect the market to be moving sideways near the $6-7k support zone, and there shouldn't be a lot of activity in the markets. The bearish sentiment in the market is still extremely strong and I doubt that it would fade away any time soon. The rally in April was pretty much just temporary, and wasn't anything long-lasting. Resistance at $10k was proven too be too great, and that's when the correction happened and why we are here right now. I really do think that bitcoin doesn't have a lot more room to fall by, before it bottoms. But still, I would say that realistically, there is a chance that prices can fall to as low as $4-5k per BTC before a recovery starts. |
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remember again, at January that peter predicted bitcoin would fall sharply, but he also saw that bitcoin has the potential to persist for a long time. and it happens today.
to whom else would you believe?
Just because he made one (somewhat) correct prediction, doesn't mean that he's a genius and he is able to predict everything else. If he was right, then bitcoin should be seeing a drop to $1k or below, as that was his original prediction. It's obvious that we're in a bear market, and that we are most likely going to continue our way down until at least the end of the year. However, I don't think that we're going to see prices as low as $1k as the buying pressure at those levels are just too great. If he did say that bitcoin will survive this, then I agree. Bear markets are just a part of the market cycle of bitcoin, it does not damage the long term viability of bitcoin itself. |
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I will receive some litecoin in the next few days and I plan to exchange them fast without any verifications or pending 2 days new account stuffs, I use in the past bter.com but now I see is closed and even then I had problems with them with delaying withdrawals and so on, is there any exchange which has no verification? binance.com are these guys ok ?
Binance is fine - I've been using it for ages now after poloniex and bittrex took away anonymous accounts, and I haven't got an issue. Their support seems to be pretty active in contrast to most other exchanges as well. For other exchanges, Kucoin seems like a popular exchange to use as well. You don't need to be verified to trade on Kucoin if you are only doing crypto to crypto pairs, and I believe the withdrawal limits for unverified accounts are the same as binance (2 BTC per day or equivalent). Since LTC is such a big coin, there is plenty of options. If you want a fast transaction without even having an account, search up some exchangers on bestchange.com by entering the details (choose Litecoin -> Bitcoin direction). |
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I don't think that you can expect the rate of growth to be steady, especially not anywhere near the 2017 growth rate because that was growth in the middle of a bull market - of course that is going to be completely over the top.
However, using bitcoin as a way to store your wealth for your retirement is actually a great idea.
Saving fiat for retirement, in a bank is completely nonsensical given inflation and the peanuts you get in return as interest. You're losing a lot of value overall. Therefore I would definitely save some of my personal wealth in bitcoin for the long run, if that also means retirement.
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If the rest of your portfolio is purely in investments like cash/savings, bonds, shares, etc., then bitcoin can really be a great diversifier. I think what you said here sums it up perfectly: Bitcoin is a new asset class with high returns, non-correlated to any other assets. I wouldn't say that it's got high returns, but it's not correlated with anything, and it's decentralised. Plus, the supply is fixed at a maximum, so as long as adoption goes up, it would mean that in the long term, there should be overall steady growth with bitcoin prices. However, don't put everything in one basket either. Even though I believe that bitcoin holds the most potential, still diversify into other investments. |
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We are witnessing a dip again and its the time when most of us sell to avoid further loss. Don't panic and relax if you already have bought at higher rates just HODL.
The positive aspect of this dip is buying opportunity.
Exactly. Some people are panicking on the current correction, but I find that completely unnecessary. It's really not that wise to follow the market sentiment in this case, when the prices are dipping on a daily basis. Even though bitcoin may be going down at the moment, it's simply the case because we're in the bear stage of the cycle right now. Once we bottom, and the recovery starts happening, the markets are most likely going to heat up just like 2017. I expect this to happen between 2020-2021. We are entering a big accumulation stage, in my opinion. The prices are just right for accumulating for the long term, and even though prices may adjust further down, the bottom is most likely very near the current prices. Do some dollar cost averaging on your buys right now, and you should be able to comfortably take advantage of this falling market. |
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Today my Poloniex a/c was frozen telling me to complete verification. I have a good amount of BTC there. Tried the verification a few times but it doesn't go through... any tips?
You should have honestly known that this was coming, because at the start of the year in January poloniex already issued some statements saying that legacy accounts will no longer be able to trade without verification. By "not going through", do you mean that your verification was rejected, or that poloniex is just ignoring your verification altogether? In both scenarios, you will need to let support know. There doesn't seem to be much of a delay with verification requests right now, so I suspect that your case is probably the former. Perhaps try telling them to verify you manually, or something like that. |
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Is anyone having this issue? Absolutely. There is a ton of people who are unsatisfied with yobit one way or another, and when a problem occurs you simply can never get a response in time from yobit support. They don't even reply to you on twitter.
The chat ban can most likely be explained by you telling people to buy a certain crypto as that would constitute shilling. However, I don't know what triggered your entire balance to be frozen as well.
There isa possibility that it could unfreeze by when your chat ban unfreezes as well. If it doesn't, then you'll need to wait a long time for support to respond to you.
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Guys,
This has been stuck in my head for some time and I thought it's about time to write it down and get some input/feedback.
So what are two major problems in crypto?
1. With some banks it's illegal to buy crypto with your bank account and bank accounts have been closed in the past for this reason. This is stopping some people of buying bitcoins or go through localbitcoins.
2. People that want to pay invoices/bills (like electricity bill => miners etc), have the issue of converting crypto into fiat and withdraw it to their bank accounts (or maybe they don't even own a bank account anymore). Withdrawing money from an exchange also means clear exposure to the banks, so they could shut down your account as well as you are interacting with exchanges.
So what could be a solution?
Have a localbitcoins type of site where you can do the following:
Example
Mister X needs to pay his electricity bill with crypto. He posts the bill data to the site and the crypto he wants to pay with. Once someone wants to buy crypto they simply pay the bill for mister X and they get the crypto unlocked in the escrow.
This can be done with ETH smart contracts in a totally decentralised way, even with Aragon governance. There should be some kind of trust/rating system as well.
Just a very rough idea, but want to get this discussion going.
This is already happening on LBC with a lot of traders in my country. It's called BPay here (not sure what the system is called in other countries), but essentially, if you want to pay a bill, you can go do that without any involvement of a bank account by selling your bitcoins. Pretty similar to your idea. So yes, this is a proven idea that will work. But what we don't see is an entire platform devoting all of their resources to this idea of a "bills exchange". It could be a service that can be successful, however, I don't really think it'll work that well on a large scale, as there is only a finite amount of bills that one needs to pay. |
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Exactly, as the users above me stated, what the banks are trying to use is the blockchain technology. They are not using bitcoin. However, it can still be beneficial to them as blockchain tech obviously offers a range of benefits to the user, even if it means that it's not decentralised. Thoughts? I think it'd be very interesting to see banks use cryptos in a lot of areas and it's the first step in the right direction. Would love to see this grow.
I'm still not that sure of the correlation between corporates having their own blockchain and decentralised blockchain currencies is even present. But I mean, it's still blockchain adoption. It's nothing negative, just doesn't change the structure of anything much apart from what underlying technology is used. If you want to protect your finances for a financial collapse, invest in some precious metals and bitcoin. Both of them are proven store of values. Don't buy into centralised blockchain tokens, thinking that they will offer the same benefits. |
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There is always risk when buying gift cards, Gyft, eGifter, even Copay. It's about how much risk you are taking and how much risk you are willing to take, honestly. Gyft, eGifter are all out of the question since they don't offer AGCs anymore. I would avoid LBC or paxful even though the rates are great, unless you have extensive knowledge of risk management in the gift card trading business. And even then, it's extremely risky. You have two options... If you only want gift cards, copay is your only safe bet. If you actually want a product off amazon, use purse.io. However, I would only buy goods up to the value of $2k and nothing more on that platform, considering that they have a $10k guarantee on purchases: https://support.purse.io/shopping/am-i-protected-using-purse. |
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How are you able to access the old account on your phone, but not on your actual computer? That's what baffles me with this situation. Are you sure that you actually opened a fresh cex.io page, instead of looking at a cached version of your account as a result of you opening it earlier on your mobile?
Anyways, you don't have your private key. Only exchanges have access to that.
If you can prove that they didn't close your account, then that is their fault. However as you said, partially the responsibility is still on you. If they are giving you a response, then it could be good news since there is a chance that you may get your funds back. CEX is definitely notoriously slow at actually processing tickets, though. You may need to remind them about it every week.
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Site looks alright, however, I'd take away the animations from the background as it is a bit distracting at least for me.
I understand that you guys offer a similar service to changelly. Do you have any significant advantages compared to them or even Shapshift.io? Apart from having more coins listed than perhaps Shapeshift, I really don't see a reason to use you guys atm.
Besides, it's hard for people to trust you when you're new to the community, and even if you offer limitless exchanges, not a lot of people will trust you.
Also, what are your site's policies on KYC? Is it completely KYC-free?
Thank you so much for your feedback! We strive to make the service as user friendly as possible. We are constantly improving SimpleSwap and we are focusing on the accuracy of our forecast and the speed of exchanges. We have no limits on the exchange. In the near future we will add fixed rates, which will further simplify the exchange procedure and make it simple and understandable for everyone. About KYC. We do not require any documents and we do not have registration. However, we have an automated risk management system to check all transactions. According European AML directives we can ask of your ID and additional information of the funds origin. Okay. So basically like Changelly. Right now, when I try to exchange some funds from BTC to ETH, there is absolutely nothing that suggests I would need to be providing your identification under certain "suspicious" circumstances. I would suggest putting in a warning before people even start trading to confirm that they are comfortable with verification, and specifying how long it would take, maximum. Because trust me, you don't want to end up like Changelly v.2. Just look at how untrusted they are, because they are accused of holding customer funds for unnecessary amounts of time while asking for a ton of info, all of this without any indication this would happen at the beginning of the trade. |
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Proof:https://imgur.com/a/ZC55EYQ
He send me same paypal id in private message so moderator (admin) can easy check this and ban him if it's possible.
I resend you pp... You don't resend me anything. Stop scam people please. PROVIDE PROOF OF REFUND THERE. If that's the case, honestly I would just count on paypal resolving your dispute and awarding it in your favour instead of relying on him to pay you back. He is probably hoping that you would drop the paypal accusation, and buy some time by saying that he has repaid you in paypal. Obviously, that's not the case. Digging a bit deeper onto his trust feedbacks, it seems like that he's a serial scammer that has a ton of victims. Just click on the untrusted feedbacks that run from 2017 till now. OP, hopefully you can learn your lesson here. Always use escrow while trading, even if you're dealing with paypal, since you don't know if you can successfully charge back every single time if the person goes scam. |
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Sent you a PM. I would be able to do 5% for 30 days, given that 150% EDO is provided as collateral.
Also, you'd have to cover all the transaction fees.
Let me know
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From last few days, so many negative news regarding btc have been aired. Then lot of people speculate the price of bitcoin and just after that I have noticed some significant change in the price index of btc. Do you think that these speculation affect the price of btc a lot???
If there were no speculation within the market, then it would mean that bitcoin prices will solely be based on the adoption rates of bitcoin. If adoption goes up, then demand will go up, and prices will indeed increase as well. Price speculation obviously would affect the price of bitcoin, and also increase the volatility of bitcoin as a result. It's not always negative, though. Prices can also go up as a result of speculation, not just go down. Speculation is just an element of bitcoin, and is the case for any asset traded on the market. |
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The problem is that you don't know when they are going to update their terms and conditions again, to say that you are not allowed to withdraw anymore without verification. They potentially won't even give you a warning for that. This isn't going to be the final version of their KYC standards, it's going to get harsher than that.
If you do provide your ID, you don't know what they are going to do with it. They could report it to the government, without you knowing. They could analyse your trades and whatnot. No way they're going to be transparent with this process.
Also, even semi-anonymous exchanges are a huge hassle for actual anonymous traders with large volumes, who want to trade without providing ID.
The only escape that you may do is having a fake KYC application to specific project that you choose. Well for me, it's easy to do that by having a customize I.D., far address that your original address, using other face and name and many more. You cannot fake the KYC if there's a live screening ( through internet video or any other option ) of every participant or investor, which is time consuming and a no no posibility. What do you think? Nope. If it was that easy to obtain fake ID in the first place then they wouldn't even have KYC rules in place. Furthermore, it's unlawful to do that type of stuff, and you don't want to get yourself into legal trouble just for the sake of not providing your real identification. What I see is that any exchange that deals directly with fiat will move towards full regulation, and there will be no way around that. There will be a dichotomy in the future between fully regulated exchanges with very strict KYC for the big players to trade at (Kucoin should be in this category), as well as p2p/decentralised exchanges. If you value anonymity, you'll just have to use the latter. |
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