Huobi’s BitVC is going to close CNY spot and USD spot trading at 12:00 April 1st (GMT+8) due to company business adjustments. And they ask clients to convert fiat asset into bitcoin or litecoin and return margin before 12:00 April 1st. Does this mark another round of tough policies on margin trading by PBOC?
Here is the news:http://news.8btc.com/huobis-bitvc-going-to-close-cny-spot-and-usd-spot-trading-at-1200-april1st
Could they not just add Tether and do away with Fiat? Using Fiat on an exchange seems to be troublesome with regulators, it makes they a constant switch point between crypto and fiat, which is the tax point and the normal point of regulation. There must be a CNY tether available too, if they use that, then they can massively reduce the amount of cash trading they have, the PBOC will be happy and we will be happy! |
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I think that if Bitcoin fails, then in the short term crypto will fail.
If Bitcoin has a messy fork, and trust is lost and the prices fall, ETH could overtake Bitcoin yes, but I doubt it will overtake Bitcoin at $15bil+ market cap.
It could fall less than Bitcoin and overtake it like that, but I hope it doesn't!
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The loss of confidence comes from investors and holders being spooked that the alternatives proposed, both of which are a downgrade to what bitcoin is today (which bitcoin is an amazing store of value), are appearing to pose a someday threat in undermining the integrity that is bitcoin.
Correct. The massive price decline is directly related to Antpool signalling BU & the fears of an imminent hard fork. Almost nobody who knows how to use Bitcoin (hint: Consolidate outputs on time) really cares about the fees. There were times where the spam attack was quite massive and delays occurred, but that was only a minor annoyance. The mempool is currently empty, considering that the attack has subsided for now. Those who want change can create an alt-coin, or goto litecoin, goto (permissioned, central-authority by foundation) ethereum, or implement such change to another coin.
Indeed. Bitcoin is fine either when: 1) Segwit is activated (soft fork; no split). 2) Segwit is not activated; no fork either. Ironically, the same "free market" proponents from the BTU folk want to attack the Core chain after a split (if it came to that).  But it doesn't look like Segwit is going to be activated. Bitcoin unlimited is also taking a long time, I am not convinced that it will fork. It is almost worse now that we are hanging under the cloud of a hard fork, without knowing if or when it will happen. Segwit would be a better solution, I agree completely there, but I think we might end up with BU and BTC, the worst of both worlds! |
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Wow BU at 46% support! Crazy! This thing may go down this very weekend. And people know it. The price is plummeting again.
That is still 30% too little. It seems to me like Bitcoin is so fragmented at the moment that reaching 70% or 75% will be difficult. I really hope there isn't a hard fork and that some agreement can be reached beforehand. It Bitcoin forks, it becomes another crappy alt and all trust will be lost. Lets face it, the only thing really holding the price up is trust, we aren't using bitcoin enough to warrant a high price, it is stored in wallets in the hope that it rises. |
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People are wondering why the price is just continually sinking and not coming back up. It's a combination of BU, scared investors, and the supposedly upcoming hard fork which will be horrible for us. It's no wonder we're all going down with all this drama going on right now. I'm sure we'll rise right back up after this is all over.
Or now is January 2014 and we are starting a long descent before the recovery starts again! I hope that isn't the case, but it isn't impossible. Wasn't it at about that time when the alts started going crazy too? We'll see soon enough, but I hope we get back to $1100 soon, then I will believe that this isn't the start of a big decline. |
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This should be moved to Technical Discussion, probably.
A hard fork would split the network into two block chains - in this case, one for BTC and BCU. ( ref) Think ETH vs. ETC as a current-day example. Ethereum has gone through 4 Hard Forks and only one - that unfortunate emergency fork after The DAO fail caused currency to split. Forking can be done right, when the community and miners agree that fork is good option and accept it, there won't be any splits. We can achieve that with Bitcoin, the problem is when Bitcoin Unlimited miners will try to take over the network without full consensus. If there is a fault that has to be fixed, then a hard fork won't result in 2 viable currencies. I mean if SHA-256 was cracked and a hard fork was needed to move to a new encrpytion, there wouldn't be a cracked Bitcoin left behind, I mean there would be, but no one would trade it so it would be worthless. In the Bitcoin/bitcoin unlimied case, it is a matter of opinion. The current bitcoin isn't perfect, but it works. The new one would work too. So both coins would be traded, and the market would decide which is the bigger brother. Ironically, if Bitcoin unlimited wins, bitcoin core would be more viable as a 1mb block would handle the reduced number of transactions quite nicely! |
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I held for a long time, like 8 months. I bought at 45sats and held hoping for the next bubble, I mean it has happened a few times in the past, why not again!?
Well I have sold out now at 20 sats and accepted my big loss. It just doesn't seem like it is going to happen. I mean peercoin was pumped, namecoin was pumped, DASH Monero ETH go up and down massive amounts all the time, but Doge just slowly falls.
I think it might be over.
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Not sure where to go with this one, so I thought it would be appropriate here as a PSA.
I use a VPN service.
I signed up with Poloniex and deposited a fair amount of BTC. I only transact using crypto, no fiat. I exchanged some BTC for ETH, withdrew some of it, but then my account got locked down and I was told to link my other accounts (I have none). I have a dedicated IP address, so it's not shared.
Poloniex is now telling me to verify my account at level 2. They would like my passport number, pictures of my ID, all of my personal information, all because I use a VPN.
Based on what I am told, they will not allow me to withdraw until I have provided such information.
Not passing judgment on their site, or looking for an argument here, just wanting to highlight that if you use a VPN and are concerned about your privacy, do NOT use Poloniex under any circumstances.
I'll edit this if they change their stance.
This is definitely going to hurt them. I'd suggest Polo just let this guy up here withdraw his money or you will lose of lot of customers. Why do people trade Monero or Dash on your site and pump it sky high whilst you charge your fees on every single fucking transaction people make? Because pepole want anonymity. Because people don't want to leak out their personal info to people they've never met before. So be a man and release this guy's funds. Using a VPN doesn't mean crap. Not really, most people don't mind verifying who they are, it also makes it harder for someone to steal my coins. Poloniex is the best exchange for Alts at the moment, I don't want them to get shut down because they aren't following KYC rules. I agree that it sucks, but that is the world of money, not just crypto. You can't buy stuff for $10k in cash anymore either, they want ID to buy gold and silver too. |
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Do people ever suggest anything but hold?
Here is an alternate idea, Bitcoin forks, we all have some new Bitcoin unlimited and some Bitcoin core. It gets that bit more complicated for everyone to use and understand. People who didn't want to have alts now do have and alt.
Trust in Bitcoin is lost as once it forks once, it could again, and again. People decide that it is safer to cash out. The price of both Bitcoins fall and everyone is a loser. As BU exists segwit isn't needed, so we have one massive blockchain and one smaller very limited one. It will hardly draw in new users will it!
When someone decides to try out Bitcoin in the future they will be asked if they want BU or core. They will ask what the difference is and why there are two, get bored and leave it alone. I wouldn't blame them either.
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Surely plenty of people did this in the last 5 years?
in my area, i can buy food pay bills and live happily on bitcoin.. .. oh wait. now i remember i been in bitcoin since 2012 and over the time I spoke to my local stores and hlped them out. unless you have many people in your town that are talking to merchants for you.. if you want something. you are going to have to ask for it yourself. again bitcoin is just code. no legs, no arms. it cannot get on a plane and come to your town. its something you have to do. too many people sit their waiting for magic. and they wait and they wait and they ask "Even now in 2017, why is bitcoin *still* not accepted as a major currency?Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now." and they dont seem to understand that their local shop doesnt know that you want bitcoin accepted in their store because you never helped them to be able to accept it. my advice: do not sit there waiting for magic. instead find out if there are other bitcoiners in your area and arrange a meetup at a bar/cafe to discus bitcoin. find out the main retailers in your area that all of you use (most popular retailers to actually benefit from accepting bitcoin due to regular customers) and then out of your group find out the most confident person who can help set things up and go to the retailer and help them. the best successes are not to speak to managers of branches of national/international retailers as they are just glorified supervisors with no actual local power to make changes.. instead look for the non franchised independant stores where the manager does have decision power over payment methods Where I live you can't do that. It serves as a store of value, but a very volatile one at that. I don't expect bitcoin to really replace conventional currencies, it can't. It is too hard to secure, too slow and not scaleable at the moment. If it were really used by the masses, which is 99.99999% isn't, it would fall under it's own weight almost immediately. I don't know a single other person who owns Bitcoin, almost no one knows what it even is, why it is good and they have no idea how to buy it! They think you need to mine it! |
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I think there is a real doubt about Bitcoin at the moment, due to the possible hard fork.
If bitcoin forks, why is it any better than the other shitcoins?
That is why people might look objectively at all the alts and decide that ETH or DASH is the way forward, not Bitcoin unlimited or Bitcoin core.
I agree with you though, everything will crash due to lack of confidence, bitcoin is the fallback, if that stutters, crypto stutters.
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Has any major alt ever traded consistenly above 0.1BTC, something that isn't called 21 or unobtanium, just a plum normal alt? Obviously ZEC was way above that for a while, but has settled in below it.
Now DASH could pass that in the near future.
Has any alt ever had 25% of the market cap of Bitcoin before? ETH basically has that now. I don't think litecoin ever got close.
I am not saying that I think that the alts will overtake Bitcoin, but even though Bitcoin is at a historically high price, alts are at all time highs against Bitcoin. I mean ETH has a higher market cap now than Bitcoin did in 2015!
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A hard fork would be suicide right, the problems with Bitcoin can and should be solved ussing a soft fork.
I doubt the fall is due to BU or a possible hard fork though, it might just be a delayed reaction to the ETF, and that so much money is moving into alts.
I can live with the price at >$1000, I've seen worse!
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I think this pump has topped out at about 0.04 for now.
I expect a consolidation at 0.035 for a while, what happens after that is anyones guess, I mean look at the price of DASH!
It is a crazy time in the Alts market, what will explode next?
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but with or without segwit price will keep going up because bitcoin is still insanely undervalued.
How do you come to this conclusion? It is basically impossible to value bitcoin, so it could be massively overvalued, or undervalued. I don't really see too much to suggest that it is used often enough to be worth $20billion or more. I don't know a single other person who uses bitcoin, and when I try to use Bitcoin, I am usually disappointed. |
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At nearly $100 per DASH, does anyone here see any potential crash/dump coming up?
The price seems crazy to me, it is a coin that can never be widely used! It is also up about 550% in the last month in terms of Bitcoin, more than 6fold in USD terms.
Maybe I just don't understand, but this looks very very bubbly to me!
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There is about a 100% chance that if Bitcoin is hard-forked, that we will have 2 Bitcoins actively trading afterwards.
I think it will hurt everyone involved in the short term, but in the longer term a Bitcoin Unlimited or with Segwit would be the more viable project.
If the Chinese miner want to keep mining Bitcoin classic instead of Bitcoin Unlimited, that is for them to decide. I don't really see value to mining farms, they are more like leaches who are starting to want ever more blood.
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I am a crypto 2 but a bitcoin 6.
The problem for me is that Bitcoin could and should be the answer, but it is becoming bloated and slow. The new sleeker and faster alts are usually scams or junk though, so we are left with Bitcoin to solve the problems of fiat.
I think it is a shame how things are going with Bitcoin. It is all about the price, but the actual development doesn't really seem to be happening. I never fair to be disappointed by the lack of opportunities to use Bitcoin.
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I can keep track of about 5 at the same time.
In fiat currencies there are about 5 major currencies (USD, EUR, GBP, CNY, JPY) I would only expect about 5 crypto currencies to be very sucessful if crypto is adopted worldwide.
The hundreds that are around now are generally junk, and will remain so.
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I wanted to ask if there is any company that I can use to buy from Amazon.co.uk using bitcoin.
I want to buy a few gifts, mybe 50 pounds worth, but I don't use my UK bank account anymore. I have used all4btc successfully in the past, but their server is down and the customer service isn't responding.
I don't want to use Purse.io. I had the police knocking at my door after ordering from them and the buyer decided to claim it wasn't recieved, even though it was.
So any suggestions? No gift cards bought with stolen credit cards either please. I just want to be able to use bitcoins to buy something easily and legally in a different country.
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