|
The real reason in my opinion that many countries are banning bitcoin and other crypto, is because it is hard or nearly impossible for them to have control over the transactions that go on and where they are being used for, and therefore imposing a law on it being illegal is the only way for them to scare some people into not trusting it, and also they say that banks should start accepting bitcoin as a payment is and idea that oppose the whole reason why we started using bitcoin the first place, which is not to use banks.
|
|
|
|
|
The bitcoin and the crypto market in general are not predictable and any trader the follows some prediction to make profit from this market will find himself losing a lot of money, every trader has their own way that they can profit from how the market flows, some just go for short term positions and have a large amount of bitcoin so a small change in the price could make them thousands, and some go for long-term and they just wait for key resistances that the price reach in order to buy or sell to make their profit.
|
|
|
|
Seems like China is done with Bitcoin. Hash rate has dropped by over 60% in the last few weeks, which confirms that miners are exiting China for good.
How does a Bitcoin exit benefit China in the long term? What do you guys think is China's game plan?
A lot of chatter about this being "China's trillion dollar mistake". I don't think China's dumb, so keen to hear what they might have up their sleeves.
China is well know for controlling everything, from restricting websites to all kind of weird prohibited things, and all of that because the government wants to be able to hold control all over its people, and with bitcoin they are not able to do that, they won't be able to see who is sending money to who and for what reason, and with bitcoin being decentralized they don't have any control over it, and maybe they are trying to make their own cryptocurrency to hold control over the transactions. |
|
|
|
For all of you who do trading in Cryptocurrency.
I ask for those who just use Bitcoin for trades?
Do you think just focusing on Bitcoin to do trades back and forth using Stablecoins such as USDC etc a good focus?
More less being a safe avenue in case you miss the sell off targets as markets change.
I am thinking yes we all know just holding BTC is always seen as something as value.
So if you put yourself in a Buy position and the sell position does not happen. Just being left holding that BTC is a safe position regardless.
Vs holding an unstable alt coin such as something like Shibu Inu or some of those other alt coins that could disappear or dump lots within a day or a few hours. Also have no value in long term to hold an alt coin?
Your thoughts on this. Do you think one can be successful just day trading on BTC only vs the other coins/tokens? thanks
Trading bitcoin is a lot more safer and also a lot more profitable than any other altcoin, altcoins seems to be easily manipulated yet people constatnly try to trade them in hopes of making good profit to the fact that the prices are a lot more cheaper but with that the prices can get affected really easily, but with bitcoin even if a couple of people with a large amount sell it won't affect it that much, bitcoin is high investment high profit trade. |
|
|
|
I sent bitcoin today but after more than 1.5 hours of waiting, I could only get 9 confirmations. Still waiting! Haaaaaaay.....
I don't think that any crypto exchange or site that uses bitcoin these days are using high numbers of confirmations, at least not these days, with how long and how much fees you have to pay in order to get transactions sent as fast as possible with a decent confirmation it would take several hours for it to do so, i think that most sites have started going for 3 confirmations since the network has gotten a lot of traffic. |
|
|
|
Ricardo Salinas Pliego, the third richest man in Mexico, said that he hopes his bank will become the first bank in Mexico to accept Bitcoin. We heard that many banks have begun to use cryptocurrencies, especially BTC. The main difference from this case is that Ricardo Salinas Pliego actually believes that BTC is a real gold equivalent, while fiat currency is actually a fraud. He said that the most significant feature of BTC is that it has a total supply, which cannot be said for any legal currency.
What do you think? Is there a real difference? Will it be a successful project?
I honestly think that this is a stupid idea, so the main reason why bitcoin was created and the purpose that it was made for was to eliminate the need for any intermediate between beneficiary of the transactions, and banks are the main thing that bitcoin removes, so going back full circle and using banks to deposit bitcoin seems kind useless and contradictory, besides don't you want your id being hidden from governments when you use bitcoin why would you give that info to the bank. |
|
|
|
|
I mean you are not the first and you are not the last one to suffer from this problem, i mean the guy who also lost his private key to his wallet that holds a fortune and we are talking millions of dollars, was featured all over international news a couple of months ago, people should take better care of any sensitive information that involves money, and especially bitcoin since the only thing that identifies you and allows you to be the owner of your wallet is your private key and you can never retrieve it if you lose it.
|
|
|
|
Greeting BT Users,
As I am involved in the crypto world for the past 3-5 years and closely watching BTC when its price was around $400 - $700. When the BTC first pumped in 2017/2018 than it creates chaos in the whole world and more and more users are attracted because of the profit they see, but when the price suddenly down and BTC dumped to $5000 from $20k then a lot of new as well as experience users lost their money and also trust from Cryptocurrency.
Recently BTC again pumped and the price reached $60k and was predicted to touch the target of $100k but again the BTC price dumped around $35k - $38k. From all this pump and dumped I did not yet UNDERSTAND that why and how this happens and the difference is huge. BTC is considered the king of the crypto world and it causes the price Pump and Dumped of all the coins. Also Crypto market is untrustable as any person having a status/huge bank balance can easily manipulate the market as Elon Musk did.
Any expert can explain the reason behind those huge pump and dumped of BTC?
You really don't need an expert to tell you what really happened, you have big investors like Elon Musk and his companies investing billions of dollars into bitcoin, and that created so much hype and excitement in the community that made so many people invest more and that drove then price up, and than he suddenly drops out because of environmental problems caused by mining, and china actually taking serious measures against bitcoin miners and the panic that all of that caused so many people to sell that drove the price down. |
|
|
|
In Bangladesh, still media spread wrong info on cryptocurrency. It’s still illegal here. As a member of the forum, I feel the necessity of doing something by any means to be honest.
So, I was planning of creating a petition on change.org including all the right info and share this among everyone. Would it really make any difference? Will it be able to get the attention of the government? What do you think?
I think the best way to do these things is to address the issue first and why crypto is looked as bad thing, and you should try to find people from country that share the same vision as you and try to push that idea toward other people, so the way i did it is i had a club in my university that holds events a lectures about several stuff and i was able to convince some successful people who have been working on the blockchain and crypto to come and share their experiences and their visons with the students, because fighting the ideology that has been spread about the bitcoin can only be fought be the same way, and not by creating an online petition that no one cares about. |
|
|
|
Just curious, do any of you set stop losses and recollect again later? Or do you just HODL regardless of what the dip is.
I personally trade altcoins for short term, so i always set a stop loss for them, but for bitcoin since i am investing in it for the long term and have most of my investment in it i just hold because i know for a fact that no matter how low bitcoin goes it will always go back up again, but for some altcoins that thing does is not always true, so if you believe in an investment you should always support it and it will pay off. |
|
|
|
Y'all going in now or what?!
28k was a good price to go in, relative to where it is now. Meaning, you know it was good when you've long passed it and you're looking down at it. But what'ch'y'all think? Still a good time? Tempted to go all in, not gonna lie.
I think that going in and investing and what point you do that is highly dependent on your own strategy and how much investment you are comftorbale putting at, if you plan on going for the long run which most likely you should do right now, the price stating in the 30k range seems like a good place to invest and hold for a long time, and if you are planing on going short term you should consider buying as soon as the price goes below 30k which it happened briefly and who knows if its going to happen again. |
|
|
|
COVID 19 enriched majorities while the minorities suffer.
The current increament in the cost of commodities in the market is alarming bad yet the majorities who are representative of the minorities (politicians) seem to pay less concerned.
This increament before now was tag to be as a result of Covid 19 which interrupted importation and exportation of good and services.
It is expected that with the decrease in the Covid 19 spread I thought their will be a corresponding decrease in prices of price the reverse is the case.
My question remains is their any hope for price decrement.
I think that the prices increasing due to Covid is a sensitive subject, because sure we can blame some industry not having enough supply due to the pandemic is a logical thing, but in other some i think that they are riding the wave and just blaming it on the covid, to artificially create scarcity to increase demand while also decreasing supply by doing less manufacturing in order to increase prices to pump their numbers in terms of profit, so i seriously expect this situation to go on for another year or two at least until the whole covid thing dies down. |
|
|
|
You can take risk with your life, you can take risk with your computer. But nobody would tell you to take risk with them, but they all tell you to take money risk because why? Because MONEY is the riskiest of all risk!! They tell you to take the riskiest gambling with your life. After you take MONEY risk, you are gambling with your life and death, you loss the money the future await you is hell and death! Never go full retard!! You can take any risk but never take risk with your MONEY!! Fuck all the people who tell you to take money risk.  I mean money is a replaceable thing so taking a risk with your money is not that bad, that is of course if you are not getting yourself broke and putting every penny you have into some risky investment or some gambling, there is a saying that goes man make the money and not the money that make the man, so taking a reasonable risk to take you from being the average joe to setting you on your feet and making your dreams come true that you should always take the risk. |
|
|
|
As the title says I'm curious what's the real reason for the decline?
Is it because whales are dumping?
-Or Dogecoin meme died? and people taking it over on other altcoins?
There are some altcoins that aren't down as badly as popular coins like ETH and BTC.
So what's your point of view regarding this decline?
I think that a lot of people and investors have started to look at their options, since the recent news of companies like Tesla dropping bitcoin as a payment method and China banning bitcoin mining and taking some serious actions against it, and all of that is causing some panic as always that is leading to people selling, as of the other altcoins i think some of them are centralized stable coins means that they don't get affected by anything and their userbase has no reason to dump them. |
|
|
|
|
I think, that most big crypto mining companies have always been trying to use clean energy for powering their mining rigs, and that is in order to maximize their profit in the long term, and to be honest that is what every one who is planning on making a marge mining rig should be thinking about, they should try to be self sufficient in terms of energy, even though its initial investment may seem closetful but it will pay it self of, and the more people that do so the more we attract more investors toward the crypto market.
|
|
|
|
|
We all know that if china wanted to ban mining bitcoin it would have done it a long time before, the news it self of china cracking down on bitcoin has more impact on the price than shutting down miners themselves, and that just proves how much power they have over it and how much bitcoin is not decentralized, so if china actually takes some serious actions against its miners and shuts them down which it can't at least not entirely, than the mining power will shit elsewhere in the world and will help bitcoin be more decentralized.
|
|
|
|
|
I think that this may bring some advantages for the bitcoin community overall, since bitcoin have started getting popular people started questioning its decentralizations since china has the majority of the hashrate, and since it is going to take some actions regarding mining it, hopefully the hasrate that we lose from Chinese miners gets replaced elsewhere in different parts of the world which will make bitcoin more and more decentrelized, so maybe the dip that we are getting right now will have some good outcome in the long term.
|
|
|
|
China's regulatory measures are becoming stricter
6.22 Morning News
On June 21, the official website of the central bank stated that the relevant departments of the People's Bank of China have recently interviewed some banks and payment institutions, including the Industrial and Commercial Bank of China and the Agricultural Bank of China, on the issue of providing services for virtual currency transactions by banks and payment institutions. Subsequently, Industrial and Commercial Bank of China, China Construction Bank, Postal Savings Bank, Industrial Bank and Alipay issued announcements prohibiting the trading of virtual currencies such as Bitcoin. This news caused a panic in the crypto market, and the currency circle plummeted.
Yeah i mean with the news that china was going to take strict regulations toward mining bitcoin and crypto in general made the prices dip, because china has been saying that they are going to do something about it and every time they say so they cause the price to dip and than they don't and everything goes back to normal, but this time they are actually taking actions and that is what really causing the second price drop. |
|
|
|
|
I think that over the past dew months with major news about bitcoin overall like many companies adopting it and all the talk about making it a valid payment method in some place, puts it out there more and more so that normal people see what they have been missing and with each passing day with the price being somewhat stable gives them the opportunity for any one who wants to invest in it to do so at a lower price, and for us who believe in it to get more of it.
|
|
|
|
The reason for this question is "The Standard for Deffered Payment".
If I want to buy goods worth $2000 and the seller offers a Deffered means of payment. I can pay $1000 and in later months pay the balance of $1000.
Can this happen with BTC, if not now but in the future.
Maybe I want to buy goods worth 0.2 BTC, I paid 0.1BTC, in the later months can I pay the balance of 0.1BTC without paying its equivalent in fiat?
Thank you.
This is actually a very good question, and in my opinion i think that bitcoin and crypto overall can't exist without fiat, and the reason for that is because they have become more of an investment rather than being an actual currency with its own dependent value, so the value of any currency or investment is always going to be tied to its equivalent in fiat because that is the main way people and companies exchange goods or services between each other. |
|
|
|
|
Show Posts
