The recent crash in bitcoins has been due to the ban on Bitcoins by the RBI that is the authority controlling all the banks that run in India.
One should know that they have stopped us from converting cryptos into fiat.
Zebpay and other bitcoins wallets are fighting this decision already.
Due to the personal threat thatRBI seemed to face through bitcoins they made a decision that is right now affecting all the people who are involved in bitcoins already and trust me the number is not something that could easily be neglected.
With so much money invested by the individuals in this sector one needs to know that instead of encashing out holding and signing a petition for this cause will do more good.
Just running could prove detrimental for bitcoins .
One should remember the fact that it's Not China ! They are not living in a dictator's rule and for the sake of bitcoins they need to stand up against this decision.
This actually didn't even affect the market that much. But there are still some traders will will panic. As you said there is absolutely no need for panic selling. First, RBI hasn't banned bitcoin itself. Bitcoin trading is still legal. But exchanges' operations will likely be severely affected by this ban on banks dealing with crypto. There will always be other routes apart from exchanges to cash out your bitcoins. Big bitcoin traders that already have a crypto stash will simply move to international exchanges. India's bitcoin volume isn't even that high compared to China's, and China's ban on exchanges did not affect the bullishness of the market at all. These are all short term worries that will be resolved sooner or later. Focus on the long term, don't let these news pieces affect your holding strategy. |
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I think bitcoin is still asleep and seems still reluctant to wake up, I do not know how long bitcoin will be like this. But if bitcoin is already awake, bitcoin will surely increase and jump in value. We must have hope that becomes our impulse to survive in crypto.
Bitcoin is simply in a bear market. It's absolutely normal for any asset class that s traded on the free market to experience periods of bull markets and bear markets, and with the price decreasing since January from the all time high it's safe to say that we are in a bearish one. It's not about bitcoin being awake or asleep at all. Volume in bitcoin terms have not decreased that much at all, only fiat volume have decreased. Market activity is still there, it's just not resulting in sustained gains in price. The next bull market will come eventually. It's a waiting game. We know that bitcoin cannot go to zero, because it is decentralised and it can't go "bankrupt". We know that there is going to be a ton of buyers that will act as support for the price at around $3000-4000. It's simply a matter of patiently holding onto your investment in BTC until this bear market is over, which it will be eventually. You always see some people panic dumping due to their emotions taking over in a bear market like this, they're the ones that lose out on profits. |
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In my opinion, the next bull market is imminent. It's just a matter of time. It could be months from now, it could be years, hell, even an entire decade until bitcoin experiences a pump as big as 2017's pump. But as long as you are patient, and believe in bitcoin's technology and economic implications, you will make a profit by holding.
If your investment in bitcoin is seriously hindered by the fact that you're putting in emotion your trading, then I think it usually means that either you are extremely impatient or you have made an emotional choice of buying in the first place, probably due to FOMO. This is honestly the worst you can do.
I think it should be said that bitcoin shouldn't be your sole investment. Have a well diversified back up plan such as gold, silver, shares or even collectibles in case crypto does not recover when you think it will. In that case you won't be forced to sell any portion of your crypto portfolio just because you need the money, or you're tempted to sell because your entire saving is in BTC and you're emotionally wanting to cut losses. Holding for the long term is the strategy that'll work best in this bear market, imo.
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Petro is nothing but a centralised coin backed by the Venezuelan government's promises. And when they are already this in debt and has clearly demonstrated that they do not know how to manage an economy without oil prices booming all the time, I don't know why you would invest in their crypto project. It has virtually 0 potential and could amass huge losses since it is based on the Venezuelan government.
But regarding the hyperinflationary situation that regular Venezuelans are subjected to, bitcoin can certainly help.
Bitcoin is a store of value. Even in this huge bear market which has lasted 4 months, it is still a better store of value even in the short term compared to the Bolivar, whose inflation rate in Feb had been over 6000% p.a. And with bitcoin's global reach, its value in the long term is guaranteed, meaning that Venezuelans will finally get a way to save their money. BTC definitely has the potential to make a change in economic disasters such as this.
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Hi, I've built a progressive web application (PWA) to track prices of different cryptocurrencies in realtime. https://coin-board.ioThe unique aspect of the app is that the prices are shown per different exchange and are not aggregated (as on CMC). Since I'm still developing it, I appreciate all feedback  . You can also join the Telegram Group and can post feedback there too: https://t.me/coin_board_io(I use the group mainly to announce when I post updates to the app 1 - 2 per week) Thank you! I like the fact that you can see the prices from individual exchanges in real time updating. That is the real plus for me for using this site. Intuitive, and straightforward unlike some other price tracking sites. So it's definitely a well done on that. However, how do you actually list your coins? Is it just completely random, or have I missed something? Because Ethereum is pretty much near the end of the list even though based on market cap or volume. You should definitely sort the coins by market capitalisation since that is usually an accurate measure of its popularity, imo. Unless I overlooked an existing method of sorting that you prefer, of course. Otherwise, add more coins, and exchanges. There's less than 100 coins right now, definitely not enough. But having too many exchanges on one page doesn't really work either, might have to come up with a solution. I don't really like the fact that there are so many "N/A"s on the page also. |
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Will South Korean exchanges close or will try to circumvent the law by moving offshore to stay trading and open?
I think China closed its crypto exchanges so where did all their customers go?
I'm not sure about South Korean exchanges, but Chinese exchanges after the ban have definitely moved overseas. Huobi moved to Singapore as their headquarters if I'm not mistaken, and okcoin to Hong Kong when both of them were initially operating within China. Some traders have moved to p2p platforms like Localbitcoins to make their trades, as demonstrated by the charts at https://coin.dance/volume/localbitcoins/CNY that show the huge increase of volume on LBC in the Chinese market sector since the exchange ban. For crypto trades there are essentially a ton of exchanges available. I've seen Chinese people use exchanges such as Binance, Kucoin, even Bitmex. These international exchanges have be used anywhere. Not sure about the popularity of Huobi but they are definitely still used by some Chinese traders. |
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See: There Is No Escaping History. Fiat Currency Eventually Fails. Notice that this is a critique of fiat money -- not a critique of state-issued money under a gold/silver or other standard. Fiat money is a rare occurrence in modern history. (We live in strange times!) As we can see, the examples found by the author are a small number of short periods here and there. I have my own critique of gold/silver standards, but that's another issue. We're living in weird times indeed. Probably the first time in history that the entire world is completely off the gold or silver standard or any form of "real money" and fiat currency is the norm everywhere. Fiat currency has never survived, because it is issued by some central entity. If that central entity decides to abuse its powers to finance something by inflating the monetary supply, or if that central entity just completely collapses, the paper would be completely worthless. Intrinsically, it's worth nothing. You'd be naive to think that this stability stemming from a debt based fiat system can last long. That's the main reason why I invest in bitcoin as well, as a hedge against fiat currencies. People don't realise it now because they think fiat holds intrinsic value, but in reality, fiat always loses value in the long run, and goes to 0. Even promissory notes that promise to pay you something can be abused through fractional reserve, unless bitcoin, which cannot. |
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Many of the FUDs circulating about bitcoin seem to indicate the scouring of bitcoin users' trust on bitcoin so bad perceptions of bitcoin, especially for new users and selling bitcoin, which seems deterrent to use bitcoin, will the price of bitcoin be destroyed by FUD, How do you react to it?
FUD in itself is only a measure to try to trigger an emotional response from traders to get them to sell bitcoin. So yes, if the FUD is big enough/well achieved enough, then it can definitely result in BTC prices tanking. But most of the time FUD is only a catalyst, not something that caused the price to start decreasing in the first place. Take for example FUD generated from crypto ad bans, on the surface it may seem like that's what caused the BTC prices to go down from its peak, but in reality, it only quickened the process of the bubble bursting. But over the long term, I don't think FUD will "destroy bitcoin". Bitcoin first of all cannot be destroyed. It is a decentralised p2p network which means that as long as people are using it, it's going to be "alive". Secondly, FUD relating to bitcoin usually dies out extremely quickly, and FUD is at its highest points when market sentiment is pessimistic which is definitely not all the time. |
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Somehow, this reminds me of the horrors of secondstrade when it was still around. Similar structure, loose rules, etc.
If people accept these horrible rates, then so be it. But the problem is that only spammers will apply to this campaign because a) they have no competent campaign manager, b) the rates are low so they don't have any competition and c) they are able to get paid to do the bounty stuff that they are already doing.
As long as Nexybit pays, I don't think that you can accuse them of being "scammers". But it certainly makes the unprofessional considering they are essentially explicitly employing spammers as their promotional medium which will not end well for themselves.
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Hi Darkstar,
I would like to update my address to bc1q45n2uvxt3h9ta5zfnhtfcslgeyv5rk9qt7fav6 so that it's a segwit address. Previous address was from a hosted wallet.
Thank you for your time,
magneto
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I believe that WageCan[1] has a working card that works worldwide. The only issue is that it costs $225 or $180 with a WageCan referral code. For more recent news I would check out this thread which is pretty active when there is any important news: 2017 Bitcoin Debit Card Reviews
[1] https://wagecan.com/pricingI have the wagecan card and I can confirm that the card works in my country, besides what @TryNinja said, there are some things that you should consider before using the wagecan card:
1 - the way of verifying documents of them takes some time and then you must pass to level 2 verification that consists of subscribing a documents and uploading on their website once the document is approved you may already be able to receive their card
2 - the card came to my country very fast, it took only 4 days, I had to pay $50 in the customs + pay DHL again.
3 - The mode of recharging the card is manual so that it takes up to 12 days. I'll give an example:
you send bitcoin to the wagecan site and then to the card, the bitcoins are converted immediately to US dollars, but you will have to wait for this money to be available to go to the ATM to withdraw with the card ( this process takes up to 12 days ). But if you have a lot of money, then this is not going to be a problem, just send lots of bitcoin to the card.
That's a lot of money to be paying for just a debit card and a ton of steps and restrictions in order to get balance into your card. But Wagecan is one of the only ones left that actually work, so I guess you'll just have to stick with it if you really need a bitcoin debit card. Though, if you are comfortable with such verification and high prices for a card, why not just sell your coins on localbitcoins into your bank account? The process is instant as well and probably cheaper and faster than loading a wagecan card. I believe MisterTango, Epayments delivers to EU area There's also Wirex who recently re-launched their services, their card for now are only available on UK but they said they are going to make it available to whole EU in a few months. If you're willing to wait I'd suggest to take Wirex. If you need it urgently, either use those two or Wagecan. you send bitcoin to the wagecan site and then to the card, the bitcoins are converted immediately to US dollars, but you will have to wait for this money to be available to go to the ATM to withdraw with the card ( this process takes up to 12 days ). But if you have a lot of money, then this is not going to be a problem, just send lots of bitcoin to the card.
I'm curious, they said it takes up to 12 days, but how long does it usually takes for you to receive your deposit ? Wirex is still accepting people on the waiting list I believe. So if you want their card then you should definitely sign up for their waiting list though there is no ETA on when their products will be available to entire EU. |
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My queastion is when wallet status is Maintenance (deposit and withdraw), how long it takes?
Thanks
P.S. It's been over two weeks
Indefinitely until they actually make it active again. If you have any money in the wallets that are in maintenance then you are in a pretty sticky situation. There is really no way of getting your money out until they decide that it's time to fix their wallet. IIRC you cannot exchange any of the coins that are in maintenance either (i could be wrong since I haven't used yobit in a year). Wallet in maintenance is one of the most complained about yobit problems. Even if you write a support ticket to the support, they will not give you an answer and will just ignore you. Just avoid the yobit exchange. They offer no advantages and do not respect their customers, period. |
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Been wondering if crypto had less volatility, and less hype will traditional financial institutions still consider it the future of economies?
I think a stable bitcoin price would mean that a lot more people will be able to use it for commercial use. So instead of having to accept payments through a gateway like Bitpay, and get their funds in fiat currency, they are able to actually just get paid in bitcoin alone. But boom and bust(hype and FUD) cycles ain't going away in crypto. It's just how the market normally operates. There will always be periods of growth in price and decreases in price. Long term trend will probably be quite steady price growth. Hype means nothing for the long run holders because they are holding their coin until adoption on a massive scale happens. It's only good for the traders who take advantage of these price hikes. But as more and more people start accepting bitcoin as payment, volatility will naturally go down as a result. |
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It's quite a typical HYIP scam. HYIPs are getting pretty creative these days and they'll go a long mile trying to make a cover story for themselves. Slow death listed some sites that are based off the exact same idea as well. It's easy to tell that these sites are scams because they guarantee your returns and these returns that are being promised is hundreds of times higher than even the highest paying stock market portfolios will get you. Design of the site is poor, and all the "stocks" that you are buying in are literally worthless digits on their server. It's honestly as obvious a scam as you'll ever going to come by. Don't even test with real money, not even 1 cent. You already know that it's a scam, and that gives the scammers more capital to make scams in the future. |
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Bitcoin is indeed a great buy right now in my opinion. There is aton of FUD being spread around the market regarding regulation and whatnot that doesn't even affect bitcoin's operations. People are panic selling just because a bear market hits.
Although there is definitely a chance for bitcoin to go even lower from this point, this price right now is probably going to bounce up to around $8.5k before any more downward movements come. So buy now and either hold for around 1 month, or for the long term.
IMO it's one of the simplest decisions to make and justify. You buy when everyone else is selling, because that means that you're getting a better price and the same people who dumps now will buy in as soon as bitcoin goes up again. You don't buy when everyone else is buying, as the markets are hyped up and the real winners are people who take their profits and leave others high and dry.
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His account was exposed as a bought account a while back. So it would for sure be a surprise to me if he didn't try to take advantage of this opportunity to scam people. I believe it was also connected to a known scammer's account djeezer or something like that, correct me if I'm wrong.
The scammer has already moved the LTC from his address, or it's an exchange address, there is virtually 0 chance of recovering your funds unfortunately.
Always request to use escrow on these types of purchases. If he doesn't accept then you know he's most likely a scammer. His trust on the forum is nowhere near the $600 you are paying especially since he bought the account at an auction.
P.s. images dont work.
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Tom Lee says that Bitcoin stoping to fall on 17 April. What do you think about this?
He has some point. Even without the tax day or whatever, I think prices have fallen long enough now for there to be a short term adjustment upwards in price. The consolidation at the current level has been going on for a long time, and it's much more likely that we experience a small bull run before dipping further down to the eventual bottom. But just because he said this, doesn't mean that this is 100% guaranteed to happen, even though he is a whale. Prices may have gone up today simply because he had announced this in the news, and he's just taking advantage of this rise in price for his own positions. But his bitcoin misery index is pretty much at an all time low, and that's something that I think is quite accurate. Therefore, whether or not we may be going down further in price, it's a good time to start loading up. |
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Last night, I went to buy some Amazon gift cards with BTC on Gyft. They weren't available. I figured it was a temporary thing, an API issue or something, because that's happened before. But I emailed them about it and they responded, "Amazon is no longer available through Gyft."  Are there any similar alternatives? I really liked having a corporate reseller because you could always trust that their cards weren't fraudulent. With P2P or things like Purse, fraud is really common, so I'm looking for a reputable reseller like Gyft. Doesn't purse have their up to $10k compensation for fraud? If you're buying small amounts, I don't think that it's a problem. Otherwise I think you would have to go with eGifter, or Bitpay if you want a guaranteed clean card. I haven't used neither, but Bitpay has an option to buy amazon gift cards in their wallet that you can specify how much you want to buy. And bitpay is a pretty big company, so I'd say you can trust them with this. If you want to have better rates and you're able to take on some risks, either seek out offers on localbitcoins as an advertiser or post a WTB thread on forum. Both will get you at least 0-10% premium for your bitcoins, but there is a risk that these cards are fraudulent even though they shouldn't be if you deal with reputable parties. |
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Contrarian Investing is an investment strategy that is characterized by purchasing and selling in contrast to the prevailing sentiment of the time
Contrarian investing works very well in all markets throughout history.
Last time when btc hit $20K and turned back, permabear never thought it could reach $20K [most were bearish when it hit $7K / $10K], permabull never thought it would stop at $20K [most were expecting $50K / $100K or even straigh to $1M]
Of all the comments I have heard regarding today's bitcoin situation, I have concluded these are the two prevailing views on the street:
1. Bitcoin is bouncing back into bull market from here after forming the $6K double bottom
2. Bitcoin is going down to $5K or $3K or $1K from here, no break
If we believe in contrarian investing, then these 2 are the only scenarios that will NOT happen.
Hence we are looking at options like
a. consolidating around $7K-$8K for a long time then go down AGAIN / go up slowly [yes I know. Hurts my brain thinking about consolidating here then go DOWN MORE]
b. bouncing back to $10K - $11.5K area consolidating there then go back down to lower than $6K - a huge bulltrap set up
c. going to zero
d. to $1M in a few years time
personally I think option a / b is looking most likely - as they are least talked / thought about [aren't we all surprised by how many more people are talking about c or d instead of a and b!] - according to the principle of contrarian investing
Let me know what you think!
I think that scenario a and b is probably what's going to happen. Either there will be somewhat of a bull trap with bitcoin suddenly surging in value from this point, and after the bull trap BTC going down more; or that bitcoin will just stay at in the range of $6000-7000, but going down further as the support is slowly broken down and there is no sign of any bullish movements. We're not going to see real rally until we actually hit the bottom of this bear trend, possibly $4000. I think though that we've entered the long term buy zone at this level, $7000 or below per coin is a definite buy for me if I had the resources to do it. Option c is not possible, bitcoin is not going to zero even in the worst case scenario. There will be huge amount of buyers under $4000 let alone under $1000 to prevent BTC from going to zero. Option d is possible, but it'll take more than a few years and will probably take at least 3 bull markets like 2017 and mass adoption happening in order for you to happen. |
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Hello
its really F*** up right now. i wanted to sell some coins next week now i see the bitcoin lost more theen 1,5k$ in past days without any reason there is no FUD or anything else rigth now but it still go deeper and deeper.
you think the mark of 8-9k$ is soon back?
We're still stuck with this bear market that may not go away until next year. So I wouldn't expect any sort of big profits being made on short to medium term bitcoin trading. We much more we can fall is honestly unknown, but I'd estimate probably around a $3000 fall from the current level is possible over the period of a year. There isn't a lot of buyers right now and a ton of panic sellers and perhaps whales shorting the market or dumping their coins. Which is why prices are going down right now. Quite the norm in a bear market. $8-9k could be back if this bull run turned out to be somewhat sustained. Price is in the green today and we've been consolidating at this bottom for the past 2 days. Perhaps there will be a rally to around $8k, but I suspect after that the prices will just continue dipping. |
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