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Well I don't think that the ETF would have been good for bitcoin long term anyway.
I am surprised that the price hasn't really dumped though. It looks like the rejection was basically priced into the market.
A more worrying thing for Bitcoin is if you look at the reasoning of the SEC for the rejection. There are plenty are problems wih Bitcoin, and they don't get into he block size!
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I love that some people say that bitcoin isn't so volatile nowadays and that it can be a store of value!
At 14:20 (in germany) the price was flat. It went up $150 in less than 5 minutes, then dropped $180 in 15 seconds, then went back up $80.
It is several thousand dollars for lots of people, it is scary stuff! Can you imagine getting shorted out, then seeing the price was higher than your buy price 1 minute later??
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100 dollars up in 1minute gg.
ETF aproved or what ?
$200 drop in 5 seconds! what the hell is happening! |
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The price is rocketing, what has happened? Anything or just a big pump?
Maybe there has been a leak, or has something been officially announced?
$100 in a minute suggests something is up!
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This debate has been holding back the price for too long now. It's time for change. Let's make Bitcoin great again.
The all time high was 2-3 days ago! I don't think the price is really being held back ba anything! BU sounds great, until you consider the size of the blockchain, which means that full nodes will become rare and dominated like mining is already. It would be good if small transactions could be resurrected by BU, but I still think a limited (but bigger than 1mb) block size would be best. |
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Bitcoin will not be the 6th biggest reserve currency. Who estimated that? How did they come to this conclusion? As far as the public is aware, Bitcoin isn't used as a reserve currency of any kind in any country in the world. The AUD is currently the 6th biggest reserve currency, but it is also not really used as a reserve currency. Only the USD and EUR are really. http://money.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization/That shows how big bitcoin is in the grand scheme of things. It is 4 times bigger now than then, forgetting that a good percentage of Bitcoin have been and/or will be lost. |
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I don't expect any news until the 13th. I think they already extended the deadline to include Monday, as they won't announce anything on Saturday.
Buy the rumour sell the news in this case would seem to mean that you should sell now and buy back lower after the announcement.
It seems fairly universal that people expect the ETF not to be approved, so buy that rumour (sell Bitcoin), then when it happens, sell the news (buy Bitcoin).
I expect a weekend pump if they really don't announce until Monday, unless there is a leak.
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So Okcoin and Huobi are essentially like Mt Gox was now? You can buy, buy you can't sell.
Sound like we will have ChinaBTCs soon too, much like we had Gox BTCs.
It explains the sell off today anyway. I don't think it is too important, just good to know that sometimes there is a reason behind the market movements!
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This price drop is just another way to shake the weak hands. As long as we are still over the four digit mark, I am still confident that the price would soon recover and might even attempt to break new resistances, especially now that we are just a few days away from the SEC decision on the ETF. With what’s going in bitcoin nowadays andall the speculation that lead to FUD, the good news is there is still a generally positive sentiment towards bitcoin so I wouldn't worry too much and lose any sleep over things.
The price is still high and historically, when the price is high, the price has been volatile! A $100 drop overnight obviously isn't great, but I am more surprised that it wasn't a huge dump, rather that it looks like a more controlled fast price drop. We might well be back at $1250 later today, or at $1150, or $1050! I think ETF punters will keep the price up for a while longer yet though. |
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I would love to know how much time and effort they have spent on trying to crack bitcoin.
Can you imagine if they had leaked that they had a back door into Bitcoin? I would expect a $900 drop if that happened!
I guess that Bitcoin wasn't mentioned is a good thing, they haven't cracked it yet.
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Smart contract isn't something new, far from it. So many people has been learning solidity scripting language in the past years but the only time I was given the opportunity of using a smart contract, I didn't and saved myself from one of the biggest fiasco ever in crypto : the DAO. Right now I just did a smart contract unexpectedly for a real use case and it went like :  That's it. I literally had no idea I was doing a smart contract if I wasn't told it's a smart contract. I needed to trade with a total stranger on the Internet, the escrow wasn't available so we just did a smart contract through the chat box. That's how smart contracts should works : for a real use without being aware you're doing a smart contract. Looks good, mind blown might be a bit of an exaggeration, but using your own smart contracts is pretty cool. I don't really see how I will personally use smart contracts, but banks and businesses could and should be doing it a lot. Could this not be done using ETH? I know the wallet sucks, but I assume a simple smart contract would be possible there too. |
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I do think that the ETF will be rejected again, and I do think that Alts will rise due to that, but I question whether Alts will rise in USD terms, or if they will rise in Bitcoin.
Even quite large rises in the already high prices of monero and dash could result in a dollar loss. Now that would be better than holding Bitcoin, but there is always the risk that the ETF is granted, Bitcoin rises massively and Alts are left behind.
You pay your money, you take your chance!
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The website looks good, but I don't think the laws are black and white so it is hard to declare your taxes correctly.
In Germany it seems to be unknown whether it is First in First out, or Last in Last out, something that makes a difference.
Also we need to hold bitcoin for 1 year, then profits are tax free. Does that count too for alts? What about when I hold my alts for 1 year, then sell for Bitcoin so that I can then cash out? Is that then tax free, or do I pay as the Bitcoin wasn't held for a year?
That's why I don't trade, I hold bitcoin for a year or more, it makes it so much easier!
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I have been a little out of the loop in the world of alts recently.
Why did Dash explode and Monero not? I know that the price of Monero has been rising too, but the Dash/XMR ratio is higher than it was.
Did someone start to accept Dash, or is it just speculuation (PnD)?
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...
I cheer that the price of Bitcoin is now over that of 1 oz of gold. Great.
But, I recently read that Bitcoin does not have history (this of course is not a new idea), it has no long-term record of going through the cycles of economic and even political history. Bitcoin is unproven going into the future.
Bitcoin has shown itself to be reasonably sturdy in recent years and is catching on, more slowly than I would like, as a payment mechanism (a currency).
There are many facets of looking at the price relationship of Bitcoin and gold. In this thread, I invite comments re history and its relevance on gold and Bitcoin as Store of Value, now and into the future.
It is worth noting (in my eyes anyway) that you can't actually buy 1oz of gold for 1 bitcoin yet, or where I have looked it is still 1.00x BTC for an ounce. Bitcoin is far more volatile than gold, that is a good thing at the moment, as gold is slowly falling/stagnating, but Bitcoin is rising quickly. I will get some gold in the near future, but Bitcoin is far more exciting to me at the moment, but it can quickly become more scary too when it drops like a stone! |
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Good to see India getting involved, they have always been big buyers of Gold, but they have been cracking down on gold ownership recently.
Stupidly getting rid of 'large' denomination bank notes not only hurt their economy, but destroys trust in their currency.
I like the quotes on the Unocoin website:
"Bitcoins per se are not illegal in India. This is in consonance with international approach"
per se not illegal! not confidence building!
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I think a lot of people is going to go bankrupt with their short expectations.
ETF or not, bitcoin is growing and too strong, it will keep growing. If the ETF is rejected, it just means we are closer than we were from an ETF getting accepted. The SEC will give up the final recommendations and changes required for the ETF to get passed the next time. This is a long term race. ETF rejected means nothing. Shorts that are expecting a big crash may have their short positions backfire.
So you don't think it will rise sharply if it is accepted then? The price now will lie between the price of if the ETF is accepted and if it is rejected. Apparently there is a 1/3 chance it will be accepted and a 2/3 chance of rejection. So the price rise should the ETF be accepted should be double the fall if it is rejected. Still we don't know how much is priced into the market, except that we are at ATHs. There are obviously not too many shorts at the moment, that is why the price is at an ATH and rising! |
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My girlfriend buys postcards online, generally they cost $1 for normal cards, maybe a little more for arty or special cards.
$30 postcards will not sell! You could sell $30 meme T-shirts, but as you note yourself, postcards don't cost anywhere near to $30 to make, thus people won't pay that much for them.
I think popular memes are already printed on all sorts of suff, you would have be very upto date to get people. Assuming the postcards aren't hugely overpriced as you mentioned.
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Where can I go to start a new coin?
If you don't know, then you shouldn't start a new coin. It will be worthless, you have no innovation, you won't know how to fix any bugs etc. Just leave it to those who know what they are doing, they are crapping out enough shitcoins for everyone! |
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I like the idea a lot, but it seems like it is just showing that Bitcoin has problems that need to be fixed asap!
If I mess up a transaction in the future (as I did recently and had to ait 4 days for it to go through) then I would definitely give the accelerator a go.
I hope it won't be needed long term though!
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