Trump was quite unambiguous about his plans to weaken the US dollar. In fact, he already sent the dollar spiraling down a little when he told in his WSJ interview last Friday that the dollar had been "too strong". I don't know how that can be possibly misconstrued toward "a much stronger dollar". If Trump is actually going to "make America great again", he should first make American goods competitive in the world markets, but the only American good that was competitive as of late was the American dollar itself
It is not up to Trump though, is it. The Federal Reserve is independent and reports to Congress not the President. Nothing is going to stop them from raising interest rates - if anyone questions them they will use the magic words "we see inflation building" and Congress will roll over and let them raise interest rates. If American interest rates rise but rates in the rest of the world don't, then the dollar will strengthen. |
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It is definitely a possibility. The writing was on the wall when Coinbase decided to add alts. They have spent a lot of time building infrastructure around bitcoin, merchant apps and so on, and now they are trying to make sure that alts can use the same infrastructure - they are preparing for the possibility that an alt might solve the problem bitcoin now has with small block sizes, long confirmation times and so on.
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If Trump does a spending binge, all that will happen is that the Federal reserve will raise interest rates. Rising interest rates will strengthen the dollar against all currencies and against gold and bitcoin.
Bottom line is that Americans still trust the greenback.
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Trump has made some noises about the strength of the dollar and how he would like it to be weaker, but it is out of his hands. The Fed is on a course of raising interest rates, which will strengthen the dollar. There is nothing Trump can do about that, which means that the dollar is a good store of value.
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So while chatting with my friends on what'sapp group some in USA and some in India, and as you tomorrow is president elect is coming to office. So my Indian friends just suggested since Trump copied Modi (the prime minister of India) line and what if he would declare the $ bill notes invalid, like the Indian pm had done. One reason they cited was to weaken the Mexicans whom he has been against, two to weed out the refugees, just imagine this happening, the btc price will shoot through the sky. Don't you think so.
Trump hasn't got the power to make any dollar bills obsolete. Congress controls money, not the president. I have no idea why people have gotten such a wrong idea about the powers of the presidency. But in reality Congress has power over all domestic matters, the budget, the currency, domestic law. All the president can do is put tarrifs on foreign goods. He can't even wage war. I feel that the Trump presidency will at last educate people about the American constitution, with it's checks and balances and power devolved to Congress and the state legislatures. Very few leaders in the world have as little power as the American President, and that was deliberately designed by the Founders. |
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So the lesson should be that sitting on your ass while others do something will leave you with less economic power. That is why China is the center of gravity in bitcoin. Not because they did something to you, but because they did something. Something you could have done but didn't.
The Chinese miners only dominate because they get free electricity through deals with their govt. That isn't about the west "sitting on their ass", but about an uneven playing field due to hidden subsidies. |
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I have no idea why Chinese traders are reacting allergically, it is not that Chinese government can confiscate or ban bitcoin itself. All they can do is ban official Chinese bitcoin exchanges.
If that happen I am sure that will be have off shore exchanges popping out. There is nothing that can really break bitcoin network down.
It is because they are gamblers. Most of the hodlers are in the west, and western speculators take profits from time to time but don't really panic sell and take big losses on rumours. But Chinese speculators do - I think it is cultural and those manipulating them know this. |
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reasons bitcoin is not ready for mainstream 1. public keys are worse then remembering a car number plate or someones email address, even QR codes are not 100% the solution 2. decimal values, which needs you to look on another service/site to find your local currencies 'rate' 3. tx fee is more than an hours labour in a dozen developing countries (the same countries that could need bitcoin much.. but are priced out of using) 4. the code is not preventing spam and is left for 'economics' to sort. 5. the 'economics' of avoiding spam actually hurts genuine ethical users more than spammers. 6. the solution to spam is to get everyone locked into permissioned contracts, which funnily spammers will avoid as their intention is not contracted payments, but to spam. until bitcoin is as straight forward to just buy something by simply swiping an NFC chip. thus not needing an old granny to have a brain bleed trying to fumble around.. .. bitcoin is not ready until devs stop pretending we are all on dialup 56k internet, and actually stop halting mainnet progress.. bitcoin is not ready The thing is there are a number of alts that solve your problem For example Steem solves #1 as you coins send using a username, #2 in that there is a lot of Steem, so people deal in whole numbers and #3 in that there is no transaction fee and it5 confirms very quickly. Doge solves #2 and #3 There are lots of innovative coins out there but most of the merchant apps etc only cater for bitcoin. When they start adding alts, we might see a solution where one alt makes it big. |
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No fees. This doesn't look to promising because these never last too long and are looking to get people to put their money into their exchange as fast as they can so they can make a getaway even quicker.
they've been around for a long time and they're the only exchange which regularly publishes audits. The bit about audits is very good to know. |
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this is bad news.
au contraire. the current way chinese trading is set up is a cancer on the rest of the bitcoin market. the sooner it's wiped off the face of the earth the better. there'll be short term pain but it's for the greater good in the long run. The Chinese trading volumes are still extremely high. See https://coinmarketcap.com/exchanges/volume/24-hour/all/The only fee exchange in the top 10 is Bitfinex with $28million of volume in the last 24 hours. Compared to okcoin at $633 million volume. So it looks like the bots are still trading back and forth creating volume on the no-fee exchanges. |
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Sounds like a traders paradise, but a bit of a nightmare for 'normal' people!
If I decide I would like to sell 5 Bitcoins, when I withdraw my $4500, I pay 0.38% i.e. $17.1!
That is a lot to withdraw my money, a flat rate would never be that high, and the example given is only 5 Bitcoins
Traders should be welcomed, but I don't see why bots should trade for free, but people wanting to invest in Bitcoin should get screwed.
Good luck to them anyway, we'll see if it works out for them
Yup, it's a lot of money, and the no fee model is only worth it for traders who trade constantly. No sure there are that many traders TBH, but there are a lot of ordinary bitcoiners like you who would like to sell only occasionally. |
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Transfered some BTC from Coinbase and it's taking about five hours to show up. Would LTC
be a faster transfer? I use a LTC wallet on my hard drive.
If LTC is faster than BTC, why don't we use it more?
Initially it was because the fees were set higher than in bitcoin. And then came doge and others which not only confirmed faster but had lower fees. So litecoin sort of blew it at the start with their high fee policy. Then add in that litecoin doesn't have a large community backing it the way bitcoin, doge and ether and others have, and the only reason litecoin is still around is because the chinese exchanges like it. |
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this is bad news.
is this the reason of this big dump?
It could be speculators using this as an excuse to dump. My feeling is that bitcoin will trade in the $800 to $900 range for some time, and that will be a good thing, it will establish a new norm. |
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Do you trust the home of banking to be the new home of cryptocurrency?
Is this be a good thing for the future of cryptocurrency or will this just ensure that the banking system continues to control currency?
Switzerland is locked into all sorts of EU rules as it is in the EU custom union (they recently had a referendum to stop free movement of people and the EU forced them to ignore it). Basically the UK would be a better bet for the home of cryptocurrency are they are going to Hard Brexit and ignore EU rules altogether. |
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With a 1500% ROI at $700 baseline, the $10,000 figure is appropriate (average price of used+new cars) Which implies we're still in the current bubble, we've merely encountered a correction. And the price is now up to $899, which means the blip down to circa $800 was a mere correction. |
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I do wonder where the Chinese miners will sell their coins now. They were using the huge volume of those exchanges as a way to hide their sales. I wonder if they'll go OTC now.
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It depends entirely on where your traffic comes from. Traffic from the search engines tends to be the best quality, but it is hard to rank well on Google. With respect to traffic from facebook, forums and so on, advertisers tend not to respect that kind of traffic (because it doesn't convert well), and you might not get paid as well.
The faucet industry used to be funded by advertising till Google pulled the plug because they decided that the traffic was low quality.
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http://www.coindesk.com/uk-exchange-coinfloor-embraces-no-fee-bitcoin-trading/London-based digital currency exchange Coinfloor has announced it will adopt a 'no-fee' bitcoin trading policy beginning later this week.
With the move, Coinfloor, one of the larger players in bitcoin's still nascent GBP market, embraces a pricing strategy that is comparable to the industry's largest, though primarily China-based exchanges, which have long withheld fees on bitcoin-denominated trades.
Speaking to CoinDesk, exchange representatives indicated that the move is designed to boost liquidity at the exchange, the largest GBP bitcoin trading platform by volume, according to data from Bitcoinity.
...Coinfloor said it will continue to charge for bitcoin withdrawals, as well as GBP deposits and withdrawals. My feeling is that this is just an introductory offer and when they have enough liquidity they will start charging fees for trading.
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its many altcoin can survive, only big user community can survive altcoin
special credit is coin can create token or new coin another dev
1 ethereum (can create token)
2 litecoin (can use technology litecoin can create new coin)
3 NXT
4 xcp
5 dogecoin
6 monero
Add Steem to that, the community is pretty big. |
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