It's not just about the fees as well.

There are all kinds of extra charges you have to worry about. Not only because there is a percentage fee, but if you're sending money globally then you have to deal with foreign exchange as well, and that usually will get you around a 5% mark up at least from market rate.

Bitcoin, since it is a universal currency, doesn't have these problems at all.

Plus, transactions and registrations are completely instant with bitcoin, and it makes it a hella easier to deal with real time transactions.

It's good that you're sharing real life experiences of why bitcoin is needed. Many people don't realise that.

Agreed. Especially if the OP of the thread is known to be operating or participating in paid thread bumping in the past, or is a newbie/junior member that just registered their account for posting the ANN thread.

I reckon something like a disclaimer that we see for newbies who send us PMs would work fine.


The thing is, newbies sometimes don't even know how the trust system works. That's why I see a lot of people handing over their savings to known scammers.

I don't think that this post should deserve any kind of hate or anything like that. I personally believe that your post was pretty well researched and written as well. Obviously you have put a lot of effort into writing that.

But others might not feel the same way. I get where they're coming from, since they assume that you're begging for merits.

It's fine to promote your post for merits to a certain degree, and I think you're in the safe zone at the moment. Who even said that it was a "crime" to do this?

You're not ranked enough or trusted enough to be a merit source at the moment. I'd say the minimum requirement would be at least 100 earned merits, at least some sort of trust and/or a full member.

As Darkstar said, would the lender be entitled to ask you for a higher bitcoin repayment rate if you initially agreed on repaying x amount of bitcoin but then bitcoin dropped to the floor? Absolutely not. And any lender that does this will face scrutiny for sure from the community.

That would just be unfair to you, in that scenario. Same logic applies when bitcoin goes up, you don't demand the lender to reduce your repayment amount in bitcoin.

If you were taking out the loan for margin trading, then you are essentially shorting bitcoin, whether in relation to fiat, other cryptos, or whatever. Zazarb by providing the loan is long on bitcoin.

If you were to take out a margin trading loan on poloniex, and you lose money, are you eligible for a discount on your loan? No.

If you really believed that bitcoin loans are actually fiat loans in disguise somehow, then you should have asked for the fiat amount, sent in bitcoin, with interest calculated in bitcoin as well.

Right now you owe zazarb 0.46 BTC. That's a few thousand dollars, I'm sure you can work out a repayment plan with zazarb and work towards it.

Great!

Most of these threads are now refrred to as "megathreads" that people post on solely for the reason of making money off their signature. And usually, all of these replies probably are just the same thing reworded over and over again. So they do deserve to get locked for sure.

It's nice to see that mods are doing something about this, I've seen a few threads being locked before as well.

Care to give an explanation for why this thread wasn't locked? I feel like that's the same as the "what do you like best about bitcoin" thread.

Yep, I've been in the same boat before with this. I didn't even make ROI on my investment, even though bitcoin was going up because the difficulty of mining was simply just going up even faster than the rate of BTC.

So I've not had a good experience with Genesis Mining at all, and other mining companies.

If you are just waiting on ROI now and it'll take you around 1-2 months, then firstly, expect to see a sharp drop in your profits because that's what usually happens. I don't even know, if it's related to difficulty or not. Genesis mining just seems to take away from your profits once your contract is about to be done. Hey, at least you made some money back instead of none at all.

It's not a stupid decision to make, it's just a newbie mistake to make.

Great job, Darkstar_. I agree fully with Joe, this has been by far the best campaign that we've had in a while on the forum. Interesting stats with the merits as well. Thanks for being such a outstanding campaign manager!

This is a typical case where someone's got an autobuy link, and the only reason why he is using the forum is to prey on unsuspecting people. He's got a self moderated thread and he locks his threads whenever he finishes editing or bumping it.

If you're gonna send first to these sort of guys, then you're literally got no chance of receiving what you were here for.

Plus as I'm sure a lot of people have already raised this, why in the world are you trying to get a localbitcoins account? That probably means that you're trying to do some fishy stuff yourself, it is indeed against their ToS and why not just get verified yourself?

BTW the guy's already been tagged multiple times before this accusation. Why didn't you bother checking the trust before sending money to him?

Of course, there is a chance.

Not to mention that the US government isn't the most accommodating when it comes to bitcoin policies. The big bankers in this case probably don't want bitcoin to become that big of a thing as well, otherwise it would ruin their business.

US right now is just like China before its series of bans being put on cryptocurrencies. I really wouldn't be surprised if US exchanges become more tightly regulated with AML laws being strictened as well. All of this will limit access to bitcoin, which is sad. But just another reason to promote p2p trading methods which can't be regulated effectively by any government.

USI-Tech was one of the most obvious scams to start with.

They were pretty much like bitconnect or any other pyramid/ponzi scheme, except under a different name and with a different cover story, ran by different people. But the concept is always the same, they'll promise you returns that are too good to be true. And they are.

The reason why these ponzis are so destructive, you've already mentioned, but it's because even if you do make money, if you're new to all of this you'll think this is a once in a lifetime opportunity and will continue to invest your earnings into the scheme. Eventually, your money will all be eaten.

The team is fake. That's obvious as well. You're right - don't invest.

Have you actually gotten scammed or are you just posting this as a warning as he deleted your post?

If you did get scammed, please provide some proof so that DT members can tag him more efficiently.

However this isn't the first time that he has received a scam accusation under his name. This topic from last year October apparently said that non-working accounts, when he advertised them as working ones: https://bitcointalk.org/index.php?topic=2311300.new

As others have said, never buy direct without escrow from a self moderated thread that is locked all the time.

Some people just have no idea how to research about a project before they invest and that has caused just so many people losing money and saying that crypto as a whole is a scam or whatever. When in reality they are the ones at fault for not doing research.

A quick image search have showed that the images are NOT what they claim the team members to be.

Thanks for the heads up. Clearly this project is running a fraud, and I wouldn't be surprised if they pull an exit scam extremely soon without any sort of product. If any project kicks anyone out of a telegram group just for asking questions, and getting all defensive, then they are most likely crooks.

It makes no sense for people to cash out their stocks and then invest in BTC, when their stocks are dropping and bitcoin's rallying already. It's just a stupid decision to make in my opinion, only a stock chaser does that sort of things.

I wouldn't be this complacent about the current price yet. It's going up for sure, and I do think that it will continue to go up to $10k+, but all time high is going to be hard to come by at the moment.

We may see bitcoin plummet after a last bounce, obviously I hope that it's not the case and we do settle somewhere above $10k since I am long with bitcoin. But markets are unpredictable as hell. Nobody would have predicted this current drop.

It's definitely not being handled well.

Pretty much the right to access user funds have been taken away from this unnotified gap in trading.

I doubt that the intentions of the OP was to spread FUD or whatever but rather is just to initiate some positive and productive commentary about the situation that is developing as we speak. This is no small deal. Binance was one of the biggest exchanges and has established a lot of people's trust. That is being risked right now.

Also, at least one exchange is affected by this. Coinspot which is one of the biggest exchanges in Australia is currently disabling markets as a result of Binance's maintenance. So it's not just affecting binance users alone.

I have full confidence it will. But will it do so in a short amount of time or will it simply take forever for this crash to recover and get back onto track for a new pump? I have no idea and nobody else does, either.

If you zoom out from the short term, though, you'll see that bitcoin is really just returning regressing like every single asset does after a big pump. Nothing surprising here and obviously, ignore all the rumours saying that bitcoin is forever dead after this and so on.

$1k dropped to like $200 but that took like 3 years to rally to $20k. We could be looking at another 3 years from now, but I'm pretty sure it'll be sooner this time.

This is fair, but obviously it's gotta be looked at as individual cases.

For instance if someone that is actively advertising a service where they review posts, and they receive a PM to tell them to review/merit the post in question, then I doubt that there is much damage done.

But if there is a guy who goes around and PM's everyone that has replied to his topic for merits, then it qualifies as unsolicited spam IMO. And that, obviously, should be a negable offense at least in my opinion.

Begging for merits is essentially the same as begging for trust. Not much difference as both are indicators of an account's trustworthiness and quality.

You are wrong about this.

First of all, government can only ban trading sites or centralized entities that interact with bitcoin. They can never actually ban bitcoin itself, as a blockchain. Since it is decentralized, they can't just put up a seized notice like they did with Libertyreserve or egold and then call it a done deal.

Bitcoin will survive, as long as there is enough people using it. That is a fact.

But the second point you made was excellent. Nobody knows but I'd say that we'll have a pump in 2020-2022 and another pump around the time of 2025 due to respective halvings. So price should be higher than what it is right now by that time.

The reason why continuing to examine the bitcoin's value is so unproductive because often you're tempted to sell when the market is performing at its worst and clearly a recovery will happen soon.

And same applies in a market that is extremely bullish, people seem to be tempted to buy when price is going up daily, instead of when price is plumetting and clearly buying the dip is the best decision to make.

Hold your coins, check the price every now and then. But make sure that you don't make hot headed decisions like most traders make and they lose a lot of money at the end. Bitcoin is a long term investment for all to make, not a short term one. Don't invest if you're not patient.

Obviously. It's just taking a break from the pumps.

But just as obviously, whether or not this break from pumping is going to be a prolonged break of a few years or just simply a couple of months of consolidation in the market before bitcoin continues its way up is another question.

Right now, a lot of new people are being interested in bitcoin because they see the price at a lower level again, something that they were unable to sight often in the past few months. So yeah, if you sell your coins now, your bags will simply be taken up by another person. Don't forget that long term holding often yield the most. All of this is just short term noise.

I wouldn't really think that it'll have a major efffect on China's crypto scene from what it is right now, to be honest.

China has already expressed in the past that it wants to restrict access to all cryptos in its country, and this time it is absolutely no different. It's already shut down all exchanges within its border, for instance, which was a huge blow. Then it tightened the mining rules of bitcoin within China.

This was just an extension of the policies that are mentioned above. I believe that this has been long priced in already.

Of course, it's negative news. But it's China. What else would you expect? Plus, do you really think that ICO investors will shy away from investing just like this? They'll use VPNs to invest nonetheless.