There is not much clarification due to there not being a reason as to why they closed your account. Are you sure they didn't send you other emails or notifications stating the exact reason? I'll have to assume that the country or state you live in is excluded for legal reasons, or you have somehow violated their terms of agreement, or you are underage. Mind telling what country you are from?

They at least don't suspect you from illegal activity, otherwise they wouldn't have allowed you to withdraw anything.

That should be enough to know that it is a scam. How will a site randomly allow you to win a few Bitcoins worth over $10,000 without doing anything?

It's like the Nigerian Prince tell people they can obtain a cheque worth $10,000,0000 but they have to pay an international banking fee of $1000.

Move on. You won't even get one single Satoshi.

It's just a smoke screen to make himself look like he isn't involved in such practices. There is an increasing level of discomfort amongst the larger investors due to their anti Bitcoin 'Core' campaign, and it has become so amateurish, that it scares off investors knowing how things work. BCash can fool noobs as much as they want, but that doesn't work with large investors actually thinking before blindly jumping into something.

Bitmain has to sell gear, and the longer BCash's anti 'Core' campaign keeps going, the more potential revenue they will lose. Remember that Bitmain won't remain as big as they are right now for ever, especially not with new (more wealthy and powerfull) players entering the mining space.

Also don't forget that the BCash mining cartel significantly contributed to the massive spam attack last year, all to troll the network. This dude is poison to this ecosystem.

I definitely understand your point, but it's not as easy as it may seem.

Right now we have a few important levels that might or might not act as base support levels.

$6000
$5500
$5000
$4000

You can only look further after we have broken through these base support levels one by one. In other words, the price can just as well remain above $6000 for ever, or fall back down all the way to $4000 at worst. Important is the difference between these levels. The speculation around the future markets had a massive impact on the market, and it kicked in somewhere below or just above the $4000 level.

If we are getting rid of the future market speculation levels, ~$4000 should be the bottom. If the market appreciates at least some speculative layers on top of itself, then we should bottom out well above $4000. This can be seen as an unsafe prediction.

My safe prediction is still $6000 as base.

Yes, that's very plausible; a $40 million trashcoin theft results in the overall market to lose +$40 billion in value. 

Just wait for when Chuck Norris starts farting on this market, crypto's total market cap will be reduced to dust.

On-chain there basically isn't much (close to zero) privacy, but off-chain (LN's second layer) will allow you to enjoy more privacy than ever before. In other words, from zero privacy you go to a decent level of privacy, which is a pretty significant jump in my opinion. The more nodes and adequately funded channels, the more anonymity there will be. At some point people will compete with each other by providing liquidity to LN, and that will make sure there is less hub centralization as some naysayers constantly keep hammering on.

It will likely take years before we can see Bitcoin and basically any other crypto to become more of a currency.

We need to get rid of the destructive overall greed focused mindset, and also get rid of Bitcoin's massive long term potential. The higher the price is, the less speculation there will be when it comes to even higher increases. At some point there will be a limit, and that limit will help make Bitcoin the currency that everyone wants it to be.

That's it, we have an option now. Good thing that comes from this is that Visa & Co never had any real competition, which allowed them to legally extort people as key players, and that has changed now. All financial institutions will eventually have to compete with crypto in order to offer the people the best and cheapest possible service.

Let's look realistically at the other top coins.

Ethereum, heavily centralized around a few key entities.
XRP, heavily centralized around a few key entities with insane premine worth several billions.
BCash, heavily centralized around a few *mentally unstable* entities with insane premine worth hundreds of millions.

The rest isn't even worth talking about.

The biggest and most decentralized coin in the market will always be showered in negativity coming from the other platforms. They don't have any other way to gain attention.

XRP can't even push higher daily volumes than Litecoin on its own.

Don't trust those who walk around in business suits trying to look important. These are the people we try to avoid with Bitcoin.

Are you trying to comfort people into thinking it's safe to use because no one can withdraw their funds?

With people's API keys you control what happens with their funds on-exchange, and while you can't withdraw using API keys, you can use people's funds to pump a shitcoin that you bought into, and then dump everything and withdraw through your own account. Binance stopped such an attack not that long ago, do you remember?

Noobs don't have any understanding of how to fundamentally break down code in order to search for backdoors.

I'm not saying you are doing the same, but be aware of how much of a target people are.

If you haven't sold at higher levels, then don't bother selling at current levels.

The previous bottom has been broken through which means that we are pretty much 'guaranteed' to test $6000 this week. It might bounce right up from that point, but it could also dip briefly below $6000 if the support isn't there. The lowest bottom below $6000 is ~$5500'ish, which dates back from November of last year.

People shouldn't panic, instead, the coming months might actually prove to be an early black friday and cyber monday sale. If you hold expensive coins, use these lower levels to buy some more in order to significantly lower your overall entry point. Once the Coinbase fund starts going live, which is only a matter of months, they will suck out a large part of the circulating coin supply, so don't wait too long. If we also add the potential ETF approval of VanEck this year, things will definitely change for the better.

Today's "hodlers" don't deserve to be called hodlers.

If you believe in Bitcoin's fundamentals you will hold through regardless of the price. It's people's fault to enter during a bull run, not Bitcoin's. If you don't understand what you are investing in, then don't invest. Everyone who's complaining has entered the market at +$10,000 levels in the hope that it will go x2 or x3 within a few months. That has nothing to do with investing anymore; it's called gambling.

When you buy 1BTC, you buy 1BTC, and not a bag full of cash with a hole in it where value is dripping out. The price won't ever change that you have 1BTC in your wallet. It's time for people to get rid of their fiat bias.

I love it! It will make Bitcoin only stronger in the end. The less debt is used to enter this market, the less instability there will be in the long term.

Debt is exactly what makes the current financial system rotten to its core, and these financial institutions by doing this are helping everyone to keep Bitcoin's market clean from any sort of poisonous influence. I would advice all financial institutions to follow this path and to prohibit people from spending money they don't have. Let's keep that garbage out of Bitcoin. Thanks.

Another added benefit is that these actions once again show that financial institutions dictate people's lives, and obviously, an opposite reaction will follow.

Correct. In case there is a new project that gains people's interest, there isn't new money flowing into that project, but money will flow out of existing coins right into the new one.

I am actually quite surprised with how altcoins haven't managed to come up with something really groundbreaking in the last years. Plenty of features they advertise with, barely any use. Only Ethereum managed to actually position itself in the market properly, and we see how that lifted its price significantly. Now it's waiting for Ethereum to dethrone itself or have the ICO hype come to an end.

We also have Monero, which is quite a technical revolution in privacy terms, but it's being put to waste on centralized exchanges.

It's actually a very interesting development. I have been following some discussions online about how people initially were praising how a cashless economy would benefit them in various ways, but when you make them aware of how they will lose practically all their privacy, they suddenly don't like a cashless economy anymore. It's very much the ignorance of people making them not see any risks, but what else can we expect from average joes?

I remember a case where a larger supermarket in my country was linking people's debit cards to their store tied bonus card, which they could then link to their Facebook account. While browsing through Facebook people were flooded with all sorts of ads very much related to what they bought previously in that supermarket. It's quite a scary thought, because that information can and very likely will land in the pockets of health insurers.

And remember this is only one example of the thousands that people will be exposing themselves to. It will eventually result in more discrimination, exclusion, poverty, debt, etc.

You perfectly describe the structure of a scheme, which means that people shouldn't be very careful, but completely avoid it. It makes no sense to use something from which you know that it is a scheme, and that it will likely stop paying out at some point in the future. People won't face challenges and losses if they don't mess around with this garbage, how difficult is that to understand?

And what is that critical point? They will just make you lose out and they are all fine.

People know that cloud mining sites will stop paying at some point, and yet they complain afterwards when everything happens they beforehand know it would happen.

Long term speaking, some level of scaling needs to happen on-chain in case we want Bitcoin to handle high volumes later on. Even if all merchant transactions are being processed through the second layer, on-chain scaling needs to happen one way or another. I however find it quite difficult to even imagine what would be needed in order to make Bitcoin scale properly.

People think it's just a matter of a few simple tweaks and that's it, but that's not how it works. Every minor adjustment can have major opposite effects on how the protocol functions. I can perfectly understand why the Core devs are pretty conservative with how they operate. One mistake can have a tremendous impact on Bitcoin, which is what you at all cost want to avoid.

Also, LN needs to prove itself as well. The real stress test happens when the mass gets involved. There are various sides to each story.

What happened to Bitcoin? What happened to the people!

Charts show clear manipulation. The dumps reset the market to lower levels, where if you look closely, no dump means stability till the next dump.

Retail traders aren't selling; all dumps that you see right now are very likely meant to milk BitMex in combination with high leverage trades.

Chillax. You can start worrying when retail traders start massively dumping their coins.

It might not be the standard definition of a ponzi scheme, which is why I called it a legal ponzi scheme, but the core structure is almost the same.

Third party wants to put your coins to work; check.

Third party promises you a reward per whatever time frame; check.

Third party can mess up with coin loss for you as result; check.

We are talking about a party that doesn't have much past history in this field, which is what I consider to be an extra risk. The problem with this is that it works till it doesn't work anymore, and when it doesn't work, you have no insurance, no backup fund, nothing. Perhaps I'm too paranoid, but we shouldn't take risks with semi high probability of losses.

I find it quite funny that each time the price is going down, it has to be the result of regulations, hacks, power consumption, etc.

It has nothing to do with anything of that. The market is trying to adjust itself to more appropriate levels after all the hype that we went through, which is rather difficult with how seperated the market still is. Bitcoin has grown too fast, it's time for people to accept it. The pump back in 2013 was fake, and the most recent one was fake as well; the chart patterns are almost identical.

Good thing is that we have some crazy bullish funds coming up, hopefully this year. Both the Coinbase fund and the VanEck Bitcoin ETF are backed by actual coin supply. This will make sure that the current excess of coins will quickly dry up again. You can imagine that a lower price will only motivate investors to jump on board.

I don't want to hold your hand, I want you to sell me your coins at the lowest possible rates.

This is a market where the weakest will get shaken out, and that's exactly what's happening right now. While people complain about how they can't handle the market and whatnot, long term holders have done the right thing to cash out at near peak levels, and calmly buy back their coins on the way down. I have been doing that too, and for that reason can look forward to even lower prices. It's a gift for me.

On the other hand, people keep complaining about how the price is going down, while they can make a decent bit of change from this downtrend. Just use your brains and stop being so short sighted.