|
I may well be naive, but I also don't understand why or how the cash based futures market will move the bitcoin market.
They are basically betting on what will happen in the real Bitcoin market. Unless they then try to move the real market by buying or selling real Bitcoin, I don't see how they move the market.
It's like betting on a Football/Soccer game. I can bet $100 million on a poor team winning, but it doesn't make them winning any more likely. If I gave them money to win the game, or the other team money to lose, that would be different, but isn't the point of the bet/futures market.
|
|
|
|
so I have an online store and i have bitcoin-qt on linux box as payment gateway I generate an address for each customer and they send various amounts to these addresses the issue is that when i come to withdraw from BTC server, the transaction has multiple inputs and that causes it to increase in size ( we are talking about 5kb minimum tx size) and fees become insanely high like today i wanted to with draw $500 worth of bitcoin and the low recommended fee is $160 so what do i do about this  and another thing who here can help me unstuck a tx that has low fee Wait until the fees required are low (not at the moment) Check out this website to see when that happens. https://bitcoinfees.earn.com/There are times when you can send Bitcoin with 10sats per byte, so for you it would be 10,000 sats. That would be like $1.45 for you to get all of your accumulated Bitcoin into 1 address, ready to be sent in a normal transaction later. It will probably never be fast to send with a 10 sats fee, but as long as you are sending it all to one address that is under your control, you can choose the timing and can be patient, it doesn't matter if it takes a day to get a confirmation. Even now, if you are patient you can send with a 10-20 sats per byte fee and it'll be confirmed in the next day or so. don't pay $160, just be patient. Otherwise you can pay for a tx accelerator. I have no idea if they are good, but you can try. |
|
|
|
|
Most alts seem like they took a kicking when Bitcoin went on it's crazy rise.
That is except IOTA. So I would expect that the other big alts would catch back up with Bitcoin over time, but who knows with IOTA.
LTC seems to be being used as a way of getting money out of Bitfinex, so is being traded a lot and has gone up. I would expect ETH, XRP, DASH and others to follow soon enough.
|
|
|
|
Did anyone else see this on CBC yesterday? https://www.youtube.com/watch?v=2H6zzWIu7VkIt's a shame that the pro-Bitcoin guy is clearly an idiot! Spread your coins over 4-5 exchanges so that if one gets wiped out, you 'only lose 20%'. OR how about keep none of your coins on exchanges? He clearly has no idea about crypto, he is just riding the wave higher. I won't be sad if people like him end up on the wrong side of this. He also failed to answer about when he first bought in or what gives Bitcoin value. Both fair questions. Funny though that he started getting interested in July, so he really is a true believer when he has been in for 5 months! |
|
|
|
|
I was about to post something similar to what the OP said here.
Bitcoin is very fashionable at the moment, but also bubbling like crazy.
If it starts to fall, some money will move to alts looking for returns. When you see the BTC price of many of the top alts (except IOTA), they are very low at the moment.
I see a perfect storm for a big pump in LTC, ETH, DASH and XRP at least.
|
|
|
|
|
My only experience of futures are with precious metals.
It is generally considered to be a bad thing that people can trade paper Gold and Silver, as they can sell without buying.
At the moment people have to loan out Bitcoin to sell it, in the future that won't be the case. I expect a short term influx of money, but long term it probably won't be great for Bitcoin.
|
|
|
|
|
I was just checking out the chart for the Dot com bubble.
The market actually only went up from about 800 to 5000 before falling back to just over 1000.
So it made me wonder, has there been a major market that has risen 10x+ over a year or less and has held its gains i.e. not fallen back near to the start price.
Tulips and the Dot com bubbles are well known, but there must be cases of exploding markets that stayed high. I am looking for a good Bitcoin-esque example to reply to the haters (my brain included!)
|
|
|
|
|
Go to your local exchange and see what they current trade price is.
I tend to use Bitcoinity and look at the USD price, even though I only ever trade using Bitcoin.de in euro!
Bitcoin average is a fair price too, then use something like XE.com to convert into your currency. There might be differences between the rate that that shows, and what you are offered localls though.
There are lots of ways to find out. The price is so volatile that looking on a forum is a bad way to find out the price is a bad way, it would be $500 different when you read the reply!
|
|
|
|
I dont know how high it will go but that is how low it will go. Just a humble call made purely via pattern extrapolation. Since you so strongly believe it will not happen, that is exactly why it's going to happen. I have no further arguments.
You don't have any further arguments? I might have missed your original argument too then! If you want to make a case for a 70% fall, feel free. There are plenty of reasons you could give, such as Bitfinex being dodgy, or Tether folding, or fees rising too high, or that it is massively overvalued now, or that a better replacement will come along and surpass Bitcoin. But just saying, it'll fall 70% and that's all I got to say about that is pretty weak. |
|
|
|
Even if I use the euro currency for selling, it does not really affect me psychologically. I usually use the dollar while I talk about Bitcoin or even when I read the news and I think it's the same for the majority of people The tax situation is much friendlier than the US in most EU states, there are more Europeans, though of course USD is more global, and they're cleverer and more attractive than Americans too.
Yeah, europeans taxes are so friendly. That's why all the international firms are moving manufactories in poor countries and moving the headquarters in countries with rude taxes like Panama, Belize and Luxembourg. And all this after the countries helped them by giving millions of euros in exchange to stay in the country and create jobs. Now they took the millions and go out of Europe. I'm the same, my bank account is in Euro, but I look at the price in USD. I find that the price in Euro is often less accurate than the USD price. When I trade I trade on Bitcoin.de, but the price is all over the place there. The German system for tax is great, hold for one year and it's tax free. For those of us who bought in 2014, that is a double bonus (the massive price rise being the other) |
|
|
|
Bitcoin is on the brink of mainstream adoption and we can see with our own eyes that network effect starting to kick in.
At the same time, it is still niche, an unknown phenomenon and nerd money for a majority of 'normal' people.
I am not surprised that people are not asking about bitcoin payments because even bitcoins users assume that no brick and mortar shop accepts BTC so there is no use to even ask.
So it isn't actually used, but it has a higher value than the total number of GBP or Rubles that are in circulation? I am pretty sure that the GBP and Ruble are actually used everyday by a very large number of people, Bitcoin is used by a few people but is generally just used as a store of value. A store of value is all good and well, but actually given what Bitcoin is, that is all just based on trust, and that can go down a lot. Bitcoin can't be used as a currency, it isn't fast enough or have enough capacity to do so, that could change if improvements are made, that is IF improvements are made, who knows if and when that will happen. I definitely think we are nearer to the top of the price curve than the bottom now, it's rising very quickly for no real reason, |
|
|
|
|
The Indian government is happy to remove most of their bank notes from circulation so that they can better control the population's use of money.
I'm sure they will allow people to but Bitcoin then!
Bitcoin is the Indian government's worst nightmare and they aren't afraid of just screwing people over to keep control so I guess they will either ban Bitcoin transactions or exchanges.
|
|
|
|
According to their website there is a supply of 210mil BCDs. I see nothing new or of note with Bitcoin Diamond, even looking at thier own comparison chart, the only difference to BTG is the number of coins total. The amount is encrypted too, does that mean they want to be anonymous? Was it too difficult for the BTG scammers to cash out so this time they will make an anonymous fork to facilitate the theft of the new coins!? Edit: they entire team is anonymous and they can't spell forked! No worries there then! |
|
|
|
|
I see at least two types of dump. One is the quick - move your Bitcoin into alts dump, that moves their price up. This is more of a trade and keeps money in the ecosystem.
The second type is a real SHTF sell, where people are cashing out. They are selling whatever they have as they think it is going down.
The number of transactions in the blockchain should show the difference between the two, I think the 2nd type is the bigger move, I mean we are all used to $300 falls now, but $3000 falls do scare even the loyalest HODLer.
Tether is scary for Alts and Bitcoin alike, so if it is Tether related, I can see why everyone would sell everything!
|
|
|
|
The only positive change over the last 24 hours on Coinmarketcap (top 100): Tether...
By that logic, all fiat and even precious metals had a green candle against crypto. Lol Yeah, I'm about as anti-tether as anyone now, but that would be expected if USDT was doing it's job of tethering to the USD. Bitcoin fell, so the USD(T) went up in comparison. The real problems will start when that isn't the case, rather USDT falls with Bitcoin out of the 1 USD range, then it could come crashing down. |
|
|
|
|
Is Bitcoin diamond supposed to offer something new?
I will be very cautious about future forks after Bitcoin Gold advertised a wallet that stole my BTG.
I wanted to try to sell as soon as possible, instead I lose over $1000 worth of BTG. Bitcoin Diamond will probably be no better, they are a playground for scammers.
|
|
|
|
|
So when it falls by 17% it is incredibly volatile and something needs to be done.
What about the 2 days prior when the price went up $3000? Even in the depth of the flash crash, the price was up for the week! I understand that some people will have averages of above $10k now (crazy) but a short term crash that recovers quickly isn't a new thing it bitcoin. The actual size of the crash was probably the biggest ever, but the percentage was fairly normal.
|
|
|
|
Bitcoin has often been called "the honey badger of money" for its resilience- but the market price is extremely fragile. Granted, BTC has had previous climbs and drops like this, but with extremely high, psychologically loaded price levels achieved, the correction- or crash- was even more worrisome.
The peak price caused BTC owners to try to move their coins to an exchange, causing another large transaction backlog. For about three hours, the Gemini trading platform was in crisis mode, trying to deal with the influx of transactions and orders.
Users shared stories of orders not getting filled, especially buying at the lower price. The five-hour event, called "the crashening", affected altcoins as well, with some accidental drops to very low prices, as low as $10 for Ethereum at one point and $3 for NEO.
A Telegram group was formed to discuss the strange behavior of the Bitfinex page that did not allow the normal closing and placing of orders, and led to negative account balances: As Bitcoin prices continue to drop, and there are more than 63,000 transactions pending, the selling may continue in the next few days, with prices of $8,000 predicted for Bitcoin, but buyers still ready to buy in case of a deeper correction. At the moment, Bitfinex trades BTC at $10,145, while the Korean markets still hold above $11,000, a curious disparity.
It sounds like it was a shitshow yesterday during the drop. Most of the big exchanges folded under the pressure, I wonder if they were DDOS'd too, or just couldn't handle the traffic. It also looks like there were some margin calls, which isn't too surprising given the depth of the fall! I wouldn't read too much into it going forward. That Bitfinex is in troube is already well known, I doubt Coinbase and Stamp are though. There are frequent flash crashes, knowing bitcoin we'll see a new ATH in the next day or 2! |
|
|
|
|
What does adoption even mean anymore? Does anyone use Bitcoin? I do, but every time I do I remember how much of a hassle it is to use!
It takes ages to confirm, fees are high, unless you have your wallet on your phone, you can't scan an address, so you have to write it in.
People don't even want Bitcoin to be a currency, they just want it to be worth more tomorrow than it is today. The whole HODL bollocks shows that. Instead of HODL how about go and spend some of your Bitcoin, then buy more! That is a bitcoin economy and is of worth, digital gold is just digital gold.
I am amazed at how easily $10 was breached, and $11k a few hours later. The price rises by as much as the entire January 2017 Bitcoin value in a matter of hours now. The market is broken, I as a holder am happy with the price rises, but nothing justifies the price now as far as I am concerned, I expect a fall, I won't be happy if and when it happens, but I expect it. It would have to fall 80% now to get back to March levels, I was happy with the price in March too! Anything is possible, up or down now.
|
|
|
|
|
Show Posts
