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Bitcoin being decentralized and transactions irreversible, it's quite difficult to put Bitcoin under existing consumer protection policies.
In 2015, New York State Department of Financial Services (NYSDFS) introduced BitLicense, a stringent regulatory framework for digital currency businesses operating in New York. It was aimed at providing consumer protection, but still it wasn't taken well by the Bitcoin community.
We might be seeing countries coming up with their own licenses for Bitcoin businesses. As far as they offer consumer protection and doesn't lead to too much centralization or stifle innovation by barring new entrants, it is good.
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A guy bought 90 B2X futures for $85,000 expecting the SegWit2x coin will become Bitcoin and thus walking away with a substantial profit. I am sure a few more individuals bought B2X with the same hopes, but since the fork was cancelled their gamble didn't play off. Did there was a 30% drop in hashrate? No. Bitpico, an individual or a group, claim to control 30% of hashrate, but they claimed in an email last month that their pool accounted for 1.72% of the global hashrate and that they are in the process of deploying an additional 3-4% by the end of October. Now it is suddenly 30%, a highly unlikely scenario. Seems like a price manipulation ploy by those who bought B2X futures. https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/2017-October/000420.html |
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So i'd like to become a publisher and earn money from ads on my website with CoinAd, but they require an invite... Could someone possibly hook me up with one, OR perhaps guide me where i could get one?
Since CoinAd is the highest paying Bitcoin ad network, they have strict website approval policy, new publishers are only accepted on an invite only basis. If your website is a faucet then it must have unique design, alexa rank should be under 100k, with over 100k daily page impressions. Or find someone who is willing to sell their website with CoinAd invite. Move this topic to microearnings section. |
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No, IMO this sudden increase in price isn't good for Bitcoin. The recent surge has nothing to do with real adoption, it is purely speculative, driven by price movement and irrational exuberance that Bitcoin price would increase forever. Yeah, this sudden increase in price would attract more speculators and would lead to further increase in price, but realistically speculative growth isn't sustainable. At the first sign of correction, these get-rich-quick adopters would be the ones to panic sell. I don't have any doubts that there would be a major correction, it is good and necessary, helps real adoption.
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Bitcoin does benefit early adopters, but not unfairly. With any new technology or startup, innovators and early adopters are the ones who invest their time and resources on an untested/unproven technology and take it to the point of critical mass where the technology becomes widely more accepted and the adoption rate becomes self-sustaining. If doing so, they are benefiting, there is nothing unfair about it. If the early adopters of Bitcoin didn't had faith in it, took risks, ignored the potential, and didn't gave away large number of Bitcoins for further adoption there would have been no Bitcoin adoption.
I don't think the terms unfair and early adoptors go hand in hand. Like I said, be it any technology like Bitcoin or startups like Amazon, Microsoft, or Apple, if the technology breaks through and is widely adopted then early adopters will get rich.
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1. The logic behind Amazon not integrating Bitcoin as a payment method might be as simple as there isn't substantial demand for Bitcoin as a currency/medium of exchange.
2. Volatility.
3. Regulations. Apart from a couple of countries, Bitcoin isn't recognized/legalized as a currency. Additionally, in the US, every Bitcoin payment is liable for capital gains tax.
Amazon has its own virtual currency, Amazon Coins. I am sure that Amazon will accept Bitcoin, but when depends on demand, volatility, more clarity and less uncertainty.
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COBINHOOD (Beta) would be the world’s first zero fee high-frequency cryptocurrency trading exchange. It provides spot trading and margin trading with zero trading fees and has the ability to process more than one million orders per second. COBINHOOD currently supports the following cryptocurrencies: BTC, BCC, ETH, ETC, LTC, ZEC, XMR, XRP, COB, NEO, OMG, USDT, DASH, IOTA, EOS, REP, and GNT. Fiat currencies: USD, EUR, JPY, KRW, CNY, HKD, CAD, GBP, AUD, and NTD.. https://cobinhood.comhttps://medium.com/@Cobinhood/what-is-cobinhood-cob-and-why-should-you-care-e5662ab5361d |
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The Indian government is implementing Blockchain technology in different sectors. Clear Chain, banking and finance. Proffer is partnering with the Government of India to work on concepts like India Chain, another blockchain infrastructure for a Digital India. If India Chain rolls out then the world's largest biometric identification system, Aadhar, 1.2 billion IDs would go big on Blockchain. https://proffer.network/hackathon |
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A source close to the Indian regulators disclosed that India may have a complete ban on encrypted currency transactions and implement similar regulatory measures with China.
If this is true then its gonna be sad for our Indian bitcoin community here because they have been in bitcoin or crypto for so long now that a total ban will really took away some of our friends source of income. However, I can't find any source for your information so its better you post your link here. That may be completely a fud.
But whatever it is even that happens price will drop only and you will have good price to buy more.
And at the end of the day there are so many OTC options we have ,we donot have to worry about any governments ban.
If better be another FUD. Yes, I think that OTC will be another options if Indian government really put a hammer ban on bitcoin. When China put a tight grip of bitcoins, the Chinese goes to OTC and I think it was reported that millions has flown in the last 2 weeks alone. Yesterday, Economic Times had reported that a government panel is said to have advised closing cryptocurrency dealers in India and multiple media outlets are just reporting it citing ET as source when the source itself didn't provide any concrete evidence, just a rumor. Yeah, if the Indian government shuts down exchange then like China, traders would move to OTC platforms or foreign exchanges. Maybe Indian exchanges would move their operations to some other country. https://economictimes.indiatimes.com/markets/stocks/news/war-on-bitcoin-govt-panel-seeks-crackdown-on-crypto-currency-dealers-in-india/articleshow/61450361.cms |
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What subject are you studying? Depending on what it is I'd recommend taking more of a blockchain approach rather than just Bitcoin itself. That enables you to talk about further technologies and practical uses as well as mentioning ETH too.
But again, it really depends on your course title.
Thank you for your response. I am studying the Finance (Banking and Asset Management more precisely) but I would like to write about the Bitcoin because it really interests me. I could maybe talk about the links between Bitcoins and the finance world. For example as research questions, what effect on the world economy would the adoption of bitcoin as universal currency? If you have any other ideas, don't hesitate... Fractional Reserve Banking and Bitcoin. It is an interesting, but controversial topic because the dynamics of traditional FRB doesn't apply to Bitcoin and the role of central bank is irrelevant. The monetary base of Bitcoin is limited to 21 million, but money supply can be increased by Bitcoin derivatives, Bitcoin futures, ETFs, Bitcoin Bonds/Bitcoin-based debt instruments. While fractional Reserve Banking with Bitcoin is possible, there is disagreement over what it would entail. Would FRB emerge in Bitcoin economy, if so how, free banking, exchanges as depository institutions, or central banks? https://en.bitcoin.it/wiki/Fractional_Reserve_Banking_and_Bitcoinhttps://bitcointalk.org/index.php?topic=51899.0 |
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The chess match between the banks and Bitcoin just got real. CME Group, the world’s leading and most diverse derivatives marketplace, announced that it intends to launch bitcoin futures in the fourth quarter of 2017, pending all relevant regulatory review periods. The new contract will be cash-settled, based on the CME CF Bitcoin Reference Rate (BRR) which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin. Bitcoin futures will be listed on and subject to the rules of CME. Bitcoin futures are explicitly not going to be settled in Bitcoins. They will be settled in dollars. This means that this contract is a means by which to use unlimited dollars to control the dollar price of Bitcoin.
Now we know why the SEC squashed all Bitcoin ETFs. It had nothing to do with liquidity, valuations or consumer protection. It had everything to do with creating synthetic bitcoins made of of dollars to be used by the big banks to dominate and control the valuation of the market.
Anyone who doesn’t believe me in saying that has never watched a minute’s worth of the gold trade.
This is how they control the gold price. They issue unlimited supply of paper gold, settled not in gold but in dollars, to keep the price in the range they believe it should be kept in over a particular period of time.
This is done to suit their needs, not the needs of the gold market participants, i.e. the mining companies, investors, end-users.
All markets are subject to manipulation. And when the manipulators are a protected class of bankers controlling the wealth of the society the possibility of institutionalized manipulation and fraud exists.
Understand that from an evolutionary biology perspective Bitcoin is a mutation which rises to the level of existential threat to central-bank-issued debt-based currency. Gold was put on the futures exchange when they finally realized they could do a better job controlling its price and the perception of the dollar’s strength better than refusing to allow a futures market for it at all.
Bitcoin is getting that same treatment.
Now, like the good little oligarchs that they are, they’re finally scared enough of Bitcoin and cryptocurrencies that they are going to cap their growth through good ol’ fashioned leverage and market manipulation.
Everything else has failed to stem the tide so now it’s time for this battle tactic to be employed. When CME announced plans for Bitcoin Futures, an article titled Bitcoin dips a toe into the mainstream was published and I do agree to that, it is a big news, legitimacy. But instead of physical delivery, cash-settled contracts and that's a bit unnerving. Possible emergence of a secondary market that might suppress the primary free market. Flow of cash getting diverted to the secondary market. Natural vs artificial scarcity. The Bitcoin market might finally get stable and less volatile which is good, but the stability might be achieved by means of artificial scarcity, suppression, and manipulation by centralized players. In terms of recognition, a CFTC approved Bitcoin futures is definitely positive, but the long-term effect might not turn out to be a positive one. The CFTC may or may not approve this proposal. If approved and a large capital flows into this market, in the long-term would it be good or bad for Bitcoin? Would the resulting stability and liquidity be good or bad? https://hackernoon.com/bitcoin-futures-the-bank-attack-on-the-crypto-market-29e1b38a5da |
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Not really surprising. The recent announcement by CME regarding Bitcoin futures is fuelling the price to an extent. Bitcoin Gold is getting dumped. We had seen a similar surge before the Bitcoin Gold fork, but yeah, since the November fork is going to have a much bigger impact than the last two forks, the demand has increased. I wouldn't not be surprised if Bitcoin hits $8K before the fork. But fork-driven demand isn't sustainable, at some point there will be a correction.
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Always appreciate your posts.
Just a thought, if a large merchant were to accept bitcoin and have a policy to immediately convert any bitcoin received to fiat - this would in theory create more selling volume?....however, who in their right mind would spend bitcoin instead of using fiat or credit to buy stuff at a merchant store?
It ended up being two thoughts but the second one negates the first, right?
Thank you. 1. Yeah, since Bitcoins are highly volatile it's not a reliable medium of exchange and because of that a good number of merchants who accept Bitcoin do instantly convert it to Fiat. Recently Overstock decided to keep 50% of all its Bitcoin payments as investments and the reason is quite simple, so far Bitcoin has proved to be a good store of value. So basically different perspectives, merchants who consider Bitcoin as too volatile and who consider it a long-term store of value. Bitcoin isn't going to attain stability overnight, but we will have more merchants who rather than converting to Fiat would retain Bitcoin and gradually more adoption would lead to price stability. 2. Store of value and medium of exchange. Right now there aren't many options available to spend Bitcoin. If you bought one Bitcoin @ $2000 and large scale merchant adoption happens when Bitcoin is around $10000. Wouldn't you be using it as a medium of exchange? Purchasing power, I would. Bitcoin was primarily created as a peer-to-peer payment system, but it is more of a speculative asset now. There is high reservation demand/store of value, but the existing transactional demand is too low and that also being speculative transactions. But if you look at recession-hit nations like Venezuela and Zimbabwe, Bitcoin is used as a primary medium of exchange. Bitcoin as an asset or currency, we don't know how it's going to evolve, but one thing is certain, the long-term potential, stability of Bitcoin depends on its usage as a censorship-resistant medium of exchange. http://bitcoinppi.com |
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Seems like we will be getting two coins for every one coin we own. Does that mean we double our money? sSounds to go to be true.
Yeah, if you have BTC balance at the time of the fork on Coinbase then your account will automatically be credited with an equal balance of B2X. Coinbase will support buys, sells, sends, and receives for both BTC and B2X. Services for both chains may be disabled several hours before and 24-48 hours after the fork. At the time of Bitcoin Cash fork, Coinbase didn't support it, but I guess now almost all Coinbase users would be keeping their funds on Coinbase to get quick access to B2X. If B2X has the same valuation as Bitcoin then you double your money, otherwise no. |
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Hey, someone know what is Bitcoin Futures Contract? and what will be the advantages of buying it?
Thanks!
It is agreement to buy Bitcoins at a future date at a certain price. If you think that Bitcoin will move up massively, then you can enter into futures. The advantage is of leverage. By giving a small amount of margin money, you can take higher exposure to Bitcoin prices. So I don't really buy the Bitcoin? the contract has Expiry time? No, you really don't buy Bitcoin. Yeah, contracts have expiration time. Futures contract is settled either via physical delivery or cash. The Bitcoin futures contract by CME will be cash-settled and based on the CME Bitcoin Reference Rate (BRR). The reference rate is a daily settlement price published at 4 p.m. London time, currently noon ET. Cash Settlement is a method of settling forward contracts or futures contracts by cash rather than by physical delivery of the underlying asset. The parties settle by paying/receiving the loss/gain related to the contract in cash when the contract expires. https://en.m.wikipedia.org/wiki/Futures_contractSo what are the advantages to buy this contracts rather than to buy Bitcoin? Thanks! Legitimacy, leverage, liquidity, three advantages. CFTC approved Bitcoin futures would give horde of professional traders the opportunity to bet against Bitcoin's volatility without really buying it in a highly legit/regulated environment. Cash-settled rather than physical delivery, it might create a secondary market with artificial scarcity. We don't know if CFTC is going to approve this. If approved, cash settlement means cutting the cost of hedging, would CMC trade Bitcoin futures without holding any actual Bitcoin? Don't know. If a secondary futures market emerges would it supress Bitcoin market, don't know. Would this be a crucial step towards a Bitcoin ETF, don't know. This might turn out to be good or bad. |
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Hey, someone know what is Bitcoin Futures Contract? and what will be the advantages of buying it?
Thanks!
It is agreement to buy Bitcoins at a future date at a certain price. If you think that Bitcoin will move up massively, then you can enter into futures. The advantage is of leverage. By giving a small amount of margin money, you can take higher exposure to Bitcoin prices. So I don't really buy the Bitcoin? the contract has Expiry time? No, you really don't buy Bitcoin. Yeah, contracts have expiration time. Futures contract is settled either via physical delivery or cash. The Bitcoin futures contract by CME will be cash-settled and based on the CME Bitcoin Reference Rate (BRR). The reference rate is a daily settlement price published at 4 p.m. London time, currently noon ET. Cash Settlement is a method of settling forward contracts or futures contracts by cash rather than by physical delivery of the underlying asset. The parties settle by paying/receiving the loss/gain related to the contract in cash when the contract expires. https://en.m.wikipedia.org/wiki/Futures_contract |
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Is there a difference between a government-backed fiat currency and a government-backed cryptocurrency? No. Then how is this going to kill Bitcoin, a decentralized, censorship-resistant, free market currency.
By launching their own cryptocurrencies governments would be able to establish a parallel payment system where both Fiat and digital tokens of Fiat would exist with the purpose of gradually phasing out cash and thus having more stringent control over the finances of their citizens. Compared to existing electronic payment systems, DLT based central bank-backed cryptocurrencies would be better as a payment system, but still it is tied to the existing monetary, political, and economical policies that are prone to inflation and manipulation.
The question really isn't about Bitcoin. It is more about how cash-based societies would accept a government backed cryptocurrency, knowingly giving control of all your finances to the government.
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I haven't heard about LoanBit before, 2% daily return on short-term business loans, gross return of up to 114% for 7 days, for a P2P lending platform they are offering a very high interest rate, more like HYIP. Since they are new and lack reputation, investing on well-established P2P lending platforms like BitBond is better. They have been in service since 2013, they lend to both individuals and small businesses, fixed income investments with returns of up to 20% pa, autoinvest, 0% fees, and you can start with as little as $5.
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World's largest options and futures exchange announcing plans for Bitcoin futures by the end of this year is indeed a big news, crucial step towards a Bitcoin ETF. Cash-settled contract based on BRR.
CFTC-regulated bitcoin derivatives will bring a great deal of liquidity, recognition, and legitimacy to the Bitcoin market.
Earlier another Chicago-based exchange operator, Cboe Global Markets Inc had announced plans to offer cash-settled bitcoin futures by early 2018.
If CFTC approves these derivatives then there is no doubt that Bitcoin will hit $10K by the beginning of next year.
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To be honest though, is this really newsworthy? I mean, changing from measuring the price of oil in USD to Gold isn’t really that big of a deal. Or am I missing something here?
It is more about Yuan and limiting risks associated with dollars. About 70 per cent of Chinese reserves of more than $2,000bn are believed to be held in dollars. There is a high probability that the US will inflate its way out of its $19 trillion debt. Chinese Yuan is the third reserve currency and China being world's top oil importer, $116,171,247 (2016), it does make sense to price oil in Yuan. Yuan-denominated, backed by gold, oil futures market would increase the demand for Yuan if major crude oil exporters like Saudi Arabia, Russia, and Iraq adopt petroyuan. Chinese Yuan is pegged to the dollar, Yuan pegged to oil, it might challenge dollar’s dominance in the petrochemical market. |
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