We went from $1200 to $1165, it's staying up nicely, so we must hope that we don't go below $1100 and I think we are reasonably ok and good to go for the next $1300 test.
I wouldn't really call that a big dump. It was a small dip. I wouldn't be surprised to see more of a drop to below $1000. The prices right now are still high so a correction is not unexpected. I would call that little dip the correction. It was small but quite a sharp drop after it clearly went too high. There's plenty of support from investors as they slowly start to see it as stable, there's the (shouldn't be relevant but it is) hype about Japan's new laws, so generally the outlook is quite positive but in a different light as investors start to see that there might never be a good consensus with scaling but Bitcoin will be a good investment from a more "digital gold" kind of perspective. The floor is really around $1050-1100 right now and it's unlikely to break that due to the strong resistance in the market. |
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I totally agree with this. Here are the key reasons that people in developing countries would invest in Bitcoin:
-Bitcoin would naturally be stable. In current conditions it's unstable, but with enough increasing backing from investors it will become more stable.
-Gold is easy to steal. If you're in an area with a lot of desperate people you're not safe holding something as valuable as gold, and gold is also malleable - it could get destroyed in unsafe conditions, especially if you can only hold a tiny bit of it since you're quite poor anyway. Bitcoin allows better control over funds.
-Increasing access to the Internet. Even some poorer people will have some kind of Internet access, and if you have a device you can store Bitcoin. You could even store it online and it would be moderately secure because you wouldn't have to access it too often.
Unfortunately, some people are even poorer than this and wouldn't have any significant money to put into Bitcoin anyway. Not to mention that Bitcoin might be hard to buy with unstable currencies on exchanges.
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I would question how well it actually works in the gambling section of the forum, since that's basically just a cesspool of sig spamming. Still I do think that a lot of the people in those campaigns actually do take part in gambling on the casinos advertised on the forum.
I suppose they must get a lot of exposure, people posting loads each day and every post can be viewed by hundreds of people in some cases due to the nature of a forum. A lot of the people reading aren't very disciplined and might throw loads of money into a gambling site in a heartbeat for all we know.
If they do the ads, it must work. These campaigns pay a lot and they've been running for a long time, with several of them.
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If you think investing in bitcoin or a similar “crypto-currency” may be a good method for hiding income from the tax man, you’d better think again. http://nypost.com/2017/04/08/no-you-cant-avoid-taxes-by-investing-in-bitcoin/I am smelling something good here with the news. If the government declared about how peoples can't avoid the taxes by investing in bitcoin, it means directly or indirectly government said that they recognize the existence of bitcoin and how it can be profitable to invest. That's a good point. Another thing that makes me think that the US government recognizes Bitcoin as legitimate is that after the government seized the Silk Road Bitcoins, they auctioned them off to the public. They can't really auction something off and then declare it to be illegal. Silk Road coins are different though, since they were used in illegal practices. Equally, using a dollar to buy a knife and stab someone is going to be viewed as illegal by the US, but the money would still be in circulation. It's not so easy to track Bitcoin transactions, though. For the US government it would be a classic kind of police work, they'd have to shove a lot of clues together to figure it out for every major transaction and it really wouldn't be worth it. |
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yeah i concur, the bitcoin network is as secured as it get, no place for casual mining all is in big farm now
The only reason big farms are profitable because they have profitable conditions. You could equally have a small amount of miners, or just one, in good conditions and it would still be profitable. For example, you live in a place with low electricity costs, you buy an Antminer or Avalon miner and put it in your basement/garage, then boom you're mining and it's profitable. Often it'll still be more profitable than most investments which we forget tend to actually only get ~10-20% per year for people, and this is riskier but it's not so risky that it makes it unreasonable. Cooling systems etc don't necessarily need to be very good or even in place at all unless you're already doing a big operation. it's peanuts you are making with just one, you will never roi, having more than one guarantee roi on at least part of the other miners and also having a very large farm guarantee that you can add more easily new miners, without compromising your roi time too much this si a huge difference between a person casually mining bitcoin with a single asic and a chinese mega farm I'd say the only thing is that it stabilises the income because you have several and they're not all going to fail at once, but if you have just one it'll be working for over a year in most circumstances and you will ROI a large amount relative to the amount you invested. You don't need to ROI a large amount if you only put in a small amount, and if you have profitable conditions you should ROI unless your miner breaks. In all investments having more money means that you can do better, but in this case the profit is pretty much proportionate to how much money you put in, as long as you have a decent place to put the machines. |
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Actually, to phrase it better: "200 lines = everyone can be their own bank now". Important distinction since the blockchain allows everyone to have real control over their digital money.
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The market has decided. Whether or not you have.
Core, BU, Classic, XT.. blah blah blah.
You can't fight the market. Or you'll lose.
And right now.. we're ALL losing.
The market has left Bitcoin at about $1225, which is the highest since the ETF hype, despite BU being back on about 35% (unfortunately). The post just doesn't make any sense, BU isn't actually doing too bad and yet the price is pretty damn high and none of us are losing. I would say that it's because the market expects nothing to happen, so whales are just putting money into Bitcoin expecting it to become more of a store of value. SegWit would be good for the market in the long term because of a healthy increase in transaction volume (and the LN could make Bitcoin a lot more popular in the future) but it's not really affecting the price now. |
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I'm not sure if what I'm doing is trading?
I've started buying small amounts of bitcoin through Coinbase and I"m just doing something simple like when my balance is more than what I purchased (bitcoin has gone up) I subtract what I'm over and send it over to a wallet.
I don't know if that makes sense regarding depreciation/value...
But that money I Just "made" what is that considered as for taxes? I don't know part of it too it's like "bitcoin can be not traceable" haha but I'm buying bitcoin through coinbase I have a trail and have no reason to use it anonymously so, I'm wondering how to deal with taxes. I doubt I'll make much either but I'm going to put some time in on writing scripts to grab data from random sites and maybe that will help me with figuring out when to pull out money/buy more.
So... what about taxes?
Thanks for any help.
That money shouldn't be taxable because you're not paying for anything with it, just transferring it between two wallets of your own. Say I was living in America and I took my piece of gold to a second house in Spain. Does that mean I'll get taxed for it? No, because I just moved it, I didn't spend it. Whether the government has that logic I don't know, but despite Coinbase being pretty bad if you don't like taxes, I really don't think the government cares in this case. You could always put your Bitcoin through a mixer to send to the new address and try to cover your tracks so that taxes won't be applicable in the future. |
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Bitcoin is Big Brother's dream come true. All transactions are on a public blockchain. Once they realized this, they loved it.
A pseudonymous blockchain, though. If you know what you're doing and you put some work into anonymising yourself, it's possible to stop yourself being tracked with Bitcoin (not with absolute certainty, but close). That's something that people can never achieve with fiat. They're shooting themselves in the foot if they want to know which people send which transactions. The transactions they'll find out about will be people doing legal things, and therefore not trying to cover their tracks very well. People doing anything seriously illegal will cover their tracks pretty well if they're handling Bitcoin transactions, and that'll be a lot of work for the state to try and find out. I don't think they'll manage it. |
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Thanks for all the feedback thus far because without it I would of signed up and gone in blind just lending out my bitcoin to potential scammers.
But my one major questions was the need to know SEPA and if it's the only way they are doing the transfers for withdrawals.
And is I.D a requirement to register a lending account with them even if at a low amount of below $250-$500 per month.?
Well appreciated if I could get an answer to this very important aspect in knowing before dealing with btc to fiat conversion.
Thank you.
I don't think you need it as I registered with them as a test a while ago. They might ask some personal information like full name but they won't verify it, wink wink. You'd be much better off doing loans through margin trading on exchanges like Poloniex instead though. If you're good at it you could get some decent rates, but it might take up more of your time. Still, since the rates are all in your preferred coin the gains would all be in whatever growing crypto you like (probably Bitcoin). Loans are never really that profitable compared to, say, casino bankrolls, and in both cases you have to leave your Bitcoin with a third party that isn't always trustworthy even if it's legit. I hope you know what you're doing. |
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You need to be a trusted buyer more than anyone else needs to be a trusted seller. PayPal is terrible for Bitcoin transactions since it's reversible, so your only chance of getting a deal is to talk to people offering these services, like COINMAN1. But if you do that, you'll have to accept really high fees.
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Choose a better exchange.
YoBit is notoriously unreliable and terrible at handling all of these things, especially when they list coins like E-Dinar coin and have to deal with what happens when these giant Ponzis fall on everyone's head.
I don't know where you can get good ICO advice but YoBit isn't ever going to be the place. At least on Bitcointalk alone you can find the newest ones anyway.
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It's sort of realistic, but you definitely shouldn't act based on the belief that it's likely to happen. Most of this speculation comes from people who are already excessively optimistic about Bitcoin and they'll look for the most positive things to write about. If you buy in, it shouldn't just be because you think it'll rise. If everyone did that, Bitcoin would be crap. People do spend, trade and use it even though the price is so volatile, and that's pretty respectable. I doubt the first Snapchat investor was some super genius, but if he was he would have noticed that it was a crazily risky investment. Bitcoin is the same, so don't invest more than you can afford to lose and balance your savings with some other assets like gold. |
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Exchanges and wallets are good enough for me. I don't need any unnecessary third parties keeping track of my earnings when I can see it well enough myself.
So basically, Poloniex is probably my best tool for both, or maybe Poloniex and my wallet combined. When I need stats on Bitcoin overall, Blockchain is pretty good at those. If I need to find out about my own holdings, it's mostly obvious things that I can see myself anyway.
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I would have also like to check the website especially their price rates and mode of deposit after registrations if arbitrage would be possible but it seems they limit access to their website from some countries which is not really necessary due to the heavy security and document they requested before you can transact with them.  I accessed their site when I was in Japan a while ago. They don't really ask for much, if you just give them your email address and facebook or phone verification they let you use up to 250,000 yen per month.* It is preventing you from staying anonymous when using them, but nearly all Bitcoin exchanges have at least some form of verification and the new Japanese laws are actually starting to suggest verification for exchanges and "know-your-customer laws", Coindesk claims. *2,247 USD, as of this post. |
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No. There may be a few stores who accept it if you search all over the place, but in practice you just can't. This is a three-day experiment - what if she had to pay for fuel in her car, or public transport, or even just use pretty much any service, most of which don't accept Bitcoin.
The Japan Bitcoin laws need time to mature and settle with merchants. The "thousands merchants" that you mentioned don't even accept it yet as far as I'm aware, and even then it won't actually be a lot in the overall scheme of things.
Experiments like this have been done before, with people doing experiments of living on Bitcoin for a week, but that's very hard and if you live outside of a major city you're not even going to be able to eat, let alone live your everyday lives.
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Hey guys!  Recently I bought some SIB on BTC-Alpha. I should say that their support is rather operative and friendly. They said that this exchange was registered in UK as a legal entity. That's really awesome. Don't u think it can be the good reason for trust them?  Everyone knows that making a legal company in the UK takes no effort at all, you just have to register with some very basic details and pay a fee of £12 and you're registered, that's why all the Ponzi schemes are registered in the UK. You can even getting a companieshouse certificate certifying you as a company in the UK, doesn't make you legit. This is so pathetic, creating several newbie accounts to post bullshit supporting the service. You didn't even bother to make any other posts with them before you put them on as shills for you. Sorry to tell you, but if you register too many accounts, you'll start getting units of evil and you'll have to pay to post with each one until you can't spam that crap anymore. Terrible ICO scam. You could have at least put some effort in. |
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Is it absolutely necessary that you need to use bitcoins? Have you considered using an altcoin network to achieve your goal? At the current time, the transaction fees on the BTC network are at the highest they have been. bitcoinfees.21.co is suggesting that the "best" fee at the moment is 200 satoshis/byte. This leads to a fee of 45,200 satoshis for the median transaction size of 226 bytes. If you send 1000 transactions at that cost, you're going to be paying something like 0.4 btc just in fees! If you are only sending small dust payments, your fees may far outweigh the amounts you are actually sending!  Compare that with say, the DOGE network... You can send transactions with a 1 DOGE fee (currently worth ~30 satoshis)... although larger transactions will incur multiple doge fees, the difference in cost between DOGE and BTC is massive. 1000 transactions would only be 30,000 satoshis worth in fees... Granted, if you did this, your end users would then have "altcoin" instead of BTC... but there are plenty of coin exchanges and services like shapeshift that will enable them to convert back to BTC if they want. You don't need to do this, batch payments are quite a different concept in which you send many to many different addresses at once in one transaction, thus dramatically reducing your fees for the transaction. On Electrum, for example, you can do "send to many" which is quite convenient for the user. You forget that while you say it's easy for them to convert it to Bitcoin, when you're talking about dust payments the effort of converting their altcoin to Bitcoin, especially the first time, would massively outweigh the actual value of the payment, so it would be pointless. Unfortunately there's no way for OP to reduce his fees to an extent at which they would be insignificant, but hopefully the LN might help with that in the future if it's ever implemented. That might take a long time though. |
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yeah i concur, the bitcoin network is as secured as it get, no place for casual mining all is in big farm now
The only reason big farms are profitable because they have profitable conditions. You could equally have a small amount of miners, or just one, in good conditions and it would still be profitable. For example, you live in a place with low electricity costs, you buy an Antminer or Avalon miner and put it in your basement/garage, then boom you're mining and it's profitable. Often it'll still be more profitable than most investments which we forget tend to actually only get ~10-20% per year for people, and this is riskier but it's not so risky that it makes it unreasonable. Cooling systems etc don't necessarily need to be very good or even in place at all unless you're already doing a big operation. |
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We always ask why Bitcoin price goes down or up?
But most important thing that we don't understand is that we control Bitcoin price.
You're right, the Bitcoin price is decided by the market. So therefore we analyse the market and what other people are going to do because not everyone acts unanimously and buys Bitcoin at stupidly high prices because we tell them to. The market acts primarily in its own interest. You control Bitcoin price!
No Banks, No goverments...
In the spirit of the free market, this isn't true. If banks or governments wanted to, they could easily control the Bitcoin price. All they'd have to do is buy loads and dump it at super low prices - they have more than enough money to do it. It's only about how much money you have and in reality it's not a community decision - if you build a collection of 20 people who own 0.2 Bitcoin and don't understand any basic economics, they won't have any significant impact on the market at all if you tell them to buy or sell. If we all would decide to not sell Bitcoin in exchanges for less than a million Bitcoin would worth 1 million.
My message is that if you want Bitcoin price to become one million don't sell it cheap at exchanges it worths much more...
Hang on, didn't you just say that we control the Bitcoin price? So doesn't that mean that it's "worth" exactly as much as it's worth right now, since we control it? |
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