They probably already trade bitcoin, it's just that they haven't made this public yet. Once they have made this public and official however, i think that we can expect a price hike. Goldman Sachs has lots of influence over the world's banking system and for them to show interest in bitcoin is a huge step for btc. Anyhow, volume for bitcoin trading is still consistently above $1 billion per day. |
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Eager to know, would be appreciated if someone share his idea.
thanks!
How exactly i'm not sure. They seem to sometimes not care about people using gambling sites through depositing with their service and sometimes freezing accounts on a daily basis. But i would assume that they are either hiring someone else to do it for them, or just analyzing the activity of your account. Through what addresses you send btc to they can see whether you are making a deposit to a gambling site or not. Walletexplorer.com has a list of addresses that are owned by a particular company, they may be using that. |
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Oh, I didn't know about this. So what should I do now? Should I shift the coins from coinbase to some other wallet? Can I shift it to electrum. I have already installed the electrum wallet in my desktop. But I don't use it. Since coinbase is very easy to use, I usually keep all my coins in that. Is it safe to shift the coins to electrum or should I use some other wallet? Whether segwitx2 will affect electrum too?
With electrum, you hold your own private keys which mean that whatever happens during the fork you are guaranteed to get the most flexibility and freedom with your own coins. With coinbase you are depending on them to make the decision for you. So yeah, even though coinbase is a big company, it is probably better to take yoru money and store it in a wallet that you actually hold the private keys of in a fork. Plus, electrum i'd argue is even more convenient than coinbase... You can adjust transaction fees, use multisig, etc. whilst coinbase cannot. |
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Wallet inactive or wallet on maintenance as always been an issue of concern to majority of investors trading at yobit for months without any update as regard their money.
However, as it stand, do you think the investors have any hope of getting back their money as dev are calling their coins on yobit fake or they should look elsewhere for their trading activities and believe God will replenish their loss?
I think that most probably, yobit will be able to refund users. After all they are quite an established business and i would at least assume that they would change their heart sooner or later since they don't want their reputation to be tainted. But this process may take a long while. Right now if you've got coins stuck on yobit, all you can do is wait. Move onto another exchange. |
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Now that bitcoin is going up again, this could only mean that China, ( no matter how big you are ) could not bring bitcoin down! Who will agree with me?  Even though China is a pretty big part of bitcoin, it is big enough to be bitcoin ITSELF. As bitcoin is decentralized, even if a country completely bans bitcoin it has absolutely no effect on the rest of the users. Plus, china hasn't actually banned bitcoin. It has banned ICOs and exchanges, that's it. This is why i think people are still buying into bitcoin even though China has done what it has done. They realize now the beauty of bitcoin - the decentralization. So yeah, i absolutely agree with you. China nor any other country can bring down bitcoin. Nobody can. |
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Tomorrow Catalonia will try to vote for independence, and Spain will try to stop them (looks like they might get violent).
IF the Catalans vote to leave and declare independence, then all hell will break loose, and we might see a flight to safety towards bitcoin. It depends entirely on how ugly it gets.
This could be possible... But i don't think that political instability alone is enough to make people flood in bitcoin. However as i've said, when financial situations get real bad, so bad that people cannot transact on a daily basis for their basic needs since their national currency is in a hyperinflationary mess, they will look for an alternative. An alternative that is a store of value. So it's really only either bitcoin or preciosu metals. Bitcoin is gaining popularity as a safe haven like this. |
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I wonder if all their users were able to withdraw everything without problems?
A few weeks back there was a rumour that they were operating a fractional reserve and wouldn't be able to pay everyone. Any Chinese users here who can confirm whether everyone got their money out?
So far i don't think that anyone has issues getting their money out. At least the Chinese bitcoiners that i know all got their balances out and there hasn't been anyone going round complaining on the forum either. This news has hit bitcoin much less than i would have thought it would. Price has barely dropped when the news first came out, and now around 3 days later, price is skyrocketing. I think it'll continue to rise in the next few days. |
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When I first got into bitcoin coinbase was the one wallet I found that seemed trusted and reliable. Everything is working out great until about eight months ago I got contacted by them saying they no longer allow US customers and that i needed to withdraw my btc. I did so. My issue is, i have a local friend who has a coinbase account and he has never heard of this or been contacted by coinbase. Was wondering if any americans had the same experience?
In my opinion you probably received a fake email. Perhaps a phishing link trying to get you to log into your coinbase in order to gain your login details. Check your email inbox again - if it's a phishing email and you clicked on it, change your password rightn ow. US is still an accepted country as per coinbase terms and conditions. Are you sure you didn't misread the email either? I mean Coinbase is a US company, if it bans US customers then it would shut down itself. |
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I think they will nationalize all the mining operations and make them all the govt's
Very unlikely. They are anti-bitcoin so doing something like this would essentially mean that they are endorsing bitcoin, which is something that they do not want to do. They are much more likely to ban mining than to do this. We've hit $5000 before, and China didn't do anything. So even if they have a trigger price where they just start banning everything bitcoin related, it's evidently not $5000. I think they'll stay put and do nothing, honestly. They've already shut down ICOs which is a huge deal in China, as well as BTCChina and ViaBTC exchange, which again, a huge deal. |
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Here are some that I can think of on the top of my head: - It's volatility in price. Hence holding your funds entirely on bitcoin is a huge risk despite the advantages.
- Very unsafe for careless and technologically-illiterate people. Logging in to a phishing link? Say goodbye to your exchange's funds. Forgot to list down your wallet's seed? Say goodbye to you wallet's funds.
- Unable to operate offline or non-electronically. This is a downside on more on the 3rd world countries, whereas most poor people can't even afford smartphones or any device that can hold bitcoin.
- Not-so-good transaction fees and time. Transaction fees and times are definitely alot better now compared to months ago, but I still remember the days when txs were almost instant, with very very low fees.
- My personal opinion: The name "bitcoin". I personally think it sounds like something a person involved in pyramid schemes and Ponzi scams would use.
This here pretty much are all my personal concerns as well, apart from the last point. I think that bitcoin is a perfectly fine name and i don't know why you would associate that with some sort of pyramid scheme at all. But, volatility and bitcoin being very technical are problems that will be solved as it moves along into the future. More applications such as exodus will simplify the user experience of bitcoin, and as more merchanst accept bitcoin its value will stabilize naturally. |
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I see the exact opposite.
Altcoin ICOs guarantees that basically an elite select few are able to gain most of the coins in circulation. Bitcoin, even though it was cheap at the beginning had no ICOs whatsoever. Sure, it had early adopters, but only a few has held onto their coins and only the smart investors who have bought or held early still hold a lot of coins right now.
Plus, altcoins are in a bubble right now. Bitcoin dominance is less than 50%, which is truly an anomaly. I think BTC will go up or stabilize next year, whilst altcoins crash.
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China actually didn't ban bitcoin so i'm not sure what they are referring to here. It is likely that they got bitcoin and bitcoin exchanges mixed up since China has only recently banned ICOs and forced bitcoin exchanges into closure, but not bitcoin itself. This is proven by the amount of sell and buy ads on loclabticoins that are still active. Anyways, this could well be temporary. They could in future find a way to effectively regulate bitcoin exchanges or ICOs and allow them to exist once again. However this definitely depends on the government and what they are planning on doing. We can only pray for the best. |
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First it will not Happen, Keep in mind that china is a big country and one innovating class country, what do you think happen in their economic status if they shut down there connection to the other world, what will happen to their country after that. They will lose their path/way to improve and develop more. When it regard to Bitcoin i believe they can easily erase it to many people even using their so called censorship works. Many of them know the potential of bitcoin in their country and to their improvement shutting it down totally can lead them to lost.
Read what I said above what you posted. You are one of those I obviously was speaking to directly when I said that people like you have no idea how easy China can censor any/all info on any topic they choose without affecting any other businesses. They do it already. They ban Google. They ban Facebook. The only people that know that these sites exist are those that have left the country or know someone who has done so. You people think China stands to lose by banning BTC. WRONG. They stand to gain billions in capital that is otherwise going abroad as I type this. DAILY. Banning bitcoin would definitely mean for the Chinese government a good thing. However, if doing so requires shutting down all internet connection essentially for every single citizen, then the whole thing is unfeasible. Plus, banning google's servers using the great firewall is way easier than banning an entire distributed network with thousands of nodes operating worldwide. How that is even possible, i don't know. They could officially state that bitcoin ownership and use is outlawed, but that wouldn't be enforceable. |
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Well according to the interviewed guy in the article, he says that China isn't hostile to bitcoin. This in my opinion is completely false since they could have easily only targeted the exchanges that have actually not been following KYC procedure instead of shutting down BTCChina which is very strict on its KYC.
But anyways, treating bitcoin as virtual property is good news. But this again should have happened ages ago and bitcoin IS virtual property. I don't regard this news as important, but nonetheless price should be going steadily up to at least $5000 by the end of the month.
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It is the other way around "China needs bitcoin" or I say "Bitcoin is better without China".. Bitcoin doesn't need any support from government to survive,, it is developed to be decentralized and out of any government contol and policy.. If they want to regulate bitcoin in the first place they should have announced it and not downplay for being rumors.. They've planned for bitcoin price down but those days won't last.. Bitcoin recovers.. Again..
It's really not that simple, since having exchanges around is always a good thing as more people are able to access bitcoin easily. With a bitcoin-friendly government it is probably a lot easier to spread the idea of bitcoin than with a bitcoin hostile government. This goes without saying ofc. However as you said, bitcoin can indeed survive without China. People will still trade in China, and still buy bitcoins. Tehy'll just do it another way. It's not like China is gone forever. |
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I see bitcoin now is in regaining strength
Coming back for than $4500
What do you think?
Comment your waves address also
For possible coins
Right now, looks very very plausible. Price is just sitting at around $4300 right now. I would expect a few days of calm market activity of just sideways movement, potentially a little pullback before a nice pump takes bitcoin over $4500 or could be even more. Once over $4500, that price level will be the new floor. |
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Would obviously hate to be scammed. What options do I have?
If the guy clearly indicated that he wanted you to instant transfer instead of standard transfer, whatever that is, then you should have done that. To transfer it with a standard transfer could mean that he loses liquidity for the time the money is held in escrow and not be able to trade with the money that he would ahve otherwise been able to make further trade with. Ask him to either refund or wait till the funds hits his account. If he doesn't want to then you have to start disputing. |
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I am cocksure that one of the things that led Satoshi into establishing bitcoin was the global financial meltdown in 2008. It really was so chaotic that firms, companies and institutions shut down because they couldn't meet up. In 2009, bitcoin came up as an alternative to the traditional financial institution. With the Cyprus scenario a few years later, the strength of the bitcoin was tested and that proved its effectiveness. Bitcoin is above traditional financial institution and that's what scares China. The Chinese feel it's going to permanently floor their Yuan. Hence, the dramatic ban on it. Yes, that should be a boom for bitcoin.
Precisely. Bitcoin naturally is a store of value as it has a controlled and slow inflation curve that cannot be altered or sped up by any central entity. This is what makes bitcoin a special investment, it is basically "digital gold". When financial collapses happen, people look for a store of value. In this digital day and age i think that most people will turn to bitcoin. And this is proven, as Zimbabweans as well as Venezuelans have enjoyed bitcoin and there is a huge increase in btc users in those countries. |
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What are people's feelings on using LocalBitcoins.com to buy and sell in person? I would love to heard feedback from people who have used it. If there is another thread, please point me to that. I tried doing a search, but all the hits were from 2012  There were a lot of articles being written about the perils of trading in person with someone on localbitcoins. Personally i have traded with a few people in person, never had any issues. The thing is, if you are buying locally make sure you meet up in a place that is public and has lots of surveillance cameras. Cafes and banks are probably the better options. If you are buying bitcoin with bank transfer or cash deposit, then absolutely go for it. There are very little risks, probably less than buying on an exchange even since your funds are held safely via escrow at all times. |
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Let's say I'm in country A and I wish to move some funds to some person in country B. I understand the flow is through the pocket and obstruct series. But how does the physiological movement of funds takes place??
Also, like in the example of cross-border payments you can find banks involved, so in the example of block overly can there be some involvement of banks too ??
Lastly, how will be the exchange-rate decided and charge chose centered on what parameters ??
Bitcoin is universal. It is not a payment processor, as bitcoin is a unit of value in itself. I think this may be where you are confused(i may be wrong, but your question isn't very clear). No matter where you send bitcoin, it stays in the value of bitcoin. It does not change into a fiat currency and go through banks like traditional international transfers do. This is one of the most attractive points of bitcoin, as there is virtually no difference between paying someone overseas and paying someone right next to you. |
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