what do you think about this topic?
my thought is your topic is too vague and despite others saying the same thing you seem to have missed it so far by not clarifying two things: rich and instant. for some getting rich is having 1 billion dollar for some a lot less. and also an instant means a second  |
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go to those exchange websites directly and open the market which you like to see its volume (like BTC_USD) and change the charts to daily and move your mouse on top of the candles. they usually show the volume on top. this is 24 hour volume and each candle represent 1 day. if you want a more accurate and faster way use their API, it may require some programming knowledge but also you can simply open the link in a browser too. |
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the article neglects to mention the big amount of premined coins that ethereum has. and also the fact that if you remove those coins which have never been on the market then the market cap of ethereum is small and just like any other shitcoin.
it also fails to mention all the issues, the serious issues, this platform has. specially failure to mention DAO and all the 5 or so hard forks that it had.
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apparently you have not understood the basics of the world in your past 40 years!
it is pretty simple, when you want to deal with fiat, banks, and anything related to those you have to follow all the rules and regulations of those too.
this means AML/KYC, this means long waits for manual verification, this means selfie with your passport. if you don't like it then take it up with your government and banks and related authorities and ask them why they ask you to jump through all these hoops to use your own money (fiat/cash/dinar or what your local currency is).
this has nothing to do with bitcoin.
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Please quote and thank you. -----BEGIN BITCOIN SIGNED MESSAGE-----
If there was trouble abrewing for my bitcointalk account I will use this key to sign a message. Today is 2017-7-1
-----BEGIN SIGNATURE-----
Address: 1CKy5jf87uXiRpAMJDGUQsuw1FW42K1yaZ
H+Rz5zKR7Il22eafFdYto7qtOqFVCmF6VHN0uaVwFJJgG+Hdn1CPygIOYA/M9fIghocI47zdGMTJs/BFeOVU5uM=
-----END BITCOIN SIGNED MESSAGE-----
by the way, is this format specific to any client or is it like the suggested format to make everything look similar? |
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well if i was under a lot of stress because of evading lots of lawsuits and all my plans on controlling bitcoin and ruining it to his own benefit was down the toilet, i would have been under a lot of stress like CW and would have done an outburst like that!
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the correct answer is: under normal circumstances NO, it won't happen.
the normal circumstances means if there were no major scams, hacks, or other crap done by these exchanges.
it also means if there were no new massive scale drama about scaling like the BU fork that we saw earlier this year.
and even if the above happen, still breaking the $2000 is going to be a very hard task. remember that these round numbers are always going to be a very strong psychological barriers.
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Hello,
In old days I see there is one address for which we used always now wallets refresh the bitcoin address. How this thing works? I mean how the balance is collected at one wallet of different addresses?
This is to keep you anonymous, the addresses are all linked. Makes it a little bit easier to separate your transactions, and you can give someone an address that isn't your primary, so they can't peek inside  The balance will all end up in the same wallet and you can reuse the old addresses on clients, BUT BE CAREFUL if you do this on an exchange. Very well said, even you do have lots of different address but all are linked on the same address which is your primary and as being said all bitcoins that have been transferred on those sub-addresses will always credit on the main address. This is what I like when you tend to hide your main address on public and they cant really peek you out. I don't have much knowledge what would be the risk on using it on exchanges though. There are some wallet providers that offers this called HD wallets. You can try searching: HD wallet vs Classic wallet. It is not for security as they say but rather for a better privacy that is others could not be able to peek your total balance. I'll elaborate HD wallets a bit. In HD wallet, every time you spend or receive bitcoins it generates new addesses. These new addresses are derived from your master private key and all these addresses are linked there. You can back it up by 12 words so you can just restore it in case your device is lost or anything but some do it with more than just 12. An example of HD wallet is Mycelium and also you can generate a single wallet account if you want and also you can import bitcoin addresses or private keys. this is incorrect. using a new address for each new transaction has nothing to do with HD. the wallet can be non-HD and still generate a new address for each usage. and similarly you can still use an HD wallet and reuse the same address over and over. HD wallets is what you explained (copied from mycelium?) at the end. it simple means deriving the keys from a master key which some wallets show as seed (each of these HD wallets use different method of deriving from the master private key). and also using a new address each time also has a couple of security reasons in addition to privacy reasons. read the wiki link that was posted above for all the reasons. |
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.. If we dont have an internet access we cannot withdraw bitcoin.
that is no reason! most places in the world already have some sort of internet access, even in the third world countries, the internet access is growing. there are actually some third world countries with more people online than any other country! in other words you need to look at the majority and how their internet access is not the minority in the depth of Africa. |
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Haven't used any of the trading bots. It's good to participate manually, because price variation happens periodically and only a human mind which is focused on the specific subject makes the right prediction and the trading in a better way than the trading bots which are developed by the same human minds.
there are certain actions that you can not do manually and need a bot. one of them is what OP is asking for and that is Arbitrage trading. there is simply no practical way of doing that without a bot with high speed calculations and high speed internet to execute orders. what you say is true about traditional way of trading which is buy low, sell high. that can always be done manually and without a worry in the world! |
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@BrewMaster Buying little by little is indeed a great advice. I will totally do that. Thank you
you are welcome. and today you can clearly see why i said that. by the time i wrote that comment the price was coincidentally at the absolute bottom ($2291 @bitstamp)  |
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bitcoin is just money, and like any other moneyz it can not do magical things on its ow. people can use it as a tool to make more moneyz an make themselves richer by increasing their net worth but to expect bitcoin to end world's poverty is just absurd in my opinion!
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This days anything above 20-30% in less than 24 hours would be a "shitable" event. ...
That's only two in the 20-30% threshold... And those were somewhat shittable yep. Didn't remember them to be higher than 20% though.
The last one that that really scared me was last year when the Bitfinex hack hapened. Kraken reacted VERY sharply AND I was using margin.
Do you have a list of those dips or do you remember it all that accurately?
these are the biggest dips in the history of last year in 24 hours and yeah only 2 fall in the higher 20% range. in more than 1 day the dips were sometimes bigger. the bitfinex hack happened on 2016-8-2 and it was a 24% drop in one day. |
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Is it possible to make daily trades and profit from these crazy drops? Or does the market has some sort of protection against this?
Thanks
yes it is possible as long as you can predict the market movement. if you predict a rise you can buy and sell on top and if you predict a drop you sell and buy at the bottom, rinse and repeat. there is also shorting which you can do on certain exchanges that allow you and make profit on drops and lose a lot if you guessed wrong and price didn't drop! https://www.reddit.com/r/Bitcoin/comments/5m0suc/someone_just_lost_10million_trying_to_short/ |
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But I thought $5,000 was a sure thing? Where are all the $20,000 BTC advocates?
If you are going to shit your pants any time Bitcoin experiences a 5-10% swing, maybe cryptocurrencies are not for you. Yep. shitting your pants should require at least a 40% threshold, and possibly even more. This days anything above 20-30% in less than 24 hours would be a "shitable" event. More so after all this years of stability and profits that probably have converted us into pussies. hmm! maybe you need to check some charts. the 20-30% dips are not new at all. here are some examples: -16% dip 2017-6-12 -19% dip 2017-5-25 -13% dip 2017-5-11 -27% dip 2017-3-10 -22% dip 2017-1-5 ... -9% dip yesterday! and these are just 1 day dips . bitcoin has always been volatile like this, with stable times in between. |
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apart from all the TA that you can use, you can also know that at first the dips are based on correction, like what we saw this month. price went up too high and it needed a correction so about a 30% drop happened. you usually can look at these percentages and have a good idea where they would stop. for example compare it with other times. then any further drop depends on bad news. right now there are none. but we can never predict the future, we may see bitfinex get hacked again also if you want to do a long term investment then buy in the dips. for instance you should have bought yesterday when price went down to $2300 ish. and don't go all in. for example if you want to invest $1000 then you could have bought half or $300 bitcoin yesterday and waited to see what happens then bought another half or $300 and another $400 later. (2x $500 or 3x $300+300+400) in short you should never expect to find the absolute bottom to go all in, you invest little by little to both not lose any opportunity and not lose much money in case it dropped more. |
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So I'm back. You might not recognize this account , but that is because i made only a few posts around 2011. I was there at basically the beginning. I could be rich right now.. That's an odd thought! I was there, but i didn't put the time or effort in. Now im back, Bitcoin is higher than i ever thought it'd be, and i'm trading on exchanges. Live and learn. I feel dumb for not staying in, but smart for getting back in. What were you doing Bitcoin wise in 2011? Did you even know about Bitcoin?
Jeez welcome to the club, I read about Bitcoin in 2010 and then forgot about it. My job was consuming too much of my attention. If I had only spent more attention on Bitcoin back then instead of working...in fact I could been skipping school, not getting any education or professional training, not doing any work all my life, that one article I read in 2010 could still have made me more money than everything else I ever did.....  same here but my problem was school and my dissertation! it took too much of my time and meanwhile everyone else was mining bitcoin with their PC and making a lot of money during the $1000+ rise of 2013 i have no regrets though because i do believe it is not yet late to get involved in bitcoin, and i joined a year+ ago anyways. |
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No. I'd wait. Bitcoin price and Ethereum price is going to continue to fall for a while. Bitcoin's trend should be on a gentler slope, but Ethereum is bound to hit all-time lows. Literally, every website is having issues with transaction Ethereum and its system is in a complete mess. I hope this is not going to be the same when Bitcoin hits its hard-fork on August 1. Hopefully, Bitcoin reverses its trend and skyrockets after the fork.
Bitcoin is going to skyrocket after the fork, while Ethereum is going to vanish from the scene. What happened to Litecoin in 2015/16 will happen to Ethereum now. The ETH exchange rates were artificially inflated by removing a large part of the coins from free-float. With the prices crashing now, the ETH developers will start dumping their coins, which is going to accelerate the decline. that may be, but the main reason is because of the ICOs and the fact that people were forced to use ether to buy them and nothing else so they kept buying ether to invest in these ICOs and price went up. but these tokens didn't vanish they are all in the pockets of ICO devs and these devs will want to cash it out soon and when they do the price crashes. |
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Two words: Scaling Solution - the level and magnitude do this event can be compared to the halving.
Just take a look what simple SegWit activation done to Litecoin, wich has been considered to be a stagnant and slowly dying coin.
The price of Litecoin raised from $4 to $45 over 3 months! Imagine what upgrading Bitcoin will do to its price!
yeah but you can't really compare bitcoin and litecoin. when litecoin activated segwit it just activated segwit (end)! despite all the other things that they are doing and the new developments in LTC but it is still the same LTC but when bitcoin activates segwit it is just the beginning. it first ends the very long scaling debate. then relives a lot of the pressure on the backlog not just because it is scaling solution but because the spam attackers will stop. and also it simply means we will move forward. right now it is an endless loop of discussions to no end without letting bitcoin grow in adoption. |
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I apologize if this question is in any way naive.. I'm not really any kind of economics expert. I was just wondering what might happen to the world economy since there are so many new people getting rich off these cryptocurrencies... Just based off speculation or holding the right coins a lot of people have gained in wealth in the past years. And it doesn't seem to be slowing down.
So, you have a lot of 'new money' propagating even 'newer money'... and so on and so on, until a lot of people are pretty rich. Does this mean that there is a huge depression ahead of us? Surely just making more and more money can't go on forever, can it?
I'm sure I'm not seeing the big picture here so please, could someone explain it to me?
It depends whether the government of that country is open in legalizing and regulating cryptocurrencies. For example you hold your bitcoins and didn't sell it when your country doesn't recognized cryptocurrencies as money then it won't change the economy but when you sell it for cash then it might add up in the usage of fiat and it may benefit the economy. I think the economy will be benefited if btc provide less traffic in transactions and if it help the people everyday lives be much easier because of extra income and I think before that happens they will add some taxes on cryptocurrencies. but when you invest and make profit like this and get rich you are just taking the money out of someone else's pocket! someone else is taking the money out of circulation, hands it to you and takes bitcoin and you are now owner of that money. so in the end nothing is changed, the money just changed hand. and that is true for every trade and profit earned that way. |
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