there isn't really a set amount for being a whale since the whale is not an exact explanation. and i think it differs from market to market. but basically you can call anybody who has deep pocket and can control the market price if he whishes.
can be 1000BTC
or can be 10,000,000 [put altcoin name here]
And in relation to the distribution of BTC. Get it ? BTC top holders are rare.. people who have a super small amount are common. So even though a super small BTC holder *may* be able to control a super small ALT market i don't think that makes him a true whale.. more of a pseudo-whale of sorts LOL Remember that margin trading is a thing - so someone can borrow large amounts of fiat to set up a buy wall and borrow large amounts of BTc to set up a sell wall - but in reality own a small amount, and are paying interest on the borrowed amounts. |
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Cryptsy's site has now been taken down entirely - for a short while it had "under maintenance", but it has now completely gone.
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Do not be so fast If you used them just a few times especially. They block accounts for silly reasons without alert and to recover the accounts they ask many silly inappropriate questions....
Yeah, you are true, it is not a single case a number of people have faced the same problem, We should not have to rely on these services for our bitcoin to exchange there, there are a number of other exchanges at there which are more better. Can you expand on this? I've used Kraken for a while with no problems... |
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I've used this forum since 2011 and that seems pretty accurate to me. Bitcoin has always been a magnet for radicals and scammers. They see new potential in bitcoin because these types of people think outside the box. The average boring person conforms with current standards never straying very far from the mainstream. Anarchists, radicals, libertarians, scammers, criminals, entrepreneurs, idealists, oddballs or whatever you want to call them exist outside the mainstream and are always searching for something new to further their agenda.
There used to be one other group that seems to have died out some. The something awful/buttcoin/professional troll crowd was at least a quarter of the forums membership at one point. Every other avatar you'd see was a my little pony character. Even the buttcoin foundation site hasn't had a new post since 2015. I see that as a very bad sign. When you aren't important enough to make fun of anymore - you're history.
I'd say that back in 2011 the criminals/scammers, plus the computer-programming/crypto enthusiats made up the majority of Bitcoiners. When Cyprus happened in 2013, you got an influx of libertarians. When the price shot to $1000 at the end of 2013, the speculators came in. At the moment I'd say the speculators were the dominant group. |
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But then you are saying they are meeting up person to person to transact and that I find harder to believe. Still see Filipinos lined up at Moneymart which cashes cheques and sends western union transfers. I do not doubt people use it their but I do not think they are sending the same amounts as they send Western Union.
The Philippines remittances through bitcoin arn't yet as big as western union, and that's because converting it to pesos at the other end depends on the pawn shops who charge the recipient the same as they would if they received money from western union (with the pawn shop pocketing the difference/saving). See the following article written by someone who worked at rebit.ph: https://medium.com/@Cryptonight/bitcoin-doesn-t-make-remittances-cheaper-eb5f437849feHere's a quote from the article explaining the problem: Rebit worked with on-the-ground kiosks that accepted hard cash from migrant workers overseas, and then paid out in hard cash to their beneficiaries in the Philippines. Bitcoin was used invisibly behind the scenes to settle the debt between the kiosk (in Hong Kong, Korea, Canada, etc) and the Rebit offices in the Philippines.
On the face of it, it sounds like a robust settlement process, because the blockchain-powered transfer of funds between the two companies is free, and confirmed within 10 minutes. But because we were mimicking the traditional remittance process so closely, we were also mimicking its costs.
The First and Last Miles Are Where All the Costs Are
There are obviously big expenses involved in operating the kiosk on the sending side: customer acquisition costs, physical costs, and big hairy issues like licensing and compliance.
The pawnshops are the last mile, and no one, not even the banks, are close to touching their aggregate dominance. As such, they can charge whatever they want for their services, and the oligopolistic nature of the industry ensures that there is very little difference in price between one provider and another.
As a prime example, to send the equivalent of $10 (about a day’s minimum wage in the Philippines) from one city to another, all the pawnshop networks charge 6-7%. When a Bitcoin company, acting on the behest of its sending customer, wants to transfer $10 from one city to another, it needs to pay that same fee. There is a lot more, it's an interesting read about the logistics of remittances. |
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So you would have to put a bunch of bitcoin atms around the bordertowns so that these people could send. Not every one lives in the cities though so not sure how much bitcoin would help. Its like the Nannies sending money home to the Philippines they rather stand in line at western union counters than use bitcoin.
There are plenty of people sending money to the Philippines using BTC - it's just that they are invisible because they don't stand in the street in line! See the following thread: https://www.reddit.com/r/Bitcoin/comments/4d46ya/how_does_one_send_remittance_to_the_philippines/coin.ph sends to 30 bank accounts, plus 22,000 cash pick up locations (mainly pawn shops) plus 450 ATMs. rebit.ph converts to pesos, has it ready at the pawn shops and the recipient picks up the cash in pesos. I imagine the Mexicans could easily set up a similar system |
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...
If you want just share a link + quote without adding anything from yourself, I think 'Press' board is more I just thought it was an interesting article and wanted to share and break up the interminable threads that are 50 pages long discussing "do you think the halving will change anything" and "what will make bitcoin popular".  As for leaving a comment, it seemed self-explanatory - there is a potential massive gain for BTC from Trump's confiscation of remittances plan that will knock the Cyprus thing in a cocked hat. |
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I see two problems holding back immigrants sending money to Mexico with BTC.
1) They have to buy the BTC here in the USA. Many do not have bank accounts, maybe most do not have computers (etc.). Availability of Bitcoin looks to be a problem.
2) As mentioned above, how do the Mexican recipients change their BTC to pesos?
Most of them get paid in cash - they have smart phones and computers. They can use local bitcoins to buy their BTC (paying in cash), or ATMS. and in Mexico can either use local bitcoins or ATMs to change the BTC into pesos. After all the Argentinians (who are poorer than Mexicans) managed to deal in BTC when they had currency controls... |
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http://www.ibtimes.co.uk/how-bitcoin-will-smash-donald-trumps-mexican-remittance-wall-1554717Last week, presidential candidate Donald Trump revealed his plan for funding the wall that he wants to build on the border between Mexico and the southern United States. How would he generate the billions of dollars to construct it? He has a simple plan: block the flow of remittance funds from United States to Mexico. Cutting off that resource would compel the Mexican government into agreeing to pay for the the wall, which has a reported cost of $10 – 12 billion dollars.
Trump's plan is woefully ignorant of what remittance is, how it works, and why it is so important. Millions of Mexicans living in the United States work and save their money so they can send it to their families who still live in Mexico. This is called remittance and it is estimated that over $24 billion dollars per year flows from the US to Mexico.
In a spirited blog post to accompany its latest poster campaign, eco-friendly Bitcoin mining company Genesis Mining imagined what would happen if Trump succeeds in getting his plan approved and Mexicans in the US could no longer send money home to support their families. Companies like Western Union, MoneyGram, and Xoom are all forced to comply with these laws since they are strictly regulated. What would the average worker do to make sure they can still support their family?
"The solution would be Bitcoin because Bitcoin can't be stopped. Not by Trump. Not by Putin. Not by anyone. Sure, you can pass regulations to make it more difficult to use but at the end of the day, if people need it, they will always find a way," said Marco Streng, CEO, Genesis Mining.
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Services like Xapo use email addresses, which people find marginally more friendly. But yes, the hard core bitcoiners who have their own wallets are small.
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So often the way, sadly. Even when we're told it's a hack the chances are it was someone with more straightforward access.
Why does crypto attract such shady characters? And why don't they put in place systems that restrict the access of employees to the wallets? The lack of basic risk management is staggering. |
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Just to give an update on this: BTC rates seem to rise when there is a pump on and lots of people who are margin trading borrow BTC to go long.
For other alts, when the price rises, the rates go up as the margin traders short. So rather than leave everything on auto, check what is happening, because you can sometimes get very good rates if you time it right. (Managed to get 0.08% on doge when it was pumping a few days ago).
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Use a standard exchange (Poloniex or Bittrex). The only difference is that you will have have to register in order to trade, but that isn't a big deal (I don't get this obsession with anonymity - after all you have to register with amazon to buy stuff from them, what is the difference between that and registering with an exchange to trade?)
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To answer your question: We run our own search engine with our own software including web crawlers (spiders), servers and lots of hard work, kind of like "Google for Bitcoin". Though we don't use any technology from Google other than tangentially searching for or investigating new merchant leads by Googling them manually, and usually it's to confirm their acceptance of Bitcoin.We have a blog where you can read about our technical milestones, challenges and musings: https://spendabit.co/blog/https://spendabit.co/blog/full-speed-aheadYou can join our mailing list too, right at the bottom of each blog post: https://spendabit.co/blog/search-back-up-and-new-backendAny chance of you setting up something similar for doge and ether as well? Would be interesting to do a comparison to see if they are really developing a market of whether it's just hype |
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Interesting. Now we can buy 2.5 million things with Bitcoin, but I could not even find anything that can be eaten.
I think there are voucher sites, where you can buy say walmart vouchers and then use those to buy groceries |
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Don't do this if you have children guys! Every man has a responsibility to make sure his kids are fed and clothed and educated and do him proud as they turn into fine adults.
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i think the better place is biggest exhanger like poloniex then you can withdraw after complete it
Is it all automated (completions within 15 minutes) like ShapeShift? Or do I have to wait for sometime to receive my altcoins? Poloniex is an exchange - so you'll have to register with a name and email address. But once there, trading takes a couple of seconds, and so does the withdrawal - you withdraw, confirm the withdrawal email, and the coins get sent to you within minutes. Same thing does for bittrex- it is an exchange. |
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Practice risk management - don't go all in, only risk 10% of your funds per trade. That way, if the trade goes wrong, you still have the rest of your funds to trade with.
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http://bitcoinist.net/bitcoin-and-divorce-a-match-made-in-heaven/There appears to be a new weapon in the battle for divorce by vindictive estranged partners: bitcoin. Yes, it turns out that bitcoin is causing a bit of a stir in the legal community. In many countries wealth isn’t divided equally based on how much a person earns, but how much is contributed to the marriage. An example of this is a man with a hefty income and a wife who acts as a housewife who raises the kids and does the housework – a feminist’s nightmare, but sadly a situation that is still prevalent in today’s society – will be entitled to equal funds as it’s considered by the judge that they have both contributed evenly to the marriage: his funds and her time and effort in raising kids and keeping a house. This has led some desperate men (and women) to seek ways to hide their money and that is where bitcoin has stepped in.
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Investors exit to sit on sidelines. Confidence in Bitcoin is undermined by the decentrally insolvable block size dilemma and unknown consequences of the summer halving.
Well that's plausible I guess. You certainly can't deny that bitcoin is stuck around 420, and there's something keeping it there. It may be that it's just stable for now. The bearish alts market we're having might be caused by players having lost confidence on ETH, and has nothing to do with BTCBTCBTC at all. The bearish alt market is just down to people sensibly taking profits, and the rest of the fall is usually triggered by stop losses. |
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