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4761  Economy / Trading Discussion / Re: Price stability-The end of trading between platforms on: February 12, 2018, 08:59:39 PM
Bitcoin was in my opinion never the best cryptocurrency for arbitrage trading. There are other cryptos with faster transactions and low fees. But as soon segwit transfers are the new standard, also little differences could be worth for beeing traded between exchangers.

It recently has been though. If we look at Zimbabwe, where the market was miles ahead of the rest, and especially the clown show in South Korea with a gap of $5000-$6000, there have definitely been some very interesting arbitrage opportunities. The gap between the western exchanges and those in South Korea lasted for several days, so it's not that Bitcoin's fundamentals were the limiting factor here. Admittedly, these are not the easiest markets when it comes to creating an arbitrage bridge, but those who managed to exploit the +$5000 difference have made themselves a good bit of money. Currently, South Korean exchanges are around $500 ahead of the rest, which is still worth it from my perspective.
4762  Economy / Economics / Re: Crisis is Coming on: February 12, 2018, 02:52:05 PM
I think US will have to print a lot of dollars to pay for this correction, maybe it will postpone the crisis, but it's probably inevitable to come.

They are printing dollars regardless of any stock market correction. People think that the economy in the last years has been climbing up nicely, but they completely forget the fact that everything is being pumped up by the endless money printing actions of the central bank. It's an unsustainable form of keeping an economy thriving, and that can't last endlessly. It's just a matter of time before everything implodes and we'll be going through a crisis far worse than the credit crisis of years ago. Bitcoin is a great safe haven asset to avoid being a victim of this system, but so is Gold as well. Just make sure you aren't too late with opening positions - better safe than sorry.
4763  Economy / Economics / Re: You missed all the trains, not just bitcoin on: February 12, 2018, 02:27:38 PM
Yes, it's really insulting, but if we are already interested in crypto-currencies and follow their development, then this is already good, and sooner or later we will have a chance to get rich.

How is that insulting? People should just use their brains and common sense ability for once. OP can talk as much as he wants with this or that coin has increased 100000% in whatever number of years. People don't seem to understand that no one keeping an eye on the market will ever be able to experience these gains, unless they forgot about their coins and recently realized that they still have them. The majority of the people cash out their profits below the 100% profit margin, and then you have the rest cash out below the 200% margin, 300%, 400%, etc. In other words, 99.9% of the people will never be able to experience these gain. Stop dreaming and move on, there is nothing to see here.
4764  Economy / Speculation / Re: Keep a Cool Head. Play Your Cards Right and Wait. on: February 12, 2018, 02:16:55 PM
Well op did say to hodl even if you're in profit, its just that you can sell a bit because you can't hodl forever. There should be a target for your hodl and you should have at least a plan or an idea about until when you're going to do that. Hodling is good but you can't hold forever

You can hold for ever if you stop being so fiat centric. Don't get me wrong, in terms of trading, there are indeed targets where you buy and sell, but when it comes to the coins that you hold, there is no point into selling any of them in the forthcoming years. I personally won't end up selling of my cold storage coins at all. It feels amazing that I have wealth stored outside the banking system, and that alone is worth way more than any short term profits I could gain by selling them. The main point is that you are exempt from any negative side effects that this on debt based system exposes everyone to. That alone should be reason enough to make people hold a certain percentage of their coins without any intention of selling them later on.

At some point you'll be able to buy your daily needs with Bitcoin, pay your bills, pay for gas, etc, where fiat will then be nothing more than a redundant loser currency. It may even come to a point where people don't even want to sell you their coins for fiat anymore, think about that. It's far away at this point, but not impossible, and I believe that there is a significant chance of this becoming reality in the future. If you believe in that, you will not sell any of your coins for actual fiat right now. But hey, do what you want, it's your choice after all. Smiley
4765  Bitcoin / Press / Re: [2018-02-11]Iceland to use more energy mining bitcoin than powering its homes on: February 12, 2018, 01:46:34 PM
They can build the mining operation in remote places and will not affect the power supply of existing users.

That's more often than not already the case, and it will likely start to 'affect' the regular power requirements needed for everything not related to mining, if nothing changes. That being said, the main power suppliers always have plenty enough extra capacity they can use in case there are extreme usage peaks. In case their extra capacity isn't able to cope with the fierce miner demand, they should consider upgrading their entire way of operating. If the long term demand is there, which is almost a guarantee, then I don't see why the power suppliers aren't willing to upgrade. If they aren't willing to upgrade, which is their loss, then miners will look for an alternative location, it's that simple. It's all about the business opportunities the power hungry miners offer, and there are enough power suppliers ready to serve them. If it isn't Iceland, another country will happily welcome them.
4766  Bitcoin / Press / Re: [2018-02-12]The 65 Percent Price Dip Has Made ‘Bitcoin Whales’ A lot More BTC on: February 12, 2018, 01:29:32 PM
Everyone with common sense has ended up with more coins after the most recent correction/crash. I started securing profits at $15,000 and continued doing so till a little over the $18,000 level last year. I kept buying back in smaller fractions all the way down to almost very close to the bottom. If I look at my net results in terms of coin quantity gains, for every 1BTC that I sold, I have managed to buy back ~1.85BTC. The results could have been a bit better if I didn't start with buying at +$10,000 levels, but you can't exactly know how deep the price will end up going down initially. Overall, I am very happy with the results, and look forward to more if the market isn't comletely bottomed out yet.
4767  Bitcoin / Press / Re: [2018-02-11] Bitcoin unlikely to last 100 years on: February 11, 2018, 08:13:12 PM
As soon as people come up with Bitcoin not having any intrinsic value, then I already know that it is a complete snob. Some times people just need to understand that there is more than what this shitty system has to offer, and that we are moving into a new age where traditional values won't continue to matter endlessly. In other words, how long will this on debt based system continue to last before completely imploding? You can't just print more money to cover holes endlessly. It's either adapting to the new and improved situation, or you'll find yourself covered in regret later.

Shiller said. "While Bitcoin production is limited to 21 million coins, there is nothing to stop new cryptocurrencies" from emerging, he noted.
Learn the difference between Bitcoin and the rest of the shitcoins you baboon. Shitcoins and shitforks don't have anything to do with Bitcoin's limited supply.
4768  Economy / Speculation / Re: Hodl hodl hodl... Bitcoin analysis on: February 11, 2018, 07:56:19 PM
It is still not clear to me about futures being relevant in Bitcoin at all... why pay attention to some numbers which hold none of the underlying? I certainly never look at futures.

Thus far the massive speculation around the future markets has not been justified, and probably never will. I think the market was hyped up because of how easily these futures would allow institutions to buy exposure, but people simply forgot that futures, regardless of how much is being bought (which is super low at this point), won't be doing anything, which also makes sense. Think like this, how can something that doesn't take a single satoshi out of circulation impact the market? It's impossible, and thus you are correct to not look at them. Futures are nothing more than tools for people and professional parties to gamble with, and that's not helping at all. It's waiting for tools backed by an actual number of coins (coins that will be taken out of circulation) to be introduced to start affecting the market positively for real.

Another indication of people thinking future markets had any sort of importance, was just before the first future contracts were going to expire. People were speculating about a dip, then an increase, etc. It again proved that futures are nothing more than a gimmick not adding any value to this market. Let's wait for more useful tools to show up in the forthcoming years.
4769  Economy / Service Discussion / Re: Poloniex verification - fake name on: February 11, 2018, 07:31:26 PM
You misunderstand, I don't want to continue to use the fake name, I want to switch to my real name.

You are not allowed to change your main details yourself, which is why Poloniex urges you to use your legal name, etc. If you want to change your name, where I am not sure if that is even possible with a fake name since that is considered to be a serious offence, you need to email Poloniex and explain them the situation. Think carefully about what your next step is. If you can withdraw funds, do it right now, because if Poloniex doesn't allow you to change your fake details to your legal details, they will then lock your account, and you will never be able to get your funds back. You agreed to all their terms when you registered your account, so you heavily depend on their mercy now.
4770  Economy / Trading Discussion / Re: Bitcoin now below 8000 time to buy now on: February 11, 2018, 06:55:24 PM
I guess we can touch 5,900-6,000 USD again after the new local high near 11,000-12,000 USD

It can, but the chance for that to happen is so low at current moment already, that you have more chance to win a <10 dice roll. At the time the market breaks through the $10,000 level, we should be up for an even higher increase, or at least up for a higher range just under that level. The thing is that people shouldn't expect the market to increase back to its previous levels just like that. We might not even see $15,000 for a few months straight. Instead of aiming at the market to increase without anything happening in the comings weeks/months, just use the slow and lower market to accumulate as many coins as possible. By the time the market does happen to start going up again in a quick fashion, you'll regret not having used current market conditions to your full capabilities.
4771  Economy / Speculation / Re: Hodl hodl hodl... Bitcoin analysis on: February 11, 2018, 03:39:20 PM
📉 -48% January 2018 Korea FUD. from $19700 to 9500

This part I don't agree with. At the moment the market reached near $20,000 (which was purely driven by the hype around the future markets), the CME Group went live with its futures platform, and at that direct moment, gone was the hype. Don't forget that the market increases in advance of whatever happening most of the times, and that in combination with the market being near the important $20,000 level, and already in heavily overbought state, it was almost a guarantee that the market would correct significantly, and that without fud. The only thing the South Korean fud did, if it had an impact on this market at all, was giving people more incentive to start selling. People for some reason always think something bad happened when the price is going down, and that wile every market experiences phases where profits are being taken, and that without any reason. If the market is overbought, and you are in the green big time, you sell, it's that simple. We have to accept that the majority of the people don't care about Bitcoin at all, and just want their profits.
4772  Bitcoin / Press / Re: [2018-02-10] U.S. Marshals Auction Completes the Sale of 3,800 BTC on: February 11, 2018, 03:16:12 PM
The Silk Road auction really shook the Bitcoin community, there was mass panic over them. This auction barely got noticed.

Why did it shock people? I might have missed the 'panic' over that specific auction, but there is nothing to get shocked about. The only thing that might have been the case, is that people consider the government to be a thieve in regards to seizing all the funds, where they then blatantly sold (auctioned) them for their own benefit. In that regard, it's basically criminals stealing from other criminals. Other than that, these auctions are meaningless for the average Bitcoiner. Only large parties are interested in these auctions as it allows them to buy a large number of coins at a fixed price, which is something they can't achieve when buying the same number of coins on-exchange with their futile orderbooks. That's why these auctions don't get any unjustified hype attention.
4773  Bitcoin / Press / Re: [2018-02-07] What Reasons Are Left to Buy Bitcoin Today? on: February 11, 2018, 02:48:11 PM
What reasons are left to buy Bitcoin? Hmmm....... Let me think, these are mine;

1) Avoid being a muppet in control of the authorities looking to sustain this on debt based system.

2) You can spend and use your value how you want without having to justify anything to whatever central authority.

3) Avoid losing purchasing power.

4) It's the front driver of a completely new asset class.

5) Massive long term potential, that even for an utter idiot should be a reason to invest in Bitcoin.

Note how for me the money aspect isn't the first on the list. I haven't cashed out any of my coins for actual fiat in the last years, and will not plan to do so in the forthcoming years. I don't see a point in converting my Bitcoins into fiat. If I do that, I'm going against my own principles, which is something I will never allow. People should really distance themselves from fiat more.
4774  Economy / Speculation / Re: Need some help with leveraged trading. on: February 11, 2018, 02:24:53 PM
Quote from Kraken's site;

Quote
Free margin is the amount of your trade balance that is available for opening new positions. Free margin is calculated as equity minus used margin. With equity of $8,750 and used margin of $2,500 free margin would be $8,750 - $2,500 = $6,250. Note that if you try to open a position for which you do not have sufficient free margin, the order will be automatically cancelled (with the message "Insufficient funds").
4775  Bitcoin / Bitcoin Discussion / Re: What would bitcoin be worth without Tether? The answer: around $4,500 on: February 11, 2018, 02:06:02 PM
What would Bitcoin be worth without emty headed baboons selling their coins like there is no tomorrow? The answer: +$100,000.

It's impossible for anyone to know what the actual impact of Tether is on the entire crypto market, so for that reason you shouldn't take everything said on internet for face value. If Tether is being 'printed' without being backed up by an equal number of USD in reserve, which quite some people here assume, then it may actually play an important role in getting this market to increase in a non organic manner. The main problem here is how Tether isn't open and clear about their actual USD reserves, and their direct ties with Bitfinex make things even worse. I am amongst those who aren't trusting Tether, and would even like to get it exterminated entirely, but without actual proof, there isn't anything we can do other than speculating. When the authorities lose their patience, which is just a matter of time, they'll raid Tether and we will find out what's going on there.
4776  Economy / Economics / Re: Do you see the connection? on: February 11, 2018, 01:38:23 PM
In the last couple of weeks we could see the problems on world stock exchanges, the fall of Dow Jones etc. Analysts say this will continue in the future too.
Although Bitcoin isn't tied to that market directly do you see any influence of this situation on Bitcoin price? What is your opinion?

It was pure coincidence, at least for now. In order to connect dots, we need to see this happen continuously, and as long as that isn't happening, just let it go for now. I don't add any value to the opinion of whatever analysts or experts, because they haven't exactly been a credible source with their failing forecasts. I find it more interesting to see Gold remain fairly stable since it is somewhat of a safe haven asset in difficult times, which should go up for Bitcoin as well due to their similarities. Gold has managed to remain pretty solid around the $1300 level per TO this year, while Bitcoin has taken a massive dive. Granted, Bitcoin was on decline already at that point, but it got dumped down just too much, even to the extent of the market being heavily oversold. If the stock market decline is going to last for a long while, it should result in a massive outflow of capital that will be parked elsewhere, because money doesn't like to sit still. It will in that scenario drive the Gold price up further, where some of that free capital might even flow into Bitcoin.
4777  Economy / Economics / Re: Where you see a Crash, I see a Fire Sale! on: February 11, 2018, 01:12:00 PM
Same here. I always do the opposite of what the majority of the people here do. They buy, I sell. They sell, I buy. It's a vice versa cycle that throughout the years has never changed, and likely never will change, and honestly speaking, I don't want it to change. It may sound a bit harsh, but this market isn't a playing ground for brainless imbeciles thinking to get rich effortlessly. People look at how the market has gone up, and see it as an easy way of making money, but they don't take into consideration how brutal this market from time to time can be. It can be so brutal, that it messes with them on a mental level, making them do things in a split second they later will heavily regret. Stay away if you can't handle it. Unerestimating this market will result in severe losses.
4778  Economy / Web Wallets / Re: Coinomi Good To Use? on: February 10, 2018, 09:39:04 PM
It is one of the more popular mobile crypto apps nowadays, which I am using as well. I personally only use it to sweep old private keys containing whatever shitfork coins, and have them converted to Bitcoin through ShapeShift. You can also choose to use Changelly, which does exactly the same, but due to the scam accusations against them, and the massive number of complaints, I recommend all people to stay away from Changelly. Make sure you write the recovery seed on a piece of paper to guarantee yourself access to your funds at all times.
4779  Economy / Speculation / Re: Dropping again like a stone on: February 10, 2018, 09:29:01 PM
it doesn't help that they've been accused of being completely biased towards BCH (some people find out about the cnbc staff collusion with Roger Ver)

I think the main thing here is that Roger has a very long track record in this ecosystem, where he has done quite some things right in the very early days. I am still somewhat appreciating what he has done back in the days, even with how he is trying to defame Bitcoin in current days. He is well spoken, very active on internet, doesn't mind to represent himself and his BCash project on the mainstread media, and they (CNBC) like his personality. Add that the majority of the people representing CNBC Fast Money are utter noobs, and there you have a bunch of noobs looking up to big daddy Roger Ver - the first Bitcoin investor as he likes to call himself. He definitely knows how to market himself. Cheesy
4780  Bitcoin / Press / Re: [2018-02-10] JPMorgan: Bitcoin Must Evolve, Blockchain’s Not a Threat on: February 10, 2018, 03:35:23 PM
Why should it surprise anyone that JPM (or basically any other financial institution) is investing in blockchain technology? It has been going on for years, so there is basically no way for anyone following the latest developments to be surprised. The main point is that whether banks like Bitcoin or not, it is taking over and as result financial institution will hop on board one way or another. And who knows, they may even hold a significant number of coins in reserve already through various proxy constructions. They have already been known for doing so for their wealthy clients, so it may not even be that far-fetched after all - they at least know how to do it. Wink
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