You call that ~6% drop a crash? That happens every week.
No it doesn't, for years it hasn't happened often, it did happen lots during and after the last bubble and has happened in the last few weeks, otherwise it has actually been quite rare recently. The big volume moves are all down at the moment, I am not optimistic of a quick rise back up to $1000. I hope it settles down and starts a slow consistent rise again, like in November and December, |
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reasons bitcoin is not ready for mainstream 1. public keys are worse then remembering a car number plate or someones email address, even QR codes are not 100% the solution 2. decimal values, which needs you to look on another service/site to find your local currencies 'rate' 3. tx fee is more than an hours labour in a dozen developing countries (the same countries that could need bitcoin much.. but are priced out of using) 4. the code is not preventing spam and is left for 'economics' to sort. 5. the 'economics' of avoiding spam actually hurts genuine ethical users more than spammers. 6. the solution to spam is to get everyone locked into permissioned contracts, which funnily spammers will avoid as their intention is not contracted payments, but to spam. until bitcoin is as straight forward to just buy something by simply swiping an NFC chip. thus not needing an old granny to have a brain bleed trying to fumble around.. .. bitcoin is not ready until devs stop pretending we are all on dialup 56k internet, and actually stop halting mainnet progress.. bitcoin is not ready For me the problem is that for spending, we need 0 confirmations to be accepted, or Bitcoin is way way too slow. I don't think a global currency is really suitable, if you look at the euro, they pinned a few countries together and it made it very difficult for them to control inflation etc. If Liberia and USA have the same currency, one will suffer badly, whereas the other will prosper. The number of transactions that can be processed is also far too low. |
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Sounds like a traders paradise, but a bit of a nightmare for 'normal' people!
If I decide I would like to sell 5 Bitcoins, when I withdraw my $4500, I pay 0.38% i.e. $17.1!
That is a lot to withdraw my money, a flat rate would never be that high, and the example given is only 5 Bitcoins
Traders should be welcomed, but I don't see why bots should trade for free, but people wanting to invest in Bitcoin should get screwed.
Good luck to them anyway, we'll see if it works out for them
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I do wonder where the Chinese miners will sell their coins now. They were using the huge volume of those exchanges as a way to hide their sales. I wonder if they'll go OTC now.
It's 'only' 1800 Bitcoin per day. If that is split up between a few farms, then each probably only needs to sell 500 per day. That won't crash the market, even if they dump it at market price, which I would hope and expect they don't do! There must be some OTC trades going on. If I were in charge of a big Bitcoin mine, I would be looking to have contracts set up to guarantee my price over a longer time period. They could sell at market price -2% or so, or try to lock in a price, though that might be a bit more difficult when the price is so volatile! |
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It's pretty easy here in Germany. Investing in Bitcoin is a tax free enterprise. You can buy your Crypto, hold it for 1 year or longer, then sell and it is tax free.
If you are trading then you will not hold for 1 year, so you will have to pay tax on any profits you make.
It's all basically time frame and mentality. The cuts offs are arbitrary, you can trade once every few weeks and you are trader, I think if you buy with the plan to sell in the near future, it is a trade.
If you buy and hope to hold long term, you are an investor.
I would propose the cut off as being - if you hold your coins on an exchange, you are trading.
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if vinny nailed that one i will write him a letter to express my admiration. it is, of course, way too soon to tell since there could still be a slide down to the $700s but he might as well be right: I seriously doubt we'll ever see Bitcoin in the $700's ever again, unless there is some major external event that occurs. respect. Looks like the time to stack big coins was around 700'ish. The chinese crashed the market to buy more coins as the unavoidable rise continues. The new ATH will be this year for sure, I feel bad for those that thought this was 2014 all over again waiting to buy bitcoins at 250 each... Don't feel bad when others lose money. It impairs your judgment. Their loss is your gain. They didn't lose money buy waiting for a price that didn't arrive. I would have bought more if the price had fallen to $250, but I won't buy at $800, but I haven't lost any money. Hindsight is 20:20, the price could have gone lower, or it could have stayed higher, no one knew what would happen. Also, their loss isn't your gain, if they didn't buy, then it means the Bitcoins were sold to someone else, and there is less money in Bitcoin now (only a very small difference, but whatever) so if fact their 'loss' is also your loss. |
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$880 is a nice recovery price today. It will be interesting to see what happens from here. Taking the bubble out of the equation, the price is about back on the upwards trend curve, so could well move up like it was before Christmas. If a whale dump happens today, then it seems like someone is defermined to keep the price down, then I don't see 4 figures happening again in the near future  |
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anyone got any LEGIT TA for us?
For Bitcoin? No. The technical analysts just say that if the price falls, it will fall a lot more. If it rises, it will rise a lot more. In stocks and shares there are traditional ideas that fit to established TA, but in Crypto we just draw straight lines on a log scale and say that the price will be something unrealistic in the near future. |
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Why the Bank would no longer fit for the future?
Banks are still able to adapt the trends and technology
They aren't usually the fastest to adapt. If they really do embrace blockchain technology, they could be signing their own death warrant. There are few advantages to having your bitcoin in a bank, and I think we could expect fractional reserve banking to happen with crypto too, if banks get involved. Banks don't like doing their job, i.e. storing people's money. They always see it as an opportunity to make more money, literally and in terms of profit. |
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Just a couple of weeks ago bitcoin was blasting over $1000, so I am wondering if anyone made big money by selling their BTC? Now it has came down to $830, even if last week it was close to $900, so I am not seeing getting back to $1000 anytime soon. Any profits or regrets here?  All the people like me who are holding some coins they bought when price was at 250$ First time I ever made a 4times profit ever xD But problem is that everyone will be full of regrets the moment BTC will crash the 2k$  That is almost exactly me, I had about a $250 average and I sold some of my coins (about 20%) at over $900. I did miss the top though, even though my girlfriend said I should sell at $1100! I don't mind missing the top, I was hoping for a rise to $1500, but it did look bubbly to me, and as soon as the price crashed $200 in 25 minutes, I was ready to realise some profit. I would probably have sold/swapped more if we had reached gold parity, shame. |
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" Eight men have the same wealth as 3.6 billion of the world's poorest people..... " It is time for the rich people of the world to gather in Davos-Klosters, Switzerland from 17-20 January 2017. The Chinese president Xi Jinping will also attend this meeting. During this meeting < expensive food & leisure accommodation >  a lot of hot topics will be discussed, like the struggling/dying middle class and unbalanced distribution of wealth. I was just wondering if Bitcoin as a possible solution to this problem, should be discussed at these meeting. Bitcoin can solve the problem with the billions of unbanked people and high banking fees and also distribution of wealth via micro tasks/payments. Would this once again, be a platform to make empty promises, where rich people gather to wine and dine at the expense of the poor? https://www.weforum.org/events/world-economic-forum-annual-meeting-2017/programmeShare your views on this matter please. ^smile^ I doubt the people attending Davos are too upset about inequality! They are the ones who make making billions whilst the rest of the world struggles to get by! Bitcoin would either be insignificant for them, or seen as an unwelcome change to the system. If they wanted to do something with bitcoin, I imagine it would be to monopolize it so that there is no 'new rich' uprising, like in the industrial revolution when old money lost power to new money. |
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The article name is "The Future of Cryptocurrency An Investor’s Comparison of Bitcoin and Ethereum"
Ryerson University
October 2016
Alexander D’Alfonso
Peter Langer
Zintis Vandelis
The objective of the study is to develop the ideal investment strategy with bitcoin and ethereum for a 1,000,000$ without any additional trading.
At the end, prediction models reveal that best strategy is to invest 69% into BTC and 31% into ETH to maximize the return.
And the expected value of this portfolio after five years is 1,351,800$.
Don't you think 351,800$ income is a little bit low for 5 years?
I think a 35% return over 5 years is a good return nowadays. It might not be a great risk reward, as ETH could easily be worth nothing in 5 years and who knows what bitcoin will cost. The guy going to prison for 5 years should have a look at this, it is the answer to his question, though I think he had less that $1mil to invest. If I had $1 million to invest in crypto, I think I would probably have less in ETH than suggested here. I guess that means I would have more in Bitcoin as I wouldn't invest any significant amount into any other Alt! |
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Good news or bad news, it is stupid! You can argue if you like that Bitcoin is a currency, or if it is money, or if it is an asset or a commodity.
I can tell you one thing for sure though, it isn't property!
It sounds like they just wanted to find some bracket to put it into, and they found one where they could heavily tax it, so it is now property in Israel.
At least they are taking it seriously I guess, but they could and should be embracing it, instead of stupidly naming it something it isn't!
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I can't see that Satoshi himself would have been pro hardforking out his coins.
If he set the 21 million limit, he will have known that some addresses will become dormant over time due to lost keys via stupidity and/or death amongst other reasons.
If he decides to sit on his coins and let them essentially rot, that is for him to decide. I personally would like to see them try to steal his coins, only for him to move them in advance!
Hard forks are a nightmare nowadays anyway. Who wants a Bitcoin classic?
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The move is obviously significant, it is a $350 move! It makes me think that we may not see an old style bubble of epic proportions again, this was more of a mini-bubble.
I sold a few coins, but missed the top. I don't day trade but I have been holding since about $250, so was ready to take some profit if I felt the price was rising too fast.
The big crash from 1100 to 900 in 1h was crazy and made me want to cash out some. Volatility is one thing, but seeing a 20% swing in minutes is another. It made me wonder that if China ever did really ban Bitcoin (not impossible) then what would happen to the price?
Anyway, I am hoping for the price rise that has been going on for 6 months will continue now that the mini-bubble is over. If the price goes down significantly more, I might look to buy some more (sub$500)
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As Bitcoin isn't anonymous, they can always follow the blockchain from the points of access and exit from Fiat.
It doesn't sound to me like it would be too difficult to do, I think a program could follow the bitcoins very easily.
You would be able to get around it if you so chose, make a fresh address and mix the coins or trade through Alts like Monero or Dash, then back into Bitcoin, then you should be anonymous again.
Important for me is that they can't close my account, like they could with a bank account. They can look but they can't touch!
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It's simple, ANON Coins violate Anti-Money Laundering Laws in countries like the USA.
The possession of gold and silver and cash must then also violate those laws. Hell, the possession of a good idea must be illegal in that country ! After all, that good idea is worth a lot of money, and it doesn't tell where it comes from ! If everything that is worth something, and is not intrinsically traceable to where it came from, is illegal in that country, then that's quite a non-free country, isn't it ! About time to take up your civil responsibilities, and fight such oppressive regime, no ? On the other hand, if you want to be a 100% fully law abiding citizen, that tries to please the state and the law, stay out of crypto, and use their fiat. Crypto has nothing to offer to you. You even see that a totally non-anon and fully transparant coin like bitcoin has led people into trouble. So you should change your phrase: "it is simple, crypto violates the anti-money laundering laws". It is BTW exactly to fight those laws that crypto was invented. Because those laws take away a fundamental freedom: the freedom to trade. I don't really agree with the premise that anonymous coins are automatically illegal, exchanges can still have KYC and trade limits for buying anonymous coins, then the inter-trade of the coins would be anonymous, just not the entrance and exit points from fiat. Gold and silver are pretty difficult to buy from a respectable place without providing any ID. The same is true of cash. All can be traded anonymously after they have been bought, just like Monero/Dash. |
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I just don't understand. It was almost like in an instant.
Was there some pretty bad news?
The volatility is very unpredictable right now.
Is this a downtrend or will it be back up?
Thanks
No one knows which direction the market will move! You can ask until you are blue in the face, the price might rise, the price might fall. It seems now like we had a mini-bubble. The Yuan price was 8900, which is an all time high, and about $1280. Now the Chinese price has fallen back into line with the USD price, and the mini-bubble has popped. We are back at mid-December prices, remember the price was sub800 early in December, so we are still actually up since then! I am hoping for a continued rise from here, without it bubbling over. Who knows what will happen though. |
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I keep my coins on my vanity address created by vanitygen
Use the public key (address) to check coins received on any web explorer.
If need to make a payment I use electrum.
Transfer the coins to the address i am making payment to and the remaining coins to a new vanitygen address.
Did you use an online vanitygen? I wouldn't trust that as far as I could throw it! I use Electrum and the seeds are my form of 'back up' Trezors sounds good, but I fear that a hardware glitch could lose my coins. I have heard that they are still recoverable in this case, but if that is the case, it means that the Trezor icn't really that secure anyway! Don't click on links, use strong and unique passwords, keep your antiviruses upto date. |
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It looks like Bitcoin is the "original", most popular, and most valuable at the moment. But, preferably from someone with a lot of experience in this, are there any others that look promising or any others that look like trash and should be avoided?
Years ago, a former roommate of mine who was majoring in something to do with software, tried to convince me to put a few hundred dollars into Bitcoin back when 1BTC was only valued at around $10 USD. I saw it as a fad or a scam so I declined, but now I feel like an idiot for not seeing that online currency was the way of the future.
Now, I see Ethereum mentioned a lot and it's available on Coinbase at a very low value, I've also heard other forms mentioned such as Litecoin or Dogecoin.
Do you see any of these having any future potential of being worth anywhere near as much as Bitcoin?
You are basically buying a lottery ticket if you buy into some crappy alt that has a very low value and you are hoping it will rise to Bitcoin-esque levels. Bitcoin was and is the original and the people who bought in early and have held, deserve respect for seeing the potential before most others did. That ship has sailed now though. You aren't going to find anything that is highly rated but so undervalued that it could rise 100fold like bitcoin has from $10 when your friend bought in. I cannot imagine that Ethereum will ever cost $1000, it would need to have a market cap of $100billion to do that, i.e. 7 times that of Bitcoin now. |
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