Its just Speculative trading .(you can make huge profit huge loss)
Wherein Stock market its intrinsic value +speculative.
Cryptocurrency News, True or not. The traders, Miners, and actually most of all that uses cryptocurrencies but this 3 factors is the main aspect for me that really determines what will be the price of bitcoin. Cryptocurrecny News: Whether it is true or not, publicity is publicity, the recent down in price of bitcoin is because of the FUD that happens in the last week about this Jamie Dimon guy and the banning of bitcoin in China, because of this people panics that resulted to the price drop. Traders: Actually this people is really the one for me that is doing the volatility of any crypto coins because they read the chart then they will do what they think is right, most of them also bases their analyzation from News. Miners: Even though they are just mining and getting fees out of a transaction, for me they really affects the price if they stop mining or they are out numbered to the current transaction that is happening in the network and this will cost a higher fees most of the time. |
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Please forgive my cynicism.
I was offered bitcoins in I think 2010 when they were 50p each.
I was tempted to buy £200 worth but had been just lost £200 to a ponzi money scheme so decided against it!
I have seem recent reports saying they are now worth £2,500
Are these the same Bitcoins?
So would I be able to actually sell for cash or money in the bank?
Sorry to ask, but I see lots of people saying they are millionaires but don't think I have seen anyone with the actual money banked.
I mean, my 400 bitcoins would now be worth £1,000,000 and I could actually sell them for £1Million less commissions?
You gotta see I'm sceptical.
Please tell me I haven't made the biggest mistake of my life?
Who am us to blame you to what you did, you were just innocent back then and most of us here also, who thinks the bitcoin price would reach its current value right now. Me too I didn't saw any of my friends or other people that is close to my community that invested way back then and became a rich person now. Being skeptical is just normal especially when you are using the virtual world with your hard earned money and with that mistakes really happens. If you just knew what is the future back then and still didn't invest then that is the biggest mistake of your life but you didn't know so it is okay, It is never too late to start from scratch. |
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the news is 10 days old but i have not seen it here so far, so here is goes: finally US is catching up to the world! in Tax Fairness Act of 2017 it proposes that customers do not need to report transactions less than $600 worth. this is great but it is while Japan and Australia have completely removed taxes from any bitcoin transaction no matter the size. #baby_steps “Cryptocurrencies can be used for anything from buying a cup of coffee to paying for a car, to crowdfunding a new startup and more and more consumers are choosing to use this type of payment. To keep up with modern technology, we need to remove outdated restrictions on cryptocurrencies, like Bitcoin, and other methods of digital payment,” said Polis. “By cutting red tape and eliminating onerous reporting requirements, it will allow cryptocurrencies to further benefit consumers and help create good jobs.”
“Individuals all over the world are starting to use cryptocurrencies for small every day transactions, yet here in the States we have fallen behind and make cryptocurrency use more of a challenge than it needs to be,” said Schweikert. “With this simple legislative change, anyone can make digital payments to buy a newspaper or a bike without worrying about tax code challenges.”
“While Bitcoin and other cryptocurrencies are technologically innovative payment methods, today you have to keep track of and report every transaction you make using them, whether it’s a $10,000 investment trade or whether you’re buying a 99¢ song online or a latte at a café. This obviously creates friction and puts cryptocurrencies at a disadvantage relative to other digital payment methods,” said Jerry Brito, Executive Director of cryptocurrency think tank Coin Center. “We applaud Representatives Polis and Schweikert for their leadership in introducing the Cryptocurrency Tax Fairness Act, which would treat cryptocurrencies similarly to how foreign currency is now treated and relieve users from having to keep track of small personal transactions. Not only will this create a level playing field for digital currencies, it will also help unleash innovation on applications like micropayments, which can consist of dozens of transactions per minute and thus are difficult to square with the current law.”
If this news is really true then it is so good news with the Bitcoin community as one of the strongest economy in the world is supporting Bitcoin as a payment to any kind of small things that you can bought online. How I wish that China will do this also. It seems that USA is really supporting Bitcoin because they are seeing the future of digital currency so if they will hinder it they will lose in the long run. The move of one country will impact to other countries so let's hope for the best for the future of cryptocurrencies. |
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Who said Bitcoin is illegal? I think Jamie Dimon said 'Bitcoin is a fraud' and China was said they will be banning ICO's and Bitcoin Exchanges in their country. No one said Bitcoin is illegal.
I am agreeing with you when it comes to a business strategy though as this Jamie Dimon guy is really a stupid one as he only says what he wants to say about bitcoin because he have a hidden plan that will benefited his own company, he just go with the flow with these China's issue regarding ICO's and he said this bad words about Bitcoin to impacts its price.
Then why they are banning bitcoin trading? It is like indirectly saying that bitcoin is not something 100% legit. If it was fine then banning anything surrounding Bitcoin (ICOs, exchanges) wouldn't be needed. The trading ban will make the situation of miners/traders/normal users much harder in China all because the Chinese government is afraid of the crypto revolution. For me they are banning bitcoin ICO's, exchanges and other form of it because there are huge amount of yuan money is circulating all around their country because of this cryptocurrencies and the government of China is making a move to go in also, who knows what is the government's intentions but what I feel is they want to put a tax on it. You know and I know that people of China who uses Bitcoin and other cryptocurrencies can still uses it even after the total ban, there is always a way. All government for me is a true regulators and if they don't want something they will make a way to fight it until they'll kill it. |
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China and JP Morgan just playing classic strategy on bitcoin. Now they announcement bitcoin illegal, when price down because panic attack they buy bitcoin, and then they will create new announcement that bitcoin is legal... and kind of that. so bitcoin price up again, and they wealth is higher more than before. lol... Classic business strategy.   Who said Bitcoin is illegal? I think Jamie Dimon said 'Bitcoin is a fraud' and China was said they will be banning ICO's and Bitcoin Exchanges in their country. No one said Bitcoin is illegal. I am agreeing with you when it comes to a business strategy though as this Jamie Dimon guy is really a stupid one as he only says what he wants to say about bitcoin because he have a hidden plan that will benefited his own company, he just go with the flow with these China's issue regarding ICO's and he said this bad words about Bitcoin to impacts its price. |
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It seems that Bitcoin is back to wherever it is before and I really don't know what happened, can anyone tell me please. As I thought that the downfall of bitcoin will be resulted of too much transaction that will be done of the panic sellers but it seems the reverse happens, I just sent my transaction with a $0.01 worth of bitcoin within 25 blocks and I can also choose to send it within the next block for only $1 worth of bitcoin. Any thoughts?
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I call it $3000+ and that is it, it will stabilize there and will maintain until the full implementation of Segwit, as there is no wrong opinion here that is only what I feel. Not all of the Chinese investor will invest out their cryptocurrencies as many of them really think and believe that it will get high in the future that is why the large portion of miners is in China because they are good at predictions and math.
Let's hope not to fork or else it will be a disaster for the price of bitcoin or vice versa.
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Maybe the floor that will end this is the floor when most all of the Chinese investors takes out their cryptocurrencies, I can't really say what is the price of that as we know that most of the miners are Chinese so logically they have a great amount of different cryptos. Of course not all of them will opt out but most of them plus the issue that this Jamie Dimon did told the world.
Let the weak leave and the brave lasts, it is a bloodshed indeed in cryptocurrencies right now but it will soon clot and after that it will make it stronger more than ever. For those people who are old enough in this forum will surely knew about this and it is just another event that will go away.
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I'm the OP and I'm alive guys, and Still HOLDING, not sold my LTC @ 90+.
I'm still holding, no panic sell guys, believe in crypto, fuk china.
Prices will recover like always.
Hold is the right thing to do! Believe and HOLDDDDDDDDDDD!!!
This is a good sign of a believer, lol. Is the hodl of your bitcoin still there or not? how much did you invest in LTC back then and how much it valued right now? if what you have said that you can buy a 10 apartment then it means that your $42,000 becomes $420,000? It seems that you really doesn't care about the FUDs and negative naysayers of cryptocurrencies and with that you really sow what you have been reap. Long live your patience and discipline, salute! |
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Should I stop buying BTC for above market value or should I start paying the listed price? I support Bitcoin and still pay 5k a BTC does anyone see bitcoin going back up?
If you may ask me what is the better thing to do then I would recommend the old saying of professional traders 'buy low, sell high' as bitcoin is experiencing a downfall right now I think it is the best time to buy because of this issues that made the price of bitcoin to plunge down. But it is better also to invest only what you can afford to lose. No one can really tells what will happen in the future but you have a chart of past market of bitcoin and just take a look and understand the history of it and it will surely help, as history repeat itself. |
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He sent me this pic:  What a very nice thread with a picture to start despite of the massive down in the price of cryptocurrencies though, I believe in the future of Bitcoin also, especially the year of 2020 as a vision of an eye that is so clear. When bitcoin is going down most of the altcoins goes down too because the father is tired and need a rest but when he is ready to go and rise again, altcoins will rise too and this is a simple logic that can anyone sees when they look at the market cap of cryptocurrencies. |
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News about banning ICO's in China truly affects the price of bitcoin nowadays because a large portion of bitcoin miners is in their country plus aside those miners there is a lot people who really participate in the world of cryptocurrencies that back off temporarily with this said event. And the issue about this Jamie Dimon that telling 'Bitcoin is a fraud' and will fire his employee who will caught in trading bitcoin, so this is the main issues that really affects the price of bitcoin.
And the other issue that makes bitcoin's price down is the traders that is making profit out of it, most of them have bots in trading and of course it has been triggered to sell when some unusual downfall in price.
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Jamie Dimon did a comparison between a Tulips and Bitcoin where Tulipsmania happened a very long time ago and take the fact that it is last only less than a year comparing to bitcoin that will almost reach its 10 years of existence, let the haters of modern technology say what they really want to say as I think they are just doing this to get something up to in their own advantage.
Bitcoin is not an immortal currency of course, down trend in price is just a normal thing I think when it comes to currency and in the market. How many times did we knew that bitcoin survives but still go up soon, trust cryptocurrencies and never mind the haters as they only want publicity, for free.
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It will never happen I think because even though Bitcoin is a world wide digital currency and anyone can use it Fiat money of every single country in the world is the most important thing in their economy and that is also their identity as a nation, kicking one currency with another will not help the other one to increase though.
Bitcoin will soon be very well known with every of your family member but the old people that is used to trade locally will not fully recognize the potential of bitcoin no matter how we teach them.
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Two books for consideration:  The book on the left is about how to screw over just about everyone on your way to wealth. The book on the right is Adam Smith's great treatise on wealth itself. Apropos "Bitcoin is a Fraud", I have highlighted the relevant chapter of the right hand book, "Of the Origin and Use of Money".  I just now re-read these all-important 9 pages and made the following notes and personal observations: - Every woman/man must live by exchanging the surplus of her/his own labor.
- Some of the commodities exchanged throughout history include livestock, salt, shells, fish, tobacco, sugar, & precious metals (gold, silver, copper, iron, etc).
- In any quantity, use of precious metals became cumbersome as metals need to be accurately weighed and assayed for valuation.
- Coined money was introduced to compensate for the preceding challenges.
- Person to person exchange preferences gravitated from other store-of-value commodities (e.g. livestock) to precious metals; people naturally preferred carrying coins in their pockets instead of salt, fish, etc.
- Smith defines two types of value of a particular commodity, "value-in-use" & "value-in-exchange". The former describes the general utility/usefulness of that commodity, whereas the latter describes power of purchasing which ownership of that commodity affords.
I quote Smith's conclusion (pp 31-32) word-for-word here: The things which have the greatest value in use have frequently little or no value in exchange; and on the contrary, those which have the greatest value-in-exhange, frequently have little or no value-in-use. Nothing is more useful than water: but it will purchase scarce anything; scarce anything can be had in exchange for it. A diamond on the contrary has scare any value in use; but a very great quantity of other goods may frequently be had in exchange for it.
Details: | Left Hand Book: | Right Hand Book: | | Title: | W.S.O.B.S.A.N.G.F.L.I.A.S.B. | The Wealth of Nations | | Author: | Fin. Mgmt. Assoc. Phoenix | Adam Smith | | Forward by: | | Robert Reich | | ISBN: | 0-930566-01-7 | 0-679-78336-9 | | Written: | 1976(?) | 1723-1790 | | Still In Print: | Thankfully, no | Thankfully, yes |
 We can probably all agree that anyone who publicly threatens his employees with termination is an SOB. I encourage all whom are interested in cryptocurrencies to read "Of the Origin and Use of Money" and draw your own conclusions. Jamie Dimon just makes himself look stupid... He compared Bitcoin to TulipMania. Only a few problems with that.... TulipMania last over a period of only 6 months, bitcoin is apporaching what, 9 or 10 years now? Mania of almost a decade of delusions? I don't think so. Next issue, Tulips can be grown by anyone and were grown by a bunch of people. It was easy to get into the game and make tulips. You cannot just get into bitcoin mining and make new bitcoins beyond what the difficulty adjustment lets happen. In all reality, we know on average how many BTC will be made per day, per mont, per year, and so on. It is public, planting Tulpis and doing all that isn't publically accesible knowldge. Then, the obvious part, Tulips are flowers that don't really have any value beyond someone saying they do. They don't do anything. Bitcoin is a distributed network that is secure and public for all to see, specifically made for use as a currency Peer to Peer. Tulips aren't. Tomorrow some idiots could make a new currency where they plant some other flower and call it a currency and speculate onit. Doesn't mean it is worth anything unless people say it is. Bitcoin has intrinsic value, of being anonymous(if you take care to be), being public, being secure(SHA256), and having a huge mining operation continually maintaining updates and security. Tulips have none of these qualities. Jamie Dimon is a complete idiot when speaking about Bitcoin. I am very much agree to what you have said iluvepie60 that is a very well said comparison between Bitcoin and tulips way back year 1636 that is an old story but you nailed it though. For me Jaime just said what he wants in able to take a hidden agenda behind it, he knows that he is an influential figure to others and some people in an investment industries believes him. I also think that he already did an investment to bitcoin and wanted to lower the price of it to invest more of his wealth. People will keep on telling something bad about bitcoin and we can't do anything about their opinion because that is theirs, Jaime just really made himself stupid. |
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Though truly profitable, ICOs are considered scams by many but there are few that are truly legitimate. Just the right choice for China because these ICOs are targeting the people of their country because there are many crypto currency investors in China.
Unless it has long term success, ICOs are only profitable to early adopters (if the token is not launched below the ICO price, of course...) and a few other investors who buy before the pump. The point is, it's not hard to understand that most ICOs will not have long term success, and many people will have to learn the hard way. No ICO's that specifically targeting China, it targets the whole world especially those who really in the cryptocurrency scene now, I really don't know why Chinese government made a move like this to their citizens, it seems that their cyber authorities is so great that they can monitor every financial flow in their economic growth and see that most of the money of their people is moving inside the crypto world. For me ICO's are simply risking your money because you trusted that company who made that platform to be successful in the future, unless you are just investing blindly that you will not take time to study what is the background of the ICO itself. |
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Everything has a limit though if you may ask me but in what extent then and with that I can't answer you but for a wild guess I think sum up all the money in the world and it is the total market cap of bitcoin, potentially. Just imagine the future of currency is bitcoin.
Bitcoin is a digital world wide currency so it means that every single Fiat money of a single country can invest in it, if that time comes that every establishment in the world really accepts bitcoin as a payment in exchange of their services then I think the value of a single bitcoin will be so high.
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To those people who is gullible enough will surely believe what he just said about bitcoin now yet this guy already said something bad about bitcoin in 2015 and look at him now, hello to $4000 per bitcoin Jamie, this man have a hidden agenda that is why he keeps on bashing bitcoin because he is a business man that is making a profit out of banks and treating bitcoin as a number one enemy.
the future of currency is bitcoin and banks will go down just like what happen to kodak when it comes to photography film and that is the fact that Jamie Dimon is afraid of.
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Finally price is going down. Time to stock up  Are you guys as happy as I am? If only I just got the money to invest more with bitcoin then I will do it but so far all I got is bitcoin and with that I am fine though, I think this is a replay of where what happened last time when bitcoin is reaching the $4,000 price it got to a $1,800 from around $2,600 before it pump up right before and after of august 1. Let's just hope for the best for bitcoin then as many naysayers are keep on destroying the reputation of bitcoin but I know it is just a temporary issue in the price of bitcoin and it will soar high again very soon. |
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