To avoid high fee when transfer, you should use exchange like Wex.nz , Bittrex, Binance. Dont use Jaxx or changlly because they have high fee.
what you're paying for with jaxx (shapeshift onboarding) or changelly is wallet-to-wallet trading. this way, you don't need to keep your funds on deposit at an exchange, which carries third party risk. it's basically the equivalent of depositing X to wex.nz, swapping for currency Y, and withdrawing it to your own wallet. if you're comfortable leaving funds on the exchange, then use centralized exchanges. but the less time you do so, the better. these exchanges are prone to hacks, exit scams and seizures.
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“The millennials in the U.S. are driving this adoption and recognition that blockchain and cryptocurrency and sort of digital businesses is going to be a real asset class,” he added.
he's right. it took years for my generation (twenty-somethings) to come around, though. with one exception, it wasn't until bitcoin was above $10,000 this year that my friends finally took an interest. in contrast, i haven't had any older colleagues or family members ask me about it, even though i've been mentioning my involvement in bitcoin trading for at least 3 years now. the older generations are still stuck on traditional investments like stocks and gold. the exception seems to be technical traders. well-known traders like peter brandt, john bollinger and steve burns have all been dipping their toes into the cryptocurrency scene. their involvement on social media has done a lot reach a new audience of investors and traders.
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The only one that counts is BCH but the reward is still 1/4 compared to BTC. So not all miners are going to switch to BCH.
BCH is also an interesting case because of the covert exploitation of asicboost, which was addressed by segwit in BTC. that amounts to a 30% cost advantage over other miners, discouraging decentralized mining. this is why the vast majority of BCH hash power comes from unidentified miners. it's presumed to be mostly bitmain's hash power. if you're mining BCH and you're not bitmain's patsy, then the only other explanation is that you are extremely bullish on BCH vs. BTC.
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At the rate of 1 (being the lowest) and 10 (being the highest), how optimistic are you for the coming new year 2018?
are we just talking about price, or evolution of the bitcoin and the cryptocurrency ecosystem? i'm very bullish on the latter in 2018: i'd give it a 10. with the maturation of the markets and financial powerhouses entering the space, as well as exciting new tech like DAGs and decentralized exchanges, it's going to be an exciting year. i'm less sure of the price trajectory. i am very bullish on crypto in the long term, but i know there will be some big corrections along the way. there's no denying that we are in a major speculative bubble right now. this rate of growth isn't sustainable, but it's also hard to know when it will slow down. at some point, speculation will dry up (like it did in early 2014) and the short term speculators will start selling to long term investors. that could take place next year.
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I mean, they are so rich, they can start to mine Bitcoin, even if they lose some money they shouldn't care, they are ok with all those money they already have. one thing about "getting rich" is that it's never enough. people with a lot of money tend to want more and more. the richest people i've ever known have also been the cheapest/stingiest, unwilling to spend money on anything. that's partly why they became rich. it's also not easy to just start mining bitcoin. with the difficulty trend and unreliability of prompt shipping of miners, you need to be extremely well capitalized. you'd probably need to dump several million $$ into a well planned mining operation to be viable. in order to do so, you'd also need to sell a shitload of your BTC to cover overheads, and you'd have to pay capital gains taxes on all the gains. If you became rich and you are doing the dream life that everyone wants is thanks to Bitcoin, don't let him die.
fortunately, there are some good souls who are early holders. see https://pineapplefund.org. With bitcoin reaching new heights, we're donating a massive amount of BTC to charities and causes all around the world. 5,057 BTC ~$86 million USD total committed. 4,646 BTC ~$79 million USD remaining. 9 charities supported so far. View the address: 3P3QsMVK89JBNqZQv5zMAKG8FK3kJM4rjt.
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i cannot understand, why you all are that passive at the moment. I know alot of you bitcoin fanboysforever will tell me: oh its just another dump, bitcoin will stand up again, its normal, its so volantible, its going like this for years... personally, i lost the will to fight after the UASF drama this past summer. i'd been fighting big blockers (here and on social media) for two years already. then all of a sudden, people who i considered friends began promoting an incompatible fork (BIP148) on a 2-month timeline, and they tried to coerce me into running BIP148 against my will under the threat of a wipeout attack (massive chain reorg). now i'm a purely rational actor. i only care what the market does, and i'm damn good at hedging my portfolio. and yes, that means i doubled my trading account flipping BCH yesterday while those same BIP148 supporters were hysterically angry and fearful of BCH's rise in price. I am holder of a lot of Bitcoins, not a single BCC, because i hate it. Right now a small group of bad guys destroying Bitcoin for making BCC the new lead. We have to fight against it just now with every single coin. Sell all your BCC, buy BTC and help yourself to make our future bright and wealthy again!
Stop beeing sheeps, become wolves again!
good on you, i guess. but you're expecting people to be irrational. i think BCH has terrible fundamentals, but i don't fight the market. in a way, it's good that i felt so betrayed by the bitcoin community back in july. now i am a battle-hardened and purely rational. emotions and bias will only hurt you in the world of trading and investment.
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Users set the fees. If you don't want fees to escalate, then don't send transactions with high fees.
there is a lot of truth to this. bad fee estimation, and services assuming that next-block confirmation is required causes median fees to drastically increase. users should push back against exchanges and payment processors who use high fees. and users should start manually determining fees based on congestion and priority, rather than letting their crappy wallet screw over the fee market. large services and bad fee estimation by wallets (with help from spam attackers) are constantly front-running the market, pushing median fees higher and higher. also, bitcoin isn't instant. it never was, and services should stop selling it as such. i wish we as a community could push back against this idea that bitcoin was invented for "instant, cheap payments." that's just some marketing gimmick from VC-funded bitcoin startups. where does it talk about this in the whitepaper? if it's not instant, it can be cheap. or at least much cheaper than what people are currently paying.
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i'm not sure if this report is legitimate. the article says: After more than a year of deliberation, the EU decided to outlaw anonymous cryptocurrency transactions on Friday, according to a report from Reuters. yet they don't link to reuters. i've been searching on google and there is no confirmation of the story. it seems like speculation or click-bait. however, there are related regulations being crafted right now. what the final laws will look like? we don't know because they haven't been published: The Treasury is planning new legislation that will mean anti-money laundering and counter terrorist financing rules apply to cryptocurrency in future, according to reports in the Guardian and the Telegraph.
It will include rules forcing traders to reveal their identities in some circumstances. Under an EU-wide plan, online platforms where currencies are traded will be made to carry out due diligence on buyers.
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TL;DR? We all know that the fees are currently high so we must do something about it. What every user could do right now is to simply use SegWit wallet and take control over his private keys. I feel like more people need to read this so feel free to give this thread a bump from time to time.
i guess i agree with this sentiment. the problem is that it doesn't make much of a difference. in the past couple months, median transaction fees are now 350% higher than late october, and every day the spam attacks are pushing them even higher. in that context, 30-40% means very little. what the ecosystem desperately needs is not segwit adoption, but rather market competition for ASIC chip manufacturing. i really hope halong mining is for real. as long as bitmain controls a majority of hash power, they can continue this attack. they are reaping much higher block rewards because of the congestion (including the fees from their spam attacks). this is basically a war of attrition. they are starving users of confirmation, much like a 51% censorship attack.
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Clearly insider trading has been going on, BCH has had ridiculous % increase.
that's irrelevant to whether insider trading took place. in my view, the BCH chart looked like a lot of other altcoin charts, several of which broke out within the last day. did the market erupt on the news? sure. so does the market when altcoin devs release news or exchanges add new market listings. i don't see what all the fuss is about. when people allege "insider trading" what law are they referring to? i'm assuming SEC regs? here's what they have to say: "Insider trading" is a term that most investors have heard and usually associate with illegal conduct. But the term actually includes both legal and illegal conduct. The legal version is when corporate insiders—officers, directors, and employees—buy and sell stock in their own companies. When corporate insiders trade in their own securities, they must report their trades to the SEC. For more information about this type of insider trading and the reports insiders must file, please read "Forms 3, 4, 5" in our Fast Answers databank.
Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security. Insider trading violations may also include "tipping" such information, securities trading by the person "tipped," and securities trading by those who misappropriate such information. https://www.sec.gov/fast-answers/answersinsiderhtm.htmlif bcash is not a security (and i believe it is not), then this seems irrelevant.
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this is nothing new. you could find these same pump-and-dump tactics employed on penny stocks in the yahoo finance forums! this has been happening since the early days of litecoin, when fontas was using the btc-e trollbox to pump and dump the first generation altcoins. anyone remember fontas?! i see advertisements and shills for these pump groups all the time today (indeed, they are mostly telegram groups and things like that). but the fact is they are too small to manipulate the market for any real length of time. what the group operators are really doing is shilling their current holdings to their followers. then they dump everything on them. that's it.
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Have anyone tried virwox? Virwox is a good exchange platform the problem is they have limits and high transaction fees.
they have extremely high fees. the main reason people use them is for the paypal/moneybookers processing, but you're better off finding a trading partner here on the forum (see the currency exchange board). you need to keep in mind that there are steep "conversion fees" on top of the fees listed for processing your funds on virwox. for example, listed paypal fees vary from 3-4%. but here's the rub: Technically, VirWoX only supports to sell BTC for Linden Dollars. However, you can first do that (as described above) and then buy some real-world cash for your Linden Dollars. the market for linden dollars (SLL) is extremely thin, so automatic conversion (market orders) leads to significant loss of value. and to boot, they charge something like 3% just for BTC/SLL market orders. here is someone's experience from earlier this year: how much virwox fees when converting from paypal to btc for example if i input 100 $ from my paypal to virwox ,how much btc i will get in the end
Virwox is fastest. Just used it to buy bitcoin from there. It took me 3 minutes to deposit money and convert it to bitcoin. But the conversion fee is little high. I deposited 100 dollars but received 87 dollars worth of bitcoin. But it is easiest and fastest purchase out there. But I do think the that conversion fee is worth risking now. Because bitcoin will be much higher in next coming months. Your 100 dollar bitcoin will be worth 1000 dollars next few months.
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Has the Bitcoin crash just started?
doesn't look like it. it's pretty well understood that parabolic trends end with blow-off tops. that means a very steep rise followed by a swift crash. take a look at the bubble at the end of 2013. when the market finally topped, we dropped ~54% in three days ($1175 to $538). for comparison, we have just dropped ~17% from top to bottom in the last three days. this looks like just another typical correction. with any luck, we can shake the trees a bit and fill my bids far below here.
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Hi everyone, I've been using hitbtc as my main exchange for around 3-4 months now, mostly since it doesn't require id verification for changing crypto to crypto. I've been checking around the scam accusation board and I've seen quite a lot of reports against hit btc so I'm looking to change exhanges. most of the altcoin exchanges have similar complaints and accusations. the complaints about bittrex seem to vastly outnumber any other exchange at this point. it seems to be okay for US residents, but i would steer clear otherwise until there is more clarity about all the locked accounts. What is another exchange where I can trade crypto to crypto? As low fees as possible of course. binance seems to be edging out the competition these days. bittrex and poloniex are both facing scaling and regulatory issues (accounts/withdrawals being disabled for KYC, etc). binance requires no verification and despite all its recent growth, their trading engine performs really well. the main drawback is that they don't offer enough coins for my taste. added bonus: binance has referral commissions. so you can farm your own referral.
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I would be interested to know how compelling people find this news story.
Paper fiat is much less traceable than bitcoin and likely a far better option for illegal activities than bitcoin or crypto currencies are.
It is known that the united states military routinely "loses" billions of dollars in fiat & billions in military hardware all of the time:
It would depend a lot on the architecture they're using. It's not clear if this is going to be a Bitcoin attempt or just an all-covering cryptocurrency bid. If it looks more like Monero than Bitcoin, it may very well achieve its targets of avoiding sanctions. maybe some years out, but at this point, there is no liquidity in the XMR market. it is far too illiquid to be relevant to state actors or their proxies. in fact, i think people are writing BTC off too easily here. the thing about blockchain analysis is that it takes place after the fact. western governments and their consultants like chainalysis/elliptic can flag addresses and wallets suspected of association with sanctioned russian activity. but it's a game of cat-and-mouse. if a newly registered latvian or moldovan shell corporation provides you a fresh BTC address for payment, what's going to stop that money from being funneled to sanctioned entities? I doubt anyone in that space knows very much about crypto, or if, like North Korea supposedly trying to bypass sanctions by hacking Bitcoin, their knowledge is misguided. i thought the idea was that north korea was attempting to hack south korean exchanges and services to accumulate bitcoin, which could then be used to circumvent sanctions. how is this so different than marijuana companies in the US turning to bitcoin because of their inability to get reliable banking partners? sanctions are largely enforced at the level of financial institutions.
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I just received info that my code doesn't work. and there is this note on affiliate page: [Disabled for new signups]
so either signups are stopped or code from unverified users doesnt work anymore. i didnt see anannouncement about that though
i can't verify at the moment (no vpn), but it looks like bitfinex is now requiring "invitation codes" from existing users in order to register. the last time i saw this kind of policy was in torrenting communities for pirating media/software! pretty weird, and kind of off-putting. there's been no announcement from bitfinex. it's not clear whether all new signups are disabled or if (like you said) it's a matter of verified vs. unverified users. seeing multiple threads like this pop up today: https://bitcointalk.org/index.php?topic=2610576.0and hundreds of posts on their reddit about it: https://www.reddit.com/r/bitfinex/comments/7knsee/bitfinex_invitation_code/also, PSA which may or may not be related: chris ellis (bitfinex employee) used to have warrant canaries displayed on his profile. they're gone.
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In any case, even G20 decides to regulate Bitcoin or prohibit it, still will be free countries where you can mine it, exchange, use it, etc. Switzerland is an example.
for now. we have to approach this realistically: bitcoin is unprecedented and experimental. nobody knows for sure that its incentives are viable in the long term. for years, i believe most governments either assumed that it wasn't viable or viewed it as a curiosity to be regulated as needed. even now, the narrative is that bitcoin could be a legitimate commodity like gold, traded on the world markets alongside traditional assets. but what if bitcoin is truly an existential threat to nation-states and their monetary sovereignty, as many bitcoiners believe? if this threat were to begin manifesting, isn't the inevitable response of governments to prohibit all things cryptocurrency? switzerland included.
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Fees are a bitch for everyone, but I'm guessing that many of the high fee screamers are people who gathered a shit ton of dust from sig campaigns, faucets and trading and only now figured out that's it data not value that costs. spam attacks aside---more than anything, i'm annoyed by bad fee estimation algos and political games. bitmex recommending upwards of 0.003 BTC to withdraw? unbelievable! most wallets defaulting to the highest possible fee, creating massive bottlenecks in fee rates? give me a break! rusty russell (lightning developer) put it best; i'll have to paraphrase. "it's like a toll booth where the toll costs a quarter and everyone is chucking in a $5 bill!" what do you think this does to everyone else's fees? it drives everyone's fees up across the board, and drastically, due to the limited block space.
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There is an advantage to the Bitcoin community if I move my coins into a different wallet. It means that multiple outputs will be consolidated into one tansaction, and this will reduce the size of the unspent coins pool.
reduction of the UTXO set is good for the network, but miners generally don't care about that. they are just rational actors. barring some fear of protocol failure or network split, they do what is best for their wallet. the design must work based purely on incentive/market mechanisms, so the block allocation for free transactions never made sense. there is too large of a disconnect between short term miner incentive and long term incentive to achieve "network good" for that to work. this is why it made sense to incentivize UTXO reduction with segwit (using the witness discount). if the economy transitions to segwit, this should mitigate the incentive to bloat the UTXO set which is built into standard transactions.
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There is nothing bad about regulation of Bitcoin, but it`s hardly possible. I can see they ask to pay some taxes from crypto profits, but regulation? you laugh, but regulation includes the prospect of prohibiting bitcoin mining, bitcoin services and cryptocurrency payments entirely. people laugh and say "that's not possible, derp!" sure, the state can't realistically censor all network traffic on all blockchains in their jurisdiction. but as eric voskuil eloquently points out: how do you think things will unfold once the global ban on mining and transacting in Bitcoin takes hold? A hash power drop to almost nothing, all online exchanges, web wallets, meatspace merchants, merchant services/APIs and bank interactions shuttered. let's be realistic. the internet doesn't run on decentralized mesh networks. businesses with global reach and massive mainstream growth potential =/= banking pariahs (like bitfinex) set up in the BVI or antigua. bitcoin exchanges, merchants/payment processors, wallet services, etc. are highly dependent on favorable regulation. the lack thereof means shuttering their businesses or setting up shop in pariah countries (limiting growth). a global ban on mining could cripple the hash rate, threatening the network's security. voskuil went on to discuss how the state's inability to destroy bitcoin is not enough to guarantee its relevance and mainstream adoption: Like gold, bitcoin cannot be eliminated. But despite its existence the people of the world (including Indians) primarily use state money. The seizure of gold and outlawing of its contracting in the US was quite a successful operation. Those who used gold became black market.
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