I always use Kraken exchange for my cash outs.. It is one of the most reliable exchanges out there with a solid reputation. In addition it only charges the trading fees and you get the market price for your coins.
When withdrawing they charge a very small fee for a SEPA withdrawel, atleast in the EU. I don't think you can get it much cheaper than this method anywhere.
Unless you are ofcourse willing to go and trade it face to face with someone, than you might even be able to make a premium on your coins by charging the buyer over market price, but this involves a small risk and takes way more time. So unless you are willing to do something like that, I'd use Kraken.
Finally, in the Netherlands we have services like bitonic that allow buying and selling of you coins directly through your debit account. If you are selling you just send the coins and within a few days you have the cash. This does cost a few % on market price though, so I wouldn't recommend it unless you need the cash desperately.
This. If you are in Europe, use Kraken's SEPA withdrawal. The fee is minimal, something like 9 cents. If you are in the US, use Coinbase or Circle. |
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You might want to try Hyperstake as well - staking after 8 days, and the price holds up surprisingly well.
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I don' get it, why should demand for bitcoin increase because of this?
The last time there was a halving, it coincided with BTC going mainstream and there was a price boost. Some people think the price boost was down to the halvening instead of because of discovery by the mainstream media. Before people dive in, take a look at what happened to litecoin during it's halvening last year. There was a pump as some speculators tried to lure halvening believers into buying, but then there was an almighty dump. The price is now about where it was before the shenanigans. |
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http://www.coindesk.com/bitcoin-remains-most-popular-digital-currency-on-dark-web/Two professors at the Department of War Studies at King’s College London have published the results of their deep dive into The Onion Router, or Tor, network, which is designed to make it difficult to track the activity of online users.
The study found that websites offered illicit goods and services in 12 categories, including finance, and that bitcoin was still the digital currency of choice for conducting a wide range of other transactions.
“Bitcoin is the most common currency employed in all Tor hidden-services trade,” wrote Daniel Moore, a cyber-threat intelligence engineer in the Department of War Studies.
The report, "Cryptopolitik and the Darknet,” which appeared in the February-March edition of Survival: Global Politics and Strategy, analyzed about 300,000 web addresses, identifying 5,205 live websites, out of which 2,723 were classified as illicit with a “high degree of confidence.”
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Two options now: Either push through 5 cent/kW/h while investing in new, more efficient hardware or pick up profits and move location. Sad that it has come down to this, but electric companies saw a way to profit... Now miners just got to pressure them and end with their profiting plans.
Yes. Moving of course means that western involvement in mining becomes less and less over time... |
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http://www.coindesk.com/bitcoin-miners-public-utility-spar-over-electrical-costs/"We feel like it's a bait and switch."
That's Michael Cao, CEO of bitcoin mining firm ZoomHash, one of a number of bitcoin miners currently involved in a months-long dispute over power costs with a public utility provider in Chelan County, Washington.
Cao isn't alone. Other bitcoin miners in the region say they were drawn by promises of cheap power, a circumstance that's now subject to possible change.
...A moratorium on high-density load customers, which includes bitcoin mining firms, has been in place since December 2014 and is set to expire in October, by which time the PUD intends to have a rate increase plan firmly in place.
The utility is currently weighing a plan to raise rates for customers that use more than 250 kilowatt-hours per square foot or more annually, a move that would include the power-hungry bitcoin mines in Chelan. This would mean a power cost of roughly five cents per kilowatt hour, or about double what they pay now.
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12% interest falls into the Too Good To Be True category.
In order for someone to pay you interest, they need to be able to generate that money. Does their website say how they do it?
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Bitcoin is not ready for adoption by the masses, it is not yet capable of handling the transaction volume of VISA. May never be able to or need to either. Since there are hoops to jump through to buy bitcoin and convert back to fiat, it is also missing the killer app that would make bitcoin a household word and greatly desired by the average consumer.
This. At the moment, to use BTC you need to plan ahead - send money in advance to gyft or purse.io. and then wait forever till the transaction appears and gets confirmed, and only then use it. With hindsight, it was a mistake to make the blocks 10 minutes apart. If they were 30 seconds apart, all BTC's problems would be solved. |
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The old halving coincided with mainstream society discovering BTC - so it is not clear whether it was the halving that increased the price or the discovery.
It's worth noting that when alts halve (eg litecoin, doge) there is not really much of a price movement, despite various people trying to pump them around the halving date.
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i can't belive people are actually this stupid
You must be referring to all the people in this thread that responded to this obvious troll. In the end it turns out he failed miserably at his attempt to troll as it backfired on him. Timeline: Pick a ATH (at the time) point of ETH to post "I mortgaged my house, was I stupid thread" to suck in people. Goal was expecting humongous dump so he could emphasis why investing in ETH was bad because of his made up scenario. A few days later when big dump did not happen as expected, post again while price is lower that he was now nervous. Also fake wife post jumps on and says I am worried, should I leave my idiot husband because of this. The troller disappointed the big move didn't come yet, but was playing on the slight downtrend, thinking the big one was yet to come. Third post indicating his investment is working out. Probably needing to admit the obvious, but stills secretly hoping for big crash to be able to pull off the big troll. Finally realizing this attempt backfired terribly, and if someone had followed this route and mortgaged their house, they would actually be in handsome profit, tries to gracefully exit the obvious fail troll attempt while also trying to get some troll points in for claiming he helped the recent correction by cashing out. Sound about right? Nailed it. ETH has a professional team promoting it. At the start of Feb a huge amount of private messages went out to anyone who had ever posted on the bitcoin subreddit, shilling for ETH. The aim was to alert people to a coin that they hadn't heard of before. Then the pump actually happened, and people thought, wait, I think I've heard of that coin - and of course they had, through all the spam messages. It's sort of brilliant in a way in that it succeeded in raising awareness, even while people were irritated at receiving spam. |
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The thing is Spoetnik, the market cap of alts is continuing to grow. How do you account for that? I know that I've started to use Doge to move coins from exchange to exchange instead of BTC due to transaction delays. I can't be the only one finding an actual use for alts because BTC is falling down.
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Well in case some didn't knew, Sweden was the first cashless country since past 4 or 5 months (IIRC) and they haven't suffer any problem so far and the route for other countries is surely the same, it's just the matter of when it will happen. Some say cash is good and they could leave without the need of other monetary systems like credit/debit which is connected to banks and online options like BTCitcoin. We can't hold too much of cash at our hand or disposal but we could have them saved on either banks or in our BTCitcoin wallets (no matter how large the amount). Some sited that the poor people would be the ones who will suffer the most for this evolution but surely there will be a way for them as well although it's not going to be a smooth one. We never know, maybe in the near future, every single person will have a single card (regardless of being rich or poor) and all their wealth automatically stores there (still long way though) or even some sort of genetics wallet, connected to someones genes only.
Surely it's expensive for retailers though? The VISA network charges vendors up to 5% of the transaction. Whereas when you accept cash there is no cost. Shifting to a cashless system would cost retailers 5% of their sales -which they would pass on to their customers. Have prices risen in Sweden since they implemented this? |
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"(I’ve been working on bitcoin’s design) since 2007. At some point I became convinced there was a way to do this without any trust required at all and couldn’t resist to keep thinking about it." ~Satoshi On March 31, 2016 this community will take back control of our beloved Bitcoin!Let's get started: How do we do it?  I think the OP is asking for suggestions cause he hasnt got any, hence the "How do we do it?" question. But why March 31 2016? What is the significance of that date? A Mayan prophecy or something out of Nostradamus? |
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Litecoin is struggling though. For a long time it was the #2 coin. Now it's #3 behind Ethereum.
It's true that some exchanges use it as a trading pair. But the biggest alt exchange, Poloniex, uses Monero as it's second pair instead. The only reason LTC hasn't died yet is because of the Chinese exchanges.
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The whole thing is designed to price out start-ups, and when there are none, some of the old-school Wall Street firms will step in as regulated bitcoin operators.
Monopolies tend to use expensive barriers to entry to prevent new entrants - I wouldn't be surprised if BitLicence was introduced because Wall Street lobbied for it.
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It's our fault this has happened. Hands up those who use credit cards simply to get cashback (which is a small rebate on the fee VISA charges the vendor)? We did this. Once the majority are using cards, it's easy for govts to argue, "why not scrap cash, it is expensive to print it and no-one uses it".
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See https://reason.com/blog/2016/03/20/bitlicense-bitcoin-lawsky-red-tapeIn June 2015, the New York State Department of Financial Services (NYDFS) established a new regulatory process for firms working in the cryptocurrency space. Applying for a so-called BitLicense involved submitting reams of paperwork, hiring expensive attorneys, and onerous reporting requirements. Critics said the process would put an enormous burden on small startups, and indeed many firms responded to the new regulation by announcing that they were no longer serving customers in the Empire State.
The NYDFS has only issued one BitLicense under the regulatory framework, which it provided to bitcoin services firm Circle in September 2015.
According to figures provided to CoinDesk by the NYDFS, this means as many as 21 industry startups are now operating under the BitLicense's safe harbor provision, but waiting for a formal confirmation that they are licensed bitcoin services providers in New York.
Even some of the industry’s more well-funded applicants, such as bitcoin exchange Coinbase and bitcoin storage specialist Xapo, indicated that their applications are still being processed. |
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I have been around the Bitcoin area for quite some time but never really delved into investing in it up until recently.. I see there are alot of ways people are making there profit but I would like to make mine through trading but just dont understand it much.. any help or advice on how to start making it somewhere with BTC is greatly appreciated
buy low, sell high, repeat  If it was that easy everyone on this forum would be a millionaire. To the OP - people are reluctant to reveal their successful trading strategies, because by definition, if everyone is doing them, they cease to work. I'd advise to you experiment with about a dollar's worth of coins, and use trial and error to see what works. If you lose money, it's only a dollar and you'll have learnt something in the process. |
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Guys, So far nobody mentioned some major (security) flaw in PoS coins. If you create enough demand on a PoS coin, nobody will care about people with larger wallets. Let's face it - most of the people are with weak hands. Example: There is a cryptocurrency with 20M in supply, 1-2% yearly interest and a guy who invested 5-10 BTC to buy 25-50% of the entire currency @ the price of ~50-100 satoshi. If that currency becomes viral, then the price may be 1k satoshi or even 100k. Do you think this guy will hold all of his coins? He will most likely sell them, when he sees x5 - x10 profit. Then you have another guy who bought the coins of the first guy, but the price is now 500-1000 satoshi and he invested 25-50 BTC. The currency becomes even more viral and the price is now 5k satoshi. Second guy sells half of his coins with profit and holds the rest. After some time, price is now 10-15k satoshi. Second guy is out and there is a 3rd guy (whale), but with less % of the currency. I think you guys get my idea. Most of the people are here for the fiat money they can earn and they don't care about the technology and about how cryptocurrencies may be used in the real world. If you manage to make a cryptocurrency viral (were 10s and even 100s of thousands people are using it), then you will not worry about N@S problems and such, because at this point, there will be not 100-500 wallets, but 10s of thousands. You still can buy bigger % of the currency, but at this point you will need millions of $ for that. That's something, which only serious investor can do and serious investors are not f*cking with their investments.  But every time the coins are sold the number of wallets doing the staking increases. The more wallets staking, the safer the network. There is no incentive to run a full node in BTC because you have a cost but no reward. But there is plenty of reward for PoS holders. As far as I can tell, the only PoS coin that has gone wrong is Clams - so much is held by JustDice, who stake them, that the difficulty has gone through the roof and it's pointless any one else staking. But those types of flaws are easy to solve with some velocity in the coin, or limiting the ageing required to stake. |
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Do you make much money trading off TA? If everyone is looking at the same patterns, do they become a self-fulfilling prophecy or do they get competed away?
What I'm trying to ask is, is this more profitable than a buy and hold strategy?
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