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He obviously was made an example. They were trying to scare other potential hackers and black market entrepreneurs.
He was guilty of running a drug marketplace, knew this was against the law and did it anyway because it was a great business. We all understand that. He got caught and should do time like people who run drug operations. 15 years would be a high sentence for such a young man with no priors, but he got life instead, like a mass murderer. US justice system is a joke.
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The main part of the system is nt record keeping. The greatest weak point is that law is too complex and there are many loopholes. Processes can take years and still not manage to reach a conclusion. I'm sure that blockchain would allow for a much better confidential communication between parties but it will not give us what we need: simple law.
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If one is banned why the other also will be banned as long as he is not doing any thing wrong.
And as they are not one person.
Because there's no way to tell if it's one or more people. The only thing that allows mods to pick you from the crowd of thousands of accounts is your IP. Ban evasion is prosecuted by staff and how are they going to know if it's you evading or it's someone who came into your house to browse the net and happened to create a bitcointalk account? Put yourself in their shoes and you'll answer your own question. |
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The majority now thinks that capitulation was at 5800 and this sideways market is a consolidation. Of course when the majority thinks something it doesn't mean that it is so. In April people were certain it's over and we're on a rocket to the moon. That rocket couldn't pass 10000 and we were free falling back down. At that point the majority thought we're going to break lower and stop somewhere around 5000 but we didn't. This is why I have a huge degree of skepticism when reading predictions by analysts like Tom Lee who was telling us to buy back at 14000 because it was going to be right back to 20.
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I've started to see the hype forming myself. I have a few friends that are starting to buy bitcoin while the price is still cheap, they are confident it will be back over 20k within a short time.
Don't ever to expect Bitcoin price will turn back into $20K again as it hype last year. We already saw green color on the market and prices seems to quietly moving up but isn't enough to say that it is on hype. Usually people treat market as turning bull when the price rallies by 20% and the other way round a 20% loss in a short time means the bear market is coming. For the price to be considered bullish we'd have to go to 8500 dollars. Anything below will not be a clear indicator and can be a continuation of the previous bear pattern. |
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The difficulty will adjust so there will always be miners turning a profit. The residential miners that pay high electricity rates will be the first to shut down. But even though the price has gone down from January the difficulty has actually risen so this doesn't always hold true.
It will adjust but it will take some time. They are already operating on very low profitability hoping for a bounce back and if it goes down they will have to sell at a loss to cover their bills. Last time something like that happened in 2014 when people were hoping for the end of bear market and after a year of low profitability the price went even lower in 2015 leveling the playing field. |
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I think that it will. There's a lot going on and even banks are interested in blockchain. ETFs are coming, poor countries are seeing a surge in bitcoin trading and lightning network is developing really fast. I think that 10000 will eventually happen it simply has to. Be patient because it will take some time. Some people are predicting bull market to start this year but it's a matter of expectations vs reality.
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It's funny that the candles were so big when they bought the coins and later there were only a few small candles and the price is almost back to where it started. In other words it looks like some capital moved out of the exchanges so that when they bought they ate a lot of sell orders but at the same time some buy orders disappeared lowering the market depth.
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I don't agree with you OP. I didn't know a thing about cryptocurrencies and decided to read about them and invest in 2017. It proved to be a great choice and I very quickly went from small to huge value. In short, in 2017 I had enough money to buy a cheap used car and a year later I had enough to buy an apartment. To me it was a sudden huge step. I know people who became very rich in short time and didn't need to climb any ladders to do so.
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not sure but this is the first time I have heard about mBTC, I think satoshi is more popular unit and you should use this. This is the smallest unit of BTC
Then you should download an electrum wallet onto your phone. It uses mbtc by default. Really, mbtc is very popular because it allows you for much easier small payments that normally would require you to type in 0.0002 or something similar each time you're sending money. I think that Bitcoin is still not valuable enough for ust to have to use satoshis but it may be one day. |
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The downside of the cryptocurrency will be its volatility. The World can't have a currency with a value that changes from time to time. It will affect the Economy and that kind of currency will not stay long. I think this is the major downside of the cryptocurrency.
Volatility isn't permanent. One of the main factors contributing to it is distribution. Big currencies like the dollar are more stable because they're distributed among millions of people. At least 300 million people use the dollar every day. How many people own Bitcoins? It's hard to say but much less. How many people use Bitcoin every day? It would be great even if it was 3 million. If we went to 30 the volatility would be 10 times lower. |
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And I think that we won't recover this year. There are predictions by some popular traders that we'll go to 10000 this year but I just don't see it happening. Some wise man I don't remember who said that this market will require a catalyst to move and thys can be the ETF approval. So if it happens to be in spring 2019 we can expect the next bull market to start there.
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Yes there's 99% chance that bitcoin reaches atleast $10,000
But no one knows when...
There is 99,99% chance that bitcoin reaches at least $50,000 and stays above $20,000 ... in less than 3 years If only more people thought the way you do we would be back in bull market. The problem is that most people are this strange state where they wait for others to buy in first and give them a sign. There's a lot of money waiting to join the rally but nobody wants to be the first. |
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We keep hearing about all time highs in Iran and Venezuela and somehow the price of Bitcoin worldwide is still low and doesn't rally at all. The price can be high on some exchanges but if the volume is low it will not impact Bitcoin at all. If somebody somewhere buys 10 Bitcoins for 50000 USD each it won't change anything.
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I suggest to keep holding, because the end of the year is very close and maybe the price of bitcoin will be much better than now. many people believe the price of bitcoin will be pumped by the end of the year.
The end of the year has nothing to do with pumps. I know that in 2013 and 2017 both huge pumps happened in December but it's not a rule of any kind. If a car hits you in front of your house it doesn't mean that it will happen again next year. I think that we'll have to wait for the SEC approval before another rally begins. |
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I've started to see the hype forming myself. I have a few friends that are starting to buy bitcoin while the price is still cheap, they are confident it will be back over 20k within a short time.
Ask them if they have some diapers and painkillers stocked up.  Right now im 50/50 on things.
On one hand, I believe we've already bottomed, and we are not going to break below the $6k resistance line, and if we do, it will be a quick dip as usual, only to get bought up thus strengthening the cost of production theory. So worst case scenario, we stay at a stable price for a long time until next FOMO cycle to $100k+. All these guys predicting lower prices with their TA get proven wrong once again (just like the were wrong when calling lower peaks than $20k)
On the other hand, I feel like there's still too many noobs holding coins which may need to get triggered into panic selling before we can stat shooting for the next ATH. This may include someone famous rage quitting as well, which would mark the end of the bear market.
There were attempts at causing panic. If you analyse the charts you will see these short dumps by whales meant to liquidate newbies. They are always followed by a big buyback. It did not work and they seem to have allowed the things to unfold on their own. This month there will be another attempt for sure. |
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The bear market has a long way to go.
Why do you think so? It is becoming the norm that most users are whining the situation market. It's really annoying in my opinion. Why would anyone expect the market to be parabolic? It's too good to be true. We should respect the volatility in the cryptocurrencies market.
If you look at the market since 2010 we are already in a parabolic growth. Years from now nobody will care about a 5% drop in price in September or any other ridiculous thing like that. We will be above the current all time high and this is what people will talk about. |
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It's still not likely to be accepted considering the extreme volatility and potential market manipulation it is being subjected to. Either way, the current market conditions put very little weight on positive news, and a lot of weight on negative news. Hence why small FUDs cause big dips, and great news leads to only minor gains. Until we get out of this state of hypersensitivity, we're not going to see much growth.
It's the same with futures. They are subject to extreme volatility and yet we have futures being approved and regulated. ETFs were well thought over by companies and their lawyers and these are not newbies. They are managing millions of dollars every day so they know what they're doing and they know the SEC will have to accept their project. It's only a matter of time. |
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I think the only advantage of the current crypto market is to by more stock because very soon the market is going to recover bank and you stand to make good gains from your portfolio.
It's true. After a 70% drop and a period of capitulation there is always an uptrend. If you have money lying around and doing nothing on a 1% savings account you can always try Bitcoin. With its high volatility that results in huge yearly swings it's going to go up for sure. The problem for many is that it can also temporarily go down but if you have the nerves you will be rewarded. |
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There was actually a slight decrease in q4 2014.
This bear trend resembles 2014 more than the bullish years.
The price Q4 2014 went from about $320 to $313. A 3% drop over the quarter. It then kept falling in January.
This is a post crash year. If the trend repeats, we get one bad quarter and then three good ones.
Now whether the patter repeats or not is a completely different argument and I can't think of the many factors that play into this. Perhaps people need 365 days to forget a crash and all the negativity?
I don't know.
There is another way to look at it however. Out of the last 4 years in 3 out of 4 bitcoin increased over Q4.
Good analysis there. I do feel the same somehow, 2018 seems to be a really bearish year and the sight of the bull is nowhere to be found. But as they say, there is really no good nor bad times in bitcoin, all has been progressive so far. But should your prediction be right regarding the bearish season pushing through till next year, giving us a not so pricey 1st quarter 2019 but a bullish next 3 quarters to come afterwards, then i think a lot of people will be happy to endure few months more till that happens. I don't look at this year as another 2014 with 2015 yet to come. If we look at the fundamentals we are in a different setup. 2014 continued in a bearish pattern in 2015 because exchanges were banned in China and 2013 was bullish because of China. The biggest exchanges in the world were in trouble following Gox bankruptcy. There are no fundamental problems now. It's a normal correction. |
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