Such big corrections which are initiated by whales are often a great chance to buy BTC cheap
Although it may be the whales trying to manipulate the market, it may also be a major correction happened because of the price being idle at $10k. We have seen in the history of bitcoin that whenever bitcoin stays at a particular price for a long time, a major correction has occured followed by a bull run. |
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They say that the charts never lie but the charts have actually failed several other times. So in a way, the charts do lie.
We cannot completely depend on it and make predictions on arbitrary numbers. $16k for October is not an easy target considering the recent fall in the price of bitcoin.
There are good chances that the price might fall further down and if it does then $16k would just be a dream in October. I think it will at least take a few months until we reach $16k target.
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Bitcoin's price has dropped significanty, and there is a great deal of FUD and pessimism in the market. The Fear and Greed index is at 12 today https://alternative.me/crypto/fear-and-greed-index/ - close to as low as it has ever been. Strangley or not though, I'm not worried. For me this just seems like part of the plan. I'm not interested in wha the price of Bitcoin is today, this week, this month, or this year. I'm interested in what the price of Bitcoin is going to be in 2, 3, 5, 10 years time. This could be a great buying opportunity for additional accumulation (not advice). The majority of sentiment on this forum seems to be positive, but I am seeing some uncertainty. So it would be good to ask people - Are You Scared or Worried? And what worries you? Or why are you confident?Am I scare or worried ? Nah man I am over this shit. I have seen times when bitcoin actually went down the drain and many lost hopes from it yet it survived and is standing where it is today. So I am kinda confident that whatever the reason be for bitcoin going down, it will bounce bank sooner or later. I am just holding on to my coins while enjoying the journey. |
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I have been getting to know much about Philippines these days. They have been involving much in bitcoin.
It's good to know that it has been such a good supporter of bitcoin while many other countries are going against it.
Good to see Philippines is promoting bitcoin at such a huge level.
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While I have not seen any scammer return bitcoins to the victim, I have actually read an article where a thief stole money from an old lady and returned it to her.
The old lady was withdrawing money from an ATM and the thief was waiting outside the ATM just when the lady got the money the thief barged in stole the money from her.
Just when he snatched the money, he looked in the ATM to find out the low balance of lady and then he returned the money to the lady left.
He was caught by the cops though since the incident was captured on CCTV.
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According to me technical analysis works well only when the system has equivalently distributed the amount of money which in this case has not happened since most of the money is being held by the whales.
Any whale can easily manipulate the market and may be he has been doing it all this while. So depending on technical analysis is probably the worst thing to do in crypto.
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The post was indeed good and informative but it was too long to read. So long that I skipped most of the part to reach the bottom of the post.
OP could have been formatted in a much better way though. Thumbs up for the informative post.
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 1. Hasrate has recovered. Was it the buyer of the equipment, who switched the machines on again? 2. For every seller, there is a buyer. Never forget... To verify my theory the hash rate should stay down, and as you say, it has recovered, so, this proves my theory it's wrong. I was trying to find a relation between the hash rate drop and the price crash, but looks like they were two different things. On this point, no one can explain the hash drop or the price crash. Only time will tell us who was behind it. Good that you acknowledge the fact that the hash rate and the price crash are not dependent on each other. While BAKKT 'may' be the reason behind the crash, it's not certain until we get the confirmation for the same. It might be that the whales are trying to manipulate the market or it may just be a price correction since the price was at $10k for a long time. Time will tell us what had actually happened. |
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According to me, even if what you said is true it won't make much of a difference since bitcoin is more of an online payment method.
The world itself is going for digitization by providing various means of online payments. Hence increasing the number of ATMs won't increase bitcoin utilization much.
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And how do we know what is my trade volume ? I mean i sometimes uses local bitcoins to buy and sell btc and i do not have a proper business setup there where i buy for less and sell at high. So for people like me , tier 0 will be enough ?
Yes indeed. I myself never trade more than 1000 euros a year on Localbitcoins since I have other mediums to withdraw the money. So it won't make a difference for people like us whose trading volume is less than 1000 euros. We won't need to provide any verification of such sort. |
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I think the main cause of a $20,000 bull run would be the collapse of the Indian rupee
The collapse of INR won't make as huge difference as the collapse USD would. I usually don't do this but I just thought of doing it anyway.  |
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The last time I heard about it I got to know that there is no Indian developer who is working with the bitcoin core developers.
So I am not sure if what you said is actually true. Could you provide more details on this if possible ? Like a discussion thread or something.
I frequently visit the bitcoin core github, but I have never seen any Indian contributing to core or neither testing the core. But recently I found that, there are developers of Indian decent (not sure if they live in India) who has recently worked with sipa in the Miniscript project. For enthusiast who are not aware of what Miniscript does to the bitcoin network, they are a language used for implementing smart contracts in bitcoin. So with the language, we can change the way we spend our bitcoin such that like we can change the time at which we spend (in simple understanding terms) etc. You can find more information on Miniscipt in official reference website. The script has been jointly designed by sipa, Andrew Poelstra and Sanket Kanjalkar. Sanket is available in IndiaBits TG group and I have personally spoken with him (friendly and very helpful in clearing my doubts regarding testing the code). You can verify this message from sanket in IndiaBits TG group. Apart from this, I also encountered btcdrak in IndiaBits, though I have never spoken with him nor he is an Indian, but his prescense is in IndiaBits. See this message from btcdrak in IndiaBits TG group. But once the forum grows, the forum will attract spams like any other forum and they should be actively removing such spams.
Right now I guess, Gabru acts both as admin and moderator of the forum. When the forum increases with registration (which might happen when btc finds the limelight in India) there would be additional appointment of moderators I guess. Apart from that, they also have badges similar to Bitcointalk where the user would be able to earn them only after certain activities. Another problem with bitcointalk is the incentive to posting. This was the sole reason for the increasing amount of spams, but that wouldn't happen with IndiaBits or if it happens on bad cases, mods would take care of it. Thanks for the info. Good to know there are people like Sanket in India who are actually doing something good for the community unlike many others who waste their time watching shit series, movies, games etc.. Not that I don't like it but it shouldn't be consuming much of our time and we have to do something important in our life. |
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I am close to your age, and it's definitely not the age to worry about dying, even though it is often coming to mind. Firstly, if you're accumulating your BTC, you should have a plan for them. Simply accumulating them seems useless to me, because they are worth nothing if you never spend them, right? As for the question about who should receive the money, mine would go to my spouse and children. You're saying kids should learn how to earn their own money, but I don't think it's fair. It's natural to help children find direction, profession, job and support them financially until some time, at least, so that they have resources to educate themselves/do an internship/volunteer before finding a well-paying job.
Yeah you are probably right. Not everybody gets the same opportunities. I am glad my parents educated us enough that I am writing this post today. I consider this a big deal. So yeah, I will make sure I give my children better opportunities than myself so that they can create a better future for themselves. And I am not at all worried about dying since it has to happen at some time, I am just preparing for that time well in advance because you never know what tomorrow might bring us. |
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I am in mid 20's and holding and accumulating as much BTC as I can. I try to save a small amount of bitcoins every month so that I can do something with it when I retire. But what if something unfortunate happens to me. What should I do 'now' so that the coins can be used for a good purpose in the future by the right person. I know I can hide the instructions to the private key for somebody to take it in the future. But my question is whom should I give it to ? I do not want to give it to my relatives or children since I want them to earn on their own and never depend on others money. I know I can donate it to charity but what's the guarantee that the money will be gone into good hands and will be used for the right purpose ? Are there any options that you guys think of ? Have you guys thought about such a scenario ? Edit 1: You can donate to any FOSS foundation that takes bitcoin if you prefer that.
This guy deserves some merits. This is the best answer I have read in all the posts. What's the best I can do with my bitcoins ? Bitcoin is open source so why the hell not donate the money to the open source community itself. Second best option is to use the money for family medications in the future. May be using the money for health insurance of my family or creating a will to use the money when my family is in need of medications. |
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Such news are spreading in the community just because the year end is near and it's time for FUD and FOMO to spread and create a bull trap.
Stay awake! Be aware!
Don't fall for something that you would regret later.
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That's just a FOMO. Do not believe in what others predict speculate . Believe in the tech and then may be the price will cross those numbers for real.
It will take a really long time for bitcoin to actually go to that level.
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The existence for bitcoin mixers or any cryptocurrency mixers is really hard. The primary factor being that they are always in the eyes of governments and higher authorities.
For mixers to survive they will have to be regulated by central bodies which will then in turn destroy their purpose of anonymity and privacy.
So yeah, I think they will have to be run illegaly and will be considered illegal by the governments.
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Honestly speaking, I have never encountered a phishing attack. Even if I would have then I am quite sure I would have figured it out that it was a phishing site.
I do keep reading the news to find out that so many people get scammed by phishing sites. Either the people must be really dumb or the scammer must have developed the phishing really well.
Anyway, it's good to know that somewhere in the world, people are actually doing their jobs well and catching these scammers and punishing them for the same.
It's always good to find out that bad people get punished for what they have done.
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~snip
PS: I agree that i took a swipe on you because your statement about Theymos seemed ill-placed.
Be easy on him bro.  As he said, he was in a party mood and had a few beers on  when i wrote this i was on a party mood and had a few beers. LOL, I can't even read posts on bitcointalk while I am high. Tried it twice. |
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The forum looks pretty decent to me as it was just created half a month ago. I would still prefer to use it a little later when the forum is a little more established. Isn't it great and proud to know when a Indian is working with core developers? The last time I heard about it I got to know that there is no Indian developer who is working with the bitcoin core developers. So I am not sure if what you said is actually true. Could you provide more details on this if possible ? Like a discussion thread or something. |
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