The number of scammers is so high that the profits from lending on sites like BTCJam is negligible.

Furthermore, many of these sites denominate their loans in USD, meaning that Bitcoin's growth exceeds the profit of the loan, and minus the chance of scammers you're looking at a pretty decent negative number.

The only profitable way to lend Bitcoin is to margin lend on sites like Poloniex, but considering how unreliable Bitcoin and altcoin exchanges are it might not even be worth it for ten percent or so per year with a lot of work.

There are plenty of more profitable investments than that - like casino bankroll investments.

Bitcoin's price won't consistently rise too quick for the difficulty to keep up.  As the price keeps rising, people will decide that mining is more profitable and who will they turn to first?  Bitmain.  Just because everyone else does it - like a herd of sheep really.

Bitmain's monopoly is so significant that to usurp their position would take thousands and thousands of Bitcoin in marketing and even more working on efficiency in a fairly marginal market.

Even worse - because of this, any company who can afford to create a machine better than Bitmain's (and it would have to be quite a bit better) would be evil themselves, and thus the effort to decentralise the market wouldn't be as helpful as we'd think at first at all.

A lot of people are building Bitcoin Core alternatives.  Most of them are crap, and Craig Wright's one will be a hundred times worse (not that I would trust it even if it was good).

There's never more buyers than sellers, there's always an equal amount.  To buy Bitcoin you have to have bought it from someone.  What you really mean is that people are willing to buy it for more.

None.

Bitcoin is a tiny, tiny market.  A few hundred million dollars (I know it sounds like a lot, but in market terms it's not) would shove the price up thousands.  Relative to the population at large, nearly no one owns Bitcoin and for now that's how it will continue to be.

They would lose money from sending loads of spam transactions actually.  It would be removing the profit that they would make from receiving transaction fees (with spam transactions, the transaction fees are their own money).

Sounds like an exaggeration.  Bitcoin still represents a tiny, tiny amount of actual money in Japan and around the world.

Japan is quite a technology-centered country and Bitcoin is on its way, but it'll take a long time before real adoption is happening.

YoBit is the worst exchange about and loads of people don't actually get their withdrawals from the shitcoins they put on there.  I'm not sure they're even fully solvent.

Poloniex and Bittrex are your main options.  Kraken isn't really too good as an altcoin exchange.

You're basically just telling him to do everything.  The market is in a weird state where reason and fundamentals mean nothing.  Buying and selling, unless you're an extremely good analyst, is not going to help.

I say just HODL.

It's more likely that there will be many who regret not selling.  Altcoins often have sections of going up and down, it's just that this one is more dramatic than before.  Some of the altcoins like ETH and Monero will stick around, but plenty of those altcoins are going right back down again.

All that's needed is a change of currency.  Zimbabwe's hyperinflation led to them using the US dollar instead - that could be interpreted as "financial aid" even if it's not literally giving them money.  If you believe that capitalist societies in crisis should be given financial aid, so should socialist ones - otherwise your judgement of socialism is unreasonable.

Not to mention that elections never represent the will of an entire nation, they represent a small majority of people who decided to vote.

If this rate of price rises right now were sustainable, the Bitcoin price would be several thousand by the end of the year.  It's not likely at all and there will be dramatic price fluctuations.  However, we will remain in a bull market for the rest of the year at least due to increasing mainstream media coverage - they could even phrase it like the "return" of Bitcoin since the unnecessary hype in 2013.

I think it's because Bitcoin users have got a reality check about its use in real life transactions and the practicality of PoW mining.  Cryptocurrency needs a lot of innovation before it can be used in the mainstream to such a ridiculous price, and Bitcoin could only get that far as "digital gold" after a long time unless there's a new mining system which is properly decentralised.  Ethereum and other coins are really not good enough yet either which is why people haven't all migrated down there.

No one said what they have to do.  Actually, very few companies are obliged to provide the kind of customer service that they do, it's just that they have an economic incentive to provide the service - that no one will buy feeling insecure.

Bitmain is a weird exception since they have such a huge monopoly that there aren't enough good alternatives so they can get away with screwing everyone over.  No one should be buying from them by this point, they're a cancer to Bitcoin.

Retailers don't accept Litecoin or Ether either, and very few accept Bitcoin.  No cryptocurrency will have its price based on its utility, ever.  Their price is only based on the money that people hold in them, and utility is part of the reason why people hold money in it but they don't just put it in, spend it and be done with it.  People also don't only hold money in PayPal that they're spending that second.

And yes, it's daily price changes.

IMO you'll only have proven that you're getting the money legitimately when you're provably running the service at an overall loss (when you'd paid out more profits than you've received in deposits consistently).  HYIP admins run them for a long time sometimes but they still end up with a gain overall themselves.

I somewhat trust you right now, but I still view this as a high risk investment for now

Coinbase and Kraken have been having glitches, Bitfinex and OKCoin are screwed and even Bitstamp had a hack a while ago.  Exchanges in general are terrifying and the price is becoming questionable.

I've sent some more Bitcoin into this.

ID: https://blockchain.info/tx/dbb1cac58d14418f3e3df64590995e1e716f802586eb8af9cdcdfe197391d5c7

Thanks OP.

The West are never labeled invaders for providing financial aid.  They're only labeled invaders (correctly) for trying to intervene in civil wars which don't concern them.

The syntax of the sentence is terrible as well.  It implies that Satoshi Nakamoto is the subject and therefore that he is the "alleged" Bitcoin founder.

Craig Wright, however, obviously isn't as it's really not that hard to prove you're satoshi if you are.  Journalists reporting it don't care whether or not he's satoshi as long as they can drag a good story out of it.  Craig Wright is a lunatic and if he's involved in it you can be pretty confident it's a bad idea.

I don't think you know what he's discussing.  He means the rates for the site LocalBitcoins.com, which is a peer-to-peer exchange.

The reason is very simple OP:  it's much harder for people to work with LocalBitcoins than to work on exchanges.  The premium is just the value of going outside to somewhere where another person meets you and manually waiting there for the transfer, along with the difficulty of selling and buying at times which are potentially inconvenient for you because it can take a long time to find a partner and the very high possibility of someone scamming you.