i am very interested to see all those 162 people who voted "YES" here and said China is controlling bitcoin right now. Chinese exchanges are almost closed down and their prices are pretty low with so little volume right now because of all the restrictions from the banks and the fact that they disabled deposit/withdrawals. so practically they are out of the game. with that in mind we can see that price is still up and still rising higher. so my question from these people is: where is China now!  |
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I don't even see the point.
Only 3 uses to a bank:
-keeping your property safe -> useless if you have your own wallet
-keeping up with inflation through the 2% you'l earn a year -> ridiculous compared to BTC inflation
-having your money accessible at all time through credit card -> digital currency hello?
I think the number 1 reason that you give is probably the reason a bank of bitcoin could happen, if you have some knowledge of computers then securing your coins yourself is very easy but for the average person that only knows how to use instagram and facebook it may be harder and then they may decide to use an additional service for it. but when bitcoin bank offers guaranteed security. precisely wallet offering better terms to provide high security such as authentication and without control by anyone ? no bank can offer you more security than you can achieve on your own while using bitcoin with cold storage. and i strongly disagree with the need to be a computer expert in order to achieve the security. it is not that hard to make a cold storage such as paper wallet and run a wallet on an air-gap system for signing,... and there are lots of walk throughs to read for this. |
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online trading, bitcoin trading, altcoin trading, forex trading
every year only get return 2-3 x or this mean profit and return 100-200% is not big profit
i wish, like you, i could live in a world where 2-3x profit annually on my investment could have been considered "low"! |
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bitcoin and drama are like inseparable twins! from early days drama was a part of the community and it seems like everybody likes it too, the media, users, developers, miners they all seem to like it and join in. and price is just a small part of it all, which is mostly taking effect from the rest. there are too many topics from some simple things such as Who is Satoshi to some more complicated stuff that even bring wars such as the block size debate. so i vote for "not in our lifetime"  |
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What kind of idiot would buy high to sell low? calculate the electricity cost for mining each bitcoin and add %30 to that estimated cost and you have your price. Less electricity cost more profit.
only newbie traders who panic with different news and FUD, buy high and sell low. and you know that whenever it comes to trading, someone has to lose in order for the rest of the traders to win and make profit. there is just no other way. Especially for those newbies are watching the trollbox at the same time, Does it give a lot of the panic feels for the newbies? Yeah most of them will selling caused by FUD from someone else.  Thats why we should not always trust on those person who are on the troll box which always says about the chills about bitcoin price and other price of other alts. Panic selling will surely arise specially to those newbies and they do believe and fall easily. Price of bitcoin is not predictable thats why make it hard to trade with it. the name is perfect: "Troll Box" that should be enough indication for anybody to know what is happening in there. everybody just trolling there, hyping or creating panic to get their own orders filled. although you may find some rare good information on there too. and to be honest i dislike the idea of even having a chat option on an exchange! that is one of the reasons why i like bittrex more, they don't have these types of foolishness. |
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this ETH thing may be big and keeps getting hyped up but it is not even half as big and hyped up as the bitcoin block halving, at least not yet. and the hype has always caused such rises that you are thinking about.
with that said even with a FOMO buys price can not go up to 65% because of what i said.
also as franky1 explained above, this ETF will have indirect effect on bitcoin. and that kind of effect will show itself smaller and i expect it to be also slower.
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when you choose a centralized platform to deal with a decentralized currency that is what you get (by you i mean all of us).
government restrictions, hacks, theft and users losing lots of money have always been a part and parcel of using these exchanges and it has been like this from the first day!
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i don't get it. why is it so hard for people to accept the fact that a bitcoin exchange which is an online service working with fiat needs to follow the fiat rules!
and that is all China or any other country cares about as far as bitcoin "price" is concerned.
no country/government would benefit or lose anything if bitcoin price moves up or down. they all care about certain things: Money laundering through not-regulated bitcoin exchanges and any possible illegal activities using bitcoin. in both cases if price is 1 or 5000 that won't matter.
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What is happening is Chinese traders are don't trust centralized exchanges anymore and lost confidence in 'official' price.
Traders are waiting to see what will happen next, and meanwhile are using Bitfinex to determine bitcoin's price.
They started to trade more on p2p exchange platforms, from what I read they mainly use services like Bitcoinworld and Bitpie.
interesting theory. but i have never heard the names of those 2 platforms you mentioned, and with a quick search i don't think they are that popular. and also mostly because P2P exchange services such as these two are usually with lots of problems and unattractive to traders which makes them unpopular. although OTC trading always pushes people to these platforms i still think localbitcoins (the picture in OP) is the biggest one yet. |
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Nice to see some movement. Let's hope this is a proper leg up. It's about time.
this week has been terrible, all the sideways movements makes bitcoin price a headache. and on top of that you never know when PBoC news is going to start up again and kick bitcoin in the nuts! |
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i still think Openbazaar needs to become more user friendly instead of all these. the TOR support is also more for advanced users not for novice users that may want to use the platform like they use ebay.
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The subject says it all, what books, resources and other things can I study so that I can make an educated decision.
I want to invest, but have no idea where to start and need to learn more about bitcoin and cryptocurrency in general before taking the plunge.
Well I don't know about the books but the source about bitcoin and crypto currency we can find the informations on bitcointalk, I think the informations about digital coins are enough for study. You can find what will be learned, trading, mining, gambling and on here is completes for me. I do strongly agree on what you have said I don't need any ebooks or any other stuff since this forum do really have all the information you will need regarding bitcoin and other alts the information are all in one and incase you do have thing you didn't understand you can simply ask the community which are always ready to help you out. books, ebooks and all other resources that people usually suggest are for basic knowledge about trading and it is a very good idea to start reading these resources as a beginner like OP so that you can know some basics about trading. but after that initial state, yeah you can stop reading these and follow bitcointalk and other information you need. |
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What do you think about the fact that cryptocurrencies will literally be the future ? In a few years, it will exploded and, be rich if we hold many ?
well it depends on what you are calling cryptocurrencies and which one of them you have in mind for holding. many say government is going to create their own cryptocurrency and in the future we may switch to cryptocurrencies instead of cash. in that case there is nothing to hold. but if you have altcoins in mind then again there aren't any worth holding. the only thing remaining is bitcoin. and yes it is worth holding it for a long time and it can rise up a lot but don't expect it to replace fiat or anything like that. |
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Nobody is going to pump Bitcoin while the PBOC still needs to regulate the remaining exchanges.
The price might stay flat for weeks if not months, when the ETF's are disapproved in combination with PBOC regulations Bitcoin is going down for the short-term a $50-$200 max.
i strongly disagree with calling bitcoin price rise a "pump" but i agree with price staying flat for a while probably 1 or 2 weeks but again i disagree with your drop size. there is no way price can go down $200 unless we see something horrible. |
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| Year | | | 21BTC cost | | 2008-2010 | | | Practically free! | | 2010 | | | $3.7 | | 2011 | | | $84 | | 2012 | | | $188 | | 2013 | | | $2,200 | | 2014 | | | $9,030 | | 2015 | | | $5,670 | | 2016 | | | $12,117 | | 2017 | | | $21,210 Today's price |
This is simply great for bitcoin. we have all been hearing about the low prices such as $1, $0.05, etc but it is a bit hard right now to imagine that 21 BTC was worth $3.7 once :O i have been trying so hard to make more profit and invest more and more to reach the 21 BTC for a couple of years now but it has been a hard thing and it is getting harder every day. |
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I still don't understand what actually happened here[1] , I mean the chinese exchanges simply vanished and have no volume at all while Japan is taking the lead now? I heard that they stopped the withdrawals but isn't that finished yet ? [1] https://coinmarketcap.com/exchanges/volume/24-hour/all/look at there: https://coinmarketcap.com/currencies/bitcoin/#marketsOKCOin is still on top of the 24 hour trade volume for bitcoin for some reason! A truly interesting find, ty BrewMaster. That's a high volume for localbit. It's pretty clear that Bitcoin trading will probably find its ways even in the most delicate situations. I think we urgently need a truly decentralized resilient exchange.
well credit goes to /u/bitcohen who shared this on Reddit and i thought it was interesting enough to post the picture here too. Do you think the 'People' have figured out the Central Bank scam?
Is that volume panic trading on localbitcoins??
What scam? the Central bank is and will try to regulate exchanges because they are working with fiat currency and have to follow the fiat rules. panic trading? maybe, maybe not. this is not the first time PBoC is doing things like this and this is not the first time volume on localbitcoins goes through the roof. |
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once again the public bank of China started messing with bitcoin exchanges (a couple of days ago) and once again the trading volume in localbitcoins China went to the moon. and this is while price is still pretty stable:  |
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there has always been a price which bitcoin plays jump rope with! it is usually between something 20 and something 40 dollar like 220-240 or 720-740 but this time the price is the round $1000.
and as many would like to call it, $1000 is more of a psychological barrier that people like selling at. now when all the manipulation is coupled with that barrier, things become unpredictable for everyone.
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