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5301  Economy / Speculation / Re: Bitcoin Drops Below $12K After Biggest Daily Price Move Since January 2018 on: July 02, 2019, 05:20:08 PM
It has dropped under 10 thousand dollars today as well. It has been on a huge bear run and I am afraid of the results of what it could be. I have too much invested in bitcoin and right now the more it falls the more of my money goes to waste and I am in dire need of cashing out as well, I have not invested all I have into bitcoin but I had all my free cash in bitcoin, don't get me wrong I can cash out right now and still live happily ever after but its just a depressing feeling to sell under what you got, so if I sell right now I will still be financially fine and wouldn't live under a horrible situation but no matter how much money I have it is still a bad feeling. Think of it like a person with 1 million dollars in free capital and now he has 700 thousand dollars, he can still live a wealthy life but he just lost 300k, that is kinda like me but on a very very very small case compared to that.
5302  Economy / Trading Discussion / Re: I GOT BURNT TODAY on: July 02, 2019, 04:03:34 PM
There was a reddit post mocking people like the OP was complaining about. It showed a meme that was like "bought at 13800" and a sad person and today's date and then "bought at 13800" and a picture of a man with lambo and 2 years laters date.

I think that is the best explanation to give these type of people. Yes of course, if you waited another day you could have bought for a lot less and that is bad for you, I wish you could have bought cheaper, we sure could use some people who would buy from here but since that opportunity is long gone there is no reason to feel sad about it and should be looking for the future. Maybe in a week you will still be in profit, maybe in a month, maybe in a year but I can 100% guarantee you if you hold long enough you will be in profit no matter how long it takes.
5303  Economy / Exchanges / Re: Is Binance the Best Exchange for Crypto trading? on: July 02, 2019, 02:19:29 PM
I still think fee's are too overvalued here, I mean yes the trading fee's are so low compared to some others that it does deserve to be high but also their withdrawing costs are so high that it levels it out. I would totally give it 4 stars instead of 5.

Their security is actually another question, they recently got a breach and got 7 thousand bitcoins lost on their hot wallet but at the same time they never made that into a problem and made the customers pay for it, they paid it from their pocket which means maybe they are strong on not security but user friendlies (they also had another one where hackers got many APIs and pumped/dumped a coin). So, in a way it is both a low star for security because they are getting breached but at the same time high on security because that never affected anyone. All other parts I definitely agree with.
5304  Economy / Gambling discussion / Re: 2019 NBA Season on: July 02, 2019, 01:15:15 PM
I do not think there will be any trades between Memphis and Lakers at all. Memphis will buy out Iggy's contract and Iggy will let go of most of his income so they will come to a mutual agreement of Iggy not getting paid much from Memphis and then Lakers will pay the difference and get Iggy.

They are just waiting on Kawhi for far too long, Kawhi didn't give any notification to any team on who they will sign and there is still a ton of time left since he is meeting with clippers and then they are going to meet with raptors as well and then give their answer, which all goes to show you how Kawhi could still pick someone else than Lakers and Lakers would be stuck with Lebron plus ad and 10 other bad guys. So getting Iggy is very important for them, if they get Iggy and I know he is more of a bench guy and getting older that would be at least one known and trustable person for them, they need him more than Iggy needs Lakers.
5305  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: What is the best exchange to start a new altcoin? on: July 02, 2019, 12:25:04 PM
If you have a new altcoin, what would be the best choice to list it at first?
I think if you can Binance will always be the best, however aside from that there are small ones you can always talk to, if you go small enough you can talk with the owners of many exchanges. Right now I personally know owners of 6 exchanges, 4 local and 2 global and I have talked with them for a coin I personally worked for and I can tell you the best one right now is IDAX, they are doing their best and they are super small so you would both be getting in easily since they are small they need coins plus they are fairly easy to reach.

But, if you want to go for the big ones Kucoin is one of the best and I have seen their security which is awesome, they are really caring about the security part and it would be very difficult to hack them as well. So from small (idax) to middle (kucoin) to big (binance) it all depends on how big your own coin is.
5306  Alternate cryptocurrencies / Altcoin Discussion / Re: John McAfee Believes Dogecoin “Will Go To The Moon” on: July 02, 2019, 11:45:14 AM
I guess I can understand Elon Musk because he is a troll inside and he is just mocking when he says dogecoin is one of his favorite coins, its not because of any technological or investment approach but because he thinks its funny and has no purpose but to just have fun, buying dogecoin for investment purposes would be super silly but using it for funding weird stuff is one of cryptos biggest amusements.

However, John Mcafee is just a pure idiot and a moron so when he says dogecoin will go to moon he probably means it and believes it himself, not because of any fundamental reason but because he is a fool. Doge may go up a bit that is for sure but that doesn't mean it will ever worth to something, its a joke money a meme money and nothing more and will never be anything more than that.
5307  Economy / Gambling discussion / Re: SUMO WRESTLING is it entertaining? on: July 02, 2019, 11:13:59 AM
Quote
No doubt Sumo Wrestling is entertaining but you see the target audience is very limited

Its very specific to Japan or nearby, maybe Korea I dont know.    It seems a reasonable sport to me but its part of the whole culture behind it also, it would take a really keen bettor to go into a sport outside their country like this and that they never do themselves.    It could be more popular I think maybe but I can see why its not spread so far.    Many countries have special disciplines that is not appreciated by the wider world.

I voted yes but I cant really bet on it, the biggest bettors are very regular spectators and possibly for their whole lives.
I think Sumo betting is particularly more common in the Japan region compared to Korean. It’s also in Korea but really more popular in Korea. The way Sumo game is known in Japan is just like Pro baseball, people assume it’s a game for people who have increased their body while gaining weight and then start to swank of their strength. It is one game that is highly respected  in Japan because they see it as the national sports and a culture that’s more of the soul of their citizens.

However I would like to say that I do not really find the game interesting and I don’t see it getting linked to blockchain for any reason. As a matter of fact, it got to a point the game started becoming less popular in Japan but because of the love they have for it, they made different efforts to bring it back.
5308  Economy / Economics / Re: CEO - WIREX: "GOODBYE Banknotes... Payments will be DIGITAL" - Cryptonites on: July 02, 2019, 08:32:30 AM
I would love to agree but isn't it already way too digital anyway? I mean banknotes still do exist and we do still spend them but if you ask me in most countries people already moved to debit cards and credit cards and spend that as much as they can without really spending too much banknotes. If you mean they will be totally gone and nobody will ever use it again that may take sometime but bitcoin is chewing a market share from other digital payments like bank movements and wire transfers or debit cards and credit cards and they are not taking away from banknotes as much, they are not even touching it because banknotes are something we are forced to use in some times whereas if it can be digital then it is already digital and could be fiat banking or crypto currency.
5309  Economy / Economics / Re: Is bitcoin volatility here to stay? on: July 02, 2019, 06:50:05 AM
Now, volatility is risky for some people I can totally understand that but if you ask me volatility is the proof that we are seriously in a deregulation market that has no central controlling government or any place that could actually threaten the well being of bitcoin. Look at other markets, when a company does something shady or whatever government takes care of it right away, they jail them or they punish them with extra legal costs and so forth.

However, if you look at bitcoin there is no central location that could do that which means we can totally go to a million dollars per bitcoin and drop to 100 bucks per bitcoin and nobody has the authority to ask us anything, there is no "bitcoin federal bank" or whatever that could be called upon, who are you going to call if you want to punish bitcoin, we are all bitcoins center, every single one of us so volatility is not going anywhere.
5310  Economy / Gambling discussion / Re: Police Seize $1.5 Million in FIFA Gambling Crackdown on: July 02, 2019, 06:15:03 AM
I guess it is never too little, you get 1.5 million here and 1.5 million there and suddenly people stop gambling in illegal places.

A crackdown of 1.5 million dollars is not 1.5 million dollars, its all future bets as well, all the potential customers lost as well, a person that could have made tens of millions of dollars via running illegal gambling suddenly lost all of that in a crackdown.

However, most of the time these places pay the cops so they stay away from them, there are tons of this all around the world and they all have someone in the police world they know and pay to make them go away, if you deny to pay them then this happens and you lose your business. If you want to keep doing this you just have to pay the right people and since you make enough money then you can afford it as well.
5311  Economy / Gambling discussion / Re: 2019 NBA Season on: July 01, 2019, 05:42:50 PM
No they are not rumors, the deadline was Sunday and we can now officially have these news. Irving is going to Boston and its a done deal, Kemba is going to Celtics, plus KD is going to nets as well (even though he won't play) so in order to make it happen nets signed russel to a new contract and sent him to warriors to make it even with KD. Long story short Irving and KD both will be Nets next season and its not a rumor but an official announcement.

You can check reddit and you can see who went where there, there has been a billion weird thing going on and you can see all of them there listed, today was the official announcement date so everyone waited until today and as soon as the deadline passed all of it was publicly announced, all these deals were actually done a time ago but they weren't official just yet.
5312  Economy / Speculation / Re: Downward Trend on: July 01, 2019, 04:57:26 PM
It is not a downtrend right now, its stabilizing right now, buyers bought as much as they can and the price went up and sellers sold as much as they were willing to these prices and right now they are about equals, price did went up to 13800 as I recall and right now around 11k so you may consider this a downfall but I think the price is still fine compared to what it used to be and we are still way more than we were just couple weeks ago when we were at around 8 thousand dollars.

So, all in all we are still doing just fine and need to wait for a bigger fall for consecutive days to call it a downward trend, just one big fall doesn't considered to be a "trend", a huge whale could sell all his coins and drop the price, would you call that a downward trend? You wouldn't, this is the same idea.
5313  Economy / Speculation / Re: What will the Bitcoin price be in 2020? on: July 01, 2019, 03:50:50 PM
Right now, we are on a stable run once again, we haven't had that in a long time because we were in a bull run for a while and reached all the way to 11k which is if you ask me great. However, now that we are in a stable times that means we need to first make sure where it will head before we know what it will be like in 2020, if the bull run continued I was pretty sure it would have dropped eventually but now that it stopped I am not so sure, you can't sustain always going up nor you can't sustain always going down but right now since it stopped we can do both of them and it wouldn't matter since people already sold enough and bought enough to do either of those things. Lets see which direction we will go after this one and we will definitely know what it will be in 2020.
5314  Economy / Economics / Re: Using credit cards to buy bitcoin in the bull run on: July 01, 2019, 02:55:18 PM
Credit card is something weird that I have never really understood, I have seen people spend it like a regular debit card and I never understood why.

I mean I know someone who literally spends all month from their credit card making themselves a debt and then pays it when he gets his paycheck, even have some leftover for cash needs. He could literally stop using credit card and live with his pay check, he does make enough for it, he doesn't need credit card at all, it is just that he uses it because he has some installments on it for couple of stuff and it is easy for him to pay with card than cash so he continues using it. So for people like him, if its not going to make any dent in your economy at all, maybe its not a bad idea at all, maybe it would work for them to invest with credit card.
5315  Economy / Economics / Re: The Risks and Rewards of Cryptocurrencies on: July 01, 2019, 01:00:32 PM
Volatility will not go away, its not something that is destined to go away neither, it is literally there because people have no regulations while doing trading and that allows us to make 10%-20% movements anytime you want, if a stock drops 50% all of a sudden in a day than a lot of people will ask what happened and why it happened and there would be consequences but if bitcoin drops 50% tomorrow nothing will happen at all.

I think above is the obvious reason, why volatility can't go away, it has no other factor to go away, the reason why it's here is because of deregulations and decentralization and as long as they exist (which I really hope they do) than nothing can change it at all, governments and ministries have no power over bitcoin hence it will not be questioned by authorities since it has no central organization.
5316  Economy / Economics / Re: What is the current tax status of crypto-currency in the USA? on: July 01, 2019, 11:48:27 AM
The idea is to let people report it themselves instead of actually tracking it. Coinbase or any other USA based place will notify the government and IRS for your transactions but if you remove your money from there and do whatever you want and return back the most knowledge IRS will have is you put in some money to coinbase, then something happened they don't know and you have either less or more money back into your coinbase for cashing out, which means they will ask you what happened in between for this change to happen.

Aside from that they are not tracking it, they are getting reports from both people themselves who do not want to seen as tax evaders and from coinbase like places to notify them of your movement, which means they do not go out and try to find you, they are asking you to go find them instead, makes things easier. You may want to not pay taxes at all and find loopholes but then if you get reported by some person then you will face harsher punishments.
5317  Alternate cryptocurrencies / Altcoin Discussion / Re: ETH vs ADA on: July 01, 2019, 09:04:01 AM
ETH and ADA is exact opposites of what you may think about the development of things. First of all ETH has a worse development team because it belongs to people and the team could do whatever the hell they want but as long as people do not agree with them and use the new chain they won't be able to make any changes, put the fact that their first try had a loop in it and had to redo it all which prompted another waiting period and we still not having PoS eth just yet, it comes down to a big issue with the team.

Whereas ADA has been one of the most active development teams in the crypto history, I have never seen them have no code changes in a single day, with the biggest code change every day streak in crypto history ADA has a very very active team. However, this doesn't mean ada is better or eth is better, that is all depending on community to decide.
5318  Alternate cryptocurrencies / Altcoin Discussion / Re: Should we boycott the Facebook Coin (Project Libra)? on: July 01, 2019, 07:42:27 AM
It is not about having an affect or not on Libra. If all big crypto people and the crypto community doesn't like Libra and they all come against it saying how horrible it is and how risky it is and tell everyone the risks of Libra even with the huge user base of facebook they will have trouble, maybe they will still be fine but that would hurt their chances of becoming gigantic like they want to.

However, I still think we should not because the moment people get into Libra they will realize crypto ain't so bad and they will want to keep getting into further depths of crypto world and first step will be bitcoin. Anyone who uses libra and likes it will have a big chance of liking bitcoin too and buying some of it, that is why I think we should let it be whatever it wants so we can take advantage of its fame.
5319  Economy / Trading Discussion / Re: What is OTC trading? Why should I choose OTC? on: July 01, 2019, 06:41:56 AM
Well, if you do not have too much crypto then it would be way too much work for way too little income. Miners do it because they do not want to disturb the market since all of their money combined could destroyed the market in a single second if they sold all of it at once.

However, they do over the counter for a bit cheaper than the market price and the buyer sells it slow by slow to market without disturbing it and makes their profit. Hence if you would like to do it there are options like localbitcoins.com where you can go and buy for cheaper than market price but even the transaction itself could cost you the difference between cheap OTC price and regular price so it wouldn't make any sense. I would suggest sticking with exchange since in the end there is a reason why rich people do OTC.
5320  Economy / Trading Discussion / Re: Savings Vs Investment? on: June 30, 2019, 04:33:42 PM
I think investment is popular around here, we are mostly people who are using bitcoin as an investment and we are doing it fairly right because even the ones who are losing money is not going away and tries to make it back and considering bitcoin is a bull coin in the long run anyone who has enough interest to bitcoin could potentially always make money.

Yeah, you can get in during the bear run and lose money but if you do not stop there and keep reinvesting at lower stages as it goes down than you are going to average the entry point down and when bitcoin eventually goes up (it always does) you will profit from it. So, investment is cool, we know how to do it, we have the perfect coin for it and we have the perfect system for it, I would say investment wins this one.
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