These dumps keeps coming day after day, btc holding "OK" so far, but is this still all about china? or are we now in the long bear market since 5000 usd?
edit: also people keep talking about this being the best time to buy when prices are low, but in a free market, the concept of "best time" and "low" are relative.
anyone putting absolute bottom below 2200?
People still want to dump their bitcoin obviously, just watch over China regulators to announce something big, like ban mining activity. Even though there are a lot of good news regarding bitcoin development and acceptance in many countries such as Japan and Russia. But, bitcoin mining pools in China is a big deal, which mean we still sit on long bear market. Whoever buy bitcoin should be sure could keep it for long term just in case another wave or massive sell-off happen again. |
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Just like a water that will seek ways to flow, Bitcoin trading can find ways and means to grow!
Indeed, it's not bitcoin but people who will always find the way to trade bitcoin. Look at China regulators, they trying everything in order to prevent people trade bitcoin [1], even exchanges executives have been forbidden to leaving the country, looks like a criminals and illegal activities being checked in there. However, people should stop to use this kind of news from China to dump their bitcoin again, as this problem should be an object in their country and let other countries take a lead. [1] https://news.bitcoin.com/china-block-all-bitcoin-transactions/ |
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This become a common problem for bitcoiners, but imagine if you're on the other side as a merchant owner.
Consider few things; how if someone spend bitcoin to buy some goods which costs BTC1 worth $3870 but it takes 1 hour to get 6 confirmation, and then 1 hour later bitcoin price drop to $3000, is it a big loss right?
That's why people, whether spenders and merchants owners still doubt to spend/accept bitcoin payment, unless there is third party such as BitPay as middleman to process transaction immediately convert to fiat currency, but it will cost even more to pay fees.
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Since Chinese bitcoiners have been pushed by the regulators, then Japan will take over the biggest trading volume as jpy become the most tradable currency surpass USD. I found it so interesting since Japan is the first Country that has regulated bitcoin as legal payment, and it seems Japan govs really support bitcoin, maybe because the founder is Satoshi Nakamoto which maybe a Japanese (pride of the country). Many good news come from Japan, and government trying to protect their citizens and exchanges from collapse (again)
Japan now requiring insurance protection for all bitcoin exchanges, and regular checkups from the financial authorities to ensure nothing like Mt. Gox happens again in newly passed regulations.
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It doesn't make sense, or I misunderstand about this; who wants to buy bitcoin which 20% higher than market price?
Trading on LocalBitcoins comes at a cost. The prices offered to sell bitcoins on the marketplace are about 20% higher than the prices offered on the major Chinese exchanges, which are still able to operate for several more weeks.
Localbitcoins isn't the last one available while OKCoin and Huobi still working until the end of October, so it's more profitable to buy bitcoin in those exchanges and pay normal rates.
Even though all exchanges in China will be halt and shut down their services for a while or for good, but people will always find a way to transact bitcoin, through localbitcoin or over the counter exchange in another near country.
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It's not a new case, there are many similar problem regarding withdrawal from yobit, you should aware about an exchange, read some reviews from people before decide to deposit into this exchange. You can wait for days without any confirmation, contact support and there's no any explanation. Welcome to the jungle.
Keep contact their support, and hopefully they have funds/coins to give it back to you, or you can start a scam accusation against their services.
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It can be a fake out, don't put all your money in yet.
Chinese holders have till the end of this month and end of October to cash out their holdings, expect more volatility coming.
In past 20 days, turn down happened from 4.9k and 4.5k each in Peaks. I myself has made a safe-line by Gradient of those 2 peaks, as result I got 4.1k~4.3k. There is the safe point, sell half of whole portion at that moment is the best choice. Or just become a Greedy Crazy Gambler Hard to say bitcoin will continue to rise up or it just another way to make people buy more bitcoin before it get dumped again. Or, another case due to recent good news about bitcoin acceptance in South Africa's second largest Supermarket Chain Pick n Pay which supported by electrum platform and Luno exchange [1] Or, Japan as the first Country that has legalized bitcoin as legal payment method in their country which encourage citizens, business and companies to provide-transact bitcoin payment which has growing and take over the power from China. At least you know that buy and sell bitcoin in short time is a gambling activity where many people lose in this game, only if you are panic sell less than the rate as you've bought in the first place. [1] https://news.bitcoin.com/south-africas-second-largest-supermarket-chain-pick-n-pay-trials-bitcoin-payments/ |
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For certain answer, no one could predict it precisely but only mathematics calculations-prediction and speculation from many people in the market, just like Tom Lee a managing partner at Fundstrat predict bitcoin price will reach $25,000 in 2022 because the increasing trend to view bitcoin as an alternative to invest your wealth as a hedge against inflation, and younger investors under age 30 believe in bitcoin as an investment vehicle https://www.cryptocoinsnews.com/25000-bitcoin-price-wall-street-bear-doubles-down-despite-recent-pullback/I remember in the beginning of the year when bitcoin reach $1000 and many people predict bitcoin will reach $2000 by the end of the year, but bitcoin could exceed all the doubts and reach $5000. |
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I think that's where people have their logic wrong. It's not about trying to get more fiat anymore. Don't buy into the bankrupt government's worthless currency. Oh wait they aren't bankrupt! Just print more money to pay off the debt collectors. Perfect. Problem solved.
So, the solution to pay a country debt to the private-central bank? It's interesting how economy runs in this world, especially for traditional banking system. Banksters didn't consider bitcoin as a good deal and may think it just a bubble that will be pop someday. Just read an article mentioned about bitcoin will receive increasing attention from central banks if bitcoin market cap can break through $500, meaning bitcoin price should reach $30,000. I'm sure bitcoin will reach that point in 3-4 years later, that's why I appreciate Op intention and his efforts to buy bitcoin ini every condition. |
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It's a repeated scene in bitcoin environment since the beginning of its development, people invest in bitcoin and hope for profits in the future, so whenever bitcoin price reach another ATH, correction will happen, in this case, bad news about China shut down exchanges create massive panic sell or just some people who want to extract the profits. I won't say it's bad at all, because cheaper price mean a good time to buy bitcoin for everyone, including new adopters. If you're worried about it, just sell yours and buy back at the dip.
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Agreed, if China government keep treating business or companies relate to bitcoin which always create panic sell from traders who trying to get profits from weak hands, then it's better if they just ban bitcoin and let their citizens send all of their bitcoin to other countries, other platforms, once for good. It's really annoying every time they want to halt cryptocurrencies trading activities. There are some good countries to replace their place to create mining hardware and the biggest mining pools such as Japan, South Korean, or Russia. If this video is real ( https://m.youtube.com/watch?v=2Jqf_wZKFCc), there's a huge mining pools in Iceland. |
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No wonder why bitcoin price could recover so fast.
I just see it as the easiest way to buy more coins at cheaper price, by shakedown the market causing panic sell.
As long as people want to extract for more profits, the price will always fluctuate significantly.
I'm wondering how long bitcoin could tanks until next wave of massive sell off.
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After I check this and read : It's not a statement from the government, it's another opinion written by a "Department of North University Guanghua Professor "After all, China government never mentioned to ban bitcoin, but it seems they are looking a way to restric cryptocurrencies trading in order to prevent the exploitation of bitcoin for money laundering, foreign exchange conversion, pyramid schemes and other illegal activities, or they just want to limit trading volume out of the country. Actually, the good news for traders is when bitcoin price will crash, so they can sell off again and buy back at the lowest price. If bitcoin will rise due to certain reasons, it's a good news for bitcoin holders. |
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So I was wondering. What are the possibilities and issues that would come with trying to start a brick and mortar business using tokens as owner shares?
Is it the idea; to start a brick and mortar business? Or it just an example? Do you think people will interested to buy your tokens? For people in your neighborhood maybe easier to convince that your business will run smoothly, but how about calculation of the shares? Basically, I am asking about the real project. The most important thing about crowdfunding is gain the trust of people to invest in your business, to become a share holder. |
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So far it's a bull restore after significant decline, but who knows what will happen tomorrow.
Most Chinese exchanges halt their services, and will be official in the end of this month.
Bitcoiners in China have dragged people to follow them to sell off, weak hands already panic sell and may regret their decision due to the whales and traders buy back more cheaper coins. We don't know for sure, whether there will be next wave of massive sell off or it's already over, back to normal trading day.
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Is there any legit bitcoin mining site? where i can mining without any invest. I am new in mining so please suggest some legit mining site.
There's no such ain't free lunch. There's no any free mining site, you need money to buy hash power, at least $150 or so. If you're looking for a site without any money will be invested, it's refers to Faucet sites. Don't be so lazy, you need to work hard and work smart, put your effort to get bitcoin. |
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Dimon may has a slight conflict of interest here since he work on banking company, but he got caught bet on bitcoin xbt as well.
Big whales, investors, traders and even banking companies like to trade and take an advantage/profits from bitcoin, but it's pathetic when Dimon said bitcoin as fraud but he bet on it under the radar.
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Imagine that after ppl have burnt their fingers using toasters the state decides to ban toasters. A week later online shops have to stop business within 2 weeks. Some online shops may stay in business for an additional month because they've never sold toasters....
your analogy is wrong. people never burnt their fingers with toasters. instead it was shops selling toasters illegally without license to sell toasters! so the government came to them and said "who let you sell toasters, we are closing you down". and people continued using toasters and buying toasters from those shops that had the license. The idea of license exchanges in China  , USA has already done it when they forced exchanges to be licensed, pay an extra money. There are a lot of speculation about China government and it's become a bigger issue since the biggest mining pools are located in there. That's why we need other countries which there are bitcoiners (not always the govs) to create another big mining pools such as Russia and Japan who created 7nm ASICs for a better mining activity, hopefully they could surpass mining pools in China. [1] http://kryptomoney.com/russia-set-challenge-china-bitcoin-mining-sector/[2] https://news.bitcoin.com/7nm-asics-will-bring-bitcoin-mining-to-a-whole-new-level/ |
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