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If you are going to be in Bitcoin, you have to roll with the punches.
Ok it has gone down nearly $200 in the last few days, but it did go up $400 in the month before that! I am happier with the price now that I was in April.
Idiots are always going to cheer when it falls, probably because they aren't holding. Idiots are always going to cheer when the price rises, because they probably over-invested, just enjoy the ride, if you believe in Bitcoin, then buy some, if not, then don't! Pretty easy really!
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I can't see an entire country relying on bitcoin at the moment, especially a country as large as China.
That is an immense under taking if they are suggesting getting rid of their currency so to make way for a new all digital currency. They have the infrastructure in place, at least in the large metropolitan cities, to incorporate this endeavour but the smaller cities will not be ready technological wise. That would take decades to make the whole country bitcoin friendly and accessible to everyone, even the farmers and the elderly people.
No sane person thinks that China is planning on getting rid of the Yuan in favour of Bitcoin! Much like gold/silver or foreign properties and companies, they will try to diversify so that the weaking Yuan is less of a problem. I do think that that explains the rise somewhat, but it also shows that only a small amount of ths money is involved, otherwise the price would be much much higher. |
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1) Sell all my DAO with 100% loss?
2) Hold on my DAO and hoping it could regain its price back in another 26 days.
How would it be a 100% loss? It would be about a 50% loss at the moment. I think it is dead, I would sell, but others will disagree. I personally didn't like the idea of the DAO anyway, even if wasn't hacked. It could rise again, but it is such a gamble right now. |
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Investors agreed to give their ETH to whomever it was who figured out how to take them up on their offer. Read this carefully. The terms of The DAO Creation are set forth in the smart contract code existing on the Ethereum blockchain at 0xbb9bc244d798123fde783fcc1c72d3bb8c189413. Nothing in this explanation of terms or in any other document or communication may modify or add any additional obligations or guarantees beyond those set forth in The DAO’s code. Any and all explanatory terms or descriptions are merely offered for educational purposes and do not supercede or modify the express terms of The DAO’s code set forth on the blockchain; to the extent you believe there to be any conflict or discrepancy between the descriptions offered here and the functionality of The DAO’s code at 0xbb9bc244d798123fde783fcc1c72d3bb8c189413, The DAO’s code controls and sets forth all terms of The DAO Creation.
(Unless someone can point to a bug in the EVM that executed the code improperly, but I haven't seen any such claim.) well, then, bitcoin should have 184 billion coins right now. https://en.wikipedia.org/wiki/History_of_bitcoinOn 6 August 2010, a major vulnerability in the bitcoin protocol was spotted. Transactions weren't properly verified before they were included in the transaction log or "block chain" which let users bypass bitcoin's economic restrictions and create an indefinite number of bitcoins.On 15 August, the vulnerability was exploited; over 184 billion bitcoins were generated in a transaction, and sent to two addresses on the network. Within hours, the transaction was spotted and erased from the transaction log after the bug was fixed and the network forked to an updated version of the bitcoin protocol. Let's re-reverse THAT. Incidentally, I am neutral on DAO reversal. If eth will crash, i will diversify more of my fiat (not btc) toward it. Will you really trust the next DAO? Will Banks, or companies now trust that it won't be hacked. I remember hearing that Ukraine wanted to use Eth for their election, how can they do that now? Altcoins are based on trust, ETH has lost a lot of that today. If the fork, then that also loses lots of support as it is a centralized coin then. It is no win now. It isn't irrecoverable, but they had better be damn sure that this is a one time event! |
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Read what professional investors do, they recommend investments spread over 10-20 ventures.
They don't invest in Altcoins! The Altcoin world makes pennystocks look like wallstreet! This is the wild west, Eth was a billion dollar coin, before it was used for anything! Other alts are just as bad, or worse. ICOs are generally scams or get rich quick schemes for the coin creators. People copy and paste coins, give it a flashy name, premine it like crazy and people buy it with real money! I would recommend having a punt on 1 or 2 alts that you really believe in, otherwise keep your money somewhere much better regulated and safer! |
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I loved going to bitcoinity and seeing ALL TIME HIGH flashing at the top.
That is my main memory of it, and it happened quite a lot back then.
I hope to see it again sometime. It does feel similar this time, massive swings, inevitable increases after 1 day of price stability! It's exciting to wake up and want to check the price everyday!
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I don't blame the people who have taken some profit already, I bought something using bitcoin that cost 100€ as the price is high, so I only had to spend 0.17btc. I am lucky that I don't really need to sell any time soon, but I have a plan already. I reckon that when the price rises, I will probably be too scared of missing out on a better price to sell a good amount of my bitcoin, but I will definitely be happy to get a few ounces of gold in a 1 for 1 swap  |
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Surely an exchange is just a trading platform provided to allow buyers to buy from sellers who want to sell...
They don't need any Bitcoins themselves, they just need to have enough sellers so that the buyers can always buy.
If someone wants to buy a very large amount that can't be satisfied by the sellers, then an unfulfilled order will be left over. Or the price gets pushed up until it is fulfilled. Due to arbitrage between exchanges, increases in price in one exchange will either be brought back down, or other exchanges will follow higher.
If I understood the question correctly!
Yes, that was the question. Everyone seems to be in agreement too. I also agree as all of the replies make sense - ty I said something different to what all of the other post above me did. They all implied that an exchange needs to be an early adopter or hve lots of bitcoins, I said that they don't, they are merely a platform. It's the same as Betfair compared to a Bookmaker, Betfair is an exchange and only acts as a platform, a bookmaker has to have lots of funds to cover losses. |
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this is just a mini dump caused by shorts that are selling to gain profit and everything will back to normal again in no time.
whoever panics now will regret it later when he has to buy back bitcoin overpriced.
Get a grip. A mini dump, caused by longs taking profits, longs who have been long from way down. Also, many FOMO buyers who bought from $700 onwards would have gotten shaken out, or stopped out. I always wonder about the intelligence of people who dump thousands of coins on the market and crash it by $50-100. They could sell 10 at a time and be out in a few hours, with no one noticing, but instead they take a far lower price to get filled immediately. Unless they are dumping, then immediately buyingback at a lower price, but as the price seems to bounce very quickly nowadays, it would be really dangerous! |
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The price is up $300 since May 27th, so 20 days. If this increase continues we will hit $1000 on July 2nd.
In the last bubble the rate of increase kept going up and up, until it came falling back down, so it could actually happen before July 2nd.
That said, this could be the peak now. No one knows, but it looks a lot more likely now than it did 3 weeks ago!
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Surely an exchange is just a trading platform provided to allow buyers to buy from sellers who want to sell...
They don't need any Bitcoins themselves, they just need to have enough sellers so that the buyers can always buy.
If someone wants to buy a very large amount that can't be satisfied by the sellers, then an unfulfilled order will be left over. Or the price gets pushed up until it is fulfilled. Due to arbitrage between exchanges, increases in price in one exchange will either be brought back down, or other exchanges will follow higher.
If I understood the question correctly!
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The revolution has begun! Yeehaw.  ("The Great Bitcoin Rally of 2016" has a nice ring to it.) Yes, it does. However, I believe 2017 will make 2016 look like playing poker at the kiddy table. In percentage terms, the rise in 2017 could be lower than the 2016. In 2016, the price could triple, in 2017, it could only double. I can see your point of view from that perspective. However, I'm taking into account other things going on in our world economy that may create flight from FIAT into crypto. 2016 is only the beginning of a massive pump to last for several years to come. EDIT: I can see $14,000 per BTC by end of 2017 quite easily. [That's being VERY conservative IMO]. FOMO is nothing compared to FOLOF (Fear Of Losing On Fiat). Many will seek to hedge potential losses from their own currency devaluing by purchasing crypto. We could have as many as 100,000,000 Chinese purchase bitcoin by end of 2017. I am not sure you understand what conservative means! I would put a VERY conservative estimate at $200 for the end of 2017. I expect that it will be higher and $14k is not impossible, if unlikely. I get that you will say that if just 5% of the Chinese move just 2% of their money into bitcoin then... but that is very speculative, not conservative |
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When it skys over $1000 in the next 2 weeks, I can't wait for the naysayers to say " its gonna crash" lol lmao
I'm strongly bullish but if it goes up over $1000 in the next few weeks it probably will be followed by a pretty serious correction. Even otherwise, I feel there might be a crash. We have risen too fast and a lot of people are going to be disappointed after the block reward halving. i'm with jjacob, i think we'll have corrective dump next few Hrs for this current uptick. lot of bitcoiners including myself thinking a massive correction (~-$100) should occur at some point. cryptoland is crazy though ;p a pump $1000+ is certainly possible for the coming weeks to the Halving Sorry do you mean to $100 or a $100 reduction in price? Dropping back to $635 is hardly a massive crash, it would be going back to the price it was last week and still be far higher than last month. $100 per Bitcoin isn't happening any time soon unless the US and/or Chinese government ban Bitcoin. There is too much money in the enviroment and too many people invested in funds nowadays. |
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Transactions are too slow. Will someone fix it or do we need a better coin?
Last night bitcoin have some issue, have a lot of transaction is stuck and not get a confirmation for some hours. and many people said with me if he got stuck o their transaction and not get a block confirmation. That would be a fairly significant problem if it was a true global currency! Anyone who has sent Bitcoins to an exchange to try to trade when the price moves quickly will know that it takes a long time for your transaction to be confirmed 6 times. That said, when you buy something online or spend bitcoins somewhere, you can also see that it is recognised in 1-5 seconds. For small amounts that is great, if confirmations are needed, then it wouldn't be a great idea to not buy online. |
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Exactly right.
No one is forced to trade with anyone.
This is intetesting though: while a retailer can refuse your $100, as they can simply forgo the sale, a restraunteur cannot. The sale happened when they brought your meal and you ate it. Leaving a debt.
Their choice is then to accept the $100 or not.
Here's the really intrtesting bit: they are not, however, obliged to give you change.
But wouldn't they then have a debt with you? Which they could pay in any means they wish!? I don't fully understand why they wouldn't be obliged to give you change, why isn't that always the case then? I found it interesting anyway, thanks! |
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Unless someone responds to Fuserleers points, this thread just looks like someone trying to pump Vcash, then lacking the knowledge to respond to legitimate points raised.
I do know that Vcash can be moved around quickly, it seems like it could actually work as a currency (if people actually accepted it, which they probably never will) but I thought that the scalability came from centralization, i.e off chain transactions.
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It does seem like a lot of money per user, and a lot of money generally.
It makes me worry about what they want to do with the data, I mean they essentially have millions of CVs and careers on there, they could probably sell that data for quite a lot.
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In droves might be overplaying it a little! There are 1.36billion chinese people, the market cap of Bitcoin is 10.7billion, so it doesn't really figure that they are buying in droves! A single rich person still has more worth than all the Bitcoins in the world. Maybe miners aren't selling, as they are waiting until after the halving. Or some people are slowing building a position in Bitcoin, but if droves start investing, then you can add a zero pretty easily to the price. |
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