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This good news to all of us who are members of the Bitcoin community. Now, we could hear less and less complaints of how slow is the transactions are and the high fees imposed by exchanges and miners can be reversed for good. The only thing is that market seems oblivious of this development as if this is not carrying any weight anymore.
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You mean 'Gold' as in -> the physical or 'Gold' as in -> an electronic derivative?
The new gold is no other than Bitcoin the current king of the world of cryptocurrencies. Investors who usually go to gold (the physical one or the real gold) are now turning to Bitcoin as the new safe haven...a safe haven with much bigger returns. However, these funds can come in and can also go out in minutes. |
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The Bitcoin price and value continue to rise and this week has seen Bitcoin drive past the $5000 level, a new all time high. Interesting to note that Japan leads the current 24-hour ranking. #1 Japanese Yen – 54.54% #2 U.S. Dollar – 26.64% #3 Chinese Yuan – 8.23% #4 South Korean Won – 6.11% #5 Euro – 3.01% In 2016, reporting showed that most of the trading was coming from China, however, since the People’s Bank of China imposed strict regulations on the crypto exchanges in the country, the percentage of traded volume using the Yuan dropped significantly. In contrast to China, the Government of Japan passed a law legalizing Bitcoin as a payment system. Bitcoin adoption in the country has rapidly escalated as the merchant, consumer, institutions have embraced this bold move. Taken from here. These figures are telling us that indeed it is now Japan which is leading the way for Bitcoin. It is not anymore China which is controlling the biggest chunk of the market (though they still control the mining part). I am glad that Japan embraced Bitcoin with all gusto and excitement. Amazingly, we can see here that the future of Bitcoin belongs to Asia. |
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Greetings; how would one gauge the likelihood or probability that BTC will see a correction at a certain price? my concern is that if many people believe it could happen that would influence it happening.
It is a natural human behavior and they call it as self-fulling prediction or prophecy...it is happening because a critical number of people believe that a certain thing will happen and because of that it did happen actually. With Bitcoin, this is nothing to be alarmed as it is just natural that at a certain point correction can set in. Soon Bitcoin can be back again towards $5,000 for sure and this time it can go beyond that psychological wall. |
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I hope the newbies to bitcoin get the message here, that bitcoin is not an asset that just keeps going up in price; that corrections occur like this and that they are healthy for the market overall. And this little correction we're seeing right now isn't all that bad. A few hundred when bitcoin is at $4500 is nothing. Recall that bitcoin dropped to $1900 last month or so. That was a hell of a drop. So I'm OK with this. When I get my hands on some cash, I'll be buying more. I'm hoping it stays a little lower until then.  I agree. Some people just never got the time to know the trading history of Bitcoin and how it can easily go up and go down. That is why it has one of the best volatility rates ever. And this is also why many are attracted to Bitcoin since the action is here. Soon it would be back to the almost $5,000 level and it can even go beyond. |
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Hmm I guess a group of whales decided to dumped bitcoin.. Or this is just a little bit price correction. The next major price correction is at 5600usd. Yesterday BTC was peaked around $4900+ ~close to $5,000 and it is now back to $4,700
What's your take on it? Minor price correction? Or we will have a slightly down trend towards to Close to $4,000 which is almost a 15% Down
Your guess I think is right. There are people who were expecting that Bitcoin can be able to see the $5,000 level and they have already programmed that once it will happen they would do some profit-taking...as correction for sure can set in at that level. Days from now we can see Bitcoin already rising back to that $5,000 mark and this time it can be able to reach beyond that wall. This is nothing to be alarmed about as we can see this as just a natural behavior of Bitcoin...we have seen this in the past and we are seeing it now and again we can see it in the future...no doubt about that. We are in an open market and what we saw is a dynamism of that market. |
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Admit or not, we are all speculators here. And it is just a logical thing to do...why would you invest your money and time if you think that it would not grow or it would just remain the same? All of those people criticizing Bitcoin because of its speculative nature are people who are actually afraid to jump into the water and get wet.
We who are brave enough to jump and get wet in the process are the people who will get benefited when Bitcoin can soon land in the moon...it is just a matter of holding into it and never get tempted to cash-out.
Speculating is not at all a bad thing as to be honest this is one of the many factors why we have people getting into Bitcoin. Will this speculation lead to that dread bubble as shown by other historic bubble collapse in the past? Only time can tell but I do believe that Bitcoin is different...comparing it into tulips seems like a bad idea and doing injustice to Satoshi Nakamoto.
But then again...am sure there are those who believe that speculating is a bad thing for Bitcoin...so give me your reasons why you think so...
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I'm waiting for this to happened! I'll record myself and do the (fake) seizure thing and upload it to YouTube to get views for $$$ (I'm joking), I hope this will happened, 2017 will be the best Year of Bitcoin History. "BTW, I still have 0 bitcoin since I live" I am sure that many Bitcoin holders would be so happy once we are seeing that its value has already risen to the $10,000 level...and for that to happen within this year...it would be so amazingly great! I would not do anything that can be worth watching on YouTube but I can a cake and share it with my neighbors as a way to celebrate. I am hoping there won't be a huge correction after it got into that $10K wall. |
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Well, OP must be thinking to increase his/her posts so that he can be promoted from the newbie position. I could not understand why so many members of this forum are now contributing junks and plagiarize materials. I can sense that they are finding it hard to use the English language and maybe they are just here for the sake of making money and nothing else. Maybe it is really time that we establish some discipline in this forum otherwise this would be known as the junk collector or a garbage can. |
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Just days ago, predictions and projections were pointing to the possibility that Bitcoin can be able to clobbered the $5,000 mark and it did happen. But what followed was a big correction due to massive sell-off (profit-taking is the possible reason here which is nothing alarming actually) and so we are now back almost at the $4,500 - $4,600 range.
However, since Bitcoin had already broken the $5,000 wall, it would be now easier for it to do it again this time. We just don't know when can that be...will it be tomorrow, next week or just within the month of September?
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Bitcoin price touched the $5,000 mark for the first time this week, confirming Max Keiser’s prediction that it would reach that milestone this week. However, this achievement triggered a sell-off, causing the bitcoin price to pull back to its early-week levels.
After finally breaking through the $4,500 wall earlier in the week, the bitcoin price began to soar. On September 1, bitcoin flew past $4,800, and by the morning of September 2, it appeared poised to challenge the $5,000 mark.
And that it did. Around 1:00 UTC, the bitcoin price leaped over $4,900 and continued to rise. At 2:00 UTC, bitcoin touched $5,000 on several exchanges–including OKCoin–although its CoinMarketCap average topped out at $4,975.
Nothing to get surprised here. People have been expecting that soon Bitcoin can be able to breached the $5,000 level but after that there can be a big correction and it did happen actually. The big reason for the correction was the sell-off made by some whales for possible profit-taking...this same thing can happen in a stock market and it is a part also of the Bitcoin market much more so that there are now fund managers investing in Bitcoin. |
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It is an interesting question and with a globalized currency it is impossible to stop really. On top of all the areas where you identified weak links, you've got the ever changing laws of hundreds of countries that are not necessarily working towards the same goal. Even people who receive "insider" information may end up making big mistakes with their investments, you never know if your piece of detail will wreck or raise the price of bitcoin.
It is possible to gain some insider information on Bitcoin...meaning to say information not yet known by the public or by the media. However, there is no assurance that such an information will affect Bitcoin because there are instances when a big news is just shrugged off by the market. In other words, information is just a tool here and we don't know how the market will behave once that information is already out. |
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People are really loves of speculations...they bought some Bitcoin because of its speculative value and they keep on speculating again when Bitcoin can go bust. Maybe it is really part of our human nature to be thinking of the days ahead even if we know that we are essentially powerless to know for sure.
Are we in the bubble? Of course not, we are seeing here is correction and we know that Bitcoin has so many corrections precisely because it wants to avoid the BIG BUBBLE.
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yes,China will become super power in few years !  Considering its high population which equates to huge manpower you can be right that China will become super power country. Only if there products would be of good quality. And only if Japan, US, France, and Russia would alloe that to happen. But considering its infrastrucfure built strategically around its country, China preparing itself to become the super power country. I would say that China has already become the superpower country next to USA in terms of economic prowess. Its huge population became a file where labor can be cheap and so many of the big firms we have though having some Western names are doing their product manufacturing in China. And in Bitcoin, China remains to be the number one player and influence. In so many aspects and industries, China is a big part of them and soon it would flex its muscles where it would be the one dictating the games and not anymore the buyers. We will soon see this in rare minerals trading. |
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This is a decent youtube clip emphasizing positive aspects of capitalism. https://www.youtube.com/watch?v=_n6ivGgb9RYMore fuel for the discussion on capitalism fire. The main point alleged here is: " world poverty has fallen by 80% since 1970". They claim capitalism is the main driving force behind reduced levels of poverty over the past 5 or so decades, which in turn implies capitalism creates elevated living standards. To be honest, capitalism is not a perfect economic system...it was not perfect before, not perfect now and will never be perfect in the future. It has so many flaws...but the thing is that there is no other system that is much better...meaning to say that all other systems of economy are even much worst than capitalism. Socialism has failed in so many aspects and there are now many nations who are big admirers of socialism who are experiencing some level of economic collapse. I will always go for capitalism though there is no stopping us to also introduce some economic cushioning for people who find a hard time to compete in an open field. |
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Hurricane Harvey may solve the auto industry’s inventory problem. But right now, it's about to create a giant headache for the federal government. Based on the latest estimates from Irvine, California-based CoreLogic, insured flood losses for homes in the affected areas of Texas and Louisiana could total between $6.5 billion to $9.5 billion. Since private insurers typically don’t provide personal flood insurance, all but $500 million of that will fall to the Federal Emergency Management Agency’s National Flood Insurance Program, or NFIP. According to the Street, if insured damages reach the high end of this range, it would totally deplete the $7.5 billion of cash and available credit available to the 49-year-old government program, which provides about 98% of residential flood insurance.
Natural disasters are getting to be fierce these days leaving damages of properties to the extreme. Though there is nothing we can do to stop the power of nature from inflicting the harm to both lives and properties, we can do something by sending any help we can to the people affected. It would really be a big strain on the budget of the agency in charge for this thing. We are hoping that funds can be coming so that a good rehabilitation and rebuilding could start as fast as it should be. People should always be resilient in the face of this another big challenge. |
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I'm Currently staking 2 coins and very shortly will star staking a 3rd.
1. Bitbean.. getting a nice wee small return every day. wallet is stable and stakes are regular.
2. Embercoin. Paying a massive 19.7% per day at the minute. I know this can't last, but New developers have started a process to keep things in check.
Will very shortly start staking DeepOnion. I really like what these developers are doing. they are also in the middle of a very generous air-drop.
I'd be interested in what everyone else is staking and why ?
Cheers
I am currently staking Bitconnectcoin and it is giving us 8% a month...not much but since the value of the coin is going up everyday I find it really good. Bitconnectcoin (BCC) started humbly but with its very limited supply of coins it rise up astronomically months after its introduction and is now part of the top 20. |
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Any social media bounty campaign?
Hi cryptoworldwide. At the moment (leading up to the ICO) there is no social media bounty campaign. However, there will be talks about it upon completion of the ICO. Are you referring to a social media campaign bounty after the end of the ICO or the Pre-ICO. It seems to be unnatural if there can be a campaign when the whole ICO has already ended. Please clarify this matter. I am sure it can help the ICO if you really have a social media bounty as many of us here can do it for you. |
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I was already expecting this to happen, and for that reason decided to take profits as soon as the price went over the $4950 mark. I have not yet bought back, but that will be done once it drops a bit further.
Overall, this is exactly what the market needs. It's not really the correction that I expected to happen, but I have enough patience to wait for the market to drop down even more.
Litecoin experienced a proper correction having gone down from $93.45 to $72.34 a hour or so ago. On the other hand, I still have the feeling that Litecoin is somewhat undervalued below the $100 mark.
It has become a self-fulfilling prophecy then. Lots are expecting Bitcoin to cross the $5000 mark and then there would be a big correction after. Anyway, the most important thing is that Bitcoin has already broken the $5000 barrier so it would be easier to do it the next time. It can be a bear trap. |
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