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701  Bitcoin / Bitcoin Discussion / Re: Bitcoin Interest... again on: April 22, 2015, 10:43:41 AM
I still believe that again the main driver still goes back to price. Let's just face it we can go on blabbering about how cool the payment system is, the blockchain technology, how the community actually owns the network, but in general most of the people out there are only concerned about things that can net them profit and money making. And that is why growth has more or less slowed down in tandem with the drop. I'm not going to be bothered because eventually as an individual, I'm still playing my part to promote bitcoin.
702  Bitcoin / Bitcoin Discussion / Re: Interpol Builds Their Own Digital Currency on: April 22, 2015, 10:19:07 AM
Are you serious? They are not a money making enterprise so what makes you think they are going to create a coin for that matter? Oh wait, if you are saying about creating a crypto which is under their control for the sole purpose of tracking criminals, that would be possible but shouldn't the project be done by the feds or the people at nasa who has the technological resource? We are talking about an agency tasked to track down criminal activities
703  Other / Off-topic / How many of you signature campaign posters sell your coins once you received it? on: April 22, 2015, 10:11:35 AM
Just like what the title says. Just curious because your actions in part (although not significant) will also determine how many of these coins actually ended up back in the open market? Let's just be honest here because saying and really doing it are two different things. Just want to find out if you are a true advocate or believer in the system because I saw quite a number in the forum who tells about earning through campaigns, hoarding or even buying the coins to help the price, but is it really true? Or you are just there to earn and convert the coins to buy your phone credits and games pass.

For me all my coins are still intact until today
704  Economy / Speculation / Re: Price will not increase until 12 months before the halving. on: April 21, 2015, 12:32:11 PM
Any justification to back up your theory other than relying on historical data? I think at this point, everything is still mere speculation. Even after the halving has occur, there will be no guarantee that price will bounce back again even though the supply and demand consideration is telling you it will. There are many factors that we haven't consider. I think what's possible is that we will likely see the price adjust itself slowly towards the upside but it will be a very very slow process. And again to reiterate my point, there is no guarantee it will happen.
705  Economy / Speculation / Re: Are you bullish or bearish right now? on: April 21, 2015, 12:14:10 PM
Pretty bearish for now. If you look at the order book, there are still large sell orders placed to dump the coins at every price level. Not much can be said in the opposite direction as buyers generally prefer the "wait and see" approach. So in order to break the sell wall resistance and have the price go up, there must be really large order coming in or else with the current scenario, it will most likely drop further.  
706  Economy / Speculation / Re: Support did not hold... But don't panic. on: April 21, 2015, 12:08:09 PM
If it goes to 160-180 range and then bounces back up again, that should signal a double bottom. Right now my buy order are placed just above the previous low and there is a likelihood that bitcoin price will test those levels again. So it's a good and bad scenario depends on how you look at it.
707  Economy / Economics / Re: Be very patient, Greek payment drama to continue beyond 2050 on: April 21, 2015, 11:50:23 AM
If you have accumulated bad debt, sometimes it would take a miracle to turn things around. That's what I see happening despite injecting billions of euros into an economy which has no way of paying back and the pressure keeps on piling. The condition and scenario faced by the Feds are different since it is a single nation, but the Eurozone is totally different story altogether.
708  Economy / Economics / Re: A love and Hate story between Bitcoin & Wall Street on: April 21, 2015, 11:40:14 AM
Although I prefer not to have the wall street guys getting involved but however we can't deny that we need the funds coming from new investors which only the wall street guys can help in this area. The last thing that we want is to see the price getting artificially manipulated and then dumped for quick gains because that is going to be really bad in terms of having people see bitcoin as a reliable store of value. I hope it doesn't come to that.
709  Bitcoin / Bitcoin Discussion / Re: Chargeback in Bitcoin, good or bad? on: April 21, 2015, 11:23:51 AM
Why do we need a chargeback feature in the first place? I had a bad experience once as a seller when I lost my item and the fund, so in this scenario why should we consider adopting a flawed system? If it involves a large transaction, the only way is to use escrow.
710  Bitcoin / Bitcoin Discussion / Re: 12 Million people use Bitcoin today according to XAPO's CEO on: April 21, 2015, 11:09:01 AM
Personally for me, in just one year time span, I believe I've used more than over 100 wallets addresses cause I prefer using change addresses and transfer my funds around just to protect my privacy. Assuming that a quarter of the bitcoin user follow this same trend, that number projected by Xapo is definitely 25 times lesser and it could be even far lower. It's definitely not than high.
711  Alternate cryptocurrencies / Altcoin Discussion / Re: boycott bitcoin2.0 scamcoin they are crashing the market on: April 21, 2015, 10:55:34 AM
In the first place, we shouldn't refer to these coins as bitcoin 2.0. Stop giving them this name. The word "bitcoin" 2.0 itself is misleading as people might thought that the project is funded by bitcoin or having the impression that it's part of bitcoin but it's actually not. Geeks or any bitcoin fans for that matter would know how to differentiate between what's real and what's flux but definitely not common individuals. If only we can do something to prevent the term to be used freely
712  Economy / Economics / Re: Euro area PMIs to stabilize on: April 20, 2015, 02:07:59 PM
It's just a measure of how well the manufacturing sector is doing. Despite how well the economy is performing, it has not addressed the main core issue here about Greece problem and the prospect of another bailout taking place. Until this is cleared up, traders will continue to short sell and dump the currency which in turns ended up indirectly slowing down the process of recovery.
713  Economy / Economics / Re: Oil prices post steepest weekly gains in years on: April 20, 2015, 12:28:48 PM
It doesn't come as a surprise. In fact I expected this to happen and it's just a matter of time that the price will slowly inched its way back up again. Oil prices over the past few months have been severely manipulated and the reason given on why production output was not slashed to stabilize the price has not been very convincing per se.
714  Bitcoin / Bitcoin Discussion / Re: BitSim - Theft and backup? on: April 20, 2015, 12:14:10 PM
Although they didn't provide further information. I can imagine it will be something like this.
BitSim will only manage on the overlay simcard and its hardware function to provide encryption technology when sending SMS.

I suppose when it comes to managing the wallet against theft and performing backup, that will be under separate operation. This can be done via a centralized entity, BitSim for that matter will manage the wallet account on your behalf which is something similar like what an online wallet does. To use their service, you will need to pay in fiat and have that converted to bitcoin that will get transferred to the wallet.

Or another way is, you will have total control over the private keys to your wallet, the transaction via SMS will be under BitSim's part to handle.
715  Bitcoin / Bitcoin Discussion / Re: Factom Will Sell Up To 100% Of Its Bitcoin Reserves on: April 20, 2015, 11:59:43 AM
Based on my own understanding, there are a number of interpretations after reading this news article

1) They are going to do an auction to sell off their coin reserves. If they have it sold to investors who will continue to keep the coins, then it should not be a problem affecting the price. Else if this goes to the open market competing with the coins already put on sale, this will be bearish towards bitcoin price. Is selling the coin reserve *only* option due to severe shortage of funding? There are questions remain to be answered.

2) These Bitcoin 2.0 companies are entrusted and is supposedly tasked to build and develop new technology on top of the existing bitcoin network. So does selling off the coins reserve go against this principle? Where is the integrity of these so-called bitcoin 2.0 companies after what we have seen happened with Ethereum?

716  Economy / Speculation / Re: Shorts on Bitfinex at a all time high! on: April 19, 2015, 11:33:28 AM
I don't know what is the reason but the sentiment is strong this time round as traders are putting on high expectations for the price to fall in weeks to come. I try not to think negatively but usually what is saw here is normally the natural buildup towards the upcoming price dump.
717  Bitcoin / Bitcoin Discussion / Re: Total number of bitcoins will DECREASE on: April 19, 2015, 08:25:18 AM
When the cap limit has been reached and it's getting harder to obtain supplies, eventually price will go up which naturally makes people become more attentive and more careful about managing private keys. Never mind about whether it is going to be exponential or linear, the amount will definitely decrease for sure. 
718  Bitcoin / Bitcoin Discussion / Re: Trust and bitcoin on: April 19, 2015, 08:18:53 AM
A few possible scenarios. May the car rental service can impose something like paying twice the upfront deposit (when paying in bitcoin) and then return back the balance amount once the car has been returned in good condition. It's not an ideal solution as the business owner is still at risk here but other than that, can't seem to think of a better way.  
719  Bitcoin / Bitcoin Discussion / Re: Government intervention in Bitcoin inevitable? on: April 19, 2015, 08:11:57 AM
Unless this is agreed upon by the community, not a single entity can decide to simply change the core protocol as and when they want to. Having said that governments can just make things difficult for you like for instance, closing down bank accounts related to bitcoin businesses but that's just how far they can go to impose the limits.
720  Economy / Economics / Re: Bitcoin Price Watch – What We’re Looking At on: April 19, 2015, 03:54:34 AM
Bitcoin trading is risky for the normal ppl. The price is so volatile. But some ppl probably use technical method to trade it! Can the technical analysis in Forex be  strictly applied in bitcoin trading?

I think the safest trading strategy is by taking smaller size position and aim towards long term. I agree it's too volatile especially if you leverage your position excessively when compared to the size of your account and any change in direction will either mean you win very fast or lose very fast. When it comes to technical analysis I still think it's relevant although at times it may not apply especially in bitcoins, you have whale changing positions considerably and disrupting movement in the market. Overall I think fundamentals and news event are more accurate per se.
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