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Once a short term bottom is established, it can take months to find new lows, doesn't necessarily mean that the market is showing signs of a reversal.
Look at what happened right after the $275 october bottom...
Still very early to say that "bear are losing their grip".
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A gathering of bitcoiners praying for another bubble pump&dump sustainable uptrend to the ATH.  |
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Bitcoin doesn't just crash quickly to single digits once the bubble bursts. Bitcoin crashes slowly so bitcoiners will stay in the game and slowly be drained of their money. Much like our frog here:  |
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Using bitcoin to "save the unbanked" is stupid.
First of all the volatility can make them even poorer and the benefit of paying less fees could be gone. Are you telling me they should convert their BTC to USD to avoid volatility (paying some fees left and right anyway) and having to trust (I thought when using bitcoin it was not required to trust anyone?) an online BTC exchange holding the funds?
They could use the ripple network or something similar, using their preferred fiat currency (avoiding volatility) instead of an unstable cryptocurrency, and the fees would actually be pretty much nothing.
Bitcoin cannot really "save the unbanked". Throwing at them a volatile, irreversible, 0 consumer protection cryptocurrency is criminal.
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Line breached. Going to retest $215-$220 pretty soon. It's just a matter of time before it crashes again.  |
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Presumably for the same reason that not many people get their mates to burgle their houses and then claim the lost property back on the insurance.
It's fraud.
We are talking about bitcoin (irreversible) payments. As easy as a few clicks (and could be done by scammers in a systematic manner) and there is no way the exchange can know if the hack is legit or a trick. Literally no way (unless you are complete fool and send the coins back to one of your addresses or something lol) |
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In another thread the issue of bitcoin insurance has popped up.
Apparently Coinbase and Circle say that their exchanges are "insured". What does that mean? How does that work?
Bitcoin payments are irreversible and unless the receiver sends the funds back, there is simply no way to get any amount of coins back.
Let's say I deposit a big quantity of BTCs on Coinbase or Circle. Let's say I pretend to get hacked and I "steal the BTCs from myself" using another computer or the help of a friend who is gonna pretend that he hacked me or whatever.
There is no way in hell that they can know if I'm being hacked or pretending.
Is Coinbase or Circle gonna give me free money if that happens? I highly doubt. How does that work? How can they know I have been hacked for real or I'm just trying to fuck with them, considering BTC payments are irreversible?
How the hell are Coinbase and Circle claiming that they are "insured"?
I haven't really found more informations on their site.
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I have a strange feeling bitcoiners are more stupid than most. We know who all the trolls are, one even says so in his nick, and we still quote them and argue with them.
Edit: And comment when others argue with them.
1. Trolls tell you that after the $1200 pump bitcoin was gonna crash 2. Bitcoin crashes for more than 1 year straight while you scream "moon" in between dumps. 3. Ignore the trolls. 4. ? ? ? ? 5. Profit! |
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I have read threads from the early years that were full of trolls. I'm not so sure this forum's any different now than it was in 2011. Maybe there are more members now, but the content of their posts doesn't seem much different to me.
With the only difference that in 2011 the bitcoin large scale pump&dump had barely started and the bubble hadn't bursted yet  bitcoin pumps&dumps ≠ bitcoin is a great investment |
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I stand by that prediction. I wasn't wrong per se so much as early...by a couple years. Maybe three. You seem to be putting in a lot of research to discredit me. Do you really think I'm influential enough to merit the effort? I feel kind of flattered. Dude, did you even open that link? It's not even about you. You sure you're just drunk and not high as a kite? |
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Best time we have had to buy in a long time.
Price @ time of post: "Over $1000"  Actually the price had dropped from over $1200 to almost $850 (MtGox price, which is what CoinBase was using at the time). I think I was lucky enough to buy under $900 before it went back up over $1100. It was certainly a great time to buy. I only wish my phone didn't screw up when it was at the low. Price was at $800+ that day and it was on a free fall that reached $550 3 days after, it reached $1000 in a quick dead cat bounce after a while yeah, just to crash further down the following days. You never said that your advice was supposed to be (very bad) daytrading. It was a clear attempt to lure in suckers to buy overpriced coins and to HODL them |
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Ahh, bitcoiners are the nicest, most open minded folks out there. The reason I never learned whatever tribal grunts is your native tongue is because I don't have to. English speakers rule the planet. And I'm drunk too so back at ya, you foreign fucking foreigner fuck.
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This thread is getting interesting.
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Bitcoin has many flaws, Okay time to call the trolls out. Explain yourself. Just go ahead and read bitcoin related news in the press, and ull see that most of them are bitcoin thefts and exchanges robbing themselves,clients loosing money from exchanges etc.. It all points out that security isnt high enough, from bitcoin wallets to exchanges that any dumbo can start, and only when u fix that can u go forward, because until then ull have every form of authority trying to shut/slow u down. Anything can be stolen, especially when security relies on people. The technical security is greater than anything we have ever had previously when done right. Not a bitcoin problem. Try again. Except that when "security relies on people" there is consumer protection and you can get your money back. If somebody steals your coins, you're done for. |
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-Vault of Satoshi
-MyCoin
-BTER
-Exco.in
-HitBTC
-Netagio
-CAVirtex
-Kipcoin
Bitstamp hacked last month. Huobi downtimes. OKCoin CTO quits.
What the hell is happening with BTC exchanges lately?
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