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I think everyone here is basically seeing what I’m seeing. Bitcoin could have had a great future. It is an earth shattering new technology with the potential to usher in great changes in the world of finance. It could be used to help the disenfranchised, unbanked, and helpless people that are currently abused by wealthy power hungry monsters. It could be used to level the playing field of government spending allowing every citizen of the world to see and track where governments are wasting their money. It could be used to pull money away from the financial robber barons on Wall Street and return its control to the people. Bitcoin could eventually have a real economy surrounding it where people sell products for btc and live on their profit using only btc.
Unfortunately, all of the above is fantasy. Will the price keep climbing? Of course, because the main people benefitting from the unnatural manipulated rise in price are the robber barons. These charlatans are keeping bitcoin away from the people that need it the most. Bitcoin is used less and less each day to make purchases. You can’t make dust transactions at all, so micro transactions like tipping are out of the question. You can’t make a retail purchase like coffee, drinks at a bar, grocery shopping, or a hamburger because the fees are too high. Bitcoin is controlled completely by a handful of self important monsters and is further from decentralization at this point than even democratically controlled government fiat. Bitcoin has become yet another trick used by the wealthy to take money away from the poor and no one sees it. The easiest way to rob someone is to convince them they are going to be rich if they follow the path of the robber. Bitcoin could last a hundred years and it still will have died for me less than three years from its creation. It’s really very sad.
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a bubble popping does NOT mean death/ non existence
it means losing the vapour/air of empty space speculation where by a much lower level of underlying value becomes visible
tulips still exist and grow.. literally
houses still exist and grow
whenever i see a crash i see it as discount day, not run away penny-less Armageddon day.
general tips:
1. dont throw your whole life savings into one order/one investment.
2. its better to use funds that would have gone to waste anyway. EG if you waste $80 on fast food each week, which just ends in the toilet 6 hours after digesting. use that to invest in bitcoin
3. if your disposable income(explained in 2) is low whereby a bitcoin tx fee is a noticeable % of that income. keep it as fiat until you see a good discount day where the drop offsets any costs to ensure you dont lose out before you have even started
4. dont hold bitcoin waiting for 10,000% returns. its better to wait until you make just some profit. cash out. and then buy back in at the next discount day.
5. you dont have to cash out all of it when you make profit. but leaving it all in as a hold, means you lose out on opportunities to gain more on those discount days
6. never hold(medium/longterm) funds in an exchange. only hold the funds you want to trade in an exchange for the time period you want to trade it. keep the majority of funds that are not ready to be traded off of exchanges and instead keep them in your own private keys
P.S i fully agree with all of 'question authorities' posts in this topic.
Thanks for the support. It shocks and amazes me that no one is bright enough to see this rise in price as unnatural. Can anyone name any other commodity or currency that has increased 1,900% in less than a year? If gold went up 1,900% from its current price that would mean an ounce of gold would be worth about $25,000. Does anyone ever see that happening in less than a year? High interest rates and high bitcoin volatility are associated with the high speed of cryptology, information spreading through the networks at the speed of light. It is not possible to move gold with such speeds. Really? I’ve had a transaction stuck for 4 days on your light speed network. LOL I’ve had exchanges take routinely over two weeks to get me my cash from a small coin sale. Your information superhighway has some very large Los Angeles style traffic jams going on every day. India buys an average of 800 tonnes of gold every year and its total jewelry market is worth more than $20 billion. The United States of America is the world’s third highest buyer of gold. In 2007, it purchased 275 tons. There’s a gold buyer at a store not 2 miles from my house that will give you spot minus 1.25 for anything up to 500 ounces a day and he’s open 7 days a week. |
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I don’t think there’s an otc investor in the world that would buy that much coin at these prices. I hooked up with a friend I met at a meetup in San Francisco that introduced me to a buyer. I sold him 2000btc but the price was much lower then. That’s also way over the ability of any exchange currently operating. I can’t imagine any exchange has 100 mil in reserves at any bank anywhere. Exchanges require buyers to cover the costs of sellers. They mainly hook you up with buyers and act as an intermediary (for a fee). You would need to sell off slowly at multiple exchanges to do it.
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a bubble popping does NOT mean death/ non existence
it means losing the vapour/air of empty space speculation where by a much lower level of underlying value becomes visible
tulips still exist and grow.. literally
houses still exist and grow
whenever i see a crash i see it as discount day, not run away penny-less Armageddon day.
general tips:
1. dont throw your whole life savings into one order/one investment.
2. its better to use funds that would have gone to waste anyway. EG if you waste $80 on fast food each week, which just ends in the toilet 6 hours after digesting. use that to invest in bitcoin
3. if your disposable income(explained in 2) is low whereby a bitcoin tx fee is a noticeable % of that income. keep it as fiat until you see a good discount day where the drop offsets any costs to ensure you dont lose out before you have even started
4. dont hold bitcoin waiting for 10,000% returns. its better to wait until you make just some profit. cash out. and then buy back in at the next discount day.
5. you dont have to cash out all of it when you make profit. but leaving it all in as a hold, means you lose out on opportunities to gain more on those discount days
6. never hold(medium/longterm) funds in an exchange. only hold the funds you want to trade in an exchange for the time period you want to trade it. keep the majority of funds that are not ready to be traded off of exchanges and instead keep them in your own private keys
P.S i fully agree with all of 'question authorities' posts in this topic.
Thanks for the support. It shocks and amazes me that no one is bright enough to see this rise in price as unnatural. Can anyone name any other commodity or currency that has increased 1,900% in less than a year? If gold went up 1,900% from its current price that would mean an ounce of gold would be worth about $25,000. Does anyone ever see that happening in less than a year? |
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Bitcoin only works as advertised when there are no exchanges.
You make something and sell it for bitcoin. You take the bitcoin and buy the supplies to make more of what you sell and pay your bills in bitcoin with your profit. That’s the way an economy works. Bitcoin has no economy because of the exchanges.
The minute someone buys a product with bitcoin, BitPay exchanges it for dollars and deposits the dollars in the sellers account. That’s the way to keep the dollar economy going, not the way to build a bitcoin economy.
The problem is, no one really wants bitcoin to work as advertised. No one cares if they can perform a financial transaction without the need for a trusted third party. All any of the worthless fuckers using bitcoin right now care about is getting rich in dollars. Centralized exchanges are necessary for getting rich in dollars. They will always be around.
i think this sort of price speculation is natural. we see it with other technologies (via the companies building them). investors are speculating on future development and utility. bitcoin's ecosystem is rather undeveloped. it could never be self-sustaining at this point, especially since it's inefficient to use for everyday transactions. the actualization of a scalable network ready for mainstream adoption is still very far away. and yes, the exchanges are never going away. but remember, exchanges and futures markets arose for all commodities (including food/agriculture commodities) for a reason. not just to get rich. the market needs price discovery, and producers need to hedge. Read all the posted links in this thread and you’ll see that this isn’t natural. https://bitcointalk.org/index.php?topic=2705112.msg27666147#msg27666147 |
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That’s because bitcoin is only for rich people.
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Bitcoin only works as advertised when there are no exchanges.
You make something and sell it for bitcoin. You take the bitcoin and buy the supplies to make more of what you sell and pay your bills in bitcoin with your profit. That’s the way an economy works. Bitcoin has no economy because of the exchanges.
The minute someone buys a product with bitcoin, BitPay exchanges it for dollars and deposits the dollars in the sellers account. That’s the way to keep the dollar economy going, not the way to build a bitcoin economy.
The problem is, no one really wants bitcoin to work as advertised. No one cares if they can perform a financial transaction without the need for a trusted third party. All any of the worthless fuckers using bitcoin right now care about is getting rich in dollars. Centralized exchanges are necessary for getting rich in dollars. They will always be around.
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The govt can’t destroy bitcoin. All the corporate leeches are going to do that.
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Happiness should be shared. I’ve never been happier than when I had a beautiful pair of candy apple red lips wrapped around my dick. I was even more happy if she didn’t cost too much. Unfortunately, the last beautiful pair I had cost me a house, a car, $130,000 in cash and the best golden lab I’ve ever owned.
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14.893.10 dollars 1btc. -15%Tax
Only 15% tax! You live in a great country. |
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Every student of the political economy who understands the style of the work of the technique of Blockchain and Bitcoin BTC will be absolutely sure that the next alternative to the classical system is the digital currencies, which by their characteristics (speed - privacy - lack of costs - decentralization of the system ...) The foundations of political economy in all its schools, from Aristotle and Ibn Khaldun to Marx, Adam Smith and Keynes and finally with Friedman. These scholars, who laid the foundations of economic thought through money supply, can control the economy of countries and their economic policy.
In my opinion, Noble In the economy of this great invention that will change humanity and will throw our lives upside down in so-called Internet value ..........
They aren’t afraid at all. They know bitcoin is too unstable and corrupt to be a problem. They do see the value in blockchain technology and are researching ways to implement it into normal banking. People don’t understand what bitcoin really is on this forum so they think bitcoin can topple governments and crush evil bankers. Neither of those are true. Bitcoin is a computerized transaction ledger. It’s nothing but a secure way to share a database worldwide. That’s why it takes two elephants to move a blockchain copy across the street. Imagine having a copy of quicken database software and adding an internet protocol to it and then using it to store every transaction used to buy anything worldwide. That database would quickly become an enormous unnavigable nightmare that takes days to download at high speed (exactly what’s happening right now to bitcoin). Bitcoin cannot topple governments. The US governments budget and computer financial storage method does not approve and vote for the president. The president approves and votes for the budget. Almost all dollars used worldwide today are not pieces of paper handed across oceans, they are digital representations of dollars. These transactions are stored in huge databases. The EFT/ACH System transfers transaction volumes so enormous it would cripple bitcoin in about 90 seconds if bitcoin were used instead. EFT/ACH doesn’t require dollars. Those transactions could be denominated in anything and the EFT/ACH database wouldn’t care because it’s only tracking transactions. All the fed does is electronically control money amounts. If they used bitcoin the first thing they would do is change the 21m limit. Bitcoin cannot end banking as we know it. Just the opposite. Blockchain technology could make individual banks transactions more fast and secure. Blockchain wouldn’t be fast enough to handle the ACH/EFT System but it could replace one companies system pretty effectively. That’s why big banking is researching it. Banks can use any currency for their transactions (even bitcoin if they wanted to). Using bitcoin would not change the way the bank does business. It would simply change the currency it’s using from dollars or yen to bitcoin. Banks don’t print money they make loans in some currency. Bitcoin won’t change that business model. Anyone that says this is wrong is a fool that doesn’t understand how the world works. They shouldn’t be allowed to vote because they will end up putting some dumbass like Donald Trump in office. |
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 It's a rollercoaster??? Bitcoin is fluctuating so mcg because there are still a lot of uncertainty surrounding the cryptocurrency and its kot just bitcoin but it extends to other cruptoa as well. However with its fluctuations it can also give off high values quicker than dome might expect It's a correction which is common, when the value fell then time will come and it will rise back up again, I'm sure if you will keep an eye with this you will be happy taking the advantage just focus and let your experience enhance your knowledge. This is not Bitcoins “normal” roller coaster ride. Read this all the way through: https://www.biznews.com/global-citizen/2017/12/06/bitcoin-bitfinex-tether-risk-crashing/If you can understand what this article is talking about you will understand what is happening to the price. |
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I don't think the price will go down that much but i hope it will not happen. Bitcoin price is not yet stable again but i think the price will increase this 2018 and not going to decrease anymore as low as $13,000.
The decline and rise in the price of Bitcoin is a natural thing, to me this is a thing that does happen for all things in the world. Bitcoin is the currency so it must happen like other currencies like dollars and yen. In fact, I think the increase and decrease in Bitcoin prices can we use when we can make the right decision. In addition, in 2018 I see an increasing opportunity, we know that more and more people are using Bitcoin. That is a positive thing because with it then Bitcoin prices can be stable and continue to increase. I dare to do a lot of investment on Bitcoin, I'm sure this is the way to get success. What’s happening is not a natural thing. Read this thread: https://bitcointalk.org/index.php?topic=2705112.msg27666147#msg27666147 |
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And those who are bitching are newcomers in the market thinking that they can make money in crypto by just pouring their cash into the ecosystem. And then goes to the forum asking for advise because in the first place they didn't know what they entered and bitching and scratching their heads because they have lose their money.
I always thought Bitcoin was meant to be free of Fiat money "decentralized" as we can see its actually being manipulated by Fiat money. Bitcoin was supposed to be a completly different way to pay for things but thanks to peoples greed they have turned Bitcoin into a trading coin and are chasing high profile mechants away like Steam and Microsoft with all its problems with the high transaction fees and delayed network problems plus its volatility caused by greedy people wanting to make a high quick profit for real money. Bitcoin will implode if they do not sort out the problems and quickly. I think you have a good grasp of the situation. Bitcoin can be great someday but we need to get all of the powerful sharks and conmen out of it first. |
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” Bitcoin is heading towards a dot.com crash and is being driven by a “mania” and “market manipulation”, says Bitcoin Foundation executive director Llew Claasen.
“The fact that you have a 30% in value of Bitcoin in one day is dangerous,” said Claasen yesterday, commenting on the rise of the price in Bitcoin yesterday (7 December).
Speaking at Startup Grind event at Workshop 17 in Cape Town, he said there is strong evidence to suggest that some traders are using what he referred to as “tethers” — a digital representation of the US dollar — to push up the price of Bitcoin.
Tethers were created by a company affiliated with Bitfinex, to move into and out of market positions, he said.”http://ventureburn.com/2017/12/bitcoin-market-manipulation/If this is true, is it helping or hurting bitcoin? These bubbles aren't exactly foreign to bitcoin folks. It's just low-supply commodity market economics playing out. There's really no question at this point whether there will be a crash. Of course there will be! There always is. The interesting part is to see how high it goes first. It's during bear markets that the ecosystem develops and matures, and people really get to work on coding and infrastructure. It may look like a "boom and bust" but it's healthy. In fact, I don't think price discovery can really happen any other way with an asset in such limited supply. As for Tether.... the company is suspicious but I'm not convinced that their centralized USDT and opaque banking practices are capable of keeping the market in a bullish frenzy for a year. When crypto really moves, the buying pressure usually comes from Coinbase, Bithumb or Bitflyer. Not Bitfinex or Tether. Read this article and tell me if you still believe this is normal (all the way through, don’t just skim through it). https://www.biznews.com/global-citizen/2017/12/06/bitcoin-bitfinex-tether-risk-crashing/ |
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This article perfectly describes what’s going on. It’s fairly long but well worth the read. https://www.biznews.com/global-citizen/2017/12/06/bitcoin-bitfinex-tether-risk-crashing/If your money is absolutely worthless to you then don’t read this. Just keep pouring money into bitcoin until the crash happens. You’ve been warned and now have no excuse. You also lose the right to come to this forum and bitch about the loss later. Every time one of you bitches that you lost all of your money I’m going to laugh at you and post this thread under your whining. You should know better than to speculate on one piece of news article. Are there good points? yeah sure. But it all remains a conspiracy theory backed up by no evidence. Therefore, it's an opinion piece that is imagined by the reader to any extent he desires. There is only 1 thing on this earth that can kill bitcoin, and that's bitcoin itself. A better concern for traders and investors would be the high tx fees. There's fact to be concerned about. No one knows jack shit about ANY market, let alone bitcoin. Everyone is just a half-assed moron (myself included) with their thumb up their ass pretending to be Nostradamus. Nothing like Bitcoin has ever been seen in the history of the world, no future outcome can ever be predicted or "pattern-er-ized" This won’t kill bitcoin. I never said that and the article never said that. This will end up fucking over a shit ton more people that will leave bitcoin forever and talk shit about it for the rest of their lives. Why do we need to make more enemies out of former supporters? This is just a repeat of the 500,000 lost MtGox btc that made haters for life. People should know what they are getting into and prepare for it. That’s not possible if all anyone on this forum ever does is say, “to the moon” while posting pretty pictures of trains and rockets. No one ever explains the dangers of bitcoin. They just parrot the party line of, we’re all going to be millionaires tomorrow. Well that’s not true, some of us will be broke tomorrow. |
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This article perfectly describes what’s going on. It’s fairly long but well worth the read. https://www.biznews.com/global-citizen/2017/12/06/bitcoin-bitfinex-tether-risk-crashing/If your money is absolutely worthless to you then don’t read this. Just keep pouring money into bitcoin until the crash happens. You’ve been warned and now have no excuse. You also lose the right to come to this forum and bitch about the loss later. Every time one of you bitches that you lost all of your money I’m going to laugh at you and post this thread under your whining. |
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The Bitcoin Foundation is a joke and it has been known as a joke for years. Maybe 3-4 years ago some businesses wanted to be associated with them and were buying their membership to legitimize themselves, show that they're supporting the idea, but those times are long gone. TBF is a greedy organization with no influence, that's it. IMO the real reason was the Chinese government threatening to limit power used by the biggest bitcoin mines. Some news outlets like coindesk have been going on and on about it for days. So, because the bitcoin foundation is a joke to you Tether isn’t real? Is it imaginary then? https://www.bloomberg.com/news/articles/2017-12-05/mystery-shrouds-tether-and-its-links-to-biggest-bitcoin-exchangeHey, it’s your money. If you want to hide your head in the sand until you’re broke, go right ahead. |
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