the reason why bitcoin price has been drop within an hour its because when bitcoin suddenly reach that amount there's a lot of users who cashout their bitcoin so they can use it on their needs. so expect that if bitcoin reach $1000 barrier there's a lot of more user that will cashout their bitcoin so the price of bitcoin could be probably drop atleast $500 per bitcoin. so if i where you when bitcoin reach the $1000 barrier you should cashit out to or else you will lose your bitcoin.
Are you really believe that if bitcoin climbs to $1000 so many people will sell their coins for fiat and the price will drop in at least (as you wrote above) $500? I could say this is a crash. I understand here is the "speculation" subforum but this prediction without proofs is something like science fiction movie. So you could sell your coins now with a big profit. Could you? |
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Bitcoin is money and looking under this concept we must use it as fiat money. So even though there are not many places we can buy or sell goods or for many of us buy or selling services I try to use it. In this way there is not a constant amount in my wallet and now is only 0.0254 Btc.
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Seeing what happened in 2016 I believe that bitcoin will have more adoption from people worldwide. China will continue to support the bitcoin market and Indian people after the ban of 500 and 1000 rupee banknote will turn to crypto coins market. So more demand of bitcoin globally means higher price.
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The question of OP is like he asks what will be done if there is only one government and only a state around the world. Countries all over the world want to dominate in earth. I believe that knowing what is happening globally this is a situation maybe never happened and I see it as utopia.
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All of us here we know the bitcoin advantages compared to fiat but fiat dominates the world something difficult to change. So If we believe to bitcoin we must use bitcoin. That is to buy/sell goods and services in every day transactions. If we use bitcoin only for hoarding then we tacitly agree that we trust only fiat money.
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Bitcoin (includes and other cryptocurrencies) is the only payment system which does not need third party trust entities. In my opinion someone seriously has involvement with bitcoins need more than on wallet. Needs a web wallet for every day micropayment transactions; needs a hot wallet because bitcoin is internet money and we always need an internet connection. At last we need a cold storage wallet. In bitcoin era there are no banks to have our savings. So we are absolutely responsible to protect our funds. The best nowadays, imo, way for savings is a cold storage. So we need at least three wallets. Which wallets are the safest among all of these software or hardware is under consideration.
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I'm not sure if this has ever been implemented yet, but can you imagine a way of paying with Bitcoin by just using your own body? It would be more of like a microchip implanted into your left or right hand that would contain both your public and private keys to send and receive Bitcoins. So in case you want to send or receive some BTC, you would just pass your hand over at a scanner and it would perform the desired operation. This is would make it a very convenient and easy way to transact, and carry your Bitcoins with you anytime, anywhere. However, the only thing to be considered would be the security of your private key from within your implant, to protect your funds from theft. Nevertheless, I want to know your opinion about this, since it would be pretty cool to have such a system to help spread mass adoption of the cryptocurrency.  I don't like this idea. I don't want chip anyway in my body under my skin. First of all people adopt bitcoin because they want to be free from banks. If a have any kind of implant device in my body except this which is relevant with my health like as a pacemaker I would be free from banks but slave of the bitcoins. |
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-- snip --
I think it's because it's the holidays? People wait for this time of the year to spend a lot of money. Others get their bonus and double pay at this time so spending much money shouldn't bother them that much.
To be honest, I don't know the answer to your question (will it be stable?) but I do believe in the saying that everything that goes up will go down. All you can do now is secure your by selling some of your coins. In case of price decrease, you already sold some of your coins. You didn't totally miss the opportunity of selling at high price.
The way I see it has nothing to do with Xmas and the people's mood to spend fiat to buy coins. These days people buy gifts for themselves and their family. Maybe the strong interest comes from China investors or maybe from Indian citizens who fear their government, and they have lost their trust to fiat money or some rich people around the world who believe that an economic crisis is coming in the very near future and search to find a haven for their funds. |
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Assuming the words use and hold have same meaning I found a source https://bitinfocharts.com/top-100-richest-bitcoin-addresses.htmlclaims that bitcoin holders with more than 1 usd value are more than 5,663 million addresses. But I have two objections here. Firstly, the admin of this site counts btc holders taking under consideration their wallet exchange rate in usd dollars. But this estimation changes rapidly according the every day exchange rate USD/XBT. This number could be more close in reality if his estimation was in bitcoins. Secondly, as everyone knows most of us we have dynamic addresses more than one in wallet or more than one wallet. |
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My first problem was buying bitcoin. I had none give me any advice so 1 risked a small amount buying from localbitcoins. Fortunately the transaction with other guy was finished ok there was not any problem and I learned practically the meaning of escrow even though there was no need to use it. Now none spends because most of them are expecting a bigger price and they follow the strategy wait and see.
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If anyone ever managed to buy a house for 1 bitcoin that means bitcoin has become very expensive i.e is a deflationary currency. Such extreme situations (inflationary, deflationary) in economy creating problems very hard to be manipulated. On the other hand, there are places in earth that as price of bitcoin will rise real estate prices will rise too as demand increases compared to supply.
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I will clarify about what I've said that trading is gambling, I want to point out the risk that we are getting in trading is the same thing what we get as we gamble. And yes I agree also with Ziskinberg that we need to be positive every time we gamble or trade. Whatever you chooses to do, just always do it lightly with positive attitude.
No, imo trading risk is not as gambling risk. In trading you must use your mind, education and information, if you have, when buy and sell. In gambling is mathematically proven that in the long run you will lose your funds. Trading is same as gambling only if trader has the same behavior of gambler. |
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We must use bitcoin as we use our fiat money. Most of the people use bitcoin not as payment system but only for hoarding and trading in exchange markets. So it's natural to have many fluctuations of its price.
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May be the biggest disadvantage is that there are not many adopters in our country and most of them are using it only for hoarding. So buy/sell goods and services using bitcoin as payment system practically does not exist.
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As we see the banks all over the world try to restrict the number of notes that are in circulation. Maybe 20 years from now to live in a cashless world. That means, cards and digital assets would dominate as payment system. I believe if bitcoin improves the wait time in micro-payment every day transactions will be the leader of the people preference
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[FEES-ARE-TOO-HIGH-FOR-BUYING-MY-LOLLY COMPLAIN TROLL CONTENT]
Franky, you're never late when it comes to find a thread to spread your retarded bigblock propaganda. Congratulations, great shilling for your master as always! Just ignoring the fact that the thread opener is a brand new member and is using a shitty third party service (with Roger Ver as an investor) and not a proper wallet, the following can be said regarding transaction fees: Bitcoin is not suited for storing every single micro transaction instantly on chain - especially not when inadequate fees are paid for low-priority transactions. You can do it, but you have to pay adequate fees. In the future, there will be the possibility to send micro transactions using payment channels, which will greatly improve speed and costs while at the same time preserving the network decentralization of Bitcoin - an essential property of Bitcoin that malicious actors such as Roger Ver and his sockpuppets like franky1 actively seek to destroy by demanding block sizes so big, that privately owned full Bitcoin nodes will be eradicated because of bandwidth requirements. ya.ya.yo! Bitcoin has a big disadvantage, compared to other payment systems in every day life where we buy things which have not a big cost but we need a speedy transaction. I agree that micropayments channel is a big improvement in this way. Many people we will use it more often than now. |
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I prefer "Join the Bitcoin revolution."
I understand some peoples aversion to the "revolution" tagline, since it may sound like we are trying to overthrow banks or the government,
but maybe that was the original idea of Satoshi Nakomoto, anyways.
It's very difficult to find a good tagline. Something like the catchy as someone above told about blockchain's.info motto "be your own bank" and a word more relax than "revolution" something which brings hope. Revolution imo brings in people's mind violence, rebellion, bloody, riot, guerilla activity and so on. |
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Holy shit.
I think I remember reading about this site and thinking about using it at some point in the near future too. Probably a good thing that I didn't get too interested in it.
You mention that 1.5m RMB was lost though, what is/was the conversion rate to USD? It can mean a huge difference as to what the noted losses are.
What concerns me is not only the amount of money have been lost but how easy site's security gap found and they fell victim of hacking. This proves that administrators, and anybody is responsible about security of these exchange sites must be anytime in alert because even though they said that they take full responsibility about digital assets loss they lost forever their customer's faith. |
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As I noticed all of these private keys start from number '5'. So all of these are in unencrypted wallet format. If we convert them to BIP-38 i.e start from '6P' as have been proposed https://bitcoinpaperwallet.com/bip38-password-encrypted-wallets/. I don't know if the website owner, OP had mentioned in his first post would be lucky, to find some. |
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This is not a good option for your funds. There other solutions where only you and someone you can trust have access on it. If these private keys correspond to your savings you can encrypt your private keys and store it in a safe in your home or to a bank locker. If the keys correspond to small amount, how small it depends from you, many members of the above have proposed some very good solutions.
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