I read the whole article and it is great, we just need to look back and see how small the 2013 bubble of bitcoin looks like compared to now, in 10 years the current drop in the price of bitcoin will be nothing and the people that are able to hold despite all the FUD going on will be the ones laughing at the end, however it is going to be impossible to hold that long unless there is an understanding of bitcoin technology, those that are here only for the money are going to be incapable to hold for that long, while those that are interested not only in the price but in the technology as well will be rewarded by their faith in bitcoin. |
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Same things happens after each dump? Whales move coins etc. It's good when whales sell. So the 1% will become less and less.
That's right. I was just thinking for a moment that this "whale" at that amount of coins isn't that much of a whale. I mean, sure you dump 30% of Bittrex's daily volume but that's a drop in global volume... not even half a percent? But as you point out, it's good that these whales sell off every dump and that always helps explain why declines keep sliding since sell offs trigger sell offs. Maybe in ten years, even 1k BTC can be considered a whale. I'd love to have a thousandth of a whale's holdings! Yes, the whales are too powerful, as long as they retain the same amount of bitcoins how much fiat you need to by a bitcoin is irrelevant, they can affect the market as they wish so I consider whales selling their coins a good thing since we will have less actors trying to influence the price of bitcoin and we will have a price that truly reflects the supply and demand of bitcoin instead of having a price dictated by who has the most influence over bitcoin. |
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Before make investment in any ICO make sure they has minimum viable product, this is prove if they will serious to development their project. Also understand what the aim of the project and what problem will be solved and they has unique concept and different with others. Also check who the team founder, it is they really solid and professional. And also make sure you have risk management to reduce risk, dont put all money in 1 ICO.
Most icos have nothing to show for when they enter in the ico stage, this is why most of the time I refrain from investing in icos since you need to strongly believe in the devs when they have nothing you can see or use so you know they are not going to just run away with your money, I think this is the reason investors are becoming more careful about where they invest their money and are asking more from icos. |
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I think this should be a lesson well learned and all should head the warnings brought on by this DIP.
1# DYOR - I can't stress this enough these past 2-3 weeks have been torture having to listen to all of you whine about the market going down because you invested in coins with no value.
2# Don't Support Pump and Dumps/Shitcoins - Yes you may see some gains still people end up losing when the coins dump and this is not fun nor is this what crypto was meant for so stop being selfish.
Yes the US today has declared that they support Crypto and the technology of the Blockchain still they have warned that they truly do not support the ICO's coming into play with the intention of hurting the market and I strongly suggest that you all stop playing with Pump and Dumps or the US will not play nice with any more ICOs and you will start seeing regulations in place.
So will we as a community step up or have the government do it for us? Because I do support restrictions being put in place on ICOs if needed as Blockchain is more of Technical Innovation than a get rich scheme.
You have been warned stop messing with Shitcoins!, can we step up to the plate?
I will now stay in bed, eat my food from Pizza Luce and watch some Netflix enjoy the market being green and learn from your mistakes.
Your second point is the most important, even those that knew what they were getting into are getting nervous with the decrease in price and to me that is natural, however many that are mad at what it is happening invested in coins with absolutely no value or utility at all so they literally put their money in those coins not because they believed in the long term of the project but just as a way to make money and that is a mistake. |
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Is bitcoin becoming beneficial to the third-world countries? It just came to my thoughts: how do this kind of trend in economics affect the poor countries? Does it help in lifting our economy? (I included myself since I belong to a third-world country). I am just curious how this kind of trend aids a poor economy like ours? Just want to know your personal thoughts over this question.  It can help in certain cases, for example governments in many third world countries are more corrupt and that is why you see greater economic instability in those countries, bitcoin will help people getting away from the bad effects of economic crisis and it may in fact help them to benefit from periods of uncertainty in their home countries since they will be holding a strong currency in those moments. |
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Here is the news: US stocks suffered their worst fall in more than six years on Monday, erasing gains for the year and punishing investors who had bet on an extended period of market calm. This is the reference: https://www.ft.com/content/af1f8e4a-0a23-11e8-8eb7-42f857ea9f09How do you think this will affect cryptocurrency prices? I have a feeling that it will increase it because I hear that people are selling their stocks and buying bitcoin. Unless this is the beginning of something big I do not think this is going to have any big effect on bitcoin or any other cryptocurrency, it as an important decrease in the stock index but we will have to monitor the market and see if this is a trend or if it was just a one time event, unless we are at the doors of another crisis I will not expect much of what happened recently in the US stock market. |
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When I said more countries are going to ban crypto or bring strict regulations some of the cryptomaniacs got mad and lost their minds and attacked me but finally I am right and the new inside news which I have got is more countries are going to follow it. Doomsday are ahead. Don't believe in HODL anymore. Pretenders are going to pretend and play with innocent people's money.
If you will listen to me you will be out with minimum loss. Many people thanking me as I exposed this scam on Jan 10th and gave solid info how it is going to fall from Jan 12th. They are happy they got out when it was at ATH. Some people who din't trust me are crying as they lost more than half of their money. If you can get out of this madness now, you will atleast be left with half of your money rather than not getting a dime if you keep on Holding by trusting the HODL believers.
We knew this was coming everyone that took the time to actually think about the consequences of something like bitcoin appearing knew that it threatened the power of governments so it is obvious they are going to take actions against it, and yet many people decided to keep holding, does this means the price is going to decrease and adoption will be slower? Of course, is this the end? No. |
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EBay has dropped PayPal as it's chief payment processor. It has now adopted Adyen for its financial transactions. Adyen has a partnership with bitpay, I wonder if we will see crypto payment option in eBay real soon
Not likely at least in the short term, bitcoin still needs to solve many issues, bitcoin is a great store of value we all know that and it is an incredible investments but if we are honest for a second we should recognize that as a currency bitcoin sucks big time, we hope the lightning network is going to change that and I believe it will but until it does there is not a reason for anyone not involved deeply in cryptocurrencies to accept bitcoin as a payment method. |
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Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?
It has minor effect for now, I think. In most countries you still can't buy anything with bitcoin, but when most people start using bitcoin and keep their savings out of banks it will affect country's economy a lot. As for today, country's economy influence Bitcoin rather than the reverse. The effect of bitcoin over the economy will keep increasing as adoption grows, imagine what it is going to happen when a significant amount of people begin to see that investing in bonds does not give them benefits while those that invest in bitcoin and altcoins are earning a fortune, a lot of money is going to be invested and most of that money is never going to go back to the fiat market since people will understand that it is better to hold bitcoin that goes up in value in the long term than to hold fiat that losses purchasing power every day. |
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http://strategiccoin.com/maduro-takes-credit-bitcoin-offering/"Venezuelan President Nicolas Maduro took credit for the recent bitcoin price decline, arguing that the impending launch of Venezuela’s state-sponsored petro cryptocurrency has reduced demand for decentralized cryptocurrencies." Now that we know the cause, what should we do? Convert BTC to Petro? If this does not tell you how delusional this person is I do not know what will, from the beginning Chavez successor has been nothing but a joke but this is getting to levels I could never imagine, no one cares about Venezuela and what they are doing, everyone recognizes the government is going to eventually fail since it needed oil prices to be very high to maintain their level of spending, now he is desperate to keep things running but his currency is going to fail like everything he has created. |
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Nope. China was wrong. Now those Chinese guys, who used to deal with Bitcoins and ICOs relocated their business to Hong Kong. There they are free to deal with all crypto and create their own projects. By the way, BTC price at Hong Kong exchanges is very high.
Governments seems to lack any kind of common sense, they think that just because they say something is forbidden people are just going to listen, Chinese traders were making a fortune with icos and they are not going to stop earning millions of dollars just because they cannot invest in icos anymore from their countries, they are going to find other ways to do it, they are going to move their operations to other countries and if those other countries ban icos as well then they will keep moving until a country accepts them, it is that simple. |
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Here is what is going to happen: the founders of that company will dump their billions, and let the vast majority of investors holding their bags. It will be like BitConnect, but 10x the proportion.
I'm not saying it will happen in the next month, or year, but at some point it will.
I do not know about that, there are people that oppose ripple due to its nature and its relationship to banks and other similar entities, but BitConnect was clearly a scam and many established members in the forum warned people to not invest on the project and yet many people did and now they are paying the consequences, so I doubt the same is going to happen to Ripple. |
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That concept has already been discussed more than years ago, and even when the price was less than $250 everybody was saying that it was a bubble because it came from $1 to $100 in a few years. So no, there is nothing to be worried about. This bubble issue is the oldest and most argumentative issue of all time in Cryptocurrencies. Lots of the most respectable personalities in the world says that "Bitcoin is a bubble" but now they make themselves regret. As long as many people are supporting this coin it will never be a bubble.
Bitcoin in itself is not a bubble but no matter the asset there is the possibility of bubbles forming, a bubble is just an extreme overvaluation of a good, that is all, that is what happened with real estate a few years ago, real estate is not a bubble since we all need houses to live in and places to work and places to have some recreation but too much money was poured into it and this created a bubble, bitcoin follows that same principle and we should never forget it. People are keep on saying that bitcoin is a bubble, yes the price are quiet high and the demand for this are pretty impressive but we must also understand why people are keep on investing on bitcoin which offers great technology. This is just a correction right now which is very normal on every market, well if bitcoin are real bubble I will keep on investing at a dump price for sure. Correct, this is just a huge correction but the technology that backs bitcoin is still there nothing has changed, the legal status of bitcoin as far as I know has not changed so it is still legal, this variations in the price are simply caused by the change in the supply and the demand that is all, these changes have been made even greater due to the recent bad news but bitcoin is still as solid as ever. |
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Supermine said it right. We are in the early days of cryptocurrencies as a whole. Try going out of your house and see if you can find a BTC accepting store near you. You found none? Of course you did. Thats because theres less than 5% of the world's population use or own cryptocurrencies.
True, the fact there is a lot of money invested in bitcoin and alts does not mean that we have reached any kind of big adoption, I have yet to see a single store in my country accepting bitcoin and if I saw it I will buy whatever they are selling just to support them, I still think we are below 1% when it comes to adoption, so this should be very telling because once we reach 5% or 10% I think we are going to see a chain reaction in which most stores will begin to accept bitcoin. |
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I agree. When others are in panic mode and dumping their coins, I am buying up! I think that it is a great time and a good opportunity to buy when the market is down like it is. Here's to 2018 - It's going to be a great year!
This is something that is not understood by many even if it is simple, when the price is going down people begin to sell and making the price going down even further but the right thing to do is it buy not sell, if you buy you will get some of the best prices we are going to see in a long time, this is why I do not understand all the people that are complaining about the price since these prices are great. |
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Bravo. A debt backed currency. I 100% agree. Now are you trying to make this sounds like a good thing? Because in reality it's a clusterfuck in a hurricane. Nothing will ever survive by having more and more debt as time goes on. You can only print so much money until your currency and debt is completely worthless and you get liquidated. Maybe you should switch over before that happens. Either way idc, I'm in. If you don't understand it then we'll just see you in 10 years when you have to understand it to survive.
Correct, countries function under the same rules as regular people even if they do not want to believe it, if a person spends more money than he has then that person will eventually lose everything he has and will have to declare bankruptcy, governments are the same except the scale is bigger but the same principle applies so a debt based currency is doom to fail, it does not matter if it happens tomorrow or in a hundred years it will happen eventually. |
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 To explain them is very easy. The first thing you need to mention is its benefits. Do not say harmful things, it will only show that people do not want to participate. Show them what you got after participating in ICO projects on the bitcointalk forums and how profitable it was in the past five months. They need to see the benefits of bitcoin and they will automatically take the time to learn. simple. Not really a good idea, if you do that then people will have a distorted vision of the market thinking that making money is easy and there is no way to lose, then when they lose and they will lose if they have that frame of mind then they are going to blame you and bitcoin for what happened and instead of creating a bitcoin user you will create a bitcoin hater. |
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This problem is the reason why we should check where the exchanges located (the address) and who is the owner? But, most exchanges do not provide this information, so how could we trust them? Just based on others experience, right? In this case, the problem regarding exchanges service going bad or even just gone offline such as CoinExchange will always occur and repeated. I prefer to use local exchange in my country as it's easier to access the site or even visit the headquarter and meet the owner.
An address doesn't say anything, and the owners names neither. MtGox has been the perfect example of how a (at that time) well established exchange still screwed people and the entire market over, years ago. It's a sensitive piece of Bitcoin history, but one that remains functioning as a red flag trigger of how every exchange potentially may end up in the far future. As long as people use centralized exchanges, it remains a danger. Local exchanges are more easy to approach in most cases, but when greed strikes, and the operator sees a quick and easy money making opportunity, it will be done, that's pretty much a guarantee. In other words, don't trust too much on location and who's behind what exchange. When it comes to exchanges there are no guarantees, just a few days ago there was another hack, and hundreds of millions were lost as a result, leaving your money in an exchange is a risk, this is another advantage for the long term holders, traders have no option but to have their money in exchanges since they want to make profits with their trades but a holder can have all his coins in cold storage where no hacker can access them. Using exchange wallet on keeping your tokens either for long term or short term isn't really a wise move and comparing on storing tokens on cold storages to exchange wallets would be entirely different when it comes to possible risk that might happen ahead.This is why we should really be alert and be smart on handling our coins so that we would somehow avoid the risk on losing them.Even storing them on cold storages wont really make you sure that you wont able to lose it. No method of storing your bitcoins is perfect, and cold storage is not an exception to that rule however between having your money in an exchange and using cold storage there is no doubt which one is the safest, besides having your coins in cold storage helps people to combat the desire to sell for a bad price, but by having your coins in an exchange the temptation to sell is simply too great to overcome for many. |
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Bitcoin is going down what is the best thing to do for newbies in CRYPTOCURRENCY world specially to those who worried about their BITCOIN that purchase in high amount?
If you already bought bitcoin when the price was high then there is nothing to do expect holding I know it can be hard looking at your investment and knowing you are losing money but you will have to endure it, bitcoin will be more valuable in the next years and decades, if you bought thinking you could make some fast profits then I'm sorry to say it but that is not going to happen. |
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I know it's a bit anecdotal, but believe it or not folks, I still have friends approach me and tell me they're interested in getting a GPU to mine bitcoin. I tell them, you must be crazy. I then say, if you're actually interested in crypto currency, just open an account and BUY some. It's not that hard. So there are still so many people who are familiar with crypto currency, but have no idea what they're doing and will eventually come to speculate on it. For that reason alone, I would count on another ATH, but probably not for another year or two at least. Just my two bits, take it or leave it.
The interest in bitcoin is always going to be there, but the interest you describe is precisely why we have the recent decrease in price, persons that thought that getting in bitcoin and making profits was easy then they realized the volatility of the market too late and are selling and getting big losses, instead of recommending to your friend to buy bitcoin you should have recommended to him to read about bitcoin and decide if he wants to get in or not after he took the time to think about it. |
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