While we are runnign the end of the week the bitcoin prices soar around 30%. People start worrying and a little bit panik as I feel from the forum this time. There is fear, uncertanity and doubt regarding the future of the crypto currencies. the starter of the chain reaction was he SEC has repeatedly said they are going to get involved in the crypto ecosystem.
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there is 21 million supply of bitcoin will be available, roughly 16 million already produced. Price is determined by supply and demand. Everyday if we keep the demand stable at some point mathematically the supply getting hard so the supply side of the equation will keep increasing due to the limited production. But also there is a speculation added in to the matrix so you have to be carefully examine and feel where the market will go. But currently due to my feeling it is not the best time to buy there will be better environment occur.
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First of all the price drop can be cause of this but in my opinion it is mainly because of the Binance and the MtGox news, Japanese Financial services Agency suspends seven exchanges including Coincheck. It is a notice for them to fulfil their technical improvement for the security of their wallets as they have a problem on hacking. But Coincheck promised to refund all stolen coins from their accounts to the customers.
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Bitcoin do not hit an end, currently it has been so many news poping up regarding bitcoin, I am not sure it is speculative or not but at the end of the day these type of news suppressing the potential of bitcoin. I never think bitcoin will be crash but it might have been enter a decreasing period of its prices.
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I am using a ledger nano to store my cryptocurrencies, before that I was using metamask it was also fine at that moment. I started by keeping hard copy, written on a piece of paper, then keep it a short time on exchange, metamask and currently Ledger Nano.
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For the news you have so many options I don't want to list them here, the best is this forum it is like Reuters, you can also get some clues before the news appear sometimes if you follow in detail. Steemit is in my top 3, it is very precise I like it.
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there is a correlation between cryptocurrencies in general, currently due to the SEC announcement regarding Crypto Exchanges Must Register With Agency the market step back around 10%. Due to the correlation btc, eth, xrp and the altcoins effecting each other. Because first btc and eth following it, is the ways of turning in to a cash.
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It looks that cryptocurrency market is looking to find a reason to settle down, binance hacking news push the prices roughly 10% down. Prices seems to be go bit down till 6kUSD levels, it is still trying to hold on the strong resistance level at 10kUSD. With South Korea the trading volume in BTC is very important, this brought in huge concern in the BTC market. In February we saw the levels of 6kUSD and fast increase till 12kUSD, btc prices are choppy.
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There’s a lot of misunderstanding around the terms “virtual” and “digital. All virtual currencies are digital but the vice versa of this is not correct. Digital currencies are currencies that are stored and transferred electronically. Virtual currencies are used primarily for online entertainment. We can not use virtual currencies in a real world.
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Yes using bitcoin as a payment system has many benefits, we are aware of these. I would like to give example to explain from one benefit perspective, I attanded to a ICO 4 months ago by credit card, I have been still waiting due to my tokens were locked because of the processing time of the credit card, for the merchant there is a risk for drawing back the transaction due to its made by credit card 180 days, in bitcoin transactions cannot be reversed once made. But it is an emerging technology, in the future it would be better on a technological backbone.
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As it is confirmed by the spokesman in Samsung declared that 'Samsung's foundry business is currently engaged in the manufacturing cryptocurrency mining chips.' They are aiming to provide application-specific integrated circuits (ASICs) to an unnamed Chinese mining firm. According to the news in coindesk.com. Samsung a Taiwanese company, mainly a processor producer, the final products like display systems, computer, mobile etc. come after that, as normal they are trying to expand their processor usage with this kickoff.
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As bitcoin is the first crypto currency in 2008 created as an alternative to regular transactions and store of value, powered by distributed ledgers others also, it become more popular naturally. But the popularity and rising market capitalisation of other coins brings competition in recent years.
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Easy of transaction High personal control Security of the transaction Transparency As bitcoin is not the perfect it has both advantages and disadvantages it depends which items are important for you, then you can decide. It has also advantages that we can not get them from currencies.
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You can buy so many things as today for example; you can use overstock online retailer accepts bitcoin, expedia online booking agency, eGifter gift card, newegg electronic retailer, shopify ecommerce, dish TV provider, roadway moving company, pizza for coins, microsoft, jewelery etc. You can buy what you want as a retailer shopping. Also it is developing every seconds. There is thousands of them you can find locally as they start transaction in local stores.
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At all time I keep this information in my mind that 'Bitcoin as the perfect bubble'. Both btc and usd has no use other than waht people are willing to pay! The main difference of btc from real money is it is not backed by any government.
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Currently it is more than 1500 cryptocurrencies trading in the market, total market cap is around 450 million usd and BTC dominance is 42%. It's very big amount of money pumping in the cryptocurrency market. The way they run the cryptocurrencies are successful enough to replace by the national currencies. In the long run some amount of money will be lost in the ecosystem but there is also possibility to make huge profits.
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Centralized Bitcoin; technically means you have to go through one party, you can not avoid that 'Party'. Due to its distributed nature, if mining was centralising it would probably never be mentioned.
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Ones you get a high risk the only reason is to make a profit in that parallel at least. if you think BTC has minimum of 10% chance of becoming a store of value this would be a good return.
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It is a digital wallet in other words, if you wanna move your bitcoin you need a personal address it works like an email addres it is public. If you wanna read your email first you need to enter a web interface like gmail for ex. you also need the similar of it in bitcoin called bitcoin client. then you need to login by your email password same in bitcoin you need your private key. Private key + Bitcoin address called bitcoin wallet. My best is hardware wallets but currently they are produced limited due to the high demand to them. Because I think they are the safest storing technique.
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Bitcoin is like an icebreaker, everybody also myself get in to the crypto currency world over blockchain then I learn bitcoin then altcoins. Bitcoin is become like a brand, this is very important.
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