Will bitcoin reach a state of low volatility that would be the same as gold? This article is a typical gold hype to make everyone buy. But look at the analyst's projected high of where gold might be on the 2nd half of they year. The increase from low to high would only be a mere 14%. Also, do you really want bitcoin to reach a state of stability in its present price?  (Kitco News) - Struggling gold prices will soon see better days, with a bullish wave projected to bring about as high a level as $1,370 this year, according to one analyst.
“At the present juncture, sentiment in the gold market looks excessively bearish, which is unsustainable,” Metal Bulletin precious metals analyst Boris Mikanikrezai wrote in a Seeking Alpha post on Friday.
Spot gold prices tumbled almost 9% in the last six months. And on Friday, the prices nearly hit the $1,200 level. The December Comex gold futures also had a tough few months, last seen trading at $1,222.90, down 0.02% on the day, after hitting a 12-month low on Friday.
Despite this major drop, the yellow metal has been one of the most resilient trading options within the precious metals space, Mikanikrezai noted.
“In the second half of the year, I expect a strong rally in gold prices and gold-mining equities as the macro backdrop for the precious metals complex should prove more positive,” the analyst wrote.Read in full http://www.kitco.com/news/2018-08-05/Be-Ready-For-Gold-s-Bullish-Wave-Analyst.html |
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There's a few things going on here.
BTCPay is taking share from the shitty BitPay (with its proprietary payment protocol that sucks ass) owned by Coinbase.
Also, there is LESS incentive to spend Bitcoin when the price in fiat is low.
If I can theoretically pay a $500 USD price using 0.07 of a Bitcoin, why do that now when I could potentially pay the same $500 USD using 0.05 BTC later on?
I've seen it before, and even with my spending -- we tend to use Bitcoin when its ratio to fiat is superior by a large margin.
This will happen again as price recovers.
Agreed. The costs of missing holding opportunities by spending bitcoins now would be simply high. In any case, that is what would tend to happen among deflationary assets like bitcoin. The velocity of transactions are low because itmis more valuable to keep, making its real longterm value always going up. |
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I have seen some old members and known people from the bitcoin community hype and celebrate the Starbucks news in social media. But reading the truth about it now makes me question. Are they nothing but overexcited people the same as the altcoin pumpers that spread any hype news as long as it will pump the price?  The press release by ICE (the parent company of the New York Stock Exchange), the second-largest owner of financial exchanges (by revenue) in the world, said that ICE "plans to form a new company, Bakkt, which intends to leverage Microsoft cloud solutions to create an open and regulated, global ecosystem for digital assets", and that it is partnering with Microsoft, Boston Consulting Group, Starbucks, and others to "create an integrated platform that enables consumers and institutions to buy, sell, store and spend digital assets on a seamless global network."
Naturally, this announcement created a great deal of excitement amongst crypto enthusiasts, traders/investors, reporters, and analysts. In fact, as reported by CryptoGlobe, Brian Kelly of CNBC's Fast Money calling this the "biggest news of the year" for Bitcoin.
However, late afternoon on the day of the Bakkt (a play on the word "Backed", as in "Asset-Backed Securities") announcement, according to a report by Motherboard, the coffeehouse chain tried to make it clear that it didn't actually want bitcoin, but it was interested in working with Bakkt to development solutions that allowed its customers to convert their bitcoins (or other digital assets) into fiat currency, which they could then spend at Starbucks.
A Starbucks spokesperson contacted Motherboard reporter Jordan Pearson to say:
“It is important to clarify that we are not accepting digital assets at Starbucks. Rather the exchange will convert digital assets like Bitcoin into US dollars, which can be used at Starbucks... At the current time, we are announcing the launch of trading and conversion of Bitcoin. However, we will continue to talk with customers and regulators as the space evolves... Customers will not be able to pay for Frappuccinos with bitcoin."Read in full https://www.cryptoglobe.com/latest/2018/08/the-truth-about-starbucks-and-crypto-payments/ |
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Username: bbc.reporter
Post Count: 4250
BTC Address (must be SegWit): 3D7SpFWuq3MkHQaXTWbc92umQ1QHZfd4dB
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@krach. Thank you! How would this fight be different from the first fight for you? What would be Cody's adjustment versus T.J.'s kicking from a distance that makes Cody an effortless target?
I reckon tonight, Cody might be the pressing attacker, not the waiting counterpuncher.
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Dustin Poirier is making a good storyboard for himself by not forcing his right to be the next challenger and letting the money fight between Conor and Khabib be organized. Also, by fighting Nate Diaz in UFC 230, he will have his chance on Conor or Khabib if he wins.
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I hope this will lay to rest the myth that it is impossible to buy coffee with bitcoins.  The ideal solution for Starbucks would be some kind of Lightning Network enabled Bitcoin wallet, because that is more suited to quick and inexpensive micro payments. I hope this is not just another "test run", but a full implementation this time around.  I know KFC and McDonals has also had some trial runs before, but it was more a promotional gimmick than anything else.  If this was a full implementation, would we see the billions of coffee drinkers all around the globe start using bitcoin? Would they buy bitcoin only to purchase coffee? Would they stop using their credit cards? No. But if they did then we might see blocks become full and fees become high again hehehe. |
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Pretty poorly written article.
I expected a more in-depth article exactly explaining why they think Bitcoin can replace fiat, but it seems to be a rushed article targeting noobs with flashy figures.
Important is to not focus on Bitcoin to replace fiat currencies, but to give people the option (freedom) to choose what currency they want to use. Fiat won't be going anywhere, banks won't be going anywhere and governments won't be going anywhere. Instead of wasting time on waiting for them to vanish (which won't happen), use Bitcoin right now and stop using fiat and banks where you can. I have been doing that for ages and it works perfectly fine. No excuses.
Agreed. The price has no effect on the present system if the people do not change their thinking on money and what gives it value. Also, bitcoin can reach $1 million tomorrow and it will still not replace fiat if Mr. Banker will not give up its power and influence on the market, the government and on the people. |
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Thanks for sharing, OP, but you asked the question why holders would want to waste their Bitcoin to buy movie tickets and popcorn and I'm finding this a little surprising. Don't you use Bitcoin for everyday things? I'm using it already so regularly that my spending on crypto is already really catching up with my fiat spending.
I order food delivery at least once a week now. That's 100% in Bitcoin. When possible, online shopping I try for Bitcoin options. They actually end up being the same cost or sometimes cheaper. Amazon with Purse gives you at least 5%, for example. If I could pay for movies and popcorn with Bitcoin, I sure as hell would!
And why not? We all already know we have expenditures. We're spending it anyway. I earn in crypto, and I still need to convert it to fiat for expenditures. I wish I didn't need to.
Am I wasting my money? That's what Bitcoin is, isn't it? Money?
Yes, you are wasting your bitcoins because you are losing some value today by spending them on useless things. It would be better to save them and spend little of them for as much as possible. Bitcoin is not like any fiat money that is devalued by inflation. |
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@LTU_btc. I fear that Daniel Ricciardo's driving career might start to go down after his move to Renault. He will not have a good chance to win anything there. It would have been better for him to stay in Redbull, I reckon.
Also, yes, one of the Toro Rosso drivers is the next Redbull driver.
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@TraderTimm. I reckon Jihan will. I read an article about it hehehe.
In any case, I also read an article that Sony has patented some hardware specifications that are giving away signs that they are also wanting to go in the Asic manufacturing industry. If I am not mistaken, Samsung have also started.
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Who is expecting an influx of capital? Them? I doubt anyone else is.
Three hacks and a month of wallet closures is not an attractive prospect for any right thinking human. Fool me thrice is certainly pushing things further than most people are willing to go.
Agreed. Also, the nature of ease of moving cryptocoins from address to address without limitations to geographical locations, and anonymously would make employees or operators themselves to do inside jobs to steal from their own businesses. |
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Also, there are much more complaints on HitBTC from their users in the past few weeks. There are many of them that are not recieiving their withdrawals and rumors of an exit scam are in the news.
That's been going on for more than a few weeks I know about the story about HitBTC's selective way of freezing user's cryptocoins, but this is different. It appears that it's occuring more often. It will not be a shock for me if HitBTC is operating a fractional reserve. |
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Also, there are much more complaints on HitBTC from their users in the past few weeks. There are many of them that are not recieiving their withdrawals and rumors of an exit scam are in the news.
I would advice everyone to stop using HitBTC for any of your cryptocoin buying or trading.
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@prolambo. Would you agree to be reported to the moderators for asking for merit by some of those who followed your advice losses their investments hehehe.
In any case, everyone should be careful and know that this is a pump and dump.
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I'd say that bitcoin's $6k price level was definitely close to the bottom, if not the definitive bottom.
I'm just uncertain as to whether the bearish sentiment in the market would continue longer before the bull market actually comes. Right now, even though we've seen some small bull runs, I think that it's safe to say that we're nowhere close to a bull market yet.
The lowest BTC can go is probably $4-5k within this bear market, in my opinion, under which there will just be too much demand for prices to keep falling. But whether this rally is going to be the start of a recovery or just temporary and will correct is unknown at this stage.
I reckon one of the good ways to find if there is demand for prices to keep falling is to look at the data on short selling and long buying in different exchanges. I reckon some exchanges let users peer though this data by using their API or directly from their sites. https://datamish.comThere are more longs than shorts at this moment. |
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It might be good for speculation and the price, but ETFs will not help in what the real bitcoiners want. Adoption. Also, ETFs are only good for those few large specialized investors called authorized participants because they hold your bitcoins, while you hold a useless ETF. I reckon the approval will pump bitcoin, but it will also dump bitcoin after a short time when the news of the approval is released.  BitMEX’s CEO sees that acceptance of such a fund will produce a capital influx from retail investors, as an ETF streamlines the process of onboarding fiat into this industry, stating:
“Retail traders do not want to have to worry about securing a Bitcoin wallet, where do they buy it from, using the different exchanges. So if all they have to do is to click on their E*Trade, Scottrade, Interactive Brokers, 401k (etc.), to buy an ETF that gives them exposure to Bitcoin, but not allow them to experience the risks of holding it, that is a very powerful way for them (retail investors) to get involved”
Closing off his time on the show, Hayes tripled-down on his $50,000 price prediction, expecting that a positive ETF verdict will push the price of Bitcoin to the stratosphere.
While some may be skeptical of his analysis and speculation, Hayes perpetually keeps his ear to the ground of this industry, so it is likely that his statements hold some credence.Read in full https://ethereumworldnews.com/bitmex-ceo-bitcoin-etf-adoption-50k-prediction/ |
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This is good news but would the holders really waste their cryptocoins to buy some movie tickets and popcorn? Did RapidzPay really think people will start using their bitcoins to buy useless things because they made an app?  Major Cineplex Group has partnered up with the mobile app RapidzPay in a move to allow its users the ability to use cryptocurrencies to pay for various services at the movie theatre’s numerous locations.
RapidzPay is an application which delivers personal and corporate payment solutions through a decentralized blockchain-based platform. In order for merchants to collect cryptocurrency payments, they have to integrate the RapidzPOS. Individuals can then use the mobile app to buy any services they need, paying with their digital currencies.
Speaking on the matter, Chanya Tamrongweenichai, Director of Marketing at Major Cineplex Group noted:
With RapidzPOS and the RapidzPay mobile app, you’ll be able to buy any services and products from us, such as movie tickets, popcorn and other different products with cryptocurrency. […] Also, we believe that RapidzPay will expand to our other businesses and lead the change for Thailand’s financial ecosystem to be cashless. Read in full https://bitcoinist.com/thailands-largest-movie-theater-chain-accept-cryptocurrencies/ |
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They'll have to shift to something else, but who knows what the hell that will be. Also, competitors will be nipping at their heels - everyone wants a piece of that billion dollar revenue pie.
I reckon Asics for the other mining algorithms which they already begun, but that will not be enough. They want to manufacture a machine for all highly liquid cryptocoin. Then diversify to cryptocoin hedgefunds hehe, or maybe datacenters for blockchains? |
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I reckon all the casual holders have sold and left Aeon behind for good?
The price has been very flat since March. That is 5 months of what I assume would be some accumulation by the whales in preparation for the next pump hehehe.
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