You need to separate your funds between different crypto-currencies and not invest the money that you are afraid of losing.
Bad advice, if you look closely at charts, you may notice that altcoins usually go parallel, they drop together if BTC surges, so if crypto bubble bursts, all cryptocurrencies will drop, and I'd say that altcoins will suffer much harder than Bitcoin. To OP: if you are afraid of losing, you can either quit now and abandon all potential profits, or you can set a stop-loss order at the price you are comfortable with. But keep in mind that if you put them relatively high (like, -5% of current price), they might get eaten by volatility and you will suffer some loss. |
|
|
|
Did you notice that derivatives basing on ETH together with ETH may create a centralized role of ETH? This model is called 'creeping' war - step by step dethronement of BTC. Nothing will be the same. Graham's Law in force: https://en.wikipedia.org/wiki/Gresham%27s_lawDon't ever think of ETH winning the creeping war for now, because it's big price is caused probably by many ICO's out there that is happening or has been finished which mainly accepts ETH in their crowdsale. ETH won't win the war unless it has a hidden trump card to compete against bitcoin, which is unlikely because it still cannot be used to pay for services and goods online. Right now a few major exchanges suspended Ethereum withdrawals There seem to be like 300k unconfirmed transactions in the mempool (or how it is called in Ethereum) with fees skyrocketing. So, ironically, the only thing that Ethereum has likely been able to surpass Bitcoin in is the amount of money it takes to confirm a payment. I don't think this is the trump card you refer to, though it would be interesting to see how this coin is going to cope with these transaction jams if they become a regular thing like they are in Bitcoin nowadays. It kinda looks they should develop their own SegWit and Lightning Network Ethereum definitely needs to scale but the congestion seen since yesterday is a temporary one due to badly made coin offerings leading to mass transations sent in a short amount of time. Funny thing is ethereum already has a scaling mechanism but it is a very slow one to see results, each time a block is full the miner can increase the block size a little. This is a good proof that Ethereum, together with BTC, can't handle any serious amount of transactions, meaning that it's also not suitable to be your everyday currency. ETH can be interesting for its tokens, ICOs and smart-contracts, but it's also quite centralized, and can't compete with Bitcoin in terms of being the best digital storage of value. Even if the Flippening will happen at some point, Bitcoin will still be relevant and will always have its own uses. |
|
|
|
New trailer released today: https://www.youtube.com/watch?v=1Mlhnt0jMlgLots of new epic scenes and cool stuff. Many people are predicting that Sansa will kill Littlefinger. Seems like Jon and Daenerys are most likely to "win" in game of thrones. |
|
|
|
Don't know why but that amount of transactions still seems very low compared to credit card transactions... there is still a lot of space to grow...
The problem is, transaction fees are already so high that it's hard to justify using Bitcoin to purchase a cup of coffee, and Bitcoin processes 1000 times less transactions than fiat payment systems. And Ethereum or any other altcoin are in the same situation, so actually there's not much place for growth and adoption untill cryptocurrency protocols get major updates that will significantly improve their efficiency. |
|
|
|
I'm sure it will affect the price, however in a sense we've got nothing to lose. If it works then we have Segwit and the price will probably skyrocket, if it doesn't then the price will drop; however with the insane transaction fees the price will probably begin to drop like a rock anyway
I'm curious what your reasoning behind this assumption is So far we have seen the opposite effect. Bitcoin prices have been rising along with the fees, and the latter seem to have been rising even faster. That can be easily explained by the fact that fees and prices are not very tightly related to each other. Fees mainly depend on the number of transactions and the block size (whether these transactions are genuine or spammy is another question), while the price is determined on exchanges by the balance of supply and demand, while you don't need to make a transaction to make a trade Ethereum is getting closer and closer in terms of market cap and people seem to be switching to ETH or LTC to do normal trades and I'm worried that with high fees bitcoin will be overtaken by other coins; and at that point it would kill mass adoption, destroy Bitcoin's prices, and create chaos. And note that I said probably, not will. I'm not fully sure of that. Actually the gap between ETH and BTC marketcaps is growing wider, because ETH is crashing now, while Bitcoin is recovering. Also, Ethers rise is much more artificial and unstable, ETH gets attention because it is used for ICO's, so people are buying it to participate, and then it gets locked on ICO addresses. Also it gets interest from governments and banks because it's more centralized than Bitcoin. Bitcoin on the other hand is growing because it has proven itself as safe and reliable digital asset for storing and moving value and has 8 years of history behind it. |
|
|
|
Source : http://www.zerohedge.com/news/2017-05-31/real-reason-own-bitcoinThink about it: when you send money to someone, those funds move from your bank, to the central bank, to another bank, and then finally to the recipient’s account.
This is the same way that money used to be transferred 800 years ago…
… which seems almost tragically anachronistic given that we have apps today to send funds directly to a recipient’s mobile phone or email address.
Who needs a middleman anymore?
Why should anyone borrow money from a bank when there are so many Peer-to-Peer and crowdfunding platforms available?
Why pay exorbitant fees and commissions to exchange currency when there numerous websites that exchange money at almost no cost?
Banks as financial intermediaries are about as quaint as taxi dispatchers in the age of Uber.
Cryptocurrency and Blockchain technology are the final nails in the coffin, making it possible to hold your savings in the cloud rather than at a bank. This article has the same goal than me when i read the first agression-law (Europa - end of 2013) that it can take (my) saving from bank in case of bankrupt (of the bank). At this date, all my saving have been stored in crypto-space to evade from this agression-law. Nothing is 100% safe. Gold can drop in price too, governments can seize it like it happened during Great Depression, national currencies often crash. In open market value of anything can change at any given time, because value is always relative. If you are worried about your savings, you should diversify your portfolio to prevent losing your money in case of some economic disaster. |
|
|
|
Is it even that alive yet for it to die?  Sure, Bitcoin might not succeed as worlds primary currency, as satoshi wanted, but Bitcoin has forever earned its place as first decentrlized, immutable storage of value, "digital gold" if you want. This is a pretty big achievement already, as anyone in the world can easily access the Bitcoin network via the Internet and exchange their money for Bitcoin - something that sometimes can be very hard to do with other assets like gold, stocks or even simply opening bank account in some regions. |
|
|
|
Hello All,
I'm new to crypto but not new to the banking/gov game.
What are you thoughts on the bankers/gov potentially controlling Bitcoin behind the scenes putting on a show oh how they are concerned about it?
They can print the fiat to buy bitcoins.
It's not realistic that someone even considers buying out Bitcoin. It's a common misonception that there's only 21 million Bitcoins, but each Bitcoin can be split into 100 000 000 satoshi, and as someone tries to buy all Bitcoins, the price will go higher and higher, while the mass of available coins will still be staying big enough to ensure that it can be used as a currency. And it won't be hard to change the protocol to allow even more fractions if needed. It's impossible to take over Bitcoin, governments and banks would be just outlawing it if they will decide to fight. |
|
|
|
from cryptonews yesterday I find out that there is going to be activation of segwit2x in bitcoin to allow faster transaction and this is agreed by okcoin,bitmain and huobi, what do you think will happen to price of bitcoin?
It's really hard to predict the impact of any event on Bitcoin's price. Sometimes people expect that Bitcoin will rise because of some political or economical disaster, and it's not happening, sometimes Bitcoin's price increases without any big reason and people start making some explanations. There are many possible scenarios for activation of segwit2x - maybe it will trigger the new bull run and we'll reach $4000, maybe it will just be a small bump, or maybe some other events will overshadow it and the price will go down. |
|
|
|
The problem is we need to get rid of decimals. Of course 0.1 BTC = 100 mBTC but the first, in a newbie's mind, will always look like a small quantity because of the decimals. People don't like owning fractions of things, they like whole things. Also, as price grows, there will be more and more 0's after the point which will make dealing with everyday quantities a lot harder.
Yeah, we're not going to get rid of the whole decimal system bud that's just wildly dumb and uncalled for. Then no wonder if many people will get scared away from joining BTC because they find (and they're right) the price per single Bitcoin is too high and think they have missed the boat. Perhaps they will even start pouring money into other cryptos that have much more affordable entry prices. Exactly it will be demotivational as a lot of newbies are looking for opportunities to join Bitcoin but upon hearing the price of one Bitcoin it sounds like this belong to the elitist class and many may give up right from there so we indeed need to break it down and call it in satoshis. Good point, but satoshis are too small now, people don't like operating with big numbers either, usually people all over the world evaluate money in US dollars, even if they use their native currency most of the time, because US dollar is stable and can be exchanged almost everywhere in the world. So, mBtc is the best unit now, until we reach 5 digit values of Bitcoin. |
|
|
|
|
It's unclear if cryptocurrencies can efficiently scale. Bitcoin has 246 000 transactions per day, and the fees are so high that it's really hard to justify using Bitcoin as a regular currency. Now, Visa handles 150 million transactions per day. So, today cryptocurrencies definitely can't replace regular currencies, it will only become possible after major breakthrough in their development as well as some new hardware. When costs of keeping distributed ledgers will be the same or very close to as keeping centralized ledgers, then crypto will have a chance in replacing regular currencies.
|
|
|
|
Hey!
I have been considering making some sort of bitcoin gambling game using MoneyPot. My friend is a developer, who has already made a barebones provably fair dice code. I'm asking all you gamblers, what are features, layouts, games or themes you would like to see on a gambling site? Maybe you would want to have some new kind of provably fair game, what would it be like? Think about some ideas and post them here, I'll be interested to hear!
I think people would be interested in some skill-based strategy game, it can even be something original. The game must be complex enough that it won't be possible to cheat by using AI to brute force all the possible outcomes to get an edge, like it happens with chess, for example. You can control the house edge by reducing payouts - for example, the game would have a maximum of 50% chance for winning if a player plays perfectly, but the payout would be x1.98 of the wagered amount, so it will create a 1% house edge edge. |
|
|
|
|
People might think that everything is in miners hands, because they can decide what version of Bitcoin to mine, but in reality the market will decide Bitcoin's fate. If people will hold and buy UASF coin and threat it as the only Bitcoin, while dumping coins on legacy chain, miners will have no choice but to mine UASF chain, otherwise they will not be able to even cover electricity costs. And I'm sure that this is what going to happen, because majority of Bitcoin users and holders support Core and SegWit.
|
|
|
|
New technologies will create new ways to rob, steal and exploit people. Bitcoin is nothing more that digital money.
Gunpoint bitcoin robbery still shocks people because it is 'bitcoin' that has been stolen, no one would bat an eye when it was simply $2k paper money robbery.
Just remember folks, if you carry around a smartphone with a large amount of BTC, you can be targeted in a similar way.
Well there was nothing innovative in this robbery, it's not like they picked some random person and told him to take his smartphone and send them Bitcoins, they setup a meeting for the sake of exchanging Bitcoins and the victim must have chose the place pretty poorly. I think we are still very far from days when robbers will be assuming that their targets have cryptocurrency on their devices, and even if they would, it's very inconvenient for them, since they can't quickly check it. They might start stealing mobile devices and try to crack wallets, but if someone has backups, they can move funds faster than thieves can crack stolen device. |
|
|
|
When i was a new to cryptocurrency i always set the fee to normal because usually i really want to received my profit as soon as possible but even tho it's a normal fee the fee transaction is still expensive and we all know that. I think the transaction fees will bring down bitcoins i hope in the next year or months they will solved the problem about transaction fees before some altcoins will pop out and beat the value of bitcoins because of the expensive transaction fee
You are right, normal fees are not normal, they are ridiculously high, and even my "cheap" fees like 40-60 sat/byte are very expensive, because if you are paying 0.0005 BTC for 0.01 BTC transaction, that's a 5% fees - something that rarely happens even with fiat transactions. I have a feeling that miners are just preying on people's fear of uncertainty, people are afraid that their transaction will get stuck forever and lost, so they want it to get confirmed asap, which makes them to push fees higher and higher. I won't be surprised if we find out that miners are behind spam attacks and that they are doing everything they can to keep fees as high as possible. |
|
|
|
Come to think of it guys, This forum is full of Anonymous users. We barely no each other yet Millions of Dollars worth of Bitcoin is handed to Trusted Members for safe keeping. Even non Anonymous Social Media like Facebook and Twitter would not encourage you to trust the most trusted person on their platform.
Why am writing this, some people erroneously equate anonymity with crimes which is why they don't bother about government obsession with centralizing Bitcoin/Blockchain believing it will keep away bad people. Facebook is a den of scammers even the owner don't seem to care. I feel safe here than the Social Media site and others like it.
The entire blockchain can be much safer than the entire World which is "under government control" if it self-regulate like Bitcointalk or even better. It takes only smart people to make this possible NOT politicians, elites and opaque government.
Bitcoin/Blockchain was created to be independent of government control. It's more transparent than the best countries on Earth. Blockchain will solve the pervasive corruption on Earth. Handing it over to the Elites and governments will end up destroying its purpose.
This place is full of scammers too. Look for Altcoin sections, were dozens of ICO scams appear each month, or Investor-based games were scammers run Ponzi schemes. "Self-regulation" is pretty weak here - all you can do is open accusation and watch scammer get red trust to his account, but most times it's just a fresh throwaway or bought or hacked accounts, and very rarely it results in return of stolen funds, which should always be #1 priority in any legal system. Bitcointalk is far from perfect, you need to be smart and experienced to not get scammed here. But the good thing is, Bitcoin's network and community can't steal money from your wallet unless you send transaction yourself, while in real world governments have lots of ways to do it - they can tax you, devalue money with inflation, seize your assets whenever they want, etc. |
|
|
|
ETH community are busy building something remarkable. Bitcoin people are busy arguing like pussies for three years while making no progress at all. Very soon ETH market cap is going to pass the Bitcoin market cap. Guess the date and win a prize!!! Presently: 43 / 35. ETH is now 81% of Bitcoin's total market cap value. It won't be long now. I guess July 18, 12:01:01! I really doubt that it is going to happen, because ETH is just a very hyped bubble with no real use and only promises so far, and the only way I see the Flippening happening is because of Bitcoins forking. So, my prediction would be August 6, as a result of messy mining and trading fight between supporters and opponents of BIP 148. But chances of this actually happening are pretty low. |
|
|
|
Can Russia or China done such a thing to erase the dominance of the dollar over the world?
Generally, there are always governments behind such technologies. For example, StuxNet
This is just a conspiracy theory. There's zero evidence that Bitcoin was created by some government, the idea of replacing USD is extremely longshot, and since they don't control Bitcoin, it's not very beneficial for them if they don't control Bitcoin. If it was really created by some government, they would openly or secretly support it in order to make it universal currency, but we don't see it happening to any degree. Satoshi created Bitcoin as response to 2008 financial crisis, as a move to cut the influence of banks from our economy, and I find this explanation much more reasonable than some conspiracy theories. |
|
|
|
In my country, I have to fill a form every year for the tax department, including my year end bank statement and the salary bill.
Together with some major bills for insurance and healthcare, that's all they get.
So I can hide cash under the bed, or have an overseas account, or have some Gold bars, etc. The goverment has to thrust me quite a bit.
They can check some transfers, but if you like to hide it, you can do it.
So the actual way of getting the real numbers is quite bad.
In Bitcoin
If the Tax department makes it a rule by law, that you have to report every BTC address you own, or every wallet you own ...
All problems solved, because then the Department has also the addresses of the petrol station and the deli you spend money.
In no time the system knows which tax counts here and can claim the respective amount from both sides.
Sure it is still possible to hide Bitcoins, but then it is illegal.
...or did I miss something?
People who will want to evade taxes will just not report all their addresses. They will keep coins on separate wallets, use multiple accounts on exchanges and other services, run their coins through mixers, exchange Bitcoins for some anonymous alts like Monero, Zcash and Dash, and then convert them back to BTC. If you are not dumb, you can hide your coins well enough. But of course noobs will be getting caught, like they are getting caught today on this forum, when they have multiple accounts and try to join signature campaigns, and when managers check their addresses, they get proof that multiple accounts belong to a single person. |
|
|
|
|
Show Posts
