Bitcoin goes up to 20,000 $in December 2018 or below the 20,000$ P
Bitcoin will be luckly if it makes it back to $10000. It is struggling very badly to get past $7000, it's made several attempts but the sellers are out in force. The other problem is that there is no new money coming in, the public and the press have lost interest. |
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How do you think banks make money, how does a bank make money to pay its employees and business operational?
Does the bank rely solely on interest on loans from banks?
They make money with the difference between the interest paid to depositors and the interest paid to lenders. So if they pay people 0.5% on their savings account, but relend that money out to borrowers at 5%, they make 4.5% on the money. So basically their model is using other people's money to lend at a profit. |
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Considering the present market situation, which one will be more benefiting whether Daily trading or holding cryptocurrency for long time? Please let me know.
Buy and hold only works for bitcoin and a few other coins (Ethereum, Litecoin). With all others, when it pumps you need to sell, because it will crash back to earth. |
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I'm not one who would invest in precious metals, but I have noticed that a good amount of the older generations are pretty keen in investing in these metals. They see it as a way to bet against the market, and a security that will always be safe -- even in the times of a market downturn/country failure as a whole.
I personally wouldn't even want to buy these metals in those events, as I don't see the reason to. I'd rather invest in securities that go up when the market shits itself (Payroll lending companies and so on and so forth)
Does anyone here know the reason behind people loving precious metals?
Part of it is to do with WW2. Victims who owned gold coins could flee easily and carry their money with them, as gold could be sold anywhere in the world (whereas carrying the potentially worthless money of the country you were fleeing from was difficult (the bulk) and possibly pointless (you wouldn't be able to exchange it). The second bunch of gold bugs experienced the super-high inflation of the 1970's when prices were literally increasing by 15% a year. If you had gold you retained your money. Cryptocurrency in theory solves the problems that gold solves as well, but hasn't yet been put to a test in a real crisis. Whereas gold has been tested in crises and came through really well. |
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I think the potential is there, I don't know the reasons why its still low but I see the volume going down all the time, so we need more people into bitcoin again like december run in order to get bitcoin prices up. The more people excited about bitcoin means higher the price will be.
When only the bitcoin people are around prices tend to stay low, but when people from outside market rushes in on bitcoin the price always goes up. So in order for us to get bitcoin higher, we need to convince people who are not in on it to get in on it.
The reason of why the price is still down is not too difficult to understand, there is no demand to make the price go higher, all of those people that invested in December either lost their money or are scared to invest because of the huge crash that we saw, so no new money is entering in the market and if there is no new money the price will remain as it is and people do not forget crashes like the one we saw that fast, so prepare to hold for years if necessary. This. Bitcoin mania has faded from the press (which is more interested in the trade wars). And there has been no new take-up of bitcoin in commerce. Steam and others who dumped bitcoin last year, haven't bothered to reinstate it. |
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Bithumb was hacked yesterday and the news has been spreading in the major media for at least 14 hours now based on the article times[1]. price however has not shown any reaction to the news and on top of that in the past 14 hours we have had a rise. granted it was a small rise but still it reached $6841 a couple of hours from this news. is this a good sign that we have reached the absolute bottom?[1] https://www.ccn.com/breaking-south-korean-crypto-exchange-bithumb-hacked-thieves-steal-30-million/That's because it was XRP that got stolen, not bitcoin. The only reason for the bitcoin price to go down is if bitcoin is stolen and people are afraid the stolen coins are going to get dumped on the market and they want to sell before the dump. If it's an alt stolen, it's the alt that is going to get dumped, not bitcoin. |
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I bet most of those complaints were for last december and January where people were sending their money to their own wallets and it wasn't arriving.
Nothing to do with Coinbase and everything to do with how congested the blockchain was. I think some mempool backlogs didn't clear for three weeks.
But noobs wouldn't understand the technical reasons for the money being "lost". A big reason why the price tanked since Jan is the poor performance of the blockchain and mempool. People hadn't adopted segwit, people hadn't batched transactions. And blockstream blocked increasing the block sizes. It was the perfect storm and helped ruin bitcoin's reputation.
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The price is at $6732. The hacks are only an issue if you think coins are going to be dumped on the market. However it appears most of the coins stolen are alts not bitcoin. |
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$31 million in the hand of hackers.....Bithumb Why?
When will all these crypto hacking Stop for the sake of
mooning?
The exchanges need to a) beef up their security and b) get some insurance against hacking, so that if they're hacked neither they or their customers suffer. |
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Good day, just want to share my experience,
I am using 2fa as my security in my emails and exchange accounts, so one day I nearly lost my phone and that phone holds majority of my pins, 2fa, etc. so I thought I lost all, luckily I found the phone. So now I'm thinking of buying an extra phone for backup. What else do you recommend for backup?
The best backup is an old-school notebook where you record all passwords and pins and then keep the book safe. |
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Part of the reason for the surge last year was all the hard-forks. People were buying bitcoin to get their "free money". And once they got their coins, they started selling in December/January and cashed out for a nice profit.
Also -the ICO crazy last year propped up bitcioin, because in order to buy into an ICO you needed to buy either bitcoin or ether first with fiat. The drop in ICOs means a drop in buying pressure for bitcoin and ether.
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In Argentina, Banco Masventas revealed that, starting next Monday, it will allow its customers to make cross-border payments using Bitcoin.
In partnership with the Latin American market startup, Dicks, founded in 2014, this bank will use Bitcoin as a means of payment for cross-border transactions, as an alternative to the traditional Swift system.
This is great. Both Swift and Western Union are horribly expensive. Lets hope more banks see the light about the benefits of bitcoin. |
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https://www.ccn.com/bitcoin-miners-in-chinas-remote-regions-are-undeterred-by-restrictions/Though Chinese authorities have previously taken various measures aimed at curtailing the trading of cryptocurrencies, the mining of Bitcoin has continued unabated in some of China’s remote parts according to a Nikkei Asian Review report.
These regions enjoy excess electricity supply capacity and are considered poor relative to the economic powerhouses of Beijing and Shanghai. They include Sichuan Province, which is fondly known as the capital of Bitcoin mining, and Qinghai Province.
In China’s Qinghai Province one of the large-scale mines is owned by the ‘fuerdai’, a term used to describe the rich kids of the country’s military and Communist Party officials and other elite. While both Sichuan and Qinghai provinces enjoy abundant and cheap electricity, the two neighboring regions are relatively poor due to their heavy reliance on tourism and the mining of ground resources. Qinghai, for instance, plans to develop cryptocurrency as an industry in the hopes of creating jobs and generating revenues for the local government.
While there were reports earlier in the year that Chinese authorities were putting in place measures aimed at severely curtailing the mining of cryptocurrencies this has not materialized. According to Nikkei Asian Review, one of the reasons why a complete obliteration of the sector has not happened is because China is keen on influencing the international flow of money. The United States already enjoys this power through the U.S. dollar and cryptocurrencies could do the same for China.
“Xi [the President of China] desires this power for China, similarly to how the U.S. seeks to retain the dollar’s key-currency status through its network of transactions worldwide,” observes the Japanese publication.
Currently, it is estimated that China’s share of the globe’s cryptocurrency mining capacity is around 70%. Hopefully Quebec and other places will see the light about letting bitcoin mining happen in their areas.
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There 7 cryptocurrency that are legal in thailand , its Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Litecoin, and Stellar. They also regulate the ICO. Now ICO can't be traded with fiat anymore and there is a fee for license. http://www.livebitcoinnews.com/thai-sec-confirms-ico-tokens-will-not-be-traded-against-fiat-currencies/What do you think about this regulations? I think its fair enough and i do think in few months 7 of this coin value could be increasing if more country has the similar regulations such as thailand. I suspect that they will eventually increase that number to add more of the reputable cryptocurrencies. It will stifle the progress of this industry in their country if they hold back the rest of these. Still it is positive that they are declaring some cryptocurrencies as legal. This shows that they recognize the importance of the new technology. I think they're trying to protect their citizens from scams and they think those 7 coins are fine. Don't blame them - there are so many coins out there that are shady. |
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Futures will only have destroyed bitcoin if some of the players were manipulating the underlying market as well.
As in, make a big leveraged bet on the futures market, and then dump real coins in the underlying market, hoping the underlying market is more liquid and easier to manipulate.
But to make that work they would have had to have acquired a lot of coins at a below $6000 price so that they're in the money whatever they do.
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i put full trust on technical analysis
This is a bad mistake.Technical analysis do not work in a market without any regulation or logic. Currently, BTC is a purely speculative market. People are trying to find a price which represents bitcoins value. Additionally whales do manipulate the market to make personal gains. TA's are probably the least you can trust in the crypto world. Agree. Bitcoin isn't big enough for TA to tell us anything about market psychology. |
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There isn't any good bitcoin marketplace. However, if you are prepared to accept Steem, then there is a decent steem marketplace that accepts both steem and steemdollars: https://www.peerhub.com/There are even second hand cars listed on there, as well as lots of crafts and stuff. |
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Another bitcoin friendly bank: https://www.coindesk.com/metropolitan-bank-crypto-bitcoin-clients-millions/To most banks in the U.S., cryptocurrency businesses are pariahs. To Metropolitan Commercial Bank, they're "pioneers."
At least, that's how the New York financial institution's chief technology officer, Nick Rosenberg, describes them.
"We're certainly very interested in growing this vertical," Rosenberg told CoinDesk of the bank's crypto clientele. "We've learned that it's a serious industry. There are some very smart people involved. There are some very interesting ideas coming out that could really change the way people do business."
While most banks cling to the adage "blockchain not bitcoin," Metropolitan stands out simply by being one of the very few to enthusiastically court deposit business from crypto firms.
These clients include a few exchanges, as well as hedge funds and other crypto investors that bank at Metropolitan because it's easier to quickly move their money to those exchanges. (To be clear: the bank only handles fiat for customers and does not touch crypto itself.)
So far, it's proven a lucrative niche for Metropolitan. In the first quarter, cash management and foreign exchange conversion fees from cryptocurrency clients totaled $3.4 million, the bank disclosed in an investor presentation. This helped drive a more than 300 percent increase from a year earlier in Metropolitan's total non-interest income, to $5.4 million, according to a Securities and Exchange Commission filing.
If that doesn't sound like a lot of money, keep in mind that Metropolitan is a community bank |
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The Ministry of Finance of Germany signed the Decree on recognition of bitcoin legal tender. The document specifies that purchases made for cryptocoins, are not taxed!What do you think about it?
This is incorrect. They have made using bitcoin legal. But it is NOT "legal tender". Legal tender means that retailers HAVE to accept it, and only the euro is legal tender in Germany. Retailers can refuse to accept bitcoin which means it is not legal tender. |
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Use a mechanical system.
So if the price is up 10%, sell 10% of your coins at that price. When it goes up another 10%, sell another 10% of your coins. That way you are always banking profits, but still have some coins left in case it moons.
And when the inevitable crash comes, then use some of your profits to buy back at a lower price.
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