Well it is now in one of the largest mainstream news agencies, so it must be real hehehe. Is the India FUD the new South Korea FUD , and South Korea the new China FUD? I can see a connection here. Which Asian country will declare their disdain for the cryptospace next? I reckon Singapore.  Bitcoin's rollercoaster ride has taken another plunge, and India may be to blame.
The price of bitcoin dropped below $8,000 on Friday before recovering slightly. It had slumped Thursday following a new broadside against cryptocurrencies from Indian Finance Minister Arun Jaitley.
By Saturday morning, the price of the cryptocurrency had rebounded to $9,239, according to Coindesk. That's still a far cry from the near $20,000 price it reached in December.
India will "take all measures to eliminate the use of these crypto assets in financing illegitimate activities or as part of the payment system," Jaitley said in his annual budget speech.
While India's cryptocurrency market is still relatively small, analysts say it has the potential to grow rapidly as bigger markets such as China and South Korea enact their own crackdowns.Read the whole article http://money.cnn.com/2018/02/02/technology/bitcoin-8000-india-crackdown/index.html |
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@Peeps Place. That is what I mean! There are newbie accounts made to accuse and disparage a new service of wrongdoing and scamming. I have not seen a trusted account make a good review of bitsport.bet.
Also, there was a time when they had a deposit bonus when they first came here and the people here made multiple accounts and cheated the site. So of course bitsport had to lock some of those accounts to the best of their judgement. That was the time the accusations started against them.
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Where does that fight bring Valentina Shevchcenko in the flyweight rankings? Is she next to challenge for the championship or does she need to fight another contender?
@eaLiTy. I am more surprised that it was not a unanimous decision for Lyoto Machida. He won the 5 rounds I reckon.
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i like verge the most from dogecoindark to verge and still active until now what good on it is you can choose if you want to make private transaction
I hope no one listens to your shit comments and recommendations. Both those cryptocoins are below average with development teams that only have full stack engineers at best, with no real cryptographers, mathematicians, and true computer scientists. Only Monero has the best development team after bitcoin's developers. |
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@Febo. That means the interest from the market has gone, apart from the Aeon community and our very own market maker. I know who you are hehehe. I expect Aeon to go down further and hopefully low enough to hit my bids. Also, here is a chart update. Aeon is still in a good range but you know what to do if it goes below that lower trendline hehe.  |
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I have seen many known bitcoiners who are considered oracles that have made the wrong arguments concerning proof of work's wasteful use of a limited resource.
Some of their arguments are bitcoin is pushing for the use of renewable energy. What? If there was one that matters then please tell us about it.
Another argument is but the banking system uses more electricity. Ok turn off the whole banking system now. Let us see if bitcoin can handle everything.
Very stupid arguments from supposed to be smart people.
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@Baofeng. My bet is on Lyoto Machida. I know he has not shown any good performances after strict USADA tests were urged, but I reckon he might counter Eryk Ander's natural wild propensity in this fight and get a win by knockout.
Also excited in Valentina's fight. She is a very sexy fighter hehehe.
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What about gold minus speculation? That's probably around $20-$50 of actual usage too.
There can be two types: one type is "same fool". You know perfectly well that the asset is worthless in itself, but you firmly believe that others believe, and will continue to believe, in the SAME value (more or less) than you are going to spend it on. Gold is of this type. Famous old paintings are of this type. It is a "store of value". This is a belief that can last for a very, very long time. The other type is "greater fool". A pyramid game. You know that the asset is worthless, but you expect to be amongst the early birds in a mode phenomenon, where you'll find a greater fool to sell your asset for MUCH MORE than you paid for it. In order to stimulate this even more, there needs to be a megalomaniac story that it is ACTUALLY a very useful asset of some future important capital with strong fundamentals, but that only visionaries can see it. Say, the "monetary system of the future". This kind of stuff always ends in a bang. Now, go and think: most people buying bitcoin, do they do this because there are obvious fundamentals (which are not a megalomaniac story that won't work if you think about it 5 minutes) ; do you think that most people do it to put their savings safe, without an expectation of a lot of return, just a safety against loss ; or do you think that most people bought it to sell it to much higher bidders ? What is YOUR motivation ? Well, then you know in what category we're playing... I reckon you are making up the term same fool, I had to do a google search but I found nothing about it hehehe. In any case, I disagree with your assessment of gold as compared to bitcoin. Look at this chart, https://www.bullionvault.com/gold-price-chart.do then zoom it out to 20 years. It also shows that there are also greater fools in the gold market but with lower volatility. That is because gold's lower volatility is caused by higher volume and higher liquidity. Gold's daily volume is an estimated $125.3 billion per day. It is clear that if bitcoin reaches that level of liquidity, its volatility would also go down, for reasons you already know. |
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@gentlemand. But they did not discount speculation. It is the precise reason why they are under the impression that bitcoin is still trading up above its true fundamental value of, according to their calculations, $20.
This is their reasoning.
The supply of bitcoin increases only slowly towards its famous fixed limit and is now around 15m. The use of bitcoin as a means of payment is currently around $100m per month, or $1,200m a year. Were bitcoin just like ordinary money each bitcoin would be used around four times a year in making transactions. So we have 60m bitcoin payments supporting $1,200m worth of bitcoin transactions, which requires that each bitcoin is worth $20.
They also said that for bitcoin to give grounds on its present value, utilization must increase by 1000 fold.
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@alyssa85. They are economists, and for that reason they always look for an investments' fundamental value. I reckon something like bitcoin is defying what they have studied about their whole lives. Also if bitcoin proves them wrong, they now would have to question their PHDs and their beliefs.
But I do agree that what took bitcoin to $20,000 was speculative mania.
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It’s clear that the Council doesn’t view Bitcoin as a viable alternative to gold. Whether or not it can position gold as a viable alternative to Bitcoin, however, remains to be seen.
Why do they have to keep comparing bitcoin with gold? Bitcoin is its own type of asset and they still do not understand that fact. What they should do is put bitcoin on one side and put gold on another side.
Maybe those people are only presently trying to attack bitcoin in its moment of weakness in the market. However when bitcoin starts going up, they stay quiet again.
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It is another country doing their own kind of FUD all over again. First it was China, then South Korea then now India. It is all the same. The crux is they cannot stop bitcoin and the whole cryptospace because it can tower above man made laws, and it is doing it today.
I reckon to stop the cryptospace, they would have to ban the internet.
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Is it time to realize that bitcoin's high price principally came from speculative sources and not real world utilization? I know I will get a lot of negative replies by saying it, but a simple look at the market shows that it is true. With the speculatory mania gone, what does the bitcoin market really have?  Richard Jackman, an economist at the London School of Economics, and Savvas Savouri, an economist at Toscafund Asset Management, however, estimate the coin is still trading far higher than it should.
That number, according to Jackman and Savouri, is a mere $20. Here's their logic:
The supply of bitcoin increases only slowly towards its famous fixed limit and is now around 15m. The use of bitcoin as a means of payment is currently around $100m per month, or $1,200m a year. Were bitcoin just like ordinary money each bitcoin would be used around four times a year in making transactions. So we have 60m bitcoin payments supporting $1,200m worth of bitcoin transactions, which requires that each bitcoin is worth $20.
There's always a "but" with such analysis. And the "but" in this case is that bitcoin could be worth its current value, but it would have to see a 1000-fold increase in its use as a form of payment. Read the full article http://www.businessinsider.com/2-economists-just-eviscerated-bitcoin-saying-it-should-be-trading-at-20-2018-2 |
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What would this mean for the value XEM coins that are held in the hackers' wallets? Will all the XEM sent from those wallets be at a lower value than what is quoted in the exchanges? This is a good example on the broader issue about the fungibility of cryptocoins, and this is what the for privacy cryptocoin advocates have been arguing about. Full transparency on the blockchain is not absolutely good. As suggested by gentlemand. The hackers' only hope is to ransom those coins. I hope they are smart enough to accept a private and fungible coin hehehe. Accepting bitcoin will only expand their problems.  Reiger had previously told CoinDesk that his group was tagging accounts containing stolen XEM. His team also helped develop a system to automatically flag any stolen XEM, as well as the accounts they appeared on.
On Wednesday, The Japan News reported that the stolen XEM was transferred to 20 different accounts over the course of five days, with a series of transfers on both Jan. 26 (Friday) and Jan. 30 (Tuesday). The newspaper further stated that the Metropolitan Police Department was investigating these transfers as a possible attempt at slowing the investigation into the actual hack.
The Japan News further claimed that nine different accounts each received at least 11,000 yen.
It is unclear where The Japan news received its information from. The NEM Foundation declined to confirm the report's claims.
In its statement, the NEM Foundation noted that it would be difficult for the hacker to liquidate most of the stolen XEM, and the token's developers were continuing to monitor the accounts regardless.Read the full article https://www.coindesk.com/nem-foundation-refutes-exchange-news/ |
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@estenity. So what? That does not mean anything if the orderbook is very illiquid like HitBTC. Also, why should we risk our Aeons in a suspicious exchange like that?
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@moderators. I love reading, speculating and commenting about the news on everything in the cryptospace. But the altcoin subforum has become so full of low quality threads, and it has become so hard to discuss about important altcoin news events.
Can we have a press subforum for altcoins? Thank you.
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Sberbank does not plan to provide cryptocurrency exchange to retail investors but is looking to operate on the institutional level.
This is bad news for ordinary cryptocoin users like us. I reckon that will be the future of cryptospace trading, especially to all of you ICO lovers out there. The bankers want control and they want to take our freedom to trade with each other away from us.
But we will see. It will not be that easy for them to control the cryptospace just like it is not easy for media companies to control the sharing of music and movies in bittorrent.
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If the hackers did their research well, then they know they only need to trade their stolen XEMs for one coin. Monero. Once they do, there is no way anyone can trace them.
The hacker really only has one option - send the coins back for a ransom. Otherwise those coins are toast. There aren't many XEM exchanges. There aren't any XEM mixers. The coins are being tracked closely by the NEM foundation, Coincheck and plenty of individuals. If the hacker offloads them OTC then the buyer has the exact same problem. Not the cleverest coin to nick. If the hackers decide to go on that path then I hope they would be smart enough ask and for Monero payment hehehe. Bitcoin, although still the best as a store of value cryptocoin, is not as good for any kind of ransom anymore. Exchanges are now willing to lock dubious accounts and mixers can also be closed down as what we saw with Bitmixer. |
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@boomboombazookajeff. Well that is nothing new. People always get burned by the market hehehe. I am more worried about Aeon's code rebase. I fear that none of the code submissions will pass the smooth standard, bringing us back to zero again.
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bitsport.bet..........................accepting deposits with many unpaid players.
@Peeps Place. Are there any updates on bitsport.bet's status? I checked their account here in the forum and it has no red trust. Does that mean all the accusations are perhaps fake? I noticed that some scam accusations are odds on from farmed accounts.
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