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8621  Economy / Economics / Re: Bitcoin prices will continue to fall on: February 01, 2019, 05:41:03 PM
Many so-called 'experts' are giving their own, similar opinions that it's really not that interesting to read analyses anymore; they literally are just echoing each other out which, in turn makes their opinion somewhat legitimate or correct. Let it do its thing, I'd say, as there is literally no reason for the price to appreciate seeing how gloomy the markets had become in the past few weeks. The best thing to do during these situations is to just buy and buy as long as the price is tanking, as what 1Referee pointed out.
8622  Economy / Economics / Re: Romania has approved a 10% tax on profits from cryptocurrency trading on: February 01, 2019, 04:53:28 PM
How are they able to monitor profits ?
For example, investor trades on Binance and then exchange crypto on fiat at localbitcoins. How government will control it?
As to legit payments and transactions, on the one hand it is an advantage that Romania accepts crypto and Blockchain technology. On the other hand, they limit traders and investors. What do you think about it?

They would collaborate with such organizations, of course. The governments always have the power to seek records even on private institutions if they so do wish, provided that they have given the rights to do so. I wouldn't be surprised if Romanian cryptoexchanges add this to their ToS after the approval of the 10% tax on profits from trading. This is bound to happen on other countries too, perhaps not on capital gains but on other aspects they see bitcoin and crypto being taxed.
8623  Economy / Economics / Re: Do you think Institutions secretly HODL Bitcoin? on: February 01, 2019, 02:13:59 PM
They may be, knowing how crazy the last 2017 run was, they know that the money is still present in bitcoin but they just don't know when to invest, and so they might be starting to buy now. Who knows, no one will ever admit that they are invested or associated with bitcoin, and so there are never any reports of big institutions claiming that they hold and store bitcoins. Some might be gearing up already if bitcoin gets big, and for sure everyone wants to be the first in line and the one with the most influence, though we'll never know.
8624  Economy / Economics / Re: Crypto as a payment method for goods: what to expect in 2019 on: February 01, 2019, 01:33:33 PM
Crypto payments wouldn't really hit it yet IMO knowing that there aren't enough merchants accepting the said payment method. The problem is not on the buyer's side but on the selling side, as most are still hesitant to integrate cryptocurrencies into their checkout pages. Bitcoin is fast, secure and reliable in itself, but the price is what makes the conflict for most merchants. Market capitalization and high price alone wouldn't seal the deal, you also need price stability if you want the merchants pouring in.
8625  Bitcoin / Bitcoin Discussion / Re: Reports of bitcoin environmental damage are garbage on: January 31, 2019, 04:21:31 PM
Here are a few simple facts.

1. Approx 90% of bitcoins mined are sold to pay for the electric.
2. That equates to $5 million a day on electric costs, sure some might be green, but some of that that electricity could be used by someone else that subsequently didn't have the green electric.

So basically bitcoin must be wasting $2 Billion a year that is in effect environmental damage.

Hmmm, I wonder where have you pulled off these numbers. If these are facts, where are the statistics, or even a link explaining how do they get such numbers.

If bitcoin increases, more people mine and so the environmental impact is linked very closely to the price of btc.

No. If bitcoin's price increases, more people are trading more than mining. Mining equipment/machines also goes up when the price of 1 bitcoin goes up; they are, at most times, directly proportional to each other, so why would people risk their money into mining when they can just buy bitcoin on the spot and wait for the price to go up? Wouldn't that be practical and easier for them to do so? The environmental 'damage' these people are referring to is really not a problem, and if it is, then why are we turning a blind eye on industries that also utilizes a huge amount of energy? The problem is not on bitcoin's utilization of enormous amount of energy, pseudo-environmentalists.
8626  Bitcoin / Bitcoin Discussion / Re: Indian Government Invites Law Firm to Present Suggestions for Crypto Regulation on: January 31, 2019, 03:12:58 PM
I just hope they come up with a pro-cryptocurrency framework and not stick up to their old standard that seems to be obsolete for this day and age. The RBI's decisions and rulings proved to be detrimental for bitcoin and the general cryptocurrency scene's prosperity, so I guess a law firm with no other hidden agenda whatsoever would be the best (?) ones to consult if they were to allow cryptocurrencies in India. I'm not expecting a totally favorable decision and regulations for bitcoin and cryptocurrency, but I guess a fair one is still beneficial and the way to go.
8627  Economy / Economics / Re: Cryptocurrency lending business. on: January 31, 2019, 02:20:07 PM
Bitcoin loans aren't really uncommon, as it has been done for the past years and is still being done here in the forum (P2P loans and of course, BTCJam). I don't think they'd really be having a hard time getting the returns if they would ask for collateral, same as what most lenders here in the forum do. It'd be a huge market in the near future but as of now, if people can just directly apply for a loan in their banks, what need do they have for cryptocurrency loans?
8628  Economy / Economics / Re: Opinions about the emergence of new Coins on: January 31, 2019, 12:55:37 PM
1. What do you think of new coins / tokens that keep appearing

I don't think much about the emergence of new coins, unless they really offer real-world utility. Most of the new coins are just around for the money-grab, not real-world utility or even smallest of innovation, so I don't really want to get myself involved on such coins.

2. What is the positive impact of this new coin on Bitcoin

None, for as long as bitcoin is still the most widely-used and trusted cryptocurrency there is, these new coins are still there to just create wealth out of thin air.

3. What are the benefits for traders with the emergence of these new coins?

Perhaps people can find some use for them on special occasions, but for the most part I don't see any benefits on these new coins except for trading purposes, most especially creating money out of nowhere. That's why it's slowly becoming a highly-regulated area: authorities found out that the scheme is being used by people to get rich and are trying to fool the system in more ways than one.
8629  Economy / Speculation / Re: After Chinese new year BTC price will rise? on: January 31, 2019, 04:13:09 AM
I wouldn't bank on it heavily though, as there aren't any clear signs of the market improving, and past perfomances doesn't necessarily mean that it will happen again in the future. People have been trying to relate holidays and big events to price movements and always end up in disappointments. Well there are cases in which such events brought insane price action, but from the looks of the market (with low volumes on exchanges very recently), I don't think something significant and positive will happen after the Chinese New Year.
8630  Bitcoin / Bitcoin Discussion / Re: Bitcoin ATM's are popping up on: January 31, 2019, 12:31:49 AM
Seeing ATMs popping up is one thing, getting people to actually use it is another. Usually, these ATMs put up an exorbitant transaction fee for anyone who use their machines, and for most people this might sound like a go-to when they need cash or bitcoins, but once they found out that it charges crazy high fees, they might just ignore it. Anyway, bitcoin ATMs are becoming normal now, and the way I see it, these ATMs will be a crucial part of getting the word out and perhaps adoption, too.
8631  Bitcoin / Bitcoin Discussion / Re: Despite crypto winter, the industry is improving innovations and infrastructure on: January 30, 2019, 05:42:31 PM
And that is a good thing IMO, seeing how lousy the markets had been for the past few months, it's great that services and organizations are creating their platforms and not just thinking of moon and reversals. They understand that development and innovation isn't restricted and limited by price, so they continue on working while a large chunk of us are doubting and always thinking when will the price go up.
8632  Economy / Speculation / Re: Cryptos would only have value in a dystopian economy said JP Morgan on: January 30, 2019, 04:19:41 PM
So does that mean that we're already in a dystopian economy since bitcoin already has its value established on a lot of fronts, or they simply can't accept the fact that there are big names and a lot of people supporting bitcoin even if their projections tell them that it's not supposed to get any value at all. But yeah, knowing how JP Morgan had treated bitcoin for the past years, I can say that this is just another normal statement coming from their end. There are tons of cryptocurrencies that fits the description, though bitcoin surely and certainly isn't of those useless coins.
8633  Economy / Economics / Re: R u consider rich holding crypto during hyper inflation on: January 30, 2019, 12:06:36 PM
Depends what kind of 'rich' are we talking about, but I guess 'lucky' is the right term considering that you already converted your money into something else before its value even turns to shit. If you are from Venezuela and owns a hefty sum of bitcoin, I guess you can be considered as 'rich' since your money is worth more than anyone's money over there. But yeah, instead of contemplating about being rich or not at a poverty-stricken country by owning bitcoins, I guess one should be thankful on having a tool to combat hyperinflation while still living over there.
8634  Bitcoin / Bitcoin Discussion / Re: Why Bitcoin need Mixer services! on: January 30, 2019, 10:39:37 AM
Living in a society wherein the word 'anonymous' is synonymous to 'shady' and 'illegal,' you'll surely have groups of people opposing the idea of anything normal done in anonymous ways, and mixers are no exceptions. While true that there are people who use mixing services to cover-up their nefarious doings, there are some of us left that wants to just dilute our spending activities from the watchful eyes. I get the sentiment of some people accusing mixers as a tool to cover-up fraud and scams but anonymity is also important nowadays given the left and right leaks of information, hacks and whatnot that is already plaguing the society.
8635  Bitcoin / Bitcoin Discussion / Re: Bitcoin investors now moving to gold on: January 30, 2019, 07:37:22 AM
Articles like this often surface when there aren't any good news for bitcoin. Store of value and liquidity is not an issue for bitcoin. If anything, gold's liquidity is way worse compared to bitcoin, though the latter's volatility prove that it's somewhat hard to use for store-of-value knowing how easy and fast devaluation could happen for bitcoin. As always, I expect negative news to circulate once bitcoin performs poorly. It's fine for me as long as fundamentals are catching up, which could provide a stronger and sturdier base should there be a bull run in the next years or so.
8636  Bitcoin / Bitcoin Discussion / Re: BITCOIN GLORIOUS DAYS MIGHT JUST BE HERE on: January 29, 2019, 07:02:50 PM
The fall of the USD doesn't necessarily translate to cryptocurrencies being the replacement qorld currency. Remember, we still have the CNY since the Chinese is also one of the superpowers of the world. I'd love to see bitcoin being utilized not only by normal persons but also by the governments as well, especially on using it on their reserves to replace dollar and co-exist with gold. Anyway, let's be real: no matter how much USD suffers, it'll stay here for far too long knowing how many heads are working together just to make the USD stay afloat amidst all the threats against it.
8637  Economy / Speculation / Re: Will the price of bitcoin be like a bubble, how do we react to it on: January 29, 2019, 06:13:52 PM
It already is exhibiting and behaving like a bubble, so I'm not quite sure what you're trying to say. Anyways, the only 'move' I can see that people could do in order to react to sudden changes in price is to not buy during insanely fast price increases as they are likely to be bubbles or pumps awaiting to be slammed/shut down by the bears. Also, the best move still is to pick an entry point after a huge price-crash and leave things be for a year or two. This has worked for a lot of bitcoiners in the past 2 cycles and I'm pretty sure that this method is still working and not obsolete by now.
8638  Bitcoin / Bitcoin Discussion / Re: Threats Bitcoin has survived from lindy effect on: January 29, 2019, 05:40:12 PM
I wouldn't bet too much on the Lindy effect as I haven't found any empirical evidence that supports it or that such concept really works all the time. Though I wouldn't discredit bitcoin from overcoming several crucial threats to its existence or influence, I still don't see how this endurance from bitcoin has something to do with the Lindy effect. If for example there comes something that's much better than bitcoin, the influence it has could easily crumble and crash in just a short span of time, though there hadn't been a single contender yet.
8639  Economy / Trading Discussion / Re: Beginner trader: super basic beginner questions? on: January 29, 2019, 04:32:11 PM
Do you have a separate bank account (or a Business account) for your crypto trading,, that is separate from your personal checking account?

I don't have a separate bank account for trading, but I do have multiple bank accounts and I try to keep one bank account strictly for investments and other financial stuff.

Do you register a LLC or something before you start trading?

From where I'm at right now (Philippines), there aren't any strict regulations/rule that require a crypto-trader to register a LLC or a corporation or whatever as long as you duly comply with all the necessary documents regarding your ventures. In this case, it will fall under capital gains as the gov't will consider your trading ventures as something similar to stocks (at least that's what I've been accustomed to, or not enough legal framework has been set yet.)

How do you keep track of all the financials with your trading activity? (seems easy to get sloppy with keeping exact records)

Be systematic and organized. I use Excel and the good 'ol pen and paper to keep track of what I gained and lost on a session of trading.

How do you prepare for a day of trading?

Usually by checking some articles and volumes on some exchanges. If the volumes seem to be not that high, or somewhat sloppy compared to the regular volumes on exchanges, I try to wait for a few hours before I start trading.

Do you have a office reserved for just trading?

If you can consider a bedroom an office space, then yes, I have mine.

How do you not get distracted with these forums and everything else?

Simple, I don't visit any sites completely unrelated to my current trading session or add noise to my collected signals by visiting other trading-related sites. What information I have, I use them and stick to them.
8640  Economy / Economics / Re: Blockchain technology vs philosophy (ideology) talks in Lithuania on: January 29, 2019, 03:17:20 PM
There are always different sides when it comes to giving justification on what the blockchain technology really is, and it's just great that some people are really trying to give weight on each sides by using their experiences and knowledge regarding the matter. I'm not surprised that this happens in Eastern Europe, though I'm interested as to why they chose the blockchain technology for such talks while the other parts of the world are too busy creating platforms that will give profits but not real innovation. I, too, am torn on what does the blockchain tech really offers in particular aside from being an efficient way of handling, storing and sorting data, so it's really interesting to watch how would the debate unfold.
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