I get the point for your thread and commend you for the effort to pin the different aspects of this system to the SWOT analysis model/tool. It took some effort and time to pair the different aspects of the merit system into the different categories of this tool. I hope someone can glance at this analysis and improve on the WEAKNESSES and THREATS of this system. Thank you for the time and effort, I will give you +1 sMerit for your positive contribution. Most people only criticize this system, but you highlighted both the positive and the negative aspects of it.  I get the point, but I do dislike too much this attitude from the user: I have the same sentiments with you. The intention of merit is to prevent spammers and encourage us to make quality posts. However, what is happening now is instead of making posts to share your knowledge and learn from one another, the forum community is now posting for the sake of earning merits (especially the low rank members like me). This is the link of my first thread : https://bitcointalk.org/index.php?topic=4468266.msg40069856#msg40069856Moved the above thread twice (from altcoin discussion to service discussion (altcoins) to beginners and help). I moved it because I noticed that the merit distribution on the altcoin discussion threads are fewer compare to other threads.He/she is moving and moving the created threads in a search for merits and encouraging others to do the same... at the end of the day all the user is seeking is to earn merits. I don't know why I just don't feel it appropriate. Also, encouraging the people to move their threads from one to another board just for gaining merits, is kind of annoying. That's why I didn't merit the user, the threads are not awesome and even this one has been moved in the user's will of gaining more and more merits by doing so. I have no problem with your decision not to appreciate OP's contribution. I evaluated his contribution, based on the content of his post. <When I saw it, it was under the Beginners section and helpful to newbies> Moving threads to the most appropriate section of the forum is allowed, but if it is done to acquire sMerit, then it is frowned on. <Unfortunately I did not pick up on that, and sMerit allocation is irreversible by the person that awarded it> Thank you for highlighting this, I will add him to my ignore list and he will not receive sMerit from me again.  |
|
|
|
We have had a close encounter with a 51% attack before, see https://en.wikipedia.org/wiki/Ghash.io and how miners quickly shifted pools to prevent this from happening. The same thing will happen, when a government funded attack like this happens. Let's say they are successful, then they must sustain this attack for it to be affective.  This news will then trigger a shift of mining power to other Alt coins and also investment capital moving to these coins. <A lot of these coins do not rely on POW> These governments will have to fight against the combined power of 1000s of different Alt coins and mining technologies. |
|
|
|
|
People should learn how to manage risk, before they invest in Bitcoin as a commodity. The latest price trends have shown that it is still possible to make some profits, if you are able to spot the price movement patterns. The beginners should stick to the old strategy of buying on the dip and selling on the spike, until they have recovered their initial capital investment.
Once they reached that stage where they have recovered their own money that they invested, the risk goes down considerably. The ROI should be your first goal and the profits will come much later. ^smile^
|
|
|
|
And old bitcoin users make HUGE profit, and new users Get scared.
That is the end game of gambling or ponzi. New investors will have to give $5,000 or more for 1 Bitcoin. The risks are very high. That is when the money stops coming. Now 1 ounce silver is $17/ounce only and if silver goes to $50/ounce that is 200% profit by risking $50 only. Think about it.If you are too stupid to capitalize on the volatility of a Bitcoin investment and you are one of those lazy investors that only wants to buy a couple of bitcoins and wait forever for the price to increase, then you would lose some money in the end. There is enough volatility in this market to eliminate the risks and also to make some huge profits. The people who do not have the balls to take risks or not able to manage or reduce risk, invest in things like Gold and Silver. This is why they have to come to this forum to smack talk Bitcoin, in the hope that they can get people to invest in Silver and low risk investments like Gold. |
|
|
|
According to BitClub, the bitcoin ATM connects to various exchanges and picks the best exchange rate at the time of purchase. The exchange rate however seems to be much higher than the market rate, making it a bit more expensive.
This is one of the reasons why I do not use Bitcoin ATMs, because the fees are outrageous. The idea behind this technology is to offer a cheaper alternative to the current financial solutions, but the introduction of these Bitcoin ATMs, just add a lot of extra cost to your transactions and cancel out any advantage that Bitcoin might have had over other financial instruments. Agreed, it is a good onramp for adoption, but the main focus of this exercise in these countries should be to offer a cheaper alternative to Banks/Cash/MoneyGram/Western Union and M-Pesa. |
|
|
|
People would not claim to be Satoshi Nakamoto, if they knew what shitstorm is waiting for them. When the real Satoshi Nakamoto are identified, it would be one of the biggest media circus that we would see, next to the Lady Di death in Paris. Every law enforcement agency in the world are hunting for him and would be on his doorstep to arrest him or her for some trumped up charges. They <criminals and authorities> will also try to get their hands on the 1 000 000+ bitcoins that Satoshi owns. No thanks, I do not want to be Satoshi Nakamoto. |
|
|
|
I get the point for your thread and commend you for the effort to pin the different aspects of this system to the SWOT analysis model/tool. It took some effort and time to pair the different aspects of the merit system into the different categories of this tool. I hope someone can glance at this analysis and improve on the WEAKNESSES and THREATS of this system. Thank you for the time and effort, I will give you +1 sMerit for your positive contribution. Most people only criticize this system, but you highlighted both the positive and the negative aspects of it. |
|
|
|
Why do you need to use first layer solutions if you could just use decentralized exchanges? These exchanges does not require all the KYC/AML bullshit that the regulated exchanges enforce and you can trade without any problems. Here is a list of some of the best decentralized exchanges that you can use : < I use Bisq with no problems, it requires no name, email ID or verification.> https://coinsutra.com/best-decentralized-exchanges-dex/ |
|
|
|
It seems to me that such attempts to explain the situation retroactively have nothing to do with reality. I have not found a logical explanation for the fall in prices. It seems to me that only one explanation. Someone very influential with big money and opportunities is interested in reducing the price of bitcoin or Ethereum. I am generally concerned about the ease with which hackers break the exchange. Maybe there are no hackers?
I think for the last months' someone or a group of whales from Asia are in need to sell a large portion of their positions. Could be related to new KYC requirements from the exchanges. Every big exchange have changed the rules about this. You're underestimating the power of fear. While the exchanges should not undermine the position of a cryptocurrency, the hack means that people are pulling money out of them and it influences the price, even if they aren't selling. How? Removing cryptocurrency from exchange reduces market depth and makes the price more prone to crashes as less money is needed to make the price fall more. Those who watch the charts and see the support lines broken so easily get scared and we have a chain reaction. Yes, and to make things worst, these exchanges closed their trading platform to reduce the damage. While people are not trading on these platforms, the global volume of coins in supply will increase on other available platforms and this will push up the price. Miners that are selling coins to fund their operations has to shift to other available exchanges to sell their coins and this push up the supply. If there are less people buying and more people selling, then the price will go down.  |
|
|
|
Don't bother try to track those whales just with order-book since there's too few info and surely those whales aren't dumb.
The regulated Exchanges know exactly who they are and they are reporting this to the authorities. We saw what happened recently with the SEC that started to investigate market manipulation. It would only make sense to use multiple accounts under different names to do this on a large scale and some of these whales work together on different exchanges to avoid detection. It will just become more and more difficult to detect this in the future, with the increase of the use of decentralized exchanges. |
|
|
|
Let me put this into some perspective ...
The slush fund of some three letter agencies is said to be well in excess of trillions of dollars. That alone is a lot more than Bitcoin's highest market capitalization. If you can't 'kill' a robust decentralized financial technology, the easy option is to manipulate the price.
Remember that this is potentially about ownership of the commodity. It is a zero sum game in terms of the markets. They don't care if you win or lose. I think the worst factor of this is that any manipulation is potentially made simpler when the BTC price is higher.
Remember : First they take it away from you, then they sell it back to you.
or
Buy, Buy, Buy Bitcoin, then Bye Bye Bitcoin ?
...
The OP's assertion is therefore valid and the answer is yes (considering all other price factors, actors, variables etc.,)
Excellent. This is what I was looking for, someone that can see the bigger picture. I would just change this part, " First they take it away from you, then they sell it back to you." and replace it with " First they will take it away from you at a low price and then sell it back to you at a high price." To rinse and repeat this strategy, they have to buy low and dump it at a higher amount than what they bought it at. Their actions is just the trigger for the "hype" and then the "panic" reaction in the market, when they dump again. |
|
|
|
The anonymous structure of the blockchain technology is a breeding ground for criminal activities life money laundering, drug trafficking?
No, pseudo anonymity of Bitcoin does not encourage criminal activities. The fact that we are dealing with something that has value, gives it more incentive to be used for crime. Do not forget that Cash is more anonymous than Bitcoin. Criminals do not have to be encouraged to use anything of value for crime, they just do. Bitcoin transactions are traceable on the Blockchain, under certain conditions, which makes using this for criminal activities a very stupid idea. |
|
|
|
|
The impact is not discussed yet, so I would help out there. So seeing that the Bitcoin price is based on Supply and demand, then we should conclude that if the supply is reduced, then the price should go up. <depending if the demand is still the same>
In theory, if you have less of something and a lot of people are looking for that, then the price will have to go up , because the demand is higher than the supply. ^smile^
|
|
|
|
Brian Kelly is Founder and CEO of BKCM LLC, an investment firm focused on digital currencies. ... Bitcoin cash is a must-own, says crypto investor Brian Kelly. "" Kelly also mentions the recent report by analysts at Barclays that referred to cryptocurrency as a “virus” and an infectious disease that would “never hit another high again.” Kelly notes that the moment right after such negative articles are published is when he “wants to buy any asset, whether it’s Bitcoin or not.”" Sourced from : https://cointelegraph.com/news/cnbc-fast-moneys-brian-kelly-bitcoin-is-like-the-internet-in-the-1980s So we should take the advice that he gave himself back in April and buy when all these media outlets are talking trash about Bitcoin. |
|
|
|
Sure- just like any major entity can influence any variable.
Governments, however, are likely not doing this because they stand to gain from cryptocurrency. Malta is going to see double digits GDP growth in 2018, Venezuela will be able to circumvent trade sanctions, France will lead major tech innovations. All of these advancements are happening through blockchain acceptance. Governments stand to be much bigger winners than fostering crypto businesses and activities than to try to squander the industry as a whole.
That is just it. The governments and Banks are not benefiting from Bitcoin. They are benefiting from the Blockchain technology that they stole for their own Blockchain based technologies. They want to eliminate the competition, before they launch their own technologies. The R3 group with Mike Hearn is on the brink of releasing their own technologies and they want Bitcoin gone, by the time that they are ready to release that to the public. You will see a lot of BankCoins and GovCoins in the near future, just mark my words. Let's consider this : Governments cannot stop Bitcoin by stopping the technology, but they can kill the interest that people have in buying bitcoins. Could governments with the help of Banks, be behind this falling price? Last year we saw a huge increase in the price and I was thinking that it could have been a collective buying strategy by Banks to buy a lot of coins for a synchronized dump in 2018. If the Banks bought a lot of coins last year at the beginning of the spike from $1000 and they triggered a buying frenzy, then most of the more expensive coins would have been bought by the public. So they might just have bought coins to trick other investors into buying more coins. So what is their goal? Their goal will be to break the demand for Crypto currencies and Bitcoin, by gradually dumping the cheap coins that they bought at the start of last year and pushing the price down. <Like what is happening now> They know investors will have bought at the higher end, say $10 000 to $19000 and these people would probably have lost money, when they started dumping in 2018. They saw that "demand" for Crypto currencies increased, when there is a constant increase in the price and they are now creating a constant decrease in the price to break people's confidence in the technology and also the demand for the coins. They will obviously use untraceable methods to do this, because the Banks are helping to hide the origin of this money.  They can only print a few Billions more to execute this strategy and this will go unnoticed, because it is toilet paper money.  This is the only logical reason why we are seeing a constant decrease in the price, in spite of all the good progress that we have made. It also explains the large spike in the price in 2017. Hodl on guys and gals, do not be tricked by these cheap tactics. <If this is true> Dude, I think that we should all stop with this BS and talk of price manipulation and who is doing this to us. Just deal with it. Price goes up good, price goes down also good. If you are for the long run and if you believe in tech you wouldn't mind about the price. Many people are just in for the sake of money I am sick of it and to hear people whining about the price doesn't make any sense either. If price is manipulated okay let it be you and me can't have huge effect on this playground. Just don't think about it. Dude! Just stop going through live by bending over to the people who are fuking you over. Open your eyes to the possibility that you are being controlled like a little puppet on a string. No matter what you do, you will always be the little hamster running in the wheel. Some of us are trying to analyse and question the unnatural things around us and we are trying to cut those strings and to exit that wheel. Financial freedom will always come under attack and we should highlight possible attack vectors to reduce the impact and to open people's eyes before they fall into those traps. |
|
|
|
When bithumb stops all trading activities, it will affect the number of bitcoin in the world which means to be reduced at this time. But why does this case make bitcoin prices go down? This situation seems to be against the law of demand in the economy. this confuses me. The stopping of all trading activities will have a definite impact on the price. Every day, new bitcoins are mined and added on the supply side and when you close down a trading platform, you then decrease the demand side of the coins. So, what happens if the supply increase and the demand decrease? The price will go down. This is what is happening at the moment. The price is going down, because the supply of coins are bigger than the demand. |
|
|
|
-SNIP
Criminals will definitely find a way around getting to your coins.
Yes, that's correct. Even digital money there is a risk of your life not only physical money because as what have said the statement above of my post criminals will definitely find a way around and seeing which better a good to rob. Well, physical money is a high chance of getting rob compared to digital money but it doesn't mean that in that way people adopt bitcoin, there's another alternative way not to hold your paper money. Debit card and ATM maybe one of their option. One of the quintessential elements of bitcoin is that its digitalized nature eliminates the need for a peer-to-peer transaction among users. Although this may be confused with credit transactions, bitcoin offers anonymity unlike other alternatives. Adapting into a digitalized form of payment may have its perks but criminals would exhaust all the means in order to scam money online. Although having a digitalized form of currency may be beneficial, it does not completely eliminate the possibilities of crime as hacking is rampant currently. It is still better and suggested that you do not invest or transfer your money completely in order to lessen the risks of it happening. You touched on a very valid point here. The Pseudo-anonymity of Bitcoin is also helping people from the threat of inside jobs in these centralized financial systems. Something that regularly happens now, is Bank officials working for criminal syndicates. You have an official working in a Bank and once someone enters the Bank to withdraw a lot of cash, they notify the syndicate waiting outside. The criminals syndicate also have "inside" information on the Bank balances of the clients of that Bank. So they just kidnap someone in that family, because they know how much money that person have in his or her Bank account. Bitcoin is saving more lives by just being pseudo anonymous. |
|
|
|
This is an interesting point of view, and I think you could be right.
However, they can kill the interest of LAMBO people, but we shouldn't care about them, since these are the guys who could possibly create value bubbles.
They cannot kill belief in decentralization and crypto / BTC. This community has grown from people who had and held BTC worth less than a dollar, based purely on their beliefs and idealism. No government rules will kill this, because these guys don't care about BTC's value, only about its concept.
This is exactly their goal, to stop Bitcoin from growing. They know they will not break the confidence of the true Bitcoiners and these people will Hodl on until the end. They are targeting the "Lambo hunters" that are pushing up the price and the demand for the coin. Once you kill the demand, then the technology will lose it's appeal in the public market. Nobody in his right mind will invest in a commodity that are constantly losing value and that is exactly the market that they would want to create with this strategy. I am sure that someone with big pockets are behind a strategy like this. Bitcoin is spreading day by day and we are constantly seeing good news about adoption and Bitcoin ATM's popping up everywhere and new Merchants accepting Bitcoin, but the price are not reflecting this. It is actually doing the exact opposite, which tells me that large scale manipulation is going on in the background. |
|
|
|
Good move.
However, I wonder if they bought that premium domain name for millions from its owner. ".info" is the cheapest available domain name and (mostly) not used by big projects.
The most expensive domains are sites like LasVegas.com for $90 000 000 and Carinsurance.com for $49.7 million, so this domain could never have been more than that. They have been around for a long time, so I reckon they would have made enough money to afford this. Ethereum.com was up for $10 000 000 and eth.com went for $2 000 000 and Bitcoinwallet.com went for $250 000.  The good thing is that they own both of these domains now, so there will not be confusion in the future anymore. |
|
|
|
So you don’t like bitcoin and want everyone else to leave the world of cryptocurrency make-believe because it is going to die. That was way back in February, people are still going into bitcoin. Better think of another strategy to make people follow you into your primitive world.  Please do not wake up the Shills and the Trolls, or we will get flooded by their poison again. This guy only pops in when there is a price decline to spread his poison. <See his post history> You will see a increase in negative posting now, because these people thrive on scenarios like this. They are like pigs after the rain, if you add water to the ground and you stir up the mud and shit, then they are at their happiest. |
|
|
|
|
Show Posts
