Latest posts of: iconoclast

Quote from: Freegan on September 11, 2018, 07:33:33 PM

Everything seems to indicate that the market is mortally wounded, and the main cryptocurrency that had served as a means of payment for those who participate in bounties (ethereum), has lost the confidence of investors and developers who are looking for new alternatives to face the lack of capital willing to take risks in this market. Therefore, it is likely that the bounty hunters will have to settle for peanuts as of this year.

And now, when after three or six months of participating in campaigns you are compensated with tokens without any value and you realize that this business is dead, what are you going to do, bounty hunter?

Can't speak for anyone else but I think this is a great time to be doing bounties. Now that ETH is oversold it is a great time to accumulate coins that will be worth so much more when the bear market ends and a new bull market begins. The end of the hype is also chasing all the stupid money out of the market which is good for its long term health. Sorry to pop your bubble but ICO's and ETH are hear to stay. Just be sure not to put your earnings into Bitcoin. Its best days are behind it.

Here is a chart that shows you how much short interest has increased at Bitfinex.

The majority of the downdraft that ETH is experiencing is because of shorts and not selling by ICO's. ICO's hold only 3.7% of the ETH (3,744,651 ETH) https://thenextweb.com/hardfork/2018/09/11/icos-mountains-treasury-diar/ and have not been selling any more than usual. Short interest however has gone through the roof.

Many have notice that ETH falls faster than BTC have taken to using BTC as collateral to sell ETH short. Eventually investors will run out of ETH to borrow or ETH long investors will start moving their ETH off exchanges where they can be lent to shorts and this will cause a reversal. Expect a steep jump in ETH and a fall in Bitcoin as people try to cover their shorts.

Quote from: StephKram on September 12, 2018, 03:57:17 AM

I have been looking through the forum for potential bounties this week and most look like absolute garbage or rehashes of coins we already have. Are you guys experiencing this? I wen through about 20 projects and didn't find one good one. Looks like the days of grabbing a bunch of ICO's and hoping for the best is over. There is way to much garbage out there right now.

There are still good bounties out there. I am pretty picky about what I choose to promote and I have no trouble picking up enough decent bounties to work on. Having to go through 20 crappy projects to find one good one is the way it has always been. The only thing that has changed is that the useless ones that once got funded no longer do. But if you are willing to put in the work screening out the rubbish you can still find good bounties. Or if you are too lazy just check out my Twitter feed, link is in my profile.

Quote from: bitkanu on September 08, 2018, 01:51:27 PM

Quote from: FinanceX on September 08, 2018, 08:06:52 AM

Quote from: FinanceX on September 08, 2018, 08:06:19 AM

Quote from: singularcrypto on September 07, 2018, 04:39:08 PM

The exact need factor. If I need fiat money to shop and eat everyday it will encourage me to crypto withdrawal and trading. On the other hand in my country crypto money is still not legalized by the government, so its use in transactions is still very limited and is still at least once to be used as a means of buying and selling goods.

Let's hope the security measures around crypto improve and that will force countries to seriously consider legalizing with soft but fair regulations

Or just go decentralized Cheesy

Decentralized exchange still not give a lot of guarantee if you have seen the binance hacked case and binance take the responsibility to give refund for those traders are getting impact caused by the hacked case of binance, in dex and then all of the risks will have become your own responsibility.

They don't need to since they don't get hacked. Every loss suffered by anyone relating to a decentralised exchange has been that they got tricked into logging in to a fake web page. That is not in anyway the responsibilty of the exchange. I have also seen centralised exchanges suffer losses caused by their failure to manage margin and then pass this loss to all their customers. Sorry, but if you keep your coins on a centralised exchange you are an idiot. Not only do you run the risk of hacks but you are also going to get hit if the exchange becomes insolvent. Not to mention the fact that some exchanges will lend your coins out to people who want to sell them short.

I think a lot of the downdraft Ethereum is getting is from people shorting Ethereum. It is only in the last little while that we have seen exchanges offering margin. People are taking advantage of this by using it to create short positions. The basic trade that I think a lot of traders have been making is using BTC to Short ETH. Since ETH is more volatile than BTC and the markets tend to move in tandem any move to the downside creates profit from the larger drop in ETH than the loss you suffer from BTC. If the market moves the other way and ETH rises it probably mean BTC has also risen and limited your loss. Exchanges have also been reporting that short position have reached record levels.

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Quote from: KenziCharlie on September 10, 2018, 03:20:23 AM

So I haven't been following Bitcoin for the past 6-7 months. Has anything noteworthy happened in that time frame?

Not really unless you count the repeated failure to get a Bitcoin ETF listed as noteworthy. Since Bitcoin is incapable of evolving without hard forking some shitcoin its progress is completly determined by its regulatory outlook which remains opaque and slightly negative. I doubt anything will change very much in the next 6 months either, except that its share of the crypto universe will continues to decline when the alts recover based on progress and real world use while bitcoin languishes waiting for a change in attitude at the SEC.

Quote from: akashark on September 08, 2018, 08:44:41 PM

A few days ago, I posted That ETH is going to 200 USD? That was my fear, not an actual prediction! And, today, Ethereum hits its lowest price of 2018! 190 USD! What's going on guys? Why is Ethereum price dumping incredibly? I just can't believe my eyes! Do you think ETH can recover its price this year? My answer no.

Depends on what you mean by "recover its price". If you mean go back up to $1400, then I think that is very unlikely. Back north of $400 by year end though is possible. People need to stop thinking in terms of what happened last year between September 2017 and February 2018. That was an anomoly and is not going to return even if the SEC grants permission to every Bitcoin ETF. Cryptocurrencies have had their bubble phase just like the Dotcom bubble at the end of the last century. The bursting of that bubble did not mean the end of the internet, just like this one won't mean the end of the blockchain.

Quote from: ph1lloops on September 09, 2018, 10:24:48 AM

Hello,

I just woke up and got an email that someone logged into my Bitfinex account. My balance went down to near zero and i was shocked. I saw no withdraws but I freezed the account immediately.
I checked everything and saw, that someone hacked my account and sold all my cryptos for BTC, then the BTCs were traded from BTC to ZIL back and forwards a lot of time. They were sold low and then bought back high with my account until my balance war near zero.

I wrote to Bitfinex but I don't have an answer until now. What should I do now? Do I have any chance of getting my Coins/Cash back?

Thanks a lot!

Your only hope is if Bitfinex rules that the hack was their fault and not yours from maintaining poor security on your account. You should never keep your cryptocurrency on a centralised exchange. Keep it in your wallet or on a decentralised exchange where you maintain control. Not only do you risk your money being hacked on a centralised exchange but you also leave yourself open to risk if the centralised exchange becomes insolvent and it also means your coins can be lent out to people who want to short your coin.