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9261  Economy / Speculation / Re: Where is all this new trading volume coming from? on: May 10, 2017, 01:47:48 AM
Bitcoin 24 hr volume exceeded $1 billion in 24 hrs last week (with the entire crypto market exceeded well over $2 billion). Thats like a 10 time increase over the last few months. At first I thought it was just pumpers going crazy but now it seems like an established trend.

Where is it all coming from?

What will the volume be like in 6 months?

Japan is going wild with Bitcoin, much more to come guaranteed. They will save billions of Yen only by using Bitcoin, it will give there stagnated economy a little boost.

Many here keep saying this but they fail to explain how. Once someone asks them to explain the whats and hows, they start ignoring you.

Please explain how Japan will save billions if they start using Bitcoins and in what financial sectors they should start using it.
9262  Economy / Speculation / Re: sub 1000 gone forever on: May 10, 2017, 01:33:08 AM
Nobody ever made respectable or insane amounts of money betting on the overdog. Same goes for Bitcoin. I've been on the ride since 300 and I'm still hanging on, and if anything just ignore the FUD and watch the price every now and then. Just know that one piece of information and a whale seeing it can cause price to dump and traders anguish. One reason to just buy and HODL and not trad, not saying trading isn't good for Bitcoin but I personally stopped a while ago.

As for 1000, I'm convinced we could possibly hit near that if something goes amiss. It won't be the end of the world but an annoyance in Bitcoin's journey to the moon.

Here is a thought. Bitcoin could be rewriting the way of trading trading strategies as we know it. Evidently we have not seen something like this before in all of human history. Some may compare Bitcoin's story with the Tulip Mania. That is a big mistake. Tulips do not have real world use in finance and markets. Bitcoin does and it is changing everything.
9263  Economy / Speculation / Re: $2000 anyone? on: May 10, 2017, 01:25:41 AM
The price of bitcoin right now is 1689 US dollars according to preev and if the rise continues, we will soon see and break the 2000 dollar mark and it might be the new all time high before bitcoin goes back and stabilize to a price where it really should be now. If the block issue is solved I guess we would see 2000$ sooner. Well the sooner the better and the sooner bitcoin goes up to 2000 dollar the better profit holders will get.

The block size debate will take a very long time to solve in my opinion. Segwit activation in Litecoin will slow the process for Bitcoin because the developers of technologies that are served by Segwit like the Lightning Network and other off chain implementations will start developing them on Litecoin.

LTC at $100 next year is now very possible.
9264  Economy / Scam Accusations / Re: Is poloniex scamming customers on: May 09, 2017, 02:04:45 AM
OP, no of course not. Why would they start scamming their users now that everything is going really great for them. They are now one of the largest cryptocurrency exchanges around. But I do agree that they are lagging especially when there is an extremely high volume of trades happening.

They should upgrade their system. Maybe the exchange cannot handle the full peak load.
9265  Economy / Trading Discussion / Re: Does speculation affect bitcoin trading on: May 09, 2017, 01:58:11 AM
I have been into forex trading for a long time and know from experience that market speculation is a norm but I would like to have you view on bitcoin trading and what affects the price movement?

I would like to say that I do not believe that you are an experienced forex trader and that you have been in it "for a long time". If you really were you would not ask this mundane question.
9266  Economy / Speculation / Re: Where is all this new trading volume coming from? on: May 09, 2017, 01:52:47 AM
Bitcoin 24 hr volume exceeded $1 billion in 24 hrs last week (with the entire crypto market exceeded well over $2 billion). Thats like a 10 time increase over the last few months. At first I thought it was just pumpers going crazy but now it seems like an established trend.

Where is it all coming from?

What will the volume be like in 6 months?
It was probably from what i heard massive spam attack when one address were sending money to itself over and over again.
It wasn't confirmed so he doesnt lost money on transaction fees but it created fake volume probably.

You can check if this volume will last for more weeks to come it will tell the truth.

I do not think he means transaction volume in the network. He is talking about total trading volume in all of the exchanges.

What btcforall777 failed to post is the volume of Bitcoin. http://coinmarketcap.com/currencies/bitcoin/#markets

I do not check that often but it was shocking to see that a once upon a time small exchange like Poloniex is the one carrying the majority of volume in Bitcoin.

9267  Bitcoin / Bitcoin Discussion / Re: will bitcoin activate segwit as litecoin price peaks at 30USD? on: May 09, 2017, 01:32:22 AM
everyone is talking about "activating" segwit.

sorry but please READ the documentation.
activating it is meaningless.. its about USING segwit keypairs to achieve the (half baked gesture) promoted hopes segwit may achieve.

so maybe its best to let segwit run on litecoin and then see if all the (half baked gestures) do reach the HOPES segwit once was promising, but now reworded as 'expecting' or 'stepping stones' towards X.

which can only be done by seeing how many move funds to segwit kys and how the mempool bloat gets affected by people rushing to move funds across and the network benefit/issues it may cause.

then before doing any mandatory implementation or any pow kiling threats for bitcoin. you blockstreamists can actually see if segwit actually fulfils the (cough cough) promises.

if not.. the blockstream better decide to rewrite their code to be a proper 1 merkle 4mb single block with real features, and not just try pushing the cludgy 2merkle soft half baked version in mandatorily. wasting everyones time for an opportunity that could have been used better

franky1, with all due respect it would be better to write your post more in layman's terms. I know you are a very technical person and most probably a software engineer. But many of us here do not understand most of what you posted or what point you are trying to make.

Can you repost in simpler terms? Thank you very much.
9268  Economy / Speculation / Re: sub 1000 gone forever on: May 09, 2017, 01:24:25 AM
Japan being now BTC legal, I wonder, I just wonder if the Japan Postal Bank might diversify a fraction of their  2T holdings into BTC to seek some better returns than zero.

Is the 2T you are talking about $2 trillion or is it in Japanese Yen? Whatever it is, it is still a very large amount in US Dollars.

You are a writer, right? Write an article about your opinions on the matter and why it is good or why it would make sense for them to diversify. It would be good to know how the others in the community take it.
9269  Economy / Speculation / Re: $2000 anyone? on: May 09, 2017, 01:14:00 AM
I would wait till price dips down low again and buy back in. You could easilly double your postion in BTC if you did that. But, that's only if it comes back down. Which, I really think it will. That's the best part about volatility

In order to double your postion at the time you buy back, it means that the price will have to go down with like 50%, and exactly that is something I don't see become reality. That's not a correction anymore, but a massive crash. Also, as you stated, the price will need to come down in order to buy back. If you sell too soon, you'll risk falling behind as the price will likely move up further. Buying back isn't as easy as it may seem. If you time it wrong, you'll end up in a big disappointment. In that regard, for the average person it's better to just keep holding.

I agree. The risk in losing some is higher than safely holding them without doing anything. If getting very rich in this is your target then it would be better to buy more Bitcoin if the price goes down.
9270  Economy / Exchanges / Re: Price spread between Coinbase and Bitfinex is closing (as of this instant) on: May 08, 2017, 02:49:18 AM
bitfinex.com ,the price is taller than other platform,what's the reason of it ?

They lost banking access for US Dollar transfers. With dollars trapped within their exchange, the only way people holding those dollars could retrieve their funds was by buying bitcoins with them and then sending the bitcoins to another exchange. But people would only sell their bitcoins for dollars at a premium if they couldn't do anything with the dollars, so the price rose artificially within Bitfinex compared to the rest of the market. People are basically gambling over whether those dollars will ever be retrievable and if so, when?

That is the magic question that we all need the answer to. I have been asking the same question over and over and all the answers I get are "it will not be like MtGox", "Bitfinex is solvent". The people in the forum are either not that intelligent or they are trying to avoid the real problem.
9271  Economy / Speculation / Re: Bitcoin surges above $1,500 - CNBC POST on: May 08, 2017, 02:38:34 AM
That post is funny. You seem so assured that your "analysis" is a sure thing just because you studied some trading books and won a few trades in a bull run. Making money is very easy in trading when everything is goimg up.

Quote
ETH kinda belongs into the Altcoin section. And I changed my mind on it. The technology frontier is over there.

But what is the use of ETH today that matters?

Mostly rumors like David Dierking's writing about a supposed Ethereum ETF reaching market earlier than any BTC ETF might make it, and names inside the Enterprise Ethereum Alliance like Microsoft, JPMorgan Chase, Intel, Accenture, UBS and Thomson Reuters.
Use case: speculative investment. Oh, and a new ATH

Yes and the new ICO market all done using Ethereum. It is all very speculative. We do not know if those multi-million ICOs will be a success because once they run out of money how can they do another series of funding rounds? But does that use case really matter? Bitcoin is already solving the ones that do.
9272  Economy / Speculation / Re: FOMO IS REAL on: May 08, 2017, 02:19:12 AM
You guys have no idea of what FOMO  actually looks like in a TA.

Maybe go back to playing wow in moms basement instead of sprouting this nonsense.

FOMO is exactly what XRP and STR look like in the graph. It is very scary to take part in it if you do not have any experience dealing with it. I am very sure many amateur traders are losing money right now who are tricked in buying at the top.

Kwukduck, what do you think of Bitcoin's price right now? Will it still crash below $500?
9273  Economy / Speculation / Re: $2000 anyone? on: May 08, 2017, 02:13:24 AM
I think it will be $2000 in 6 months or less..
Yes, There are many prediction that the bitcoin will reach the 2000$ this year so I think it will be possible because this month have a very large progress regarding to it's price and I think if the bitcoin will reach 2000$ this year that is better and then I will dump my coin because in my prediction after that there will be dumping of the price.

After you dump your Bitcoins at $2000, what will you do with your fiat money? Do you withdraw and keep it or do you buy Bitcoin again when the price is lower?

It would not make sense to withdraw and keep the fiat because that would mean you are now out of the "game".
9274  Economy / Speculation / Re: sub 1000 gone forever on: May 08, 2017, 02:07:35 AM
One thing I am hoping for is it stays like this for 10 more years. Some people here seem to think so judging from their posts.
Bitcoin is still a tiny dot. If you look at how much potential growth it can realize in the coming years, then at some point you'll think back and regret not having bought more at current prices.

Bitcoin will continue to break through each round $K mark. It's impossible for the price to remain at these levels for too long if you take the growing demand into consideration.

That's exactly why I will keep hodling the far majority of my coins for many many more years. It really doesn't make any sense for me to cash out at current prices. It will be extremely dumb to do so.

I am with you in your opinion. But it does not mean that I would buy without any thoughts about good entries. I always buy when the price crashes that is why I always have low bid orders ready at the $1000 - $1200 level. Sometimes my buy orders get filled sometime they miss but they are always there waiting.
9275  Economy / Exchanges / Re: Price spread between Coinbase and Bitfinex is closing (as of this instant) on: May 07, 2017, 01:32:22 AM
https://www.bitfinex.com/posts/202

that might be a factor. and more arbitrage inside Taiwan maybe.

I do not understand what was written in that link. What is it all about, how is it good news and what has it to do with the price of Bitcoin in Bitfinex?

All the link said is the exchange has "engaged" with an auditor.
Quote from: Bitfinex
Bitfinex has engaged Friedman LLP to complete a comprehensive balance sheet audit.
It basically means that they're going to get a third party to independently review the accuracy of their balance sheets.  That would improve confidence in Bitfinex as it would help investors to believe that they're actually solvent since the hack.  With improved confidence, people do arbitrage with the people withdrawing Bitcoin from there to reflect the amount of confidence in the exchange, which can bring the price down to reasonable levels.

Ok bit tht still has not solved the real problem. The Taiwanese banks still has all Bitfinex's funds frozen. What good is a proof of solvency if you cannot touch your funds. If the Taiwanese bank decides to freeze them for an indefinite time because Bitfinex was judged as an illegal money transmitter will they be still solvent?
9276  Economy / Trading Discussion / Re: What is your best strategy to determine if the coin will be profitable? on: May 07, 2017, 01:25:58 AM
buy the dip,and sell the clmix Grin
It works but you may have mistaken either one then that may lead to disaster. Instead of trying to catch the extremes, trading in middle would be the right strategy for survival. I mean to say do not wait for buying at dip and also do not wait for tops to book profits. Choose the coins which will not have chances to be dipped then all other good things will happen over time.

Honestly profitable trading will be possible with any coin hence finding right coin is not that big significant one but when we are buying and when we are selling is really matters and for this we need accurate predictions. When accurate predictions are not possible, choosing coins carefully will work as a best strategy.

Thank you for pointing out the obvious. Your post is very long but it is not very helpful because all you posted gave us nothing but more questions.

How do you choose the right coin? That is the question for you to answer.
9277  Economy / Speculation / Re: Bitcoin surges above $1,500 - CNBC POST on: May 07, 2017, 01:21:31 AM
I agree. The bubble always pops but the times have changed. The question right now is how big will the new bubble be? Ethereum is a good example. Last year when someone says it will reach $100, we all laugh and say it is already a bubble at $20, how can it reach $100? Now ETH is trying to break $100.

The people who missed out on large price moves are the ones who did not adapt.

Not "popping", more likely bouncing back from it's Fibonacci Retracementlevel 50% located at 1257 USD. Timsescale last 42 days, which is ... the universal answer.

That post is funny. You seem so assured that your "analysis" is a sure thing just because you studied some trading books and won a few trades in a bull run. Making money is very easy in trading when everything is goimg up.

Quote
ETH kinda belongs into the Altcoin section. And I changed my mind on it. The technology frontier is over there.

But what is the use of ETH today that matters?
9278  Economy / Speculation / Re: FOMO IS REAL on: May 07, 2017, 01:16:36 AM
I agree FOMO is real.  This is the reason why bitcoin price is quickly rising.  They are afraid to be left behind and miss the profit when bitcoin price reach its peak. 

That is one nice of calling it. But all the same the price will fall not all because of speculative reasons but also because like in any economy, it expands and contracts. There is no escaping it, Bitcoin's price will fall, drop or "correct" itself. Call it whatever makes you feel better.

Definitely when price surge fast, the next thing will be correction or a sudden drop in price since those who bought before the rise will eventually cash-out and the cycle repeats.

If this price increase is caused by FOMO then does it mean there are big money whales out there who are moving the market because they are afraid of missing out? I find that hard to believe. FOMO usually works on altcoins where there are many uninformed and less intelligent "investors". Bitcoin's price movement is caused by something else, maybe.

FOMO works on all investors, sophisticated or "less intelligent". Bitcoin has been referred to as mass hysteria in the past.
Big whales do play a part, but what is happening now is all round buying.

But in Bitcoin I doubt it is only about FOMO. The volumes that the victims of FOMO usually give are small and not enough to bring the Bitcoin market upwards, unless there is a son of a billionaire trying trading for the first time.

The more sophisticated traders and investors are less affected by FOMO because they are already aware of it and they already have enough experience in the market.
FOMO shouldn't just be viewed as desperate and sudden thing.  Some investors (especially in Japan where some are more tech-savvy) are starting to realise that Bitcoin has a big future, as an asset or a currency or for wider applications or really anything else, and they're flowing in knowing that this will be a low price in a few years' time.

Do you know what FOMO stands for? It means the Fear Of Missing Out. How is that not a desperate or an on the whim kind of thing? The reason why the believers of FOMO think it is there is because FOMO exploits the less experienced traders behavior.

Quote
We don't know when we'll next see a bear market, and by the time we do it'll probably happen when the price has reached much, much higher and this current price seems low.

Maybe that would be the case. But it might also happen like MtGox.
9279  Economy / Speculation / Re: $2000 anyone? on: May 07, 2017, 01:12:47 AM
Ok we now know that there is a very good chance for Bitcoin to reach $2000 and maybe beyond. What are you doing right now in terms of investing to increase your Bitcoins? Yes I mean what altcoins are good to hold for 6 to 12 months?
9280  Economy / Speculation / Re: sub 1000 gone forever on: May 07, 2017, 01:06:31 AM
Definitely think it will dip sub 1k again.  We are in a massive bubble.  It might take a while, but I see it going below 1k in the next three years.  Would be nice if it just kept climbing forever, but that isn't realistic, and BTC has had hard crashes in the past.  History loves to repeat itself, but it will hopefully once again bounce back stronger.

I agree with your general statement but I cannot agree with the sub $1000 crash remark because it may or may not happen.

One thing I am hoping for is it stays like this for 10 more years. Some people here seem to think so judging from their posts.
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