Is crypto done?   |
|
|
|
hey folks,
in the last days i had the feeling that we already passed the tipping point of bitcoin. maybe 2014 is THE breaketrough year for bitcoin in the history books. why? because a lot of things come together in my view that we would never think of in early 2013 (thats just 1,5 years ago!) :
- hunderts of millions of VC Money
- Regulation (most more pro than contra)
- Upcoming ETFs
- Adoption from merchants and consumers (DELL, Wikipedia, Expedia etc)
- first BTC stock is launching maybe in 2014 (mining)
- conferences all over the globe
- mainstream coverage (and alot more pro than in 2013)
when i started with bitcoin in Feb. 2013 none of these things existed.
Not even close to the tipping point. All of your points can be said for 1994 before the Internet hit mainstream. |
|
|
|
Looking to buy large quantities of DRK privately (>1k DRK, up to 10k DRK). PM me for offers.
Sorry, lame question here: Can anyone tell me what is the purpose of trading outside exchanges? Is it buying for cheaper than market price? If so, why would anyone sell below the market price? To avoid dropping value of the coin? It's better to buy bulk in the OTC markets, otherwise, there is risk of sparking a rally and buying higher than you originally intended. Side note: Hope RC4 goes well.  |
|
|
|
interesting post, i'm hoping we test 540 to see if these figures are accurate.  Can someone explain this sentence to the non-finance literate? "Conclusion if we break below $550 I expect the market to get VERY fast with cascading margin calls on bfx. Admittedly we might need some FUD to get there but those price levels are at least in sight " If the price falls below $540, those that borrowed at $650 do not have enough collateral to sustain their positions. Bitfinex will force them to sell. As for $550 that's a technical point in the charts that we've bounced off a few times. To break that support means longs are throwing in the towel. |
|
|
|
interesting post, i'm hoping we test 540 to see if these figures are accurate. |
|
|
|
|
yingfeng, even though English isn't your first language it was a good read.
The United States cannot ban Bitcoin, however, they can regulate it like NYC's proposed bitlicense which will hurt that city's ability to innovate in cryptocurrency.
|
|
|
|
|
We may test the 555 again for a quadruple bottom, but there doesn't seem to be reinforcement readily lining up this time to buy.
|
|
|
|
Link to CNBC... "CFPB creates complaint center for bitcoin 'Wild West'" www.cnbc.com/id/101910989Looks like it is affecting the price. Good buying opportunity. |
|
|
|
is crypto done? |
|
|
|
The premium that is paid is the market rate. You are essentially paying for the ability to buy bitcoin right away without having to wait for the exchange. It should be clear to you how much of a markup you are paying prior to buying. If you think the premium is too high then you should should not buy bitcoin on LBC
The premium reflects to a large degree your own need for privacy
The mark-up you appear to have paid seems very high
In my experience, 3-5% over all-in is more typical
Agreed, the premium you pay is for privacy & instant coins. Exchanges like Bitstamp (Slovania) or BTC-e (Bulgaria) require invasive identification requirements to validate bank transfers. Most non-Bitcoin folk would think you're out of your mind for sending wires to these countries. Coinbase can be invasive & you will wait 4 days processing for the coins. |
|
|
|
Thanks for the post, I had something very similar happen. He had addresses on a piece of paper, not even QR codes and admitted they were not his. I felt uncomfortable about the whole thing and declined to sell the coins.
Once he admits it's not for him and on behalf of a 3rd party, you would be operating as a money transmitter without a license. They charged Charlie Shrem of Bitinstant for that crime. |
|
|
|
The bitcoin price is defined by exchanges. Even if they buy outside exchanges, they will need to go for them to sell and do the manipulation stuff.
How will they sell bitcoins off exchange?
I agree with the Op, the hedge funds or Wallstreet can't buy big on the open exchanges without dramatically increasing the price. They would buy OTC (Over the Counter). Estimates for the FBI purchase was at least $666 considering Second Market's $20 million bid didn't win a single block of BTC. Long term, this will be a bargain, IMHO. |
|
|
|
Nice little rally, not time yet to pull out the GIF images. |
|
|
|
37Coins is doing the Bitcoins via SMS. Could be used for Western nations, I suppose, but intended for populations not accustomed to smartphones & Internet connectivity.
|
|
|
|
I trade on LBC and can confirm similar suspicions. Couple weeks ago I initiated a purchase with a local seller. Typically Bitcoin people I've met are open and excited about the currency but this seller didn't seem particularly friendly and politely just answered yes or no. What struck me as odd was as I was leaving, I caught the glance of another man seated at another table and his eyes widened as if he saw Lenin's ghost then quickly averted eye contact. I've seen that look before when I've been followed by poorly trained undercover security at department stores. This week, I received a package of clothing that I was expecting. It had a clean 2 inch slit as if my mail were being inspected. That's all to report for now, but I'm going to send some test mail to myself. Maybe send some flour or something...  |
|
|
|
Personally, I wouldn't trust no-name brand electronics. I have this Hisense tablet, it can be used as your "cold wallet" and it also works as an offline Google 2FA device. Walmart used to sell this tablet and Hisense is a big brand in China. |
|
|
|
I typically add "Watch" addresses via the web interface and move them to "Archive" so they won't show in my total balance. These are my paper wallets. So I installed the iOS app and saw the archived address balance for my paper wallets as 0. I was wondering how ever could someone hack a paper wallet that never touched the Internet! So, I log in via the web browser and did verify the balance. Whew! |
|
|
|
|
I'd say I have just about all of my liquid assets in Bitcoin. You might say, I'm "all in."
Non-liquid assets I can't touch at the moment are tied up in real estate and a trust. Maybe for the better because I would liquidate those too if I could and put it into Bitcoin.
|
|
|
|
|
Show Posts
