Why is a private company commentating and not the UN, I thought they were stated as observers. Its obviously not a point in favour but even with zero evidence its quite obvious elections are false when the numbers give no semblance of opposition existing. Always seems to be the case when democracy fails the fragile over inflated ego of those who take over is quite see through in their suppression of any dissent. Where as any normal free country has people calling the leader an idiot constantly and are usually right :p A successful economy deals with the negatives by open competition. Innovation is rewarded with profit. Crony capitalism destroys itself with inefficiency. No outside enemy is making this true, its observable everywhere in the world. Heres a good talk on the monetary failure of the Roman empire and how it undermined itself with a bias to the powerful over the ordinary citizen. This Petro sure sounds very biased to a one way flow of funds, a bit like capital controls but I might be wrong and I hope its something amazing for Venezuela people 2. Working on Ethereum is slow.
Ethereum executes up to 20 transactions per second (in front of the 3 of Bitcoin or 1,700 of VISA, for example). The
more use of the network and the current consensus algorithms (PoW-based), the more queues will be produced
and no improvement is expected. This produces that a transaction on ETH takes up to several minutes to consolidate,
or some hours.
This does seem very reasonable talk through of why NEM might be superior to ETH as a backbone. If Petro did take off then ETH really doesnt have the spare capacity to take a national currency being used to any wide extent ? |
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Commodities are backed up by, well, commodities, currencies are supported by their governments, but the only support that crypto enjoys is faith in its future growth and expansion.
Governments dont support their currencies very well, most western governments are running a budget deficit and filling the void by printing more money. So they are debasing the countrys exchangeable currency by gifting themselves new money. I dont really call that support, its more like undermining and the value currency has comes from the people who trade, earn, produce and create value in society with the utility they provide via work, etc. Why then cant those people be using crypto currency which is at least a known quantity with a clear equation behind its value. There is no maximum to the amount of paper money produced, ask the people of Venezuela how this ends |
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Break of the uptrend leads to weakness and a fallback to lower Fibonnaci lines perhaps. 8500 I have and 8200 is marked by another trader I saw as support, showing now I think. Target upside would be 9000 which is the trend. The apparent incentive to sell is the google ban on ICO type ventures. However I dont need google, isnt that Ethereum ventures not bitcoin exactly. I dont see advertising as any great drawback when crypto was always about the crowd not the centralised giant companies. If anything I'd be glad to a reversion to that strength.
8555 would mark previous lows, I think that area is roughly the first point to overcome above the current price
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Reminds me of Qaddafi when he first got into power, he setup an alliance with neighbouring countries. Its hard to hold currency over multiple borders, the UK Sterling was originally fixed to EURO like standard called the ERM but it failed because of lack of support between the partners. UK has not been part of the EURO since that time. Speculators including famously George Soros picked it apart on its weaknesses. It's very simple, they all talk about petro, not token or Ico, what I try to say is to get a token out, if Venezuela can already do the cryptocurrency, if you are a developer you know that to go from token to currency is something impossible, there are many good engineers in the country, are you Venezuelan? or of what Nationality? and sorry you learned blockchain, C ++, java, oracle where? There are many things that I say to you with property, that is why it is my alarm, I do not see multifirm algorithms, I do not see burning algorithms, just a simple token ERC20, which is done in 5 minutes, we are talking about the riches of a nation. Now if you understand me?
Yes, but we don't have detailed information at the moment. Anyway, rumours say Petro will be based on NEM. Sit back and relax.  We are all anxious and curious to get more information. Many people are working on it, many and in many different fields (not only development, also law, finance, public finance, banking). It's a large project and a massive challenge, not a startup toy. Updates will be released when things will be ready. I found a list of the most successful ICO ever and on there is a token linked to a commodity, gold. Seems worth mentioning for context to Petro and if it is at all similar in holding some standard https://www.investinblockchain.com/10-most-successful-icos/ |
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Its hard to define a bear market when bitcoin and crypto in general is so volatile already. Normally a 20% drop from peak would qualify that but I dont believe that is the case currently.
The view I received was the drop in price is roughly following a 50 day moving average, this is in decline and represents the overall current trend downwards. However at the same time we have the 200 day average which shows Bitcoin price for the longer term and including alot of 2017 which as we know was very much an increase overall.
The conclusion between these two effects is indecision not bearish so much but a meeting of two waves like you might observe naturally. Neither is certain to beat the other, the stregnth of both trends are in market and meet until the momentum is disappated.
So to be bearish now requires alot of the gains and momentum accumulated in 2017 to be defeated by the power of prices declining in the last 50 days. The 200 day MA is still rising and overall I do not think we turn down until the direction of this becomes flat to negative.
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I would have to disagree that the resistance at 12k is "an impenetrable selling wall". There is a consolidation taking place which has found that resistance at 12k and also support around 8.3k. When that happens many traders will play the range and buy the bottom and sell the top repeatedly until it breaks out. That means if it does try and breakout upwards there will be many shorts trapped that will need to buy to cover, that will be the fuel for the next spurt upwards. Equally the opposite is true if it breaks down. Anyone who thinks they can predict which of those two things will happen is fooling themselves. Trading isn't about predicting which way it will breakout but rather recognising it when it happens and then reacting quickly to that. Well, maybe I should have clarified it a little further in OP. I don't mean that 12k itself is impenetrable. It is what sits above this mark which may be quite hard to pass through. Look, people have been buying all the way down from like 15k. Now many of them will be eager to sell at or slightly above their entry points, that is anywhere in between 12-20k. In other words, it is not like you break out of the resistance at this price level and then there will be no more significant resistance. To the contrary, I'm strongly inclined to think that there will be even more resistance building when (if) we manage to get above that price somehow. No resistance is absolute I agree. It varies on volume of selling also. (also demand subsequently to pass that ceiling later) The chart in full candlestick would be more accurate in its conclusions but its more clear as a plain closing price line I guess. Is it daily prices used ? The double top is not exactly right as the second price is lower, so a declining trend in play there not as much a double top showing resistance to the same price twice. I gave one of your posts merit as requested anyhow Patterns : https://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:double_top_reversalIt should be like a M I think |
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Does this help  https://i.imgur.com/RDgSjHM.pngArticle by Washington Times on Petro: https://www.washingtonpost.com/news/monkey-cage/wp/2018/02/26/bitcoin-move-over-theres-a-new-cryptocurrency-in-town-the-petro/?utm_term=.3f94942ff047Always interesting to hear mainstream discussion of crypto in its own way, we come a long way since early 2013 when it was nothing much to anyone. The United States prohibits Americans from buying and selling petros, arguing that Venezuela is using them to skirt tough sanctions. That’s probably true. Here is what you need to know about this cryptocurrency.
1. Venezuela is sort of rich The website for the cryptocurrency claims that in its first issue, opened for trading on Feb. 20, it made available 100 million tokens, each selling for about $60, a figure that is close to the price of a barrel of oil. Each petro is supposedly backed by a barrel of oil, though analysts are not sure what this means in practice. Maduro values this issuance at $6 billion: $60 for each token for 100 million tokens. Its good to hear Im not the only one confused by how it is linked apart from 'we promise' But to be fair its been said for a long time before this that mixing crypto with commodities of any type is not essentially enforceable and not decentralised quelle surprise https://www.ft.com/content/9c0fcc2c-faa9-11e7-9b32-d7d59aace167 |
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china is one of the powerful country in this world.they are in a high position in economy.and also china is well developed country.but they still don't like bitcoin revolution.what is the main reason for that?
China doesn`t like Bitcoin in particular, not the whole revolution. Chaina alreade uses blockchain technology. But they don`t prefer Bitcoin, because they can`t control it. Bitcoin is untraceble and anonimous. China doesn`t like it. The country is considering creating its own crypto currency, which they will be able to control. Bitcoin is traceable and not completely anonymous but I agree China is opposed to bitcoin because its not under central government control. I did read a theory that BCH is connected to Chinese government but I do not know thats been proven to be true, many miners are based in China though. The big deal with China is they do not allow their people to freely exchange value except via government which involves taxation and possibly forfeiting value if you are not aligned to the politics of that country or region even. Of course its not democracy and not actually capitalist. Capitalism is always capital and means of production with the people, even the West fails in this by centralising banking What you mean is why China forbids bitcoin as a means of payment in the country. Probably the reason why China forbids its citizens to trade in bitcoin is probably the Chinese State Government thinks bitcoin can harm banks, And maybe China wants to make its own Crypto better than Bitcoin, and other reasons may be the Chinese government is afraid that one day bitcoin can beat their own country's currency.
China doesn't have freely operating banks, they are all drones of the government operations. The people are constricted by capital controls. Bitcoin avoids these two things and profits may or may not be taxed, they do not allow free enterprise in this country I think its as simple as that |
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ML This is written in the language of (Philippines) so sorry we cant help with that. Start a thread in that local board would be best cerebro415 spread out the words slightly more, the 2nd post is way better actually. Press return twice to change subject I tend to skim almost everything I read online unless I really loved what you wrote earlier, I skip alot sorry Kate Beckett I agreed with your premise so I gave merit. Do spellcheck and revise mistakes in posts or it looks bad and will be read less often or disregarded. Use google chrome with this forum and it will fast correct spelling. Hello denis-z12, I read your posts and there is nothing wrong with them and I will leave your post here for other users to visit it if they want, but I will not "pin" the links in this thread. I did enjoy the discussion about litepay, and I was trying to find time to dig a little about the project, so I ended up doing so after reading your thread. I will continue to do so, and I will participate in your thread again if I find more information about litepay. It was a good discussion topic for me, so I gave you merit for that one.
Thanks for sharing.
You are welcome! Thank you as well! EDIT: Since you are interested in sports betting have you looked at BlitzPredict ICO? add a source to your posts when solely quoting others if you can even if its not a live URL, ie. without http washingtonpost.com/news/monkey-cage/wp/2018/02/26/bitcoin-move-over-theres-a-new-cryptocurrency-in-town-the-petro/?utm_term=.3f94942ff047 |
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Holy moly thats a really negative view you have there. Bitcoin has been established a fair while now and its done its job every day of operation. Where exactly do you see the problem with its operation that it deserves such a poor view. The failure that occurs in price is not part of the protocol itself, this is part of exchange transactions and its mostly down to the people themselves how fast price rises or falls.
The biggest negative for Bitcoin is the transaction fees and speed/ease of use perhaps. That is being addressed, there was no real deception here. There have been scam coins at various times so its not impossible but all the faults you list come with people buying and selling anything. This is not a socialist enterprise thats for sure
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Bitguild reminds me of my old Bitcoin mining pool, BTCguild. The guy who ran that was a really solid guy so I hope you do as well similarly Virtually everything that you offer is on Steam, and even your game can be sold through their platform. Do you think you can compete or attract people?
Not everything is free to exchange on steam. Doesnt their EULA prevent quite alot of things. Im very involved in this kind of market economy and Im interested in various solutions. There is definitely competition out there especially ideas for betting Ive seen lots. Yes, the idea is not unique, but it's not the most important thing in the project. It can be qualitatively different. and this strategy will bring success to the enterprise
I think the idea is quite unique. How many game platforms do you know actually who also displays in your digital wallet the gaming equipments and turns the gaming platform into a interactive trading platform? It could be unique, we dont know yet but I tend to agree theres been alot of attempts to achieve something. There is a natural crossover between computer gamers and a kind of more precise crypto economy. Interested to hear more anyway |
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Its not lower risk, I think BCH is like what Bitcoin was a couple years ago. Ultimately they hit the same problem of a block size that needs to expand to fill the demand for transactions. Its not that the problem was avoided forever but its at a different point on the timeline to facing any difficulties. Have the attitude to avoid high fees is admirable also and perhaps that is what has garnered support. It comes down to efficiency ultimately but still its impressive how many connections have been managed to ensure the blockchain is being used and price support is likely from that usage
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Crash and panic is not something you want in a normal market. Think of a market as a crowd of people talking and perhaps exchanging ideas and prices obviously. These two elements of extreme price movement and emotion over reason mean these ideas are ignored and little discussion and price discovery takes place.
If nothing else a price that moves too rapidly will not be open fully to the range of buyers and sellers around the globe and as Bitcoin is part of a large market that is always partly sleeping we do need some development time for free exchange and benefit to occur for all.
Orderly market is something you will find the Federal reserve always refers, they dont essentially care about the dollar worth but to lose a market completely even for a day or so is not profitable long term as it disturbs holders and investors who are not trading constantly
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What if every person loaned money from a bank or maxed out their credit cards to buy Bitcoin and deliberately not pay out those debts. Would that start "killing" the banks or, at all events, dent their dominance?
The banks would ensure that bitcoin is shut down as a destructive enterprise I think is more likely. Even now I would advise you not to take leverage when entering bitcoin because the volatility is already very extreme and it would increase the chances that you will sell before is best. I just say that in reference to the drop out of 2014, 15 going forward. That was the time to buy but plenty of people sold and never came back which we see was a mistake. Play for the long term and bankruptcy will take your BTC also btw |
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Simply because the WHALES take the profits whenever there's a 5 to 10 percent growth. The bottom line is Swing trading and Day trading is real and the HODL method is just what it is...
Nope the title is untrue almost certainly. I will bet a bag of beans Bitcoin will reach $20,000 again simply because the US dollar has far greater troubles then bitcoin overall. I would just compare it to the old Russian Rouble which has an exchange rate of 10,000 to 1 for the new Russian Rouble. Esentially that country had to default on its obligations as a government because it could no longer service them reasonably or pay the interest and levying enough tax to pay the debt was not feasible either. This is the situation facing USA and I presume why dollar devalues greatly as every Treasury bond pays out in US dollars. So they will soft default and repay in dollars of much lower value. Back to the OP and thread title, this greatly helps the exchange rate to bitcoin. I'm not saying 20,000 bitcoin will be as great an accomplishment but its quite certain it will occur one day. The only 1% doubt I have is that the protocol is not continued for long enough parallel to dollars, but I think it will. [I guess it could be banned by law] |
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If buyers can form a local low here above the 2/25 bottom, then it's still possible we are in a bullish consolidation. There is a mode (per Tim West's TAM method) ~ $10,400. Bulls need to regain that level and defend a higher low on pullback before we can trigger a long signal. Here's a squiggle of what I mean:  Nice, bulls succeeded in forming a local bottom. So this pattern is still in play. A strong close of today's daily candle in the $10,000s will yield a bullish hammer or dragonfly. Fingers crossed for that, the close is 16 hours away. That'll be a strong sign of a bottom, supporting the idea of bullish consolidation here in the $9,000-$12,000 range. My basic take has us bouncing along a positive trendline. Above there is a parallel upper band that is not absolute but generally Bitcoin has held this for almost a year now. Its a fairly decent trend however shorter term the price is still finding a more stable point and is not yet bullish  https://i.imgur.com/RDUo7te.png |
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its might crash to 4000 $ or even to 0 $ i dont like how we are in a game that is under controll by unkonws if the price goes back to 20k a lot of investor will be out
Even the most bearish of Anti Bitcoin commentators dont believe the market price will fall to zero. The reason being this blockchain does have a utility. Presumably it could reset difficulty well enough to find a balance and still operate sucessfully at a lower price point. If that balance is not possible in a price reversal then sure I will agree $0 is possible but normally there will always be a market to exchange value and the point of BTC now is that its well known to a billion or so people. That kind of brand recognition for any product at all has a worth. Sometimes a company will fail but the name is so well known, they get bought up just for the brand alone. Bitcoin will always have quite a strong worth behind it for this and other reasons. Almost every business commentator will acknowledge this afaik |
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much attention to marketing, less to working product or realistic time lines
immediately available on EtherDelta and IDEX, sure sign of little interest in token economics/future
no lock on pre-sale tokens, whales take their x2, x3 or x-whatever as soon as possible (I would probably have done the same). Prices drop to below ICO price.
too many ICO's without distinctive differences.
too many ICO's in general
too much tokens reserved for team/marketing
many ICO's don't even have a crowdsale anymore (which perhaps is a good thing as the little investors are protected this way)
ICO prizes are quite high. 1eth = 1000/4000 tokens is pretty common, but with a hc of 40 million, this will not easily go x10 or more.
Its good to have community feedback and part of price discovery is this kind of criticism. Prices can be set during an ICO but it doesnt mean anything till the market confirms it in active trading. IT might make alot more sense to wait until its on etherdelta and there is a live price. Development of the product often follows the ICO funding, its a seedling rather then a fully grown project. Thats very common, where as a stock IPO would be a fully formed company most often though it can also be a kind of investment fund too. I think its best to take a step back and see progress vs price after the ICO. Price doesnt always go up, theres opportunities afterwards and I think also less risk doing so |
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who is that noob who created iota wallet ? no way to change installation path, no x86 support...
Userability counts considerably I agree for every cryptocoin because if its ever really going to take off, it has to be wide open to the mainstream who barely have a clue how to operate windows most of the time. I spoken to many highly qualified professions while working support at various times and its pretty much universal that people require a product to be straightforward in order to really embrace it and use it daily. This explains quite large part of on exchange usage where you have people who 'own' coins but never really possess them because they are mobile individuals and/or just dont want the hassle of handling a wallet sync and all the install worries that might go with it. So you have a half in half out population who arent fully comfortable or commited to staying with that protocol. It'll never really take off imo without paint by numbers :p |
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Charts are great for looking in to the past, not so great for Looking in to the future.
A chart is for identifying a trend and extrapolating a higher probability path, bullish or bearish even is a profitable to know doesnt have to be exact. Heres a chart from a long term trader who comments on the momentum and likely strength in BTC price  https://www.youtube.com/watch?v=6L5G97rHnvoIts worth watching the vid for technique |
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