Can you tell us how fruitful trading cryptocurrencies is for you? I know you can easily say yes in the forum because that is what most people will say. The problem is to how to prove that you are a winning trader, making trading worth it for you.

I know stastically that there is a 90% chance that you are a losing trader. So how can you really say that trading is worth it if you are really a losing trader?

Correct. As long as you can make profit. This is the first honest answer I have read in this thread. The problem with trading is in order to have a winner there always has to be a loser. We the amateurs have always done the losing. What we should be doing is to be honest with ourselves and the community. No more lies.

Did not do the survey. I do not see how a Chinese exchange is still relevant for traders located outside of China especially after the intervention of the People's Bank of China. Avoid the Chinese exchanges at all costs. They change the rules of the game without fair warning and got Bitcoins trapped with no way of withdrawing them.

This is the argument they made during 2011. The early adopters thought that Bitcoin will disrupt everything and bring down the banks. The early adopters were very wrong. They failed to see that the limitations in scaling Bitcoin will be its biggest hurdle to make it a cheap efficient payment system.

What are you trying to tell everyone? That cryptocurrency trading is not gambling? It is too. No one has an idea who really are behind most these different altcoins. Some developers are anonymous and will never reveal their identity. Here is the most risky part, it is trading in exchnages that are not regulated by the government.

I believe you do not have extensive experience.

Here we go again. More talk and posts without thinking thoroughly about them. How can you say that cryptocurrency margin trading is more liquid than penny stock margin trading? The Nasdaq, where penny stocks are traded in America is one of the most liquid markets in the world. The brokers who participate in those markets, some are very cash rich, and the bigger brokers can give more volume in margin than the top cryptocurrency exchanges can give combined.


Are you a substantially experienced trader or do you have a background in finance? Please tell us why we should believe you.

That is what I think too. The People's Bank of China will not stop until they satisfactorily get the Chinese Bitcoin exchanges under their will. They might be viewing Bitcoin as a slap in the face because by design it can circumvent laws and can squeeze its way in and disrupt the financial system if the PBOC is not careful. We have already seen the initial reaction of Chinese traders resort to Localbitcoins. I believe they will block it next and try to criminalize anyone who uses it. Next phase will be decentralized exchanges which will give the PBOC another big problem.

Boring? Bitcoin will never be boring at whatever price it goes. If it goes down to $100, there is FUD and drama. If it goes up to $10,000, there will be "moon memes" and more drama. There is also always something going on. The search for Satoshi that gave us the Dorian Nakamoto and his free lunch humor. The scaling debate, more drama there. There is also Craig Wright! The list goes on and on.

Actually it is something like that. What then is stopping a Chinese exchange from bloating their reserves of Bitcoins in their ledgers? What is also the use of trading with them if I cannot withdraw and use Bitcoin if I want to? They have now become a platform to speculate on the price and not as an exchange that facilitates real trade.

Your post shows the lack awareness you have on what is going on with Bitcoin. Most of you here keep saying "Yes yes yes" like it was really easy. How can you say that Bitcoin use will increase in the future? The blocks are full, the network cannot scale and politics and greed are delaying the needed upgrades to house more transactions per block.

How much Bitcoins did the Chronobank project get? The last time I looked around the forum it was I think $4m. That is really good considering the developers are unknown and the backers are also unknown. Think about an ICO that is backed by known people and a good team behind it. It can get more. Possibly 3 times of what Chrono is getting. Bitsane should get in there and contact developers for possible ICO deals.

I do not quite understand what you are saying. The last sentence tells me that you think Bitcoin might still be around in 20 years? If by then it still lives then the price should be very high. To what benefit would it be to mine something worthless if Bitcoin still stays at these prices. The cost of mining will be too high if you consider the halvings we will go thru and the difficulty rise in a 20 year period.

Good. I am glad we are on the same page. Smaller blocks and network layers on top might also be the solution for the developers and Bitcoin thinkers who want to utilize sidechains. Whatever politically motivated criticisms they throw at Core, I still believe in the direction where they want Bitcoin to go. It opens up a lot more possibilities for the network.

Sorry for saying the negative comment. I meant no offense. It was only surprising for me that a Legendary member will think that way.

On the topic of Chinese exchanges and the lack of authenticity, what is new about it? We all already know the volume was fake, we also know that China is the source of most of the pumps and manipulation in Bitcoin. Nothing was truly authentic with the price of Bitcoin in China. I ask you, as a Legendary member, do you follow the prices of the Chinese exchanges or older, more authentic exchanges like Bitstamp or BTCe?

The fact that they are writing all about it just now is also laughable. We all know that is already the case.

Try to widen your thinking. You are not dealing with stocks anymore this something new and something very revolutionary. The technology behind Bitcoin like consensus thru proof of work and a peer to peer value transfer protocol has opened up new possibilities for society. It was also created by an anonymous person and the code is open source so it means anyone can now create their own payment network that is open, free and most importantly peer to peer.

So now take speculation and profit to the back seat and focus on the technology and what it brings to the plate.

I assume $MNKD is a ticker for a penny stock?

Ok think of it this way. There is no comparison between a penny stock and the all mighty Bitcoin. Is your favorite penny stock as cool as Bitcoin? Is your penny stock a peer to peer, censorship resistant, and capable of value transfer on the internet? Can you buy cocaine with your penny stock?

That is how cool Bitcoin is.

I do not know what OP is talking about when he said that the "price has lost its value". For a Legendary member he is not too smart. Maybe he is trying to make us sell our Bitcoins because he thinks he can crash the market with one thread? Laughable.

One of the most amazing traits of Bitcoin is it always weasels its way to find efficiency. If it cannot be traded in the exchanges then there is Localbitcoins. If the Chinese government blocks Localbitcoins I believe there will be other ingenious ways developers can create to enable trading. Bitcoin's peer to peer nature is causing headaches and will cause more.

Politics aside, what is wrong with a payment layer built on top of the Bitcoin network? The possibilities for Bitcoin has become wider if there was a LN type network layer that could handle unlimited transactions and say could also become a bridge between blockchains. Real anonymous transactions could also be implemented. Why stop it just because "it does not retain its unique properties"? It is still there, you can still do transactions onchain.  

When we think and talk about where Bitcoin will be in the next 2 or 3 years I would think that it will be big and the price will explode. In short, all positive thoughts. But when asked where it will be in 20 years my thoughts are negative mostly. My first concern is the mining. Would it be possible for the miners to keep increasing the wasting of energy for as long as 20 years?

If you are a greedy bastard who does not care as long as the price of Bitcoin is going up then yes. Who cares what they write about Bitcoin.

When I first discovered Bitcoin I used to think that it was a very good investment and I recommend people around me to also invest because it will change the world of finance forever. Now that I am learning more and more each day, if someone asks me if they should invest in Bitcoin, I always say be careful because they are putting their money in the hands of the miners, the developers and people who want to fork it away like the big blockers.