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1  Economy / Trading Discussion / Why Bitcoin price is so volatile? What are the major factors that drive it? on: February 25, 2021, 09:20:54 PM
I am wondering why Bitcoin price is much more volatile than the stock market?

Let's just stick with Bitcoin only.  Bitcoin have a market cap close to $1T as we speak and, yet, its price is still so volatile.  Is it because the availability of bitcoins in the market is low as most people (especially the new institutional investors) are hodling? 

Is it fair to compare Bitcoin (or crypto market as a whole) to a stock market like SP 500 (which currently has $31.61 trillion market cap)?  If so, Bitcoin cap is only 3% of the SP500.  Is it because of its relatively lower market cap which make it easier for its price to be manipulated (i.e., by a pump-and-dump)?

What do you think?

2  Alternate cryptocurrencies / Speculation (Altcoins) / A Sudden Loss of Faith in Tether Would Pose Risk to Bitcoin, JPMorgan Says on: February 19, 2021, 05:08:08 PM
Just saw this article "A Sudden Loss of Faith in Tether Would Pose Risk to Bitcoin, JPMorgan Says."

https://www.coindesk.com/a-sudden-loss-of-faith-in-tether-would-pose-risk-to-bitcoin-jpmorgan-says

I don't think so, but what do you think?

(Maybe I am naive, but is there any direct connections between Tether and Bitcoin?)


3  Economy / Exchanges / Almost lost all of my coins in an exchange last week on: January 30, 2021, 12:28:14 AM
(I hesitated to mention the name of the exchange in order to protect my existing account still in there.)

I started to use this exchange almost 4 years ago.  There were no any issues till recently.  Last Dec I logged into my account (which I haven't done it for a while) and the first page showed up saying that they will discontinue my services in 14 days and asked me to move my coins out to their US counterpart because I am a US customer.  I was thinking to myself, it I had not logged in, I would never know about this because they did not contact me at all on this matter. So I contacted the US exchange and found that they do not serve customers in my state.  So during all these times, I was researching for way(s) to relocate my coins.  I contacted the foreign  exchange and told them the challenges that I am facing in finding a place to put them.  They just told me to move the coins out before I lose them and then no reply to my follow up email since.  

Last week, I got three automated emails from them at the same time.  
First email: request to reset password from [IP which is not mine] (and a 6-digit code was included for verification).
Second email: Successful password reset from that same IP.
Third email: Successful login from new IP..... to protect your account withdraw is disabled for the next 24 hours.
                   (Thanks God for this function with the 24-hour disable withdraw.)

This happening really got my attention.  I immediately tried to log into my account.  I entered my password 4 times (one time away from my account being locked) without successful as it had been changed.  Thankfully, I did not try the 5th time knowing that my account would be locked and I would not be able to get any help from the exchange.  I sent an email using an old email thread to them reporting the situation, but got a reply saying that my IP is from an unsupported country which they cannot service.

However, thankfully, I was able to go through the process by clicking on the Forgot Password link and reset my password.  During that process, they sent me an email similar to the first email received before with the verification code.  And by using the code along with my Google Authentication code, I reset my password.  During the next several days, I did my best to get as much information as possible on how and where to move my coins to.  By using a VPN tool (first time), a desktop wallet, a hard wallet, and a  coin wallet that works with the hard wallet I was able to withdraw most of my coins out.  Before I moved my coins out, my heart was so heavy and troublesome because I did not know when the hacker would attack again.  

Now that I got most of the assets out from there I am more comfortable to talk about it and to share my story.  Would this be an inside job given that they knew the US customers are vulnerable and helpless (since they cannot use their customer services anymore)?  Else, how can the hacker by passing the email code verification and the Google Authentication process?  This is still very unsettling to me.  


Added on Feb 4, 2021
Thank you for your feedback and suggestions.  I added the following information as many people had asked related questions on them.
-   The exchange name has been mentioned by others in this thread.  Please spent sometimes to look for it.  
-   After I pulled my last coins out from the exchange, I will try to contact them and present the incident to them so that they can investigate and, hopefully as a result, to improve their services.
-   In order to reset my password, I need to enter the passcode which was sent to my email + the Google Authentication code.
-   The old iPhone which has the Google Authenticator installed was not turned on at the time when the hack occurred (and it is not usually turned on in order to extend its usage life as the battery is no good).  And I had not kept the recovery key for the authenticator anywhere – I did not save it.  So there is no one, including me can recovery it.  I got the authenticator for years.
-   This is a question for myself (just thought of it last night) – why did the hacker change the password (which triggered the no-withdrawal-in-24-hour rule) instead of withdrawing the coins out right away?  To withdrawal any coins, both the passcode sent to my email and the Google Authenticator code are needed (same as the reset password requirement).
-   I really don’t believe that my email address was compromised.  It that were true, the hacker could redirect the 3 emails that were sent to me to junk folder when the password got changed and account was accessed from a new IP address.  Without receiving these emails, my coins would be done for.
-   By the way, I have no ill attitude toward the exchange.  I really like the exchange as it supports many altcoins that are not supported in many other exchanges.  The way they required both the security code from email and Google Authenticator to withdrawal added a strong security layer to the accounts (in addition to login with username and password).  Also, the no-withdrawal-in-24-hour rule after password changed was a saver.  
-   They provided good customer support services before they shut me down by sending an automated email saying that my IP was identified as from a country that they don’t support when I tried to reach out to them again.  So if you are an US customer and your account got hacked, there is no way for you to seek any help from them – at least within a short amount of time (24 hours?) – before your assets got moved out.



4  Bitcoin / Hardware wallets / Is Nano Ledger S still safe after the data breach? on: January 23, 2021, 06:08:49 PM
Hi Crypto Enthusiasts,

Is Nano Ledger S still safe after the data breach?  My concern is that would the hacker be able to use the customers’ profile/email/phone number to impersonate them and somehow get access to the stored coins.

If you do use a Nano Ledger, please share your experience in using it. 
And are there any good sources of tutorials on how to set it up, use it, and maintain it?

Thank you in advance!  Smiley



5  Economy / Service Discussion / My Bitcoin Got Hacked From My Wallet on: January 17, 2021, 04:22:17 AM
My Bitcoin got hacked from my blockchain.com wallet three years ago.  I cannot seem to be able to contact Blockchain.com.  I failed trying to contact them three years ago, but I tried it again today, and this time - still failed.

I’m still able to access the wallet and see that my email address and the phone number for the SMS 2-Step verification are still there.  I was also able to change the password. 

I went to their support.blockchain.com page and tried to post my question, but after I entered the email address and the password for the account, I got an “invalid authenticity token” message and was unable to proceed further.  Does anyone know how to get through them?  I need to get more information on how my bitcoin got hacked.  It was such a mystery on how my account got hacked.  Did the hacker got a hold of my 12-word phrase key and replicated on another device before the coins were sent out?  If so, how did they bypass the SMS verification?  Or did they simply hack into the wallet directly? 

Ever since that incident, I lost confidence in using their wallet.  And as of today, I still cannot get in touch with their support team. 

Could someone help?  Please also share your story if something similar happened to you if you like to share. 

As it happened three years ago, I am over it now, but I still like to know what had happened and how did they hack it.

 Cry Cry Cry Cry Cry
6  Bitcoin / Bitcoin Discussion / Reason(s) why Bitcoin price dropped on: January 11, 2021, 03:06:11 PM
Are there any news that triggered the Bitcoin price to drop from $41K to $33K as of now (10am EST 1/11/2021)?

Would a 100 BTC sell transaction causes a 1 to 3% drop in BTC price?  What is the price elasticity for BTC?


7  Bitcoin / Bitcoin Discussion / Lightning Network Development in Bitcoin on: January 10, 2021, 03:40:11 AM
Could someone tell me if the LN is implemented in Bitcoin?  If not, what are the challenges and concerns in implementing it?  Thank you in advance.

8  Alternate cryptocurrencies / Altcoin Discussion / BCH is in Coinbase Wallet now! on: December 20, 2017, 12:18:00 AM
I’m not fond of the BCH in the beginning, but after it turned out OK, I’m also ok with it now.  Grin
9  Bitcoin / Development & Technical Discussion / Bitcoin Lightening Network Implementation on: December 18, 2017, 07:10:36 PM
Does anyone have any roadmap on the LN implementation on Bitcoin? 

I really hate to see Bitcoin continuously being attacked by some ignorant people that Bitcoin cannot be used as a currency because of the current slow processing speed and high transaction fee. 

10  Economy / Speculation / Effects from the Bitcoin Futures? on: December 12, 2017, 02:22:06 PM
Two things that I have observed so far are that the price variation between different exchanges has dropped and the prices of altcoins have increased along with bitcoin's price.  

It seems that Bitcoin Futures reinforces the legitimacy of Cryptocurrencies and motivates more people to get into the cryptos space.

Also, it seems that Bitcoin Futures manages people's expectation on the price and reduce the volatility.

What do you think?
11  Economy / Speculation / Would Bitcoin price reach $10K by the end of 2017? on: November 20, 2017, 04:11:56 PM
Six months ago I did not expect this to happen, but now I think it is possible.

Many encouraging news lately.  Here is one of them:

https://qz.com/1133670/bitcoin-price-at-8000-institutional-money-poised-to-enter-the-market/

Bitcoins futures implementation and the participation from institutional investors.

What do you think?
12  Bitcoin / Bitcoin Discussion / Bitcoin Gold Fork just costs Bitcoin $5B! on: October 24, 2017, 07:47:31 PM
Bitcoin Gold forked Bitcoin today.  The current price of Bitcoin is $5700.  Dropped from $6200 couple days ago.

Bitcoin Gold is endangering Bitcoin in at least 2 ways - 1. It does not have a replay protection and 2. It causes confusion to new potential Bitcoin investors.

It costs the whole Bitcoin community $5B.  Angry

https://www.bloomberg.com/news/articles/2017-10-24/bitcoin-retreats-as-another-offshoot-of-cryptocurrency-appears
 - Bitcoin Gold’s arrival pushes spot price down as much as 5.9%
13  Bitcoin / Bitcoin Discussion / China Will Likely Resume Cryptocurrency Trading by Licensing Bitcoin Exchanges on: October 06, 2017, 09:42:26 PM
Be ready for this reversal.  It may happen sooner than you expected.

https://www.cryptocoinsnews.com/china-will-likely-resume-cryptocurrency-trading-by-licensing-bitcoin-exchanges/

As I have mentioned in other posts before, the ban from China should be only temporary.  Once they figure out how to regular the crypto market, they will disban the exchanges (provided that the exchanges get proper license).

China is not stupid enough to exclude itself from the crypto ride.  Also, a long term ban will damage its status and reputation in the financial market.

14  Bitcoin / Bitcoin Discussion / Where can the money go after China banbed its Bitcoin exchanges? on: September 15, 2017, 02:24:10 PM
I am wondering what type of options do the Chinese bitcoins holders have from the ban?

Most people would just sell their bitcoins before the exchanges closed and cause the price to drop, however, if they can move their coins to a wallet, then it would be a different story.

I know people can move their coins to their own wallets, but that is if the exchanges can provide them with the private keys and if they are proficient enough to manage their own wallets.

Another option which I can think of is to move their coins to an online wallet service such as Exodus or Xapo.  This is probably the easiest option.  Does anyone know if these wallets are restricted by countries?  Would Chinese bitcoins holders be able to move their coins to these wallets? 

15  Bitcoin / Bitcoin Discussion / BTC and BCH Difficulty Adjustment, Total Supply, and Price on: August 21, 2017, 01:37:45 PM
BTC's difficulty is adjusted every two weeks so that a block can be solved in 10 minutes.  Approximately, the Bitcoin reward is cut in half every 4 years.  Consequently, the supply of 21M will be maxed and fixed in Year 2140.

Does BCH follow the same rules?  I read that "Blocks are being processed rapidly now on the BCH chain as each block is being found every 3-7 minutes. " from https://news.bitcoin.com/bitcoin-cash-mining-difficulty-drops-significantly-speeding-up-the-chain.  If that is the case and the 3-7 minutes block mining time sticked, won't the BCH supply increase faster than BTC's and reaches the maximum supply sooner?

A reduction in the mining difficulty also means that the transactions in the block can be processed quicker and the transaction fee be lower.  How would that affect the price?
16  Bitcoin / Bitcoin Discussion / Let's make ‘Buy Bitcoin’ Sign Appears Everywhere! on: August 13, 2017, 12:42:04 AM
"Buy Bitcoin" sign appearred again today.

Buy Bitcoin’ Sign Appears During DOTA International Tournament
https://cointelegraph.com/news/buy-bitcoin-sign-appears-during-dota-international-tournament

"Bitcoin made an unplanned appearance at the most recent DOTA (Defense of the Ancients) International Tournament, as an audience member held up a ‘Buy Bitcoin’ sign during announcements of the televised event.

Bitcoin has been frequently popping up in unlikely locations.  The current stunt, intended to increase awareness of Bitcoin, is not the first of its kind, after an audience member at Janet Yellen’s congressional briefing did the same.

Both events indicate a growing awareness of Bitcoin and cryptocurrencies generally. The awareness may be part of the reason for the substantial price increases over recent months, with Bitcoin cresting $3700 today.

"

I expect more signs will pop up in sport events and many other places.  It is a way to promote Bitcoin as well as other cryptocurrencies.


17  Bitcoin / Bitcoin Discussion / Howard Marks says 'I don't understand what's behind bitcoin' on: August 11, 2017, 03:46:59 PM
Howard Marks, who has called past market bubbles, says 'I don't understand what's behind bitcoin'arks, who has called past market bubbles, says 'I don't understand what's behind bitcoin'

The co-chairman of Oaktree Capital is widely known for his investment memos, which predicted the financial crisis and the dot-com bubble implosion.

https://www.cnbc.com/2017/08/10/howard-marks-i-dont-understand-whats-behind-bitcoin.html

"Maybe I'm just too old and too much of a dinosaur to understand bitcoin," Marks said jokingly.

I think may be he should just shut up or not talking down about Bitcoin anymore.



18  Alternate cryptocurrencies / Marketplace (Altcoins) / Augur, Golem, and Gnosis - which one to invest? Do they have any potential? on: August 10, 2017, 02:01:59 AM
I just got an Exodus wallet and have $500 of ethers in it.  I want to exchange the ethers with Augur, Golem, and/or Gnosis, what coin allocation I should do?  Do they have any potential?



19  Alternate cryptocurrencies / Service Discussion (Altcoins) / BTC, BCH, and Coinbase Transactions on: August 08, 2017, 08:15:02 PM
If I have 1 BTC before Aug 1st in Coinbase, I now have 1 BTC and 1 BCH.

If I bought the second BTC today at Coinbase, I will only have 1 BTC.

Both BTCs are stored in "BTC Wallet".

Now, if I transfer 1 BTC from the "BTC Wallet" in Coinbase to a different Wallet, say an Exodus wallet, which of the BTC (1st or 2nd) am I transferring?  Notice that the 1st BTC has BCH attached to it.

Also, does transfer considered as a transaction?  Does miner need to process it or it is just like moving the private key from one place to another?

I should have asked Coinbase support on this question, but their customer services is the worst I have ever encountered and I know they are not going to answer my questons.


Thank you in advance for anyone tries to help.
20  Alternate cryptocurrencies / Speculation (Altcoins) / Should I invest in Steem? on: August 06, 2017, 05:54:58 PM
Should I do it?  What are the pros and cons?

Any feedbacks are welcome.
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