Bitcoin might fail, but cryptocurrency in general won't. Adotion is accelerating for coins like Ethereum, Litecoin and others. The concept is here to stay, the question is just which coin will make it to mass adoption. We need to understand that it might be more than one coin each with different attributes and niches.
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Hopefully other chip makers will get in on the act. Would love to see what Intel and other can come up with. I find it hard to believe that they arn't thinking about it already - where there is potential profit, there are firms desperate to be part of the gold rush.
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Because most of the companies in the crypto space are private (in other words they arn't listed on any stock exchange), they keep this sort of information secret.
We know that in December that Coinbase was getting about 1 million new sign ups a week, but when then press started quoting them, they removed the stats from their website.
I guess you could do some digging into companies like Overstock which have enabled payment by cryptocurrency. They are publicly listed, so somewhere in their accounts will be a statement about sales through bitcoin.
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lol the hacker sent 30k ethereum back thats proof enough you guys will get scammed in the next years. do you have any proof that it was a real hack? no? why? because coindash can only answer the questions with proofs. why they dont proof it? I'm wondering the same. Especially as this is the SECOND time money was returned: https://cryptonews.com/news/eth-20-000-returned-to-coindash-by-the-same-address-that-sto-1279.htmThe transaction constitutes the second instance in which the hacker has returned funds to Coindash. Out of the ETH 37,000 that had been stolen during the company’s ICO (initial coin offering) last year, 10,000 have already been returned on September 12, 2017, then equating to approximately USD 3 million. This is plain weird. Why would you hack them, and then return teh coins in two separate tranches? What would the motive be? Why hack in the first place if you are going to return them? An alternative scenario is that it was an inside job, they found out who did it, and got the coins returned in return for not filing charges.
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https://venturebeat.com/2018/02/27/algorithmia-launches-ethereum-based-ai-competition/Algorithmia announced an AI competition today that could usher in a new era of machine learning model development using the Ethereum blockchain.
The company is offering 3 Ethereum tokens (worth more than $2,500 as of this writing) to the team that can provide the best algorithm for determining voter preferences in the last presidential election, broken down by latitude and longitude. That contest, which has been coded into a smart contract, will last for 60 days. The first team to submit the most accurate model will be the winner.
This competition is really a proof-of-concept test of a system that could allow anyone to create their own smart contract and solicit a custom machine learning model to solve a particular problem. That could help organizations that want to apply machine learning to a particular problem but don’t have the resources to hire a data scientist. Algorithmia’s method doesn’t require participants to trust one another (since all of the components are controlled by the contract), and it automates reward payment.
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Don't trust any of them. Lots of sites play the "long con". That is, they try to build up a good reputation in order to lure people in, and once everyone is singing their praises, that's when they abscond with all your money.
That was how it went down with MtGox and Cryptsy - people kept praising MtGox because they knew who the owner was, and the exchange had survived and been reliable for about four years, which is an eternity. But they were reliable till the moment they were not. Those people who were paranoid and moved coins off the exchange as soon as they had bought them were safe. Those who trusted them and kept money on the exchanges lost the lot.
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All these news outlets are slightly biased, and that's because they frequently publish press releases uncritically, because they need to fill their website and they don't have the staff to do critical journalism.
I'll give you an example: The Litepay thing was hyped ridiculously with most of these news outlets publishing copes of Charles Lee's tweets about it.
But there was no critical journalism. Litepay claimed they would be issuing a VISA based card. No-one questioned this, despite VISA cancelling arrangements with Xapo, Bitpay, Bitwala and others 6 weeks ago.
Then yesterday, on the day Litepay was due to be launched, they said that they couldn't launch their card because VISA was being "hostile". And we're supposed to believe this was a surprise development!
The point I'm making is that none of the crypto news outlets flagged the potential problem, only forums and subreddits did...
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Who on the earth want "national crypocurrency"? It's the opposite of what Bitcoin trying to achieve.
The answer to that question can be seen clearly. It is a well known fact that government doesn't like anything that cannot be controlled, so they made a national cryptocurrency in order to harness blockchain technology without using decentralized cryptocurrencies. In short, they want to use a cryptocurrency that is not decentralized in order for them to have control over it. But the whole point of the blockchain is that it is decentralised. As soon as you centralise it, you can attack it.
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If Bitcoin is going to be limited always to 21m coins that will be nowhere near enough to go round to everyone in the world. Which would mean there will be a few faceless whales at the top controlling everything. Even worse than the banking system now. And everything a big secret. It's all gone wrong somewhere and I've lost my faith in Bitcoin.
Remember that though bitcoin is limited to 21 million coins, there is no limit to the number of alts created, and some alts have unlimited coins. Bitcoin's market share is only 37% of all cryptocurrency. And that is because although bitcoin is scarce, cryptocurrency isn't
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https://www.coindesk.com/chinas-crypto-exchanges-didnt-just-survive-theyre-thriving/It began like this: officials from the People's Bank of China stepped into the offices of the largest crypto exchanges in the country and sat down with their executives.
From the financial regulator's Shanghai and Beijing bureaus, the officials told the exchanges they were interested in identifying whether anti-money laundering and capital control mandates were being met.
But according to Robin Zhu, chief operating officer at Huobi, the regulators had an ulterior motive that January day.
"The regulator wanted to grab a big picture of how significant cryptocurrency trading was in China - how does bitcoin work; where does the money come from; where does it go to; how do people make and lose money?" Zhu said.
The PBoC also requested information on the exchange's trading volume and user numbers. In addition to the platform's data, Huobi had been regularly submitting information and reports about worldwide government policy in an effort to help the PBoC understand the industry.
Zhu definitely thought something was up. To him, it seemed like the PBoC was gathering information in an order to create a framework for regulating the industry, something many exchanges wouldn't have necessarily been worried about.
But then September came and with it the announcement that the PBoC was banning initial coin offerings (ICOs) and shutting down domestic fiat-to-crypto order book trading.
It seems the inquiries paved the way for the ultimate clampdown, one that severely affected cryptocurrency exchanges in the country.
In a previous interview with CoinDesk, Huobi's founder and CEO Leo Li reported trading volumes followed suit. On November 1, 2017, these figures were just 5 percent of what they were on Sept. 15, the last day before the close of order-book trading.
Yet, not to be deterred, exchanges such as Huobi have continued to thrive, finding new ways to grow their business.
Westward and eastward expansion
In fact, two of China's largest exchanges at the time, Huobi and OKCoin, already have offerings that again rank within the top 10 in the world by trading volume - Huobi Pro and OKEx, two platforms that now trade cryptocurrencies only.
And Zhu told CoinDesk that Huobi Group has more than doubled its staff to over 400 since September, signaling a strong commitment even facing a tightened regulatory landscape.
"The shift to over-the-counter trading is an unexpected pivot to us. We had never anticipated that to be one of our business strategies," said Zhu.
But until some of the pressure is lifted, Huobi is proceeding with an aggressive expansion plan.
Over the past few months, the exchange has opened offices in Hong Kong, Singapore, South Korea and the U.S.
Through partnerships with Japan's SBI Group and an unnamed partner in South Korea, Huobi is expecting its new exchanges in those countries to be running by March of this year. And in San Francisco, the company's new office is focusing on research and fostering blockchain startups, but Huobi has also employed compliance experts that as well, hinting at a possible crypto service launch in the U.S. too.
"Once we have fully understood the legal issue in the U.S., opening a new exchange remains to be the next phase of the plan," Zhu said. Presumably the profits of these exchanges are now taxed in the new locations - so the Chinese govt has lost out.
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There is one element that you have missed out - and that is world events.
Bitcoin was launched just after the great financial crash in Jan 2009 - it's likely that if we hadn't had the credit crunch, it would have never been launched.
It then remained a pure nerd currency until 2013, when the EU decided to seize the savings of the people of Cyprus to bail out their banks. People went bankrupt, as did businesses. There were stories of businesses who had their payroll in their current account ready to send it to their employees and the EU seizing all the money to bail out the banks.
That is the real point bitcoin took off - it's based on distrust of corrupt authorities. Without orgs like the EU stealing people's money, bitcoin wouldn't be as popular, it would be just like second life tokens, a curiosity.
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It's definitely digital gold - and the proof is that some gold funds are investing in bitcoin: https://www.cnbc.com/2017/11/24/a-gold-fund-is-investing-in-bitcoin.htmlThey started ploughing money into bitcoin as soon as the bitcoin price exceeded the price of gold. They then take profits gradually and reinvest in gold. It's a pretty smart strategy that has allowed them to outperform their competitors.
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With the price starting to creep up again do you think it's a good time to start selling some of my investments or do you think it's worth holding on for a while longer?
We all know how temperamental the market can be but do you think this is just a short term spike?
It entirely depends on your own personal circumstances. Did you buy at a lower price than it is now? In other words are you in profit? And is worrying about the price of bitcoin keeping you awake at night? If you are in profit, and you are worrying, then sell an amount that makes you feel less exposed to bitcoin. If you have a lot of other investments and your bitcoins are just play money, then consider holding.
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How long do you think I would have to wait until I break even or see profits? I bought nearly all my coins near ATH, unfortunately. For example - I bought NEBL when it was trading at around $48. It is now $14.04. I bought SUB when it was trading at around $3.25. It is now $0.54. Bought DRGN when it was trading around $5! It's now $1.41. Everytime I see portfolio, I really wonder how much longer time it will take for me to at least break even or see some green. Sometimes, I get worried they will never recover. Should I be worried? Realistically, how long do you think I might have to wait to see some turnaround? Thanks It might be a couple of years. As long as your coins remain listed on the exchanges (which is by no means guaranteed, they delist non-performing coins often), then someone down the line will pump it. If the coin gets delisted, then it's over - the price can't rise if no-one is trading it. Hopefully this was a lesson not to get caught up in hype and to research trends before going in. We've had these alt hypes before, most notably in Dec 2013-Jan 2014, when lots of people got burned.
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After what VISA did to Bitwala, Xapo and others several months ago, I don't know why Litepay thought that they could launch using VISA.
I mean, Bitwala and others have switched to Mastercard - so why didnt Litepay?
It makes me think this whole thing was simply an opportunity to pump litecoin, and there is nothing in the Litepay story, it's never going to launch.
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Let's hope Circle improves things. Might actually use Polo again if they do.
They might. This Circle presentation says that they will be bringing in 80 - 100 personnel. What I like most about it is Circle will make Poloniex the first legal "crypto exchange" that would enable it to legally list tokens that are classified as "securities" by the SEC. Prepare for the emergence of the next great exchange in Bitcoin land. The SEC element explains why Poloniex wants existing legacy members to do a full KYC to continue trading after the first quarter.
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This is all nice and dandy what Bitwalla aims to be.
However, this is one problem. 99% of Bitwala users have already switched their card to other card issuers. Wirex, which also aims to be a bank will deliver their cards in less then 2 weeks. Revolut s been having banking licence for month. So once I switch to another provider, why would I use Bitwalla again? This is a very competitive market and I choose what I do with my own money.
Losing the main card supplier without a backup was a very, very bad move.
Yes. They should have done this last year. Still, better late than never.
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https://www.engadget.com/2018/02/26/bitcoin-mining-quebec-the-big-picture/Bitcoin mining is a weird industry. Vast banks of dedicated computers solve complex equations to generate hashes worth a fraction of a coin, consuming huge amounts of power in the process. For such operations to be economically feasible nowadays, miners need the cheapest electricity possible.
Energy is cheap in certain regions of Asia but many nations there are becoming increasingly hostile to cryptocurrency. China, for instance, is concerned that a sudden Bitcoin collapse could cause economic chaos. More importantly, it wants to cut off cryptocurrency operations near coal-fired energy plants that cause extra pollution in an already-polluted country.
The answer, for many bitcoin miners, is to be found in Quebec. The Canadian province has some of the lowest electricity prices in North America, and produces an energy surplus that amounts to 100 terawatt hours over a decade -- enough to supply 6 million homes in a year, according to Global News. As such, rather than turning away miners like China is, the province's power agency, Hydro Quebec, has been encouraging them to come.
Quebec generates nearly 97 percent of its electricity from hydro projects and produces around 1,245 tonnes of carbon per TWh of power, between 50 and 240 times less than the industry average in North America. Cryptocurrency mining is thus relatively clean and cheap in Quebec, making it interesting for both the province and miners. "Of the world's top five largest blockchain players, we have at least three or four," David Vincent of Hydro Quebec told Reuters.
Bitfarms is one of the biggest players in Quebec, and the above photo was snapped by Reuters photographer Christinne Muschi at one of its four Quebec sites. The company plans to open another three sites in Quebec, and many other players are interested in coming to the province, too. It's even drawing in industries that have nothing to do with Bitcoin, like forestry and paper producers who could rent out space in their factories. "They want space and cheap power," said Resolute Forest Products CEO Chad Wasilenkoff. I really like the idea of having bitcoin mining concenrated in a stable democracy like Canada. It makes the protocol safer because the miners are out of the reach of dictators.
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The volume in the main exchanges seems very low for some time. When this occurs we can expect large short-term swings. I imagine that the market may have a sharp fall, and then a big rise.
Most people are sitting on the sidelines in cash, waiting to see what happens. Lots will have buy orders around the $7000 level just in case there is a flash crash. And the day traders are just battling it out around the $10,000 level, but there arn't enough of them to make the price break out in either direction.
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