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1261  Bitcoin / Bitcoin Discussion / American Express has written an article on cryptocurrencies on: February 25, 2018, 02:13:40 PM
It's surprisingly balanced and realistic. See for yourself:

https://www.americanexpress.com/us/content/foreign-exchange/articles/bitcoin-a-part-of-the-international-payments-landscape/

Quote
The Takeaway

Using bitcoin for international payments potentially increases payment speed and security, reduces costs, and helps to protect businesses from currency volatility in some countries. However, limited international acceptance of bitcoin currently makes it difficult for companies to work entirely in bitcoin. Using bitcoin thus exposes companies to FX risk, which can be significant because of bitcoin’s exchange rate volatility, and for which at present there are few hedging tools. However, as cryptocurrencies and blockchain-based payment systems are more widely adopted, bitcoin seems likely to become an important part of an ever-changing global payments landscape.
1262  Alternate cryptocurrencies / Altcoin Discussion / Re: what do people think about all the ICO's now requiring KYC? on: February 25, 2018, 02:07:11 PM
Well there is an alternative.

Instead of participating in the ICO and giving some unknown developer all your details, sit on your hands and wait. The coin will eventually get listed on some exchanges, including some decentralised exchanges. It will undergo a pump and then a dump.

If at the dumping stage you still feel the project has potential, that is the time to buy, cheap, and without revealing your personal details.
1263  Economy / Economics / Re: Implication of regulation and the securities status on: February 25, 2018, 02:02:40 PM
It would depend on the country itself, of course, as they deal with the issue differently, but in general:

a) Security movement is tightly regulated, so even peer-to-peer trading may be scrutinized
b) Miners may be considered as a "security issuer", so they will need to register themselves, and their sales would have to be tightly regulated
c) Selling Bitcoins may require even individuals with small amounts to have permits

Still, I imagine each case will have to be looked at individually, so the smaller players may not be affected at all, not to mention that it's likely impossible to track every single transaction. We'll see, I guess.

I don't think miners will be regarded as a security issue. Remember, they don't send any transactions at all, they just maintain the ledger, they are accountants.

With a), there have been a lot of scam ICOs, so there will be regulation which means ICOs will only be done for real projects

and c) would come under existing money laundering rules. So large movements will be scrutinised, but small movements not. (Because who on earth launders small amounts like $100?)
1264  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: February 25, 2018, 01:54:25 PM
Monero infected the LA Times website:

https://www.techrepublic.com/article/l-a-times-website-injected-with-monero-cryptocurrency-mining-script/

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The cryptojacking attack appears to have persisted for weeks before being addressed, as it was configured to not max out CPU usage. Hackers injected it through an unsecured AWS S3 bucket.

I wish they'd stop doing this. Pissing off the press is not the way to get crypto adopted.
1265  Economy / Speculation / Re: Bitcoin recovery on: February 25, 2018, 01:47:50 PM
BTC resistance level is at 9.5k . Bulls have to fights with bears to hold resistance level.

if bull wins , we can expect to see 15k level soon , probably in March  else Btc again can see 7-8k level.

Bitcoin is below $9,500 at the moment.

I voted for the $7000 - $10,000. In order for it to break above that range, there either needs to be some good news, or some world event that makes people switch to bitcoin, or some reason to tempt noobs into crypto.

I can't see where any of that will come from, so we are going to trend sideways for a bit.
1266  Alternate cryptocurrencies / Altcoin Discussion / Re: US State Georgia next in line to accept cryptocurrency for taxes on: February 25, 2018, 01:02:03 PM
Good to see more state giving crytocurrencies consideration, but what I don't understand is what some people are saying. Cryptocurrencies especially Bitcoin is recognized by Government even US government some months ago there were auctions of Bitcoin in Australia and US, so if not recognized then who are they selling it to

It's been recognised as an ASSET.

But if you can pay your taxes using bitcoin, then it is a CURRENCY. That is the breakthrough.
1267  Bitcoin / Bitcoin Discussion / Re: Will it make sense if someone turned bitcoin into paper money? on: February 25, 2018, 12:56:30 PM
Just crossed my mind today. Will it make sense if someone will create a paper money equivalent of bitcoin? And the coins will be the smallest unit of bitcoin, Satoshi? Like the currency today?  I think it is okay if it became a globally accepted currency. And it will serve as a payment for everyday goods. What do you think?

We already have a paper money world! There are 190 different paper currencies to choose from.

Satoshi's breakthrough was how to create digital cash that couldn't be doublespent. It need to be on the net because that's the whole point of it.
1268  Bitcoin / Bitcoin Discussion / Re: Bitcoin affects students' performance in school on: February 25, 2018, 12:42:15 PM
As far as I can observe being a teacher, I am definitely happy that my students are involve in cryptocurrencies and they earn for themselves and help their families. But, their school perfomance is getting worse. Please give your thoughts how will you help students to earn and at the same time it won't affect their school works?

What makes you think their school performance is being affected by Crypto rather than the thousand and one other things going on in their lives?
1269  Bitcoin / Bitcoin Discussion / Re: Millions btc stolen, tortured for btc, why can't the criminals address be found? on: February 25, 2018, 12:29:13 PM
Lots of criminals HAVE been caught through the blockchain. For example the criminal admin at BTC-E who hacked MtGox and then sold the coins.

You can find the whole fascinating story in the following article:

https://bravenewcoin.com/news/mtgox-btc-e-and-the-missing-coins-a-living-timeline-of-the-greatest-cyber-crime-ever/

Alexander Vinnick is awaiting trial for stealing $4 billion worth of bitcoin.
1270  Economy / Economics / Re: Rational Economy with Bitcoin on: February 25, 2018, 11:54:00 AM
Remember that there are about 1500 cryptocurencies, and most alts have solved the problems listed in teh article. For example faster confirmations, ability to handle many more transactions per second, privacy and so on.

The crypto revolution is here to stay, it just won't be a bitcoin economy, it will be some other coin that makes it big.
1271  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Can I make at least $50,000 profit in 1 year with this portfolio? on: February 25, 2018, 11:35:57 AM
These are my investments and how much I put in them. Looking to HODL until December 2018 or Jan/Feb 2019.

BTC ($500)  << $2000
ETH ($500)  << $2000
LTC ($500)   << $2000
NEO ($500)  << $3000
VEN ($500)  << $1500
ICX ($500)   << $2000
EOS ($500)  << $1500
NEB ($500)  << $5000
ENG ($500)  << $2000
SUB ($200)  << $800
WABI ($200) << $600
POE ($200)   << $400
LEND ($200) << $200
DRGN ($200) << $800
UTRUST ($200) << $800

THOUGHTS???

 Smiley

That's my rough break down of those coins, some could go the other way, some could do better.
If I'm right all up that's $24,600 and a lot will come down to BTC price, I can't see ETH and LTC doing 4x sat value this year.

$50,000 is possible but will require a very good year, you've got quite a few high cap coins which have recently been pumped.

I would love to say we will do as good as 2017, but as of right now I don't think we will.

You are being too generous. Some of those coins will lose value, others will perhaps hold their initial investment value.

We're in a bear market, people. Coins behave differently in a bear market than they do in a bull one.
1272  Alternate cryptocurrencies / Altcoin Discussion / Re: US State Georgia next in line to accept cryptocurrency for taxes on: February 25, 2018, 11:21:06 AM
I'm curious how many people from the whole Georgia own at least small amount of cryptos. The annual volume  probably will be about some thousands USD (ofc unless any crypto related business is located there).

The reason these states are doing this is that they want to attract cryptoenthusiasts to them. At the moment there might be only a few people in Georgia who own crypto. But in five years time they might have attracted a nice taxpaying community to their state.
1273  Alternate cryptocurrencies / Altcoin Discussion / 46% of Last Year’s ICOs Have Failed Already on: February 25, 2018, 11:16:33 AM
https://news.bitcoin.com/46-last-years-icos-failed-already/

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Given enough time, everything withers and dies, from the most robust institutions to the most popular crowdsales. No one expected all of 2017’s ICOs to last the course. The pace at which they’ve withered and died may come as a surprise though. Tokendata, one of the more comprehensive ICO trackers, lists 902 crowdsales which took place last year. Of these, 142 failed at the funding stage and a further 276 have since failed, either due to taking the money and running, or slowly fading into obscurity. This means that 46% of last year’s ICOs have already failed.

The number of ICOs that are still a going concern is actually even lower. An additional 113 ICOs can be classified as “semi-failed”, either because their team has stopped communicating on social media, or because their community is so small as to mean the project has no chance of success. This means that 59% of last year’s crowdsales are either confirmed failures or failures-in-the-making.

Trawling through 900 ICOs in one sitting is a deeply depressing experience, news.Bitcoin.com can report. Abandoned Twitter accounts, empty Telegram groups, websites no longer hosted, and communities no longer tended are par for the course. A digital graveyard, complete with metaphorical tumbleweed, characterizes the crop of 2017 that decided to take the money and run. Many raised zero; some raised a couple of thousand dollars; and a handful raised over $10 million. In each case, the end result was the same though: no MVP, no alpha release, and no contribution to the decentralized web for the betterment of humanity.

Many of the dead ICOs were doomed from the start. It will come as no surprise to learn that projects such as Clitcoin, Neverdie, and Zero Traffic didn’t make it. (Update: Neverdie has since been in touch to claim that reports of its demise are premature.) Some, which fell flat at the fundraising stage, are doing it all over again this year and hoping that 2017’s failure can be written off as a trial run. Freight trucking platform Doft is one such example. Looking at the countries of origin for failed ICOs shows that developing nations – and an entire continent in the case of Africa – are over-represented. Nevertheless, every major country and continent features in the list of shame.

How many people on this board have lost money on an ICO?

1274  Economy / Trading Discussion / Re: Top reasons that leads to fail in trading on: February 25, 2018, 11:11:11 AM


Actually it's putting all your eggs into one basket is the one way that you can actually reach your goals in investing. Imagine investing in a winning coin/token but since you've diversified, you've only reached a fraction of supposed earnings.

Diversifiying is for people with low-medium risk appetite, if you've got the guts and knows your decisions well, you might as well risk it all.

What if you haven't chosen the winning token? Imagine investing everything in a token that becomes worthless...

Going All-In and imagining that you can pick the winner, is a sign of a gambling mentality.
1275  Other / Beginners & Help / Re: LitePay Card for LiteCoin? on: February 25, 2018, 11:06:54 AM
Litepay is claiming you can spend your litecoins in dollars via a VISA card. I don't see how this is possible after VISA severed their ties with pre-paid bitcoin cards.

Perhaps the card is mastercard instead - but there is nothing on the website which says it is.
1276  Economy / Trading Discussion / Re: END OF YEAR MARKETCAP on: February 25, 2018, 10:57:30 AM
According to Virginia senator Mark Warner crypto market could hit  20 Trillion in 2020. He spoke at the US Senate and added  "if we had the same rate of increase the next two years that we've had the last couple of years,we're talking now a couple hundred billion,we'd be at North of 20 Trillion dollars caught up in this area by 2020." I can't even imagine if it happens. So let's take ours positions Smiley

The idea that we could have the same rate of increase in the future that we did in the past is idiocy.

Nothing goes up in a straight line. I personally think bitcoin is going to go sideways and won't reach December 2017 levels till 2019. There are no new buyers coming forth, and bitcoin is going backwards on merchant adoption.
1277  Economy / Speculation / Re: Guess we're not out of this bear cycle yet, huh? on: February 25, 2018, 10:48:28 AM
So when in the world will we break out of this bear cycle? When do you think it will end?

Maybe not for a while. The 2014-2015 bear market was a slow bleed where the price went from $1000 to $170. It then took the whole of 2016 for it to climb from $170  back to $1000.

So it might take three years to get back to $20,000.
1278  Bitcoin / Bitcoin Discussion / Re: Bitcoin volatility and dumps when Asia s awake on: February 24, 2018, 01:32:07 PM
Perhaps on the American exchanges it is pre futures activity?

The most recent batch of futures closed on Friday February 23rd and will be cash settled on Feb 28th. If it is the futures that caused the American spot market action, it should calm down next week.
1279  Bitcoin / Bitcoin Discussion / Cryptocurrency Makes Up Only 0.17% of All Money Laundering Cases in Japan on: February 24, 2018, 01:20:49 PM
http://bitcoinist.com/cryptocurrency-japanese-money-laundering/

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According to reports, the National Police Agency in Japan suspects 669 cases of cryptocurrency-utilized money laundering between the months of April and December.

The reports come directly from the cryptocurrency exchange operators themselves, which are obligated under Japanese regulatory measures to report suspicious transactions which may signal money laundering. The measure has been established to prevent criminal transactions — one of the biggest fears associated with digital currencies.

It is important to note, however, that the overall number of suspected money-laundering cases in Japan in 2017 currently stands at 400,043 — which means cryptocurrency cases reported during those 9 months only accounts for less than 0.17 percent of all suspected money-laundering cases.

The incredibly small percentage of crypto-utilized money-laundering cases seems to undermine the argument that digital currencies are tools for criminals looking to wash their money, though it could admittedly suggest many criminal cryptocurrency transactions go unnoticed.

What triggers a report from Japanese exchange operators is not currently known, though — according to Reuters — “questionable transactions repeated frequently in a short span of time” are likely what raises red flags.
1280  Bitcoin / Bitcoin Discussion / Re: What Will It Take For Bitcoin To Replace The Dollar In Everyday Transactions on: February 24, 2018, 01:12:36 PM

The issue is that although the mempool has now cleared, and transactions with fees as low as 5 sats/byte are clearing in a few minutes, nothing has fundamentally changed yet. The mempool could get clogged back up tomorrow, and we could again see fees of over 500 sats/byte still waiting 24+ hours to clear.

Until this fundamental problem is addressed, and we can say that mempool will always be clear, and fees will always be low, bitcoin will never replace the dollar.

Agree. And the other threat is alts moving into the merchant space. For example Litepay launches on Feb 26th, and they're hoping to persuade merchants to enable it and accept litecoin. At some point you'll get merchants accepting alts more than bitcoin - which would be the deathknell of bitcoin once the press found out.
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