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1181  Other / Beginners & Help / Re: day trading on: June 21, 2018, 09:29:48 AM
It's not too different from how you would day trade stocks, except most analyses don't really amount to much and everything moves 24/7 (so maybe it is a lot different lmao). Crypto prices run on hype for the most part and are highly speculative. I would suggest putting in a small amount to try it first because it's definitely not for everyone.
1182  Economy / Speculation / Re: How high would Bitcoin go with McAfee as president? on: June 21, 2018, 08:55:06 AM
Yeah, he was being a bit evasive... Why do you think that is? Maybe he wants to stay relatively neutral? Didn't want to ruffle vers chicken feathers?

He has friends from both camps as far as I know, so I'm guessing not just Ver's feathers lol. I personally don't fault him for this though, because it's not like supporting Bitcoin and Bitcoin Cash are mutually exclusive. Die hards certainly make it look like it, but it shouldn't be.

But yeah no one should take him seriously lol
1183  Bitcoin / Bitcoin Discussion / Re: new delhi,india : Bitcoin gold sold as bitcoin to uneducated investors ! on: June 21, 2018, 08:24:17 AM
you both have good points here. but here is my thought process  which is why i said that.
when i don't even know what bitcoin is, i search for it. and when i do i find out that i need a wallet. any bitcoin wallet will generate bitcoin addresses for me and when the scammer asks me for my address i will give him my bitcoin address in hopes that i receive bitcoin.
when he sends me BTG i wouldn't be able to see it in my wallet. so how would i even pay him for what i do not see?

I completely agree. Everyone should exercise due diligence when purchasing anything because mistakes can be costly. If someone bought Bitcoin Gold instead Bitcoin because he didn't do proper research, it's his fault.

OP's post, on the other hand, implies that fraud took place. This wasn't a case of:

they were giving their money away and these so called scammers took it from them. Wink

...but is instead a case of scammers scamming money out of them. There are victims and an offender. They could have prevented it, yes, but I wouldn't fault them because they didn't know about address formats specifically; that's not an area newbie would normally focus on anyway.

I do get where you're coming from, but I'm personally against victim blaming, so let's just agree to disagree.
1184  Economy / Speculation / Re: Is there an only reason for the current market? on: June 20, 2018, 02:44:29 PM
If there was just one reason I could attribute this market to, it's probably the furious rally last December. Bitcoin went full mainstream as a speculative asset, and those new to the market either made money off it or got burned by it. At this point, a lot of people are able to say that they've tried it and have moved on from it, ignoring its technological potential. The general public's interest seems to have hit a roadblock, with nothing to keep them engaged.

But yeah, it's probably a lot complicated than that in reality. Crypto has grown a lot bigger since the Mt. Gox collapse, so it should be quite safe to assume that there are a lot more moving parts now.
1185  Economy / Speculation / Re: South Korean exchange hacks causing Bitcoin price drops, but less consequential. on: June 20, 2018, 02:08:05 PM
Seems that people are less likely to panic sell as news of hacks emerge.

The way I see it, there are two possible reasons for this:

One, it's possible that weak hands have already been shaken out. There haven't been any crazy slides that can be attributed to one or two things happening worldwide, so it's certainly possible that there are far less panic sellers at the market nowadays.

Two, it's possible that people have already been desensitized to exchanges being hacked. Nearly everyone who has spent some time in crypto would know not to keep their money in exchanges anymore because it is already assumed that poor security is a given.

But yeah I guess we can only really speculate. It seems to be working both ways because no piece of good news can power a surge either.
1186  Economy / Speculation / Re: How high would Bitcoin go with McAfee as president? on: June 20, 2018, 01:50:03 PM
It depends on how much he stands to gain from it lol. I know I should probably be more supportive because he does aim for exposure, but I can't find it in me to trust a shill. If he goes where the money goes, what if the other "powers" he likes speaking of has enough money to buy him off?

But yeah, if we're speculating anyway, Trump's (not so subtle) tweets could send stocks up and down, so a direct endorsement from the POTUS himself should go a long way. Investors are going to rush in anticipating a boom. He could definitely reach the $1m prediction if he wanted to, though I don't think it'll happen overnight.
1187  Bitcoin / Bitcoin Discussion / Re: new delhi,india : Bitcoin gold sold as bitcoin to uneducated investors ! on: June 20, 2018, 12:30:10 PM
how can you sell another coin in place of bitcoin? specially when the address format is different!

when someone can't even see the difference between an address starting with G and starting with 1, 3, bc1 then they deserve to lose money in my opinion. it has nothing to do with scammers, it was more like a giveaway by the newbies. they were giving their money away and these so called scammers took it from them. Wink

I wouldn't really expect newbies to be knowledgeable about address formats. Heck, lots of people here who are barely newbies anymore don't even know what segwit addresses are, judging by some of the applications for segwit-required campaigns.

Either way, for all newbies know, Bitcoin could just be short for Bitcoin Gold, a la Dollars to US Dollars. They should certainly have exercised due diligence, but I would blame the fraudster a thousand times before I put any blame on the victims. This is not their fault.

Seriously though, should newbies learn all about forks before getting involved in the market too? This is just unfortunate, as it raises the technical knowledge barrier of entry even higher.
1188  Bitcoin / Bitcoin Discussion / Re: Will it be illegal to trade cryptocurrencies in India after July 7th on: June 20, 2018, 12:05:49 PM
Not at all! RBI has instructed banks to stop providing banking services to the exchanges involved in the cryptocurrency trades (I am sure this is beyond their authority) but as the individual users, we can anyway trade it using banking system (RTGS/NEFT/UPI) and to make it convenient, platforms like Localbitcoins is a good option. Exchanges are looking to find the way to deal with this issue.

This is the answer you're looking for. It won't be illegal for anything -- their central bank just wants all banks to cut ties with crypto-related customers. You can still use your bank account for crypto related transactions without any legal repercussions, for example. Your bank will simply stop providing you service if you do. You won't go to jail for any legitimate activity.

It also has to be noted that there's a hearing scheduled for July 20th which discusses the royal bank circular. If the Supreme Court rules it to be unconstitutional, banks won't have a basis to close your account for getting involved with crypto anymore.
1189  Other / Beginners & Help / Re: How convert my's token(ncash) to BTC on: June 20, 2018, 06:33:14 AM
What is that error mean?
Should i charge ETH in my wallat?
How many?
I don't want to charge my wallet again.What should i do?


Have you opened that link yourself? Here is what it says:

Each transaction (including token and contract transactions) require gas and that gas is paid in ETH. You can think of this like a transaction fee.

That means you do need to charge ETH into your wallet. There aren't really any alternatives because you can't transfer tokens without paying gas.
1190  Other / Beginners & Help / Re: High-quality group chats on: June 20, 2018, 06:22:06 AM
Hi guys,

I wonder which group chat you are participating in. Is there a list of telegram groups by country. I need more suggestions on groups where members post high-quality content. Thanks.

Some more details would be helpful. Where are you from? What kind of discussions do you primarily want to participate in? Do you want to participate in chats of specific altcoins?

Personally, I think you should stick to respective coins' official channels. Most Telegram groups seem to be of the pump and dump nature and doesn't really contain anything of substance and you can never trust anyone. You can at least find support and news from official channels.
1191  Bitcoin / Legal / Re: All ICOs are classified as "security" in USA - SEC chairman Jay Clayton on: June 20, 2018, 06:11:05 AM
Statements or opinions should not always be taken as a final decision even if they come from the head of the SEC itself it doesn't make it in anyway binding, Of course the views of one political chair will be different from the legislative assembly which is more powerful as they can create laws with regards to regulation of ICOs.

So what would you follow then? There are no current legislations in the United States as far as ICOs, specifically, go. There are only legislation about securities themselves, and the SEC decides if something falls into that category. That means their statements and/or opinions are somewhat binding in this case because they themselves decide whether you need to follow the regulations or not.
1192  Bitcoin / Legal / Re: All ICOs are classified as "security" in USA - SEC chairman Jay Clayton on: June 19, 2018, 01:51:33 PM
I'm confused, because I just found a more recent statement from an SEC representative that not all ICOs are securities:

I imagine this must be frustrating for the few teams out there who are planning to launch a legitimate ICO lol. I mean, if you're going to regulate it anyway, you may as well regulate it in such a way that compliance is as easy and clear-cut as possible.
1193  Economy / Speculation / Re: Did you buy bitcoin in December 2017? on: June 19, 2018, 01:28:21 PM
If you understand that Bitcoin is a long term investment, you wouldn't panic when the price falls within some short period of time. We will all laugh soon

This is the funny thing though. Most people who put money in the December rush likely wanted to earn easy bucks by riding the wave. Lots of them have probably already cut their losses and sold low (I'm assuming that panic selling was a huge factor in the massive slide). I can't imagine casual users being very enthusiastic about their investment dropping around 30% of what it once was lol.

Still, you're not wrong. Those who are still HODLing on, you don't lose any money until you sell at a loss. No one really has any idea when Bitcoin will reach such heights again, but if Bitcoin's development proceeds as it should, I feel like it's an inevitability. Wait until you break even at least!
1194  Economy / Economics / Re: [Research] Clearance Comparison - Cryptocurrencies vs Credit Cards on: June 19, 2018, 01:17:20 PM
2. FYI, there is no way Bitcoin does 3k transactions per second. Are you referring to 3,000 the number or something else?

Not the guy you replied to, but I thought that I would point out that it doesn't look like his "3tx/sec" has a "k", so you might have misread because of the spacing or lack thereof. So yeah, he meant 3 transactions per second lol.

First of all,I do not agree on the efficiency of cryptocurrency especially Bitcoin.Credit cards,in this case Visa do process 2k tx/sec while Bitcoin 3tx/sec,that's a huge difference.So yeah I think Bitcoin is really not efficient in terms of transacting.

As for the article itself, wow that's long. I would have loved to see a discussion about crypto's learning curve and user experience in the practicality section though, because that seems to be a pretty big factor among self-declared non-techies. I personally think it's really easy, but that it should be tackled when discussing crypto's practicality vs. other options. Some people may find setting up a proper wallet be more daunting than simply filling out paper work to their banks, for example.

Overall I can kind of sense that you're a bit biased towards crypto, but it's an informative write up nonetheless. Good work!
1195  Economy / Economics / Re: How much money and bitcoins do you need to influence the price? on: June 19, 2018, 01:01:12 PM
There are way too many factors to accurately estimate such a figure. It has to be noted that even a small slump can cause panic traders to sell, so it might not even take that much to begin with for as long as enough people go with the flow. Another factor is the actual amount of circulating coins; lots of them are lost forever, and lots of them are in cold storages, so we have no idea how much Bitcoins are actually on the market, making market cap even less reliable of a metric. Manipulators won't come out in the open either, so we won't get to hear their side of the story.

IMO the best place to begin is with the Mt. Gox trustee. People found out that he unloaded $400 million worth of Bitcoins, and they were so quick to say (some even had numbers IIRC) that that sale caused the price slide then. It turned out he had nothing to do with it, but it may be reasonable to believe that such an amount could drop Bitcoin's price by a couple of thousands by itself.

Still, I'd say most of the manipulation going on at the moment has more to do with questionable buy and sell orders rather than a whale or two dropping or gobbling up an absurd amount of coins.
1196  Bitcoin / Legal / Re: Market manipulation on: June 19, 2018, 12:41:40 PM
Lmao. This story kind of puts into perspective how much larger in scale manipulation in traditional markets are. Tether and its bullshit kind of pales in comparison, along with the allegations of exchanges with fake volume. Detractors can't point towards market manipulation as a downside to the crypto market if it happens everywhere.

I know that $65 million is a massive amount, but is essentially a slap on the wrist considering the magnitude of manipulation. It's still something compared to crypto manipulators generally roaming free though.
1197  Bitcoin / Bitcoin Discussion / Re: What will happen if bitcoin to fiat exchanges are banned ? on: June 19, 2018, 08:56:59 AM
Deep under I believe that people are really not interested in the use of bitcoins in a decentralized platform/application but more interested in converting Bitcoins in to USD. Fiat currencies still seems to be the norm. Any ideas ??  

I agree with your assessment, unfortunately. Bitcoin came into popularity as an asset with explosive gains in value, so the general public views it as such. Think about it: Bitcoin is a currency (or should be, at least) and is meant to be spent, but it's more associated with HODLing and Lambos than decentralization and payment systems.

I think the bottom line is that people don't find any real utility in Bitcoin in its current iteration. It definitely has niche cases like cross-border money transfers where it's hard to top, but that's too obscure a use-case for most people to actively start using it. Few people also see little use for decentralization, because most of the population who can take risks are not under a failing economy. While the current financial systems do have a lot of flaws, most seem to be rather satisfied with them.

But yeah, if Bitcoin technology advances far enough that it's just as easy, if not as easy, as swiping a credit card, people will start taking its utility seriously. That's my two satoshis on the matter at least.
1198  Bitcoin / Bitcoin Discussion / Re: Future developers: Cryptocurrency or Blockchain Technology? on: June 19, 2018, 08:30:25 AM
The crypto market is already completely overrun with so many coins that it's going to be nearly impossible for even a decent project to stand out. If you choose to focus on cryptocurrency development, you basically have two choices: you either create a revolutionary crypto that takes the market by storm (or work for a team that did), or you work for a failing project and go broke.

Blockchain technology, on the other hand, seems to still have plenty of untapped potential, along with a lot of future prospective work. I would personally go with blockchain technology all the way, though there's really nothing stopping you from learning about both.
1199  Other / Beginners & Help / Re: help with electrum transfer on: June 19, 2018, 07:31:05 AM
Can you tell me how to increase the payment on the transaction so I don't have several days to wait?

You can only increase the transaction fee on transactions you sent out yourself. The only way you can possibly influence an incoming transaction is by using Bitcoin acceleration services like this.

That being said, it's only really rough until you get the hang of it. It doesn't seem like you were provided a proper Bitcoin Transaction ID in this case so your concern was justified. You should typically be able to see and track everything, including the fee the sender paid, etc. The best way to learn is by trying things out yourself, but you could always ask around here if you need any questions answered Smiley
1200  Other / Beginners & Help / Re: ICO on: June 19, 2018, 07:17:13 AM
Most ICOs are scams, and even legitimate projects have a low chance of success[1]. The odds are stacked heavily against you, so I would personally discourage you from participating at all. It's true, however, that the upsides are pretty promising, so if you really want to go for it, make sure you do your due diligence: read the white paper, Google the team members, scrutinize their claims, etc. Good luck!

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