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Definitely it would have a negative impact on crypto market as Its a highly sensitive market fluctuating highly even for a small negative news.And with such a big financial crisis,i think that crypto market would crash.I think that as earlier,once again people would run towards gold if an economic crisis happens.
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So let's say I sell 1,000 bitcoins why would the market price drop if I did such a thing since the coins are still there in theory just moved to another person or a exchange site?
Yes the coins were still on theory but it would have increased the supply by 1,000 coins to fulfill the buy order as a result of which the price starts to drop.We already know that bitcoin being a decentralized currency solely depends upon the demand and supply for its price.Hence this immediate variation in price. |
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You have forgotten to mention that majority of these are Chinese exchanges and you have comfortably left some renowned exchanges.We need not worry about Chinese gamblers and it's a well known truth that most of Chinese exchanges were supporters of forked coins.
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We have seen many times bitcoin price raising to 11,000 dollars and falling back to 6,000 dollars making it as the bottom price for bitcoin over the last few months.So it would not be a surprise and just a day to day scene.It would once again be a great opportunity for investors to buy cheaper bitcoins.
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There seems no such favorable situations for bitcoin to reach such a price.Its already struggling to cross the 10,000 dollar mark due to continuous FUD.Bitcoin holders now would not be dreaming about such price and they would be happy even if it crosses the 10,000 dollar price.
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It may be due to normal people getting aware of bitcoin's true potential irrespective of FUDs spread in the market which has decreased the rate of panic sellers around the world.Gradually,its becoming a stable currency but still volatility could not be completely avoided.
But this decrease in volatility would decrease interest among traders to trade in bitcoins.
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Nothing other than this could be expected from these corporate guys.They would still continue to speak in this way against cryptos.They don't want any such new technology like cryptos to spread all over the world disturbing the traditional economic firms.
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Japanese Ministry of Finance is going to prepare rules for cross-border transfers of digital money
The Ministry of Finance of Japan is going to prepare in the near future rules for the foreign transfer of digital money.
According to the report of the newspaper Nihon Keizai on April 5, the Ministry of Finance plans to introduce rules under which notice to the authorities should be strictly mandatory if the cost of transferring money for a foreign transfer is more than 30 million yen.
It is said that the decision of the Ministry of Finance will facilitate the consideration of the real situation with operations abroad and is designed to curb money laundering operations.
Source: Alpari
You should really link tot the article not just saying who the source is. But how are they going to enforce this? If you send BTC to a foreign exchange that requires AML and KYC it's pretty simple to track down but if they just transfer to somebody else it's nearly impossible. Also, this limit which is something like 200k euros, is per transfer? Per year? Too many questions and too little information Yes the source should have been provided.It would be very difficult to trace if some one sends cryptos to another person's wallet who is in Japan directly instead of using exchanges. But still this news shows that Japan too has realised that it could not avoid cryptos totally. |
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Any one From India?
Is it true that Cryptos will be banned in India??
Do we have to Pay taxes to Indian Govt. For keeping Cryptos
I'm from India and as far as I know,i heard the news that the RBI has given three months time for bitcoin users to convert them in to fiat.May be after that time,the indian government may take steps against bitcoin users. |
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I think that you have missed Japan in the list of crypto friendly countries and Bangladesh,bolivia,equador and Kyrgyzstan in the list of crypto unfriendly countries.We could see that among the unfriendly countries,most of them are economically small.Such smaller economic countries might fear that they would not be able to control if they allow bitcoin. Quote
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Bitcointalk username: r32godzilla
Current amount of Posts: 551
Bitcore BTX address for payments: 139hKv4LaFBfz4a3dc9nXMyC1zZas2KGTF
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No not yet banned.RBI has said that itwould give three months time for bitcoin holders to convert them in to fiat and quit te bitcoin market.But only after three months,we would clearly come to know that whether bitcoin would be banned or not.For me,i have a friend in dubai and i have decided to sell my bitcoins to him and ask him to send in indian currency to my bank account if such critical situation occurs.
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Bitcoin is the vehicle and we run it.But mostly in the way which core team decides.They are the slow authority to decide.
When considering about normal use,its just like internet being used for improving knowledge or just for seeing porn videos.
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We could understand that Buffett lacks knowledge about new technologies and that's why he is always against bitcoin.But I could not understand that why bil gates too speaks negatively about bitcoin.Persons of such high popularity should think twice before they speakas more investors respect their words.May be bill gates might have some personal interests in influencing bitcoin price negatively.
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Even if we try to buy bitcoins altogether during price dip,its would be very minute over bitcoin price as its is spread widely with such a big network.More over if the big whales have been reacting in opposite direction so as to dump the price more,then all our efforts would go in vain.
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I read an article in which the concerned person says that the ICICI bank in India just held his 1,00,000 dollars if I'm not wrong for almost 21 days without releasing the funds.They have just delayed by asking him to provide proof of his link with the sender and other blah blah blah formalities.The user blames that the bank deliberately did used his funds for other purposes and had delayed in releasing him.He has said that he would dedicate himself for promoting bitcoin. He says that "I really wished I could throw a punch on the banker's face".I feel that almost all the bankers deserve this punch. Here is the link below. " https://www.reddit.com/r/Bitcoin/comments/8ilzmu/this_is_why_bitcoin_should_be_the_only_global/ |
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Already Mt.gox was responsible for the bitcoin crash due to the reason of getting hacked.And now,after Japan court directed the Mt.gox trustee to sell the remaining 8,000 bitcoins.Be ready for yet another price dip.
New investors,be ready to grab this opportunity.
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Username/UID: r32godzilla/109545
Bitcointalk Rank: Hero Member
Current number of posts: 546
Bitcoin Address to send the payment: 1YowaSBuxdLdAarxDVsaMXYEic74GN3TW
My campaign ends tomorrow.Will update signature and avatar if selected.
Regards
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Yes a currency should have a stable price and very minute fluctuations could be bared.But bitcoin has such a huge fluctuation that within a day,its price even increases or decreases up to 1,000 dollars.That's why,no retail merchant is ready to accept bitcoin as payment.
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It's really a good time for those who planned to buy bitcoins as its price has fallen down from the range of 9,000 dollars to 8,000 dollars.But its really a bad time for those who bought bitcoins at the range of 9,000 dollars last week,may be temporarily.
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