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Economy / Economics / Re: Is legalized marijuana good for the economy?? US Citizens might talk here..
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on: April 26, 2018, 10:20:52 PM
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Legalizing marijuana and other drugs seems like a no brainer from so many angles. It allows proper taxation which can generate tax revenue that can be put to good use, it controls consumption and can allow for addicts to get better help, it reduces drug related crimes, I could go on, there are few negatives that I can think of, mostly unverifiable claims that it would increase consumption.
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3
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Economy / Economics / Re: How do you keep yourself from spending on unimportant things?
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on: April 26, 2018, 10:19:02 PM
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I have a few simple things that I do, firstly whenever I decide I want to buy something I always wait a period of time after that initial decision, let's say 2 weeks, if after 2 weeks I still want it then I ask myself why I really need it and if it will improve my life, if the answer is yes then I'll buy it.
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4
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Economy / Speculation / Re: Back to $6000 in 3... 2... 1...
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on: April 26, 2018, 10:16:09 PM
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While there is no way Bitcoin is ever going back to 6000, I did just read that the Mt Gox trustee just moved 16,000 BTC from their wallets, presumably in order to sell soon. Apparently they sold about $400 million during the September crash, and sold a bunch multiple times during the big crash including on Feb 5th when the price plunged down under $6000.
And the article said they still have about 141,000 BTC's left. At a price of $9000/BTC that is $1.3 billion they still have in Bitcoin. If they are gonna keep selling that off bit by bit (and by bit I mean a few hundred million dollars at a time), we're probably gonna have random crashes all over the place this year.
Too bad they aren't just dispersing the bitcoins out to their creditors and instead are giving them money by selling vast amounts of bitcoin at a time, initiating large sell offs repeatedly.
That's all speculation at this point, before they sell anything there has to be another hearing and from that a decision will be made. So there is no chance that any further funds will be sold in the coming months. |
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5
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Economy / Speculation / Re: BTC Price Pullback
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on: April 26, 2018, 10:14:32 PM
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Only the newbies and those who are week-old investors are wanting the price to rise unrelentingly. The rise from $6500 to $9600 in just over a week is surprising and at the same time, worrying. It could be a bull trap or some fake pump for all we know, but luckily the price held and has continued to do so for a couple days now. A much needed correction had already been expected by most traders. This is nothing new; it just resets the market for a bit before we take any direction from there, which is good. $20k is surely achievable, though I don't see it happening this month ir even the next ciming months.
Everything is only based on greedy only, I agree if this is like a fake pump, because if there is a fake pump then when there is correction will occur panic selling and make the market bleeding again. I would not say that it is a fake pump, simple because it happened, it is just not a healthy pump. Price rises should be slow and steady, such rapid increases are not sustainable and people then have the tendency to panic when the inevitable correction happens, easy come, easy go. |
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6
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Economy / Speculation / Re: BTC Price Pullback
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on: April 25, 2018, 10:02:29 PM
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Lol, 20k overnight that's so beyond our limitation lol. We can't really attain 20k overnight. 9k to 20k? I think this will not be the case of bitcoin. I think the pullback of price is connected to what happened to myetherwallet. So the chance of pullback is 100%.
I don't think it's solely attributable to that issue, it's also just a result of an extended period of growth and reaching a level of large resistance. Is there any official word yet on compromised funds from myetherwallet? |
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7
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Economy / Speculation / Re: Back to $6000 in 3... 2... 1...
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on: April 25, 2018, 10:00:58 PM
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Lol this is too funny, I was led to believe we were going to see $11000 in the coming days.
I am so happy to have sold some yesterday, my spidey sense was tingling. Now, lets see if I can buy them back at a bargain price. Why do I make so much more money in a tanking market? Probably because I dont buy when its going up.
Anywayz, buy low, sell high, alwayz works for me. Noobs lose money because they do the exact opposite. Lolz!
It's hard to believe we are going back to 6k. This was only a 10% drop, less in fact, it's nothing major and is perfectly normal in a one day period. I believe it's just the usual resistance when looking to break through psychological barriers, expect to see the price back in the high 9000s and testing the resistance in a few days. |
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9
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Bitcoin / Bitcoin Discussion / Re: ‘Bitcoin’ was the 9th most read article on Wikipedia in 2017
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on: April 25, 2018, 09:55:20 PM
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This isn't much of a surprise to me, given how popular bitcoin was at the end of 2017. It's a shame that so many will have looked at wikipedia, I don't think it's the best way for encouraging new investment and advertising the benefits of bitcoin, a lot of the page is too technical and will lose the majority of readers somewhere along the way
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Other / Archival / Re: Is there is any chance to hit Bitcoin 11k ?
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on: April 24, 2018, 11:13:42 PM
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By next week, probably not. And I hope it doesn't. We don't want bitcoin to go parabolic again, strong and stable growth is much better because it comes without all of the hype and then all of the FUD that follows.
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12
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Other / Off-topic / Re: Isn't crazy how much does bitcoin exchange earn?
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on: April 19, 2018, 10:31:14 PM
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i just did a simple calculation, about 35k bitcoins are traded on GDAX every day. At its current price of $6900 and a trading fee of 0.3%, the exchange puts about $700,000 in its pocket EACH DAY and it is ONLY for bitcoin. After including all other cryptos, this number can go up to more than $2MM. Since the exchange is active 365 days a year, the exchange's annual revenue can reach almost $1bn!!
no matter how the trusted exchange earn, it keeps that they must pay for the whole system manager, security, partners, maintenance and others. im sure with this transparent transaction, the exchange didn't really get as we expected. also the security is the most vulnerable issue of exchange, keep it is not as simple as we think. keep the security is like keeping their the partners Considering all of the unseen costs is something very few people do but I feel that it's still safe to say that exchanges are making ludicrous amounts of money. Right now there is still so much potential for competition in terms of service that competition on fees isn't that major. Once software etc improves further to a stage where there can be little improvements then for newcomers to compete they'll only be able to offer lower fees. |
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Economy / Speculation / Re: Clairvoyant approach versus analytical in investment decision taking on Cryptos.
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on: April 19, 2018, 10:28:36 PM
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I think either approach is incorrect. You should not be taking an approach just because it works in the past nor should you do something repeatedly if it's shown not to work. You should always be iterating and making adjustments to your approach. If something does not work you should consider if it was bad luck or the wrong approach and that's where you should then make adjustments if necessary.
Interesting... but you could indefinitely adjust on something wrong, isn't it ?.... what about working any approach with large number of events OR very low probability events with a smaller number .....to validate any approach... (same thing used for Artificial intelligence validation... You could, but the premise is to always make the best decision with the information you have at hand. After the event you can evaluate that decision and iterate to make improvements on future decisions. I understand the idea that just because something turns out bad does not mean it was the wrong decision, you face this all too often in gambling and trading isn't too far different but it is quite different in that you must be constantly evaluating your decisions and choice making process because the environment you are working within is never static. |
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: How Verge's "partnership" tanked [-25%]
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on: April 19, 2018, 10:25:20 PM
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Exactly! This is such a basic principle that i don't understand why people can't make sense of it. Verge did a good job and was at no fault by announcing and trying to hype the partnership. It is exactly what it was advertised and the partnership is real.
Funny thing is that it seems investors suddenly have morals now. Lol.
It's counter intuitive to pay with crypto though. See: Verge is under fire at the moment. I think even PornHub is trying to hide how bad this partnership truly is now. They changed their logo to something entirely irrelevant...
Funny thing is, that the service when paying with crypto is actually worse. No free week, or any promotion that users would normally get when paying with FIAT. Also no refunds. lol
Morese on that issue, using any cryptocurrency as a means of payment means that the merchant is instantly liquidating. This creates selling pressure and hence lowers the price. Verge has only kept falling since the news were announced.  If the service is worse than that's something Verge should work out with them but there will still be plenty of people willing to sacrifice the additional perks. They may be instantly liquidating or liquidating in batches, or never at all, we do not know. It does create selling pressure but this is only matched in advance by buying pressure. People have to buy the coins in the first place in order to purchase their memberships etc therefore there's an equiibrium and other than potential volatility at has no negative influence on the price. |
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15
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Economy / Speculation / Re: Clairvoyant approach versus analytical in investment decision taking on Cryptos.
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on: April 18, 2018, 10:55:20 PM
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I think either approach is incorrect. You should not be taking an approach just because it works in the past nor should you do something repeatedly if it's shown not to work. You should always be iterating and making adjustments to your approach. If something does not work you should consider if it was bad luck or the wrong approach and that's where you should then make adjustments if necessary.
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: How Verge's "partnership" tanked [-25%]
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on: April 18, 2018, 10:52:01 PM
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announcing an 'announcement' never seems to fail to spark an empty pump. it doesn't matter what the news is it's always going to fall once the news is out. in this particular case it's a reasonable cut above the average junk most coins come out with, but it's still a sell the news event.
Good point. If they simply just didn't "announce the announcement" and suddenly popped up with a pornhub partnership one morning it would have been EPIC. That being said, i believe that the Verge team made a good decision going with pornhub. It's one of the largest websites in the world and has the transaction volume and privacy needs worthy of cryptocurrency. It may take some time before people realize this, but in the end, Verge made a good move with this partnership. But... Who pays for porn these days  A lot more people than you might think. I can't find it right now but just google some statistics of pornhub. You'll see why there are so many ads on porn websites. Imagine all the perverts in the world who pay for prostitution. It remains a business/occupation because it is profitable. What more with online porn where people want to see these people from the comfort and safety of their homes. The only problem is that traditional big businesses are run by boards and majority of them will almost always see "porn" as something taboo. Thats why I believe Verge value when down. But in the long run, the right investors will come and pump Verge till it cums. Announcing it was not something that they could avoid given that they had to crowdfund. IF it was avoidable then we'd surely be looking at threads of people asking if XVG will continue to pump instead of the disappointment. Millions of people still pay for porn, it's still one of the biggest industries in the world. Partnering with a privacy based cryptocurrency makes perfect sense and is a good deal for both XVG and pornhub. |
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: How Verge's "partnership" tanked [-25%]
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on: April 17, 2018, 11:25:24 PM
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As always the crypto space fails to manage expectations and this leads to these situations. I actually believe that Verge did good work and it's a strong partnership for them, however the price should not have increased nearly as much as it did. People expected more and then were disappointed and that's why we've seen the dump.
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: Revenue-sharing crypto
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on: April 17, 2018, 11:23:50 PM
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What do you mean about consensus
It's a common expression to ask what other peoples opinions are. The majority opinion being the consensus. I don't see any major differences between revenue sharing tokens and those which don't. What's important is the overall economics of a token. Many will not revenue share but there will be a constantly increasing demand for the tokens created by the product as well as some sort of supply reduction through a burn or similar. In that scenario it's logical to expect that token value will increase and therefore holding tokens will generate x profit. This is exactly the same as some revenue share token providing x profit. What I mean to say is, neither is better than the other, what's important is that the token is distributed and utilized in a useful manner that benefits supporters of the project. |
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