THANKS to all the panic switchers.. just cashed out my 1.16 original bcc fork-coins @2300 and after that: instant dump.. Best part: BTC is on the rise again.
Cheers on me tonight.
its not over yet. im thinking they are going to try again with the "the damned hash power went away" attack. moreso than them taking hashpower away from from btc into an alt, this is shaking confidence in bitcoin generally, slowing down adoption and degrading trust in the protocol. i feel bad for the bros that at a dick during all this; there were some serious, real signs that it might have flipped flopped into BCH. it really came down to faith, and honestly I jumped ship but got back off after the ride. so feel truly bad for the bros that drank the koolaid, and purchase BCH at 1900-2000. this is why this shit needs to be regulated; sometimes it is impossible to do diligence in a timely fashion, without losing out in the meanwhile. |
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I must admit that I only started investng in Bitcoin at around the $3000 price, but I saw it soar to nearly $8k in anticipation of the Seg2 split....which is now void...and the price is instantly plummeting as Bitcoin Cash is soaring? WTF! I've lost $2k in Btc in 48 hours? Is BTC going to continue spiralling downward and for how long? What is the bottom going to be? Am I supposed to just transfer everything to Bitcoin Cash?
Advice for a noob? Thanks kindy!
EDIT: OR DOES ANY OF THIS HAVE TO DO WITH TOMORROW'S BITCOIN GOLD FORK?
this is more a power play/market manipulation from the BCh camp. im not mad at it, survival of the fittest. if we are truly going to be democratic about this, then the will of the consensus rules. its a bit too late to be butthurt because we allowed the consensus to be subverted; its time to take it back by out scaling with mining capacity. anywho, sit this out unless you are willing to take the hit for the sake of liquidity, and lower your opportunity cost. notice how bitcoin cash isnt soaring anymore, with that being said dont be surprised if it takes off again, this isnt over yet. |
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Learn to be patient the reason of that is the traffic in every trasanction in blockchain. But sooner it will confirmed just wait.
NO,
quit being a pansy and paying 20X more than what is needed and waiting 20X as long to receive it.
Use Bitcoin Cash or Litecoin both of them work fast at a fraction of segshitcoin prices.There is a difference between being Patient and just being a downright Fool.╥Aztek lol that was harsh, but I have to agree. there is little sense in paying extra for pretty much an unavoidable outcome. if you are trying to do some transacting in a timely and safe manner at the moment, there is only like 500+ other blockchains you can choose from. not so keen if you are trying to buy something with btc at them moment, but why the fuck would you be doing that, given the state of the network? personally, all the bitcoins are on my list atm, so using everything but. but really though, this is an entire ecosphere. not just bitcoin, im all about bitcoin, but use all of the advantages we are provided. doge is fast af, and damn near free to boot, as an additional example. |
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Everyone wanted higher bitcoin price and we achieved this but another problem become transaction fees. When bitcoin's price was low, we had to pay also low fee and now when it rised, we have to pay high fee in bitcoins and plus that high fee is more higher with current price. Is this fair? The higher the price, the more money miners have with bitcoin exchange.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.
first off, not everyone is so enthused with this dramatic rise in bitcoin price (as I have been calling this for months, we are now in a major correction). the bubble has deflated, not popped. anyway, the current price scheme is pretty democratic, essentially you pay for prioritization; if your transaction is not imperative, then you pretty much decide what fee you want to pay. but the fees are fair, its just the price is too god damned high, and the fees are proportional. this is a result of the price entirely to freaking high. when we get to more sensible levels, it wont be so jarring. *initial post* |
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There is no big puzzle about this. Bitcoincash is going to do a consensus fork on November 13th to fix it's emergency difficuloty adjustment and make it less volatile.
They're pumping the coin to ensure that it is still worth mining when the fork happens.
At least they have a community effort to make BCH something worth mining, if we had something like that happening with Bitcoin it would be a giant clusterfuck until the fork came around. I don't know why there are some people that are so dedicated to making BCH viable, it's a weak (until recently) coin that was riding off of the main chain until people started to dumb retard amounts of money into it. It's not like it matters to me that much, but it seems surprising that anyone would want to be this committed to involving themselves in BCH. But it's their money and their community, good for them if it is taking off like that. im thinking someone is trying to kick start adoption by using market conditions to make BCH a bit more attractive than it is. notice the timing of this extreme bump in price, and notice the severity of the bump. im curious to see if the mining capacity picks up as well on bch  but this seems like a ploy; i dont think this will be a short term play however. mr wu is still probably wanting bch to garner more adoption than BTC, this is the perfect storm of bullshit that can foster than change, or move us closer towards it. i will start to get concerned when I see btc lose market cap to bch. that, might be an issue |
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After a meeting last Tuesday among Russian President Vladimir Putin with the Central Bank of Russia, he said that the Central Bank should avoid making hasty 'ban' decisions about digital currencies. He also said that the government will work together with Vitalik Buterin and the Ethereum platform to improve the government's system. Now, authorities say that bitcoin and other digital currencies will be legally regulated from exchange to mining. "We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally." -Anton Siluanov, Finance Minister of Russia. See here: https://news.bitcoin.com/putin-confirms-russia-regulate-cryptocurrenciesi will stop and applaud the approach that Russia is using towards cryptocurrencies (obvious aml/kyc regulation, but a studied hand towards other aspects of regulation). with that being said, they dont have too much of a choice at the moment. the sanctions they are under are crippling that economy, they seriously need a way to subvert those sanctions, it wouldnt be wise to ride the ship all the way underwater. since all this Russia election fiasco is still a work in progress, we can safely assume that sanctions are not going to be lifted any time soon; in fact odds are the level of sanctions will increase (observe the North Korean situation). what better way to avoid international sanctions than embrace bitcoin, a borderless currency, or i dunno, make up a brand new state issued crypto? in Russia, bitcoin mine you |
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Is it legal to gamble with Bitcoin in the US? Oklahoma? Asking for a friend..... lol
if you are of the age of majority, able to gamble, and have reported the bitcoin and intend to report your winnings, you should be fine. be sure to save records of your transactions within the casino, they usually have a csv you can export if you need to be able to provide a record. this is general for United States citizens; Im not quite sure of the specific laws that govern Oklahoma concerning gambling. alot of it has to do with the casino you used is licensed. if they are unregulated, that comes back on you a bit, but mostly reflects poorly on them. so use a decent casino, not a fly by night, that asks you for identity documentation (if they are legit, they pretty much have to conduct proper aml/kyc if they serve US citizens) |
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Its down over $500 from yesterday and seems like its going to go down more. I hope not.
its all up in the air right now, courtesy of all this fork bullshit. this is a correction yes, but this is moreso a reaction. correction to me, with all this unexplained growth over the past year, is us readjusting back down to those previous levels. im thinking its going to start deadcatting at some point, esp if we have any more fork controversy in the near future. while its variable in other markets (eth is down, but some erc20s are up), the depressing is affecting the entire ecosphere remember when people used to actually be afraid of forks? its like this shit is old hat now  |
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Now there are 3 groups, who are trying to control the bitcoin. First the top 6 executive, currently who has all power, and called off the segwit 2x fork. 2nd the mine farm, who also has control 30% of power and 3rd the stakeholder. 1. 6 Top executive who called off the segwit 2x fork 24 hours ago, and within minutes we seen the result of increasing all alt coin as well as bitcoin price, as some where happy it won't be divided. So that means those 6 people has so much power and controlling bitcoin future. Which is not good! 2. Bitcoin miner who want segwit 2x to happens, because they don't want those 6 people control bitcoin, as they also wants power. So they will go ahead with segwit2x fork anyways, it says on their website which can be found here https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/2017-November/000689.htmlAlso here one group claiming they also will go ahead with the fork: https://bitcoin2x.org/3. Bitcoin stakeholder, they also don't want those 6 people control the bitcoin, and bitcoin transaction is slow, now they want to leave bitcoin and jump into Bitcoin Cash, because it has more power & speed than bitcoin, so they trying to make BCH is the main bitcoin. That's why you see all of sudden all price going down but Bitcoin Cash price going up, because more and more stakeholder moving bitcoin to bitcoin cash. So this is game of power, not sure who will win end of the day but, we the average ppl will lose so much money because of some greedy people. Buy Bitcoin Cash & Dump Bitcoinif you mean winter is coming, then I can agree with that  if this is just a "readjustment" , then the actual correction is going to be carnage. like the China news, all we are going to see is a bunch of volatile sidewaysing/ gradual decline until there is a clear message about the path ahead. i wouldnt tell everyone to throw in the towel just yet; we are still young and of course we are going to see shit like this in our early years. but yes, this is pure greed/a power grab. and i wouldnt be so rosy on bch either; there is a lot of intrigue behind that split as well. keep calm and.. i really dont know, people. |
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Hi,
I'm new here. Bought in to bitcoin at £5100, sold at £6050, then bought back in at £5400, but it seems to be dropping.
Should I trade all my BTC for BCH on the short term or is it too late to get in to BCH?
BCT seems to be losing me money by the minute.
Thanks.
If you would have jumped in when you wrote this, you could have caught some guaranteed profit. as I type this its a bit late; there may be some additional uptrend or volatility but I wouldnt suggest it personally (im not a big risk hound, I dont like gambling). before you do invest however, consider a few points. why is the price increasing so much, and why now? i will posit that people may be using bch as a safe haven given all the uncertainty around the fork situation. but would it justify this price increase, give how widely distributed it already is. tldr: why are people so interested in it all of a sudden. also consider; why so much gain? is it legit that there is so much demand for bch right now that the price should have gone up this much? if you cant answer all that, then mayhap you should reconsider your purchase |
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Well it sure must have been lucrative for most businesses that started early with bitcoin accepted payments. Their money has gone times 5 atleast if they holded.
Maybe Bitcoin will never be accepted at Amazon, maybe another coin will fill that role.
Right?! I think about gyft and egifter all the time, those dudes processed millions of dollars worth of bitcoin alone back in the day, when it was sub 1000 (i know i sent them my fair share at least ) but as per op, I dont think this price level is indicative of the level of adoption; this is an easily manipulated market with a bunch of uneducated participants with little formal trading education. hence noobs and bubble, dont expect this to keep up at the same rate forever. if the price keeps going up like this, these fees are going to hamper this very use case of bitcoin. |
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Wow, bitcoin price is increasing everyday at lightening speed!
Are you not afraid someday 1 bitcoin will become currency for the rich dudes?
I know we all want to buy and save more bitcoins in pieces, but the way bitcoin price is going are we really going to keep up?
Edit: I'm talking about owning BTC1 or BTC2... I know people can buy satoshis and save in their wallets.
What do you think, guys?
Bitcoin kinda already is priced into the elite zone, imo. we werent supposed to go this high this fast; a price at this level should be indicative of extremely widespread adoption, something we really dont have right now. this is speculation, pure and simple. just because of the known distribution, everyone should try to get at least 1 btc. it will take a while but its not impossible in most econies; just actually save the shit and dont try to speculate unless you know what you are doing |
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I live in the US do you get taxed on gain if you buy and sell and make a profit on bitcoin? thanks
Yes. You are required by law to report ALL income to the IRS, regardless of the source, and then to pay the appropriate taxes on that income after taking whatever deductions and credits you are entitled to. Absolutely, but there is a caveat with cryptos (bitcoin in this particular instance). bitcoins are subject to regular income tax when they are gained as wages, or spent as wages (bills, food, shit like that). but if bitcoin is only held as a speculative asset, then they will be taxed when sold, according to capital gains tax. if you are a miner it is a bit of both; if you plan to spend the mining proceeds as living wages, then you have to report them as wages. if you are mining to sell at a later date (a speculative move, not a house sustaining income generation event) then when you sell, you will be fee'd cap gains tax, according to the gains. |
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Either go get a job and use your wages to buy bitcoin, or look for gigs online on some website like upwork or fiverr with whatever skills you currently have, and use the wages again to buy bitcoin. You can't make bitcoin appear out of nowhere.
Amen. Alot of us are spoiled on all this unwarranted gain, we seem to forget that you dont get value out of thin air LOL. bitcoin is an asset people, the fastest way to accrue value in something like this is to simply gt a job and use a portion of your wages to buy BTC. I recommend working online; its how i make my living, but you need a pretty seriously specialized skill in order to make enough money online, unless you live in a place that doesnt really cost a lot to live in. Get a job on a serious job platform; use something everyone else can't do (translation maybe?) to generate a revenue stream. |
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In Michigan local bitcoins charged with unlicensed money transmitting. A regular user of Localbitcoins (a facilitator of exchanging fiat currencies for bitcoin) was formally charged in United States District Court. The Michigan man is accused of violating money transmitting business licensing requirements.
If you are doing business why would you not have all the proper licenses to operate.....
people arent taking this shit seriously, because the government didnt send strong enough signals in the beginning. at first they kind of ignored btc; there were aware of the criminal aspects of the sphere but the price was entirely too low to create a serious risk of capital flight, or money laundering. we heard stirrings about tax when we breached 1k; a little bit before this it became imperative to treat this as though you are a msb, an to get all the proper lics. notice how at this price level, we are seeing prosecution pick up, as well as rapid regulation. if we gain any more any faster, they will come down increasingly harder |
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of course ! with china's acceptance, it will certainly boost bitcoin's value
amen, and positive attitude. we cant be mad at china for this; we should kind of expect this at this point (they dont do so good with releasing news LOL) but besides the fact that they never really let up one bit on the mining throughout the entire debacle, we truly dont want to see China out of the market. despite how we may feel about the rumor mill, it didnt have a lasting effect on the price (this time) and to not include that market would be a serious step back for a adoption. that decreased demand could eventually translate to weak support down the road, and increased volatility. |
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I thought for sure it would take until the end of 2018 but it looks like this summer ethereum might pass it up. With the turmoil around BTC potential splitting, it might be very soon. IMO this is healthy, we will always value bitcoin for being the one that started it all, but it's time for a more dynamic and adaptable currency to take the lead.
im absolutely in love with Ethereum, but i dont think it will surpass bitcoin in price. first off, if the prices start correcting that aggressively and dynamically, they are more likely to meet in the middle. you arent going to see bitcoin price stagnate long enough for eth for straight up outpace it; it will come down quite a bit as that capital flows out of bitcoin ans into eth. secondly, moreso than the price getting surpassed, I think we would see the volume getting surpassed. way easier feat to accomplish, and would make sense if the cause of the "shift" was organic, and not manufactured pump and dump bullshittery |
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Hello pals,
Recently I introduced Bitcoin and cryptocurrency to my friends and family,they liked the concept but they asked me a question that I wasn't able to answer.Is Bitcoin really secure?What if a hacker was able to hack Bitcoin system/blockchain?Who manages Bitcoin security and what are the security measures taken to avoid hackers being able to steal Bitcoins?Why Bitcoin is not blocked for those who use it illegally by buying/selling in the deepweb market?What if governements ban Bitcoin because of these people?
I really appreciate if you guys give me some answers
the protocol isnt really in danger of being "hacked"; it can be attacked, but by design these attacks would require very large amounts of resources to carry out, and arent really feasible to do. the code is pretty secure because its been peer reviewed by a great many people. if there is a major exploit still left in there it is a gem; however we do expose ourselves a bit when we introduce new code to the protocol. what is able to be hacked quite easily is you  much easier to use malicious code to steal your private keys, and empty your wallet. so, bitcoin isnt really all that hackable, but the people that use it are the low hanging fruit of the equation. |
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Is it good combination about bitcoin and our current government? lets talk about this things if these two option was combined in the future, Our government used bitcoin and spread to every people in there countries. For me it is good. why?
Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.
Theres a lot of good reason.
But i could make every one of the same arguments for a fiat as well. and since the fiat is already in place as an accepted payment medium, it is highly unlikely any major gov will shift over to bitcoin as a main currency. maybe an alt of their own creation. but bitcoin already has too much adoption globally to be safe enough to use as a main fora nation. and it would be really easy to attack the wealth of the nation; all you have to do is dump coins and crash the price. the citizens will lose massive value overnight, and the government will be pretty much in the same shape. sounds like the quickest way to end a war with someone. crash their economy |
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As we know nowadays everybody uses cryptocurrenies and specially Bitcoin in their trades and criminals too. China recently declares blockchain illegal in that country, How likely do you think is that other countries ban it?
If they start to ban it, what would be happen to bitcoin price?
An outright ban is possible but unlikely. will certainly happen in places with a religious objection, and places with suffering economies that cant afford the capital flight that bitcoin affords. but regulation is the more likely outcome, as a ban would likely IMMEDIATELY cause massive capital flight (nobody is going to just sit there and eat a loss for no good reason, people are going to liquidate as soon as possible). price will do exactly what it did on the China rumors, as this was essentially the worst possible outcome that everyone was fearing. go down shakily until the news is concrete, then rebound. |
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