That will be a question if what will happen if bitcoin continue its fall of price? What will be the impact to the investors and traders?

....

China appears to be adopting the inverse polar opposite of a cashless society.

This makes for an interesting contrast with other nations many of whom view a transition to cashless payment systems as being a natural progression.

If someone wanted to cite reasons behind china adopting the opposite of a cashless society, while many other nations of the world embraced the opposite abstract--how would they explain this? What would the main motive behind differences in policy be?

Hi all,
there's a lot of companies which conduct Anti-Money-Laundering services regarding Bitcoin and other cryptocurrencies. However, most of them operate in the dark and work with tax authorities, secret services, police and so on. I don't want to sound paranoid, but a lot of crypto exchanges work with them.
This thread will - hopefully - grow over the time. It is meant to collect information on the AML-providers, who they share their data with as well as who works with them.

Hopefully at some point relatively soon we'll have scraped the bottom price wise. For exchanges and so on that's good news as a moving price makes money even if it's on its way down.

What's likely to happen afterwards will be month after month of nothingness. Most people will be gone. Price will have a barely detectable pulse. Many fewer will want to spend or trade. Anybody whose income comes from fees will find they ain't getting any.

Which services do you think will weather this and which will croak?

I'm sure most of you know that most money is actually created by banks through fractional reserve lending.  Our economy is stimulated by people constantly taking out loans to make purchases.  But with bitcoin you can't loan money that doesn't exist.  Maybe we would have to change our consumerism as a society and prices would drop.  Being able to borrow money easily makes everything rise in price.   What are your thoughts?

I have this question: What Is Guarantee For Increasing BTC Price?
1-If there is No Guarantee, why you buy BTC than?
2- If is there any Guarantee For Increasing BTC Price than tell me what Guarantee  is excatly.
3- If you think BTC price will go up just because people buy it, Than tell me Where is the one Trillion US dollars that just evaporated this year in crypto going to come from, to take BTC back to its last high?
 

Since a few weeks Dropil is listed in Bitmart. I was happy at first that there was another exchange that I could use to exchange my DROPs. So, I signed up at Birmart and I transferred my DROPs profit from the last Dex period to Bitmart in order to exchange them to ETH. All was fine at first. The sell order I made was filled quickly, so after that I wanted to withdraw my ETH.

Then I was confronted with the fact that I had to identify myself, in order to withdraw just a little over half an ETH.

I am all for KYC, it is a step in the right direction and will help a lot. Bitmart though seem to have a strange idea about how KYC should be enforced. They allow you to make deposits without asking for KYC. They allow you to create sell orders without having identified yourself. They also take the profits from your sell orders when they are filled. All that without asking you to identify yourself.

However, when you have exchanged your crypto and you want to withdraw it, then the ask you to identify yourself! If you do not participate in their KYC, they do not allow you to withdraw it! So you either participate in their KYC, or your crypto remains trapped...

They claim that their:
"KYC regulations are intended to ensure that exchange platforms are aware of the identities of their customers to ensure that unauthorized individuals (such as minors or criminals) don’t have access to certain services. That means without knowing customers' identity, there is no way to proof the source of fund is legitimate or not."

The problems with the way they implement KYC are the following:
1) Bitmart is giving all their customers access to their services without previously enforcing KYC. They only go into enforcing KYC when their customers have already had access to the services they provide.
2) They have already collected fees from the use of the exchanges before enforcing KYC. So they have already worked with and have been in business with potential "unauthorized individuals (such as minors or criminals)" as they call their customers, before asking them to participate in their KYC process. This means that they are already collaborators of potential "unauthorized individuals (such as minors or criminals)", before they try to enforce KYC.
3) The way that they implement KYC leads to most users being surprised by the fact that KYC is required in order to withdraw their crypto. So it is a kind of entrapment.
4) There is also the issue of them not setting different withdrawal limits, with different identification levels, as most exchanges do. Asking for KYC in order to be able to withdraw half an ETH is insane.
5) As I value my privacy very much and I do not wish to participate in their KYC, I also suggested that they manually return my ETH to my MEW wallet and then close my Bitmart account after that. They never responded to this request either...

To make a long story short. I am not sure if Bitmart are just trying to entrap their customers, or if they do not have the ability to understand how wrong the way is they are trying to implement KYC.

I have tried explaining them where they are wrong, but I do not seem to have gotten through. I doubt my points were even passed over to someone with the ability to understand them, even though I have asked for this to happen.

I would hereby like to warn everybody about the KYC trap Bitmart has set for you. Please be aware of it and do not fall for it. Personally I would recommend that everybody stays away from Bitmart, at least until they remove their KYC trap.

The Japanese government is seeking to impose measures aimed at preventing cryptocurrency traders and investors from evading taxes on the income generated from trading these assets.

According to The Mainichi, the measures would see the country’s tax body, the National Tax Agency (NTA), empowered to demand that cryptocurrency exchanges provide information concerning clients who are suspected of tax evasion.

It is understood that the government will introduce the measures as part of the tax reforms that are set to be published in the fiscal year 2019. The measures could be implemented sometime in 2020 after the publication period has elapsed.

Income Tax Act
Currently, the Income Tax Act places profits generated from trading or investing in cryptocurrencies under the miscellaneous income category. The law requires that salaried workers who earn a minimum of 200,000 yen from cryptocurrency trading and investing annually to declare such earnings as income.

It is understood that a high number of individuals in the country made huge profits from trading and investing in cryptocurrencies following the historic bull run of digital assets towards the end of 2017. Last year, more than 300 individuals declared that they had earned a minimum of 100 million yen from trading and investing in cryptocurrencies. But the NTA is of the view that cases of tax evasion in the sector are increasing and that the number reported was too low as CCN has previously reported.

At the moment, cryptocurrency exchanges are only required to provide information on their clients to the NTA voluntarily. But the reforms that the government is seeking to carry out will give the tax body authority to demand such information from the exchanges. This information includes individual identification numbers, addresses and names.

Information Protection Concerns
However, to prevent abuse of the new measures the government will only allow the NTA to demand information on those believed to have made at least ten million yen from trading in cryptocurrencies. Additionally, the information will only be demanded if the NTA has evidence that a particular individual failed to disclose at least 50% of that income.

This comes less than two months since a committee of tax experts in Japan called for the country’s tax filing process to be simplified.

    Japanese Government to Simplify Cryptocurrency Taxation Process https://t.co/3wWcE6cUQV

    — CCN (@CryptoCoinsNews) October 20, 2018

At the time, the committee claimed that the process was complicated and this served to discourage cryptocurrency traders and investors from declaring their digital assets when filing tax returns. But by simplifying the process, the committee argued, tax compliance would be enhanced.


Reference: https://www.ccn.com/japan-to-force-crypto-exchanges-tell-on-suspected-tax-evaders/

Looking at BTC-USD on the weekly chart i came to see yet another potentially worse scenario ahead !






However there is some GOOD news here!

the 2900-3600 is rather a very strong support zone as seems to be on the weekly chart.

So there is a good chance that this may be the end of the bear trend,even though the 2900$ seems to be the most reliable bottom within this green support zone but anything from TOP to BOTTOM of this zone is actually a good support on the weekly trend. but the good news are unlikely to play out ! sadly !

The bad news is !, there is almost no sort of any support beneath this 2900$-3600$.

The nearest support area that we can count on would be 950$ to 1350$ .  WTF 

There is however a minor support at 1900$ but that support was only tested once as a part of a small correction during the last bull run in July 2017.

now some might argue and say I am crazy to even think that we can actually go to prices this low, but really this is the disadvantage of a bull run that did not stop to make mark any support on it's way. easy come easy go !

in this topic https://bitcointalk.org/index.php?topic=5071613.msg48030883#msg48030883

i mentioned about the importance of breaking the 5800-6000 levels , and to most traders it was a clear sign of going short as there was no sign of support for at least 30% down the way. and BTC did actually drop 36% from there.

again breaking the 2900$ support could easily do another -35% or in fact well over -50% should the weak support at 1900$ fail to hold ( very likely ) and take us straight to 950$-1350$.


so long story short, the bulls need to defend this green support area as this will be their last resort before another collapse in price, which indeed won't be over night, and could take months to actually get there.

the bright side however from a TA point of view, that the easier it comes the easier it goes.,with these fast dips, we are creating less resistance points on the way back up ( in the future). the sharp fall from 5800 to 3600 created no serious resistance, so it won't be much of a surprise to see a single candle shoot from 4k to 5.5k which is unlikely of course giving the nature of the current bear trend.

now this is from a technical point of view.

Taking the fundamental part of it, it does not look less miserable.

if you have to name a working business that uses bitcoin and is generating any sort of considerable income, then i could be wrong. aside from Exchanges and Mining Hardware manufacturers the use case of Bitcoin is still very limited and way far from deserving a market of 800 billion $. taking the whole crypto market in the picture, what has any crypto currency done to the world yet ? 99% of it is either a scam coin or nothing but a copy-paste token with a better looking whitepaper.

to me , the fundamental aspect is less important, because what took btc to 20k was not the fundamentals but rather the technical, it was the greed, people look at the chart to see an insanely rising trend, kept jumping on to make money , rising the price and that's all about it.

now the way I look at the bigger picture of any new market is that, the rich / the whales or whatever you name them have to make the most of it. there is noway they will let all the geeks who out of passion bought thousands of BTCs for almost no price to become millionaires just like that. despite the vision of bitcoin, it will never set people free the way many people think. you need to suffer to be set free, it won't be as easy as you think it is. the whales need to take every single BTC they can from you before they can approve the market and allow it grow into a trillion $ market.

as long as we still call 3k to be bottom then it most likely won't be, since we are physiologically prepared for this point, so many of us are not panicking and still holding to our coins, they will still try to make it look worse, put you in a position where you really start to think BTC is going to 0, once that happen then moon comes.

now again this all could be wrong, maybe at this price the majority of the holders are not willing to sell anymore and the whales do not have a magic stick to force it , and if that's the case then we could moon up from here. but really what are the odds?

to me i take TA very seriously,its been working just fine for me, i do not sit there desperately waiting for moon when the price is collapsing , I do not cash out any profit from trading unless i need to , the plan is to get more BTCs  by selling every possible chance and buying at a lower price. so this is no FUD what so ever. if you are a trader, then you might need to start thinking of the possible scenarios ahead, be ready to act accordingly , try to get as much BTC as you can, so that in 5 years time you can quite your boring job and live free.

this bear scenario only ends with a daily candle closing above at least 7500$ , anything aside from that will be nothing but bull traps for the poor to fall in. remember there will always be good chances to go low. if you think the price is still going down and you are afraid to miss the bottom entry then you will be rekt. however if you are accumulating bitcoin only to sell it 5-10 years from now then you should not worry about 50% decline because it is only minor for long term.

This is not a financial advice what so ever, do whatever the fudge you want to do with your own money.
 

and , Good luck !