Bitcoin can definitely help in terms of international trade.

Whether that be between company and company trading, or individuals accessing goods and services from other countries. I think that bitcoin will serve a really important purpose in aiding the transactions in both scenarios, imho.

Traditional international pamyent methods used in internationl business/trade involve long clearing times (you would know if you ever used SWIFT), and huge fees that are paid to banks.

Bitcoin takes out both. Transactions are instant, and there is no foreign exchange fees or percentage fees involved. All there is is a small transaction fee, whatever the amount is. That is far greater and will defintely benefit businesses or even consumers who adopt BTC as a international form of payment for commercial activities.

It will be similar as they are both markets under heavy bearish sentiment, and are just coming off a huge bull market in the previous year. However, the factors here are not the same and I doubt that the prices are going to move exactly the same.

2014 is the part of the reason why I think that bitcoin has some more room to fall before the prices bottomed out, as the prices in 2014 took around 19 months before finally bottoming out. Although not exact, I think that this bear market should last at the very least until Q4 of the year before prices start to move upwards.

Of course, circumstances are different, and I think that this bear market may be shortened due to circumstances such as the fact that there is no single major hack that the community needed to recover from (Mt Gox), and there is new interest from investors from mainstream institutions. All of these factors could lead to a quicker recovery.

The markets have simply not reacted as strongly to Bithumb's hack for some reason. Perhaps it's because of people buying at prices sub-$7000 to accumulate that are keeping the prices up, or perhaps hacks just don't bother traders anymore.

I don't think that prices have bottomed though.

Personally, I think that the bottom is probably somewhere between $3-5k given how past bear markets have performed in relation to the peak of the bull market. It could be lower, it could be higher. But even though $6k is the support for now, I wouldn't be confident in saying that it's going to recover into a bull market from this point on.

It's obviously not known when exactly it will happen, but for me, I believe that it's going to take at least a few more months (until at least Q4) before we see any sort of big rebound or recovery within the market.

The reason is that even though the markets seem quite steady at the $6k level, I just don't think that that is going to be the floor.

We're likely going to see more dips and corrections before a major recovery. And based on price history from the past, we usually see the recovery 1-2 years after the prices peak.

Arbitao seems like an obvious scam to me at this point.

Their most telling thing about them is their ponzi like plan structure. They literally have bronze plans, silver plans, etc. that profit on a consistent basis of over 0.5% per day, which is always indicative of a ponzi. Arbitrage is a thing that has been used in ponzis as its back story many many times.

Not to mention their fail with the big ben, which was clearly a faked image. There is nothing legit about this scam whatsoever.

Yes, we are in a bear market. Everyone knows that by now. And we're unlikely of get out of this current bear market for at least a few more months, after the recovery comes. So don't expect any bullish momentum to stem out of the market at this current moment.

However, is it really to say that bitcoin is going to be dead for the long term as well?

I don't remember how many times people have said that bitcoin is dead. It's not, it's still in the early adoption phases. These bull/bear markets are just a part of the cycles within the market, and nothing more. Long term, prices will still increase as adoption increases. It's really as simple as that.

Looking at all of this info, I think it's very shady.

They are promising investors that they will get listed on a lot of exchangse. If it just yobit, then I would be alright with it since yobit is virtually pay-to-list in most cases. However, you can't guarantee listing on other major exchanges such as bittrex, and he is trying to pass that promise off as a fact.

That is extremely shady for me, at least. It's misleading advertising at best tbh. Nothing is guaranteed.

Cex.io is okay. They have had some issues with fiat withdrawals that basically tainted their reputation, but at least unlike a lot of other exchanges, they are at least pretty active in terms of customer support. They don't just do nothing to help the customer.

However, I would recommend shapeshift if you are just exchanging small amounts under 0.5 BTC. They have been proven to be anonymous and pretty safe. You also dont have any counterparty risk as you are not storing money on any site.

Binance is good as well. However, you are only restricted to around 2 BTC per day equivalent for withdrawals for unverified accounts. I'd go with them if you're willing to verify.

You should try following up with the regarding the problem.

Otherwise, it would be unfair for you as they could literally have any sort of suspicion and still be able to restrict access to your account. If they want to suspend your account, they should first always provide proof of why they are doing so, and on what grounds/suspcions they are coming from. I'd be interested to know what the issue was that led to this suspension as I don't see any apparent ones.

Nice to hear that everything is sorted out, though. LBC is still a great platform to use if you are willing to ID yourself, but probably not so great anymore if you want to remain anonymous.

I don't get it though. Cex, OP said that he already provided all of this required information in the past. Otherwise, he wouldn't be a verified account. Why are you guys requesting him to send over his docs again?

Also, what purpose is it going to achieve looking into his other exchange accounts? Surely he has the right to privacy to his dealings on other, completely unrelated platforms? Why do you guys need that info?

@OP I would still suggest not to trust the speed of cex fiat withdrawals. Don't expect it to be instant. Even though officially all issues are resolved, you never know what's going to happen in your case considering their history.

This is the risk that people should have known when investing in HF.

Not only is cloud mining completely unprofitable in the long run, there is always the risk of the company that you invest in not being actually legitimate but instead running a ponzi scheme or becoming insolvent with withdrawals/customer funds.

Hashflare has previously already demonstrated that they are completely untrustworthy through the increase of minimum withdrawal to absurd levels (which is actually preventing people from withdrawing right now).

This current scenario could be because of difficulty increasing, and dropping prices, which again proves the fact that cloud mining is unprofitable. Or, it may just be the result of hashflare not being able to afford payouts anymore.

Either way, it'll be interesting to see what goes on next, whether they terminate existing contracts or not. But cloud mining is definitely something to avoid, especially hashflare.

It actually says on the front page that the price after ICO would be $15, while the ICO prices is only around ~$1.

So yeah, even if they haven't gone scam yet, I'd expect the to ditch the project completely extremely soon.

There is no way anyone can guarantee the prices after ICO. That's literally what they are doing here, by saying that the value of your token will be guaranteed to rise to $15, which is just absurd. They have no business model whatsoever, no verifiable team, and their site design is mediocre at best. This is not how real ICOs operate. They are literally just an ERC20 token that is backed up by complete BS.

Also, they are promising to list the token to various exchanges, which they haven't done. Safe to call this one a scam.

You still haven't answered the question. Why did you lie about the fact that you received 16 BTC from said user:


If you didn't receive those 16 bitcoins why are you refunding him now without any objections? Or, more likely, why were you previously denying the fact that you received money from the user, when clearly it can be seen on the letter of guarantee that he has deposited it? Also, why did you make comments about how the letter of guarantee could be easily manipulated at the start of this accuastion instead of trying to address the situation sooner?


Anyways, don't think that everyone's on you just because of Chipmixer. It's because you are a shady business.

I mean, this is why you don't make your investment decisions based on what others say, even if they seem to be a knowledgeable public figure. While I do think that bitcoin is going to increase further in the long run, I don't agree with many of the things that these people like Tom Lee and John McAfee say.

Him shifting the goalpost is definitely just further proof for that.

But anyways, $25k by the end of 2018 was absurd from the start. There is virtually no momentum upwards and a strong resistance at $10k, with strong bearish sentiments within the market. Prices probably haven't even bottomed out yet. I doubt that an ATH would even be likely by 2019, which is his new prediction, so take his predictions with a huge grain of salt. But, at least it's not as absurd as McAfee.

I'm actually quite surprised at the way that markets didn't move much despite the hack.

In fact, there is no significant drop in value in bitcoin whatsoever.

Even though this is the case, I don't think that it's safe to say that we're entering a period of bullishness yet which is what some people are suggesting. The markets are still pretty bearish sentimented. However, I do see a lot of support at $6.5k or so as seen by the price movements in spite of this hack. It could either mean that markets have become increasingly insensitive to hacks now, or that prices are close to the true bottom.

I like how on the thread, they say that it's because LoyceV is an employee of Chipmixer (which isn't even the case) that he is somehow just creating all this drama, while completely disregarding the fact that the relevant proof is there and verified.

Safe to say that looking from their attitude alone, this is probably just an exit scam and they're trying to prolong the lifespan of it by getting in as many deposits as possible.

Claiming that they haven't received anything while there is evidence verified by both Vod and LoyceV is almost comical.

But anyways, be safe out there. Plenty of scam mixers, and always make sure you research on the newest reviews before you use any mixer.

Trevon James himself is someone that I would never trust. His content on youtube essentially misled thousands of people to invest in Bitconnect, which is an obvious ponzi scheme at the start, and he knew it and still took advantage of the people who believed him.

A coin that involves his name asking for investments? I wouldn't even bother clicking into the website.

But anyways, the whole idea of how PoTJ works is literally the definition of an organized pyramid/ponzi scheme. New deposits pay for older ones. I'm not surprised about Trevon James launching yet another scam, but it just completely labels him as a scammer now. Yes, everything is transparent. But someone can easily be misled into investing in this, thinking that it's a legitimate investment opportunity.

To me, the biggest reason is still probably the fact that the growth that was seen through the bull market was just unsustainable for the long run, and it had to end sooner or later. And when it did end, the amount of weak hands in the market meant that a panic dump was inevitable as the market sentiment shifted to the pessimistic end.

I don't think that exchange hacks have played much of a role in this year's crash, actually.

Some people say it's because of futures, but to me, a correction was inevitable as soon as bitcoin hit $10k which signified some pretty unsustainable growth. That's just how the markets move, in cycles. And right now, we're just in a bearish phase.

I think that there will be likely a new bull market that emerges before 2022 comes around.

But that's not to say that $250k is anything realistic. To me, it's just too high of a price and too high of a percentage gain for BTC to hit without some sort of imminent fiat collapse that happens first to drive the nominal value of BTC up.

The next bull market is unlikely to result in more than 2000% increases from the bottom imho. I think that 6 figures could be a possibility, but $250k is just too far fetched for now.

Bitcoin itself can not be regulated. First you have to realize that. This is because of the fact that bitcoin is decentralized, and no central entity will ever be able to assert regulatory measures on top of the bitcoin blockchain.

However, regulations on exchanges, hosted wallets, etc. are what's possible and what's happening right now.

I think that these regulations are needed to an extent to protect users from fraudulent bitcoin-businesses. However, it shouldn't become restrictive to the point that it affects how people access and use bitcoin itself.