Taxes can still be collected, even if you're using bitcoin to transact.

Bitcoin is only a currency, just like every major fiat currency over the world. Bitcoin and taxes are not mutually exclusive. Just like cash, if someone uses bitcoin, and they are obliged to pay x amount of tax, then they still have to pay it.

It's not like bitcoin is a magical tax-haven. If bitcoin was to go mainstream, trust that the government will defend their revenue by implementing new rules and such. Don't worry about a country failing because of bitcoin, it's simply illogical.

If your application is pending review for over a day, then it probably means that they are just currently flooded with requests right now and aren't ready to process yours in time. Apparently, some people have got their's in way less than a day's time.

If it hasn't been processed for more than say, a week, then you should probably start messaging support and ask them what is wrong.

I'd just like to say though that without a legacy account on which people are able to trade without verification, there is virtually no reason to use poloniex anymore. Even though Circle has bought them out, there doesn't seem to be much signs of improvements.

What is really interesting in the article is this:


I believe this is what every government should be doing.

Instead of trying to restrict people from accessing and using bitcoin, creating an environment where Fintech startups, or crypto startups are able to exist with advantageous tax rates are going to mean in the long term, more revenue in the economy.

Whichever country starts endorsing crypto, and Fintech usage the most and first, will reap the most benefits over the long run.

Not everyone who invests knows that it's a ponzi scheme, but I agree with you.

It's these scams that taints the reputation of bitcoin. People confuse bitcoin with ponzi schemes that are named similarly to bitcoin, and newbies don't know how to distinguish them.

I need to give credit to the South African police here, for at least attempting to investigate this. A lot of ponzi schemes, even after they collapse, face no consequences whatsoever even though they are obviously not lawful investment companies. This is where crypto regulation can be useful, in stopping scams, not restricting access to bitcoin itself.

Wow, it's crazy isn't it.

What really strikes me is how rudimentary and basic these conferences looked back then.

A span of 4 years has seen another bull market, but that's not the main part imo. Bitcoin adoption has been growing like crazy over the past few years, and bitcoin, which is something that was previously considered to be shady, is now making it into the mainstream. That's the most important difference, not the price.

It's been known pretty much since day 1 of bitcoin speculation becoming a thing - bitcoin's pricing can be strongly influenced by mood of the market, or market sentiment. Even though it may be clear that bitcoin is entering a buy zone, people may still panic sell under the circumstances and drive prices even lower before bottoming out.

The effect isn't much, in my opinion. Only effect I could think of is that it's a reason why bitcoin is currently so volatile. People not yet are adopting it as a unit of account in trade, but more of an investment, which leads to increased volatility due to the psychological nature of trading. It's not really that big of a deal.

It's not something horrible. It's the case with any asset class that is being traded, not just bitcoin.

Bitcoin's adoption is still in its early stages. Even though you can see that people are starting to talk about bitcoin, whether in day to day life or in the media, it's nowhere near mainstream. And it's that potential that I think will make bitcoin a great investment.

$20k is possible. We've nearly been to that figure before. It's only a matter of when the next bull market is, honestly.

However, as I said, the underlying factor in my opinion that will drive bitcoin prices up long term is adoption, and usage. That will go up in the long run, and it'll mean more demand for bitcoin, and that results in increased value in the long term. Right now, we're seeing a pretty sluggish market due to the bearish sentiments. These parts of the bull/bear cycle do exist, and there is nothing to panic about.

Exactly. That was what I'm thinking as well.

If it was indeed located in China then the authorities have the right to shut it down or force it to go overseas at any time. That's completely unknown to us. If it's located overseas, then which country's jurisdiction does it fall under? All of this is uncertain.


That's a good point, but honestly small traders have better options like Binance. Big traders may deposit and only when they withdraw, find out that the min. withdrawal is 0.1 BTC without verification.

Anyways, all of these reasons combined just makes this a very risky exchange to use. I would not use them personally.

Without a doubt, any long term investment portfolio should have to include bitcoin in it, simply because it is a good store of value and is dissociated from the traditional banking sectors. And that's why a lot of investors, including myself, are involved in investing in bitcoin.

I would definitely say that putting away a sum of money each week or month into bitcoin, in order to save up for your retirement, is a good plan to have.

However, I would still diversify my portfolio simply because you don't have any source of income when you retire. If you don't diversify, then you're essentially relying on bitcoin to be in a bull market when you retire, which isn't always the case.

Well, diversifying anything will reduce the risk of it. That's just facts.

But I like the statement that bitcoin is independent from any other asset class. And I agree - this is why bitcoin is so attractive as an investment to prospective investors, because it offers a hedge against fiat, stocks, housing, anything, because it's completely independent.

Even though it's independent, it's still a long term store of value because it's decentralized. That's the true beauty of bitcoin as an investment. So yeah, bitcoin can honestly not only reduce the risk of your portfolio, but also make it grow a lot faster in the future as adoption grows.

I doubt that there is a correlation between facebook's share prices, and bitcoin prices. Even though facebook has indeed banned crypto ads, it shouldn't result in such a massive and dramatic inverse correlation all of a sudden.

What we're seeing right now is merely a continuation of the bear market from the start of the year.

There was a pretty big rally last month that got people out and FOMO buying - but if you look at the long term cycle of bitcoin prices, there is still a long way to go before the recovery comes.

I would not call it an apocalypse at all, it's something that is expected as it is simply a part of the bear market that bitcoin goes through every so often. Plus, price has not been as volatile as the 2014 crash if you compare historical data.

I think what they mean by cryptocurrencies is probably just blockchain technology in general. What they really want to use is simply the properties of blockchain to make their transactions for efficient, and potentially, that could mean launching their own coin/token.

Even though it seems like that they are planning on using decentralized cryptos like bitcoin, it really isn't the case.

I don't see how blockchain technology alone would help banks or customers of these banks survive an economic crisis, though. IMO, holding a proven store of value through whatever financial crisis instead of fiat/shares/property is key, and that includes bitcoin. It does not include centralized cryptos that are essentially fiat on blockchain.

Exactly. What is actually keeping this exchange alive is because:

a) It lists new coins for trading extremely leniently, it doesn't matter if your project is complete crap, as long as you pay the fees, you can get listed on yobit. This also means that a lot of crap projects are listed on Yobit, meaning that you can't trade it anywhere else.
b) The ignorance of people actually using yobit.

A constant flood of problems, including locked accounts, blocked withdrawals, delayed deposits, out of date withdrawal fees all come down to one single core reason. They are not regulated, they are not registered, and therefore, you can't report them to anyone. Yobit users should really start realizing that.

Gold does seem undervalued right now. And countries are indeed expressing their support it seems like a bull market in precious metals is imminent, except it's only a matter of when it will happen.

Precious metals prices have actually been extremely quiet in most of this decade, and that to me is just another sign that that particular asset class will probably thrive soon.

However, long term, as you said, bitcoin simply seems like a more viable option for individuals to use. Gold will remain to be a dominant force in the economy, being a store of value, but it's not divisible nor convenient, thus it's hard for individuals to use as actual units to trade with. Bitcoin, as you said, is simply a better version of gold imho. And yes, BTC value could get dragged up as well when the metals bull market comes.

I'd probably not respond to anyone that is claiming to be yobit. In this instance he is also asking you for 0.001 BTC in order to restore your account. To my knowledge, yobit simply does not ask for money in return of unlocking one's account. Nobody has successfully done that. Even the person that replied to OP was merely asking for a donation, which is completely optional.

Almost of these people asking for money when your account is locked are most likely scammers posing as yobit, trying to get you to send over your savings. Unless you can verify that it's actually yobit, and it is compulsory (not a tip), then send it.

Apparently you self-locked your account, whether you actually did it or not. If you received the same message as OP, then simply respond with the requested details. Although there are no guarantees when this will be sorted out.

I personally would not trust them with a single satoshi of my money.

If they are really what they claim, a group of extremely experienced traders, then wouldn't there be a huge media release by them to announce their opening to attract investment? Or, wouldn't there be a massive marketing campaign as well?

There are absolutely no signs on the site about who they are in real life, meaning that if they do scam you, which they will, you have nobody to refer to. It's a purely virtually operated entity.

It's not the first time that "a group of experienced traders" have opened sites, promising extravagant returns. All of these sites are scams. Eaglebittrade is just another site with the same motive, with the same conning method, just under a different name.

People who are still holding their coins at this stage is unlikely to sell any time soon. In fact, there are a lot of long term holders of bitcoin holding massive amounts in secured vaults right now which they most likely don't plan on accessing any time soon (search up Xapo's vaults).

If they're not selling now, it's unlikely that they would panic sell at a lower price level either.

Moreover, the buying pressure at anything below $5k right now in my opinion would be extremely strong, and if prices did go to that low, there will be a ton of buyers who will push price up and lead to swift adjustment upwards.

It's really not a concern at all, imho. Two things are clear, bitcoin will not go back to $400 given the demand, and most actual bitcoin millionaires are holding for the long term.

The only reason why he's locking the thread and self moderating it is to ensure that nobody can ever comment negatively on it, or expose his scam. Same thing with a telegram group, he can easily kick out any people that gets scammed.

The rates that he is offering on the gift cards he's selling is too good to be true, either that he's just scam you, or provide you with a code that is fraudulently obtained. Both of these scenarios isn't something that you would want.

It's not a particularly new scam, and if you read the stickies as well as his trust feedback you could have easily avoided this.

Exactly.

It simply makes no sense to be bullish on bitcoin without any consideration of the actual price of bitcoin or its trends. This guy is literally only known because of his predictions on bitcoin price, which is really without any sort of basis.

All of his predictions are bullish, it's just a question of how bullish. His predictions actually become "predictable" after a while. These predictions come out all the time, Tom Lee just happens to be one of the more well known guys and that's why his articles are getting media coverage.

I'm not saying that $25k isn't possible by the end of the year. It's possible, but unlikely.

Or, if you zoom into a 6m or so view, you could match our current trend with the bearish pennant or bearish rectangle. These TA trends can virtually be manipulated to fit whatever narrative you want to tell, based on the scale of which you are presenting the graphs.

I still think that bitcoin is bearish right now. It'll probably go down further and esta lish a bottom near the $5k mark before the recovery takes place.

I'm not saying that a pump at this current stage is impossible, but even if it happens it would probably only be a temporary bounce in prices which will be followed by more dips, until we actually establish a bottom which I don't think we have done yet.