These predictions might seem crazy right now but really they aren't that hard to achieve.

Bitcoin as we all know basically tripled in price in the short time period of less than 3 months, and if we can pick up another bull run then who knows where we can end up. But i would say that it is unlikely considering that the current bull run has slowed down quite noticeably and i don't know whether or not we're going to break the $3,000 barrier, and this doubt is shared by a lot of holders which will affect the price negatively.

The thing is, if it goes to $5,000 i wouldn't be surprised if the same news source ended up saying that bitcoin is a bubble... It's all about the number of viewers an article attracts... Sigh

I don't know. If you trust yobit and its promises then this is for you. But there is a high likelihood of this eventually going scam.

I've seen some ridiculous offers available for coins that have no buy orders, little liquidity etc. but even the bitcoin/ETH/LTC have very good returns, almost HYIP-like. You can generate enough to cover 2 years of bank interest in 1 month.


Agreed. It just doesn't make sense to me, how the whole thing works. If yobit can clear up some misconceptions here then they will definitely attract more investers and clear up their name alongside with it.

You are obviously dealing with a pretty crappy exchange then. Because if you have a good exchange then you should be able to just submit your documents once and you'd have pretty much no limit as to how much you are allowed to exchange and withdraw.

Don't blame this on bitcoin, because this isn't bitcoin's fault. This is the government's fault for having such strict KYC and AML laws, and these laws aren't even universal. They are only targeted at bitcoin which makes me think they're very scared that bitcoin is going to take over the financial system and they want to restrict the amount of people having access to bitcoin.

Once you get your funds into bitcoin i guarantee you 100% that the experience will be smooth. And the reason is exactly because there is no government, every transaction is irreversible, therefore you can transact with ease. And the good thing is anyone can use it, even in North Korea. So in the middle east you'll definitely be able to use it. The hard part is how to get yourc fiat into bitcoin, thats the main issue.

Yes. The RSK network is a layer above the bitcoin network, just like XCP and Omni. Pretty sure that the mainnet was launched like just lastmonth, if i'm not mistaken? So this is pretty exciting for anyone wanting to execute smart contracts on the bitcoin network and don't want to deal with Ethereum.

Is Eth the best way? I don't know, honestly. Personally i don't see any value in smart contracts because they don't prevent theft from investments at all, and all that is needed is bitcoin at the moment, a functional decentralized cryptocurrency. Why do you need smart contracts when the basis of cryptocurrencies isn't even mass adopted yet? And it's their only selling point for their ICO, which is for-profit, obviously.

If you were to execute smart contracts though, i'd recommend using some sort of bitcoin smart contract like RSK. Don't use eth, it's too inflated and you could lose money.

It's definitely not FUD.

In fact even the top in business knows that a financial crisis is definitel ygoing to come. The 2008 one nearly collapsed the entire world financial system, and i can see a much larger one that is boiling up right now as a result of the endless amount of debt the US owes to exporting, developing countries such as China, india, resulting is a very large current account deficit in the US that will eventually self correct and be absolutely devastating.

Hedge yourself against this by either placing a portion of your wealth in silver/gold or in bitcoin. That is the smart thing to do, at least imo.

If you can provide specifics about each computer, CPU speeds, RAM, HDD/SSD space etc. then i can potentially take some off you if they are cheap. Also list your price for each of the machines that you list.

Images would be appreciated as well if you can, with like a paper slip that has your username written on it to prove ownership.

PS whats the cost of shipping?

It's funny how every single exchange claim that they are the number one most secure bitcoin exchange but really every single time there is a hack happening that the users have to take money out of their own pockets to compensate for.

This is a major loss indeed and it would be interesting what the hacker does to this money. I think it is unlikely that he will sell off the bitcoins at all because that means potentially having the coins confiscated by law enforcement, so i don't think that we need to panick this much about the prospect of the hacker dumping the coins, driving the price of bitcoin down.

Exchanges should make a clear in an event of a hack, who will be responsible and how will users be compensated. A lot of exchanges don't even have that in their terms and conditions leaving them to do whatever they want.

First of all, we have struggled with the $3000 barrier. In this chart it actually shows as $3003 being the top but if you look at coinmarketcap which is a weighted average of all exchanges you will see that bitcoin never actually hit $3000.

After that, you can see clear cycles of boom and bust. The floor is pretty much set at $2000 and the roof is $2800-$2900. I have a strong gut feeling that the price of each bitcoin will again test the $3000 level, and probably break it after the UASF when SW is implemented. Then, just like $2000 is the definitive floor for bitcoin right now, $3000 will become the new floor, and won't be broken unless a hard fork happens.

I'm interested in knowing this as well. Sardasa said that he had a lot of alternatives to choose from, from my experience though coinbase is probably still the easiest to use, although it might not be the most competitive in pricing. If you are only storing bitcoin then use blockchain.info, but if you have some USD as well then probably circle.


Lol! I guess they alerady deleted your account so even the support people couldn't access it.

There has been a lot of occurances of coinbase blocking accounts, obviously. But i haven't heard of any cases of coinbase confiscating the bitcoins, every time they allow you to withdraw it. Unless there is a court order ruled against your favour.

No. You should not accept paypal for bitcoins at all. Paypal is reversible, bitcoin is not. This is obviously bad as if someone reverses a payment from your paypal you can't do the same to your bitcoins. I think it is definitely because you received way too many gift payments than it is natural for someone to receive, and paypal has limited your account. I suggest that you answer truthfully, or say that it's for in game items.

I find it surprising that though this unheard of site is able to offer such great rates on vanilla gift cards. If this is actually real then one could easily go onto their site, convert their vanilla gift card to bitcoin, and use the bitcoin to buy vanilla gift cards on paxful for like 10% less than market price and rinse and repeat for more profit than you are making - so here is a business idea for you, without having to use your wife's paypal or anything like that and have a risk of getting it limited as well.

I don't think anyone has actually listed the source of the article so here it is: https://www.forbes.com/sites/thomasbrewster/2017/07/03/russia-suspect-in-ransomware-attacks-says-ukraine/#4254377b6b89

My opinion on this? Bitcoin is always going to used for illegal purposes, because it is anonymous and it is fungible. Irreversibility and fungibility are two of the most important traits of bitcoin, in my opinion what makes bitcoin so great. But obviously it has its downside, and a major one is usage as funding for ransomware software, such as the one here as well as the Wannacry ransomware.

This can definitely be easily mitigated by having up to date patches, active antivirus, and a generally clean environment.

Excellent chronology!

Is it just me, or are the majority of financial crisis after 1500? I mean it could be just that it is more recent and people actually documented it instead of the earlier years, but it seems clear to me that as yuuto pointed out, central banking has a lot to do with the surge in financial crises.


What I see is that centrarl banking fuels much larger, much more widespreads financial crises such as the great depression. Before central banking there were obviously financial crises as well, except they are much smaller in scale.

I guess it's the fact that a lot of payment processors has outrageous spreads. For example, paypal. If you want to buyp bitcoin with paypal then you should obviously be expecting to pay like 5-10% over spot price for these bitcoins. If you want to sell your bitcoin for a trusted person's paypal though, you'll probably only be getting like 5% less paypal than spot price USD.

And also, strict KYC rules on certain exchanges. They want you to even provide proof of where the funds came from which is quite outrageous at least to me. If you want to go anonymous, again expect to pay a premium.

Wow, your friends must have been one of the first people to invest in bitcoin becaues 500 is currently like 40 blocks worth of bitcoin.

To answer his question though, if he wants to get the best rates, then go through a big exchange. I suggest either Bitstamp or Kraken depending on where your friend lives, but it will mean that you have to supply all your docs to the exchange.  If you want a private trade you could go through localbitcoins, there are a lot of traders dealing with thousands of bitcoin on a weekly basis on there. However you should expect the tax department to be on you for capital gains taxes, so depending on where you live you should probably fill out the forms though it is improbable that they can track you down especially if you are doing p2p trades.

True. It is definitely not perfectly trustless as someone had to have access to the private keys beforehand. But you can mitigate any risk by just sweeping the private keys as soon as you get them instead of holding onto the private keys。

To answer your friend's query - by using every other mixer you'd have to trust the mixer to deliver the coins to you, and chipmixer is no different. If there is any issue though you can always contact chipmixer support which is in my opinion a lot more responsive than a lot of other bitcoin mixer support teams.

It is available.

And it's not just limited to airline tickets either, you can even book your entire trip, hotels, everything included for bitcoin. For example, btctrip i think actually has bitcoin as its preferred payment method and you can book entire trips with it. Cheapair.com also accepts bitcoin, and so does expedia which is one of the biggest travel angencies that are out there operating worldwide.

If these services aren't available, you can always do a p2p transaction if someone wants to convert their fiat into bitcoin this way. So they book for you, and you just pay them bitcoin in return. Simple.

Well, if the tuition that is offered at that school is really good, like above and beyond every other school then i really see no reason why they don't want to accept credit card payments because there is going to be a predominantly rich parents funding the student's school fees.

The biggest concern though is that although they said that they like bitcoin and have invested in it, they are essentially taking no risk by accepting bitcoin. Because they're simply going through a payment processor such as Bitpay and this simply doesn't have any difference at all when compared to accepting credit cards, because in the end you're still guaranteed a USD sum.

To achieve stability, btc needs to have merchants accepting bitcoin value instead of accepting bitcoin for its usd value.

I have a question for all experienced bitcoin traders out there.

If you want to sell your bitcoin for paypal, can you ask someone to send as friends and family and the chargeback, and close the dispute so that they can neither open a dispute for item not as described nor as unauthorised transaction?

It makes sense becasue you're not allowed to dispute further after you open a dispute of that category, correct?

Thanks all for the help.

Decentralized currencies have this innate volatility, it's just how it works.

If you want to make bitcoin completely stable then you'd obviously have to have some sort of centralized entity that controls the monetary supply, dumps coins when the price is high and buys when the price is low. Basically what central banks do these days trying to retain the competitive edge on exporting goods, especially in india and china which is high volume exporting countries.

This defeats the whole purpose of bitcoin though. And imo, bitcoin volatility is quite attractive as it brings up investment opportunities, and it means that bitcoin isn't dependent on the fiat monetary system.

A lot of people say that you need an internet connection to use bitcoin, and a lot of people don't have internet access.

But the truth is that internet is something basically everyone can afford and get. Even homeless people have access to internet. Plus, you don't even need internet access. There are services out there that are able to convert your text messages into commands for sending, receiving and transacting your bitcoins on their platform. And this isn't even a new idea, coinapult and 37coins(although it closed down i think) did this back in 2013.

So yeah, the restrictions of bitcoin is much lower than fiat, and it would be illogical to say that it is only for middle and upper class only. In fact one of the main visions that bitcoin believers have is bitcoin solving the unbanked population's woes.