I mean how? Given it is completely decentralised.
The government obviously cannot be able to control bitcoin itself, but they're going to control the bitcoin exchanges. Seeing that bitcoin is still in its early stages and there are a lot of centralized exchanges around generating massive volume on a daily basis, to control the regulations surrounding bitcoin exchanges is basically controlling half of what bitcoin is. However, it is impossible to ban bitcoin altogether, if governments are looknig to do that because the system is decentralized, and they can't just shut down one single server to get rid of bitcoin. Even if they shut down all the exchanges, the trading will just go p2p instead of on centralized platforms. |
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It's not so straightforward to buy bitcoin in the Middle East. Yes, I have tried everything. If bitcoin was about the free world, why all the exchanges ask for very strict verification that even the stock exchanges don't ask for? I have never had to take a selfie with my passport in my entire 40 yrs of life until I came in to the bitcoin world, what the heck?!! All the exchanges take ages to verify and when they do, they discriminate those from the middle east. Most of them don't allow us to use fiat currency to buy bitcoin, so how the hell new comers will buy it? The barriers of entry to the bitcoin world are too many for people in middle east, am sick of it.
I find the conventional banks much easier to deal with than the bitcoin exchanges. Guess what? I was successfully registered in one after waiting for a month, only to be told I can't spend more than 300 Dollars a week in buying bitcoin, seriously??? I freaking have thousands of dollars to invest and they want me to spend 300 dollars a week for a coin worth $2500???
Now, the easy way is to buy from others, but I am gonna have to pay a premium of 10 to 20 pct above fair market value to buy and that's BS!
I am thinking to start my own ICO for an exchange that has commercial sense an open to the world. We need a revolution here.
I think that it is just the exchange that you are using is pretty crappy. If you want 100% anonymity then go ahead and use localbitcoins, p2p trading is going to be the future. How is it BS? It just shows how useful bitcoin is because unlik efiat currencies, it is interchangeable. Each unit is just as the same as the other, you don't need to worry about chargebacks or anything like that. Conventional banks being easier to deal with? Oh please. First of all they only open like 8 hours a day and you have to wait 1 hour just to get to talk to someone. Secondly, as you're experiencing now, it is hard to convert fiat into "real" money, aka bitcoin, gold etc., isn't it? |
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Yeah I'm an idiot and had already bitcoin when the price is only at $350 so I did hold it out because of people telling here that it will become higher soon. And I listened to those people because I'm an idiot and now the price of bitcoin is $2,400 something and it's even getting higher. Hooray for myself, an idiot There is one caveat, though That is, you should never forget that until you book your profits they will remain only paper profits (read they could evaporate a lot faster than it took you to accumulate them). As the Russian proverb goes, chickens are counted by the fall. If we rephrase it, it could be said that profits (Bitcoin profits, obviously) are counted by August. So don't be an idiot and cash out at least some coins until it is too late. You can always buy back later when the dust settles and the sun shines bright again. Right now it looks more like a rainy weather with likely a severe storm dead ahead Somewhat agreed. When you cash your bitcoins out though, you're presented with pieces of paper that if not because of the government would be otherwise consideed quite worthless. So it's quite subject what is real value, and what is not. Some may consider bitcoin as a long term investment and they wouldn't care less about the short term movements in price. But you're right, if you can cash out at the highs and buy at the lows, that would be ideal. time is the greatest deciding force in investments. If you have a good investment then time is going to make the investment grow even more, and imo bitcoin is a great long term oriented investment. There is no need for messing about with short term markets. |
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Oh definitely. Let's not forget the added legal clarity. I don't think we'll see much of a difference short term, but long term this definitely makes for a much more attractive investment.
Yeah, i think that 8% tax was probably never paid that much anyways just like bitcoin tax return forms in the USA  I'd actually argue the opposite of what you just said though - this law is going to have the most effect short term because of the hype generated from it and probably less affect as time passes and people realise governments can't really tax p2p trades in the first place. Just ask people in china, when exchanges were tight with AML laws they just switched to P2P altogether. But this doesn't mean that i disagree with this law. In fact i love it, and i think it's regulated businesses that are going to benefit the most. |
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Hello, You clearly realised that , we are experiencing a dump. I think it will continue , I would like you though on the lowest bitcoin price in order to buy it. Share you thougts  I wouldn't call it a big dump. But it is quite a bearish market right now. I would say this - if the price ever gets below $2100 then it's a good time to fill your bags. If price goes above $2800 then it is probably the safest to sell, and wait for the dip again. Seems like these days bitcoin is always going in a cycle of going from $2200ish to $2800 and then back again. Buy BTC whenever you have some money left. Simple is that! Price will always go up and down in smaller or bigger swings.Never forget Bitcoin is a rollercoaster in this early years. However over the longterm imo the direction is upwards!
Furthermore I wouldn't call that a dump right now. More some kind of pit stop and cool down, before upwards action is happening again.
Long term is always up, yes. But short term there are obvious trends to take advantage of, like the one i listed above. |
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Much have been said about poloniex problem but i have never believed because it was not my turn yet.
There is a popular saying that "power is nothing without control" poloniex as a matter of fact should do something about their support system.
I have sent some coin since 2 days now and it has already has 500 confirmations on the ether network but there is no funds in my account.
I have created a ticket since yesterday and it is still been processed, this is a bad way to run business.
Sorry about you having to get scammed, but there were plenty of warnings that could have definitely stopped you from making this mistake. Why were you using poloniex in the first place? It's not like you didn't know about the situation over there, should have used other trustworthy exchanges instead. What coin did you send and how much was it? Aren't ethereum network blocks pretty fast, so how did you only get 500 confs in 2 days? Unfortunately your only hope is to keep trying to get the support to respond, unlikely as it sounds and practically is. Or, you could wait it out and see what happens, though the situation is just going to get worse over time imho. |
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Appreciate that you're letting us all know. Simply put, bitcoin is being accepted in more and more locations. It's no longer just restricted to the central hub of the US, China and so on. It has become a global phenomenon. Businesses are legitimately interested in implementing this, whether it is just purely out of the CEO's interest or whatnot or it offers a good alternative to risky credit card processing, or international payment processing. Although i dont live in poland, i can tell that this is one of the food delivery giants. Probably the equivalent of Foodler/Ubereats in the US. Kudos to them for being open minded about technology, and hopefully others in their country will follow suit and be encouraged to do the same. |
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Some tech-savvy wedding-goers are gifting the digital currency to new couples. Honeyfund, a honeymoon registry that allows guests to give cash rather than gifts, has seen more than a dozen customers donate in bitcoin, said chief executive officer and co-founder Sara Margulis. In recent years, more than a dozen customers have chosen to route donations to the site from bitcoin wallets. Zola, a wedding registry website, has had just two cash funds created for bitcoins since 2013, a spokeswoman said. "I would expect it to pop more as millennials come into the wedding age,” Honeyfund’s Margulis said. “It’s something you will do if your friends and family are already into bitcoin. Bitcoin as an retirement plan, bitcoin to secure the future of your kids, and now bitcoin as a wedding gift. Whether or not bitcoin replaces cash in future, it looks like the trend of gifting bitcoin instead of cash at weddings is definitely going to catch up and more wedding registeries would be adding bitcoin as a gifting option. Avoid using a wedding gift "as an opportunity to proselytize a technology you personally believe in, but the recipient could not care less about." People who are not into bitcoin might not appreciate getting a volatile currency as a gift, and might never use it, thus adding it to the list of lost coins, but I think people who are already using bitcoin or would most probably use it in future then bitcoin instead of cash is the apt wedding gift for them. http://www.marketwatch.com/story/would-you-give-bitcoin-as-a-wedding-gift-2017-06-27I voted yes. With the current influx of great wallet interfaces that make bitcoining so much simpler than it was ever before, i think that it is fair to say that giving people some bitcoins so that they can try out the technology and get to know the future of banking is a great idea. I dont necessarily think that we should avoid giving bitcoin to people that don't know abotu it. In fact that's the main way how others get to know about bitcoin and become interested in it - by word of mouth and gifts. Don't be lame though, be creative with your bitcoin gift ideas on a wedding day... |
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Hello,
Most of you are confident with the long term for Bitcoin. Yet some altcoins has the same features so why are you so confident about bitcoin and not about litecoin instead?
I compared them and approximatevily the same assets!
The only difference is that bitcoin was the first, is it that important?
Several reasons: - Most altcoins are for-profit projects, designed to benefit the founders and the team around them. Therefore they usually run ICOs before anything is even released to public. All there is is promises of a good coin, and that's it. This contrasts with bitcoin drastically. - Altcoins die off periodically. There are hundreds of dead altcoins that were considered good in the past. - There is only need for decentralized payment processing, really. I really don't see the point of smart contracts etc. - Altcoin are "altcoins". They'll never achieve the status nor the trust of bitcoin. |
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Altcoins are going to be the main ones that are affected here, not bitcoin. If Segwit is implemented then bitcoin price is going to go up and be stable at a certain level. People i think are parking their funds currently in altcoins because they are afraid of the upcoming fork. Once it's gone though, bitcoin's dominance will increase by at least 20% back to an acceptable level, perhaps even 30% if ETH bubble crashes. If chain split occurs tthough hen obviously it's going to be bad for bitcoin's image, and this infightinig is definitely going to negatively impact bitcoin, and this is one of the only scenarios where bitcoin will drop alongside altcoins. What bear market?
The one in the imagination of wishful thinkers dreaming of cheap coins. Cheap altcoins? Likely. Cheap BTC? Prolly not. |
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The main difference between these two is that bitcoin has real usage in the real world, merchants accepting it, countries legalizing it, funds offering it as an investment method, whilst EThereum is purely speculative.
you could say that both are speculative bubbles, but bitcoin is more of a healthy rise in price, rather than Ethereum. Of course, when bitcoin does get overpriced, an adjustment will be necessary to bring the price to its normal levels.
Plus, bitcoin rose like only 2-3x from the start of the year, and ETH went from like $30 to $400+. So the extent of the bubble in Ethereum is much larger, and the fact that it nearly exceeded bitcoin is just disgusting.
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there are many reports which states that the coins sized my GOVT agencies will be auctioned soon...
if we do some calculation i think there are aprox 1000 BTC (maybe more) which are freeze by agencies from various counties
if i remember correctly Silkroad admin alone had 300+ BTC..
now if those reports are correct
and if those BTC again come to circulation
does it mean we can expect a huge decrease in BTC rate in future ?
Unlikely that this will happen. This is the address in question:https://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX. The auctioning off of coins happened long ago, it's not even news right now. I thought maybe i missed something because I wasn't that active recently, so not able to keep up with the recent news but revealed no major auctioning happening in the near future. Plus, a few thousand coins wouldn't hurt at all. Trading volume is hundreds of millions of dollars per 24h. No. If there is a dump now it's because of a pre SegWit uncertainty. Many people are also dumping to add to the wave and cause more panic, so that they can buy more and be ready for a pump in a month or two.
Auctions used to be a big thing, but history has shown that people who buy at auctions don't dump. There was never a huge sell off after the auction, always before it and i'm sure there won't be one now. These people are not trying to buy at auction to earn a few $ per coin, they are hoping for a pump and millions in profit. You always sell when it's rising, when the liquidity is high and the buyers can take it without noticing.
Agreed, market uncertainty before a fork is always the major issue that contributes to a price nosedive. |
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Hello!
Over the past days BTC has fallen quite a bit, also ETH. Any clue why? Seems to be opportunity to buy more.
Well, bitcoin was overpriced. I think that the natural range for bitcoin currently from the demand and supply is probably $2200-2500. When overpriced, there will always be a correction. Ntohing surprising. Same with ETH but in ETH's case it was a huge ass bubble instead of just overpriced in bitcoin's case. Gold is down.  Silver is down, too. I would guess those holding gold/silver/bitcoin sold off to produce more liquidity for themselves or its a form of price manipulation. If the two italian banks in bankruptcy held gold/silver/btc and sold off their holdings to payoff their debts, that might make sense. Interesting observations. I have been following gold/silver charts as well and was surprised 2 days ago on how gold and silver went down so dramatically. Maybe you're right ,there is a direct link between gold/silver price and bitcoin because they're all considered commodities and store of values. But it is probably more likely that people just wanted to get rid of their coins becaus ethey felt price was overvalued. |
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It would be nice of coures to have low transaction fees as well, but it is not necessarily a must have to have close to zero transaction fees to have bitcoin as a good store of value. Many rich people are probably storing part of their wealth in bitcoin because they know if they keep it in fiat, ultimately the government can take it away from them if they really wanted to. Not BTC though. In fact, transaction fees aren't that bad. They are still way cheaper than international bank transfers/silver/gold. Store of value means long term, and long term you wouldn't transfer that much bitcoin out of your address anyways. Bitcoin would be used more as a store value in future.High increase in transaction fee has made it uneconomical to use bitcoin for smaller transactions.If we try to pay smaller fee,then it would take more days for transaction to be confirmed since no merchant would accept to wait that much time.
Nonsensical. Of course, everyone knows the negative things that come with transaction fees being too high. The discussion here is whether or not bitcoin can serve as a good store of value without being good for micropayments. |
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OP is definitely telling the truth. From reference link I copied BTC address; checking on blockchain https://blockchain.info/address/3JM51zK1QM9sqHkD1jysBmdAamoDPXJNLrNo transactions! This is theft. Return address is irrelevant because reference link says, successfully exchanged! Let's not use Shapeshift until resolved, their system must have a problem! OP - they have good reputation, don't be too worried thanks a lot bro for your reply it's just it's now 5-6 days! no reply on tickets/email/facebook nothing! i needed this money so hard at that time.  i hop their system have problem too but why they ignore me? Shapeshift is definitely a legit company and they have dealt with way more than 44 litecoins in the past. In fact their average daily volume is counted in hundreds and thousands of bitcoins, not a few bitcoins. It could be an error with their bitcoin wallet, i'm not sure how they would send you a false blockchain tx id though, maybe it's a bug or something that they don't know about. What I suggest you do: 1. Wait patiently for your request to be handled. Trust me, they will handle it eventually. 2. PM their forum account: https://bitcointalk.org/index.php?action=profile;u=3148253. Comment on their announcement thread. There is just so many bitcoin public personalities out there involved with shapeshift.io, they wouldn't risk their reputation for a measly 44 LTC. Chill out. Bestchange is simply a platform for you to find the best exchanger available, and shapeshift i'd say is one of the most trusted. They've done nothing wrong. |
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I just checked out the website, and it's pretty simple and minimalistic. Great improvement compared to the previous version that I've seen. Also, I mixed coins for the second time ever today. The first was with BM, and now with ChipMixer. I thought it would be confusing, but it turned out to be quite easy to understand the "chips" once I started the process. Mixing noobs, rejoice; the userflow of ChipMixer is quite easy to follow. EDIT: Oh, and by default, no fees? I think this may very well be the best part about ChipMixer! Yeah, the beauty of Chipmixer is that there are easy to understand instructions that anyone can follow. Even if you do not know a thing about bitcoin, i think that you can still figure out how to improve your privacy and anonymity when transacting online with Chipmixer fairly quickly. And like you i especially enjoy the fact that they are able to provide their service with no extra charge, meaning that they are really dedicated to really improving user experience with bitcoin instead of just making a quick buck out of it. Still though, you can definnitely donate to them and i think with the new "commonize" feature it makes it a lot easier to donate. |
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Thanks admin for the updates. The site now looks way more slick instead of just another average bitcoin mixer on the outside.
ChipMixer has definitely provided new ways for us to protect our privacy. It shouldn't be something that only the paranoid uses, everyone is able to use a bitcoin mixer and should use a bitcoin mixer especially for large transactions because privacy of normal bitcoin transactions is just not enough - you can still be identified as a number, and there are ways that companies can track you down.
With provably fair bets, i think that this offers an alternatvie to all the dice sites around as well. You are able to withdraw your winnings without having to get your coinbase account freezed, for instance as they are known to freeze accounts associated with gambling.
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Yes, Bitcoin was meant to be an investment from the start, like gold but digital and with limited supply. Given the fees Bitcoin will never be used for micr-transactions. An alternative way may be to use an altcoin with low fees and fast transaction time, but that would be a long way to go for many to start adopting it. Bitcoin did not start as an investment. In fact, it is a digital crypto currency. It is no point arguing what it started as though, because right now it is used pretty much to store wealth. And I have nothing against this - bitcoin is an excellent store of wealth and I like to use the term "digital gold" myself a lot because i think it is exactly what bitcoin is. However, it would be nice if transaction fees could be lowered through any sort of scaling measure(segwit), even halving it would be great because it does cost a lot to send right now. It's a bit of an added bonus if we could have all the characteristics of gold and the convenience, security and small fees of cash combined into a single thing called bitcoin. Although bitcoin isn't proven yet to be a store of value, as time goes on i think the price will prove itself. |
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Trying to get a grasp of history and making some predictions. Improvements are welcome! I always thought that price might stabilize over time but I'm not so sure any more.. Though I don't see any reasons yet for Bitcoin to stagnate.
2008: Concept phase
2009: Launch
2010: Bug fixing
2011: Experimenting
2012: Acknowledged by the world, promotion
2013: Acceptance by small companies, turbulence, politics, super hype, venture investment boom
2014: Crash, hacking, acceptance by large companies, venture investment boom v.2.0
2015: Price recovery, merchant acceptance boom, acceptance by some governments
2016: World wide acceptance, network expanding, ATM boom, scaling war & Bitcoin politics
2017: Cryptocurrencies boom full spectrum, scaling compromise and solution, forking turbulence
2018: Serious cryptocurrencies development and altcoins finding their purpose, large network scaling, big fresh investors, price boom v.2.0
2019: Serious push for mainstream adoption in some countries, mixture of cryptocurrencies and interoperability
2020: Some Bitcoin and banking (FIAT) systems cooperation (banking long-term survival plan), serious world wide regulation and legalization attempt, Bitcoin banks (for legally lending Bitcoins for interest)
I think that this is quite a good prediciton, all the way up to 2019. 2020 is something that i don't think will happen, and shouldn't happen anyways. First of all, bitcoin cannot just cooperate with banks. There is no single person that is going to negotiate with the banking system. Second of all, why would the banking system want to use bitcoin, when it is direct competition, and why would bitcoin succumb to the banking system when everything that bitcoin is for is basically against central banking? Does not make sense to me. 2018 - First official BankCoin are launched
2019 - Governments start to regulate Open/Public Blockchains and favor PRIVATE centralized BankCoins.
2020 - Open/Public Blockchains are banned in most countries.
2021 - Open/Public Blockchains goes underground and flourish on black markets.
2022 - Ban on Open/Public Blockchains are lifted, because governments are losing tax income and votes.
2023 - Bitcoin becomes the global reserve currency.
This is how I see it playing out in the near future, because governments think they can do what they want and will only realize what they have done, once they start losing votes.
Extremely likely that this will happen. China, russia are all trying to get their cryptocurrency up and running, even though they are centralized. I really don't think that it'ts going to be extremely popular, it's probbaly just going to promote bitcoin even more whilst generating little volume for itself tbh. |
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Hello All,
I'm new to crypto but not new to the banking/gov game.
What are you thoughts on the bankers/gov potentially controlling Bitcoin behind the scenes putting on a show oh how they are concerned about it?
They can print the fiat to buy bitcoins.
Its the electronic money/world currency they are so thirsty for.
The NSA has supposedly a back door to all our devices.
I think if bitcoin is the new banker currency it will explode higher as 7.5 billion people vs 21 million bitcoins means $$$$ to the early holders.
If Bitcoin is the alternative to the bankers/gov then it will explode higher as well due to the high percentage of people who want to be free from them.
Anyone who has attempted to not use the dollar Ghadaffi (gold Dinar) - Saddam (oil for Euros) have met a swift end.
Why are they not stopping (possible jail threats) it when they have shown they will go to extreme measures to stop competition.
Either way I see it going higher i'm just trying to get my head around why it has not been stopped.
Thoughts?
If they do print more money they would just bump up the price of bitcoin even more - now this does seem completely illogical for me if they wanted to shut down the entire bitcoin system, because they are just devaluing their own currency against bitcoin! Not only will this benefit the bitcoin users, it'll also mean that a lot of taxpayers are paynig the government to buy into... Well, an investment that they don't even particularly like... The NSA backdoors is really something that should concern every one of us. The Wannacry virus apparently was because of an NSA backdoor and they have apparently ordered intel to install CPU within the CPU so that they can monitor our data whenever we go. this is truly scary, if it turned out to be true. I believe that it is extremely likely, and this is the reason why people should keep their bitcoin private keys completely offline, don't even print it out, write it down with a pen. It might seem redundant but you never know what will happen. |
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