I would expect to see this from ICOs because it was understood that they were paying themselves from ICO funds. But regular POW coins? There was no ICO for Ethereum Classic. Who was funding ETCDEV and why did they have the expectation of salaries? Open source development sure ain't what it used to be. |
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Can you deny it? Everyone who has brought in the last year has lost money.
When the price is trading below $100 and we're headed to zero, I might be inclined to agree. It's way too early to make that assumption. You're comparing tulips, a mere plant, to bitcoin, a new asset class using a new kind of technology that could potentially disrupt banks, international settlements, and or fiat money in general(depending on your views/opinions). Think about it clearly, on what you're comparing here.
If Bitcoin goes to zero, he's right. The tulip analogy regards market speculation, not underlying utility. The technology itself has no relevance to this question -- it's completely up to the market. There's no guarantee that Bitcoin will become adopted by the masses, nor that usage and demand won't drop to nil. If the latter happens, it will have been a bubble asset alongside tulips. |
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In spite of the recent crash, some metrics from this year are looking pretty good. Amidst all the negativity about price, I was pleasantly surprised to discover this study which found that people are still rapidly joining the cryptocurrency space: Ranks of Crypto Users Swelled in 2018 Even as Bitcoin Tumbled
It turns out that cryptocurrency enthusiasts were committed well beyond the HODL rallying call that urged them to hold on during this year’s digital-asset market collapse.
The number of verified users of cryptocurrencies almost doubled in the first three quarters of the year even as the market bellwether Bitcoin tumbled almost 80 percent, according to a study from the Cambridge Centre for Alternative Finance. Users climbed from 18 million to 35 million this year.
Users of Crypto Double Amidst Market Downturn
The figures may provide a silver lining. If user numbers continue to increase even in a deep market downturn, that could signal that an eventual recovery could be coming -- a crucial finding at a time when some critics predict that the value of cryptocurrencies will go down to zero.
Most users are likely still speculators and long-term investors. Due to the market volatility, cryptocurrencies are barely used in commerce.
"Conforming with popular narratives, survey data indicates that the majority of users – both established as well as new entrants – are individuals and not business clients," authors of the study said. "Individuals can be hobbyists, retail investors, consumers, or users seeking a better investment or payment alternative."
The number of crypto accounts increased as well, the study found. A single user can hold multiple accounts.
"Growth rates were at their highest in 2017, and the number of new user accounts as well as ID-verified users continued to rapidly grow in 2018 as well," the study said.
Source: https://www.bloomberg.com/news/articles/2018-12-12/ranks-of-crypto-users-swelled-in-2018-even-as-bitcoin-tumbled |
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I do think that yes. There’s a lot of malware at the moment and a lot of signatures relating to cryptocurrency viruses that I’m noticing (rhese seem to be the ones that antivirus companies already know about though so they could have existed ever since we fell and started going sideways).
People are trying to get whatever they can and that’s always been the case, I’d like to see the average malware developer, I can’t really picture them...
There’s also the thing of, if a lot of bitcoin are stolen and sold on the open market, the price is obviously going to crash as it’ll wipe out a lot of listings people are making.
True, that's an interesting point. I just figure these types of scams -- malware, phishing, things like that -- are pretty small-time. How many coins end up being sold on the market that way? It's probably a drop in the bucket compared to selling from miners, payment processors and others. |
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It’s come to my attention that there are being a lot of hacks and scams going on at the moment.
This is a warning to people to keep wallets fully protected, exchange accounts should have 2fa added and wallets should at least have a password on them.
However, if these new hackers are successful in art king vulnerabilities in web browsers and adding, it could really make the price start to drop quite dramatically.
(We always get hacks and scams increasing when the price dips - usually because it hits the news or people can get bored of their funds not doing so well I guess)... Anyway, stay vigilant and don’t click anything you don’t trust.
I've never noticed any major correlation between the price and publicity around small hacks or scams. Only major heists like the Bitfinex hack in 2016. You think it's creating FUD around Bitcoin's security and is affecting price? The only thing I've heard about recently was the Copay vulnerability. I'm not sure if anyone lost money from that. |
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So, what's going on here? No proof of anything, I assume? Something gives me the distinct feeling that jabowery and doublespend timestamp are the same person, engaging in a dialogue to affect perception. I do feel as if, for true curious investigators, I have made a more than reasonable circumstantial case. Except I personally know it is all 100% true.
Can you sum it up for us? I seem to have missed the convincing part.  |
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International rating agency Weiss Ratings has recommended now as the best time to buy Bitcoin, saying it represents cryptocurrency’s “least speculative investment.”
As part of a series of tweets December 11, Weiss, which has produced mixed messages about its opinion of Bitcoin in the past, now said it is “here to stay.”
“(Bitcoin) is getting to such low levels that it’s becoming one of the best buying opportunities of the year,” one tweet reads.
Well, it's obviously the best buying opportunity of the year -- price is the lowest it's been in 2018 and it's December! Thanks Weiss, but that was sort of a no-brainer. Have they made any notable forecasts on cryptocurrency before? |
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The best way is actually a brain wallet, people can find your cold storage, people can't unlock your brain and hack it.
I'd advise against this idea. While some people might do it the right way -- picking a well-randomized, high entropy combination of words -- most people will choose a memorable phrase that is predictable by hackers. For a newbie, a hardware wallet like Trezor or Ledger is probably the best route for the sake of usability. Otherwise, this is a good how-to for using MEW offline and creating an encrypted wallet for storage. |
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Large Investors in Btc in USA last year now have to pay 40% tax and are selling off btc to cover the Bill
Taxes for 2017 were due by April -- 8 months ago. In many cases, estimated tax payments were due earlier than that. What you're saying may have applied to the first few months of this year, but not now. This year was a lot less profitable than 2017, so there's probably a lot less sell pressure from people covering tax liabilities now. Also, 40% used to be the maximum tax rate on capital gains. For 2018, short-term capital gains are taxed at the normal income tax rate (0-37%). Long-term capital gains are taxed at 0-20%. |
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I still have mix emotions about the whole Bitcoin ETF scenario. Yes, it might be the catalyst to push the market or at least improved the situation short term, but how about long term though? Will it be sustainable? Or the custodian will have so much power to control the price? Correct me if I'm wrong, custodian can wield so much power than they can decide anything without consulting its users so for me it will established centralization which can really change the outlook of bitcoin specially for purist.
The custodian would have the authority to buy and sell BTC on the market in order to issue or redeem ETF shares. They're just ensuring that the shares remain fully backed and responding to broker demand for ETF shares. They don't have any "power to control the price" because they're just issuing and redeeming shares based on demand from brokers, who are responding to the market. Obviously a Bitcoin purist won't care for ETFs and paper markets. Neither do I. |
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While many traders are eagerly awaiting a potential Bitcoin exchange-traded fund (ETF), some of the most ardent supporters of cryptocurrency are tepid at best for the prospect of such a tool. What's your opinion? Do you want Bitcoin ETF?
I don't want them, no. Paper markets will inevitably screw people over, whether because of fractional reserve, custodial losses, market manipulation. People like the idea of a physically-backed ETF because they feel it's more like "real BTC" than instruments like cash-settled futures. But since ETF shares are trust-based pieces of paper, they're still antithetical to Bitcoin. I'm also not sold on the idea that institutions need, or are waiting for, an ETF. |
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@hatshepsut93. Is bitcoin really decoupled from the United States economy? I reckon it is not as decoupled as you make it to be. Picture our world suffering in another world financial crisis, what would the common people need, cryptocoins or food and water?
If you think about it, both stocks and Bitcoin have been in a strong bull market for the last 10 years. Just as they rise together, they might fall together in a real financial crisis. Investors don't usually seek haven in risky assets during times like that, so I don't see why it would be a boon for cryptocurrencies like some people think. |
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Let's give this a try: $5,090 |
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That's great info. This mean bitcoinwallet that supports segwit is a better option. My wallet also supports legacy transaction, what's the advantage with it compared to segwit? There are no real advantages to using legacy addresses over Segwit addresses. They are both compatible with one another and they work just the same. The only real difference for end users is that using legacy transactions costs more. |
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The platform, called Cash App on Apple’s iOS store, also overtook YouTube to become the number one top free mobile application on the iOS store, demonstrating a rising demand for digitalized payment systems in the U.S. market.
The easiest way for every single person in America to buy bitcoin is #1 on iOS today @CashApp pic.twitter.com/nYUt6tSkIJ
— Miles Suter (@WahWhoWah) December 8, 2018 I wouldn't get too excited. I know several people who use Square Cash and none of them care about Bitcoin. More than anything, it's a Venmo competitor so it's largely targeting a very different market than bitcoiners. For instance: As a benchmark, Nomura Instinet compared Square Cash monthly downloads with those of popular cryptocurrency exchange Coinbase, which according to Dolev have turned sharply negative in recent months. In June, for example, Coinbase’s monthly download growth fell 39 percent, according to Nomura's research.
In June, Square, which is run by Twitter CEO Jack Dorsey, got the green light from regulators to allow New Yorkers to trade cryptocurrency on the Cash app. But that didn't have a material effect on downloads.
"When they opened up trading in New York, you would expect a bump in downloads, but it didn't happen — if you look at the weekly trend it actually slowed slightly," Dolev said. But I'm sure the awareness factor from having BTC trading in the app can't hurt. |
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Former IMF Chief Economist and current Harvard University Professor of Economics and Public Policy Kenneth Rogoff believe that bitcoin and other cryptocurrencies currently amount to little more than “lottery tickets” at this moment in time. Writing in the Guardian on Monday, Rogoff stated that while some believe that cryptocurrencies have had their day and are on an irreversible downward slide, it is actually difficult to say with certainty that their value will actually fall to zero.
In his view, several questions exist about the ability of large economies to successfully embrace cryptocurrency, which means that outside of joint regulatory action, national level adoption of cryptocurrencies will likely be pushed only by weak pariah states like Iran, Somalia, Venezuela, and North Korea. This he says, makes it difficult to predict the eventual fate of this asset class.
At least he's more reasonable than Roubini or Professor Bitcorn. To be fair, nobody knows for sure that mass adoption will occur. In that sense, holding Bitcoin is still a speculative gamble, like he suggests. I still cater to this perspective from Satoshi: I'm sure that in 20 years there will either be very large transaction volume or no volume.
Imagine five years ago seeing famous economists predict the adoption of cryptocurrencies by nation-states. You'd have been laughed out of the room. |
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it is not "nature of bitcoin" to be volatile! it is instead the way that world is treating bitcoin which is making it volatile. I think there are some aspects to Bitcoin's design and its economic distribution that make it prone to volatility. For example, its scarce supply, where much of the total supply is owned by a relatively small number of actors. It also had to bootstrap its network from scratch as an experimental and nascent platform, so it's a highly speculative asset. Both these aspects make for very illiquid order books in both directions, which therefore results in volatility. |
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Stop buying altcoins would be a better way, not just bch, all altcoins are actually dilutions of bitcoin.
If we can't stop buying altcoins, then the same can't stop people from buying bch.
In this market, more people are pursuing short-term money, not real value.
It's a very speculative market -- especially altcoins -- but Bitcoin as well. There's no denying that "get rich quick" types exist among bitcoiners too. After years of watching the interchange of Bitcoin and altcoins since I arrived in 2013, it doesn't seem like people will ever stop investing in altcoins. There's something about boring markets and bull markets that makes bitcoiners want their coins to work for them. They're always looking for ways to speculate or gamble and increase their stack. In some sense, at least perceptually, altcoins dilute Bitcoin. However, I think their relationship is more mutually beneficial than that. I don't see altcoins as parasitical at all since the altcoin markets actually tie up quite a big chunk of the circulating bitcoin supply. I think this has been helping to drive Bitcoin's long term price rise for a long time. |
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i'm already in loss of 2k dollar in trading...how to take safety measures from loss
The obvious answer is a stop-loss, which limits the amount you can lose on each trade. You might want to step back and study a bit more before rushing into trading. Here's an introductory tutorial on beginner trading and technical analysis strategies. It's important to have a trading plan (including stop-loss) for every trade you enter. |
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