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Economy / Trading Discussion / Re: How do you get the latest news? :)
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on: December 21, 2017, 09:47:15 AM
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Hello What is your strategy? I feel like I'm always behind and I'm eager to learn. Thank you Social media still plays a huge role on the price variations of crypto coins, so it's very important to try to stay updated. I think twitter channels are probably the best option, since they spread so fast, and you can get the latest news much faster then any other media source. For instance I read Charlie Lee's announcement, on selling his Litecoins on twitter, and only a few hours after that, I started seeing it on the forum, or "crypto newspapers" like cointelegraph. So my advice is for you to follow every known "crypto celebrity" or developer on twitter. Listening to youtube channels, or reading "crypto newspapers" is also nice, since you can get a good resume of what is happening, and then you can dig dipper if you want.
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242
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Alternate cryptocurrencies / Altcoin Discussion / Re: Best Altcoin for Regular Transactions
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on: December 21, 2017, 09:35:46 AM
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When you say regular transactions do you mean to other users, or to buy stuff as well? If you to use to purchase stuff, I'm afraid there the option is not very large, because most merchants don't accept crypto. They were accepting bitcoin, bu since the transaction are high, they have been removing it as an option, but are not replacing that option for any other coin. Just take steam for example, they've removed bitcoin as a payment method, but they didn't replace it for another coin.
If you just want it as a way to transfer money to other users, then there are several options out there, and I think you just need to check if they are listed in several exchanges. Litecoin is a great option, because it's even listed on coinbase, so you have a cheap way to transfer money between almost every exchange out there. I would keep my eyes on dash as well, and if IOTA get's listed on more exchanges, it could be a great option as well, since it has no fees at all.
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243
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Economy / Gambling / Re: Betcoin closing poker for good
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on: December 20, 2017, 10:51:28 AM
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Betcoin poker is closing poker for good after the 25th of december. But what will they do with the 40 btc in the bad beat jackpot players have put in? If they keep that is it scamming ? THoughts what you think they should do ?
I stopped playing poker there for a while, because of all the problems they were having. I still somewhat surprised for this decision, since they were actually the btc poker room with more players (at least they were by the time I stopped playing there). As for the bad beat jackpot I think they should return it to players, or at least create some freeroll tournaments for those who were active and contributed to the jackpot with those coins. If they keep it to themselves, that will turn out as another scam accusation for them.
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244
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Bitcoin / Bitcoin Discussion / Re: Bitcoin Is DEAD Again!!
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on: December 20, 2017, 10:33:08 AM
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Do you think the Lightning Network does have the chance to save Bitcoin even temporarily?
What do you mean temporarily? As soon as Bitcoin gets the Lightning Network up and running, it's death to bcash for good. Right now they are ahead because they know the only chance they got to try to succeed, is to go all in on the short term. They are planning to increase the blocksize again, they have a credit card, they got listed on coinbase, so everything is working fine for them. As soon as Bitcoin gets the LN, and it's scalability problems get solved, it's goodbye bcash, because it will no longer have any advantage over bitcoin, and it's short term strategy will no longer work.
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245
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Economy / Trading Discussion / Re: What's happening to Bitcoin?
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on: December 20, 2017, 10:28:35 AM
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Bitcoin is taking a huge plunge! Are you guys selling to be safe, or still hodl in the hope it will go up again?
I'm afraid I was sleeping during this event, that I now know it is related to bcash being listed on coinbase. No point in selling my bitcoins as the price is quite low, but I'm not sure if I will buy more right now, since it already recover a bit. I guess I will just keep holding and wait for it to start a full recovery, and we all know what a bitcoin full recovery normally means. So my plan is to wait for a while, and see if it gains some momentum, indicating that it is recovering, I will then buy and wait for it to get to new all time highs in the next days.
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246
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Alternate cryptocurrencies / Altcoin Discussion / Re: Charlie Lee sold off his LTC. Interesting
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on: December 20, 2017, 10:20:47 AM
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Those are interesting news, and I was not aware of it. Since he talked about Coinbase listing bcash, I guess those are pretty recent news. I have no problems with his actions, and I think they are well justified. He is now completely impartial, and free to develop litecoin as he has been doing during all these years. I can't blame him, and it was a good decision in my opinion. I hold a few litecoins, and I will continue doing so because my trust in the project was not affected at all.
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247
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Economy / Economics / Re: Israeli PM: Bitcoin Could Replace Banks
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on: December 19, 2017, 10:49:08 AM
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Well if he issues this statement really, then this is a bold move coming from a leader who's nation is very controversial. But I have to disagree with him. Crypto will not make banks obsolete. It can't. What I'm seeing is that banks will not to appreciate bitcoin, but will be very interested behind the technology, - Blockchain.
To be honest I think that bitcoin can actually replace banks, if it ever manages to evolve as a currency. Meaning that it would get mass adoption, low volatility and low fees. Banks only need to ensure that cash transactions are secure and valid, and that no one is cheating. Bitcoin achieves that, in a much trustable way, so it has potencial to replace banks. Not saying it will happen, because even if it did, we would still be miles away from that point, since people are still wondering if BTC is a bubble or not. But in years from now, money will probably be used inside a blockchain or something similar.
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248
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Bitcoin / Bitcoin Discussion / Re: Bitcoin transfer cost
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on: December 19, 2017, 10:42:14 AM
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why are Bitcoin transfer fees increasing?
its getting ridiculous seeing as converting 370$ worth of dash over to Bitcoin resulted in a fee of 27$ and then transferring the 343 worth in Bitcoin to another wallet cost around another 29 and then transferring it to my Bitpay card from there cost 18 bucks which left me with 297 bucks out of the 370 in dash that I had.
Bitcoin fees used to be far less correct?
how can a Bitcoin economy work if you have to pay such absurd fees especially if you paying directly in Bitcoin to a business that accepts it?
Is there a way to fix these out of control fees?
Bitcoin network is working at max capacity for several years now, so fiulpro has a point. The fees aren't necessarily higher, but since the price of bitcoin is higher, it looks like you are paying more. Although I might agree with that perspective, we still need to accept that something needs to be done regarding the fees. If BTC grows to $100k it will be impossible to transact small amounts of bitcoin, and that is not the point. As for solutions, a faster adoption on segwit by wallets and exchanges could help a little in the short term, and coinbase is finally going to do it, but what we really need, is for the lightning network to be deployed. Let's hope it wont take to long for that to happen, otherwise it will be hard to use our coins.
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249
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Alternate cryptocurrencies / Altcoin Discussion / Re: BTC or ETH to invest in Alts
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on: December 19, 2017, 10:30:30 AM
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I'm not familiar with those alts, and I think it's very risky to invest in alts that are not on the top15 at least. There is a lot of hype in this market, and since coinbase is planning to list a new coin, a lot of traders are speculating about what coin will they list there. That's probably one of the reasons why they are having huge price increases. I think most people look to the top coins, they see a small growth and they all pile in, so investing in top15 coins normally helps (plus they are more stable as well). As whether to invest in ether or bitcoin, I think you will ok with both. Ether is quite bulish right now, and will probably continue to climb until it reaches $900.
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250
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Economy / Trading Discussion / Re: Global correction. When? Or will it be?
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on: December 19, 2017, 10:24:32 AM
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Nothing has changed so far, and the exponential growth has slowed down a bit. We already had a small correction before the CBOE futures launch, and then the price recovered until the launch of the CME futures. I think we are consolidating now, but I don't see a major correction coming soon. In fact I think the price will probably see new all time highs in the future, as it is still in a bulish trend. Next target should be around $24k. There is still a lot of pressure in buying bitcoin, so it will be hard for traders to sell it or short it in my opinion. And even if it happens, there are a lot of people waiting to buy the dip, so it wont stay there for long.
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251
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Alternate cryptocurrencies / Altcoin Discussion / Re: Litecoin vs. Bitcoin Cash
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on: December 18, 2017, 01:21:56 PM
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Hello guys. Which currency you prefer? I don't have any of them and I am thinking about investing in one of them. Which will have bigger success?
Or you think I should invest in original Bitcoin? Is Bitcoin Core planning to solve scalability issue anytime soon?
Investing in bitcoin is normally the best choice when it comes to crypto, since it's the coin with the best dev team behind them. Also, if bitcoin fails other will probably fail as well. Investing in an altcoin might be a great option for fast profit, because given to their still low price, they probably have a lot or margin to grow. About making a choice between bcash and litecoin, I have no doubts about going for litecoin. It has amazing growth portencial, is listed on coinbase, has a good dev, and let's nor forget that is already testing lightning network as well. Bcash is going all in on the short term, and all they seem to be doing right now is increasing the blocksize, and now they seem to be creating a credit card. They want mass adoption, and they want it now. They are ahead of bitcoin in terms of fees and speed, I wont argue with that, but they will probably have a fast death, as soon as the lightning network gets deployed. So even if they win the race now, other coins will still take their lead in the future, so I don't think they are a good investment.
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252
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Economy / Trading Discussion / Re: Question from Newbie
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on: December 18, 2017, 01:04:07 PM
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Hello, everyone! I need some piece of advice from the experienced people. I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)? Can anyone share their experience about that?
I think the best way to use your funds in order to buy bitcoin, is to go to coinbase and make a purchase there. Their fees are a bit high, but it allows you to directly buy crypto with fiat, and you don't need to first buy tether for example. If you can verify you account on Gdax, that is also owned by coinbase, so by creating an account on coinbase, you already have an account at Gdax, you can avoid fees altogether, both for purchasing crypto, or for trading it. If you want to just trade, you can stay there, or move some of your funds to bittrex, since it offers a lot of altcoins to trade. If you want to store crypto, then after you bough it, you should at least install a desktop wallet like electrum, and move your coins there. If you really want to keep your coins secure, then a hardware wallet like trezor or ledger is the best option.
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253
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Economy / Economics / Re: question on long term prices
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on: December 18, 2017, 12:10:57 PM
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Hi, I am new to all this, but help me understand this. If there is a crypto coin that is very useful and has functional value, not just speculative, say it becomes very expensive. What is to stop someone from just creating their own coin that is the almost identical to it, and using it instead, so high prices are not paid for the other coin? How can all these coins maintain high values, when people can just create as many new coins as they want?
You are correct, anyone can create a new coin, or fork existing coins. But doing so doesn't necessarily give them value. Remember that bitcoin price is defined by the rules of a free market (supply and demand), so if no one wants the other coins, it will have no value. You can actually see something similar with all these new airdops. People create ICOs and donate almost all the tokens, and no one trades them, and they just have no value. Also let's not forget how the network is maintained. Miners would have to move to that new coins, or new miners would have to decide to run the full nodes for that new coin. If there is no demand for it, they won't do it.
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254
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Bitcoin / Bitcoin Discussion / Re: Bitcoin the New Gold & Dash for Payments?
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on: December 18, 2017, 12:03:15 PM
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Will Bitcoin become the new gold and will Dash be used for daily payments? Any other potential crypto currencies in mind that can replace BTC or DASH?
Right now I would agree with you one it comes to choose the coin that works best as "digital gold", or gold 2.0 (whatever the name they call it now). It's gaining acceptance among Wall Street investors, with the release of futures market, and it should soon get ETF approval, so it's all set for bitcoin to become a new asset class. Because of it's characteristics, it definitely resembles a lot with gold, but it enhances it further, since it's transactions, mining and storing, are a lot more secure and efficient than using gold. As for Dash as a payment method it's hard to say. The currency status, or new payment method status, for crypto hasn't been decided yet. Mos cryptos are still to volatile, so even with low fees, it will be hard to use them as a payment method right now. Also, let's not forget that is the lightning network works well, Bitcoin could also enter that race again, so nothing is decided yet.
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255
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Economy / Trading Discussion / Re: Entering into the crypto market for US is pretty hard right now...
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on: December 17, 2017, 10:52:29 AM
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What you said is correct and in my opinion you are choosing the right exchanges as well. I think coinbase and bittrex are one of the most reliable exchanges out there. I never heard anything bad about gemini, but I wasn't searching, so I don't know if those rumors are false or not. I have been using coinbase, and I have my account verified and already made some bank withdrawals as well and everything went fine. The only bad thing I heard about bittrex, is that they somehow accidentally leaked information about ID verification. Right now that is the only thing that is keeping me from going to bittrex. Which is quite sad, because I wanted to invest in cardano when it was 12cent and I didn't, and now it had this massive rally.
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256
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Economy / Economics / Re: Largest bubble ever? Only the fourth so far!
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on: December 17, 2017, 10:45:35 AM
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If bitcoin really was a bubble, and people could predict this in advance. They could stand to make a lot of money by shorting bitcoin or by investing in bitcoin's competitors which would stand to benefit when the bitcoin bubble popped.
There are many who claim bitcoin is a bubble, but none of those people are willing to put money on their own prediction.
Maybe I'm old school but I miss past eras when people made a point of standing by the things they say, rather than feeling entitled to say random things that even they don't believe in.
Not saying bitcoin is a bubble because I don't think it is, but what you are saying is not that easy. Shorting an asset comes with huge liability, and i it was a bubble and they were shorting before it was at the top, and close to pop, they would not be able to keep it's position unless they had a huge amount of funds, to cover their liability. Bitcoin is now mainstream, and every one is now hearing about it and buying it, so even if it was a bubble I don't think this was the right time to short it. Also, if it was a bubble and crashed, buying other coins wouldn't help because they would crash as well, since they share the same fundamentals.
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257
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Bitcoin / Bitcoin Discussion / Re: France's position on Bitcoin (massive taxing on profits)
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on: December 17, 2017, 10:39:22 AM
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I'm not from France, and my french is terrible so I only your translation. I understand taxes should be paid, and I'm perfectly ok with that, as I think most of us are, but if the taxes go as high as 60% that is just an outrage and I doubt they will go forward with that. Unless that is the same amount they charge on the profits made on trading other assets. I think it's still to much, but if french citizens are already use to that, then they should be fine with it. If they don't charge 60% on gold profits and other commodities then what they are proposing is not reasonable.
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259
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Economy / Economics / Re: Blockchain future
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on: December 15, 2017, 11:22:20 AM
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Many people look at the details, and lose the whole picture. Blockchain is a revolutionary technology because it does not need a trusted party to confirm transactions (trustless). That's what we have with the blockchain that we didn't have before. Our societies are built on trusted parties. It will take many years for us to understand the full impact that this technology has in our lives. I compare it as the invention of the internet. Nowadays you cannot imagine doing research and share knowledge and collaborating without the internet. The same will be after 30 or 40 years, where people could not imagine how to do transactions with a need of a trusted party, as we do today.
You are right, this is exactly the big point about blockchain and why it is so incredible. Bitcoin is just one of the numerous applications of the blockchain network. It's a very valuable one of course, because we need trust in order to be able to spend our money, and that's why banks were created. With blockchain we have trust over the internet, and banks will probably disappear. Not saying fiat will disappear, because governments will probably just create their crypto version of fiat. The only possible way for fiat to disappear would be for governments to disappear as well, and we would need to have a democracy based on the blockchain as well. Anyway, blockchain technology is here to stay, and it will be used in many areas of our lives (finance being just one of them). Of course a lot of things need to be done, and it's scalability issues need to be solved.
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260
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Economy / Economics / Re: Bitcoin vs. Gold Prices
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on: December 15, 2017, 11:15:53 AM
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For now bitcoin is at its high pitch value for us. Bitcoin has the obvious bigger value over gold. Although even if you Hold gold for a reall really long time even for a 100 years it is still going to be valuable. Bitcoin on the other couldnt go that far i think but bitcoin has i think doubled the price of gold for every grams of it.
I don't think you can do the math like that. If you want to compare bitcoin and gold prices you need to look to their marketcap. If you do that, you will see that gold is much more expensive than bitcoin right now because it's marketcap is somewhere around $6 tln and bitcoin is just sitting at $300 bln. Bitcoin price needs to go up a lot, before it becomes as valuable as gold, so this means that if BTC really manages to become gold 2.0, then it's still incredibly cheap.
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