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October 02, 2023, 08:14:42 AM *
News: Latest Bitcoin Core release: 25.0 [Torrent]
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1  Economy / Trading Discussion / Re: trade without fees? on: Today at 04:31:37 AM

I saw a video some time ago that talked about an exchange (maybe it was quantfury) that offered trading without commissions? has anyone used this exchange?

If I remember correctly, this was FTX, and we all know what happened to everyone who left their cryptocurrenices in FTX, as it announced bankruptcy.

Zero fees are a good feature, but these exchanges must make profits. if there is a new exchange that promises zero fees without clarifying how to make profits, it is better to stay away from it and try to ensure that high liquidity, the possibility of withdrawing coins, and legal licenses are what motivates you to continue using it. if you have several options, so withdrawal fees and trading fees are the last measure to compare between them.
If you are a merchant, there is nothing wrong with paying 5% of your profits as fees as long as you get profits.

Yeah I am the one who got screwed by buying that FTT token which got me 0 fees for limit orders. It was great because the fees would of added up and the 20 FTT which I had to buy was maybe $20 at the time. So if you traded a lot and used limit orders it was worth it.

However we all learnt that in the end the loss was greater because the FTT are useless along with any funds kept on the exchange.
2  Economy / Trading Discussion / Re: Is a 20% Annual Return good ? on: Today at 04:28:54 AM
Yes 20% is great but you most likely wonít get this every year even if it was possible in the past. Generally backtesting is never accurate because you donít take into account slippage and liquidity. You will find that in real life you wonít get the fills you normally want and profits wonít be as high as expected.

3  Economy / Speculation / Re: Even Seasoned Analysts Can Get it Wrong on: Today at 04:26:53 AM
When he made the prediction it didnít seem to far fetched at least. It was certainly possible it could hit. $23k. The craziest predictions are the ones which are claiming bitcoin will reach ATH or $1M by the end of the year.

Those predictions are just guessing but more people view those articles and hence why they are reported on news sites. But we all know that itís just hopium and most likely will never happen.
4  Bitcoin / Bitcoin Discussion / Re: Bitcoin millionaire: Lucky or possesses more qualities that we don't have. on: Today at 04:20:12 AM
Yeah i am pretty sure that a large portion of these crypto millionaires are those that mined during the 50 BTC block reward days or they bought when bitcoin was like $10 or $100 and forgot about it for years and then later heard on the news that it hit an ATH and they were millionaires overnight.

Most that trade it daily probably sold way too early. Nobody assumed it would become this big especially after the MtGox collapse. Or when Silk Road was shut down. But here we are.
5  Bitcoin / Bitcoin Discussion / Re: Few reasons why people are hesitant to buy or HODL bitcoin/Crypto on: Today at 04:16:49 AM
Reason why people now are hesitant with investing in crypto is because price is not going anywhere. This is similar to what happened in 2019 when price went nowhere and people assumed Bitcoin was dead.

Only when we broke the ATH and Elon musk was buying bitcoin then we had FOMO and everybody was buying. This scenario will most likely repeat again with another catalyst. Might be the etf or might be some other reason. Perhaps more banks will fail and crypto will be bought again like in March.
6  Bitcoin / Bitcoin Discussion / Re: What encouraged your continuity in Bitcoin investment and Bitcointalk forum? on: Today at 04:14:19 AM
Reason why I stayed with bitcointalk forum instead of Twitter or Reddit or other sources was because when it came to mining you had the best help.

I started mining in 2014 or so and had no idea what I was doing. There wasnít too many websites for help because it was fairly new back then. Only bitcointalk forum had an active mining community and you got help quick if you ran into any issues. And basically stayed since then.
7  Economy / Trading Discussion / Re: FTX Claim deadline Sept 29 2023 on: October 01, 2023, 04:34:31 AM
I am surprised that there is a deadline for these claims when they havenít even started liquidating all their assets. The deadline should be right before they are ready to pay out.

Why waste peoples time with claims and KYC now when it could take 5-10 years and we might only get 10 cents on the dollar.

So I think there will be an extension because this doesnít seem fair.
8  Bitcoin / Bitcoin Discussion / Re: Is possible to clone Bitcoin? on: September 30, 2023, 02:48:01 AM
Well you can actually clone it and you can alter what happened in previous blocks but it would be next to impossible to gain enough hashpower to be the blockchain with the largest block height.

Its basically the reason why many exchanges just require 1 block confirmation for bitcoin while for other coins they usually require quite a few. Reason why is because most other blockchains don't have as much hashpower behind it and its possible to cause a double spend but with bitcoin its very difficult and not cheap to perform.
9  Bitcoin / Bitcoin Discussion / Re: Bitcoin always fight back on: September 30, 2023, 02:44:38 AM
The Russian war had nothing to do with bitcoin dropping to $15K. The Russian war had the biggest impact on price of oil and Russian currency. The reason why it fell to $15K was due to the FTX scandal.

FTX was #2 largest exchange in terms of volume and the SBF owner was trusted by many individuals, so when it went bust, trust was lost in the community. And hence it had a huge dump to $15K.

BTC and ETH held up pretty well. Look at other coins such as SOL which basically lost a significant amount of value. It wasn't a good time for crypto but we all survived.
10  Economy / Economics / Re: Chase Bank New Policy On Crypto - Users Beware !!! on: September 29, 2023, 04:26:01 AM
This I think is from Chase UK but I wouldnít be surprised if it was from USA also. Not really surprised, it was like this for years. Generally the big banks donít like to deal with crypto. You got to use the smaller banks and you wonít have issues.

At least they warned this customer and just denied the transaction, in many cases in the past the account ended up being closed if they made any crypto transactions so at least that is good.
11  Economy / Speculation / Re: Challenging the lows, 25.5k and lower possible break here on: September 29, 2023, 04:23:33 AM
Well looks like the ETH etf is a go but most of the bitcoin spot etf looks like they will be delayed. The deadline is in October but sec is delaying them now due to the government shutdown. They delayed blackrock a few hours ago. So it doesnít look like this quarter we will get the approval.

So in regards to price I think we will just trade sideways. The government shutdown is not good for equities and the bond market is signaling a lot of pain. So unless there is some other catalyst I donít see bitcoin pumping anytime soon.
12  Bitcoin / Bitcoin Discussion / Re: Navigating Bitcoin ATMs While Traveling. Tips and Considerations on: September 29, 2023, 04:20:22 AM
So you are traveling and want to use the bitcoin atm to sell and withdraw fiat correct?

The issue with the atms is that most of them generally only let you buy BTC and not sell, at least the ones I used. Even if it has a sell feature then usually itís unavailable.

Plus you got the issue with the high 10% fees. You really should just use an exchange, withdraw to bank account and pay with your credit card when you travel.
13  Alternate cryptocurrencies / Mining (Altcoins) / Re: New 12V-2x6 power connector on: September 28, 2023, 04:49:38 AM
The biggest issue I had with power connectors was always with the modular PSUs and the +12V would typically melt. Usually the GND was always fine but the +12V had a tendency to easily melt.

No idea why. Maybe because I plugged and unplugged too many times and it widened the female connection or maybe the pins were sitting at an angle instead of being flush and straight. No idea.

Rarely did I have issues on the other end where it connects to the GPU. So it wasnít like this faulty connector mentioned in this article.
14  Economy / Trading Discussion / Re: Basic indicator that are very helpful and you may don't know yet... on: September 28, 2023, 04:44:52 AM
Those indicators wonít help you to be profitable over time. You can plot a few of those on a chart and you will see that at the same time they give both long and short signals.

Indicators for me are a good way to enter a trade but you need other methods first. With crypto itís best to look at the funding rate and open interest. If funding rate is positive and open interest is going up then look for a long using moving averages.

This way you cut out many losers.
15  Other / Off-topic / Re: Google is 25 Today - What has been Your Experience ! on: September 28, 2023, 04:41:14 AM
I remember using Google for the very first time and was amazed how reliable and accurate it was compared to Yahoo, Infoseek, AskJeeves or whatever else was out at the time.

So I am not surprised they grew to this great popularity and pretty much are the only search that most people use. From what I recall Bing is maybe used 2-3% and same with Yahoo.

16  Economy / Trading Discussion / Re: Is it possible to do Gamestop saga in crypto.? on: September 27, 2023, 04:06:41 AM
Yeah itís possible, especially on any type of small or mid cap coins which have perp futures and are heavily shorted. It happened before on many occasions.

GameStop was different because it was mostly extra leverage which was created by the market makers that printed those call options which were bought by the wall street bet investors. When the price went higher and higher they had to hedge by buying the shares which was in limited supply. Hence why it shot up so fast and blew out a few big players.
17  Economy / Economics / Re: The Devaluation of fiat money is powered by Inflation on: September 27, 2023, 04:03:47 AM
There will always be inflation. However getting 10% inflation is not normal. It hurts many people living pay check to pay check and those that are savers.

Normally you should never hold cash in the bank. You need to have it in some form of investments such as stocks or even bonds. Right now you can get 5% with most bonds and itís risk free pretty much. So with the inflation we got right now, you are pretty much breaking even.
18  Economy / Speculation / Re: Potential events that can initiate next bitcoin rally on: September 27, 2023, 04:00:24 AM
Most likely no etf approval this year. SEC for some reason already delayed 2 different etf applications which were scheduled to be reviewed in a couple of weeks. This is very unusual.

However with this in mind there is a chance it might get approved in Q1 2024. September is pretty much done and that leaves only 3 more months of the year. We all knew they were most likely going to get delayed anyways.
19  Economy / Economics / Re: Surge in Bankruptcy Filings And Economic Crisis Vs Recession Vs BTC Price on: September 26, 2023, 04:42:07 AM
Yeah itís not looking good. Pretty soon the employment data will show this. Many of these are most likely due to the high interest environment.

People got into debt when it was cheap and when it started to rise, they felt the pain and couldnít keep up. Itís going to be worse since it looks like there will be another hike before the end of the year. And it will get worse if layoffs start to happen.
20  Bitcoin / Bitcoin Discussion / Re: MicroStrategy Bought More BTC on: September 26, 2023, 04:38:07 AM
It seems like he buys every 2 months or so. From what I read he has like $600m left to purchase more. Most likely he will be buying around $75M every month until he depletes all those funds.

Itís crazy to think that after all this buying, he is still at a loss. This is why you should never DCA large portions near the top. I think he was in profit for a few days only this year before it again went below his average.
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