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January 21, 2020, 07:30:52 PM *
News: Latest Bitcoin Core release: 0.19.0.1 [Torrent]
 
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1  Economy / Economics / Re: Bitcoin Can Gain 100% In 2020 - Halving Not Priced In, Says Fundstrat on: Today at 08:28:14 AM
Halving is definitely not priced in. That's a no brainer.

100%+ in 2020 is also very possible given the fact that the year started out at around $8k and a 100% increase would not even mean breaching the last all time high. It would take some serious bullish trends to do so but it's certainly not impossible.

Fundstrat is finally making some somewhat believable predictions Roll Eyes
2  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto market moves in like a mystery! on: Today at 07:00:31 AM
Lately the market is showing some positive gains in BTC and most of top altcoins too, but how long it will sustain? and the most common question was is it an organic gains? or just an artificially driven? for me the market movements was remain a mystery maybe it was an organic gains or just artificially driven.

What do you even classify as artificially driven?

If you're talking about whether or not gains were due to speculators, it probably is, but then isn't basically everyhting driven by speculation in any market, commodities, equities, bonds alike?

Anyhow, a free market with no regulations is bound to be volatile and unpredictable like BTC markets. There is no way around that. The best you can do is to hedge your bets and not to leave yourself too exposed to the downside risks.
3  Economy / Speculation / Re: Bitcoin price. Will go up? or Will go down below $8600? over the night on: Today at 06:32:47 AM
The $8500 support has been tested 3 times and held up each time it was tested. So I don't think that it's wise to expect much more downside compared to the potential upside when it comes to BTC potentially breaching $9k and $10k once again after the weak hands were flushed out of the market.

Do your own due diligence, but I do think that dollar cost averaging right now would be a wise move to make.

That way, you ensure that you don't run the risk of entering your positions at too high a price but at the same time, not missing out on any bullish price action.
4  Bitcoin / Legal / Re: How is KYC enforced in Bitcoin ATMs worldwide? on: January 20, 2020, 11:53:44 PM
How should i prepare on this while travelling? They just placed KYC in Btc ATMs here in Finland, and i either need to have a previously registered Coinmotion account with kyc, or have online banking codes to withdraw any money.

So i am interested in how much i can rely on Btc ATMs with travelling on some other country and can i rely my Finnish online bank codes working as kyc or do i need to prepare somehow?

I suggest that you don't rely on them at all.

From what I've heard from most countries, it seems like that almost all of them have some sort of KYC restriction placed on users and that is unavoidable given the fact that bitcoin ATMs are a subject of regulation in the majority of countries.

You should just look on Localbitcoins for cash deposits trades, I find that is the best possible way to get a decent rate while not worrying to have to travel far for a Bitcoin ATM that may not even be available without KYC.
5  Alternate cryptocurrencies / Altcoin Discussion / Re: Can Stablecoins Promote the Mass Adoption of Cryptocurrencies? on: January 20, 2020, 10:26:05 PM
It's very unlikely.

Stablecoins can help institutions as well as traders in terms of hedging their bets, but at the end of the day, it doesn't necessarily promote decentralized cryptocurrencies to the extent that people seem to make it to be.

After all, that's not what fundamentally motivates people to adopt crypto. The intrinsic value of crypto comes from being a long term store of value, as well as a means of payment without substantial fees associated with it that can be used across the world. Stablecoins do not necessarily tackle either of these issues.
6  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Can BitTube entro into Top 100? on: January 20, 2020, 09:24:02 AM
No. I haven't seen any real progress in terms of adoption from them since they first came out.

Blockchain based social media seems to be somewhat of a failed experiment at least at this stage when you look at even big names such as Steem significantly decreasing in market cap after the initial hype and buzz around it. There seems to be no real usage case around it, which is what is ultimately causing this failure.

I would certainly not expect BitTube to make such a strong recovery when even at its peak, it was not in the top 100 AFAIK.
7  Alternate cryptocurrencies / Altcoin Discussion / Re: Anyone trading Stellar coin? on: January 20, 2020, 08:43:38 AM
I'm not sure about this.

There is an abundance of supply for XLM from all the airdrop programs that it has associated itself with, including blockchain (ID verification) and Keybase (no ID verification, so you can imagine the amount of bots that signed up and claimed the coins multiple times).

That leaves excess supply and an extremely inflationary coin base. I'm not sure if I would want to invest in that in the long run at least.
8  Alternate cryptocurrencies / Speculation (Altcoins) / Re: What about WAVES? No one talks about it anymore! on: January 20, 2020, 08:18:15 AM
Waves such a great coin it was, everyone was very optimistic about WAVES blockchain and it's DEX! There were many predictions that the price will be very high, WAVES will hit 50-100 USD, the top-ten coin, the competitor Of Ethereum and so on! But nowadays no one talks about it, no promotion, no speculation, nothing! Why did these changes happen? What do you think guys about it?

A lot of alts come and go very quickly.

WAVES's hype came from its ICO initially but the development and hype around it did not sustain, it was as simple as that. There is virtually no use for their DEX which is why there is a lack of adoption, and when there is a lack of fundamentals it makes it hard for speculators to bet on it.

It could still make some short term sizable gains from pump and dumps, but honestly in the long run it has no apparent future.
9  Economy / Speculation / Re: Bitcoin Will Reach $400,000 After Halving, History Dictates on: January 20, 2020, 07:11:30 AM
Even John McAfee has said that he's pulled out of the prediction. So why are we still talking about these absurd figures?

Drawing comparable data from the past could be useful for analysis, but this is certainly not comparable data by any means given the simple fact that you're obviously going to see much harsher conditions to pump BTC under this market, which is much more mature and has larger market capitalization which requires more capital inflow to influence prices in the short term.

Be realistic, guys. The all time high of 2017 could still stand after this bull run is all said and done, simply because of how high it went and how overpriced BTC was compared to its fundamentals at the time.
10  Economy / Speculation / Re: Bitcoin Just Plunged $700 Upon Reaching $9,060, Correction or Reason To Panic? on: January 20, 2020, 06:39:44 AM
Honestly, I'm not that concerned.

BTC has been pumping lately without much corrections, and something was obviously going to have to give as a matter of time.

For long term holders of BTC longs this shouldn't be a concern whatsoever, given the fact that it is normal market activity that has been seen countless times before.

There is already some recovery as well, with prices now above $8660. I wouldn't doubt that in a few days we'll be testing the $9k resistance once again.
11  Economy / Economics / Re: New Hampshire bill to allow taxes to be paid in Bitcoin falls short on: January 19, 2020, 12:01:47 AM
Not surprising.

The whole premise of fiat currencies is that it can be used to pay for debts public and private, i.e. legal tender. Passing this bill would essentially imply that bitcoin is also legal tender when it comes to public debts, which is something that I think has far greater implications than just the legislations of one state.

There is nothing to worried about just because of this news.
12  Alternate cryptocurrencies / Altcoin Discussion / Re: Ethereum after hard fork Istanbul on: January 18, 2020, 11:35:24 PM
Quote
Maybe other participants of the forum will try to dissuade me from buying this coin? Or now everyone going to buy ETH now?

I would say that ETH has been undervalued significantly for a long while now.

During the bear market, you had ETH under 0.018 BTC which is way below its long term mean given its fundamentals. I think that the reason why it's having such a big bull run even outpacing BTC right now is making up for previous irrational dumps that had its value so low.

I'm long on ETH for sure. With the improved fundamentals you'd expect further, sustained pumps as well in 2020.
13  Economy / Speculation / Re: Bitcoin is on its best start-of-year streak since 2012 on: January 18, 2020, 10:33:15 PM
This is honestly the pinnacle of meaningless statistics.

What next? Best perform in September since 2009?

Honestly, making news out of these short term price movements which can be completely unpredictable is a farce and shouldn't be done at all from the perspective of media outlets. Saying that bitcoin outperformed asset x over 10 days doesn't prove anything, and it really doesn't encourage anyone to adopt BTC either.
14  Alternate cryptocurrencies / Altcoin Discussion / Re: Are you sure crypto is the future currency? on: January 18, 2020, 10:01:01 PM
I actually doubt that crypto will be able to replace fiat completely.

An ideal situation would honestly just be fiat and crypto coexisting, with crypto providing aspects of currency that fiat fails to provide, like a long term store of value as well as smart contracts.

It's a bit unrealistic to expect that the government/central banks around the world will just all of a sudden give up on the control that they have over monetary policy and the monetary system in general.
15  Alternate cryptocurrencies / Altcoin Discussion / Re: Adoption Over Bull Run on: January 18, 2020, 09:37:10 PM
Absolutely right.

Price movements in the short run are quite irrelevant in terms of long term holding or adoption. As a long term believer in bitcoin, one should not hope for periods of bullishness which can be just as easily offset by bear markets, but rather actual fundamental improvement in the bitcoin network, to which adoption plays a big role in.

Unfortunately though, a lot of institutional investors who enter this sphere have no regard for actual adoption and just want to make their profit.
16  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Another BSV pump today? on: January 18, 2020, 01:45:14 AM
It's very unlikely that the BSV ATH is going to be breached any time soon.

Reason is simple - the underlying fundamentals of BSV are going to get exposed sooner or later as complete bogus. The previous rounds of pumps were essentially based on complete misinformation and FUD about the bitcoin network itself. So it's certainly unsubstantiated to begin with.

It's already retraced all the way back to $280, a far cry from the $400 highs.
17  Economy / Trading Discussion / Re: handling bitcoin volatility on: January 18, 2020, 12:53:09 AM
If you run a business I suggest that you treat volatility very seriously.

You can either hedge against volatility using a future or option. You can purchase these contracts on platforms such as Bitmex or Deribit. These derivatives will allow you to hold counter-positions to what you hold in BTC, which will cancel out any net movement in prices.

But if you're a long term holder of BTC without immediate cash flow needs, I think that you need to adopt a different attitude towards BTC volatility. Don't think of BTC in fiat terms as much as you do in BTC terms itself.
18  Alternate cryptocurrencies / Altcoin Discussion / Re: PoW to PoS question on: January 18, 2020, 12:04:47 AM
Is Proof of Work is going to lose popularity compared to Proof of Stake? Ethereum is going to PoS. Angry
Is there going to be a lot of hash (computational) power idle because of shifting to PoS?  Sad
Where that power be used then? Will it address such decentralized computing projects as Golem, Storj, Sia, etc?  Cheesy

I don't think that there will be "idle" power. There are so many altcoins and bitcoin mining opportunities out there in the market that it's not an issue for a miner to switch between coins extremely easily. Think of it as mining hashpower being very elastic supply.

Is PoW going to lose popularity though? I don't think so, until BTC switches to PoS at least.

And I don't see any reason for BTC to do so given the fact that it's working as is, and PoW is doing its job well to secure the network.
19  Economy / Gambling discussion / Re: Anyone here dream of achieving their financial goal in life through gambling? on: January 17, 2020, 10:24:14 PM
I think that most people don't get into gambling because of this reason.

Most gamblers acknowledge the fact that in the long run, gambling is likely going to cost them a lot in terms of being a guaranteed -EV way to spend their funds. They know this full well, yet they still go into the casino time and time again being addicted to the games. Anecdotally, this is true as well given what I've heard from avrious chat rooms.

What does this tell us? Gambling could be not financially driven, but rather, have a similar effect on the brain as drugs. You need your hit, no matter win or lose.
20  Alternate cryptocurrencies / Altcoin Discussion / Re: Multiple Round ICOs? on: January 17, 2020, 09:51:55 PM
Nope. And I think this isn't that common due to the fact that ICOs want to achieve their primary goal before anything else - which is to act as a vessle to funnel funds to the founders.

There is no way around that. Having multiple rounds means meaningful roadmaps, and that is the one thing that most scam ICOs absolutely despise.

However, it's not a bad idea at all if community demands this type of structure, whereby you essentially get what you pay for each round. If one round fails, then obviously there won't be a whole lot of demand for the next round of investments.
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