Latest posts of: Pursuer

Quote from: NeuroticFish on August 03, 2018, 06:43:15 AM

Quote from: medaheads on August 03, 2018, 06:22:12 AM

Until then, it may hover between $7600 to $9000.

"Hovering between $7600 to $9000" is different concept from crashing.
Did you want to copy/paste a different news and mixed them up? Tongue

Also, it cannot really hover "between $7600 to $9000" when the current value is not inside those limits, right? Wink

Maybe that's why you change the subject to "crashing"? No. It's not crashing, at least not in my opinion. Just the lower limit of the "hovering" interval was too optimistic. $7000-$9000 or even $6500-$9000 may be more realistic.

it is because the definition of crash that newbies like OP have is very different from definition of a crash that normal people have. it comes from their false expectations out of bitcoin. they expect it to always rise and rise big. for example if today price were $7000 they expect it to be $8000 in a week then $9000 in 2 weeks and by the end of the month they expect $10k and $100k by the end of the year.
and when that doesn't happen they consider it a "crash" and sometimes they even call bitcoin "dead" because of it!

Quote from: vktrglbr on July 31, 2018, 05:31:42 PM

Quote from: ntarah langger on July 31, 2018, 03:17:20 AM

Quote from: Impulseboy on July 31, 2018, 01:05:40 AM

I have a friend who is interested in getting into bitcoins but he does not have a lot of savings or any major investments. He also has a lot of debts to pay and has an average wage job with a family of 4 to raise. When we were talking yesterday, I thought: who really would benefit the most from investing in bitcoin or cryptocurrency? Can those who are like my friend get into bitcoin even though he has no major investment? Or is bitcoin only for those who can afford it?

you are wrong to say bitcoin is only for certain people only!
bitcoin can help everyone economy, oya i want to give suggestion for your friend.
if at this time he does not have the capital to start trading should participate with bounty campaign to get capital, after the capital collected then start trading.
because honestly at this time I also do not have the capital, I'm working on it by participating with bounty campaign.
and many people who used to not have the capital to trade crypto now have the capital not even a few who have become rich.
start at the bottom. Good luck

Agree with you! Boutny and Airdrops it's good chance for people, who hasn't a capital. Also in crypto important invest often at list 10 $. At the right time it can to give big profit.

both are waste of time for receiving a small amount of money. and the time you waste to claim them can be spend for doing something constructive and doing some real job to earn real money and then if you are really dying to invest, you can invest that money in bitcoin. otherwise wasting time every day looking for airdrops and filling your wallet with useless tokens is not going to make you rich.

Quote from: DavidSalomon on August 03, 2018, 05:55:24 AM

SEC has again delayed their decision regarding Bitcoin ETF. Hopefully, they will take into account the recent public reaction where 97% of the people voted for bitcoin ETF to gets approved by the SEC. If Direxion has proposed a well formulated structure which is fraud proof and sustainable then ETF is very likely to get approved.

in a perfect world that might have been right.
but I am starting to think that SEC may not want to approve anything bitcoin related at all. and that may even be for the best. people have to realize that we don't need SEC's approval of bitcoin to succeed. the real success is when they reject bitcoin and bitcoin grows.
so far in the past month or so they have caused a lot of fluctuations in the market which wouldn't have existed otherwise. we could have seen $9k by now if there were no ETF proposals.

it is always easier to blame things on a boogyman instead of seeing what really is happening in the market. and manipulation has turned into exactly that. people want to explain certain things they can not explain otherwise so they come up with manipulations.
of course there is manipulation, nobody can deny it but to say price is always manipulated no matter what, both rises and falls, is just nor right.

there have been a lot of altcoins years ago which people thought will be still on top and strong just because at that time they were on top of the list like #1 altcoin but eventually their bubbles burst and they started their descent to their graves. some of them are already dead and some are still around but nobody even remembers their names.
this trend will not change anytime soon because these "major" coins are still the same bad coins that just got bigger than they should have been.

here is the list of almost all the exchanges that exist today: https://coinmarketcap.com/rankings/exchanges/

this list is sorted based on volume and the one with the biggest volume (basically those on top) are considered better by majority of traders. BUT that doesn't mean they will stay good or on top and it certainty does NOT mean they are not scammers.
for example #1 is binance now, a while ago it was Bittrex but they scammed a lot of their users so they lost a lot of their users and now they are mostly reporting fake volume to keep themselves up.

how is this even a question that you asked? this is too obvious! you or your friend are trying to generate views for that vide Wink

in any case here is the summary of what is happening:
on August 2nd (50th anniversary of McDonalds) they decided to do a give away to their US customers who buy a Big Mac.
what they are giving away is a physical token.
these customers have to go back to another McDonald chain after 1 day at least until end of the year to give that token and receive a free Big Mac!

now I leave it to you to decide whether this is even remotely related to bitcoin or not Cheesy

edit: in case anyone was interested this is how the token looks like:

#CelebrateObesity

Quote from: NeuroticFish on August 02, 2018, 06:44:24 AM

Quote from: Pursuer on August 02, 2018, 06:40:36 AM

then we had the big drop to $6k and now we have the follow up "correction" of that.

Yup, in theory it sounds wonderful. The only problem is that in reality some rich entities don't seem to want that "correction" start yet and keep pushing the price down.

I completely agree because I have seen this with my own eyes! it is hard to believe it sometimes.

and the only thing that helps me keep my faith in the market is believing that there will always be a balance between these "rich entities" that go against the market and the rest of the market which also consists of other rich entities who want a different thing.

Quote from: harizen on August 01, 2018, 08:25:50 PM

Quote from: ridertiger on August 01, 2018, 09:46:49 AM

Why bitcoin price keeps going down these days? Is it just the ETF rejection of Vinklevoss twins?

Keeps going down?

We just came from the rise after being strucked at $6,000+ for a matter of time. Good thing the price experienced like this so that others will not be deceived by their hopes that the rise that started recently is now the start of bull run going to the moon.

That ETF result thing isn't the main and primary reason why bitcoin price stopped it's momentum. Generally a normal market move on which some trend are being spoiled by a speculation.

some people tend to be over dramatic about bitcoin! OP says "keep going down", others were saying "bitcoin rally has begun" and talk about "pump" a couple of days before just because price went a little big higher than its previous value.

all the speculation stuff and ETF aside if they look at the big picture they can see things are pretty good right now. we had the big rise to $20k and then the follow up correction. then we had the big drop to $6k and now we have the follow up "correction" of that.

Quote from: bbc.reporter on August 02, 2018, 02:46:47 AM

Also, ETFs are only good for those few large specialized investors called authorized participants because they hold your bitcoins, while you hold a useless ETF.

exactly. and the money has already entered the market to buy bitcoin for these ETFs, it won't enter again after the approval.

Quote

I reckon the approval will pump bitcoin, but it will also dump bitcoin after a short time when the news of the approval is released.

I don't think so. the hype has already done what it could do. after the approval we may not see anything. and if there is a rise it would only be a trigger needed for the money to come back not a "pump" and that means it won't go back down because of it.

$50k will happen with or without ETF, and most probably in the same time frame with or without ETF!

Quote from: abruchifid on July 26, 2018, 06:48:47 PM

What do you think won?

in my opinion it is not about winning or losing. the argument is all that matters. you always need to see both sides of the argument and take their points under consideration.
bitcoin is not this perfect thing to come in and replace everything while people abandon all their fiats, banks, and government rushing to use bitcoin. and fiat is not this perfect thing without any corruption and lots of other downsides.
the perfect system does not even exist!

what we have is an imperfect bitcoin with a lot of benefits that were mentioned and the imperfect fiat system with benefits of its own. when you want the benefits of bitcoin, you should always have the option to use this decentralized currency freely. that's what won!

Quote from: BitcoinNewbie15 on August 02, 2018, 05:23:39 AM

Quote from: MatthewNaccarato on August 02, 2018, 01:20:56 AM

The delay is a good thing. That way, they will have time to further solidify their case and present it as a stronger one. But what the end result will be is still unpredictable. Let us be optimistic about it.

It's hard to be optimistic at this point though, as both of the Winklevii ETF proposals have been rejected. It's good that the SEC commissioner is pro ETF, but it is difficult to think that this delay is a good thing. If I recall, the initial Winklevoss ETF proposal was delayed several times before the SEC finally rejected it. most of these ETFs will be rejected.

Eventually though... There will be an ETF that is approved, and when there is, expect the pump of a lifetime IMO. This will likely happen by 2020 at least. Fact of the matter is, the Bitcoin market is plenty more regulated than what it was several years back. This regulation will increase (KYC for example) as time goes on as well. The SEC will soon no longer be able to use the "lack of regulation" excuse. Starting to think they are afraid of Bitcoin because its a sign of decentralization taking hold.

there were more reasons for rejecting Winklewoss ETF than just lack of regulations. I don't think that was even mentioned although I don't really follow it since it doesn't matter to me that much. I read that one of the main reasons was the fact that they were fully relying on the price of bitcoin from their own exchange and nowhere else but other ETFs are using an average of multiple big exchanges to get the bitcoin price.

I also don't expect a big "pump of a lifetime" from ETF. it is mostly hyped up and that hype is actually preventing the real rise from happening because everyone is waiting for the ETF decision to invest. they fear a rejection can drop the price so they are waiting for that drop to buy cheaper coins or see the rise and then buy missing a chance.

people shouldn't seek financial advice from random people on the internet in first place. it is like going to an electrician to ask for open heart surgery! you either seek professional help or educate yourself enough to be able to analyze the market on your own and make your own decisions. and if you can't then nobody is forcing your to invest in bitcoin.
with that said newbies that are discouraged from investing in bitcoin because of some "bad comment" on the internet don't have that much money to affect anything most of the times. they only become effective when there is a large number of them which is usually when price has gone up a lot like bubbles.

it depends on who is saying it and under what context.

most of the times what you read online is pure FUD written by even bigger idiots who have no idea what they are doing and think if they say some nonsense on some forum they can make money from it.
but under a different context it may be true. considering the fact that there are thousands of altcoins most of which are completely useless you can say majority of altcoins will disappear. and that is not even new. for the past 9 years we have seem thousands of altcoins be created and die to disappear.

bitcoin is different from cryptocurrencies because it is the only one that has real usages.

Quote from: BitcoinNewbie15 on August 01, 2018, 05:03:30 AM

Quote from: LFC_Bitcoin on July 31, 2018, 07:14:32 PM

Quote from: 1Referee on July 31, 2018, 02:11:35 PM

What usually happens is that the price increases in the runup to the event, which happened prior to the previous block halving as well.

By the time the halving took place people were wondering why the price wasn't going up, where they completely ignored the fact that the halving was already priced in. It's somewhat similar to buy the rumor sell the news, but since the block halving is fundamentally so important for Bitcoin, there is no sell the news aside from some people securing profits, which happens after every increase. After the block halving we can expect steady growth.

The market only seems to be really affected by the halving once the supply of coins is less on exchanges which is after the halving & can take a while.

Exactly, usually, the market doesn't react to the halving until 6-12 months have gone by. However, the sample size we have for this is very small. I'd say the hype surrounding the halving alone would be enough to cause a pump when it happens. I've noticed that many of the crypto newbies (2017) don't know what the halving even is. I'm sure once the halving gets closer, more people will start talking about it and once the newbies realize the implications, they will FOMO in like crazy.

for something like bitcoin that has something major happening for it so often, you can't say that some price change that happens with a 6-12 months difference from a certain event is the result of that event in this case block reward halving. that is just such a huge time frame.

not to mention that the past two times that we had a block reward halving, the rise began about 2 months before the actual date because the hype began by that time and then we had the correction as the halving was near. the real rise was a slow rise that happened a couple of months afterwards though.

Quote from: ralph_0608 on August 01, 2018, 12:18:01 AM

Quote from: blackwell77 on July 27, 2018, 11:03:57 PM

Yeah i am also agree with that. BTC ETF is really creating a good hype which is clearly visible in the growth of bitcoin in last few days.

this is the major reason for a huge price surge but it seems majority are expecting the SEC would trashed this etf application thats why bitcoin price is in consilidation and seems in downtrend mode again.

if you think a less than 20% rise which is just going back to normal prices is a "huge surge" then what do you call the 120% rise that we had in December?!

as for current trend, it is not a "downtrend mode" unless we enter $6k and go below the proven bottom price. this recent drop is more of a manipulation of whales in my opinion based on what i saw in the market yesterday and also because there wasn't any reason for this drop to happen. there wasn't even a news to cause it!

technically bitcoin is not an asset but speaking of investing in bitcoin, it is a good investment because it is a new technology and it is unique. the notion of decentralized money is a strong one, add to that the scarcity of bitcoin and the deflationary attribute then you can see that the chance of a rise is big enough to justify the risk of investing in it. and right now we are still in the early stages of adoption where the mass adoption has not even started which means there is a long way to go upwards.

but at the same time the risks are undeniably there so you have to invest responsibly not emotionally. and most importantly you have to invest or not invest based on your own speculation not what people are telling you online.

the point is buying altcoins is not even called "diversification". and the term "portfolio" was introduced last year with all the big pumps happening by the portfolio websites so that they could get more visitors/traffic and earn more money. otherwise it is not a real "portfolio" when someone buys 50 to even 100 different altcoins and tokens thinking they have diversified and then see all of them get dumped at the same time. you can't even manage that many altcoins at the same time!!!

as I always tell newcomers, you need to be a trader if you want to enter the altcoin market. it is a daily market that has good movements in short term but it is terrible if you start looking at it as an "investment".

all this energy drama has been mostly an attack against bitcoin to indirectly imply that "bitcoin is a waste of energy" and with that imply that "bitcoin shouldn't exist". but the thing is they are just spreading FUD to make people believe that bitcoin is not providing any utilities. OP had a good point, bitcoin is a 24/7 global payment system with very small fees and no restrictions like the ones banks have. if you really think about what bitcoin is truly doing then you can see that no matte how much energy it consumes it still wouldn't be too much.
as for environmental damage, anything that uses energy is damaging environment. humans living on earth are damaging the environment but would you stop living because of that?

yeah, unfortunately sometimes people get side tracked because they are mostly caught up in price and speculation. when they get blinded by the profit and the money they make from bitcoin, some of them sometimes end up seeking anything that can lead to a faster and bigger rise in price.
regulations, ETFs, SEC thumbs up,... are all because of that. they say it brings in "institutional investors" which is why they are excited about it.

but you are right, it doesn't make any sense. maybe they need to be constantly reminded of why bitcoin existed in first place so that they may stop this silliness!