maybe it is time that you start actually reading the stuff you are quoting and answering to before answering to them!
this is not talking about bitcoin being profitable or not, it is about Binance (an altcoin exchange service) making that much profit so far from the fees they have been earning from their large number of users. not to mention that you bumped a 1 month old topic here.

to be fair many of them used to say basically the same thing before this rise happened too. for example that Chinese dude OP keeps quoting (Tom Lee?) has been a bull for as long as I can tell. he has been saying price will rise up even when it was going down.
the only difference is that during a drop the media tends to post and magnify the negative speculations talking about devastating drops and during rises they do the exact opposite by posting the hyped up huge rises.

without any major news price wouldn't go up that high which is nearly 100% rise in a short time of 3 months. with major news we may see that kind of big rise. otherwise the slow and solid rise is the most possible outcome.

besides we already have a news which people made major called ETF!

you should keep dreaming about both of them because 1k is never going to happen again and 100k is not going to happen in a short time

- Amazon or eBay are not going to accept bitcoin overnight for you to wake up to it. not to mention that they both will be replaced soon by decentralized market places like Open Bazaar.
- China never went away to want to come back now!
- and ETF approval is not going to change much about bitcoin in my opinion.

it is because part of the bitcoin community consists of speculators who have invested in bitcoin and are looking for profit, some of them are newbies. speculators tend to talk only about the price and what will happen to it. it is not about predicting the future it is about making the best guess. if you don't want to see price related discussions then don't hang out in places that are for price related discussions. for example go to this board instead. it is like going to a Forex forum (random example) and say why is everyone talking about USD price?!

of course it is inevitable at times to see a large number of people who are only interested in profit making. it is a necessary evil that comes with the magnificent performance of bitcoin.

first of all if you want to start analysis, you can not treat the market as a whole. it doesn't work like that. bitcoin is moving for itself while altcoins (despite being negatively affected by it) are still moving on their own. and each for their own. so if you want to do a proper analysis then you should separate them. also post in the appropriate board: bitcoin speculation or trading discussion for bitcoin and the altcoin speculation for altcoins.

secondly it is best if you include some charts. it is easier to read and understand and you can make them easily. visit tradingview.com for examples a good chart tool to use online.

many countries (in fact nearly all of them) also allow usage of cryptocurrencies so I don't know why you even started this topic! maybe because you fell for the FUD that keeps coming out saying some country banned bitcoin?

in any case the drama that surrounds cryptocurrencies which the FUDs refer to as a ban is mainly concerns that governments have about them. concerns including usage of them for illegal activities, tax evasion, and some other stuff. and the goal is regulation... something similar to regulating gambling casinos, giving liquor license to those selling it,...

sometimes it doesn't have to really be a big thing to help with the little push needed for the bitcoin adoption to occur. sometimes a little hype is a good thing. some people need that little push to start opening their eyes on reality after years of listening to nothing else but FUD and being brainwashed with it.


I'm not sure that this is true.
we already have high volatility and manipulation in the market so it won't get any worse. but ETF can help grow the size of the market which can actually reduce volatility and effects of manipulation.

exactly.
my theory is that if someone hates bitcoin so much and believes in at least half of what they tell others then they would simply stay away from it instead of continuing to be seriously involved with bitcoin. they have to have some sort of benefit in it to constantly talk about something they claim to be "dead" or "bad" or "fraud" and lots of other things!

this here was a "trap" for newbies which happened 2 days ago.
you see how there is a sudden drop out of the blue with a big drop then followed by the panic sell that made the drop bigger and then stopped there? that is a fake dump. and it is even more clear now since you can see it never even lasted more than a couple of hours before jumping back above $7k line with a sharp rise.

I am generally against joining any kind of social media groups, channels etc. when it comes to trading cryptocurrencies because the chances of them being a pump group in disguise is very high, and in many cases they don't start as a pump group but turn into one.
learning the basics is fine and if you found a channel that helped you do that, then even better but don't try to do more than that. what you have learned so far is more than enough. you won't gain any more knowledge by paying them now! what you need to do as your next step is to enter the market and start watching the charts and see how things move. otherwise if you stick to "theory" you will never learn.

someone making a random statement based on his guess is doing an "analysis", if things were that easy then everyone on bitcointalk would have been considered super experts because of the guesses they make every day!


this is very true but also remember that when we are at that point then it is already too late and all the initial stages like the "bottom" and the "accumulation" when investors should start investing are over.

yes it is circulating supply * price. but if someone bought bitcoin for a high price it doesn't mean market price would go there and stay there. there is sell pressure at any point in time which brings the price down to previous values. in other words you can't pump any asset and not see it get dumped. it is only the natural growth that can stay up.
and remember that when you talk about supply it has to be in circulation not tucked away in the dev's wallet as its premine.

ps. the $90 trillion was the total money in the world equivalent in USD not total USD in circulation, I was wrong as someone pointed it out earlier.


a while back I told someone that I was getting paid $1000 per post and they didn't believe me because they did a quick calculation and thought I was lying (0.001BTC * $500 = $0.5) but in 2018 they started understanding what I was talking about (0.001BTC * $20000 = $20) and in the near future (0.001BTC * $1000000 = $1000). and I have held about 90% of what I have earned.

same with freebitco.in
so far I have earned 0.014BTC in daily profit which in my eyes worth $14000

while we are on the subject I have my eyes on this round's lottery. fingers crossed for the grand prize of 1.4BTC....

that is the whole point of the argument. what you call "value" is just market cap which is not even a defined characteristic for a currency, it is meaningful for a company in stocks market not a currency in circulation. not to mention that most of these "derivatives" are not really in circulation. you can literary create market cap out of nothing.

there is no such thing as "50% dominance" what you are referring to has nothing to do with dominance but it is simply market cap of bitcoin which is a meaningless number compared to the total market cap of about 1800 altcoins. and it will go down as long as new altcoins are growing like mushrooms out of thin air and will go up as soon as these useless altcoins meet their inevitable doom and join about 4000 other altcoins in the graveyard.

dude why do you keep feeding this troll? Zin-Zang has been doing the same thing last year with SegWit and kept spreading nonsense about it like this but with a different account while advertising his altcoin. that account is banned now by the way and he is ban-evading right now.

it really depends on your strategies and what you are more comfortable with.

I personally prefer investing all my money in bitcoin and nothing else.
but then from that amount of bitcoin that I own I dedicate some portion of it for trading. it again depends on how much you are comfortable with. for example you can invest $100 in bitcoin and then use $90 of it for trading. I prefer a smaller portion for trading because of the risks.

then from that portion I buy different altcoins and it doesn't matter what they are. it is ETH one day, XRP the other and XYZ after that. I move around and make profit from the coins that are getting pumped. I don't hold any of them.

and eventually I transfer the profit out to my bitcoin cold storage.

this was the strangest thing I have heard! and it makes me wonder if they would have created the same thing if it was "stocks trading", "Forex", "precious metals",.... or different types of trading. why focus on cryptocurrencies?! that is the weird part.

for example would you go to Warren Buffet and tell him that he is an addict because he trades? there are billions of traders trading in thousands of markets around the world and now it is the first time that they are targeted like this just because cryptocurrencies are involved. that makes you think why the attack?

this is the key important thing about all this. the adoption of this global currency is less than 1% so far and if you stop reporting the price per 1 whole bitcoin you can see how cheap it is right now. in other words 1 satoshi which is the real unit at code level by design is currently worth $0.00008

and for those who keep reporting the market cap as if it becomes X then it is impossible but if it becomes Y (Y<X) it becomes possible I have to say you are not making any sense.
try searching for how much is US dollar's market cap. try searching it for market cap of JPY, EUR, INR,... you will fail because it has no meaning!
if you want an equivalent, there is about 90 trillion USD in circulation in the world according to a google search which means for bitcoin which is a global currency unlike the centralized USD, with the same market cap its price should be about $5 million which means 1 satoshi would be worth $0.05. do you still think it is impossible?

that is only true about bitcoin not cryptocurrencies in general sine the real adoption has only so far happened for bitcoin and most of the altcoins aren't even ready for the real world or capable of it even in some cases.
and regarding $10k I have to say it is not such a far away target to be impossible for a short term. it is only a small 20ish percent rise which is really nothing for bitcoin. I think you should have said $100k in short term.

maybe in the long run that happens because SEC approving ETF may mean like an approval of bitcoin which can change the minds of many investors and average Joes about bitcoin and put an end to majority of FUDs.
but just because they accept some ETF it doesn't mean millions of dollars is just going to be poured into bitcoin! even the ETF itself has already bought the coins required for it to be traded so that money is already in and people investing in ETF are not investing in bitcoin, they are buying that ETF which won't change bitcoin price at all.