|
an interesting thought but you are asking this question as if it was already 100% proven that the sales by Mt. Gox trustee caused the drop in bitcoin price. but in fact there has been no proof and for all we know their sells didn't do much to the price.
in my opinion there is a possibility that this sell off caused some additional sell pressure on the market and even it is possible that it caused some panic sells among whales who were monitoring these big funds even before the news was spread but I don't think it was the only reason for the drop.
with that said without it price would have still come down from $20k to $10k and possibly even the first drop from $10k to $5900 would have also happened in a smaller size and we may not have seen the recent drop below $9k.
|
|
|
|
Gambling nothing but having a fun not just wasting money. For me, gambling means pay my money to enjoy my time but I don't get that enjoyment by buying lotteries. I don't know about you. I'm okay to spend that money on either playing dice game or some other slot games sometimes.
Sure, but each to their own. I don't generally buy lottery tickets either, as in here or land-based ones like Euromillions, but I know people that do and they get some enjoyment out dreaming what they would do with all that money if they win. that is the essence of gambling, isn't it? everyone who has ever spent any money on any form of gambling be it dice games, card games, or even lotteries had the dram of winning . it may not even be winning the big prizes an getting rich from it, just the notion of winning something is what gamblers seek. and lottery can be like the ultimate gamble which has a very small chance of "winning" so if you win you will get the ultimate "satisfaction" from it. |
|
|
|
|
all you need to know is that bitcoin is a currency and that should answer all your questions. because just like any other currency (eg USD) technically you can use bitcoin to trade anything you can think of. from altcions to currencies and to physical goods.
the problem is that as long as there are no platforms to do such trades on, you will have to find people to trade with manually like searching on forums, etc. there actually are some platforms to trade a lot of things for bitcoin, I have even seen platforms to trade stocks with bitcoin.
and as bitcoin becomes more popular it will be used more in cases like these.
|
|
|
|
|
first thing you need to do is to learn how to use stop loss. I am going to use your numbers here. assuming price is $8000 and you buy, then if it drops 3% which means going down to $7760 you must sell not wait for anything else like price going lower,...
now that you have not done that, what you can do is to either hold on to what you got and wish for it to go up or sell and get out and start making better trades. this means for example if you are hodling some altcoin which has dropped significantly then you sell it right now no matter what the price of it is and then start making better trading decisions. like buying an altcoin that actually has the potential to rise or better yet buying bitcoin which is the only thing with real potential. and then using stop losses in the right way.
note that I said invest in something has the potential not just any random altcoin that you guess might have it.
|
|
|
|
After my post of yesterday BTC started to move up to $8,000. Now the price went over $8,200 and starting to move to $9,000.
just because it went back up, it doesn't mean it is headed upwards and to $9000. the same way that just because it went down it doesn't mean it will drop and will head down to $2000! trust me when the rise starts you will know it because it won't be a small rise that lasts a little while and struggles to go up. the rise will be the initiation of the rally and will have lots of FOMO buyers jumping in with their eyes closed. |
|
|
|
|
panics have never been solely because of some news like regulation news, etc. but instead they have always been a combination of causes which lead to a big effect called panic sell.
for example when the price is falling and the dumping is going on thanks to the initiators of the dump or the whales, and panic sellers see it then read some news about some regulations, bans, hacks, etc which may as well be completely irrelevant to bitcoin, they start panicking then. and that panic is what causes the big dumps to happen and price to go much lower.
|
|
|
|
|
first of all there is no ASIC resistance algo unless you plan on changing your algo every couple of months to prevent that from happening. as long as it is proof of work and people can pool their works together and find blocks by putting some computing power, there will be some company that creates a "device" that can do the hashing better and that will be called ASIC.
changing to PoS is never going to happen because the distribution method of PoS is seriously flawed as it is. it is simply the flawed way of making rich richer. and nobody will ever agree to it.
|
|
|
|
there is no difference. this address is valid on both networks since bitcoin cash is a fork of bitcoin, so it shares all of its rules up to the point of fork. which is the address format. if you have the private key to this address then you can access to the coins which are received by this address whether they are on BCH chain or BTC chain or any other fork which shares the same address format. you can also always search your addresses on blockchair and see which chain has your coins. this https://blockchair.com/search?q=17sumvN4GfhdDHLfbVSmyKDfPjwj2UY34e shows they are on bitcoin chain. https://blockchair.com/bitcoin/address/17sumvN4GfhdDHLfbVSmyKDfPjwj2UY34ep.s. if Crypto-Bridge holds the private keys to that address then they have control over that coin (the 0.042 BTC transaction output) and they have to manually import the key from their BCH wallet in their BTC wallet and spend it so that they can also credit your wallet on their website. they may not bother doing it since the amount is rather small! |
|
|
|
|
unfortunately technical analysis (moving averages that you are using here for litecoin) is not something that can work for altcoins. in my opinion it is mostly a waste of time to focus on them to try and make a trade using TA. it may be helpful at times to get the feeling where things are headed but it will never be close to accuracy enough to be considered a serious thing.
for Litecoin it is, like always, following bitcoin. and if bitcoin continues dropping, LTC will follow. and if bitcoin were to reverse and shoot up tomorrow, LTC will also reverse and shoot up tomorrow or maybe with 1 day delay tops.
|
|
|
|
|
bitcoin is BETTER for long term investment or maybe we can call it easier but it is not just for long term. you can trade it and make a good amount of profit daily, as day traders do. it depends on your strategy and most importantly depends on what you are most comfortable with. some people don't like day trading at all, but not liking or not being able to do it doesn't mean it can not be done.
and of course there is always the risk of this type of trading because of exchanges, some people don't like taking this type of risk.
|
|
|
|
|
this is not at all an annual thing. we have downtimes every year, that is true but we do not have long bear markets in bitcoin that often. they are somewhat rare and now we are starting to enter one of the longer bear markets and last year or the year before that we didn't have this type of bear market.
don't confuse the drops that happen and are usually corrections with a panic sell, or FUD dump, and things like that. they are very different from each other.
|
|
|
|
This dump is nothing other than a panic dump. $8k floor didn't hold up which means more panic. It's all psychological people. Once they break out of this loop, the price will recover to $10k.
I agree. but also I think at this point the drop is persisting because the trend has changed from all bull to all bear and with it the strategy of all traders has changed into bear mode. so with everyone expecting more drops and acting on it, the price continues dropping more without that much buy support. and this will continue until the trend changes to bull mode again. |
|
|
|
Pursuing I hope you understand that I am not saying some cities banning mining is related to lesser profits. I am just saying that options become less for miners. Say for example Iceland. Currently it is estimated that 50% of their electricity is consumed in Bitcoin mining. And that is a very big amount. What happens when the electricity demands for Bitcoin mining keeps increasing but the rate of generation of electricity does not match. Then those govts. are obviously forced to give much higher electricity bills to the miners. That's where the unprofitability part comes. Of course, long term miners can absorb losses in order to stay in the competition and hope for price increase in future to compensate for the losses. But that obviously introduces centralization. Not necessarily a bad thing, but not very comforting also. Especially when you learn that country wise Chinese and Russians will have upper hand in Bitcoin mining!
first of all Iceland is a tiny country in Europe which has 300K population! (No. 173 among195 countries) one small mining farm in their country obviously increases the electricity cost by a lot so does any other power consuming business that starts there! secondly it does NOT consume nearly that much electricity, there was a fear that because of cheaper electricity and growing interest in bitcoin and mining of it, there might be an increase in the consumption. and again you are thinking small (your example here is Iceland) then making a conclusion on big scale (talk about bitcoin miners in general). the power consumption for mining bitcoin in China is probably 10 times bigger than the total power consumption of Iceland already and they are find with it. |
|
|
|
|
these may have been part of the reasons why price has been falling and they may have actually contributed a lot to it but I doubt that they have been the reason for the drop itself.
I said this a long time ago when price was struggling to go below $10k for the first time. back then that was a huge buy support preventing any kind of drop but the constant dumping at that time created a huge sell pressure which that buy support could not handle. when it was broken and price went down to ~$5900 that was it for bitcoin, the buy support vanished and many stayed away from bitcoin. ever since then it was a constant market manipulation and dumping for short term profit and things won't come back to normal unless price reaches a strong bottom and the dumping stops.
|
|
|
|
|
it doesn't look like it though.
you can bring all the reasoning you want but the price is not bouncing back up and doesn't show any signs of recovery. some small come backs or recoveries doesn't mean price is going back to its real deserved place. it just means a temporary come back which won't last long. right now price is at $7600 and until it goes back up to at least $9500 and starts going above $10k I wouldn't call it a real "bounce back up".
|
|
|
|
If you follow those wallets, not the Whales themselves, the chance that you're a step late to Buy or Sell is High.
But still, you won't fall as a victim of their P&Ds.
first of all the wallets of whales are not known and a wise whale distributes his wealth among multiple addresses so that he doesn't become a target. and even if we assume by some chance you found their wallets and could follow, a transaction in or out of the wallet doesn't mean they bought or sold bitcoin. it may simply be a payment, or just moving funds to a new wallet/address, or to deposit on exchange to place a wall for example not dump. |
|
|
|
|
whenever bitcoin price goes down, mining it becomes less profitable the same way when price goes up mining becomes more profitable. but it has no relationship with countries allowing or not allowing bitcoin mining!!!
and you are forgetting that mining and the profitability of it is a dynamic thing. it will always remain profitable. when price drops miners who can't find the profit or don't believe in the long run, will leave and difficulty will drop so it becomes the same level of "profitable" as before. and it is similar to when price goes up and more miners start mining so difficulty goes up so that profitability comes down to previous levels.
|
|
|
|
|
this is not a wise move for anyone at this point because of a lot of difficulties that the employees will encounter.
the biggest one is going to be the price volatility. we are not yet at a point where prices are stable so that you can pay people with bitcoin as a currency.
the other one that comes to mind is that cryptocurrencies except bitcoin have no usages as a currency. for example if you get paid in an altcoin then you 100% have to sell it in order to be able to buy something like groceries or pay the bills. and as for bitcoin, it has usages as a currency but they are not that many options. for example you may find a way to buy groceries with bitcoin but you may end up paying higher fees (like using the bitcoin debit cards and paying their fees).
|
|
|
|
that is a cool website to get the price of another website, thanks for sharing. but unfortunately I don't think in this case it is that useful. because this site is using the traffic and unique views that websites get and things such as their alexa ranking to evaluate their price and the revenue, as in the views they get and the advertisement they put up. a gambling site is somewhat unique in that way and it only gains profit if people deposit and lose, a gambling site may have a lot of visits from millions of people but none of them make any deposits. |
|
|
|
In my opinion you will make more money by trading if you do it correctly.
this is also my conclusion after a couple of years of being around. the "know how to trade" is the biggest part of it though, it is not easy but it is possible to learn over time and then start making good amount of money from the swings, specially the altcoin pumps. but at the same time there is the issue with trusting exchanges. most people don't want to do that because they can run away at any moment, and each time an exchange scams a bunch of people, more traders go away or at least trade less. |
|
|
|
|
Show Posts
