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it depends on what kind of regulations we are talking about. it is not always bad and it is not always good either.
for example the regulations that Japanese government put in place helped bitcoin grow to what you see today. they made it not only legal to use bitcoin for payments but also made it easy for anyone to do it. and on top of that they removed taxes on bitcoin payments.
other countries are also following this more or less. and those that do will help increase bitcoin's adoption. those that go other ways may not.
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everyone who knows anything owns at least some small amount of bitcoin. the big bankers, the big millionaires and all the financial experts have already invested in bitcoin, because these guys see the potential that regular people don't see or even if they see it they become so skeptical about it.
when regular people listen to what others say and act on it, the successful people make their own decisions and act on it and most times they tell others the exact opposite of what they have done and eventually it becomes clear what they really did after years.
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It seems that the most profitable arbitrage that you can do at the moment is with Ethereum, not bitcoin.
And do not try to do arbitrage with BTC because the fees are going to eat all your profit.
fees are a fixed amount for bitcoin or anything else when you withdraw from an exchange. for example it used to be 0.002 if I am not mistaken in bittrex before they started becoming a scam service. Ethereum is at $730 on bittrex - $680 on Poloniex.
according to coinmarketcao.com both exchanges are at $684.77 and I think you checked the price in ETH/BTC from one exchange with ETH/USDT from the other exchange, that is why you saw the difference. |
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I am mostly affected by the high bitcoin price rather than the fees. the high price meant for me to gamble less and less because I have the fear of losing in gambling  but whenever I do make a deposit in a gambling site to gamble I pay a lower fee since I am in no rush for it to confirm so that I can play and these past days that fees were huge I never made any kind of transaction whatsoever to prevent the headache of being stuck. as for SegWit it is a very good idea. a lot of transaction on bitcoin blockchain belong to these gambling site, if we can get most of them to implement SegWit then things will improve a lot. I am going to send some Emails right now to places where I use. |
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I doubt the recovery back to $19000 can be that quick! within only 24-48 hours!
and it usually is not that quick either. it takes some time and at least a couple of days of downtime when whales accumulate more, the FUD fades away and panic stops. all this takes time.
for example if you check last time price dropped this much, you can see it took about 3 days to come back up to normal level and the it was followed by about a 7 day accumulation where price didn't move much and then it shoot up to the new ATH.
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Yeah there is a problem with bitcoin, but the reason for 250k+ uncorfirmed transaction is because bitcoin cash is attacking bitcoin. Bitcoin Cash is pumping, so all miners left bitcoin and went to bitcoin cash for more profit. There is a rumor too, that bitmain is spamming bitcoin network with a lot of tiny transaction. Well, just wait, everything will come back to normal with next difficulty ajustment, maybe within 11 days: https://bitcoinwisdom.com/bitcoin/difficultyI don't think this time, this miner switching shenanigan was the reason for the huge backlog. it definitely made things a lot worse though. but the difficulty has changed for bitcoin cash and it has a higher difficulty now which makes it harder to profit for miners and I also believe they removed the Emergency Adjustment from it which changed things quite a bit on that front. this big backlog is a combination of price drop, spam attack, fewer blocks being found and increased adoption. |
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The risk is that way too many people are now using bitcoin and the transactions they generate are clogging the network, making fees and confirmation times skyrocket. The result is that people might move on to another BTC contender like bitcoin cash, which is rising currently. This will greatly devaluate btc.
it is not a risk, at least not a long term risk. because even if they do switch to another alternative cryptocurrency such as bitcoin cash, in the end they all will end up in the same place as bitcoin. it may take a longer time before bitcoin cash reaches the same amount of usage that bitcoin has and has full blocks but it eventually will get there and when it does the same congestion and high fees will be the result of it. and the dump the said altocin will experience will be so much harder because it is an altcoin. |
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Does anyone here have a trading strategy where they look at functionality or the development team behind the coin?
I actually used to do that. I used to checked the projects and look for interesting features and functionality in the coins but at the same time I kept seeing all the shitcoins around me getting pumped and everyone making a lot of profit from those while I though the coin that has actual promise can go up. and it never did! that is why I gave up that strategy, I still check the projects but just because I am interested in the technology but never as my trading strategy. now for trading strategy I just check for pumping potential and see if there is anything on the news that can lead to a big altcoin pump and then I invest in those coins only. it has also been helpful to me to watch the market and the movements in it. with watching factors such as price (obviously) and volume that goes into each coin. sometimes it helps a lot. |
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The Bitcoin touched new max, the news about CBOE Futures - is Fact now. There is no new information about Tether huge cap. And loooks like double top on Bitcoin chart is drawing now.
My opinion is that correction will be achieved in the range 8-12 and then big daddys will open new long position with target 25-28 before new year.
What you say?
BTC
I disagree with your title, but agree mostly with the rest of what you said. it is not really long awaited. we have had lots of corrections each time a rise happens. they are pretty common and they do occur. and most of the times they are indeed huge corrections of 20$ to 30% with a lot of volume going around in the market. as for the drop, it is a different sort of correction this time because in addition to all the usual things that cause the drop, there is the ridiculously high transaction fees that bitcoin currently has. that never leads to anything good. and it can practically intensify the panic sell. |
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the same reason they always freak out and price is going down because they always freak out and also because everyone who has ever traded bitcoin already knows this so they dump before the weak hands to buy from them at the very bottom and then laugh at their faces.  it is the same patters almost every months and always after a major rise. price goes up a lot then it starts a correction course. the FUD begins, people panic and dump. price drops a little more than 30% and then recovers back up. now the question is, is this the same as before? I don't see any indication of why it shouldn't be. |
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first I want to say this (because I think many people that feel bad will read this as well) :
the first thing you should have done was to explain why did you even share this publicly? why should you announce what you did with your money to the rest of the world?  Then you google and google and wonder....WHY? Why did it go up a lot. Why did it go down a lot.
you need to know what to look for, and it is not always found on the internet! it is not like someone is sitting there publishing the reason for every single bitcoin movement on the internet so that you can read it. it is simple market dynamics. the adoption is growing so more money is being invested in bitcoin. as a result price goes higher. but (just like any other market) whenever price goes up it needs to come down as traders sell to take out their profit, and in bitcoin because it is small and full of newbies who listen to FUD, the corrections usually become bigger than normal. |
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it is not a bad idea to sell whenever you see a drop is starting up. and if you could have caught the drop before it became big, meaning back when price was still above $15,000 then it was a good time to sell. right now it is starting to become too late to sell but it is still not at that point.
in any case you have to make up your mind when investing in bitcoin. you are either a long term investor and will hold it and make profit even when price drops like this temporarily and small. or you want to be a trader, in which case you use these short dips to make even more profit on your bitcoins.
ps: we are close to the "magic number" which is 30% drop.
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introducing 'futures trading' which allows major sellers to cover losses when they sell billions of dollars of BTC.
at least educate yourself before spreading FUD. the futures trading is currently disabled because according to their rules if bitcoin price is changed more than 7% they will immediately disable all trading and the market. |
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~~ ANNOUNCEMENT ~~ Friends, it's true...starting Sunday, December 24th GMT we will be instituting a 3,000 satoshi fee for each auto-withdrawal. We need to do this to offset the cost of increasing Bitcoin transaction fees. I know this may come as a disappointment for some of you, but we'll have some more exciting news at the start of the New Year! If you have any questions or issues with your account please PM me. My alternative suggestion for this withdrawal fee. Anyway, I never withdraw any money from this site because I claim few times to get few lottery tickets. For those people who really trying to withdraw coins from this site even though your charging very small fee amount but for those guys takes a lot of time to earn that fee amount. So you can consider allowing them to withdraw the amount in some other altcoins so that those guys can save some transaction fee amount. this will introduce a lot of issues. altcoins prices are pretty volatile so they either have to have that altcoin already which means they have to invest their money in that altcoin and lose money if it goes down. and pay people based on the current market rate. which means implementing a new system for withdrawals and lots of security audits. or they have to do the exchange on the fly as people make withdrawal claims. for example using something like ShapeShift. but that will require additional fees for exchanging bitcoin to those altcoins and for those who want to withdraw a small amount and are worried about 3000 satoshi, that fee will also not be acceptable. |
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in other words bitcoin price has gone up 100% in the past months and still has not gone back to even near the price where it was back in exactly 1 month ago on 21 November 2017. the price then was $8200 and not it is worth more than $16,000 Anyone suggests me this is Right time for Investment or Not?
I would wait a little longer but still watch the price closely. make your decisions about where and how to buy now and do the verifications and even deposit money. the watching is because it may drop more. but also it is because it may end soon and start rising up, in both cases it is best to watch out. |
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confusions like this are caused by what I call "Altcoins sales pitch". if you check out the way most of these altcoins are being advertised, either officially on their website, white paper, ... or by their supporters and bag holders who want to get a quick profit, you can see that they all use bitcoin scaling as their main difference and claim they have "solved it".
the thing about scaling is that you can not solve it. you just improve it step by step and it never gets solved.
the other thing about these altcoins is what I have seen so far is that they either improve the scaling by a little bit which doesn't really make any difference or they think they have improved it but in fact they have introduced a lot of new issues.
as someone pointed out above, having a decentralized trustless payment system is not an easy thing that you can just change what you think is the reason (eg block size) and think you have solved the issue.
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first of all please stop reporting your fees in terms of USD (fiat in general) or even in bitcoin. the correct unit to report fees is amount per size. you can choose any number of them like satoshi/byte or satoshi/kilobyte or....
since you shared you transaction ID we can see it is 223 sat/B.
now to answer your question, sadly because the scaling solution that we adopted for bitcoin is not being used (practically no one is using SegWit) the capacity didn't increase. additionally we don't yet have any second layer solutions such as Lightning Network since it is not ready.
and finally the block size increase was also rejected (the SegWit2x solution) which is why we are in this mess right now.
unfortunately there is nothing you can do except either paying higher and higher fees or not making any transactions for a while.
ps. don't fall for the bitcoin cash bullshit. it has the same exact problem. but it is dormant because nobody uses it yet.
Thank you, Is SegWit2x coming on the 28th December http://www.newsbtc.com/2017/12/19/segwit2x-old-new-bitcoin-hard-fork/For now do you reckon the fee of 223 sats will confirm ? Should I increase this even more no that is not SegWit2x, that is an imposter project using the same name. if you check the specification of it, they are creating something very different! - changed the algorithm to X11 - changed block times to 2.5 minute - changed address format. and worst thing is that their launch is in 7 days from now and there still is no source code available for the project to be reviewed and tested. if you look at the links at the bottom of their website, they are all "social media" links such as forums, instagram, twitter, facebook,... all used for advertising it. and no source code!!! as for your fee, based on this site: https://bitcoinfees.earn.com/ you should increase it to 900 satoshi/byte if you want a fast confirmation. obviously that is ridiculously high! you can use one of the transaction accelerators like https://pool.viabtc.com/tools/txaccelerator/ instead but they are also overcrowded. |
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first of all please stop reporting your fees in terms of USD (fiat in general) or even in bitcoin. the correct unit to report fees is amount per size. you can choose any number of them like satoshi/byte or satoshi/kilobyte or....
since you shared you transaction ID we can see it is 223 sat/B.
now to answer your question, sadly because the scaling solution that we adopted for bitcoin is not being used (practically no one is using SegWit) the capacity didn't increase. additionally we don't yet have any second layer solutions such as Lightning Network since it is not ready.
and finally the block size increase was also rejected (the SegWit2x solution) which is why we are in this mess right now.
unfortunately there is nothing you can do except either paying higher and higher fees or not making any transactions for a while.
ps. don't fall for the bitcoin cash bullshit. it has the same exact problem. but it is dormant because nobody uses it yet.
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big exchanges like poloniex will not waste their server resources to support random useless forks which will only have some temporary volume increase and then disappear into darkness!
they are only interested in high volume coins which they can benefit from when people trade. their profit comes from a percentage of that volume (the trading fees to be exact).
additionally these new forks are so cheap in some cases that it is not worth bothering to even claim them. not to mention their software is broken and incomplete so the exchanges can not even support the wallet yet!
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I was actually having a discussion with someone a couple of days ago about this. and I see most people are having trouble with the "we can't afford to buy a whole bitcoin anymore" thing! which is weird because bitcoin is divisible and there are already other things like gold which are pretty similar!
but also I have found out that most people also have trouble with these smaller scales. they don't know what "m", "u",... mean. so when telling them 1 mBTC they may not understand what it really means.
so using smaller units like this will solve the first issue and make things much easier. and as you said it will remove psychological barriers that people love to place for themselves. right now 1 mBTC is about 18-19 dollars which is much simpler to talk about. if we get over the second issue it will be better though.
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