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1201  Economy / Economics / Re: is it a bubble? on: January 31, 2018, 10:28:48 AM
many people say that bitcoin bubble, honestly I still do not understand what is meant by the term bubble earlier?

until now I am still curious

Bubble is a situation where the of value of a coins increase without a serious course or unusual increase the value or price of coins. And the term is mostly use by market speculators.
If you have noticed, in last December month, bitcoin prices were rapidly increasing from $10k levels to ~$20k price levels. We may call it as a bubble because the nature of price movement  and it was not based on any news nor events basically. When traders and investors are trying to catch possible lower prices before it will be gone, the bubble kind of situation in market is appearing. We cannot blame anyone other than market sentiment because traders are the only reason for the bubbles to happen.

At the same time we cannot ignore the importance of bubble in market because it is the only way people will realize the real potential of one commodity because people start realizing like even that much higher prices will be possible for one commodity only after a bubble happened.
1202  Economy / Economics / Re: Fast Forward Time with Bitcoin thought experiment question on: January 31, 2018, 08:44:24 AM
Banks will still exist - because their main function is to provide lending (mortgages, loans, credit card advances).
Why not we can develop such lending business purely based on bitcoin payment system ? Because banks are using fiats as a momentary units whereas we can easily replace those momentary system with bitcoins. So, the main purpose of banks can be served by adopting bitcoins too.

Maybe they will innovate and start lending cryptocurrency instead. But they will still be lending...
If banks are here only for the purpose of providing loan, then I believe there will be no point of expecting banks to exist against the revolution of bitcoins. Because, bitcoin is capable of providing all the purpose of what we are enjoying with fists.
1203  Economy / Economics / Re: Money Is Political, Not Technical on: January 31, 2018, 08:05:05 AM
And it's important that people are continually reminded about this. Bitcoin was extremely ideological and governments and the traditional financial system at least can be credited for recognising it as a political threat.

Yes, the underlying blockchain infrastructure is a brilliant piece of technology - but it was simply the means to deploying the idea.

The latter may be gaining more recognition than the former, though arguably, the majority of Bitcoin users can't see past the market to appreciate either.
Maybe bitcoin is the first technical based money still it can be serving the purpose of what other political money can do. I mean to say unlike how traditional money is being printed, bitcoin is here with some reason and it is being mined and reward to who deserves it. The idea and technology behind bitcoin will be ensuring it can be a replacement for any traditional momentary system.

There are many economists that consider FIAT as a illusion created by govt. They consider GOLD or SILVER as the standard financial instrument.
They are all must be right. Because, for the easiness of transacting governments discovered fiats which is actually do not have any value before governments printing them. Bitcoin could be a replacement for gold and silver because we need a monetary system which also supports electronic money movements.
1204  Economy / Economics / Re: Know Your Customer on: January 31, 2018, 07:35:58 AM
For exchanges, ICOs that collect KYC information, when are they required to send information to the government.

If I remember correctly, in the US if you make a money transaction, such as through Western Union, or bank, $3,000+, within the same day, or smaller amounts during consecutive days, the institution must collect your ID information and Social Security and report it to the government. I forget which entity of the government.

Does that mean that if one participates in an ICO and puts in over $3,000, that gets reported to the government? Or if you move $3,000 out of an exchange, that gets reported?
Obviously when you will be transacting very big amount then probably you will be noted by government officials in order to prevent money laundering and for preventing black economy reasons. It is highly recommended not to transact through bank or in more particular not through fiats. Because, tracing you down for high amount transactions will be easier for any government with the respect to currently available security measurements.

When investing into crypto currency or ICO, it is always suggested keep your transactions within only cryptos. Beginning with crypto currency, must be started with buying bitcoins by finding your local seller and transacting with him in fiats.
1205  Economy / Trading Discussion / Re: Trading strategies on: January 31, 2018, 06:57:43 AM
Does anyone here have a trading strategy where they look at functionality or the development team behind the coin?
Actually the coin varies in the price due to the demand and supply. As the demand increases, the price for the coin goes up due to the limited supply. But also due to the function and development team the price for the coin may vary and we can setup a perfect strategy to trade with that coin with some good knowledge about that coin.

The best trading strategy i use is much common. I just try to study the graph and try to calculate the supply of the coin in past some days and it helps me to understand a proper dip where i should invest in. Trading is actually much interesting and can also give us heavy profits in return if we use it is a approximate manner.
1206  Economy / Trading Discussion / Re: Why is bitcoin price so stable in 2018? on: January 31, 2018, 06:01:04 AM
There were a lot of FUD, impacting news, etc at the starting of this year which usually gave us the price which is more stable then the previous years. I guess, the price for bitcoins will again turn back to normal once everything is back to normal. Also most of the peoples have sold their coins in panic at the starting of the year as they came under the FUD that bitcoins will be banned soon, or they will run away or anything else. Also the government is trying to ban this decentralized currency which is usually causing the high flow of their centralized currency into the decentralized currency which does not give them the ability to track and apply taxation to that amount of funds stored in bitcoins.
1207  Economy / Trading Discussion / Re: How do you trade? on: January 31, 2018, 05:29:06 AM
Ofcourse im still following the buy low sell high on most of my trades and sometimes instinct is a big help for me to predict what will be the price of a coin.
I guess, each investor here follows the same thing yet and will do in the future. Trading can be explained as buy low and sell high and it won't change that easily as the profits we all traders have is by selling at a good price. These days the market news is much effective for me as it surely matters into a price change and peoples do sell their coins in panic.

Panic sell costs a huge loss and holding our coins until the panic sell can be much beneficial. Also I do purchase more and more coins at a good dip as some or the other day the price for bitcoins and each other profitable altcoin is going to rock the market giving good profits in return. Investing in small amounts at each good dip is good and profitable for me.
1208  Economy / Marketplace / Re: Why I think the crypto market will be worth about $6 trillion by 2019 on: January 30, 2018, 06:54:08 PM
We need this modern digital money in life that's why the price will be high in the future because the knowledge about it is we need and we can earn also at the same time so this will be popular all around the world in the future.
Seriously, we expect that to happen in just these few months. We are all eyeing on wall street big boys who may bring some big money into Bitcoin. I do believe that bitcoin will reach high rate and a high level that too on very soon. All we need right now must be, bitcoin needs to break $20k price levels after that we can see the entire crypto world will be testing some unbelievable market cap like in trillions. There are almost 23 more months for 2019 to be completed. I guess this will be plenty of time in which we can expect even 10 trillion dollars market cap too.
1209  Economy / Economics / Re: "Switzerland wants to be a crypto nation" Economic minister. on: January 30, 2018, 05:29:28 PM
Sometimes back, I did read that Switzerland railway ticket counters are going to sell bitcoin. But never heard anything after that. But in between time Japan declared bitcoin as a legal payment system. So, there will be no significant impact we can expect what an economic Minister is considering compared to what their government will be declaring about crypto currencies.

I mean to say instead of giving some signal about crypto currency adoption like these, why not they just come out with a clear regulation about crypto currencies because that alone will be giving significant impact to crypto currency industry and also for a better economy growth for their country.
1210  Alternate cryptocurrencies / Altcoin Discussion / Re: How would we know which cryptocurrency would be Scam? on: January 30, 2018, 04:51:49 PM
nobody know early altcoin project will be successfully or being an scam altcoin but you can minimize the risk with do some research regarding upcoming altcoin project but it will not ensure you will get decent answers however you can check the feedback from this forum to determine the particular coin will scam or not and i think many people are willing to answers it
Detecting early will become possible only if a crypto currency is coming from a known team of scammers. Other than that there would be no significant methods to find out which coin will be successful and which one may go scam. That is the reason many people are afraid to invest with new projects.

But, when a new project is coming up with strong concepts and backed with a good team then we can freely go for investing with them. Still, anything may change over the course of time so we need to invest only what we can afford on the event of losing.

I do always ask for the opinion from my group of friends. Only based on their suggestion I do choose ICOs. So far, they are all good with their predictions which helped me making some decent returns out of my investments.
1211  Economy / Marketplace / Re: Have you ever bought a product with Bitcoin and what do you want to buy? on: January 30, 2018, 03:25:05 PM
So far I have used bitcoins to buy air time for my mobile phones. In my country we do not have any other merchants for accepting direct bitcoin payments. Like most of the people here I am also very much interested to buy my daily needs for bitcoin payments so that I will be saving a lot of money because I am converting bitcoin for my local fiats which has lot of hassles and fees. Additionally I am having bitcoin debit card but due to its high fees I am afraid to use it. But, when bitcoin will be having huge value, I may start using it for my daily needs.
1212  Economy / Marketplace / Re: The most stable coin" USDT" ,have the possibility of collapse?? on: January 30, 2018, 02:26:32 PM
The most stable coin ,have the possibility of collapse?

This question Troubled me for long time,Thanks for answer Smiley
First you must understand the differences between other coins and USDT. Unlike any other coins, USDT was not designed to have value based on supply and demand. It was created as replica of USD. So it will be having all the times same value which was fixed at one dollars for one coin. So, it seems most stable coin to you until you understand the idea behind this coin.

Like any other coin, USDT also is subject to any collapse. If bitcoin prices will be increasing then you will be needing more USDT to buy one full bitcoin similarly if bitcoin prices are falling then you will be needing less number of USDT to buy one full bitcoin. Hope you can get my point and you will be using USDT for what purpose it is with us.
1213  Economy / Marketplace / Re: Hacking is the Big Problem on: January 30, 2018, 01:56:39 PM
This is a really big issue when it comes to online currencies. Every process is a risks and online hacking is not easily tracked even by the government. You must be careful on what you're going to do online especially when filing information online and even downloading stuffs. Anyone you can be possibly monitored and can be used for hackings.
I don't think it is not a big problem because we have to use exchange wallets only to store small amount of funds,if we use huge amounts there then it is going to be a big problem.The exchange wallets are really not safe hacking is possibility so we need to keep our funds in wallet with private key access.Traders need to be very careful because they are going to be affected by the hacking.
Now that hacking makes another panic situation around the investors now again the prices are falling.Hoping to see a positive price movement soon.
Yes, problem for the traders who are all making use of the exchanges at its purposes. Hacking will be a very big problem for those who are all using exchanges as their wallets. In the past we have had so many exchange hacks incidents and if we do not learn any lesson from them then there will be no meaning of actively engaging in discussions with this forum.

I remember there was one long discussion about how to avoid exchange hacking problems and from there I have learned many tips on effectively making use of exchanges.
1214  Bitcoin / Bitcoin Discussion / Re: Is it wise to hold Bitcoin for a long time or sell to meet a need of life? on: January 30, 2018, 12:55:54 PM
Cryptocurrency is a volatile asset. We don't even know how much time cryptocurrencies will live. In such conditions it is possible to make long-term investments? The best option is for me to earn money now. If you can earn more money than you need now you can store in different currencies. I do not rule out that part of the savings can be kept in bitcoin but only that part which you are not afraid to lose. To rely on this part I do not recommend.
Yes, volatile but not getting struck within some range. If you notice, in long periods most cryptos are getting appreciated in their value. So, holding bitcoin kind of highly established crypto coins definitely fetch big advantage than just working for cryptos and selling them for our daily needs.

Because, crypto currencies are still in their early phase. To gain attraction from all the people around the world, it is still having investment property. We must make use of them. So, holding is highly recommended for those who are all want to make some easy money still there will be many risks are associated with it.
1215  Economy / Speculation / Re: Why I love this Bitcoin crash on: January 30, 2018, 12:10:34 PM
The best part for me about this crash is that all these dumb noob idiots who have been obsessing about the price, thinking they are geniuses can finally shut up. They will finally see how idiotic they have been. I hope they lost all they money.
No, they will not have lost their money as holding must be the option for most of the traders who are all actively trading bitcoins. I believe they will recover their capital just by holding bitcoin as bitcoin is highly speculated to have $100k prices in coming months. So, there will be no point of worrying for recent corrections for them.

Unlike you, many other people are loving bitcoin crash because they are getting another opportunity to buy bitcoins for cheaper prices. But you are sounding aggressive to me because you are targeting about the capability of people who are risking their capital to buy bitcoin at higher price levels.

They can be right or not at situations but we cannot blame them for rise of bitcoin prices. Because they are the actual market movers and we should appreciate their hard work for making bitcoin prices into these heights.
1216  Bitcoin / Bitcoin Discussion / Re: If a friend ows you 0.1 Btc from Dec 2016 ... on: January 30, 2018, 10:09:15 AM
I am always following 2 types of dealing : 1. USD value based 2. Fixed BTC amount based. So, there will be no problem for me to  get paid or to pay any loan or pending amounts. It is mandatory to clear terms well in advance how are dealing after getting into cryptos. I am running few freelancing jobs and I have different payment terms.

If the case of bitcoin was falling down from $20k to $10k from 2017 December to January 2018. What a person can do if he owes 0.1 BTC from those times. So, how the initial terms agreed is more important for repayments.
1217  Economy / Gambling discussion / Re: Why do you play for fun using real money? on: January 30, 2018, 09:06:51 AM
It is really a very impressive question that push us to ask our self why do we play for fun while we are using real money ? This should be discussed deeply because it seems like we are throwing our money from the window of gambling while we need to use it in a better way.
It is being discussed here and a lot of people have said that they are just doing it for fun and it doesn't matter if they use money instead just normal fun. If you have tried to do something in partly the same in real life then it should be with friends because it's fun to play with friends. It doesn't matter if you use your money or what, as long as you know what you are doing with it.
It's really matter to use the real money I think to feel the real pleasure in gambling, as when you use a play money no pressure on you to make your bets win , the thing make certain games are so fun due it's pressure to avoid the losses and when you waiting the outcome.
If entire gambling industry is working in your way then probably no one is gambling for finding the entertainment. Because, as per your statement, when you are targeting making real money from gambling, you are getting the actual pleasure you are looking for. It means if you do not use your real money then you will not care about the ups and downs oscillation of your money while playing.

After your opinion that I understand that no one in this world is trying gambling for finding entertainment. They are all gambling for finding easy money. In the process of finding that easy money they are getting some entertainment as a byproduct.

If entertainment from gambling is just a byproduct then probably all the gamblers who are declaring themselves as they are gambling only for entertainment, must be lying.
1218  Economy / Gambling discussion / Re: Best Gambling Movie on: January 30, 2018, 07:48:20 AM
Last week it happened to watch the movie hangover (part-1). In near climax, that comedian is trying to play blackjack for earning $80k and surprisingly I was successful with his attempts as he was studying some books for tips and tricks for blackjack games. I am not an expert with any of card games but I believe there could be lots of possibilities to make good results with such kind of games. Here, I wish to share if we choose right games and right approaches then we can easily win.
1219  Economy / Gambling discussion / Re: Will we ever see players transfer paid with bitcoin ??! on: January 30, 2018, 07:15:02 AM
It is possible in the future but it will always depend on two things which is first the club owner and of course the legality of Bitcoin where the club is situated in. If the two requisites are all good then there will be no problem for a club paying in Bitcoin for the transfer fee of the player. I don't see any wrong with this as even car sellers are now accepting cryptocurrencies outside of Bitcoin which is really a good sign as many businesses are seeing what opportunity cryptocurrencies are giving to us. We can also say that these businesses are not afraid of the volatility as they can handle it on their own.
I wonder why it is not already happening in the sports world as they are would have been many big shots are already using bitcoins for many reasons and then they are approaching any player for paying them with the bitcoin payments along with explaining what are the advantages they will be having by accepting bitcoin payments.

Because sports industry is a multi trillion industry and players are being signed for millions. The recent IPL auction is a good example. When players are considering about paying multi-tier taxes then definitely they will prefer to go for crypto based payments for sure.
1220  Economy / Gambling discussion / Re: Why do you care? on: January 30, 2018, 06:40:33 AM
Casinos are never fair and this is a reality that all the gamblers are aware of. House always has an edge over the player. Earning money in fair way cannot give big amounts. From the very first time, casino is always trying to snatch the money of the gambler but in order to accomplish this, it first needs to turn the customer into a regular one. This is the reason why in the beginning a gambler wins games back to back but starts losing eventually.
If you are able send and receive money with a gambling house then you can probably need to consider that gambling house is a fair one. Because, we cannot interfere their business model and we need to agree whatever terms and conditions that they are having to play with them. Only with deposit and withdrawal functionality we can interfere with them to conclude about their fairness.

House edge is a business model, we cannot complain about it because no business in this world is there without having possibility of making profit. House edge is a business tool for them to ensure they are making some money for running and surviving with their business.
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