nothing new really. price kept testing two prices: the resistance at $10500-$11000 and the support at $9500-$9000 and had to break one of these eventually to break the sideways. it happened to be the support and since it went below that mark, the "avalanche" started pushing the price way too low as it is the characteristics of a market with thin order books. According to technical analysis, the price of BTC will sure drop around $7000 soon.
actually TA showing between $9000 and $8800 as the bottom of that kind of drop nowhere near $7000
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Hash Rate is the number of hashes that are being calculated every second while mining bitcoin. the problem is that miners don't report how many hashes they calculate, we don't know how many miners there are, blocks don't store "h/s" anywhere, and we have no way of actually measuring it. what we can do is to come up with an estimation of the rate based on difficulty and the time it took to find certain number of blocks [1]. it is an "estimate" because the time between blocks is not fixed, it is random due to the chance-based nature of finding a hash that satisfies Proof-of-Work condition. and also difficulty is fixed until 2016 blocks are found. so when you do the calculation in a shorter period of time you sometimes end up with big ups and downs. another interesting thing is that if you do the calculation on your own and choose 2 random times as the day's start and end (like from 2:35 PM yesterday to 2:35 PM today) you end up with different values. in other words this chart: https://www.blockchain.com/charts/hash-rate?timespan=60daysthat is being advertised today as the cause of the "drop" is nonsense. if you want to look at a better hashrate estimation closer to reality look at this chart: https://www.blockchain.com/charts/hash-rate?timespan=60days&daysAverageString=14it is the average in 14 days which is teh difficulty adjustment period and since the time frame is bigger the error in the final calculated value is smaller hence the smoother chart instead of zig-zag-y one. of course there is always hashrate fluctuations as miners come and go and it is visible on this chart too but nothing drastic as they are spreading all over the internet today! [1] https://en.bitcoin.it/wiki/Difficulty#What_network_hash_rate_results_in_a_given_difficulty.3F
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I will get 10% ROI every day and at the end of the month I will receive the payout. He said the minimum deposit is 0.05 BTC.
do you even have to ask? think about these numbers a little bit and you will get your answer. if someone was capable of generating such a huge profit to give YOU 10% of it then why would then even need YOUR money? they could easily start with a small amount and turn it into millions in a short time. for example start from $1000 of his own and earn 10% on it HIMSELF and turn it into $17500 in one month. such person would NEVER need YOUR investment. which means he can't make shit, so he needs to fool others to hand him over their money to rob them.
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So how many people saw this coming? The ones that ignored standalone news in favour of seemingly solid charting technicals? Or the ones that knew Bakkt wasn't as anticipated as people wanted to say they would be?
I wonder how the Tom Lees feel like now. Cause if their followers were truly people waiting for the likes of Bakkt to come... well, it's here.
I'll tell you what happened: institutional money didn't wait. They went in a while back;)
@buwaytress I’ll be honest a while ago I was keenly awaiting Bakkts launch, as I believed it would propel bitcoin prices upwards but later on when I saw it was continuously being delayed I stopped focusing on it. I’m not surprised to see bitcoin prices have not reacted at all to it’s launch, however I do believe that in the long run it has the potential to power up bitcoin prices. that's the thing though, people are jumping to conclusion too fast about Bakkt. it is brand new and it was not supposed to bring waves of people in the first day of its launch although it was hyped up a lot. in my opinion the minimal things that happen with things like Bakkt is that they remove a lot of false information in the minds of everyone who has ever heard the name "bitcoin". for example how could it be "fraud" (according to JPMorgan) and still be used by a ton of legitimate places?! and that is the biggest achievement if you ask me, even bigger than bringing institutional investors!
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unless price goes below $9k levels and stays there for at least a full day, you can't really call it "price is down" because so far this price is the same price that we have been seeing every time there is a dip after the rise. that is why this period is known as "sideways", price goes up to $10.5k and down to $9.5k and back up again to repeat it.
but you are right about one thing, the Bakkt news is causing a sell off instead and i believe it is mostly out of fear nothing else. fear of traders expecting the drop and wanting to act before it but the drop they were expecting never happened.
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that is just another wave of altcoin shitcoin panic dump as the old remaining bag holders are giving up their worthless bags and try to flee to their fiat. unfortunately they are fleeing through bitcoin and as they dump Shitcion > bitcoin > fiat the bitcoin price becomes strained. meanwhile people like you who continue bag holding lose money on their altcoins and the rest of us take this opportunity to buy more bitcoin because before you know it just like when price shoot up from $3k to $10k we will see another shoot up from $9k to $20k now go put your head back in the sand you'll be coming back when it is too late again and again and again.
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HOW IT MUST LOOK LIKE
faceless! because that is how the real Satoshi Nakamoto looks like, a pseudonym with no face. that is why this name was chosen instead of anything else. and that is why Satoshi went away instead of sticking around. he is anonymous and putting a face to an anonymous identity sounds a bit weird to me to be honest.
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at the end of the day unless you have an actual algorithm to propose and argue about merits of that mining algorithm and convince the rest of the network that the benefits are more than the dangers of a hard fork, there is no point talking about hypothetical algorithms that might be better! so far we had thousands of altcoins with dozens of mining algorithms. i still don't see anything that doesn't have more flaws than what bitcoin uses.
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all of these topics that keep popping up these days advising newbies about trading are good but in my opinion if we consider success to be 100%, then these theoretical discussions are only contributing to 0.01% of it! the remaining 99.99% is all about the experience and without it, nobody can make a satoshi in profit.
another thing that is always missing is the first step! everyone always talks about what comes next, but nobody ever talks about the first step about making plans and making good decisions. as in what to buy, when to buy, and more importantly when to sell. the common theme with these topics is also usually about "have patience" as if you should just buy anything then bag hold patiently waiting for the price to go up!
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Because I as wandering why other people think of bitcoin as a gold that it's value would rise even highier. I was reading the predictions of Big people that think it would be profitable to invest in it for the next five years.
people who are so vocal about predicting price are two groups in my opinion. the first are those who think of bitcoin as a cash cow that is giving their fiat a lot of profit over night and wish for it to make them millionaires. and others are opportunists who have started some sort of business (like an investment firm) and want more greedy newbies in the space so their business can thrive. your examples are from the latter group. why do i think bitcoin will go up in value? because the "value" of bitcoin is a lot higher than this considering its uniqueness and all the things that it offers. on top of that, with limited supply it is almost guaranteed to go up since we already have the increasing demand.
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usually whenever people get their posts deleted the first thing they think of was that the deletion was unjust instead of thinking about what they did wrong and trying not to repeat it.
tell your "friend" to show you the deleted posts, or simply go through his history. you, as someone who has been around since Feb 2017 should be able to tell if he is spamming or not!
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I will never dump a lot of coins into wallets like this, because it is not a service that is meant for long-term storage of loads of coins. It is a nice wallet to use, if you buy something online once in a while and you want quick access to some coins. electrum is not a service, it is more like a user friendly interface that allows you to communicate with the bitcoin network and only download what you need instead of everything. and if you are to think that way and reject any wallet software that had bugs then you should not even use bitcoin because every single software that has ever been written for bitcoin had and still has bugs in them!
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If you repeatedly visit the same address on a block explorer, it becomes pretty obvious to anyone watching you that you own that address, even if your wallet is offline/airgapped/paper/etc.
you forgot about the block explorers themselves keeping a record of which addresses the users keep checking. it could be done with using cookies and recording IP addresses and building a database to link different addresses to same person.
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is this a side-chain that is pegged to bitcoin like other projects that existed before like RSK for example?
or is it a stand alone blockchain/cryptocurrency that only has the option to pegg it to bitcoin? if it is this type, then could you explain how it works because i couldn't figure it out and it sounds interesting.
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the whole article looks like a very vague advertisement of a service and it seems to me like they were paid to publish this! and to be honest it all seems like over-usage of buzzwords and technobabble to make it look "special" while it looks like (at least to me) that it is what any other hardware wallet does: a "unidirectional connection" where it signs transactions internally then broadcasts the signed result online!
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all true, but also most of these points have been true all along. for example adoption has been increasing all this year like last year even though price wasn't to most people's likings.
as for $20k this year, i highly doubt it because reaching the previous ATH is always challenging due to the bigger than normal resistance that shapes up near that point. you can compare it with $1200 in 2017 which was the previous ATH of that time. it took a long time to get close to it and break it down.
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The sad part about this is that, Doc was right on his first one,
umm! no he wasn't! there is a big difference between re-testing the same buy support line and bouncing back up immediately after testing it. and to break that buy support and go below it. what OP was "predicting" was the second one but the first thing happened. so no, he was horribly wrong about that.
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I am a developer looking for a project to build an exchange.
Bro, please have pity on us. 1,000,001st exchange... team can be built, if you have bucks, as stated above. Too many ideas nowadays, to be a dreamer and work for future dividends. show me at least one exchange that is good and could be trusted by traders! there are none. all we have is poor security shady exchanges that get hacked every day in best case scenario, worst case is they scam us themselves. my point is, just because we have a million exchanges it doesn't mean we don't need them anymore. as long as the idea is new that solves the already existing issues i would be interested in using it.
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What in the wild hell gave you the idea that the US banned crypto? That's the craziest thing I've heard, our government has come out and said they are working with exchanges to make sure that they limit illegal use but that just shows they're seeing this as a here to stay thing. most probably it is like everything else and the reason is simple: FUD. throughout the past couple of weeks that they have been trying to manipulate the price and were trying so hard to push it below $10k once again, all kinds of crazy things were being heard all over the internet about bitcoin. US banning bitcoin FUD is not surprising really!
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