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Boring? Bitcoin will never be boring at whatever price it goes. If it goes down to $100, there is FUD and drama. If it goes up to $10,000, there will be "moon memes" and more drama. There is also always something going on. The search for Satoshi that gave us the Dorian Nakamoto and his free lunch humor. The scaling debate, more drama there. There is also Craig Wright! The list goes on and on.
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At present they're just buying IOU's so it makes sense that they won't be inclined to pay what you do on functioning exchanges. CNY is a precious commodity on there because you can get it out.
Actually it is something like that. What then is stopping a Chinese exchange from bloating their reserves of Bitcoins in their ledgers? What is also the use of trading with them if I cannot withdraw and use Bitcoin if I want to? They have now become a platform to speculate on the price and not as an exchange that facilitates real trade. |
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i think after 20 years we will will not care much about BTC! since we all will be real rish if we hold some BTC!
i think our kids will care about crypto that time.
Yeah about that time we are old enough to think about it, 20 years is so long and many things can happen in crypto world. every year is a good progress for btc since the year it was launch and i know that it will continue to grow each year. yes 20 years is a long time to speculate but i think after 20 years bitcoin will be more and more popular because people are accepting bitcoin and the number of bitcoin users are increasing and so the use of bitcoin is also increasing. Your post shows the lack awareness you have on what is going on with Bitcoin. Most of you here keep saying "Yes yes yes" like it was really easy. How can you say that Bitcoin use will increase in the future? The blocks are full, the network cannot scale and politics and greed are delaying the needed upgrades to house more transactions per block. |
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If I was open to ICOs, which I am not, I might prefer an ICO that is backed by legit people in the Bitcoin industry. People like Barry Silbert or someone who has been a known Bitcoin investor. If Roger Ver started an ICO I would surely line up to participate to get some coins.
The Chronobank project you mentioned is not something I have in mind. It has to be something bigger.
The chronobank project is something I won't give a serious thought because I just begin to wonder if the ICO will even end for months now, I have been seeing their advert on all social media platforms. The conditions set out by Bitsane is actually good to guide against their reputation and to not be labelled as a dumping ground because that's what developers will want to get an exchange site to boost their status and then dump... It's actually ended up today and still I don't know if they will become successful. They really did a lot of advertising and recovered thousands of bitcoin with their collection. But however I wanted to see if Chronobank will be listed in bitsane. However they are still not listing new coins on their site. I hope they will consider some of it because many prefer to have a lot of good alt coins to trade. How much Bitcoins did the Chronobank project get? The last time I looked around the forum it was I think $4m. That is really good considering the developers are unknown and the backers are also unknown. Think about an ICO that is backed by known people and a good team behind it. It can get more. Possibly 3 times of what Chrono is getting. Bitsane should get in there and contact developers for possible ICO deals. |
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When we think and talk about where Bitcoin will be in the next 2 or 3 years I would think that it will be big and the price will explode. In short, all positive thoughts. But when asked where it will be in 20 years my thoughts are negative mostly. My first concern is the mining. Would it be possible for the miners to keep increasing the wasting of energy for as long as 20 years?
Reactive in economic theory : more important value of the limitations of an item, whatever the system load is to be prepared will be performed. Not going to be complicated due to technological developments always perform optimizations to ease the burden of capital and energy. If necessary, large companies work together to anticipate this mining issue. I do not quite understand what you are saying. The last sentence tells me that you think Bitcoin might still be around in 20 years? If by then it still lives then the price should be very high. To what benefit would it be to mine something worthless if Bitcoin still stays at these prices. The cost of mining will be too high if you consider the halvings we will go thru and the difficulty rise in a 20 year period. |
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One thing that is clear though is that the future demand curve will be greater if bitcoin has more users then than if it has fewer.
If Bitcoin does not retain it's unique properties in an attempt to accommodate "mainstream" usage, it's just a cumbersome PayPal, and no one is willing to use that. Politics aside, what is wrong with a payment layer built on top of the Bitcoin network? The possibilities for Bitcoin has become wider if there was a LN type network layer that could handle unlimited transactions and say could also become a bridge between blockchains. Real anonymous transactions could also be implemented. Why stop it just because "it does not retain its unique properties"? It is still there, you can still do transactions onchain. Where did I suggest that a layer could not be built on top of Bitcoin? Quite the opposite, keeping the underlying protocol and network lean and robust while scaling via additional layers (which could be peeled away if necessary) is probably the only solution which will allow Bitcoin to retain those unique properties. My comment was clearly directed towards the idea that on-chain scaling via a massive block size increase is a viable solution. Good. I am glad we are on the same page. Smaller blocks and network layers on top might also be the solution for the developers and Bitcoin thinkers who want to utilize sidechains. Whatever politically motivated criticisms they throw at Core, I still believe in the direction where they want Bitcoin to go. It opens up a lot more possibilities for the network. |
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I do not know what OP is talking about when he said that the "price has lost its value". For a Legendary member he is not too smart. Maybe he is trying to make us sell our Bitcoins because he thinks he can crash the market with one thread? Laughable.
One of the most amazing traits of Bitcoin is it always weasels its way to find efficiency. If it cannot be traded in the exchanges then there is Localbitcoins. If the Chinese government blocks Localbitcoins I believe there will be other ingenious ways developers can create to enable trading. Bitcoin's peer to peer nature is causing headaches and will cause more.
Sorry for the confusion. Actually, I mean the price of Chinese bitcoin exchanges has lost its authenticity. http://news.8btc.com/chinese-bitcoin-traders-lost-track-of-authentic-priceSorry for saying the negative comment. I meant no offense. It was only surprising for me that a Legendary member will think that way. On the topic of Chinese exchanges and the lack of authenticity, what is new about it? We all already know the volume was fake, we also know that China is the source of most of the pumps and manipulation in Bitcoin. Nothing was truly authentic with the price of Bitcoin in China. I ask you, as a Legendary member, do you follow the prices of the Chinese exchanges or older, more authentic exchanges like Bitstamp or BTCe? The fact that they are writing all about it just now is also laughable. We all know that is already the case. |
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I mean do you find yourself more successful in trading cryptocurrency than penny stocks?
I mean even bitcoin is an experiment than a $5 stock like $NOK $MNKD
I assume $MNKD is a ticker for a penny stock? Ok think of it this way. There is no comparison between a penny stock and the all mighty Bitcoin. Is your favorite penny stock as cool as Bitcoin? Is your penny stock a peer to peer, censorship resistant, and capable of value transfer on the internet? Can you buy cocaine with your penny stock? That is how cool Bitcoin is. yes $MNKD goes from $7 to 0.50 now bitcoin is cool i get it,but there's too much going on like how do you research the fundamentals? like for instance $NOK (nokia) plans to release a new version of 3310 in ~2018  not just pure speculation to the moon Try to widen your thinking. You are not dealing with stocks anymore this something new and something very revolutionary. The technology behind Bitcoin like consensus thru proof of work and a peer to peer value transfer protocol has opened up new possibilities for society. It was also created by an anonymous person and the code is open source so it means anyone can now create their own payment network that is open, free and most importantly peer to peer. So now take speculation and profit to the back seat and focus on the technology and what it brings to the plate. |
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I mean do you find yourself more successful in trading cryptocurrency than penny stocks?
I mean even bitcoin is an experiment than a $5 stock like $NOK $MNKD
I assume $MNKD is a ticker for a penny stock? Ok think of it this way. There is no comparison between a penny stock and the all mighty Bitcoin. Is your favorite penny stock as cool as Bitcoin? Is your penny stock a peer to peer, censorship resistant, and capable of value transfer on the internet? Can you buy cocaine with your penny stock? That is how cool Bitcoin is. |
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Without an exchange that allows bitcoin withdrawal, the price has lost its value.
Bitcoin is going to the moon in other exchanges, Bitfinex is right now hitting 1011 dollars. Meanwhile OkCoin is stuck at 981 dollars. Conclusion: It's clear that now bitcoin has departed from china, china doesnt call the shoots anymore, we can hit an ATH whiteout china. It's too early to rule out China completely. I however find it quite remarkable that a Japanese exchange is now generating more volume than all other exchanges. It might be an indication that there is a shift going from China to Japan. If that's really the case, then I can only support such a development. Other thing is that Chinese people are now starting to use LocalBitcoins to avoid buying through exchanges. But that's not really beneficial for traders as they still need an exchange for their trading sessions. I do not know what OP is talking about when he said that the "price has lost its value". For a Legendary member he is not too smart. Maybe he is trying to make us sell our Bitcoins because he thinks he can crash the market with one thread? Laughable. One of the most amazing traits of Bitcoin is it always weasels its way to find efficiency. If it cannot be traded in the exchanges then there is Localbitcoins. If the Chinese government blocks Localbitcoins I believe there will be other ingenious ways developers can create to enable trading. Bitcoin's peer to peer nature is causing headaches and will cause more. |
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One thing that is clear though is that the future demand curve will be greater if bitcoin has more users then than if it has fewer.
If Bitcoin does not retain it's unique properties in an attempt to accommodate "mainstream" usage, it's just a cumbersome PayPal, and no one is willing to use that. Politics aside, what is wrong with a payment layer built on top of the Bitcoin network? The possibilities for Bitcoin has become wider if there was a LN type network layer that could handle unlimited transactions and say could also become a bridge between blockchains. Real anonymous transactions could also be implemented. Why stop it just because "it does not retain its unique properties"? It is still there, you can still do transactions onchain. |
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When we think and talk about where Bitcoin will be in the next 2 or 3 years I would think that it will be big and the price will explode. In short, all positive thoughts. But when asked where it will be in 20 years my thoughts are negative mostly. My first concern is the mining. Would it be possible for the miners to keep increasing the wasting of energy for as long as 20 years?
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Well it looks like media trying to paint bitcoin now as a good investment option specially for those who are willing to take the risk. And this kind of articles are good for the bitcoin community because it exposed it for those investors who don't have an idea what bitcoin is. For me, negative or positive press is still press so thanks to the author  Also, its one way that it will be mass adopted sooner than we know. If you are a greedy bastard who does not care as long as the price of Bitcoin is going up then yes. Who cares what they write about Bitcoin. When I first discovered Bitcoin I used to think that it was a very good investment and I recommend people around me to also invest because it will change the world of finance forever. Now that I am learning more and more each day, if someone asks me if they should invest in Bitcoin, I always say be careful because they are putting their money in the hands of the miners, the developers and people who want to fork it away like the big blockers. |
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Some investor from Wall Street may have paid someone to write that article. Maybe he wants the price to move up again so he can sell at +$1000. If you have not noticed that it has always happened in the past you have not been paying close attention.
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Is it time for you to add new coins to Bitsane now?
A number of new exchange sites have begun to list coins that have an impact on the market.
Even those that have not even entered the market. In this way, the site is showing a high volume of ads.
I don't see the necessary to Bitsane add new coins. The site works with the most popular and that's enough. Yes. Absolutely, There is no meaning in adding new coins and manage them without even having a guess about their future. Bitsane already has the important ones and it will be best to be in them. Bitsane can add if the coin is really worth for exchange. I think for a New exchange like Bitsane, adding New coins can be helpful as it bring new investors associated with the new coin. This will really help the new coin owners too and exchange itself. They can start the voting system to list new coins and also make a rule that if there is not a set minimum trade for a coin, that coin will be delisted. This will keep the exchange clean with useful coins only. Depends on what coin. I like Bitsane how it is right now. Only the good coins are listed even if they are still lacking a couple more. In my opinion they should have trading with 0% fees. Many active day traders are looking for it ever since the Chinese exchanges have removed them. Well, the addition of new coins are not made at random. exchanger must also take into account whether the coin, will benefit, or will only lead to trouble. may add new coins would indeed be very helpful, but it should also be taken into account with the good. it might make bitsane become more popular. you can see about volume transaction in liqui liqui always added is good new altcoin, and now liqui is can get trust to ico selling big coin, Time coin for crhonobank added good coin , and good community can incraese member bitsane, and can incraese volume transaction and popularity 1 open accepted new good coin and big community in succes ico 2 open service ico selling 3 open margin trading and lending (feature) i think only wait to can big exchanger If I was open to ICOs, which I am not, I might prefer an ICO that is backed by legit people in the Bitcoin industry. People like Barry Silbert or someone who has been a known Bitcoin investor. If Roger Ver started an ICO I would surely line up to participate to get some coins. The Chronobank project you mentioned is not something I have in mind. It has to be something bigger. |
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I read the article again at Coindesk. The OP has made a mistake. Fiat deposits and withdrawals with the Chinese exchanges are allowed. Cryptocurrency deposits and withdrawals are the transactions disallowed by the exchanges. They became something like a regular stock market. Okcoin and Huobi has released a statement that this will be enforced for a month until they have their AML mechanisms in place. How will the do that with Bitcoin? What stops me from sending them to another wallet owned by a close trusted friend in another country?
If you cannot deposit or withdraw any cryptocurrency in your exchanger then its useless to do some trading on that site. Possibly that occurrence has contributed to the latest decrease on the price of bitcoin. But hope Chinese exchangers can comply to the required AML mechanism standards so they can operate normally and bring back bitcoin more lively again in China. I predict that the outcome will be that the Chinese exchanges will be banned from allowing their users from making cryptocurrency deposits and withdrawals from the exchange. Trading cryptocurrencies in China will be like trading stocks and fiat currencies. The risk of those exchanges to become an instrument for money launderers is very big. this had to happen a long time ago and should happen everywhere in the world. in fact this is the best thing that can happen for cryptocurrencies. many users are staying away because bitcoin and others are not regulated and when this happens a lot of good things can also happen. for example a bigger adoption. and even possibly it many lead to exchanges being unable to run away. I find your comment ignorant and laughable. If you really believe in what you said then you have taken away the freedom and the things we love about Bitcoin. Why would I want to be limited by the exchanges? What use is there for the Bitcoin blockchain them? You might as well trade centralized Bitstamp tokens or something the same. |
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I wonder if someone still should get into trading Bitcoin at this point? There was a time with incredible aggresive swings so that daytrading was interesting, but now the movements appear but much slower. Is it still worth it to trade?
Whatever happen in the flow of market in trading platform, doing trade will always be worth to do it. As long as there is fluctuation happening inside the graph and coins are many swinging or even swinging are getting slow, still there is a heart beating in the trading stage. It shows only that any exchanger's are continue exist because of their active traders. How can you say that it is still worth to do it? Are you a part of the top 10% of the winning altcoin traders? If you can answer yes. Can you prove that you are really a winning trader? I am asking since you said trading is still worth it. An understanding that the market has three types of movement - it is either going up, down or sideways. For each of these movements, a different approach to trading becomes necessary or the trader is better off staying out until, the market reverts to conditions he/she is conversant with. Something I have noticed with some traders here is that, the ones without some background knowledge of how currencies are traded, thinks that trading cryptocurrencies is guess work or no correlation with trading forex, but it is not, strategies have their place just as in forex, that is how buying low and selling high would not end up being an illusion. Can you say for yourself then that Bitcoin and altcoin trading is still worth it for you? Your post gives us the "illusion" that trading is simple for you and that you are good at it. Ok can you then give us proof that you are a winning trader so that we will know for certain that trading is indeed still worth it. Most of the posters in this thread are losers in trading. How can you all belong to the top 10% of winners? It is impossible. Therefore trading is not worth it for the losing 90%. in his last paragraph he clearly states that it is not for those with no background knowledge! and you are right it is not for everyone and most people around here are losing money in trading but that doesn't mean it is hard or the percentage is 90% that is just unreal! if it was that bad, people would have left trading forever. and besides, learning how to trade is not impossible. it just needs some work and putting in some effort to learn it and read a lot and gain some experience. That is what I am saying. Most of the people here who say that trading is worth it are not really trading or they are losers in trading. How then can they say that trading is worth it? Try to research how many winning traders there out there and the answer will be the top 10% are the ones consistently making money. The traders outside of it are only very slight winners, break even traders and the losers. |
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Subscribed. This looks like a fun thread with no pretensions. Good clean fun in monitoring the price of Bitcoin and gold and see what happens. Can anybody post a good site where we can see the long term chart of gold?
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I wonder if someone still should get into trading Bitcoin at this point? There was a time with incredible aggresive swings so that daytrading was interesting, but now the movements appear but much slower. Is it still worth it to trade?
Whatever happen in the flow of market in trading platform, doing trade will always be worth to do it. As long as there is fluctuation happening inside the graph and coins are many swinging or even swinging are getting slow, still there is a heart beating in the trading stage. It shows only that any exchanger's are continue exist because of their active traders. How can you say that it is still worth to do it? Are you a part of the top 10% of the winning altcoin traders? If you can answer yes. Can you prove that you are really a winning trader? I am asking since you said trading is still worth it. An understanding that the market has three types of movement - it is either going up, down or sideways. For each of these movements, a different approach to trading becomes necessary or the trader is better off staying out until, the market reverts to conditions he/she is conversant with. Something I have noticed with some traders here is that, the ones without some background knowledge of how currencies are traded, thinks that trading cryptocurrencies is guess work or no correlation with trading forex, but it is not, strategies have their place just as in forex, that is how buying low and selling high would not end up being an illusion. Can you say for yourself then that Bitcoin and altcoin trading is still worth it for you? Your post gives us the "illusion" that trading is simple for you and that you are good at it. Ok can you then give us proof that you are a winning trader so that we will know for certain that trading is indeed still worth it. Most of the posters in this thread are losers in trading. How can you all belong to the top 10% of winners? It is impossible. Therefore trading is not worth it for the losing 90%. |
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To the OP. Give up. The banks will not disappear. Maybe you have been listening to Antonopulous or however his name is spelled too much. He does not know what he is talking about half of the time when it comes to the future of Bitcoin and finance. Bitcoin and crime was made for each other and both will continue to become big online by supporting one another like a symbiosis.
A "mainstream Bitcoin" is out of the question.
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