|
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.
|
|
|
|
I would only use Coinbase to initially buy Bitcoins. Then if you want to do trading frequently between fiat and Bitcoin, use an exchange like Poloniex or one of the other good ones by transferring from Coinbase to that exchange. Then if you want to cash out permanently, transfer back to Coinbase.
Do not use Coinbase. The US government wants to get all their customer's information and transaction records. I will not risk using them and have my name recorded in their database. Coinbase has declared that they will fight the case but that will cost them a lot. I believe they will give out all their records sooner or later. |
|
|
|
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 That would basically render these exchanges uselessIf you can't deposit coins, you can't convert them to fiat and withdraw the proceeds. On the other hand, if you can't withdraw coins, you can't convert fiat into them and then withdraw the funds. And what remains? Depositing and withdrawing only fiat, which is already prohibitively expensive to both deposit and withdraw? Essentially, most exchanges work in the opposite direction, i.e. their incoming and outgoing flows mainly consist of cryptocurrencies, not fiat, primarily thanks to no deposit and low withdrawal commissions From the PBOC's point of view that will be the only way to control the Chinese Bitcoin exchanges from being used as money laundering platforms. They are limiting the exchanges to become like a stock market exchange. You use them for trading, make a profit and withdraw in fiat. This makes sense for most of the Bitcoin traders because all they want is to make money in fiat thru trading the movements of Bitcoin and other cryptocurrencies. |
|
|
|
|
More economic and financial mumbo jumbo from Yahoo Finance. Try to find out who wrote that article and ask yourself "If the writer is really that good, then why is he not rich right now?"
Those finance writers get paid to make all those articles which you all think comes from the "experts". No, those writers are as the same as us. They have no clue and make things up just to keep you reading on their site.
|
|
|
|
It is in our nature to want it all. The Chinese Bitcoin mining industry not only wants control in minting coins and what is included in a block they now are making moves to control development to get what they want. Bigger blocks.
To gain back leverage there must be the ability to do transactions off the chain.
lol wake up. your sleeping. im guessing blockstream tucked you into bed and read you a fairy tale. telling you to count the miner until you fall asleep instead of thinking of the boogey men under your blockstream bed. care to try reading before bed. and not jump into bed with anyone that only wants to grab your wallet. here is some tips for your research 1. if segwit activates. segwit nodes will BAN non segwit pools AUTOMATICALLY. thus causing a soft bilateral split. 2. even if segwit activates. all of them "fixes" wont be used by the malicious users that are causing the issues. malleation, quadratic spam etc will still occur. https://bitcoincore.org/en/2016/10/28/segwit-costs/Miners could simply use software that does not recognise segwit rules (such as earlier versions of Bitcoin Core) to mine blocks on top of a chain that has activated segwit. This would be a hard-fork as far as segwit-aware software is concerned, and those blocks would consequently be ignored by Bitcoin users using segwit-aware validating nodes. If there are sufficiently many users using segwit nodes, such a hard-fork would be no more effective than introducing a new alt coin.
yep segwit nodes will bilateral split the network and prefer to talk to only thier own kind.. (native bitcoincoin nodes and pools are thrown aside) Significant work has gone into ensuring that segwit enabled peers will form a strongly connected subgraph of the Bitcoin P2P network. This includes providing a dedicated service bit for witness enabled nodes and preferentially connecting to such nodes.
3. the transaction boost is not automatic. its dependant on how many use segwit keys. dont expect 100% utility Let us set aside all the technical details and try to analyze the situation. Both sides argue technically with "this or that" and the majority of the people in the community are like me. We have no full idea what they are talking about. But it does not mean we are stupid and do not want to learn. We do. All in all this all goes down to politics and the need for control. Power and influence is the name of the game here. The big blockers are no different from the blockstream boogeymen you keep talking about. |
|
|
|
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. |
|
|
|
Guys hello, quite new here as you can see. Whats the best way to trade fiat for btc and other cryptos? I have been using Coinbase but it takes 3business days and since im from EU Im paying fees to do so. Also Coinbase rates btc higher than it actually is for extra profit.
Any help will be appreciated.
Thanks!
1.STOP using coinbase.If you still have your coins in their wallets,please use either desktop wallets like Electrum or blockchain.info (I don't suggest using online wallets anyway) 2.Use localbitcoins instead.Kraken would do but from my experience using a better p2p oriented exchange is always safe.
3.Localbitcoins do have cash trading option if you wish to.I agree. But OP keep in mind that if you decide to use Localbitcoins you might pay at a higher price because that market is very thin. The question now will depend on how much Bitcoins are you planning to buy? If it will be over $1000 worth then it might be good to use an exchange and wire transfer money there. For small amounts Localbitcoins is good enough. |
|
|
|
This made me laugh reading it. Current market speculation
Needham and Company published a report early this year estimating that an ETF approval was likely below 25%. However, at the time of writing, the newly released BitMex EFT prediction market is expecting a 33% chance. We've seen speculative bitcoin pricing in the range of $1,050-$1,150 and success probabilities of 25% to 33%, figures that are in line with a $500m-$1bn capital injection from ETFs. In such a scenario, we would see bitcoin's market cap swell to $20bn-28bn. I hope and wish Needham and Company really know what they are talking about and getting into. They should visit this forum more and see what is really happening with Bitcoin. We had spammers attacking the network causing more than 50,000 unconfirmed transactions twice this week and more the past few weeks. We have scalability problems and more problems on how to solve it. We have an experimental payment system with Bitcoin but the people outside of it treats it like digital gold. So amusing. Very true. In some ways, the ETF might expose Bitcoin's problems to the mainstream media and cause irreparable harm. I do not think it will cause irreparable harm but Bitcoin ETF investors will be very disappointed. They will have a reality check and find out the flaws in BTC. The motivation behind this is clearly greed. There are still a lot of people from the finance sector that think riding the Bitcoin bandwagon is still profitable. |
|
|
|
This made me laugh reading it. Current market speculation
Needham and Company published a report early this year estimating that an ETF approval was likely below 25%. However, at the time of writing, the newly released BitMex EFT prediction market is expecting a 33% chance. We've seen speculative bitcoin pricing in the range of $1,050-$1,150 and success probabilities of 25% to 33%, figures that are in line with a $500m-$1bn capital injection from ETFs. In such a scenario, we would see bitcoin's market cap swell to $20bn-28bn. I hope and wish Needham and Company really know what they are talking about and getting into. They should visit this forum more and see what is really happening with Bitcoin. We had spammers attacking the network causing more than 50,000 unconfirmed transactions twice this week and more the past few weeks. We have scalability problems and more problems on how to solve it. We have an experimental payment system with Bitcoin but the people outside of it treats it like digital gold. So amusing. |
|
|
|
|
In my experience if you need only a small amount of Bitcoin go to localbitcoins.com. It is easy to use and more convenient because you do not have to deal with the banks except maybe for over the counter deposits and withdrawals of that is what you prefer to pay and get the cash.
Another good easy way to get Bitcoin is find an exchange that allows you to buy BTC with your credit card. Bitstamp is already starting this depending on the country. There might be also other exchanges starting to do this.
|
|
|
|
You mean when will they hard fork to Bitcoin Unlimited? I hope never now that I realize how greedy the miners really are. They want everything, the whole piece of the pie. The Chinese Mining Industry already has so much power on the network yet they want more. To have leverage on them, Segwit needs to be implemented and then the Lightning Network created.
please research.I would really love to believe me. I am a voracious reader. The problem is I would not know where to start. Can you give me a link or 2 on where to start, I will do the rest. I want to learn about what you are saying about Blockstream and try to see the situation from the big blocker's point of view. |
|
|
|
|
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?
|
|
|
|
|
It is in our nature to want it all. The Chinese Bitcoin mining industry not only wants control in minting coins and what is included in a block they now are making moves to control development to get what they want. Bigger blocks.
To gain back leverage there must be the ability to do transactions off the chain.
|
|
|
|
Bitfury.
Somehow this does feel like 'decentralized' to me.
Bitcoin Unlimited support is not "decentralized" too. Most of the miner support comes from Jihan Wu of Bitmain. So do not act as if you are in the right side. We are all in this together for better or for worse. I have a stake in the network. All my savings are in there, I hope yours are all in there too. |
|
|
|
Update: 8th Feb, BTCC announced closing of CNY deposit/withdrawal on its’ pro exchange. Users may deposit/withdraw their funds via bitcoin. The policy will be effective on 11th Feb.  There is a Coindesk article saying that users may be able to withdraw and deposit using CNY but they forbid doing the same with Bitcoin and Litecoin. That makes much more sense because it ties their funds to that exchange. Think of what will happen if they allowed Bitcoins to go in and out of their exchange. Those Chinese exchanges would lose a lot of volume. |
|
|
|
So, everybody knows the Bitcoin network has a serious issue to solve. Meanwhile the fees cost is going higher and higher and that could sign the death of Bitcoin. We all know that the best solution to that is a block size increase, but when is that going to be implemented???
You mean when will they hard fork to Bitcoin Unlimited? I hope never now that I realize how greedy the miners really are. They want everything, the whole piece of the pie. The Chinese Mining Industry already has so much power on the network yet they want more. To have leverage on them, Segwit needs to be implemented and then the Lightning Network created. |
|
|
|
Prices rose about 15% in just a week, it looks like the trend of rising prices continues. I predict the price of $1.500 will soon be achieved. I'll hold bitcoin and will I sell once the price reaches $1.200 or more.
Bad prediction. Like everybody else who are amateur traders in the forum you should not be listened to when you make predictions. The professional traders who should be the people we listen to do not post their predictions here because they do not want to give away their secrets. |
|
|
|
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. |
|
|
|
https://blockchain.info/charts/mempool-countThe network spammers are back. Over 50,000 unconfirmed transactions again. I should have checked the mempool before sending some coins. Does anyone have a clue who or what is happening? Could the spammers be on the side of the big blockers or core? I can see people from both sides arguing that it is caused by one with the opposing group.  "Greetings, Mempool Alpha. We are currently blocking all transactions. Tatamis Hookason, out." lmao! nice. To my campaign manager please do not pay me for this post. Gleb might get mad at me again, I only want to laugh at his joke. Did you decipher Tatamis Hookason?  I am not sure if I got it right. Is he a loner, hates crowds, prefers to be anonymous, a brilliant thinker, maybe likes to code in his free time and he wants to become a Japanese? |
|
|
|
|
I have asked maybe 3 or 4 people here to tell us what altcoins are good to trade and to show us proof that they are winning traders since they are so quick to advice everyone that trading them is still worth it to trade. I did not get one answer from any of them. It shows most of the posters here do not care.
|
|
|
|
|
Show Posts
