I can see other Bitcoin based exchanges and payment processors either closing or doing a pivot just like Circle did. There is not enough money in the whole Bitcoin economy to have this many exchanges that we have right now. Some of them will have no choice but to close down. The most potent niche in the Bitcoin market right now is the dark markets. The growth potential over there is so big it will become like a gold rush for drug vendors.
Yeah they are some Bitcoin users using Bitcoin to buy drugs in the Dark Market and they use Bitcoin to scam peoples. That is reality. There is a lot of "legitimate" Bitcoin based businesses that are out there to scam the people too. There are cloud mining sites, some of the altcoin exchanges and many more just waiting to do their own exit scams. The foundations of all of Bitcoin is based on scams which created and developed its own ecosystem. |
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I can see other Bitcoin based exchanges and payment processors either closing or doing a pivot just like Circle did. There is not enough money in the whole Bitcoin economy to have this many exchanges that we have right now. Some of them will have no choice but to close down. The most potent niche in the Bitcoin market right now is the dark markets. The growth potential over there is so big it will become like a gold rush for drug vendors.
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I am not an active trader, all I do is buy when the prices are low and hold. I also intend to hold Bitcoin forever. Now I want to ask if that chart above this post is starting to look like one big giant cup and handle? If it is then would it bring us one big giant price move going up?
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Some of these "hacks" are really inside jobs done with the knowledge of the owners and might also be exit scams. There are some people who say that most of the Bitcoin and altcoin exchanges do not make enough money to maintain their operations if they intend to be up for a very long time. This is not the New York Stock Exchange here people. These are mom and pop operations with little capital.
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Drugs are bought with Bitcoins just like any other currency. But what makes a huge difference is, Bitcoins are used largely for buying drugs. Its the main criticism against bitcoins. I dont know how buying drugs using bitcoins can be controlled.
No one can prevent people to buy drug using bitcoin, becouse bitcoin is in individual control. But buy drugs is such as useless thing. There is no profit from kill our self using drugs, we better to do trade. You are so wrong in so many levels. The drugs trade in the dark markets is the most prosperous marketplace that Bitcoin has ever since. If you say it is useless, try saying that to the drug vendors and all the buyers who like to sell and purchase drugs the safe way and away from going to the bad neighborhoods. Trading brings no organic growth to Bitcoin. All it brings is speculative value. |
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we have all seen exchanges being hacked and lost our precious bitcoins or at least heard about them. and these days i keep seeing these two topics saying there is a possibility for a new one! i say lets talk about a solution. there is no point sitting around waiting for one to happen then start crying! - what can we do?
and don't keep your money on exchange site is not an acceptable answer! because you have to do it if you want to trade, the exchange may get hacked (allegedly or for real) 1 minute after you deposit.
- what is the substitute for these exchanges?
decentralized exchange? how do they work? is there any good one around? why aren't they famous? what are the pros and cons?
i'll admit that i don't know much about decentralized exchanges and i am sure i am not alone here let this topic be a compilation of all suggestion for either an existing solution or future possibilities and ideas. What can you really do if you are an active trader? You need your Bitcoins available for trading at the exchanges most of the time because getting your deposit in your exchange account can take time sometimes. Most of the exchanges require at least 3 confirmations before you can see your deposit in your account. |
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Bitsane seen rising, probably becouse there are great people behind bitsane. With the good plan that has been prepared. If I have money I want to invest it in bitsane. Could there be a chance?
its really very good idea to invest your money in Bitsane because bitcoin getting much more popularity and you are right that bitsane rising day by day so i gree with your plan and i hope you will get a good profit in the near future through Bitsane. is Bitsane itself an investment site or a coin? I thought bitsane is a Crypto currency exchange where users can buy sell Crypto currency. and can trade and exchange.. if this is right than I don't understand the meaning of investment in bitsane... I guess he meant trading at bitsane. Anyway I too have made two suggestions here and hope bitsane will consider both or atleast one of them.Here is a brief summary of my suggestions : 1.Bitsane referral system to encourage existing members to invite their friends. 2.New coins ICO.I have seen this on yobit and c-cex and have made some small profit alsoNo that would be a very bad idea. Among the ICO's it will be better for Bitsane to stick to the more tested ones. If they want to be taken seriously then they should stay away from shitcoins who do not try to create anything good for whole community. |
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I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?
This is maybe the dumbest question ever to be asked in this forum, or one of the dumbest. But to answer your question it will all go down. By all I mean all of the Bitcoin based industries that were created around and on top of it. That hacker would have been richer if he stole fiat and invested them in Bitcoins. |
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they managed to make Starbucks accepting bitcoin in their official application and that's definitly an achievement for a new service like them. Its great news for bitcoin  , only good news lately. Keep in that way so price will be soon 1500$. Im hoping alibaba will accept bitcoin, then it will explode Do you think people will get out of their way to buy Bitcoin just to spend it on Alibaba? They can use fiat or their credit cards for that and there is no need for Bitcoin. Why are people still fixated with the idea that Bitcoin will become a mainstream currency? |
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It may be a repeated or old question but I am interested to know what was the purpose of creating bitcoin? I am pretty sure that there is a hidden purpose of bitcoin rather than being a coin.  If you are pretty sure that there is a "hidden purpose" on why Bitcoin was created then what is it? Do you really have an idea what this hidden purpose is or are you only trying to start a useless topic. Why not post in the OP what that hidden purpose is so we could start discussing it. |
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The old year ends. In the new year everything can be done better. At least theoretically  What are your good intentions regarding Bitcoin in 2017? Is there really a need to do that at this point of Bitcoin's evolution? Those days where each user held hands and banded together under the ideals of libertarianism is gone. Bitcoin is a fully functional currency now thanks to the dark markets. Having good intentions or not will not really make a difference. |
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There have been and are sites like Ebay for Bitcoin. I used to use Bitmit, but I think they actually got bought out by Ebay. Shame because it was a pretty good site. Theres also Bitify right now. I find that the problem though is due to the nature of Bitcoin and a certain niche it attracts, Bitify is a scam hole. I've made maybe 5 purchases and 3 of which were scams. Their support isn't too bad, so I didn't lose anything, but I'm sure because of the amount of scams they are severely understaffed. I had something like 1-2 week resolution times with support.
The biggest issue I'd imagine, is to be feasible, they would need Ebay like fees. Most Bitcoiners use Bitcoin because of the lack of fees involved, and may not be too thrilled to pay the 10% needed to get decent customer service, and staff that can dissuade scam attempts. While Ebay has plenty of scammers, Ebay has enough resources to take the hit themselves if need be, or take legal action to actually go after people. I don't think Bitcoin Ebay would have that sort of luxury, so if anything, they would need to increase fees to cover unavoidable losses.
The problem with Bitcoin based services that mimic mainstream services like Ebay is it will not work. How can it compete with the mainstream services that uses credit cards and cash? It is much more accessible than Bitcoin will ever be. It should be time for us to realize this and embrace what niche where Bitcoin really thrives. The dark markets. |
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In my country, a Bitcoin exchanger (coins.ph) recently launched their own virtual credit card, I plan to load my Starbucks card using that virtual credit card, if it works, then maybe I can say that Starbucks in my country accepts Bitcoin through a VCC but if its direct paying Starbucks using Bitcoin then we don't have it yet here.
It would be better for you to keep all your Bitcoin savings intact because there is really no need for them to be spent to buy coffee in Starbucks of all places. Just use cash. It is a better form of payment for your daily wants and needs. |
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Don't worry, press coverage will start soon enough - probably after Bitcoin reaches 4 digits. Although there is some reporting, it's actually good that journalists are still sleeping. Rallies fueled by mass media are the least sustainable. Uninformed people that only buy because of greed triggered by mainstream media tend to be quickly disappointed. We don't need that.
In my opinion the recent price moves are driven by real demand - mostly from India. So I would think that this rally is a bit more sustainable than the previous mega-bubble.
ya.ya.yo!
Its a chinese exchange pump, don't fool yourself lol This is true. We are slowly beginning to be in a bubble as it once was during the end of 2013. I wonder what "real" demand is yayayo talking about because the only organic growth where it is happening is in the dark markets. As long as there are drug addicts willing to use Bitcoin and criminals willing to to take it as payment, there will be some demand for it as a currency. So far that demand is not as big as everyone would like to imagine. |
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Wait for it to break the all time high and see how many mainstream news publications cover Bitcoin again. Because of the rise and fall during 2013, everyone thinks Bitcoin was just a fad. They have not taken into account the real value of Bitcoin in penetrating markets that the banks do not want to serve. Specifically the illegal drugs market in the dark markets. |
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Even though , iPayYou doesn't look as good as other services such as Bitpay for example , they managed to make Starbucks accepting bitcoin in their official application and that's definitly an achievement for a new service like them. In order to use this feature , you first have a wallet in iPayYou otherwise It's not going to work. The next year already sound very promising and I can't wait to see more . This will not work and the service will either pivot into something else or close down at some point in the future. My question here is, why would I use Bitcoin to buy coffee at Starbucks when cash and my credit card works fine? I would like to keep all my Bitcoins because it is rising and it will not stop rising until it reaches a trillion $ value in market cap, thank you very much. |
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Bitcoin above $1000 this year: I believe
It could but if everything stays the same it is more possible to happen during the first few months of 2017. I am not a good trader but I have recently been experimenting in trading altcoins at Poloniex. I have lost some of my Bitcoins which I regret because of my greed. I believe the safest and sure way is to just hold them while it is rising. The markets move very fast and I end up in panic buying or selling. |
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With $1000 in the not too distant future and the ensuing sell off (I'm sure many consider this a psychological target to sell 20-50% of their bitcoins for profit, if only to re-invest after the drop).
The question is: after $1000, just how far do you think BTC will drop back? Could we see the days of $500 from August again, or are we stable above $800-900?
I would welcome the "days of August of $500" again. Please let it happen, I would be very happy to pick up those coins and add them all to my cold wallet. Bitcoin has been proven time and time again that it has not reached its full potential value yet. The dark markets is a potential billion US Dollar market with Bitcoin in the middle of it all, supporting it. Where do you think Bitcoin's price be in 5 years time? It will be higher than it is now. there are many traders that will welcome a lot higher low prices (such as $800, $790 and $750) with all the money they have. so be sure your dream of $500 days will never come true since the buy support is pretty strong and growing stronger each day. That is true. The more Bitcoin rises higher and higher the less it is likely to go back to $500. I believe all of us would agree that it may never go back to the days of a $100 per Bitcoin unless something really horrendous happens to the network like Satoshi suddenly dumps all his coins in the market. Or maybe even some movement of his funds from wallet to wallet could affect the price in a bad way. |
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Still not sure whether btc going mainstream would be good or bad though. Might lead to more governmeny surveillance.
Obviously bitcoin gonna be mainstream currency and it will be good for bitcoin both in respect to its price and usability. Government surveillance can't be enough to track down or stop bitcoin transactions but this may limit the amount of bitcoin than can be exchanged in local bitcoin ATMs and local trading platform. Then how can Bitcoin be a mainstream currency if that is your argument? Do you not know how stupid that sounds? If a currency is to become mainstream, it has to be made legal tender by a governing body. You are only talking out of your ass and you have no idea what you are saying. |
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I cannot believe that many people in this forum still believe that Bitcoin will become a mainstream currency. It is not, wake up people. The best move for Bitcoin is to stay as the main currency in the dark markets. Just sit back and relax as the dark markets grow. Nothing can stop it now.
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