Latest posts of: aso118

Why do you need custodian services for an asset which can be held securely in your own computer?
The only services that traditional custodian services have to provide for Bitcoin is settlement, where a customer actually exchanges his bitcoin for fiat. Otherwise, the role of a custodian is redundant in the Bitcoin world. The blockchain plays that role very well.

By 2013 end, I read an article in Yahoo news covering big corporate employees demand their salary in bitcoins. But after that I never got any update on that.

Just today I come across this amazing news, this is what I was expecting for years....
https://www.cryptocoinsnews.com/goldman-sachs-hedge-fund-bitcoin

If this will be happening in real time, I guess we may forget about worrying on ETF disapproval. When asset management companies will be covering bitcoin as part of their portfolio, unofficially people may start trading bitcoins how they suppose to do with bitcoin ETFs !?

It is just hedge funds asking Goldman to cover Bitcoin. Hedge funds have almost no restrictions on what they can invest in.
A lot of funds have been investing in alternate assets like Bitcoin for years.

Then why such hype about the ETF, if the hedges funds can and are investing on Bitcoin?

Because the ETF will allow a lot more retail and institutional investors to invest in Bitcoin. There are limited number of hedge funds and only a select few invest in crypto. ETF will be a game changer.

Quote from: LuanX3 on June 15, 2017, 03:31:14 PM

I partly agree. Bitcoins are not like the USD, EUR, or GBP. They are not backed up by gold or any state, hence there is expected fluctuation. We are not paying money here but investments whenever we use bitcoins for payments. That is why probably they concluded this is not a currency but an investment.

No currency is backed by gold these days. They are just backed by the economic (and military) might of states.
One reason why I agree that Bitcoin looks more like an investment vehicle is the high transaction fees. You don't have that with fiat.

Quote from: niokobo on June 15, 2017, 05:03:49 PM

What use is Bitcoin if in 9 years you cant even buy groceries with this shit

You cant build a business on bitcoin because of the volatility and even if you try to runa business on bitcoin you have to wait forever for a transaction to be sent

whats the point of bitcoin, if you cant do anything with this shit?

Things will change. The scaling debate cannot go on for ever.
Just grin and bear it until then. Bitcoin will shoot through the roof once this is resolved.

Quote from: kosuk on June 15, 2017, 07:52:24 AM

I do not know the reason. Why has it dropped by 15%?

The whole crypto market is in a sea of red today. I can see around 5 coins out of the top 100 which have risen today.
As per some news report, technology stocks (and Bitcoin) are being beaten down by market participants.

Quote from: RewFrew on June 15, 2017, 01:31:28 AM

Well well,

I announced it before, but now its official: The king Bitcoin is death.

Who killed it? miners with their big fees day after day. its 7 dollars right now and gonna increase day after day.

Bitcoin is no longer suited for small transactions, speed stransactions. Peoples with small account are no longer welcome by Bitcoin miners.

Ethereum gonna be the new king for some months, but he is like bitcoin.
With increasing fees gonna be dead soon too.

When i said dead it means no longer number 1.

And then a third new king gonna came and stay there for maybe years, a king Altcoin with free transactions fees, very speed and secure transactions.

Maybe this king is already there: IOTA .
With something innovative than the very slow and high fees blockchains system.

It is sure that IOTA gonna be the next king, and from there the real decentralised decade of Altcoins gonna start, with more projects more decentralised than IOTA to try to be the Futur King.

I'm not an IOTA, Bitcoin, Ethereum defender, i dont give a shit about them. my only concerns are a fair,secure, too much decentralised, with no fees coins to be the new model.

The reason why a lot of people still stick to Bitcoin is because of the security the network affords. That isn't going to change overnight. And if the scaling debate moves forward, the king may still return.

Demand in Korea has resulted in bitcoins commanding a premium there. This should be a good opportunity for whales to lap up some bitcoins.
However, the article doesn't say whether the bitcoins will be split into lots and auctioned, or sold as a whole.

Quote from: sana54210 on June 14, 2017, 05:55:34 PM

Reason 2 - Security is a major concern
Well we have seen the number of bank accounts which get hacked routinely. Bitcoin doesn't do too badly on this front.

Reason 3- There aren't any reasonable ways to invest in bitcoin
Just buy some bitcoins. There are so many exchanges around.

If you say that people are using Bitcoin to "park" their dollars, then it means that people will take out their dollars soon. I don't think this is the case. Some people are genuinely shifting their dollars to bitcoins and will stay put.

Quote from: bamboylee on June 14, 2017, 03:08:38 PM

The most important thing is too keep your bitcoins away from exchanges before that day and some time after that. You must put it in a wallet where you control the keys. This way, if ever a hard fork happens or not, your bitcoin is safe. If a hard fork happens, then there is a split and you will have equal value of the two resulting coins. Otherwise, business as usual.

That definitely will be the first step. Make sure you are in control of your coins.
The second step is to decide which coin to back. Supporters of both forks will dump the 'other' coin. You wouldn't want to be caught sleeping.

Quote from: Schuyler on June 14, 2017, 03:40:49 AM

Last time trhe price touched $300 was late 2015, I think. Seems to be a distant past nowadays with the price soaring over 10 times in a span of less than two years. For the price to go really low again, something drastic would have to happen, which is really unlikely right now, what with all the adoption going on in several parts of the world.

The OP is talking about the price of bitcoin decreasing by $300, not to $300. After crossing $3k, we did see an immediate correction.
We seem to have dropped another $100 today, to reach $2600.

Quote from: Terraformer on June 14, 2017, 12:41:55 PM

Quote from: Minecache on June 14, 2017, 05:32:03 AM

Not a killer app but a killer utility - keeping our hard earned money away from those crooks.

I Agree, bank`s crooks for years robbed people using a cunning system with huge interest for money transfer. And now their leadership ended.

It would be premature to say that banks leadership of the financial system has ended. At most, what we can conclude is that there is technology which can challenge them.
Banks may still survive and evolve.

Quote from: crazyivan on June 14, 2017, 06:34:43 AM

COLD STORAGE! COLD STORAGE! COLD STORAGE! An offline wallet cannot be accessed and consequently hacked.

I agree that cold storage is the best way. For newbies, electrum could be the best option.
You can store your coins in cold storage and all you have to do is save the seed in a safe place.

Quote from: lizardbtc on June 11, 2017, 08:32:32 AM

Quote from: Ost on June 11, 2017, 08:28:30 AM

How much of your total wealth do you hold in Bitcoin vs FIAT?

For me, around 25% is Bitcoin, the rest is FIAT.

Like good 50% if not more (not just bitcoin butin cryptocurrency as general). I turn them into fiat when I need to buy some stuff but it kills me everytime as price just goes up this is so annoying that price is not stable - but anyway like it can be when we have all this great happenings around crypto world that is just amazing.

That might be the proportion of fiat to Bitcoin that you hold. But when think of the proportion of total wealth, the percentage will be a lot lower.
A good percentage of my wealth is in real estate. If you look strictly at fiat to Bitcoin, I would say the ratio is roughly 1:1

Why does this form part of news? This might as well form part of a wiki.
When news is slow, publications tend to recycle such old articles as news.

Quote from: iluvpie60 on June 08, 2017, 03:22:45 PM

Both could happen.

If a fork happens there could be two chains. One chain being dominant and the other having lower hashing power. The miners would just go to the dominant one because that is what people will use.

The dominant chain will be what the miners choose. Not the other way around. Grin

In any case, a hard fork will lead to chaos and some investors losing their money. Not a good thing to happen.

Quote from: VitorPl4y on June 08, 2017, 07:41:14 PM

What I can say is bitcoin is going up rapidly,
So I would encouraged everyone to save their coins for more profit. Or buy some good altcoins and forget about them.
Anyway, join the cryptocurrency world while you can to earn easy money.

Saving the coins that you have is good advice. But the problem is when people think of buying coins with their hard earned money. The question is how much should they invest? People may be tempted, but they shouldn't invest more than what they can afford to lose.

Quote from: White sugar on June 08, 2017, 07:56:03 PM

This bitcoin investment vehicle could be 'a disaster waiting to happen'

The Bitcoin Investment Trust offers investors a chance to get in on the digital currency's surge without having to take possession of bitcoins.
The trust often doesn't accurately track bitcoin's movement and trades at a more than 100 percent premium to the underlying asset.

http://www.cnbc.com/2017/06/08/this-bitcoin-investment-vehicle-could-be-a-disaster-waiting-to-happen.html

There is a 100% premium to the underlying asset, because people are desperate to get into Bitcoin and don't know how.
They see this trust as an investment option and do not really care about the premium.

Quote from: Sniper44 on June 03, 2017, 03:22:57 PM

bitcoin price changes mostly because of events, for example we had halving last year as the biggest thing and this year the Japan news which keeps coming out.
the fact that similar events happened at similar times doesn't mean they will continue to do so.
for example we have the scaling debate still going on and it may come to a conclusion finally and with this UASF thing, price can go wild for a while. and that is going to be new.

Sometimes, changes in Bitcoin's price are due to no reason at all.
People expected the decision on ETF to have a big impact on the price. It didn't. The price just kept increasing although the ETF was rejected. Similarly, although there is no headway on the blocksize discussion, the price has still increased.