January 28 2017 was the first day of Chinese Lunar New Year of Rooster. Hundreds of millions of Chinese travel back to their home for a family reunion. During the week-long holiday, one way of expressing their affection is to present Red Envelope, aka Hongbao, to their loved ones. The Red Envelope usually contains certain amount of money, amount of which depends on the intimacy of relations. Aside from the usual Wechat red envelope, Bixin bitcoin envelope and Wechat gold envelope are debuted in 2017 Spring Festival. http://news.8btc.com/could-bitcoin-envelope-overtake-gold-envelopeDistribution of a bitcoin envelope is not something new. It has been bandied about, probably ever since the birth of bitcoin. Here is a discussion on it way back in 2012 https://bitcointalk.org/index.php?topic=85649.0But I doubt if it would ever overtake gold. |
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As I had encountered that day by day more people are joining bitcoin inspite of its sky rocketing price and day by day more and more government and other agencies are coming against bitcoin so will bitcoin stay alive and will it be able to invite new user in the network?
It is but natural for new people to discover Bitcoin and be attracted by its properties. It doesn't matter what various governments try to hinder its adoption. The march of progress cannot be stopped.  |
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I dont know about everyone else but I made 3 transactions today and all of them got 3 confirmations in under 30 minutes. I never thought I ever had a transaction happen that fast before.
Unconfirmed Transactions were very low around the time of your post , less than 4000. But only a few hours later and the Unconfirmed Transactions have increased back up to 19590 Unconfirmed Transactions. So it is getting slower already. Always check https://blockchain.info/unconfirmed-transactions , before sending BTC , the higher the # the longer the delays. Anytime the number is 10000 or below , BTC runs at normal speed.  41,379 unconfirmed transactions now, according to blockchain.info. You don't need an attack for a transaction backlog these days. Unless the blocksize is increased, or segwit is implemented, we are going to have to get used to large confirmation times / high fees. |
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Coinbase Could Pay $1 Million in Legal Costs Fighting the ‘Broad Subpoena’: I think this is truly unfair for them. A company should not be held responsible for its users' responsibilities. I mean this story is way worse than the Iphone/FBI unlocking one.
I'm not a big fan of exchanges but I'm for Coinbase on this one.
These kind of cases are best fought by the industry as a whole. Coinbase might have been targeted here, but a victory in its case against the IRS would benefit all exchanges. It makes sense if exchanges pool resources in this legal battle. |
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I dont see a lot of strength in the rise, maybe its just the start and we have an all time high, or we go further down than 900, we will see shortly. But this rise is more steady
The volumes are pretty high - at around $150 Mn. And this is after the fake chinese volumes have been eliminated. When we rise with strong trading volumes, a support base is usually formed at these levels. |
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I dont think that we can ever make governments accept bitcoin, it will always be a rival to the current fiat system, well until it is defeated..... There are inter-government rivalries at play as well. Iran may have a vested interest in accepting bitcoins, rather than US dollars. That is the only reason why I see some governments accepting bitcoins. |
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This Digital Ambassador seems to have a role of only soothing relations with tech companies. For all you know, he could have played the same role and be called Technology Secretary. Sounds more like a gimmick to me. |
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For now the price is rising up but not that fast. This might be healthy for bitcoin price but I do expect some correction again or a dump soon enough if there will be a whale or two that will do profit taking. If that were to happen, price would drop a little depending on how many whale will dump. Its also possible that they will wait more before dumping so let's just see what happens.
Regardless of whales looking to dump, the current levels have proved to be very difficult to maintain as the market at this point still feels uncomfortable at the time the price hovers above the $1000 levels again. I think it will take at least another month or two before the level of resistance gets lower where after that the chances of settling above $1000 will become more likely. Patience is the key here. It's just a matter of time before we comfortably settle above $1000 for more than just a short time as we have experienced so far. I don't think there is a lot of resistance now. We have moved over $1000 and remained there for a day. While we haven't broken out to the moon, we didn't see profit booking/selling as soon as we crossed $1000 |
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Japanese merchants accept Bitcoin. The land of Rising Sun is planning to attract more than 20 000 merchants. According to bitcoin payment system ResuPress (RisurEs), the number of trading platforms accepting Bitcoin will increase in 2017. Through a partnership with E-net Systems Co an energy company in Japan, ResuPress has already enabled Japanese users to pay their electricity bills with the cryptocurrency. You can read and watch more news here: https://coinidol.com/koles-coin-news-digest-feb-2/Payment processors can play a good role in increasing bitcoin adoption, but the key feature of Bitcoin is to cut out the middle men in transfer of value. If you replace a bank by a payment processor, it really doesn't help. |
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There are a lot of holders who would be ecstatic if this does happen. But it does appear to be wishful thinking. Draper sure is holding a lot of bitcoins and it makes sense for him to 'talk the price up'.
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According to various sources, a Federal Reserve employee was caught using the central bank’s internet server to mine bitcoin. Nicholas Berthaume, who worked for the Federal Reserve Board in Washington, was sentenced to a year of probation and fined $5,000 for using unauthorized Bitcoin software on a federal server.The Inspector General for the U.S. Federal Reserve revealed that the former analyst connected to the bank’s network to earn bitcoins. Berthaume was charged with illegally running unauthorized mining software on the Fed’s server from 2012 to 2014. Read More Here: https://news.bitcoin.com/federal-reserve-employee-mines-bitcoin-using-the-feds-server/ It has taken such a long time for the Federal Reserve to bring him to book? Especially when he compromised network security? That doesn't reflect too well on the Federal Reserve. |
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Just the opposite OP it facilitates crime. Have you ever heard of Silk Road?
You mean the Silk Road, which appeared in the Golden Age, and served as a transport route across Eurasia? Nothing can prevent crime, that is sad truth. There is too many people who wish to earn a lot without hard work, they turn to criminal because there is high risk of losing freedom but profit is also high with minimal efforts. Bitcoin is just a currency, and bitcoin cant prevent people from using this currency for their needs, whether they are legal or illegal. If the risk of getting away is minimal and the penalties are high, criminals will think twice before committing crimes. The question is will Bitcoin aid in that? I don't think so unless its adoption is universal. |
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Trump supports the American worker:
An investigation by USA Today has found that more than 3,500 lawsuits have been filed against Donald Trump and his business entities over the past 30 years. According to the paper, hundreds of former employees and contractors have accused Trump and his businesses of failing to pay them for their work. Victims have included a dishwasher in Florida, a glass company in New Jersey, a carpet company, a plumber, 48 waiters, dozens of bartenders at his resorts and clubs, and even several law firms that once represented him in these labor lawsuits. According to U.S. Department of Labor data, Trump’s companies have also been cited for 24 violations of the Fair Labor Standards Act since 2005 for failing to pay overtime or minimum wage I have just one question, why is he not in jail already? Other than that, it strongly reminds me the tragic history of Michael Jackson who was accused in child sexual abuse many times by those who were just wanting his money, not justice (provided there was any case for it). Obviously, Trump is not Jackson, and he can't be bullied in this way. When someone becomes a celebrity (or a president of the US), there are always a lot of women claiming that they had a baby with that person or that they were raped by him and similar things. I don't say that Donald is an angel, and some of these stories might in fact be true after all, but why everyone and his grandma started talking about them only now? You're comparing apples and oranges. Civil and criminal cases are handled differently. Michael Jackson was a sick, twisted pervert who's mind was destroyed by his ruthless, money grubbing father - criminal case. Donald Trump was the executive in charge of businesses that brutalized other businesses and his companies employees - civil case. In criminal cases the individual is held ultimately responsible because they performed the action in question but they can sometimes get out of incarceration with a civil settlement. In purely civil business cases the company is held responsible and on rare occasions the executive is punished but the punishment is seldom incarceration, it's usually monetary. In both civil and criminal cases protracted appeals and continued litigation can "wear down" the opponent and cost them more money fighting than they stand to gain from the continued battle. Welcome to the worst failure of the American legal system - the system itself. Funny, You had no issue with Obama ties with the Chicago Mob. https://nalert.blogspot.com/2008/01/political-corruption-behind-barack_06.htmlor The Clintons selling US Trade secrets to China for Campaign contributions. Or the Fact that Bill Clinton was a serial Rapist. You have a very selective set of morals there. All politicians are immoral. We just have to vote for the lesser evil. Choose the candidate whose actions are likely to favour you. |
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Bitfinex’s Hacked Bitcoins Are on the Move; 5% Recovery Bounty OfferedBitfinex has confirmed that 876.82084947 stolen bitcoins have moved with Scorechain, a Bitcoin and Blockchain compliance & regulations firm, publicly stating 153 BTC, worth around $137,000, was moved on January the 25th and another 723 BTC, worth around $800,000, moved overnight. Chris Ellis, a Bitfinex Community Liaison employee, publicly stated: https://www.cryptocoinsnews.com/bitfinexs-hacked-bitcoins-move-5-recovery-bounty-offered/ If the hacker really wanted to use the money, he would just launder it through any of the mixing sites available. If there was no way to find out additional information about the hacker, I doubt if things are going to happen just because a 5% bounty has been offered. |
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Were people that naive to believe their fake volume? or maybe their own people really are naive, because no matter what it was obvious from miles away, now how funny that is even though they faked the volume network didn't have issues regarding transactions The idea of a fake volume is still being investigated and not yet verified, whereas the community is large enough to have such volume. They have quite enough crypto enthusiast, If they complain of the volume of Okcoin what of other china exchanges There is absolutely no doubt that earlier volumes were fake. The only reason why those exchanges could put out such volumes is because of the zero transaction fees. Even bitcoin info sites like coinmarketcap.com use to ignore the volumes of those chinese exchanges. |
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Besides the ~2%+0.30cents basic rate credit card charges.
Let me hear your thoughs.
I would be willing to pay up to 5% for small purchases, purely for the convenience factor. For larger purchases, I think it would be best to buy off an exchange. |
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Don't listen to people telling you what to do, I only suggest that best thing would be downloading electrum wallet, generating 30 addresses getting their private keys printing them on a paper and saving the addresses on a text document (note pad) sending your coins to a mixer and asking them to deposit 1 bitcoin to each address you are giving them. After doing so you could keep doing that making sure no one will ever be able to link you to those coins, also don't worry too much about the safety of your bitcoins after doing what I suggested because in case of unauthorized access to any coin stash there are much bigger fishes than you  Don't forget to uninstall electrum and every file associated in hidden appdata folder assuming you have windows. I agree with the electrum bit, but why do you need to print private keys on a paper? Just make a note of the seed and you are just as secure. |
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India, like China, has limited capital account convertibility. While this could be a possible use of Bitcoin, the bitcoins market in India remains small and isolated from other countries. That is one reason why Bitcoin sells for a premium in India.
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i cannot find any info about huobi. does anyone know what is going on?
edit: i´m not suggesting they went offline. huobis trading data seems to be not included on various sites like bitcoinity. don´t panic. but still fishy.
They are still being updated on coinmarketcap.com. http://coinmarketcap.com/exchanges/huobi/ |
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In my opinion, on few years we will see new digital coins (developed by central banks), and will exist some cryptocoins developed for different uses, and in this new ecosystem bitcoin could be the new gold standard. I think that every year bitcoin will have more shops and companies accepting it.
That could be a viable new system, but central banks / governments would be reluctant to have something as inflexible as Bitcoin as the new gold standard. If Bitcoin finds universal acceptance among people, then they will have no choice. |
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