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1261  Economy / Service Discussion / Re: investment losses on: January 26, 2017, 10:50:28 AM
It is usually very difficult to recover money from online scams.
Keep in mind that the legal process is time consuming and expensive.
Unless you have invested a substantial amount of money, or you can get together with others to file a tort suit, it won't be feasible to take the legal route.
1262  Bitcoin / Press / Re: [2017-01-24]In the Battle Between Google, Facebook, and Amazon Against Banks: Bi on: January 26, 2017, 10:28:47 AM
“Italy’s banks are struggling under the weight of a 360 billion-euro mountain of bad loans, a plight that has eroded profitability and undermined investor confidence. The nationalization of Monte Paschi could be followed by rescues for lenders including Veneto Banca SpA and Banca Popolare di Vicenza as part of the government package.”
This is what you get for toying with fictional money and lending it to people. Creation of money from thin air & economy based on debt is not sustainable in the long run.
I am waiting for the day when general masses will realize that and withdraw all money from banks. It will be the day Bitcoin will reach 6 digits.

This is what every country in the world does. Countries abandoned the gold standard a long time ago.
This system has lasted for hundreds of years and most people believe it will last a lot more.
1263  Economy / Collectibles / Re: How many Casascius owners out there? on: January 25, 2017, 05:20:02 PM
I thought it was just another altcoin. When i saw it from collectible section. Its a physical coin. Its pretty cool and pretty expensive too. You can see sample in this thread https://bitcointalk.org/index.php?topic=1763648.0
You can see more at collectible section.

It is expensive because it is not being made any more. Anything which is limited in quantity and is in demand goes up in price.
If the US government hadn't shut it down for operating without a money transmission licence, there would have been a lot more Casascius coins out there.
1264  Bitcoin / Bitcoin Discussion / Re: Running 24/7? on: January 25, 2017, 05:16:22 PM
How do you measure the temp of your computer? I run it non-stop, but shut it down every 2-3 days to just cool it a bit. I am running an old dell machine and I am not too worried about it.
1265  Bitcoin / Press / Re: [2017-01-24]In the Battle Between Google, Facebook, and Amazon Against Banks: Bi on: January 25, 2017, 05:14:03 PM
The banks definitely are on the losing side. The banks of today are complacent creatures, protected by regulation. Even if social media giants like Facebook and Google turn out to be winners, I doubt if Bitcoin would benefit. These companies would just use their own currency like facebook credit.
1266  Economy / Speculation / Re: You'll sell at the bottom on: January 24, 2017, 01:17:44 AM
When you decide to sell, be it today or tomorrow or whenever, chances are you will sell at the bottom. This will cause you massive depression, way worse than not selling at the peak to rebuy cheaper.

Buy and hold, or risk selling at the bottom and losing your position.  After this dip stabilizes, we are going $2000.

If you do want to exit, sell a portion of your coins at regular intervals. You will average out your selling price then.
If you are a long-term investor, don't try to time the market by selling and then trying to buy bitcoins, Just hold.
1267  Bitcoin / Bitcoin Discussion / Re: Markit manipulation in China or ... on: January 24, 2017, 01:11:36 AM
In ordinary cases, this would be the classic example of cartelization. However, in this case, transaction fees have been proposed after the PBOC did spot checks on the exchanges. The government seems to have gently nudged them.
So who do you go to if you want to complain against these exchanges?
1268  Economy / Service Discussion / Re: Bitcoin at 400+ merchants on: January 24, 2017, 01:03:46 AM
It is important that you mention that their customer service is good. Hopefully it won't lead to problems like this
https://bitcointalk.org/index.php?topic=1760333.0
1269  Bitcoin / Press / Re: [2017-01-23]China’s major Exchanges officially begin to Charge 0.2% Transaction on: January 24, 2017, 01:00:51 AM
If you look at how popular the margin aspect was at these Chinese exchanges, then I wonder when the first non Chinese exchange will take over their traders. They can basically start to offer exactly what Chinese exchanges were offering, which is zero fees for their regular trading. But then again, I think due to the effectiveness of these PBOC sanctions, it will be just a matter of time before even non Chinese exchanges will be subject to the same regulations. But yes, we'll see the real impact somewhere in the coming weeks, perhaps months.

Non-Chinese (or international) exchanges will find it difficult to attract Chinese customers because of the capital controls in place. Chinese bitcoin users will find it impossible to deposit or withdraw yuan from these exchanges. So the Chinese will have to get used to transaction charges at their bitcoin exchanges.
1270  Bitcoin / Legal / Re: Money laundering via BTC on: January 23, 2017, 01:32:22 AM
Bitcoin being used to launder money is a media myth.
Like Trump being a nazi.
 Smiley

Ha ha... There are people who launder money using bitcoins, just like they launder money through every single avenue available to them. The problem is not Bitcoin, the problem is money launderers.
Trump being a Nazi is a plain lie that some media outlets would like to believe.
1271  Bitcoin / Press / Re: [2017-01-22] QE and Capital Controls Create Worldwide Demand for Bitcoin on: January 23, 2017, 01:29:59 AM
Capital controls create an immediate demand for Bitcoin as it can be used to circumvent it. Quantitative Easing - I am not so sure. It would only result in a decrease in purchasing power of your money after a prolonged time. So I doubt if people are flocking to Bitcoin due to QE.
1272  Economy / Speculation / Re: Dead cat bounce, dreams shattered again. on: January 23, 2017, 01:28:20 AM
I bet many delusional bitcoiners were thinking we were heading for $1000 again.
Fundamentals are still flawed and not being fixed, there is no support in the orderbooks, forget $1000.
To maintain $1000 i think we need many more smarter and wealthy people to be invested in bitcoin, which they won't because it's not smart to begin with.
We are going back down to 2014 values as there is nothing to hold these prices once the manipulators are done taking your dollars!

See you at $500.

We are headed back to $1000. If you thought that it would be achieved in a few days, then it would be greedy.
Just because Bitcoin has declined by 1% yesterday doesn't make the rebound a dead cat bounce.
1273  Bitcoin / Bitcoin Discussion / Re: What would happen if BTC was Banned? on: January 19, 2017, 05:50:26 PM
If this happen, i think bitcoin price will increase significant

That's unfair, if banning is done sure a loss in the user profile happens. This will decrease the demand and will have larger supply, which tends for price fall rather than increase in price. So for growth increasing users and increase in adoption periodically is a must.

Things which are banned always sell for a premium. When prohibition is in place, alcohol sells for a premium in the black market. So the laws of supply and demand can work in mysterious ways.
1274  Bitcoin / Press / Re: [2018-01-18] Bitcoin: Why It Now Belongs in Every Portfolio on: January 19, 2017, 05:48:41 PM
I have people who are far away from the fields of technology and finance - like doctors, ask me about Bitcoin. Whether or not it makes it to every portfolio, it has certainly piqued interest.
1275  Economy / Speculation / Re: Right Time to Buy BTC on: January 13, 2017, 02:21:05 PM
You know in the start of previous year 2016, bitcoin was at $300 and than i bought 5 bitcoins, and now recently, i sold them, and i think, i am lucky one, because i get profit from them only holding them. But now bitcoin still have a valuable price. That's why i suggest you, now should wait, because i think may be bitcoin more down, and than you should buy. But it is my thinking, if you want to buy, so that is your choice.   

You may get lucky by timing the market, but is that the right strategy for everybody?
If Bitcoin had soared to $2000, you would look foolish.
If you believe in the long term potential of bitcoin, hold.  Smiley
1276  Bitcoin / Bitcoin Discussion / Re: Bitcoin is the reserve currency of the Knowledge Age on: January 13, 2017, 02:18:38 PM
I don't think Bitcoin will be THE reserve currency, but it is certainly beoming a reserve currency. I'd include it with gold, silver and the emergent copper holdings of physical metal. Also, I'm starting to think that domain names may also become a reserve currency, however, the centralisation of registries, and the difficulties in valuation make this a bit of a specialist investment.

There are multiple reserve currencies - the Chinese Yuan recently become the fifth one. The term 'reserve currency' and 'special drawing rights' are used by the IMF and we can sure that such multilateral organizations won't consider Bitcoin. Bitcoin can become the de-facto reserve currency of people, not the reserve currency of governments.
1277  Bitcoin / Press / Re: [2017-01-12]EU Planning a Database That Link User IDs to Cryptocurrency Wallets on: January 13, 2017, 02:13:47 PM
The European Union is planning a database that will assign every cryptocurrency wallet to its holder’s identity. After recently being hit hard by Terrorist activities, the EU believes a lot of the funding for terrorism is done anonymously through bitcoin.

The current anonymity means you can send payments to a wallet without your identity being known. With the planned move of the EU, this won’t be the case. EU governments will be able to attach a user ID to every transaction done within the EU zone for incoming and outgoing transactions.

You can read the full article here: https://coinidol.com/eu-planning-a-database-to-link-user-ids-to-cryptocurrency-wallets/

This is just wishful thinking. The best they would be able to do is impose regulations on companies involved in cryptocurrencies.
How are they going to link Jee Yung in China to his wallet, through legislation enacted in the EU?  Smiley
1278  Economy / Speculation / Re: $1000: New floor? on: January 12, 2017, 03:18:47 PM
No we have a glimpse of how volatile and whimsical bitcoin market really is. A week ago triumphant march to victory, price was skyrocketing.
And now look. At first sight of regulations Chinese whales liquidated their holdings and price is crumbling. As long a China is 'in charge' of bitcoin trading we may never see new ATH again.

We will eventually see an ATH. I bet that it will be in 2017.
The rally during end-December was too fast, but the upward trend will soon resume.
1279  Economy / Speculation / Re: ➚➝➘ 1[btc]➔$1000 EXpensive or Not?? on: January 12, 2017, 03:07:32 PM
After that the price of bitcoin reached the top for over $1000 a price that is not within the reach of everyone and that lets the bitcoin far from being a universal currency because it seems too expensive for more than 80% Of the world population which can not obtain such a sum even by accumulating all their annual income, other people who have acceded to this currency would say that $1000 is not yet the real price because the real price is much higher than that .
We experienced this situation in the end of year 2013 where the prices reached the same value but with a less number of peoples and bitcoin and the following was the sudden drop of prices which were less than $500 in most of the year 2014 and less than $ 200 in some period of the same year but which has allowed other people to join the bitcoin community , so I wonder if the year 2017 would be the year where we will see the largest number of bitcoin User or low prices or both?

I agree that some people are put off by the price, but that is psychological more than anything else. If people can't buy bitcoins, then they should buy satoshis. This is one of the reasons why stocks are split or bonus shares are issued.
1280  Bitcoin / Press / Re: [2017-01-12]China's Central Bank to Conduct Ongoing Bitcoin Exchange Visits on: January 12, 2017, 02:56:16 PM
Just days after it was revealed the PBoC's Beijing and Shanghai offices had visited the country's three largest exchanges by volume, the central bank said today that it is pledging to better engage with BTCC, Huobi and OKCoin through continued on-site inspections or meetings.

Continued on-site inspections doesn't send good vibes. The market could interpret that as constant surveillance and a sign that the PBOC might take further action. China won't be driving the next rally.
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