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Why is this Christmas correction? It's even not December 25th yet, maybe bitcoin be able to recover two days later, back to $20,000 as the new base level. At current market situation, will make sense for traders to sell at the peak and buy back in the dip but both of it already passed when bitcoin reach $20,000 and fall to $11,000. Hard to predict whether the price will rise or fall in the next few hours, it just happens suddenly without warning. For a layman which just get into bitcoin-world, it's better to hold instead if panic sell.
But, if you are a trader, it's a perfect time to make profits as the market price fluctuate a lot, just make your bet whether to buy or sell.
However, people who can hold bitcoin for months will make more profits more than short-term traders. A different story if you trade altcoins, you know why.
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Bitcoin created to be an alternative currency due to many flaws and limitations in the system of fiat currencies. Yes, transactions using bitcoin between two parties is possible as long as both agreed to use bitcoin as a medium of exchange. But currently, there are some problems regarding blockchain network to transact using bitcoin. On the other hand, bitcoin price increases significantly in the last few months, the temptation to get profits seems inevitable for most people, that's why if you don't want to sell your bitcoin, do not keep it in exchanges and just use web wallets and you will find it difficult to send bitcoin into exchanges. However, only a few countries that have merchants, business or companies accept bitcoin as a payment method, especially in Japan. Most people can't spend bitcoin directly due to there are no any merchants accept bitcoin nearby. There's another problem; some central banks or financial authorities stated bitcoin as illegal currency as long as there's no any regulation which regulates bitcoin can be used as means of payment. So, if you live in one of those countries, just do it in secret.  |
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if i set it to 359 sat/byte it cost me around 0.004 BTC
something is wrong
Yes, something is wrong with blockchain network. Too many unconfirmed transactions, mempool get flooded, which cause the network ask for higher fees. The fastest and cheapest transaction fee is currently 990 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 223,740 satoshis.
For median size, you have to pay BTC0.0023 for the fee. It's better not to transact using bitcoin at the moment. |
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Bitcoin has some advantages over fiat currency and this is one of the triggers which cause the spike in bitcoin adoption in Nigeria;
Manasseh Egedegbe, a Nigerian investment manager, recently told media of his decision to use bitcoin in 2016. After Nigeria’s central bank enforced strict capital controls designed to limit the use of U.S dollars throughout the nation. Mr. Egedegbe then turned to bitcoin, stating “I was able to use bitcoin to do just one transaction and then I got hooked.”
Every time, if there is an economics problem or political issues in a country which causes inflation, people will look at an alternative currency such as bitcoin, it has been proven works in Venezuela and Zimbabwe obviously. Whether now or later, bitcoin will always become a savior if such problems occurs.
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December 20, 2017, 02:10 AM
For today, bitcoin price; $16,900
I believe my last prediction for December 20th was $16,900 but in spreadsheet listed $19,600. Well, that was my prediction for December 19th Pretty sad, missed the time for today.
But, just guessing
December 19, 2017
Bitcoin price: $19,600
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Most people are now busy preparing for Christmas. Buying gifts, attending parties, etc. I myself did a lot of profit taking to be able to celebrate the holidays in style. Would love to give bitcoins as a gift.
It's true that some people will sell bitcoins or at least some satoshies to have some extra money for the holidays. But I don't think that would be such big amount to influence the demand and supply ratio and the price in some significant way. So, I don't expect some huge price drop and disturbance on the market, usual volatility and nothing to panic for. Regarding the gifts, some bitcoins as a gift would make me very happy too.  That's the theory, but the fact bitcoin price still increasing by the end if the year, despite the fact that many people sell bitcoin for Christmas party, buy gifts, foods, etc. What makes the price declining? Simply because the network can't afford current transactions, too much unconfirmed transactions and ridiculous high fee to be paid, the mempool just stuck at this point. And there are some options to invest or use it to move the funds without having a problem such as in bitcoin, there are bcash, eth, dash, and litecoin as better coins, just to allocate the funds before getting back to bitcoin again. Don't worry, it just the time matter until bitcoin rise again. |
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I bought in yesterday - $300 @ $1.5 just to get my feet wet. After seeing things starting to work and seemingly ok I decided to add another $500 and to my surprise the price had gone up to $2.2. I still bought though. Seems like everybody is running out, so better not wait. Regarding the structural changes, I guess it is to be expected as demand changes. Still seems like a pretty sweet deal, if you believe in btc.
Since their competitor, bitcoin contract from genesis mining is out of stick, people don't have any other choice but believe in hashflare and try it for a year contract. However, is it still the cheapest contract for cloud mining? Maybe yes. But suddenly increase from $1.5 to $2.2 is a pretty big amount, consider the risk of mining with hashflare, is it still worth? as bitcoin price fluctuates a lot, they may see it the chance to get more bitcoin due to there are a lot of bitcoin fees out there, over BTC63, strange; as I have seen it BTC832 total fees an hour ago. |
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How related are transaction fees and transaction / network performance?
Network performance? Whenever mempool get flooded by hundreds of thousands unconfirmed transactions, the fees increases, due to blockchain can't afford too many transactions/sec. Maybe bitcoin really need bigger block size, or lightning network can be solved this problem. Fees have become insane since I started with BTC in 2013. Micro-transactions no longer make sense. I am a miner(pool), and have mined since 2013. What is driving these transaction fees so high? Is it performance/efficiency issues?
If you have been in crypto-world since 2013 especially for a miner (pool), you should get used to it because it's a repeated cycle. If so, are there more transactions than the network can handle? What if we actually helped people run full nodes, would that help? Where is there hope for this situation?
No hope for this situation, just waiting for another scale solution to be implemented. |
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I'm looking for Developers, Investors, and marketers to build on the platform BitcoinGreenWallet.com
An 'eco-friednly' secure, a
I appreciate your intention to create a wallet platform, but what is it "eco-friendly"? Honestly, what can you do to develop this greenwallet? As you are looking for developers and investors at once, at least you should have funds to get started without need investors to develop new wallet platform. However, I'm waiting for this greenwallet to be created, seems interesting. |
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Ahh, seeing all this pump makes me wondering; why I didn't invest in those coins? . Although those are shitcoins but look at the profit that you may get, very tempting. BCH suddenly get pumped over $3000, didn't realize it before but it's surprising, even BTG rise a bit. Cryptocurrency market in bulls run right now, whether we like it or not, those coins prices could tank and increasing, set a new level of prices. Eth, dash, litecoin are in the game following bitcoin, whenever bitcoin decline, these coins may get pump again. The reason is obvious; Others have attributed the success of altcoins to the scalability issues of bitcoin and the lack of Segregated Witness (SegWit) integration by businesses. Leading wallet platforms like Blockchain and Coinbase, along with bitcoin transaction fee prediction platforms have been recommending a transaction fee in the range of $10 to $30, due to the state of the bitcoin mempool, the holding area of unconfirmed transactions
Ridiculous high fee due to mempool seems overloaded, too many unconfirmed transactions while Segwit implementation is not enough to afford current market demand. |
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Current price based on coinmarketcap;
Bitcoin $17, 220
Ethereum $803
Bitcoin price seems decline since yesterday more than $3000 from $19,500 to the bottom line of $16,100.
On the other hand, ethereum price getting stronger over time and may reach $1000 in this month.
So, it's better to wait for a little longer until bitcoin reach $16,000 to buy it, but it's a good time to buy ethereum.
For the start, prefer to invest 50% in ethereum and wait until it reaches at least $1000 before extract your profits.
Then, if you can wait for a long time (>6 months), bitcoin is the best option for invest another 50% of your funds.
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December 20, 2017, 02:10 AM
For today, bitcoin price; $16,900
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Bitcoin still cannot contribute something significant to the global market.
An easier way to transfer funds everywhere? Yes, but consider the fees, it's not the best option, PayPal is better.
Currently, bitcoin being used as an investment, people just care how to earn more profits in the future as the price constantly increases over time. Well, since many investors join into crypto-world, investing their wealth which causes the funds spread widely among people who trade bitcoin, consider this as a good thing in cryptocurrencies because I experienced it as well.
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Ebay, amazon and other companies like them will never accept bitcoin. The main reason:
1) There are a lot of scammers in the bitcoin sphere and we know that already. The issue is that is someone is scammed on eBay, for ex, Tony buys a laptop from George. George gets the $ on paypal immediately, but never ships the laptop. After a week or 2, Tony makes a report on ebay, which then takes the $ in George's paypal account to give back to Tony, while also suspending George's account. However if someone were to get scammed after paying Bitcoin, there is nothing eBay could do to get their bitcoins back, as bitcoin is nonrefundable(which is a huge issue when it comes to adoption). No one wants to know the money they spent and got scammed from is gone forever, with nothing they could do to get it back.
Now, some of you may say, "Well you can use an escrow system to accept Bitcoin, you know like they do on drug markets on the darknet". That may work on smaller mutlivendor marketplaces, but I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.
And that's besides Bitcoin's extreme volatility and slow confirmation times, etc
First, bitcoin does not need eBay or Amazon, credit card or PayPal works just fine for these platforms. In every e-commerce platform, using escrow in every transaction is a must even though it takes few days for a refund if the transaction cancelled. It's better than not using escrow. Actually, the big problem for bitcoin to be accepted world-wide is scale problem. Bitcoin can't afford too many transactions every second, higher fees and long confirmation time. |
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Pretty sad, missed the time for today.
But, just guessing
December 19, 2017
Bitcoin price: $19,600
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Bitcoin is a better currency than any other currencies in the world, despite the fact it's volatile and still has to be upgraded for scale transactions. Since bitcoin has some features and advantages over other currencies, which encourage people to invest in bitcoin, especially because the price which constantly increases over time which makes it a better investment for long term.
Since bitcoin has been legalized in Japan, people can easily trade bitcoin or just use it in daily transactions. Yes, bitcoin is better than yen and should be used as an alternative payment method instead of just become a trading object which causes people have to pay capital gains.
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Another shot for the end of the day.
December 18, 2017, 02:16 AM
Bitcoin price : $19,800
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December 17, 2017, 02:16: 40 AM
Bitcoin price prediction: $20,050
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Not just somebody but many people obviously, early investors who believe in bitcoin and holds for years will get bigger profits more than some people who keep saying bitcoin is a bubble. The theory is simple; belief in bitcoin and keep holding, treat it as a digital currency that can be used as a medium of payment, a better monetary system compare with devalued fiat currency.
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LOL
Definitely sounds like something a ponzi scam would say. I'm totally convinced hashflare is a ponzi scheme now.
Consider these things:
- They have seeming unlimited scalability (which is not possible in the real world).
- No pictures of there datacenter mining Bitcoins. Only pictures I see are with GPU mining and still a small operation at best in those pics. Every "real" Bitcoin miner knows you can't mine with GPU's.
- Company is in small remote country of Estonia. What recourse do you have if things go wrong? Why no office in one of the major countries?
- Google street maps show the company sharing an office in a building in Estonia. Again, where is the datacenter?
If I'm wrong, here is an idea to prove they are legit:
- They show their Bitcoin mining divided among 3 pools by default. Can we verify their presence with those pools?
I'm not sure about it, since hashflare has been around for 3 years but it's nothing without legit evidence about their mining equipment such as genesis has some videos about their mining farms. I totally understand if they want to keep their location in secret, but at least there should be some proofs about their mining activities, in order to convince people to trust them and not consider hashflare such as ponzi scheme. |
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