Latest posts of: audaciousbeing

Quote from: Msworld83 on August 26, 2018, 11:50:31 AM

Bitcoin since touched $5800-6000 area has not really clear to many if we are in bull market or it just a mere run to make noobs or newbies FOMO, and looking at it TA which shows it has not been on same lane even with FA but many says it's manipulation and crossing $5800 area below has been a major support but many think it should break it, so am wondering if we are getting close to bull market or we are just in swing market for now.

Every activities that happen in crypto does not necessarily have to be seen with suspicions. When the price was going down, its about the whales and other ridiculous reasons that we have seen in addition to the skepticism on whether its the right time to buy and even those who are of always asking if its the right time to enter the market but still didn't take the action by seeing it as an opportunity to get into investing.

Now that the price is increasing again, its another round of questions and suspicions all over again blaming the same people that we are being deceived into investing and the upward might not be real. But what other real evidence do we want to have if its not reflecting in the price. The market is not for people who continue to ask questions, because while they are looking for answers, others are acting and reaping the benefit of their actions to the maximum.

While it remain unlikely that bitcoin price would touch $10,000, I still believe its possible before the year end. The last quarter of year is expected to be a rallying point where people would want to invest with the option of making significant return at the end of the year in other to have a fun filled festivities. Aside from that looking at the current price, $10,000 is not far away to make it seems a miracle would be needed to achieve that feat with a gradual increase in activities of the market, its very much possible and even can be surpassed.

Quote from: Wind_FURY on August 28, 2018, 06:23:04 AM

I encouraged all of you to impelement and use Segwit last year to reduce fees and make your hot wallets more efficient. Plus because I believe Bitcoin's gambling industry is the most active of all, I want to revisit this topic.

For all gambling sites that have implemented Segwit, how is it? Has it lowered your withdrawal fees, having more savings for the site? Are your withdrawals faster and more efficient? How much of a difference does Segwit make from legacy?

This is more of a survey targeted at owners of casinos and gambling sites as against the players on those platforms. As a player, I can only feel the effect in a little bit based on the amount and the number of times the withdrawals over the past one year. But on the part of the casino administrators, it would come as the total of all withdrawals and how much they were able to save for those who have migrated to SegWit as with the drop in activities, the drop in transaction fees is across board whether Legacy or SegWit. You should direct this to them in my opinion or better still if you can identify the address they use, a trace in each output would give the amount that is paid a transaction fees.

Visiting your site shows its quite detailed. However, I have some concerns here:

1. On the price listing, there are couple of services there and which I believe does not have anything to do with licencing such as hosting fees:Server purchase, Annual hosting fee with that alone amounting to £10,000, management fees relating to appointment of directors amounting to £3,750, incorporation fee amounting to £6,500, all of these put together is relating to you setting up an entire gambling site for an individual or a new site entirely but an existing site that wants to make things right won't need any of those service. So, not to confuse those prospective clients, there should be further explanation of those fees and what it actually covers. Sincerely, all these costs are on the high side.

2. Aside from the license renewals every year, what other regulations will need to be complied with by the management of the sites. Will they be subjected to periodic checks, because for the government to charge you tax, they have to be sure that you are declaring the right amount of income you claim to have earned in the year.

Quote from: freebutcaged on August 19, 2018, 07:15:54 PM

Bitcoin, blockchain, a technology which is a miracle for the gamblers.
All the people know that from the ancient days gambling has many followers, and still has many followers. during the history, human beings change any case to a fortune to fulfill themselves.
As far as there is a possibility to earn money, gamble and gambling would exist. for a long time gambling was an unreachable dream for the most of the people on earth. until Bitcoin and other crypto currencies were made. not only you don't have to leave your country or house to reach to the luxury casinos to gamble a large amount of money but also by having Bitcoin you don't have to leave your computer.

While its ok yo give credence to what bitcoin and blockchain have been able to achieve, the real acknowledgement should go to the internet because its on internet bitcoin itself thrives. Its on the same internet that allows to do everything you want to do, within the comfort of your room or without leaving your computer without that internet, you will only be stuck with some bunch of hardware that does not add any value.

What bitcoin has made possible is the privacy that comes with it and those country that disallow gambling and people needs to find a way to satisfy their thirst. In countries where gambling is allowed, you can even load your account with your ATM cards or make direct transfer without having to leave your room and your privacy still intact.

Quote from: freebutcaged on August 19, 2018, 07:15:54 PM

Find a secure online casino, send some Bitcoin to your account to win or lose thousands of dollars with a few clicks. this is the miracle of Bitcoin for gamblers, note that you don't have to provide any identifications, of course you must know that those casinos who ask you for identification they are casinos which are supported by the governments, though, those online casinos which support decentralized crypto currencies would never ask you for any identifications, because they respect your privacy.
to bitcoin and blockchain.

Its pretty much the same for every online gambling even those powered by fiat, its on the basis clicking that you either win or lose so nothing special here. On the identification issue, that is gradually changing because crypto powered gambling sites are not going after the licenses provided by government agencies to legitimise their operations.

Quote from: Bitchef2112 on August 28, 2018, 01:34:43 PM

Hey guys, so i've read a new report on how much of the exchanges volumes are just wash trading and the numbers are way too high for what real users do>.

This is pretty concerning, since the market might not be nearly as stable and mature as we think, it might all be manipulated.
What do you think of the current state of big exchanges and price manipulations that we experience?

my source: https://www.blockchaintransparency.org/reports/

The report actually comes with something to ponder about really because it initially provided an overview of what the methodology that is used compared to the current one how its believed to be the right one to bring about transparency to the market. It is not out of place for exchange sites to have be involved in some form of mop up in other to show some view that is different from the actual happenings, to me, its not a determining factor to conclude that the entire market is being manipulated and to give one a need for concern for the following reasons

1. The report only focus on a means of data gathering believed to be truly transparent, but this model has not been generally accepted anywhere to be the right way to go about this. Which means if another research is carried out tomorrow using another methodology, it renders this one useless.

2. I didn't read from the report that a response is solicited from exchange sites accused to be involved in the alleged shady behaviour to hear their own side of the story before going out publishing what its felt to be right which could be as a result of not getting the right information.

Quote from: nmht on August 27, 2018, 05:12:34 PM

Thank you very much for the replies

I am residing in Germany currently.
I registered an account on paymium, which allows withdrawals fortunately as long as the account is verified, which I just did.

But they said that if the amount I receive is too high, they may ask for a proof of origin: i.e. - Notarial act if they were received as donation,
How would I proceed in this case?

If you had not received it there, then you should have consider the options of peer to peer site such as local bitocin, paxful, reminato or any other local exchange that you have there as those platforms you would have less stress in selling for fiat because you would be trading with individuals who are willing to exchange their cash for your bitcoin. For subsequent receipts, consider this options.

Based on your current situation, there is no way out than to comply with their requirement because they won't even allow you move your bitcoin out of the wallet but I hope the site you are using is a legit one as I have not heard about it before. Wishing you all the best there is more to learn.

Quote from: nitishkumar9999 on August 25, 2018, 06:34:32 PM

We all know merit has given here for a constructive post but I want to know that if I am not good on making some good or valuable post then I can't get merit.

You see when it comes to merits its not about your own evaluation but the people who are reading your posts. Several times I have made posts that based on my opinion, should attract merit but it won't happen while at the same time the ones I don't expect, I get merit that I will have to go through my merit history to have an understanding of which of my post actually earn the merit. So, do your bit on the minimum. I have seen a one line post earn a legit merit.

Another worthy to add is that, its not only posts that people have earn merit for. Some people have added value on the forum either by bursting some scamming behavior, doing some analyses of forum statistics, campaign managing effectively, engaging in legitimate business activities etc. Put all these together, you can get merit without having to be 100% coming from posts.

Quote from: stompix on August 17, 2018, 03:09:26 PM

I think it's one stupid idea.
Basically you crypt your files and the only way to get it the decrypted is by sending a sum to an address from which those guys take a fee?
Correct me if I'm wrong but from their tiny instructions, this is all I could figure.

Besides, it's not ransomware, it's more like masochistware to me.
What if you need those files urgently and you have no BTC left? Grin

There are hundreds of ways to secure your files by encryption for free, why would you pay for this?

Sometimes, I am always taken aback about the 'ingenuity' of our so called developers in on what they come up with and called a project and I believe if there is an opportunity to raise an ICO, he would surely take it and then talk about how difficult it is to get people to invest thinking they just invest in anything. Aside from the issue you raised, what if I keep my private key, and someone access it on their server which means I willingly handed over the key to my safe room to an external party which even negates the principle of blockchain that you should be the one in charge of your wallet no matter how safe the third party is making his service.

Quote from: BitcoinArsenal on August 25, 2018, 01:23:23 PM

Fewer people are looking up the term “Bitcoin Price” on Google than at any point for more than a year. Data from Google Trends reveals that the search term is approaching historically low levels of popularity not seen since 2015.

Full article on CCN

This does not really mean anything though. Based on the way I see it, since 3 years ago, a lot of developments have happened that could be responsible for the drop in the search for what bitcoin price is. Aside from the general assumption that interest in bitcoin has dropped or because a lot of new entrants are no longer coming into the market, others reasons are because:

1. The noise is always during the period where price is on the increase and this is not the time for that and based on current happenings I would't expect anything otherwise.

2. There are several more ways to check bitcoin price without going through Google. We have almost all crypto related websites have a real time update of all major coins prices, there are several apps that shows prices in real time even convert to local currency.

3. Most importantly is the fear of going through Google because of phishing sites that could lead to vulnerability since ads sites comes first on Google.

With a market capitalization of $217 Billion, an injection of $500 millon worth of Tether represents only 2% of the entire market which to me is not enough to be responsible for the push significant enough to attract the attention that could cause the kind of controversy that was faced in the crypto world in the early part of the year.

As rightly stated in the article, this is testimony to show that Tether is not being used to manipulate the price of bitcoin. For me, I think beyond that, it really shows how difficult it is to really influence the price of bitcoin ($500 million is not a small amount of money) and more than the necessary accolades have been accorded to the 'whales' to have been responsible for the happenings in the crypto market. The point is, the majority of market participants have a lot to do in determining the price. The moment there is a surge in price as a result of some new injections, the moment the community are ignorant about it or choose to be ignorant, the effect does not matter unlike the period where everyone just continue to fall in line which is part of the reasons responsible for the all time high in 2017.

I think I have witnessed this kind of situation before but not with LocalBitcoin just one of the exchange sites we have. When they claim that there is a particular organisation in charge of my region, I attempted to do the verification the first time with details of my ID, it returned that its unaccepted, that is the moment I knew it seems this people are not ready for business and I didn't even bother to try it the second time because the moment one is entered, it goes into their database without you having the power of deleting it.

For LocalBitcoin, I don't think you have anything to worry because they comply with data regulations and even update to the latest rule concerning that. But that should not mean you should just trust them with all of your most details because they data gets leaked, they would be too proud to admit it came from them and in this era where bio-metric is the order of the day, your data if misused could land you in trouble real fast.

The beginning of my distrust with ICOs and Bounties are in the areas of ''white-list'' that they always hide under. It has gotten to the point that if I developed an interest in a particular project and I decide to check it out, the moment the information that is being asked in other to participate is invading on my privacy, I just move on without the option of coming back to check it out.

Its an open secret that peoples identity is being traded on the dark web but at least that one is being stolen and the original identity owner is not aware of but not for those who willingly gave those details because of few pennies that they would spend within few days while the whole definition of their existence is being traded to the both lowest and highest bidders depending on the circumstances.

Unfortunately, no matter how hard the message is being sounded, you will still see people engaging in these kind of activities because their identity is not so valuable to them unlike the immediate need they have forgetting that later in the future, they might even have the difficulty of proving that they are the person they claim to be because someone else has used their details.

Quote from: maarx on August 26, 2018, 09:39:31 PM

Current year has been bit worst for crypto coins. Apart from values, we have ICOs in the market with best projects. So what happened is the investment spill over too many ICOs and thus bitcoin value remained below $6.5K . This is another reason for all altcoins values remain under a threshold. Hope we have more investors pitch in investing into bitcoin.

Although there is no specific reason as to why the price of bitcoin has taken a nose dive in the current year, I believe its the accumulation of several factors that are known to us and even factors that happen behind the scenes that we can only make conjectures about without any supporting evidence for holding such position.

However, attributing the reason exclusively to the ICOs will be rather unfair because if there is any section of the market that takes the most hit in 2018, its the ICOs market where there were bans against raising fund, advertisement platforms basing their reason for suspending crypto related ads for the fraud there such as Facebook, Twitter, Google etc. the rate at which regulations has been coming hard and even the general perception even on the forum that ''most ICOs are fraud'', and I have equally seen several ICOs unable to meet the minimum target set because of all of this.

We can only hope that several happenings would be in the favor of bitcoin or the market just move one from relying on injection of funds that will not come anytime soon or else, 2019, we will still be making excuse for the failure of the market.

When it comes to issuing loans in bitcoin, the advantages cannot be overemphasised. Taking a look at the getting a loan from the bank in the same economy, aside from the exorbitant interest rate, the fees attached called management fee is something where that is deducted at source from the loan and also a drawn down of the first installment is even withheld in some case not to talk of the taxes and other charges that will arise from such single transaction. I can only imagine the struggle businesses go through sourcing funding abroad that the eventual funding that they get is always lower than reported investment.

The challenge I see here is the due diligence aspect in other to be sure that business owners make do with their promises of paying back. For those in Germany that won't be a problem but those outside the country that would need to be verified at a very expensive cost for consultants considering the cap of $50,000 at that. I see this arrangement as funding rather than loans because its more practicable than the latter.

Quote from: Esqarrouth on August 25, 2018, 11:43:32 PM

https://hackernoon.com/turkeys-economic-crisis-can-trigger-the-next-crypto-bull-run-86e53392d9bc

What do you guys think? Huh

The article rightly made some reasonable arguments to tend towards the keep of wealth in crypto currency but its not a cast and stone event that because Lira is witnessing some challenges the people in Turkey would by default switch into crypto currency. This is by no small means far from reality based on the following

1. The article made mention of retirees keeping their money in gold or USD anytime there is an economic crisis in Turkey but the main reasons why they do that is because they are sure of stability and value which we all know is lacking in crypto at the moment and reason why they didn't keep it in AUD, Cedis, Naira, Franc and other foreign currencies.

2. The people who keep fund in other sources they are sure of value are the old people. Now what argument would make a huge portion of them leave the source that have given them results over the periods they witnessed economic crisis to a new source that they are not sure of. Youths are the ones who would likely invest in crypto but for them, they live everyday as it comes because there is enough years ahead to save.

Quote from: avikz on August 22, 2018, 11:28:26 PM

As some of you may already know about it, that SEC finally rejected the ETF that was proposed by Proshare Capital Management LLC. The rejected came in today and SEC released the official document confirming the same.

SEC document Link: https://www.sec.gov/rules/sro/nysearca/2018/34-83904.pdf

Now my point is that, it is actually good for the market. The market was living on a false hope and SEC finally pulled the plug out. No more false hope will certainly help to recover the market. Newbies were excited about the news of ETF without knowing the fact. Let me point out a few for noobs.

1. The proposed ETF was meant for institiutional investors and not for common people like us.

2. The underlying asset for the proposed ETF was CME future contracts. No physical bitcoins were proposed to be purchased resulting zero impact.

3. SEC used your excitement to control the market price of bitcoin to some extent. With every delay announcement, market took a dip because you guys thought this ETF will be a great addition to the market. Wrong!

Now the ETF has been rejected by SEC, please don't let your emotion to ruin the market. The less numbers of regulated products around crypto, the better! The decision will help the market survive without intervention of SEC. So rejoice and cheer!

All of these factors that you have taken time to itemise does not change anything if the effect is not seen in the price of bitcoin as that is the language the newbies and even majority of participants understands. Every other thing on the contrary are merely expression of opinion that does not add real value.

In this dispensation of ETF, I was happy that we can all move on to something else rather than the situation where all discussions around crypto and bitcoin specifically was hanging around ETF approval or disapproval. Another thing worthy note is that since the news broke, (at least that I read about it) the price of bitcoin has made some appreciation which means the effect is not felt and participants quickly adjust to the current phenomenon.

Only those who willingly wants to distort history would claim they there are no significant impact the launching of SegWit has bring to bitcoin transactions. I remembered a time that the pool is so full and you need to pay in percentage in other to get your transactions confirmed among several issues then. With SegWit all of those are becoming thing of the past and even if the price of bitcoin increased to that of last year and activities increased so much, I don't see any increase in transaction fees to such high point again.

Quote from: drm on August 24, 2018, 10:05:33 AM

I think Ver and bch are indeed the reasons they are holding the segwit adoption back at blockchain.info.

I don't understand the basis of your argument. He might have started or being part of those who started Blockchain.info now blockchain.com, but he is no longer involved in the day to day running of the platform and it even took a long while before blockchain.com integrate bitcoin cash on its platform. Eventually, I think its because SegWit has come as a game changer which then reduce the fee across board that makes no significance difference of fees in those who uses SegWit and those who does not that why they still stick to their status quo but when the tide change and they realise that customers are leaving their platform for alternatives, they will do the right thing.

Quote from: khsahand93 on August 25, 2018, 12:50:47 PM

By the end of 2017, with the price approaching $20,000, Bitcoin became the giant of Crypto world.
We have not forgotten analyzes of those days. $1 million Bitcoin, the destruction of Fiat currencies and strange forecasts are only part of the news of those days that maybe a bit FUNNY today.
More than half of 2018 passed.
Do you think Bitcoin will remain the emperor of Crypto?
What is your analysis?

To determine whether one is emperor in the midst of others depends on what you are comparing against. I see no threat against the dominance of bitcoin in the market as at today because the period you were making reference to, it was the time the dominance was weaning down in the sense that, when the price of bitcoin was increasing so also was the price of others. However, the percentage of bitcoin in relation to the cumulation of others makes the "emperor" status dropped. Unlike now that price is down so also others but the percentage of bitcoin is not as much as the sum total which still makes the dominance solid as before. In the future, no one can predict exactly what will happen but when we get there, we will know what's next to do.

Quote from: PsylockReborn on August 17, 2018, 04:58:04 PM

https://ambcrypto.com/bitcoin-btc-now-accepted-for-bail-at-federal-court/

Bitcoin is really going mainstream now. Even a federal court is already asking payments for bitcoin or any other crypto as bail. Is this news really legitimate or just another fake one just to at least ease our minds of what's happening recently to the crypto market. Hope this adoption of crypto even in federal courts will show great performance when it comes to the crypto market. So for all of those guys who have qualms about the situation of the market right now specially the dips of bitcoin, we just have to chill and relax then wait for the bull run soon.

What are your thoughts on this? Will this create great impact to bitcoin's value? Share your thoughts.

Reading through this point to a direction for me that its more of getting him to court than legalising crypto currency as rightly pointed out in the article because for someone who could do a fraction of the charges he is accused of, he surely would have opted to keep it in crypto rather than keeping it in the bank and the judge understanding the importance of asking someone to give what he does not have. In the spirit of justice, its better he is being ask to pay for his bail in what he claims to have his asset in.

This is also going to open him up in the long run because from the wallet its coming from, how much value of bitcoin does he have? What does he do to have that huge amount to claim his innocence on the charge? and some other questions that would be answered in the course of the trial either way, they are looking out for every way to further "nail him to the cross".