On January 17 2018 23:14 RvB wrote:
How would you ever achieve that? Every currency has a value and as long as it has one you'll be able to profit (or lose) from it. The Forex markets are huge.

By invest I meant invest and hold (rent-seeking behaviour) rather than short term speculation which is what most forex trading is about. The minimum transaction fee would hopefully stop forex trading from getting too out of control.

On January 18 2018 00:33 pmh wrote:

Show nested quote +

Isnt this easy to work around? people can just trade the coins with themselves/friends and multiple accounts.

Yes, very easy. The point is to prevent the blockchain from becoming too big, not to stop people holding coins forever. It is also a subtle encouragement to hold wealth in other currencies though and use cryptocurrencies primarily for fiat currency intermediation.

DarkPlasmaBall

United States44220 Posts

January 28 2018 21:23 GMT

#1044

Thoughts? I haven't been following Bitcoin too closely, but the standard market cycle seems to line up with the Bitcoin trends so far. Is there any economics-related reason to think that it won't be dropping drastically soon? Is there any reason to think that cryptocurrency should somehow be immune to this cycle that reflects pretty much every big bubble/ crash?

Shalashaska_123

United States142 Posts

January 28 2018 23:40 GMT

#1045

Hello, DarkPlasmaBall.

I don't think those are the right images to be comparing. The one on the left is a toy model, and their time scales aren't adjusted for comparison. I suggest having a look at these two.

[image loading]

On the right is the dot-com bubble from 2000, and on the left is the current bitcoin bubble. The arrow is where I think we are right now. For the time being, like other people have said, I think short-term trading is the way to go. If bitcoin continues to follow the same pattern, then it should tumble down to about $5k before picking up again. This is just my opinion, though.

Sincerely,
Shalashaska_123

KwarK

United States42558 Posts

January 30 2018 13:43 GMT

#1046

The BTC chart doesn't meaningfully show the situation. A large part of the drop in BTC value has been movement to other cryptocurrencies. The BTC market cap is down but the crypto market cap is not. We've seen an internal redistribution, not a crash.

ShoCkeyy

7815 Posts

January 30 2018 14:29 GMT

#1047

Kwark is right, and on top of it, BTC falls when negative news comes out. Such as Bitconnect, the recent hacking in the Japanese exchange, etc...

RvB

Netherlands6204 Posts

January 30 2018 15:44 GMT

#1048

On January 30 2018 22:43 KwarK wrote:
The BTC chart doesn't meaningfully show the situation. A large part of the drop in BTC value has been movement to other cryptocurrencies. The BTC market cap is down but the crypto market cap is not. We've seen an internal redistribution, not a crash.

Do you have a source?

mahrgell

Germany3943 Posts

January 30 2018 15:53 GMT

#1049

On January 31 2018 00:44 RvB wrote:

Show nested quote +

Do you have a source?

https://coinmarketcap.com/charts/

aseq

Netherlands3976 Posts

January 30 2018 16:50 GMT

#1050

That shows the total market going from 830B to 530B, right?

mahrgell

Germany3943 Posts

January 30 2018 16:52 GMT

#1051

On January 31 2018 01:50 aseq wrote:
That shows the total market going from 830B to 530B, right?

It also show Bitcoin dominance going from 85% a year ago, or ~60% 1.5 months ago going down to 35%.

DarkPlasmaBall

United States44220 Posts

January 30 2018 19:52 GMT

#1052

So in the past month, it's been both an internal redistribution and an overall Denial/ Bull Trap phase?

Also, thanks for the explanation, Shalashaska_123

DarkPlasmaBall

United States44220 Posts

January 30 2018 22:50 GMT

#1053

Facebook bans all ads for cryptocurrencies, ICOs and binary options

Facebook Inc. on Tuesday said it is banning ads promoting bitcoin and other cryptocurrencies, as well as those about initial coin offerings (ICOs) and binary options.

The social networking giant said in a blog that it is making the move because these are “financial products and services frequently associated with misleading or deceptive promotional practices.”

"We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception," the Menlo Park-based company said in the blog. "That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith."

The move comes a few weeks after Facebook founder Mark Zuckerberg said he would look into cryptocurrencies as part of a promise to correct persistent problems at his social networking business — including the proliferation of hate speech and misinformation.

He cited encryption and cryptocurrency as "important countertrends" that could help in the fight against those problems at that time. But he also warned "they come with the risk of being harder to control. I’m interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.”

Facebook said it is being intentionally broad now in the new ban, barring any advertising for crypto, ICOs and binary options on all of its platforms, including Instagram.

"We will revisit this policy and how we enforce it as our signals improve," it said.

A report from Ernst & Young last week said that about 10 percent of the $3.7 billion raised through ICOs last year was stolen. It also said that only 25 percent of ICOs hit their fundraising goals in November, versus 90 percent in June.

Binary options trading involves betting on whether certain financial indices will rise or fall by a certain time. It's the type of all-or-nothing investment that U.K. regulators earlier this month cracked down on, saying that many were operating illegally.

https://www.bizjournals.com/sanjose/news/2018/01/30/facebook-bans-ads-for-cryptocurrency-icos-bitcoin.html

TheFish7

United States2824 Posts

February 01 2018 02:44 GMT

#1054

The next technical level to watch is $8,000. This is the level before the big runup started in November, and it's just above the 200 day moving average. If it breaks out south of that and stays there for a while we're officially in free-fall mode.

Mohdoo

United States15664 Posts

February 01 2018 15:02 GMT

#1055

Anyone else deeply suspect one of the giant tech companies may come out with their own block chain currency? I feel like tht entire other coin market will crash if that happens.

pmh

1352 Posts

February 01 2018 15:31 GMT

#1056

9300 again,it is an interesting point and somewhat tempting to go long here. Though it is risky and probably to early.

Mohdoo

United States15664 Posts

February 01 2018 15:49 GMT

#1057

On February 02 2018 00:31 pmh wrote:
9300 again,it is an interesting point and somewhat tempting to go long here. Though it is risky and probably to early.

I won't be surprised when it hits 8k. An enormous part of the new market is really scared, skeptical and mostly looking for quick money. It's not a good environment for growth.

ShoCkeyy

7815 Posts

February 01 2018 19:24 GMT

#1058

There is a 100k order going through, and many others are buying off the panic selling. The ones that bought before $5k are still positive. If it dips below $8k, we can see it drop to $5k most likely. But as of right now $9k seems to be the general support range for it.

VioleTAK

4315 Posts

February 01 2018 20:39 GMT

#1059

I highly doubt it'll go under 7k, but that's my unprofessional opinion of course.

I'm going to buy a ton of alts when the moment feels very right, and I feel it coming soon

a good time to stay awake, can remember this moment for your entire life. Don't join the panic train, keep watching and be alert, it's just an incredibly large attack that will rattle everything, but BTC will come out of it x10 stronger when the bones heal, and everything else with it.