https://airdrop.brickblock.io/r/pMvfzvjfHwi0Tz7pBNutUuYCxGmTjntS

BTC address:
38m9XXNpqddEQtAjmD7AoBgB4qV6YgAcoD

Do you want to say that Chinese miners would be buying up to protect their mining profits? In my opinion, that would be counterproductive and risky as hell. In short, that would be a really bad move cause they might not get there and lose money at that, for example, if some whale decided to cash out. The price reversal was likely due to a downtrend movement getting limited and exhausting itself. It looks more like $6k was the lower limit below which people who bought in December and didn't sell soon thereafter wouldn't be selling at any price, no matter how low Bitcoin could fall. So it was no use pressing prices any lower.

Can't agree more with you guys!

Another example definitely worth mentioning here is Sweden with their so-called Scandinavian socialism. This country is notoriously famous for their insanely high tax burden that many people living there find too heavy or even inappropriate. In the past, a lot of public figures like celebrated sportsmen such as Björn Borg moved to live in other European countries where they wouldn't have to pay extortionate taxes on their high earnings.

With that said, we should however remember that there is an optimal level of tax burden in the economy (think Laffer curve here), and it may be a lot higher than what some or even most people may think. And that could be one of the reasons why the Japanese government levies so high taxes given that the local population is law-abiding in general.

Please merit these two posts from me:

https://bitcointalk.org/index.php?topic=2802480.msg30433019#msg30433019
https://bitcointalk.org/index.php?topic=2914559.msg30467801#msg30467801

Thank you!

Hi again!

If you don't mind, take a look at my new post:

https://bitcointalk.org/index.php?topic=2802480.msg30433019#msg30433019

I daresay you are still living in a pipe dream of sorts. People behind Cryptsy are well known but the main villain, Paul Vernon, has managed to escape and still hiding somewhere in Asia, while those who ended up caught in the end got off pretty cheap. It turned out that they in fact successfully pulled off the job and had to return stolen money ($8.2 million in total) to their clients at laughable exchange rates, something like $200 per bitcoin when bitcoin had already been well over $1,000, just short of $2,000 by the end of July, 2017. Would regulation have helped the victims of the scam in any meaningful way?

Apart from that, no amount of regulation will save you from coins theft. But theft in the cryptoverse means almost no chance of getting the stolen coins back. Sorry to sound like a wet blanket here but this is how matters stand in the crypto world. People would still be left holding empty bags.

@burner2014

Thanks for meriting me!

Hello, look at this topic:

https://bitcointalk.org/index.php?topic=2845776.msg29194693#msg29194693

Thanks!

Please, check these posts and choose the one which you deem the best:

https://bitcointalk.org/index.php?topic=2845776.msg29194693#msg29194693
https://bitcointalk.org/index.php?topic=2613754.msg29186924#msg29186924
https://bitcointalk.org/index.php?topic=2613754.msg28974463#msg28974463

Thank you!

Do you mean Venezuela here? Which are these 3-4 countries you speak of? Their governments must be downright incompetent, and Bitcoin may be the last straw to break the proverbial camel's back there. People in these countries don't want to have anything to do with them, so they abandon national currencies in favor of crypto and major fiat currencies such as the US dollar like it happened in Zimbabwe a few years ago.

Care to elaborate? I don't think I understand what you mean here. Anyway, wouldn't you consider Japan as an American puppy dog too? Though them seem to be very friendly towards Bitcoin. Shouldn't they ban or otherwise restrict its use like China and Korea did?

Here I refer to "banning" Bitcoin in these countries. It's my assumption only so please don't throw stones at me. I come to think that they aren't so much against Bitcoin itself, and they don't mean anything evil towards it. All they do basically comes down to preventing their population from being too much obsessed with Bitcoin because these nations are known as quite venturous. The authorities simply don't want to deal with the crowds of angry people after they lose their savings at Bitcoin exchanges, which look more like Bitcoin casinos nowadays.

Japan is definitely different in this regard. They have a culture that celebrates moderation and composure. That may be one of the reasons why Bitcoin has got so much public as well as government recognition there.

I can't agree that it's normal. Volatility is slowly killing Bitcoin. It may be beneficial for Bitcoin traders in the short term, but with these levels of volatility it will remain a purely speculative asset and it will implode eventually! In a few years people will write here or elsewhere that it was kind of obvious and set in stone. That without real use in the real economy the life cycle of a speculative asset like Bitcoin is limited to maybe a decade. There is no light for Bitcoin at the end of the speculation tunnel!

If only it were that simple. Mass scamming of the last year have made people reluctant to invest even in promising and seemingly legit ICO's. As a result, they don't get enough financing and thus have to return the funds to their investors. Within a week I saw a couple of projects failing to raise the required amount. And it looks like a vicious circle of sorts. ICO's fail to reach their soft cap while investors are further discouraged from investing in them. It is the same as it was with altcoins. At first, there was a lot of hype and plenty of money lost in scamcoins, then truly original and worthy coins had difficulty making it through.

I read about the same thing somewhere not so long ago. But it was a pretty dated piece to be honest, so my question is whether this is really so and not just another pro-altcoin hype and propaganda? What are the features that Bitcoin already adopted from altcoins yet? I know that there is an initiative to implement smart contracts in Bitcoin, and that would be a perfect example of such technical developments. Smart contracts is a pretty solid and polished technology now, but how long are we to wait until it actually makes it into Bitcoin?

Cut your post to get some space here.

For the record, I don't disagree with your view that the real inflation is well above the reported. But it is the same with other currencies too. Therefore, it is kind of level playing ground for all top currencies which are traded against the dollar. And whenever one currency becomes "unfairly" expensive or cheap in respect to others, this leads to a price-equalizing effect which I described in OP. In the cryptoverse though, there is no such thing. Exchange rates between different coins can be arbitrary and completely out of proportion with respect to "real" value determined by their actual use.

Without wider adoption in the real sector the volatility of cryptocurrencies is not going to diminish. Major fiat currencies are rock solid specifically because they have huge application as a means of payment, and this keeps their volatility in check. This is not so with cryptocurrencies. There is a very small market for goods and services which can be bought with these currencies and, at the same time, a huge speculative market which leaves them no chance to become stable.

Hi, I'm doing it again!

https://bitcointalk.org/index.php?topic=2845776.msg29194693#msg29194693

Please share your opinion.

I want to share my opinion on the question of Bitcoin's high volatility, but it is just an opinion so please be patient with me. I've read a few topics here and there where people ask about Bitcoin's volatility, its causes, and whether it is going to end one day if ever. Below is my take on the matter.

People want to know when we will reach the state of more or less stable cryptocurrencies and whether it is possible at all. I think that without wide adoption in the real sector the volatility of cryptocurrencies is not going anywhere. The reason is quite simple, and you don't need to be an Einstein of economics to understand that. For example, fiat currencies have wide application in the real world. You can buy food, water, clothes, whatever with them. In short, you always know how much 1 or 1,000 dollars can buy, and this sets the reference point for the dollars worth of things. And this is the main reason why volatility of major fiat currencies is constrained. Let's take the dollar as an example here. If the dollar becomes undervalued in respect to goods which can be bought with it, people start exchanging other currencies for it, and the dollar value rises. On the other hand, if the dollar is overvalued in respect to the same basket of goods, people start selling it for other currencies, and the dollar value falls. In both of these cases, the effect is diminished volatility.

With mostly speculative assets like cryptocurrencies, it doesn't work like this because there is no such point of reference. Therefore, there is no limit for volatility either. The bottom line is that if we want lower volatility of cryptocurrencies, we need wider application of them in the real world. We need them to be extensively used in commerce as a means of exchange for goods and services, not as a vehicle for speculation.

I would like that to be true but it is simply not so. Cryptocurrencies are ruling speculative markets and online gambling, attracting a lot of money from unexperienced people, common people, but in commerce cryptocurrencies are below detectable. Companies that you may think of as accepting bitcoins are actually accepting fiat because 1) they are not interested in crypto as such, and 2) not many people use bitcoins or other coins for payments. And it is still not quite clear whether Lightning Network and similar technologies enabling fast and cheap transactions are going to change anything in this regard. Bitcoin needs to stop being a speculative asset in the first place.