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Showing 20 of 220 results by vibingpositively
Re: Can Bitcoin sustain a high price? Does my math check out? Is this valid logic?
Just to give you perspective of how much money is out there.
Gold market - 7trillion USD
Global stock market - 70trillion USD
Global money supply (broad money) - 90trillion USD
Global real estate - 220trillion USD
Offshore tax haven accounts - 30trillion USD
Derivatives market - freaking huge!!!!!
There is enough money out there to push Bitcoin to crazy highs!
That's the last thing I'm worried about. It's just a question of time.
Gold market - 7trillion USD
Global stock market - 70trillion USD
Global money supply (broad money) - 90trillion USD
Global real estate - 220trillion USD
Offshore tax haven accounts - 30trillion USD
Derivatives market - freaking huge!!!!!
There is enough money out there to push Bitcoin to crazy highs!
That's the last thing I'm worried about. It's just a question of time.
So BTC current marketcap is already 1.6% of that of gold's (few years back this would be considered a wet dream) and 0.16% of total broad money (if your numbers are correct). I'd say that's already a lot.
It's crazy to assume, that just because there's a lot of money in the world, all the money will flow into Bitcoin for no particular reason.
And it is a lot already yes, but just because it is so, doesn't mean the growth will stop. Look at the number of hedge funds entering the space in the last year, I bet they have tons of $$ behind and they simply can't enter the market effectively yet. I don't think we seen the last of Bitcoin making a huge run, the only question I ponder is this sustainable long term? I hardly want Bitcoin to reach 100k+ then to come back down to 5k, I would like it to remain there and become worldwide accepted currency.
I think this is what they call sort of a "dead cat bounce", and the bump we just saw that took the price up to $68XX was just that, a bump in an otherwise downward trend. It's crazy, because I woke up and looked at bitcoin and we're now at $6181. That's one hell of a drop in less than a day.
Luckily I'm not an active trader and don't own that much bitcoin. And this is the main reason why--volatility and unpredictability. But I imagine there are traders getting their asses handed to them left and right. Hopefully (lol) bitcoin won't go much lower. I have my fingers and toes crossed.
I have my eyes crossed too, in case that helps Luckily I'm not an active trader and don't own that much bitcoin. And this is the main reason why--volatility and unpredictability. But I imagine there are traders getting their asses handed to them left and right. Hopefully (lol) bitcoin won't go much lower. I have my fingers and toes crossed.
. But seriously if you are in this game you gotta be able to stomach this kind of stuff day in and day out. I too was shocked to see Bitcoin near 6k today upon waking up, as things seemed so bright yesterday. But alas I don't care about intraday swings and focus more on the long term. As long as Bitcoin doesn't zero out, I say let's keep playing. The game is over when Bitcoin reaches a price of $0, until then have some faith will you. While the trend line is broken, it doesn't mean anything happens 100%. All it means is we are more likely (51% and up) to go down more, than we are to go up (49% and less).
Easily can happen. If Bitcoin makes the high of 50-60k this year like many are predicting and we get to 2020 with a similar price, I believe the halving could put us over the 6k figure mark. Call me crazy but because Bitcoin progresses insanely fast, who knows we might be discussing a price line of 500k or 1m in 2022, not 250k.
Good decision by him then. It won't have no effect, because even if the news is good sometimes the price goes down and vice versa. But it should have a minor effect as it really does not have anything to do with the fundamentals of Bitcoin.
Re: Cryptocurrency is a trending topic all over the world?
You may think crypto is trending, but actually it isn't yet. The only thing that is trending, is people understand that Bitcoin exists. Outside of that, people know squadoosh. How you know this is because people know Bitcoin, yet when you mention Ethereum they look as if you are from another planet. Couple that with the fact most people don't understand the basic fundamentals of cryptography, and how these currencies work, the average person is not knowledge yet about crypto. Therefore, I say Bitcoin is trending and not crypto. Although I believe that will change in the coming years, likely after the 2020 halving.
Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?
Quite simply, because they are ignorant and are resistant to change. Also the ground that the governments and banks lay on is being threatened more and more everyday, and thus they must take drastic measures to protect it. Notice though that this type of "war on crypto" doesn't happen in affulent and progressive countries. I wonder why that is? Why is that?
Re: A small village strengthening it's Economy by cryptocurrencies.
While this does seem interesting on the face of it, it seems futile to me. Why run an ICO, and who the in their right mind would invest in it? I chalk this up to the ICO market being oversaturred and this example seems to be proof of that. Honestly, what will they offer the crypto space ask yourself this.
Re: How much money and bitcoins do you need to influence the price?
If you want to do that, you need a lot of money, maybe $1milion? Really, really big you need to influence the price, although in a small percentage.
1 million is chump change for these kinds of moves in my head. I believe you need at least 10 million, if not 100 million with a few other individuals. Then you can really move the needle, whereas 1 million may only cause a small intraday swing. What do you mean "if"? Most governments are already beginning to tax it, and given the fact Bitcoin won't go away and "die" the others will join as well it is only a matter of time. To your second point, I don't think that hinders the growth of the community, if anything I believe it helps it in an indirect way. You see the biggest sharks and sharps in the world won't enter the market because it is unregulated and they don't want to put millions on unregulated exchanges. If all the exchanges become regulated, sure it may stifle growth a little in the short term, but in the long term I think it is in all our best interests because the sharks will enter knowing the exchanges are 100% regulated and secure from fraud.
Re: What will be the best cryptocurrency in 2018-2019
Despite what has happened today, I am still a Bitcoin bull. I don't believe this to be delusional either, because there were many predictions we were heading to 6k and those who made those predictions are some smart people in this space. They also predicted 60k Bitcoin by year's end, and right now that seems impossible, but I believe it.
I might not purchase $6700 Bitcoin but anything near the low 6ks I would purchase and I would get ready to either buy more below 6k or ready for the run up. It seems like we are overdue here for a heater, but it will only happen when we least expect it I feel like.
They were but for a big time exchange such as them, this will hardly effect anybody's confidence or their customer base. Look at NiceHash after that 70m hack, they are already back and buzzing again and Bithumb will do the same.
Re: Bitcoin Price Jumps as Square Case gets a BitLicense from New York State
I think the other thing that also pumped the price a little was the announcement that Tether can prove that every Tether are
fully backed by USD reserves. Source//: https://tether.to/fss-report-transparency-update/ This might have soothed some
investors nerves and this might spark a new round of investments in all Crypto currencies, including Bitcoin. The BitLicense
impact will take some time, before it is reflected in the price.
they shows a law firmfully backed by USD reserves. Source//: https://tether.to/fss-report-transparency-update/ This might have soothed some
investors nerves and this might spark a new round of investments in all Crypto currencies, including Bitcoin. The BitLicense
impact will take some time, before it is reflected in the price.
Quote
Tethers anti-money laundering (AML), Bank Secrecy Act, and Office of Foreign Assets Control Program;
Tethers AML/Anti-Terrorist Financing Risk Advisory Report from 2018;
Extensive documentation on Tethers account registration process and procedures and its AML system and compliance policies;
An unredacted consulting report issued by a professional services firm retained by Tether;
Complete account opening paperwork and materials concerning Tethers accounts with its banks;
Tethers banking policy, banking access policy, and internal controls, including as they relate to the issuance of new Tethers;
Financial information related to Tether;
Tethers registration as a money services business with and under the Financial Crimes Enforcement Network;
Documentation and materials with respect to Tethers personnel and its corporate structure; and
Materials concerning the number of issued and outstanding Tethers, both historically and currently.
Tethers AML/Anti-Terrorist Financing Risk Advisory Report from 2018;
Extensive documentation on Tethers account registration process and procedures and its AML system and compliance policies;
An unredacted consulting report issued by a professional services firm retained by Tether;
Complete account opening paperwork and materials concerning Tethers accounts with its banks;
Tethers banking policy, banking access policy, and internal controls, including as they relate to the issuance of new Tethers;
Financial information related to Tether;
Tethers registration as a money services business with and under the Financial Crimes Enforcement Network;
Documentation and materials with respect to Tethers personnel and its corporate structure; and
Materials concerning the number of issued and outstanding Tethers, both historically and currently.
.. just friggen show a bank statement with balance
P.S just like circle is doing.. and like paypal done.. whenever offering a custodial service to hold funds as a balance measured 1:1 as dollar. you need a friggen bankers licence not a a money service business licence.
in short tether is still schemy and scammy but goes all out to throw hundreds of different documents at a law firm to look innocent but not show 1 single piece of paper with a bank balance into the open transparent public arena called the internet
Re: What kind of price movement do you want for Bitcoin?
Well my strategy involves a decent amount of volatility because if we have small weekly increases then it doesn't entice investors or get them out of the market much. With high volatility however, the market fluctuates rapidly and there is a ton of opportunity to capitalize on. I am all about capitalizing on opportunities, the process of how I get there, I could care less about that.
Re: Is there any fast and easy money here in cryptocurrency?
Nope, nothing in life is fast and easy. Like anything else in life, you must work hard for what you want, or incredibly smart. Take your pick but the last thing it will be is easy. Why are people so lazy they can't work for what they want? You get what you put into something.
Re: Which is more risky? Bitcoin or bank investment?
Bitcoin is 100% more riskier an investment and if it is not I would watch the hell out with your bank they are robbing you blind. It kind of reminds me of the South Park scene where Stan goes to invest his money and within 1-2 seconds the banker infamously says "aaaand its gone" .
.Re: Huge potential earnings in bitcoin, still not interesting for others
It could be interesting but they may not know how to take advantage. Not only do you need to be technically skilled in order to navigate this market, you need a bunch of things that not everybody has like computer, time, and money. These factors alone weed out majority of the people, not to mention the fact entering a completely new field is daunting and ripe with scams.
You seemingly only thought about what could happen in a good scenario, but you didn't field the okay scenario or worst in your OP. Also I wonder how you have felt these past 3 months while your money is stuck and you know you have made a bad bet. As is I would probably let it ride, but pulling out right now might not be a bad decision either as you may be minimizing your losses (in case things go more south from here).