Is Bitcoin the Next Big Thing?

[bonusmedia]

Ironically. one of the major pushes on the last run up to 18k odd with bitcoin was exactly that. The situation in Zimbabwe with Mugabe getting ousted caused pretty much anyone with money in the country to look for a safe haven. The currency was about to tank so everyone bought bitcoin. You ended up with everyone that had cash looking for a nimble and transportable store of wealth.

EDIT That currency was worthless already!
Good riddance to the evil fucker, sadly don't have much faith in his replacement

To be fair the entire market cap of bitcoin would barely move the dial in gold - but it's a signal

 

[Edwin]

Actually, I found that http://bitcointicker.co/ itself gives me what I want - all I need to do is change the timespan to something like 3 months, 6 months or all time, then mouse over the grey bars at the bottom of the graph to see that day's total volume on that particular exchange. Some of the volumes are tiny! E.g. Bitstamp seems to hover around the 10,000 level i.e. 10,000 BTC traded per day, with spikes up to around 40,000. So the implication is that, even on "crazy move" days, the change in price is being caused by tiny, tiny blocks of currency (around 0.06% of all Bitcoin get traded per day, meaning that even in a year most lie gathering dust on a shelf).

Of course, the figures aren't as low as that, because that's for a single exchange, but it's still indicative that a single Bitcoin whale could clearly move the market any time they fancied.

 

[websaway]

Faceb**k apparently have banned bitcoin adds. I wonder how long before money coming in to meet money taken out is exhausted.

 

[websaway]

Have you noticed how all the people who sound bitter and negative about bitcoin, don't own any.

But that's exactly the attitude that has always driven pyramid schemes. Owners who aren't negative are acting out of self interest. Reminds me of the lawyers who fight for the UK to remain subject to ECJ control. We all act mostly out of self interest but try to convince others that it is in their interests.

 

[ian]

Faceb**k apparently have banned bitcoin adds. I wonder how long before money coming in to meet money taken out is exhausted.

Well, it was a blanket ban on cryptocurrency advertising because of the amount of scams and fake ICO's; they are just protecting themselves and any true believer in crypto will appreciate this being a smart move.

 

[websaway]

Well, it was a blanket ban on cryptocurrency advertising because of the amount of scams and fake ICO's; they are just protecting themselves and any true believer in crypto will appreciate this being a smart move.

But isn't it exactly those types of scams that made bitcoin rocket and without them where would the price be ?

 

[ian]

But isn't it exactly those types of scams that made bitcoin rocket and without them where would the price be ?

I wouldn't say so, but no one will know for sure. The scams tend to centre around unregulated ponzi schemes and bogus ICO's.

 

[websaway]

I wouldn't say so, but no one will know for sure. The scams tend to centre around unregulated ponzi schemes and bogus ICO's.

As opposed to regulated Ponzi schemes.

 

[bonusmedia]

As opposed to regulated Ponzi schemes.

http://ponzicoin.co/home.html

 

[websaway]

http://ponzicoin.co/home.html

Touche

 

[RobM]

Taking a bit of a pummelling today. Probably a good time to enter for those who think it's in a dip.

 

[martin-s]

I've bought Paypal shares.

Might want to read this then:

PayPal slammed after eBay snubs it for another payment partner
https://www.hl.co.uk/feeds/apps/newsroom-article?id=12477815

 

[RobM]

With any luck he bought them with bitcoin last week when it was nearly double

 

[dee]

Taking a bit of a pummelling today. Probably a good time to enter for those who think it's in a dip.

Doesn't look like theres a lot of support down to 8k either. I just got some TRX at a discount too.

 

[dee]

Might want to read this then:

PayPal slammed after eBay snubs it for another payment partner
https://www.hl.co.uk/feeds/apps/newsroom-article?id=12477815

yep. They use adyen . And adyen uses Ripple labs and XRP.

 

[parkingearnings]

If anybody is willing to sell some crypto (any that can be traded via Binance) for PayPal - let me know. (will pay 10% more on the current value).

 

[ian]

I was wondering why head management of Paypal had been talking up crypto recently; I guess the separation from eBay allows them to refocus.

For what my opinion is worth, we are in a downward trend due to coordinated attacks all over the world by governments and press on crypto (let's face it, it is an enemy of the state, unregulated, untraceable, UNTAXABLE). Once it fud calms, we should start to see a rise, though I expect we might see the gap between Bitcoin and Ethereum close even further, with a possibility of Ethereum overtaking Bitcoin this year if Bitcoin doesn't get Segwit; this might have a positive affect on the market, as it will certainly make the headlines and create more talking points. This flush out hopefully allows only those with actual real world usability to rise again, though I suspect it will just be the same, where anything can be pumped for a tidy profit; that will have to change eventually.

 

[ausername]

Might want to read this then:

PayPal slammed after eBay snubs it for another payment partner
https://www.hl.co.uk/feeds/apps/newsroom-article?id=12477815

Paypal unshackling itself from an increasingly irrelevant and stagnant marketplace, which has failed for years to keep up with the pace of ecommerce growth, is precisely why I was willing to buy paypal shares.

Although I will probably hedge with buying into the Adyen IPO if its priced realistically.

Now watch Paypal announce its payments being processed over a proprietary blockchain and watch what happens with the share price, its so obvious that they are planning this.

Could be very shortsighted by ebay if Paypal are ahead of Adyen in their R&D, which would you expect that they would be considering the capital they have at their disposal.

You never really know though do you, loads of investors keep getting sucked into the Tesla con and Elon Musk the ultimate snakeoil salesman.... when Audi and BMW are light years ahead of them when it comes to developing the tech for driverless cars.

 

[ausername]

For what my opinion is worth, we are in a downward trend due to coordinated attacks all over the world by governments and press on crypto (let's face it, it is an enemy of the state, unregulated, untraceable, UNTAXABLE).

In this utopian la la land where decentralised crypto currencies take out fiat currency and make governments irrelevant.... who is keeping the street lights on? And pay for primary schools?

Or do you think it actually makes more sense to have national currencies, over a blockchain of some sort, with a degree of taxation in some form? Like a transaction tax?

Personally I don't see how society could function without taxation.

 

[ian]

That is exactly my point, pressure is applied because of the very nature of cryptocurrency making it difficult to tax transactions which are vital to ensuring stability around the world. There just needs to be a happy medium, somehow, somewhere.