Money is indeed a bubble. And it cracks all the time. It’s called ‘inflation’.
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bitcoin just hit 20,000 CAD per coin. it’s doubled in like the past 3-4 weeks alone. i should never have bought btg, i now know only invest in bitcoin, not worth trying to daytrade for meager gains when those types of returns are possible.
@Ttystikk inflation is from the government printing up billions of more dollars, lowering the value of yours, bitcoin is distributed at a set and known rate so they cant just make another million coins, lowering the value of yours.
the governments have proven time and again they aren’t responsible or trustworthy enough to control the supply of money. not to mention the fed reserve collects interest on every dollar printed for the US gov… so if every dollar needs to be repaid at $1 + X interest, where does the money to pay the interest come from!!! same with the bank of canada, bank of england. it makes zero sense for governments to pay banksters to print money when they could print it for themselves at no (or significantly less) cost.
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yes those are all valid ways of staying anonymous - you can also use tumbling services which take your coins, mix them up, and give you back different coins to a different wallet minus a small fee to anonymize coins bought with your credit card etc you could also buy another coin with btc, then trade it back for btc to a new wallet to get fresh coins (i.e. buy monero with btc, then btc with monero, deposit to new wallet -fresh coins)
ATMs and private buys off localbtc charge very high rates, usually 9% lowest up to 15% or more
if you registered to the mining pool with your own information (email/name) and used your own IP they could likely track the coins to you that way if they really cared. but no one really cares that much. there are companies who’s whole business is analyzing the block chain though
monero is better for anonymity. monero automatically tumbles/mixes coins and you can keep your transaction history private, so no one can know the sender, receiver, or exact amount of a transaction.
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That is probably one of the best ways to avoid tracking of personal cash flow. But you have to also spend it wisely…
Also that mining pool probably won’t be in same jurisdiction as you are, so obtaining any personal info from it will be problematic.
Have you read that anonymity guide in the second post of this topic? There are many good tips to avoid being tracked.
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A US Senator is trying to push a bill essentially making use of crypto currencies illegal, punishable by up to 10 years in prison and 1 million dollar fine.
“(a) In general.—No person shall knowingly conceal, falsify, or misrepresent, or attempt to conceal, falsify, or misrepresent, from or to a financial institution, a material fact concerning the ownership or control of an account or assets held in an account with a financial institution.">
“(b) Penalties.—A person convicted of an offense under subsection (a), or a conspiracy to commit such offense, shall be imprisoned for not more than 10 years, fined not more than $1,000,000, or both.
full bill here:
https://www.congress.gov/bill/115th-congress/senate-bill/1241/text
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a perfect cryptocoin would have a constant or slightly increasing value. the bulgarian government has $3 billion in bitcoins. there are lots of wallets with nearly $100 billion USD in bitcoins. what are they going to do with them? what will happen to the markets when they try to sell them?
Did this congressman explain why he’s trying to outlaw Bitcoin? Let’s face it; that’s what they’re targeting, all the rest of them put together are still a tiny fraction of bitcoin’s market cap.
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the title of the bill is combating money laundering and funding of terrorism so probably for those reasons plus buying drugs and ‘pizza’ is pretty common with btc.
i still don’t know if that 1st clause would really apply to cryptos though because all exchanges require pretty stringent identification verification and holding coins in your own wallet would not be ‘in an account with a financial institution’ but people are interpreting it to be an attack against crypto
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Is it ok to say as an american that our senators and congress and my government has its head up its ass?..they are far worse than what they wanna stop in my eyes.
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yup they’re basically like organized crime but worse because they’re in charge
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Janet Yellen, the outgoing Chairman of the Federal Reserve, came out pretty clearly that she thought Bitcoin was a worthless ‘currency’ and that it would not be eligible for Federal support.
Watch that change as soon as the big banks build their positions lol
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the people complaining about bitcoin are the same liars who said there was no housing bubble and there wasn’t going to be a recession plus countless other lies. they clearly don’t value truth in their statements or just have no idea what they’re talking about. it is not ‘worthless’ they are worth just under $19,000 each. i can buy or sell things with them at that valuation. so i’m not sure if it’s bitcoin or USD which is truly worthless.
Japan Made Bitcoin a Local Currency, and Now It’s More Popular Than Ever
i’m convinced crypto is 100% here to stay. i also believe cryptos creation was state sponsored and all this foot dragging by the governments is a reverse psychology tactic to encourage more widespread adoption (like the media ‘hating’ donald trump.) Bitcoin transactions are too slow and the fees are too high. Bitcoin Cash seems to solve some problems bitcoin faces, but i still believe any coin with a centralized development team is not a ‘decentralized currency’ regardless of how they spin it.
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Lots of good points here.
I still think the valuation is too high, and therefore there will be corrections in the price.
Once that process works itself out- that is, the shedding of the speculators- Bitcoin can get on with being a medium of exchange rather than an asset class.
Tulips are still an interesting comparison; once the bubble blew up and the speculators left the market, tulip bulbs were still marketable and still sold and in fact are still bred today. They’re a perfectly functional variety of plants even without the crazy values they once held.
In this way, I believe those who think that crypto currencies are a new medium of exchange and those (including me) who think their current market valuation is out of line with their utilitarian value are both correct.
It’s a matter of time and timing.
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bitcoin plummeting, hit a low of 11k today on quadriga, almost 50% down from it’s peak recently. seems people didn’t like the futures idea or something, not too sure, but its definitely related to the futures. maybe they’re manipulating the market so they can buy them all up for cheap. who knows.
Another Bitcoin hub got hacked and lost a bunch of money. Early speculation is pointing at North Korea.
Correction is here! Currently trading at $12150 on bitstamp … that is 39% lower than highest price this year on bitstamp $19666
It will be good for accumulating soon 
It is not that people don’t like futures… We don’t have much hard numbers on popularity of derivatives yet (they are trading just short period). It is that people traded on rumours… Futures is step to make btc available for public, but still it is limited cause there are not much people that understand futures and options. But it can serve as a basis for building ETF on Nasdaq than can have really wide customer base.
The Creator of lite coin just dumped everything too
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haha sold entire stake!! he’s probably trying to rebuy in for cheaper also
I think crypto currency is a plot to get the world on a one world monetary system and create a completely digital banking system. Every transaction recorded and monitored.
Banks are getting in to digital currencies big time, that should be a warning sign.
“Investors” will get fleeced by this scam.