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buksida
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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Thu Dec 14, 2017 7:16 am

This one offers a blockchain solution to the current SWIFT method of international bank transfer - could save a lot in fees and is already being tested by banks in Japan and South Korea:

http://bitcoinist.com/banking-bonus-revives-ripple/
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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Mon Dec 18, 2017 8:59 pm

Thailand renewable energy company looks towards blockchain for distributed energy trading:
http://www.newsbtc.com/2017/12/18/power ... y-trading/
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Re: Bitcoin mining and cryptocurrency thread

Post by PBbeacher » Tue Dec 19, 2017 10:19 am

buksida wrote:
Mon Dec 18, 2017 8:59 pm
Thailand renewable energy company looks towards blockchain for distributed energy trading:
http://www.newsbtc.com/2017/12/18/power ... y-trading/
Got into Power Ledger at ICO, great project! :cheers:

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Tue Dec 19, 2017 3:05 pm

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Re: Bitcoin mining and cryptocurrency thread

Post by Nereus » Fri Dec 22, 2017 11:39 am

Panic selling knocks bitcoin into bear market fall

https://thewest.com.au/business/money/p ... b88698551z

Bitcoin mania has been dealt a heavy blow today with the world’s favourite speculative “asset” crashing $US6000, or 33 per cent from its record high to $US13,280.

In nominal terms the latest correction in the bitcoin bull market rally is double previous falls, which means much greater nominal cash losses for those late to the speculative frenzy.

Bitcoin peaked at $US19,666 four days ago, but it has entered a fully fledged bear-market correction with a $US3000 loss alone today after crashing through technical support levels.

The sell-off has accelerated as the short-lived price premium seen in bitcoin futures tumbled, leaving the CME futures price in line with the bitcoin spot price.

Signs of panic set in today amid numerous reports of people struggling to sell their cryptocurrency holdings on exchanges where transaction volume levels are nowhere near those on equity market exchanges.

Writing on Twitter, respected technical analyst Peter Brandt said the “bubble has been popped” after the bitcoin price broke below the the steep trend-line in place since December 13.

Support was expected around $US13,000, and if that level broke it could fall to $US8000.

But putting the fall into perspective, the price has only retreated back to levels first hit on December 12, and it was still up about 1480 per cent over the past year.

Most other cryptocurrencies have also fallen, with etherium down almost 19 per cent as broad selling set-in ahead of the Christmas long weekend when making hard currency payments for crypto currencies will be difficult.

The fastest growing bubble in history began faltering this week with heavy selling in Asian time following news five South Korean exchanges had been hacked.
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Re: Bitcoin mining and cryptocurrency thread

Post by Thistle » Sat Dec 23, 2017 2:35 pm

The volatility is going to continue,new investors/players coming into a new market now recognized in certain trading locations.
It also has to be of concern surely that if the volume of transactions are so great on one exchange and it has to close,and you wish to sell,what then??.
If the market goes into free-fall then anything you perhaps had,profit wise,and unable to sell on the exchange,i would assume there will be a back-lash of some degree.
The market is possibly being controlled by several large investors.A bull market like this is not just through small individual interest even if it is worldwide,in my humble opinion.
Consider the Hunt brothers manipulating the Silver market,two individuals, certain companies from the US/Russia/South Africa ,controlling Copper/Platinum/Gold over the years.
I do not believe it is any different,,,,,,,,,,,,perhaps there will be new surge in Bitcoin before the new year,,,,,,,,,,,and profits will be taken to welcome in2018.
And those that are making money from Bitcoin,good for you,hope you will decide to use your profits wisely.

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Re: Bitcoin mining and cryptocurrency thread

Post by StevePIraq » Sat Dec 23, 2017 3:21 pm

One thing to remember is this is NOT investing it is gambling.
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Re: Bitcoin mining and cryptocurrency thread

Post by handdrummer » Sat Dec 23, 2017 4:24 pm

does such a thing as a Bitcoin actually exist or is it just the figment of someone's imagination and people are investing in unborn cattle.

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Re: Bitcoin mining and cryptocurrency thread

Post by Vital Spark » Sat Dec 23, 2017 7:05 pm

StevePIraq wrote:
Sat Dec 23, 2017 3:21 pm
One thing to remember is this is NOT investing it is gambling.
Totally agree, but if you gamble on a football match or a horse race and your pick doesn't win, you've lost all your money. When 'investing' in Cryptos YOU have total control of your money - you may go in too high and lose a bit, but you've still got some money left to buy a pizza or beer. You also have the choice to hang on to your 'horse' to see if it gets second wind...;)

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Sun Dec 24, 2017 10:38 am

StevePIraq wrote:
Sat Dec 23, 2017 3:21 pm
One thing to remember is this is NOT investing it is gambling.

That can be applied to every scenario where you put money into something hoping it will increase, be it property, gold, oil, stock markets, forex, classic cars, or a bank fund. It is all a gamble, just the element of risk that varies.

Markets correct, this is what we've just seen, BTC is still 1340% up on the beginning of the year and 75% up on the beginning of the month.
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Re: Bitcoin mining and cryptocurrency thread

Post by Alan white » Sun Dec 24, 2017 5:21 pm

What markets are people using or what is considerd to be the best markets? Im looking to get into buying some crypto currency a few people i know use bitrex but at the moment they are not letting new members sign up.

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Sun Dec 24, 2017 5:27 pm

If you are in Thailand use bx.in.th

If you cant get on to Bittrex try Binance.

Avoid Coinbase unless you want to pay a lot of fees and commissions.
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Re: Bitcoin mining and cryptocurrency thread

Post by Alan white » Sun Dec 24, 2017 5:55 pm

Unfortunately im in the uk. I might give binance a try then

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Re: Bitcoin mining and cryptocurrency thread

Post by M1kebanks » Thu Dec 28, 2017 11:48 am

I use Kraken.com.

You can transfer funds to from your UK or European bank to your Kraken account free of charge and the crypto commissions are very reasonable.
This exchange is also being used by the CME to establish BTC futures rates.

Downside (but also a pro ) you can only trade in the most established coins, e.g. BTC, ETH, DOGE, BCH... etc..

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Re: Bitcoin mining and cryptocurrency thread

Post by Nereus » Fri Dec 29, 2017 10:01 am

Officials to educate public on bitcoin

https://www.bangkokpost.com/business/fi ... recent_box

The Finance Ministry will join with other authorities to educate people about bitcoin after the cryptocurrency's roller-coaster ride in recent weeks, says finance permanent secretary Somchai Sujjapongse. :lach: :lach:

The ministry is concerned that cryptocurrency trading will have parallels with investment in Ponzi schemes and therefore people must be made aware of the high risks involved before they plough their money into digital currencies that are not regulated yet, Mr Somchai said before a meeting with three other regulators on the issue.

The other regulators taking part in the meeting were the Bank of Thailand, the Securities and Exchange Commission (SEC) and the Anti-Money Laundering Office (AMLO).

The meeting came after Prime Minister Prayut Chan-o-cha instructed the Finance Ministry to educate people about the risks of bitcoin investment after the recent sharp surge in bitcoin's trading value prompted him to worry that Thais would fall victim to cryptocurrency speculation.

Bank of Thailand governor Veerathai Santiprabhob last week raised a warning flag on cryptocurrencies, saying they are not legal tender.

The central bank, however, has declined to regulate cryptocurrencies thus far because their usage is not so widespread that they could cause systematic risks for Thailand.

There is no central bank in the world that accepts bitcoin, and central banks in the US and Japan are open to opportunities for virtual currencies to be used for payments if recipients are ready to accept them, Mr Veerathai has said.

Singapore's monetary authority warned last week that digital currency buyers should be aware that they could lose all their money, as the recent price surge was driven by speculation.

Singaporean officials joined counterparts who have warned about the speculative mania surrounding bitcoin.
Bank of Japan governor Haruhiko Kuroda has also voiced concern, saying bitcoin is not functioning like a normal means of payment.

Bitcoin's price has swung wildly in the past few months, rallying about 1,700% this year to a record high of nearly US$20,000 (652,500 baht) before a sell-off that began last week sent the cryptocurrency below $12,000.

Bitcoin fell nearly 30% at one stage last Friday to $11,159.93 and, despite a late recovery, had its worst week since 2013, according to Reuters.

Bloomberg yesterday reported that bitcoin resumed its tumble after South Korea said it was eyeing options such as a potential shutdown of at least some cryptocurrency exchanges to stamp out speculation.

South Korea will require real-name cryptocurrency transactions and impose a ban on the offering of virtual accounts by banks to crypto-exchanges, according to an official statement.

Policymakers in South Korea will review measures suggested by justice officials and take proper measures while continuing to monitor speculation.
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