Bitcoin Pulls 📉 Back From $15,000 / UK Steps Up Crypto Regulation 🕵 / I'm Crowd Sourcing Lyrics 🎵
Story - Bitcoin vs Dash
https://www.coinigy.com/main/markets/BITF/BTC/USD
Today Bitcoin’s price pulled all the way back to $14,000 on Bitfinex before return to over $15,000.
Meanwhile the pool of unconfirmed transactions has grown larger.
In yesterday’s episode, at time of recording we had over 140,000 transactions waiting to confirm and a total size of 140 MB.
Today the numbers are…
I got some pushback in the comments yesterday when I highlighted claims by Paulo Santos about the tiny fraction of Bitcoin transactions that are commercial.
One person specifically took issue with me talking about Dash in the context of the Steam gaming platform removing Bitcoin as a payment method.
If you remember, I said I would not at all be surprised if the business development people over at Dash capitalised on this opportunity because they are very business like.
If they see a potential customer for their payment network, they are likely to make a move to serve them.
People were also suggesting LiteCoin but who within the LiteCoin community is going to invest the time and energy to contact the people at the Valve company and then help them integrate LiteCoin?
I don’t think there’s anyone who is actually paid to do that, which means it relies on some unpaid volunteer doing it. You can’t run a business on that basis.
The user in question who goes by the name ‘BlockChain’ on YouTube asked what percentage of Dash transactions are commercial?
Their argument was that if I’m going to cite research that suggests only a fraction of Bitcoin transactions are commercial, why didn’t I turn that test back on Dash?
There’s a simple answer to that, which is that I made no claims as to how many Dash transactions where commercial. My comments were about the Dash business development team going after the Steam gaming platform as a customer, in order to increase the number of commercial transactions.
But now you mention Dash’s commercial transactions all we need to do is refer to the Dash treasury to find a new list every month of commercial Dash transactions.
This is hard evidence that at least $4-$5m worth of Dash transactions each month are commercial. There’s no easy way to produce a publicly available list like this for Bitcoin.
And just by the way for anyone who didn’t tune in yesterday, I hold about a 3rd of my portfolio in Dash.
Story - UK To Step Up Crypto Trading Regs.
https://www.theguardian.com/technology/2017/dec/04/bitcoin-uk-eu-plan-cryptocurrency-price-traders-anonymity
This is according to the Guardian so immediately you know you are going to have to filter out a load of BS.
The basic story is that as part of an EU wide plan, the UK government plans to force traders to identify themselves in an effort to prevent money laundering and financing of terrorism.
It says they are going to regulate Bitcoin wallet providers, however this can only apply to exchanges that offer wallet services, perhaps even web wallets at a stretch.
However, you can’t regulate software, so wallets like Exodus can still be used anonymously.
Even forcing UK based exchanges to force identity checks, which most already do, will do nothing but cause them to lose customers since there are dozens of other exchanges outside the UK that Brits can move to.
So the regulators can regulate the gateways from fiat currency into Bitcoin, but once you’ve got some Bitcoin, you can trade crypto to crypto anonymously all day long.
Now I’m pointing this out, not to be antagonistic to the government, I’m just attempting to identify a project that is about to expend a large amount of time, money and energy and achieve little to none of the desired outcomes.
The government really needs to spend more time understand how all this works before they start taking regulatory action.
If they don’t then they are going to waste huge sums of tax payers money which will only deepen the existing resentment against governments and push more people into using cryptocurrencies.
This is set to be yet another example of a government program that manifests the exact opposite of what it intended.
Story - Please Submit Lyrics For Remix
This idea sprung up in my private patrons chat group.
What I want to do is make my own remix of this track.
The plan is to crowd source all the best Bitcoin and cryptocurrency rhymes to form the song lyrics and then I’ll perform it listing all the contributors in the credits.
Then I’ll publish it on some blockchain based music platform.
So go nuts in the comments and submit your best rhymes and I’ll collect them all up and organise them.
▶️ DTube
▶️ IPFS
So the UK government is joining the US government in wanting to "regulate" cryptocurrency. Your point that they need to understand how cryptocurrency works before they make these proclamations, is right on. However even though they cannot regulate software and blockchain, they can be disruptive to those who have been open about having cryptocurrency. This is where social media corporations can be so helpful for their investigations. Hmmm... maybe I should get off Twitter now...
Backed with ten aircraft carriers and bully boy tactics.
toll the truth
According to Luka, a time-traveler, they use drones in a nearly future to prevent what they call "fraud", but fraud is what they do by taking our money by taxes and guns.
see the post I'm refering to:
https://www.reddit.com/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
the best again
Marketingmonk, right, they cold block all the websites we need to use crypto. But they won't. BECAUSE: they want us to use crypto. And abandon cash. And they are sitting there like hungry dogs waiting for our data
Just collecting Bitcoin over here... and yes ppl are donating. thank you
https://cryptohash.me/Welcome/Partner/waldiyanto
Bitcoin fits the full definition of money, exactly like gold, get it now ?????
Yeah, it is taking a small dive right now...but that won't last very long. It'll be back up to $18k then $20k then $100,000....we all know it.
In other news, the price of STEEM is nearly doubling to $1.90 and SBD is at $13.
Source
Source
Litecoin is still hugely undervalued.
If Litecoin had a market cap equal to mere Paypal, the Litecoin price would be $1300.
If Litecoin had a market cap equal to the 5 major credit cards, the Litecoin price would be $9000.
Only a matter of time.
I agree. Bitcoin is taking all the spotlight and that's what the hype is really about.
BTC may in fact go there but we need to play each wave as it were the last. I have never been able to adopt a HODLER mindset as I would miss to many opportunities to intraday trade; I may hold a core position if I feel real good about the buy price but I prefer not to assume the risk of holding a lot of crypto as I sleep. Sure stops are good, but whales stop hunt quite often and you get stopped out and burned there.. The crypto trading market can be a bear to tame...
https://steemit.com/bitcoin/@pawsdog/12-9-2017-the-market-view-and-trading-outlook
I agree with you....but I would say it depends on the person. Some folks aren't as glued to their PC/phone and don't monitor the price or "waves" very often. To those folks, I say just hold. To the rest, yeah, play the waves and sell and buy when you feel it's hit that bottom.
Very true sir, nice comment.. :)
ouh curious what caused the Steem to spike? Anyone knows? :) but great news!
Not sure...my only guess is that with BTC going up, somehow it's pulling this up too.
yeah :) makes sense - though sure that this is only early-early start!
When has the UK gov ever cared about wasting tax payers money? Their only concern is lining the pockets of the aristocracy and keeping the masses appeased just enough.
Yup Bitcoin is again at $15900 next target is $20000
it is important your opinion, perhaps because of the unknown before futures people get out of BTC, maybe we'll go down to $ 7000 ???
https://steemit.com/cryptocurrency/@black-square/btc-usd-possible-deep-correction-in-connection-with-futures
I am a newbie, so please forgive what may be a simple question. Where is the best place to have an account if you want to speculate and trade frequently. Thanks.
Coinbase is now the number 1 app in the Apple store.
Once you are verified on coinbase I would recommend using GDAX (the exchange underlying coinbase) It allows you to trade at market rate for .25% (1/6 that of coinbase) and at 0% if you set limit orders that don't fill immediately. This is especially important if you plan on trading frequently.
Thank You I will go have a look.
If you’re looking for just bitcoin, ethereum, or litecoin coinbase is perfect. If your looking for more. Binanse.com isn’t not bad.
Thanks, will look into it. Have any opinions on gdax?
gdax is Coinbase's "real" exchange. Go there instead of Coinbase. Better platform.
binance all the way
I agree. Coinbase is one of the most popular tradung platforms used right now. They only deal in the top 3 Bitcoin, Ether and Litecoin. Very simple format thats easy to use https://www.coinbase.com/join/5a0b0bfb0ee66c012b0e2b78
Thank You. I will just have to wire them money, having trouble getting my card verified.
if you really are looking to invest now. a 1000$ up and down wont matter to you in the long term. current price is $15500, if bitcoin fluctuates by$1000 it hasnt even moved 10% i guess everyone here are wanting a x10 or x5 returns from bitcoin or even more, so invest now as much as you can. As per my prediction bitcoin should cross $50000 - $60000 by the 3rd quarter of 2018. so stay invested.
Bitminer.io - Bitcoin Mining 80 satoshi per minute 0.0012 BTС ON DAY. ON FULL AUTOMATION / WITHOUT INVESTMENTS !!! CONCLUSION FROM 0.005 BTС ... Link to the site - https://bitminer.io/693012
The difference between the GDAX BTC price and the Bittrex BTC price is bigger than it has been in recent times and much lower on Bittrex than usual. I think that is the most significant difference in today's trading patterns.