Everyone that's mainly trading in/buying Bitcoin and is concerned about it's network should start using Bitstamp. They transact in batches, has been supporting Segwit from 7th of September, and they pay for all outgoing fees.
Title says it all. Everyone that's complaining about the current situation should move their business over to Bitstamp for stated reasons. Plus they are fully regulated and licensed in Luxembourg, which means multiple audits every year, and they hold most of their holdings in cold storage. I think it's one of the best exchanges for Bitcoin's ecosystem.
I'm not shilling for them, my reason for posting this is because I want to motivate users of this sub to stop just complaining and start being more proactive - we should all show our fuck you to those exchanges that doesn't care by moving our business to those that care.
Nice breakthrough and guess what? Our friend with his sell wall of 1500 coins is no where to be seen.
Finally have the chance at a decent run up.
Well, that’s 18k! Congratulations!
+200 in the last 5 minutes!
It's not just currencies that are devaluing
I used to work as a music composer (for about 10 years, plus 10 years getting to the point of being hired) for film and TV. We didn't get paid a huge amount but enough to live on, just. Then one day our publisher said "anyone can buy software and record music now, so we're not going to pay you to record music any more". This pretty much halved our income. Plus with file sharing effecting the industry as a whole, the value of our recorded music began to drop (and is still dropping). Thing is, with music and film and books, these things can be copied infinitely now. And if something can be copied infinitely it becomes valueless.
The value is shifted from the creator to the distributor (see YouTube, Spotify, Netflix, Amazon). Which means revenue becomes concentrated in the hands of the owners of these distribution channels.
From what I read, this is effecting other jobs too. Your work is becoming of less value as globalisation and mechanisation are able to do your work for less. Plus, while central banks print money the currency you are paid in devalues as well. So you get a double hit to your income.
So when your work is being devalued because it can be replicated cheaply, you can understand the value of something like Bitcoin which can't be replicated.
Because of my experience in music and film, I'm very interested in how value can be created by limiting the number of copies. Is it possible, for example, to create unique copies of a film. So the buyer of the film is incentivised to keep his copy safe - the opposite of the current situation where owners having nothing to lose sharing their copy.
I use Bitcoin every day and I no longer hold any fiat
I pay my rent with Bitcoin, I buy my groceries with Bitcoin and yes, I buy my coffee with Bitcoin. Listening to that-other-bitcoin-subreddit and the-fork-that-shall-not-be-named-subreddit, you would think that Bitcoin has entirely ceased to be a viable medium of exchange. I disagree. My transaction fees are less than a penny when buying coffee, and they are about to get a whole lot cheaper once Lightning Network and Rootstock get deployed.
When I began exchanging my fiat into Bitcoin years ago my goal was to use it to buy things, not to hodl. This was at a time when Bitcoin was boring in price terms anyway. The problem was that no merchant accepted my currency. I knew this to be a temporary state of affairs and so it did not bother me and I kept holding onto my currency and pushing for adoption where I could.
In the spring of 2017 I received my first crypto debit card from Cryptopay. It bridged the gap between my magic-internet-money and the real world. It was exhilarating to finally be able to use my Bitcoin daily. Unfortunately, the card held euro and so it did not really feel like I was spending Bitcoin, as I used the mobile app to manually refill the card by exchanging Bitcoin into euro.
Fast forward to the summer of 2017 and TenX came along promising a card that automatically converted, at the time of the transaction, between Bitcoin and whatever currency the merchant accepted. I was one of the first to order their card, which was a real challenge at the time due to their extremely buggy software. Late in autumn my card arrived and I knew things would never be the same again.
There was one more obstacle still remaining for full adoption. I kept falling victim to Gresham’s law, which states that bad money drives out good money. I wanted to hold onto my crypto which increased in value and preferred to spend my fiat which decreased in value due to inflation. The only way to escape this was to go full crypto. The value increase of Bitcoin already meant that 95% of my money was suddenly in crypto. And so I decided to go full crypto and to never look back.
TenX works similar to an exchange in that transactions on the platform do not occur onchain. When I buy coffee I pay neither a transaction fee nor an exchange fee. The merchant pays the fee to Visa and the card issuer, same as with any debit or credit card. Transfering 0.1 BTC to my TenX account cost me $2 (100 sat/byte) and took 48 hours. Perhaps not ideal but good enough, and it allows me to purchase 1000 cups of coffee with an average transaction cost of 0.2 cents per cup. With TenX aiming to get 1 million of these cards into circulation in 2018, I feel that the world is about to get a whole lot more interesting, at least here in the EU.
If Bitcoin were to crash 90% tomorrow, I would still buy the dip with my next paycheck. But unless Satoshi were to dump his stash at the same time as the US, EU and China all tried to ban Bitcoin, I doubt we will be fortunate enough to get such a steep discount.
Slams Jim Cramer's soundboard... "BUY! BUY! BUY!"
For those not clicking the link.
TD Ameritrade customers who have at least 25K USD will have access to CBOE Futures (NOT CME) on Monday. Customers will be required to post margin (probably in USD). CME futures may be added at a later date when TD Ameritrade feels like it is "safe" to do so.
I love that guy on twitter talking about Bitcoin as if it’s an organization and that it’s a bubble that will need a buy out from the government when it pops.
Adding to the "bitcoin cash" vs. "bitcoin" confusion, this article says "Volatility in the bitcoin cash market has not been as high this week as it has been in previous weeks" (when they say "cash" here I think they're talking about the underlying bitcoin market, vs. the futures market).
Jesus these firms are getting hungry for a piece of the action. So far with Cboe launching, things have been stable, but price has been slowly increasing. So maybe this is a good thing after all. Futures are supposed to reduce volatility anyways.
Why does everything in that picture say bitcash?
Wow good catch. Are you considering that means TD Ameritrade is offering futures on Bitcash, not bitcoin? Or does that just advertisement?
Probably just grabbed the first stock photo that came up. Who knows..
I managed to convince my boss to pay my bonus in bitcoin. Got it in less than an hour.
I'll have to cherish this one.
Financially it's not different. But systemically it means bitcoin is pushing through. Next time he has an opportunity to do this with any other person, he knows where to click.
Serious question, how is this any different than just taking whatever bonus you get and buying bitcoin with the amount you're comfortable parting with?
We need more of you
That ... sounds like a bad idea.
This is the original Apple. Finally somebody decided to follow Steve Jobs vision.
Apple Unlimited. AU. The symbol for gold. Coincidence?
I hear the founder is a multi-millionaire, so we better respect him before he screams at us.
Except Bitcoin's code is open source.