The Bitcoin

Lioness

Trader
Jan 2, 2014
7
0
12
www.dailyforex.com
I know I have discussed the bitcoin before but I am prompted to do so again. I have always looked at the bitcoin as a scheme to make some people a pile of money at the expense of most other consumers. And I still see its demise somewhere down the line. Yesterday, the bitcoin made the news again when the Japan-based MtGox, the biggest Bitcoin exchange outside China, halted outside transfers from its clients' bitcoin wallets. They attribute this to a tech glitch but I suspect there is more to it than meets the eye. I try to read as much as I can about the bitcoin and continue to harbor doubts as to its legitimacy. Even some major review sites have stopped reporting on it......(see http://www.dailyforex.com/forex-technical-analysis/bitcoin-forecast/page-1)
Can we continue to view the bitcoin as a legitimate currency worthy of being traded on the forex markets?
 

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
24
32
Canada
I know I have discussed the bitcoin before but I am prompted to do so again. I have always looked at the bitcoin as a scheme to make some people a pile of money at the expense of most other consumers. And I still see its demise somewhere down the line. Yesterday, the bitcoin made the news again when the Japan-based MtGox, the biggest Bitcoin exchange outside China, halted outside transfers from its clients' bitcoin wallets. They attribute this to a tech glitch but I suspect there is more to it than meets the eye. I try to read as much as I can about the bitcoin and continue to harbor doubts as to its legitimacy. Even some major review sites have stopped reporting on it......(see http://www.dailyforex.com/forex-technical-analysis/bitcoin-forecast/page-1)
Can we continue to view the bitcoin as a legitimate currency worthy of being traded on the forex markets?

If I remember correct then the reason for the MtGox closure was hackers and they stole over $2.4 million.
 

volatile41

Trader
Feb 19, 2014
10
0
12
I think it will have similar fate as liberty reserve. But before that many people need to pour money in bitcoin before it crashes.
 

Emibluz

Banned
Aug 22, 2013
165
0
27
I think it will have similar fate as liberty reserve. But before that many people need to pour money in bitcoin before it crashes.

Do you even know what Bitcoin is? Did you trade liberty reserve in the forex market? Lol.. I was hoping you would answer me
 

volatile41

Trader
Feb 19, 2014
10
0
12
Heh... What's common between Liberty Reserve and Bitcoin?

Both Unregulated. :) Feds will find a way to screw people of their money.

Do you even know what Bitcoin is? Did you trade liberty reserve in the forex market? Lol.. I was hoping you would answer me

Don't know much but I know that it is a crypto currency which is now introduced by few brokers as a trading instrument. People did not trade LR as an instrument but used LR as a payment processor. Who lost and who enjoyed with that money?
 

KennyMill

Trader
Feb 18, 2014
20
0
22
Budapest
The recent mtgox incident goes to show how much the quality and presence of exchangers affects the prices of bitcoins.

The bitcoin enviroment is unregulated, sure, yet there will be no value in them unless demand and supply can meet halfway - through exchangers.
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
4
49
Bitcoin is on the way out..not that surprising seeing how a select few have started to use it for laundering purposes or so the fed would have us believe. Either way, it is on the way out or is fast headed down to the basement..
 

KennyMill

Trader
Feb 18, 2014
20
0
22
Budapest
Bitcoin is on the way out..not that surprising seeing how a select few have started to use it for laundering purposes or so the fed would have us believe. Either way, it is on the way out or is fast headed down to the basement..
Aren't you at least surprised how prices have remained relatively stable even after Mt Gox shut down? A lot of the exchange action moved away at the right time, so I don't think it will go down that fast. There are still plenty of billions worth of value, it will be tough for that to evaporate no matter what the feds do or try to make us believe.

I'm in no way an advocate for the system, just saying how I view things.
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
4
49
I don't think it is going to go out in a flash, more of a slow whimper..
Central banks and governments rarely love any online currency and when it comes to bitcoin and the lack of regulation, all hell is bound to break loose..which it did and if LR is any benchmark, we may expect more stringent actions against BC..
 

Pete777

Trader
Aug 24, 2016
9
2
9
49
I'm surprised to see many users here adopting the view that bitcoin is going to die and that banks and governments will shut it down. I think nothing could be further from the truth. I think in general any big company and any other currency can go down faster than Bitcoin today. As long as there is technological progress Bitcoin will be going up. There is a lot of pressure and expectation on Bitcoin at the moment and because it didn't rise phenomenally after halving and Brexit some people think it's going to die. Most tech companies submerged in Bitcoin believe its value will rise astronomically in decades. What makes them think that, perhaps it's time to find out.
 
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radex78

Banned
Nov 15, 2015
676
17
54
45
I think it will have similar fate as liberty reserve. But before that many people need to pour money in bitcoin before it crashes.
What do you mean if bitcoin also will occur similar condition with libertyreserve? I am also still remember and your statement remind memories if I am still have funds on these payment processor but then shut down already before convest to my local currency
 

Ary Barroso

Active Trader
Jul 9, 2017
908
71
39
35
I know I have discussed the bitcoin before but I am prompted to do so again. I have always looked at the bitcoin as a scheme to make some people a pile of money at the expense of most other consumers. And I still see its demise somewhere down the line. Yesterday, the bitcoin made the news again when the Japan-based MtGox, the biggest Bitcoin exchange outside China, halted outside transfers from its clients' bitcoin wallets. They attribute this to a tech glitch but I suspect there is more to it than meets the eye. I try to read as much as I can about the bitcoin and continue to harbor doubts as to its legitimacy. Even some major review sites have stopped reporting on it......(see http://www.dailyforex.com/forex-technical-analysis/bitcoin-forecast/page-1)
Can we continue to view the bitcoin as a legitimate currency worthy of being traded on the forex markets?

Oh; you posted on 2014!! I guess you have earned enough and till now gaining! But I missed that chance. By the way, now I have a long term plan on crypto.
 

Ary Barroso

Active Trader
Jul 9, 2017
908
71
39
35
Why some sceptics already "scary" about this Bitcoins and some other coins which are stable now, lot of people already make money and their accounts grow and grow over time. Do that with your free money and do not invest everything for "all in" approach.

Yes; the crypto sector is developing and I see, investors are accumulating here! By the way, can you please mention 2-3 names of stable coin?