Sunday, March 18, 2018

Ankar might be wrong

The latest of the value of bitcoin is about $7900 which is going down not going up. For me i still believe that probably the corrections of about  $10,000 for the price of bitcoin is not yet over so probably it will go down on a price that we dont know we just have to wait. But for those who had already have invested a lot will be really be worried, because they will be losing. 

Let us watch a video of a technical man who supports bitcoin; 

Ivan on tech  discussion about falling value of bitcoin, coin check hack money and the laundered money Mt. Gox. Looking at bitcoin from a bigger and see where bitcoin is heading

1. Ivans program is live at You Tube, Facebook, Twitch and Periscope , he had done this because of the googles planned to get rid of bitcoin ads 

2. The market is -5% on bitcoin and other cryptos are negative reason 1 it is just losing steam when it comes to public interest in google searches. 

3. In one way it is a good idea we need to stop the hype and focused on building things . When you are still on the market when it is  this bearish , or i mean if your interested you are still learning from the crypto currencies, although the interest for cryptos will be lower but in a way those who are just for the hype or the white paper will just be remove . Though its very painful personally but for the market , i think it is good to remove the hype temporarily. The hype will come and go. 

4. Reading from the story of bitcoin ; the adoption stage or adoption stage , the telephone, tv, video games and so forth so you see how they got adopted thru time and you can see that bitcoin is not the same with others,  it is just beginning and had not reached the mass adoption , it is still not even closed to the potential of bitcoin.  You can even hear some people say that bitcoin will never work , bitcoin had failed and it had completely not delivered its promises. 
This had happened in the year 2013-24 when everybody were negative that move the bitcoin value from 1000 to 200 which is about 80%.  But if you look after that bitcoin had reached about $20,000 , $10,000 , this is also a sign of good entrance point , so to quote Warren Buffet "be greedy when others are fearful,  be fearful when others are greedy.

5. We have evolved in an interesting direction compared to nine years ago, it is safe to say that the currency had come a long way , the banks had showed their interest with bitcoin , more and more institutional big corporations, are saying that bitcoin is a threat to their business models and future operations.  I think we have reached a higher level of peoples understanding of bitcoin, also with big banks and corporations had a clear understanding in the future and they are now also finding their place in this new crypto finance . 

6. About crypto currency complaint , during the fall of the prices the number of complaints increased by 60%, its this that people complaint with coinbased and other crypto currency players , that they are not getting their money fast enough, not getting their money on the time they want it, and so forth. Its understandable that complaint will reached the critical level , when a lot of people exits and people believes its not going anywhere . In the chart 40% of the complaints was about the money was not released as promised, 10% was about other reasons  , 11% for the scam and so forth. How are you affected, did you lose money? this matter had to be discussed and this is also problematic. 

7. Mt. gox trustee denies that he is the reason for the crashed of bitcoin. Why some people are looking at these, because they correlate the crashed with the date that the sudden pullback of bitcoin with the movements of fund with the trustee wallets,  it is seen this as a conspiracy, or a legit theory . But with the trustees message that he is not to blame for the price downfall of bitcoin it was only a coincidence that when the price fall , it was the time that the trustees bitcoin was transferred. 

8. About money laundering , but who would know that there was money laundering with bitcoin but this had to do with coincheck hacked , several hundred millions have been stolen and the NEM foundation, and the other exchanges are being tracked for the funds from the blockchain . So they can find the identity of the hackers through the blockchain but there are still reports of money laundering , in a report of nickai, about 18 million had been laundered through money exchanges. So if you robbed an exchange the main problem is what do you do with the money?  how can you use the money when everybody is tracking the funds movement with the public blockchain the funds can be traced and the hacker.  According to the report they were able to get the bitcoin through the regular exchanges , so the bigger problem is how there were different hacking incident in the past with exchanges and very few cases were solved , so coin check is no different with these incidents so these is a huge problem in crpyto space and there are no solutions yet . Binance is now doing an offensive strategy offering bounces for those people who can find hackers or help in the investigation of these hacking problems. 

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