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Thomson

I've witnessed it first hand here on my screen, in about 20 mins time or something. This means if BCH keeps going up BTC will keep doing down. Time to put your money in BCH, but you have to buy at the right time as it might pull back slightly to $2800 or something before going up right now.

As of writing BCH is at $3200
 

BCH $2000 > 2500
BTC $18500 > 18000

BCH $2500 > 3000
BTC $17500 > 17000

BCH $3000 > 3500
BTC $17000 > 16500

 

@rep1

yobit.net

 

Edited by Thomson

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Thomson

This is just what i'm thinking out loud with my fingers right now. I could be wrong and BTC could still reach my last short term target of $25,000 but i'm sceptical, it seems like Bitcoin is really going to arrive at a crossroad... one that is down and the other uphill.

Edited by Thomson
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rep1
34 minutes ago, Thomson said:

This is just what i'm thinking out loud with my fingers right now. I could be wrong and BTC could still reach my last short term target of $25,000 but i'm sceptical, it seems like Bitcoin is really going to arrive at a crossroad... one that is down and the other uphill.

Any recommendation for BCH BTC exchange?

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Paul
5 hours ago, Kreole said:

When you sign up for the exchanges, do you use your real name, or create a fictitious name to remain anonymous?  It seems that you will need to use your real name because if you are going to buy cryptocurrency from you bank account or credit card, the names have to match.

I use my real name. I am completely transparent and provide the documents requested, always.

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Thomson
3 minutes ago, rep1 said:

Any recommendation for BCH BTC exchange?

https://cex.io/
or
yobit.net

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Goetz1965

They now pump money into Bitcoin cash - thus making Bitcoin cheaper - so more people will buy "cheap" Bitcoin now - so the price will go up in 2018 

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Kreole

I signed up for an account with Coinbase.  I don't have smartphone, only talk-n-text in the RP, so can't do any transactions via cp.  Does anyone else make transactions via laptop from the Philippines?  There seems to be some confusion.  I am a US citizen but I think that since my isp and cp are located in the Philippines, Coinbase thinks I am a Filipino and will only allow me to purchase in PHP.  Any way to get around this?

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Paul
8 hours ago, Kreole said:

I signed up for an account with Coinbase.  I don't have smartphone, only talk-n-text in the RP, so can't do any transactions via cp.  Does anyone else make transactions via laptop from the Philippines?  There seems to be some confusion.  I am a US citizen but I think that since my isp and cp are located in the Philippines, Coinbase thinks I am a Filipino and will only allow me to purchase in PHP.  Any way to get around this?

How do you handle Two Factor Authentication (2FA)? 

You should buy a smart phone, or possibly a tablet, to use Authentication Applications. You really need to make sure you use 2FA, at least, to protect your accounts on each site you use for trading. I use Google Authenticator for iPhones. But, they make the APP available for both Apple and Android devices:

Google Authenticator for iPhone
Google Authenticator for Android

Regarding doing business in PHP on a laptop, have you considered attempting to use a VPN? I currently use one called TunnelBear. Or, maybe just open a PHP account in the Philippines, to send / receive funds? 

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rep1

Both are dropping sharply today!

Whats Ripple?

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Soupeod

 

Quote

 

A new hack serves as a reminder of Bitcoin’s structural flaws

The latest string of hacks and alleged insider trading raise questions about cryptocurrency institutions

A virtual heist hit a Bitcoin exchange in Seoul — again.

Youbit, a South Korea cryptocurrency exchange, announced it was closing its doors after digital robbers stole an undisclosed number of bitcoins. The exchange was hacked for the first time in April, when an estimated 4,000 bitcoins were stolen. While bitcoin has dramatic, sometimes hourly fluctuations in value, at today's going exchange rate of $15,000 USD per bitcoin, such a hack would equate to around $61 million lost; although in April, the same sum of bitcoin would be worth only around $4 million, as they were trading near $1,000 per bitcoin back then.

This more recent hack took a reported 17 percent of Youbit's assets, according to a Reuters report. The precise amount was not specified. The Reuters report also noted that the Korea Internet & Security Agency (KISA) is investigating the cyberattack.

The previous hack of Youbit in April was reportedly linked to a hacker group in North Korea. Indeed, North Korea is suspected to be the culprit in this latest hack, though that remains unconfirmed.

This also marks the second time this week that North Korea has been blamed for a cyberattack.

The hack of Youbit comes at a moment of truth for cryptocurrencies. In the past month, bitcoin reached its highest value ever. That, and the announcement that both the Chicago Board of Exchange and the Chicago Mercantile Exchange would allow futures trading in Bitcoin, also gave the currency mainstream appeal.

Youbit isn’t the only cryptocurrency exchange to suffer a PR nightmare. CNBC reportedyesterday that Coinbase, a U.S.-based exchange, was under scrutiny for alleged insider trading. On Dec. 19, the value of Bitcoin Cash — a currency which spun off of bitcoin — started to rise immediately prior to Coinbase’s announcement that it would be supporting it, a coincidence that raised suspicion. Brian Armstrong, Coinbase’s co-founder, wrote a Medium post detailing the company’s trading policy, and announced that an investigation had been launched.

“Given the price increase in the hours leading up the announcement, we will be conducting an investigation into this matter. If we find evidence of any employee or contractor violating our policies — directly or indirectly — I will not hesitate to terminate the employee immediately and take appropriate legal action,” he wrote.

While reports such as these might make one skeptical of the structural underpinnings of cryptocurrency, one expert says it might not be the cryptocurrency that is flawed — but rather the institutions exchanging and holding the cryptocurrency.

“It’s not the inherent security of bitcoin that was attacked, it was the security of the organizations that are keeping track,” Clifford Neuman, Director of USC's Center for Computer Systems Security, told Salon.

Neuman explained that these exchanges are no different than banks, but they are subjected to fewer regulations, which could be linked to their unforgiving vulnerabilities.

“If the exchange holds funds on behalf of its customers, either in its own Bitcoin wallet, or in Bitcoin wallets that it manages on behalf of its customers, then a hack to the system managed by the exchange can allow the attacker to obtain private keys associated with the bitcoin accounts or otherwise cause transactions to be initiated,” he said.

Yet some argue that the lack of regulation surrounding bitcoin is precisely the source of its appeal. Economist Joseph Stiglitz argued recently that bitcoin is "successful only because of its potential for circumvention, lack of oversight." Yet if the lack of regulation surrounding bitcoin is part of its appeal, it is also a drawback: hacks, insider trading, dramatic fluctuations, and a lack of a "bank" or somewhere to put one's money have become the norm.

e03fMore worrisome is the process of tracking and penalizing the criminals who orchestrate these hacks. And given that cyber-thieves may be orchestrating hacks from across the planet, or working under the guise of state intelligence agencies, it is unclear if many are even in the grasp of law enforcement.

 

 
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Paul

Don't confuse Youbit, with Yobit. Yobit is still business as usual.

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Thomson

That Korean Bitcoin exchange was just a very small exchange. It did not represent much to the global cryptocurrency trade, and not even to the Korean market.  This has nothing to do with the current big correction.

Bitcoin is down almost 40% now, as predicted by many big investors. The price will inevitably go back up, once all the weak hands have been shaken out. It has gone down so fast the past days, and it will go back up at a similar pace. 

Just one thing that concerns me right now are the huge Bitcoin transaction fees. 
 

Edited by Thomson

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Thomson

Only Ripple, Electroneum, Aion and Kin have not crashed. All other major coins have gone down together with Bitcoin.

Ripple doesn't surprise me, because it is centralized and quite a bit different than Bitcoin - but i'm not very familiar with the other coins who have remained their value

https://coinmarketcap.com/

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