Bitcoin is Up Nearly $300 USD This Morning.
Yesterday after I heard about the Parity hack I immediately made some moves in my portfolio to protect against any possible damage to the markets. Frankly, in the past hacks would cause the market to tumble. So I did something very conservative and moved into Bitcoin and SBD's (SteemDollars).
We also had some very positive news overnight as it looks like Segwit2x is happening. I believe this will cause Bitcoin to reach and pass its all time high. Are we out of the woods with the Bitcoin drama? Hardly, these knuckleheads will find a way to mess with my money again.
Then Poloniex goes and freezes trading of Litecoin on its platform. Poloniex still has not given a reason why they did it. Reminder once again, do not use that exchange!
The Crypto Currency Markets Passed $80 Billion in Market Cap.
Less than a week we were as low as $61 Billion now we are sitting at $89 Billion at 10am EST. BTC dominance has also been steady at 47%. This is a very healthy sign for the markets. It looks like we might have recovered but as we all know it only takes something horrible like the Parity hack yesterday to bring the markets to their knees.
Things seem to be trending in the right direction. Once we get over this uncertainty phase without a hard fork, green lights ahead. The market cap just broke above $90 billion. Lets get back to $100 billion.
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Even though cryptocurrency is highly volatile, it is still the most exciting thing I have come across in the tech world ever!
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Very useful material... thanks for this info :)
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Useful update and poloniex as always sucks
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Great to see it seems like people are having more trusts in the markets and reinvesting into cryptocurrency.
I think some of it is also down to the recent things said by McAfee and other big people that brought more people into cryptocurrency increasing prices.
The markets are pretty shaky at the moment but let's see if they remain stable.
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STEEM hasn't followed Bitcoin yet. It's pretty flat today...
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If Bitcoin goes on a run it will take a while. It acts like a rubberband, dragging the market with it up and down.
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I wasn't expecting to see Bitcoin do what it did today! I'm still skeptic...
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This is a great news for us all. It show that even a big change can not change how people believe in Bitcoin.
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So I prefer bittrex but you have to be conservative with a market that has behaved very volatile
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We are all in constant concern.
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This is all fine and dandy but I wonder is 80-100 Billion USD a realistic at this point in time. Remember BTC was meant to be the peoples money ( decentralized ) just like cash in hand with only the holder deciding what they wanted to do with it. Free of skimmers ( bank fees & Taxes ). That's long passed now ( transaction & Miner fees ) have made me personally drop BTC altogether except for in and out transactions or to play at a favorite BTC casino that has zero fees, So I use it as my BTC wallet :-).
Point being, is 100 Billion value realistic for ( how many estimated users? ) to conduct business.
Your a smart man so can probably figure out what I poorly try to describe :-)
Cheers
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If it doesn't fulfill the job it was created to do a replacement will be around the corner. We have already seen some good ones pop up.
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I will greatly appreciate your opinion on anything you think will meet the criteria. I searched for a long time but the time involved is immense in researching new coins.
Thanks
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Poloniex is having some serious issues! I hope for their own sake and anyone using the exchange can get it figured out
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There is so much confusion out there about segwit2x. BIP91 doesn't carry the 2x, that may or may not happen in November /October.
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It's not the time to relax yet, i recommend to secure your funds who hadn't done it yet and keep calm.
Even though news may look very promising.
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thanks for the news ;)
Let's go to the moon^^
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thanks for sharing, very nice!
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it may tumble too hard this time
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"Hardly, these knuckleheads will find a way to mess with my money again." LOL, yeah, you're right, but I feel like maybe it's a bit different at the moment. There's all this energy that got stored up of the past few weeks with the 'correction.' In my little food blogger opinion, this is going to create the biggest 'band wagon affect' btc has seen so far. They never buy it when it's 'On Sale,' only when it's going up. Some exciting days ahead
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Crossing fingers @Gringalicious! Are you coming to SteemFest?
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Well, there are rumors in the wind. Why, may I ask?
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We will be there of course and it would be nice to meet you.
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Stay tuned. I'm allowing the rumors to ferment
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Yes many users here said the same thing about Poloniex thanks for the heads up mate!!
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This stuff should scare people what poloniex been recently doing. One little regulation or shut down of polo which does about 70% of all trades, can cause disaster in the markets. I can see thisi happening in 6-12 months. I'm just speculating guys
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Yes, some seriously scary shit. That exchange has a foundation made of sand.
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@stray,
We are in the high volatile market and big players are handling this market! We are just prays of them :/
Cheers and thanks for this amazing article~
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My gut is telling me we aren't out of the woods yet. I'm feeling the FOMO but I'm sitting in cash for the moment.
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Thank you once again for the useful info. Seeing that I am a newbee and would like to start trading with a small amount on crypto currency, which exchange would you recommend. I see there are quite a lot being hacked at the moment.
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Yeah, Poloniex sucks, I left 2 weeks ago and that was already too late imo
Yes finally this whole UASF uncertainty is coming to an end for now... 85% of the last blocks were signalling BIT-91 :D
I actually made an article about BIP-91 and Sgwit2x implementation and it's consequences, check it out if you want.
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All great signs for the future of crypto and another reason added to the list of why I don't use Polo.
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This frequent hacks are not good for cryptos. I always try to send my cryptos to my wallets, except my steem and sbd that's on steemit. Thank you for this information.
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Excellent News. Thank You.
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Thank you for the info. We might get a new high regarding Bitcoin. I am very bullish, since all the paranoia disappeared.
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Great informations as aways my friend!
Thanks for sharing! Poloniex sucks :)
Upvoted.
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Thanks for the info. Very useful. I'm still trying to figure out the best mobile wallet for my ETH, but I'm OK letting it grow in coinbase for now. Once I want to trade it, I'll be sure to keep it as far away from coinbase as possible :)
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Why is bitcoin dominating the market when we have other cryptos that do the exact same thing(some are even better yet cheaper)? It doesn't make any sense to me...
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First mover advantage and everything is tied to it still.
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Right, "tied to it" also means you still have to buy BTC to purchase most alt coins. Often when BTC goes up, it then immediately gets distributed down to the alt coins. Over time, if they don't compete they will get beat.
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Smart Move!
I may only be a baby dolphin, but I made a similar move a few days ago...
Nice Gif Btw!
Source
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I put a little too much in SBD's but that is fine. At least I won't lose.
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Indeed. :)
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exciting day for crypto. Bitcoin back on track, now we need alts to follow.
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Good price, but sbd down
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No, SBD is over $1 USD at this moment. It is pegged to the Dollar. It was under $.90 just a few days ago.
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SBD is down though; relative to Bitcoin. Relative to USD, it's up!
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Hooray! Lambos for everyone again!
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Posting a perfect friend
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to the top and beyond :). OMG poloniex... another fail. Stopped using that exchange some time ago and will tell everyone to stay away
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I scream it from the mountain tops. What a bunch of thieves.
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It was interesting to see the markets drop while bitcoin was rising but I see a bit more green now ;-) Can you recommend any just 1 or 2 good sites that one can follow to get up to date crypto info daily or even a you tube channel i can follow Thank you for the updates
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You can follow @Crypt0 and @Dollarvigilante
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Big Block hard fork is where all the actual Bitcoin users are going: https://vote.bitcoin.com/arguments/the-bitcoin-abc-client-and-big-block-fork-bitcoincash-is-a-better-roadmap-than-both-segwit-and-segwit2x
Make sure you are going to have access to your bitcoin-cash chain coins because the segwit coins will probably lose value fast.
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Thanks for not flagging this post.
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Thanks for sharing! Cheers!
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this is it, sell now! or in 48hrs, next week BTC will below 1400. then buy back in2 dominant btc or classicbtc lol
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Nice article, thanks you. For those interested on Segwit there is a nice interview there with Jimmy Song https://steemit.com/blockchain/@ivanli/segwit-and-future-of-bitcoin-with-bitcoin-developer-jimmy-song-programmer-explains
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What you're not hearing over the segwit propaganda is that most actual bitcoin holders favor big blocks and will be following a non-segwit chain starting Aug 1:
https://vote.bitcoin.com/arguments/the-bitcoin-abc-client-and-big-block-fork-bitcoincash-is-a-better-roadmap-than-both-segwit-and-segwit2x
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I understand your point, there are important risks involved on the whole software ecosystem around bitcoin. Still on the long term, bitcoin has no choice to encode and to compress such transactions in much more efficient way in order to scale up.
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No, you're wrong. On-chain scaling is quite easy, actually.
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What the heck is going on with poloniex? Should I stop using it?
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I have been saying that for a long time.
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It's insane how volatile these currencies can be! It's also incredible for the people who can see it coming!
Great job @Hilarski!
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With all of that Ether on the loose, I imagine it will be dumped on the markets causing the price of Ether to fall.
Ether holders are probably hoping the hackers are long term holders :P
I wonder if the Ethereum team will hard fork to reverse the theft, again.
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Sounds like the DAO hack.
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Exactly my thoughts. We shall see.
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Thanks for the info :) Hoping for Segwit2x
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Glad to see BTC is recovering well and things are moving steadily Segwit2x News... i guess the market has taken the John McAfee prediction too seriously.
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It's all silly gambler..err I mean trader noise...What makes me laugh is the blockchain is supposed to be a new financial system. Yet, it's looking more and more like Wall Street. ;(
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I have the same hope with you @hilarski. The Bitcoin to reach and pass its all time high. News are positive as you say and the most possible scenario from what i read is that we will have no split in bitcoin. Thanks for the update!
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Split will be in November but the news is positive.
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thanks for sharing this info@hilarski
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Today's move in bitcoin is ridiculously phenomenal !!
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Good article, that hack ring some bells for people that feel safe, always have more than one kind of protection, you can never know when a website/wallet is going to be attacked.
I am really interested in looking how much $ BTC will get after SegWit2x is done.
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Bitcoin seems to get on track now. That's good news, i hope that this will continue.
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I like your articles Randy, keep it up
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I happened to move some bitcoin off of an exchange this morning and it showed up Ultra-fast, immediately in the wallet, like never before -- but totally unlike the last six weeks or so where it has been moving slooowly.
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It's funny you mention the freeze by Poloniex on Litecoin. I tried to make an instant purchase of LTC on Coinbase last night and was denied twice. Settled for making the purchase and waiting a week to receive funds.
These exchanges can really weigh on a guy's nerves.
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https://www.xbt.eu here there's real-time signaling, it's going steady at around 81 (although it was higher a couple of hours ago). Tonight we'll see what happens! But I also hope BIP91 will lock in.
Anyways, thanks for the overview! Crypto ON! Followed and upvoted:)
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Thanks @hilarski insightful as always
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You reckon? I doubt it...
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By September 1st is my guess.
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But heh, it looks like it could be tonight!
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Tging are looking great for BTC really. Im hoping everything goes well for us steemians too with a rise in steem and sbd price hand to hand with the btc blast off.
Cheers for the informative article and yeah. Poloniex sucks hard man .
All the best
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I just keep buying every week what I can afford. I sure feel a lot better about it than to have it rotting in some scummy bank getting almost 0 interest. I think 5-10 years from now we will all be laughing about these times when Bitcoins where this cheap.
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I wonder what on earth is going on with Poloniex. Initially it was just noob accounts that were experiencing delays. Now we have established coins having their wallets frozen - and now litecoin with trading frozen.
To me, it points to them trying to do an audit, and you only do audits if something has gone wrong...
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Yes, that is a red flag about Poloniex.
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This is rocketing up in no time
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