Bitcoin is bonkers right now. Here's why you shouldn't count it out.

Bitcoin's price is a moving target. In the short term, the cryptocurrency is plunging in value: from north of $ 17,000 a month ago, it crashed down to around $ 7,500 today. The fluctuations are enough to make anyone wonder: What's going on? In the simplest sense, Bitcoin's price is determined through a …
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I have found I stay w in my budget and acquire more BTC by simply asking myself before I buy anything is “Would I rather have ‘this’ or buy more BTC”. BTC always wins out. Give it a try the next time you think of buying something.

submitted by /u/HumblGeniuz
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Bitcoin

Why Bitcoin price is rising on ALL exchanges, and how I see this playing out. [TL;DR: Taiwan arbitrage]

Everyone knows the issue with Bitfinex USD withdrawals being blocked by Wells Fargo.

So now that fiat withdrawals are blocked, everyone is panicking, and those with USD trapped in Bitfinex are buying up BTC to send out of Bitfinex (causing Bitfinex BTC prices to skyrocket and creating a spread).

BUT why are the other exchanges being affected?


Well, here is a KEY point in the Bitfinex post:
https://www.bitfinex.com/posts/201

Domestic transfers in all currencies within Taiwan, however, are working with no problems or delays.

This is a GOLDEN opportunity for ANYONE living in Taiwan right now.

You can send bitcoins to Bitfinex, sell them at a $ 100 premium, then withdraw with no problems to your local Taiwan bank.

Then you can just grab some bitcoins from another exchange and repeat.

This is what is keeping the spread from not going out of control, and is causing the price to rise on other exchanges.

So how will this play out?

Eventually, everyone with USD who wants to run away from Bitfinex will have bought bitcoins at a premium and sent them out.

Thus, Bitfinex can continue as either a Taiwan-only exchange, or a crypto-only exchange (and only allowing fiat transactions for only Taiwanese clients).

Doesn't sound as bad "a Mt.Gox scenario" imo, as them having liquidity in Taiwan will still give them a way to maintain an inflow of BTC to their exchange.


TL;DR: If you live in Taiwan, GO sell bitcoins on Bitfinex, it's a free $ 100 each

submitted by /u/btc_ph
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Bitcoin

Coinbase: “All outgoing transactions are reported as sell orders and show the gain or loss of those Bitcoin”. Everybody needs to see this. Moving coins is reported as a taxable capital gain, even if you never cash out. I’m done with Coinbase.

Coinbase: "All outgoing transactions are reported as sell orders and show the gain or loss of those Bitcoin". Everybody needs to see this. Moving coins is reported as a taxable capital gain, even if you never cash out. I'm done with Coinbase. submitted by /u/BitttBurger
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Bitcoin