| submitted by /u/jmmbrito
In the past 30 days, Bitcoin is up 7.2% and only 5 coins have performed better than Bitcoin in fiat value change. And of those, only Litecoin has a market cap that puts in among the major coins. All other coins have lost value compared to Bitcoin. During this same time that Bitcoin is +7%, Bcash is -20%, for example.
This phase is a healthy and necessary and welcome cleansing of the market. When it completes, Bitcoin will take its next leg up in value to new ATH.
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 …
Google Alert – bitcoin
The post PayPal Co-Founder Max Levchin is ‘Still Trying to Figure Out’ Bitcoin appeared first on CryptoCoinsNews.
I don't want to make an advertisement thread here. So, I will just say that our network has 1,000's of professional affiliates all with their own networks of investors and crypto-based traffic. PM me for details and/or an invitation to our ICO market…
Bitcoin Forum – Project Development
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:
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