But wouldn't those miners actually gain profit from the halving as well?
I mean, all coins are raising in value, whether theirs or ours. I do believe that what's going to change is the amount of bitcoins earned, and the value earned would be the same.
Well, I'm not expert and this is just an opinion.
Topic: It's time to withdraw ! - page 5. (Read 5767 times)
Large currency exchanges often buy and sell along with everyone else to both add liquidity to the market increasing fees collected and to turn a profit from riding trends they are best prepared to notice first.
For example the owners and/or operators of an exchange may decide to buy up bitcoins if they see a large amount of money moving onto their exchange from wire transfers or bank deposits. Predicting a large buy is imminent they will likely buy up bitcoins with the intention to sell those same bitcoins in a very short time frame.
However things start to get dicey if the price starts to swing higher or lower faster and longer then anyone could have predicted. That's why we see so many Bitcoin service providers get "hacked" during large price swings. If they can't cover their losses they shut down or clam they were hacked.
The fact of the matter is without heavy oversight these service operators can do whatever the fuck they want with your money and they generally do. And when the shit hits the fan its the users who will lose the most.
If your a day trader with millions of dollars on the line then you best get a fucking insurance policy. (If your willing to pay enough you can get insurance on anything)
For example the owners and/or operators of an exchange may decide to buy up bitcoins if they see a large amount of money moving onto their exchange from wire transfers or bank deposits. Predicting a large buy is imminent they will likely buy up bitcoins with the intention to sell those same bitcoins in a very short time frame.
However things start to get dicey if the price starts to swing higher or lower faster and longer then anyone could have predicted. That's why we see so many Bitcoin service providers get "hacked" during large price swings. If they can't cover their losses they shut down or clam they were hacked.
The fact of the matter is without heavy oversight these service operators can do whatever the fuck they want with your money and they generally do. And when the shit hits the fan its the users who will lose the most.
If your a day trader with millions of dollars on the line then you best get a fucking insurance policy. (If your willing to pay enough you can get insurance on anything)
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How does their business model work? How do they generate the 3% interest? Are they simple Ponzi schemes?
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If they are giving 3% daily, peoples BTC are doubling every 24 days. That is not happening.
Yes its almost time now to withdraw all of your funds from different cloud mining and also some small gambling sites as its more risk of scam due to the high increasing value of bitcoin price ! simply need to be awarded IMHO 
It's time to move the funds from everywhere to a cold storage. I just withdrawed a part of my total bitcoins from YoBit because seems that their service is having issues and people are having trouble with their support and the website is not always up. Hope this thread will remind people to not leave the money elsewhere.
Its pretty fucking stupid to have money in those places.
This makes a lot of sense, at this point bitcoin has rised 100$ in past 2 days so it's a good possibility that potential scam or ponzi websites are going to run away.
and they will run away because they will want to make a lot of profit out of their scami withdrew my money from all the hyips to be honest and i wait for price increases right now
This makes a lot of sense, at this point bitcoin has rised 100$ in past 2 days so it's a good possibility that potential scam or ponzi websites are going to run away.
Agreed, remove from possible run services and keep in your wallet. This could get much higher.
Some examples :
- Coince.com : With over than 785,633 users , they give you 3% Daily Profit
- HashOcean : with 615,662 users receive their profit every day.
Im surprised how many users using these sites. Maybe they just claim to have so many users to look more trustworthy.
OmegaStarScream makes a very valid point
MTGox evaporated when the price rose to $1000 from 6 month low of $120
mintpal evaporated when the price tanked to $325 from 6 month high of $650
Cryptsy evaporated when the price rose to $450 from 6 month low of $250
and those were less "risk" based exchanges.. so expect the worse from them pyramid/hyip schemes
MTGox evaporated when the price rose to $1000 from 6 month low of $120
mintpal evaporated when the price tanked to $325 from 6 month high of $650
Cryptsy evaporated when the price rose to $450 from 6 month low of $250
and those were less "risk" based exchanges.. so expect the worse from them pyramid/hyip schemes
Proof of reserve could work but there is not much demmand for it as people tend to trust too much to big exchanges, but it seems some exchanges using users deposits to cover their expences and thus working in fraction reserve system which I assume is not legal if you dont have bank licence thus insured user deposits.
but what i don't understand is "why should an exchange service go under because of price rise"?!!
Because they might using user deposits for other things than supposed like own expences/further growth/marketing. Being hacked might be second reason, but not securing most of Bitcoin deposits in cold wallet is simply dumb as exchanges need only minimum Bitcoin keept in hot walet for instant Bitcoin withdrawals.
ok i agree that this might be a good time to withdraw from all those services taht you mentiong (like giving you profit based on your investment) and also i get it that you shouldn't leave your funds with something like and exchagne service.
but what i don't understand is "why should an exchange service go under because of price rise"?!!
they shouldn't care about what the price is they should only care about the volume (because they receive fees) and when you buy or sell you do that against another person so they will always have the funds (you don't sell to/buy from exchange itself and also price rise will bring so much more volume which means more fee
but what i don't understand is "why should an exchange service go under because of price rise"?!!
they shouldn't care about what the price is they should only care about the volume (because they receive fees) and when you buy or sell you do that against another person so they will always have the funds (you don't sell to/buy from exchange itself and also price rise will bring so much more volume which means more fee
Yupee rate going higher and higher
What you are telling is what everyone knows it and even not now always it is not good to invest in the schemes which give you profit calculation high as that is not possible so it is clear that they are ponzi schemes.
I recently joined hash ocean for now i recieved a little amount on my investment everyday ,but im still hoping that they would continue to operate even if the halving takes its place
Good post. I know a bunch of people that are simply lazy ass persons that just can't take the time to get Bitcoin Core downloaded, or AT LEAST Electrum and put the god damn bitcoins in a locally generated seed. What's so difficult about it? Im not even telling them to get a Trezor, I mean this shit is free.
But a lot of them wouldn't listen. They keep their bitcoins in the exchanges the use to buy and trade, they keep their bitcoins in those sites that generate bitcoin interest like Hashocean. I have told them Hashocean and all those sites are ponzis but they wouldn't listen. Then they will cry about Bitcoin not being secure... they just never learn.
But a lot of them wouldn't listen. They keep their bitcoins in the exchanges the use to buy and trade, they keep their bitcoins in those sites that generate bitcoin interest like Hashocean. I have told them Hashocean and all those sites are ponzis but they wouldn't listen. Then they will cry about Bitcoin not being secure... they just never learn.
YES ! most of the BTC market is based on these HYIPs(ponzies) 
I don't quite get it. Either you trust those services and use them or you don't trust them and don't use them. But advising everyone to withdraw their funds is problematic as it might break some perfectly legit businesses.
It's a real pity that you can't get interest on bitcoins anywhere that is halfway safe. If you don't hold your coins in your own wallet on a computer or trezor you run a huge risk to lose your coins as well. It doesn't even have to be an exchange or cloudmining service. Nevertheless, beware of greed, I lost many bitcoins once on a platform offering interest called bitcoinica. Sometimes you win, sometimes you learn.
this is a good point altogether. but the important thing is that this withdrawing from services (for example things that you listed here and more) should be done always not only now because of the price rise.
because there is always a risk that they turn into gox and run away , yeah this risk is heightened now but it always exists.
because there is always a risk that they turn into gox and run away , yeah this risk is heightened now but it always exists.
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