Rating: Empty Star Empty Star Empty Star Empty Star Empty Star
Anyone Using Bitcoin Brokers?
Previous 1 2 3 Next
leo23

Member Since Oct 12, 2016  299 posts leo23 Aug 01 2017 at 06:27
mlawson71 posted:
If you are trading bitcoins also keep in mind that the long-awaited bitcoin fork is coming on August 1st 2017 (i.e. tomorrow).The fork implies a new crypto currency, called Bitcoin Cash (BCC or BCH), will be created. In theory, you should receive one additional token, for each bitcoin you currently own. The word own is really important, as ownership in the crypto world is a bit more complicated. Some e-wallets and crypto-exchanges will support newly created coins, while others will not. (https://www.forexbrokerz.com/news/which-exchanges-will-support-bitcoin-fork)

It is not an actual hardfork as being discussed and had a long debate on this. Rather the new coin Bitcoin cash(BCC) is just another altcoin out there, but it uses the exact same code and same transaction history of the Bitcoin.

It is being done by a group of BTC miners just for their own benefit from mining fees. Since BTC source code is opensource and hence, any group having large amount of BTC can copy it and claim to have a new coin. But it can't be called a real hard fork.

In real hard fork the total number of coins will be divided in to 2 types of coins in each wallet. Here it is opposite. Here the total number of coins will be doubled one of each type for each wallet. So if BCC price will be anywhere equivalent to the price of BTC current price, then one night millionaires will be made in 24 hours since their BTC count will be doubled in one day.

xgavinc

Member Since May 11, 2011  234 posts xgavinc Aug 01 2017 at 08:02 (edited Aug 01 2017 at 08:04 )
leo23 posted:
mlawson71 posted:
If you are trading bitcoins also keep in mind that the long-awaited bitcoin fork is coming on August 1st 2017 (i.e. tomorrow).The fork implies a new crypto currency, called Bitcoin Cash (BCC or BCH), will be created. In theory, you should receive one additional token, for each bitcoin you currently own. The word own is really important, as ownership in the crypto world is a bit more complicated. Some e-wallets and crypto-exchanges will support newly created coins, while others will not. (https://www.forexbrokerz.com/news/which-exchanges-will-support-bitcoin-fork)

It is not an actual hardfork as being discussed and had a long debate on this. Rather the new coin Bitcoin cash(BCC) is just another altcoin out there, but it uses the exact same code and same transaction history of the Bitcoin.

It is being done by a group of BTC miners just for their own benefit from mining fees. Since BTC source code is opensource and hence, any group having large amount of BTC can copy it and claim to have a new coin. But it can't be called a real hard fork.

In real hard fork the total number of coins will be divided in to 2 types of coins in each wallet. Here it is opposite. Here the total number of coins will be doubled one of each type for each wallet. So if BCC price will be anywhere equivalent to the price of BTC current price, then one night millionaires will be made in 24 hours since their BTC count will be doubled in one day.


Not sure where you got your info leo23, but almost everything you said is not accurate.

It is in fact a true hardfork (you don't get a non-actual fork, a fork is a fork, soft [reversible, little impact update, backward compatible] and hard [major non-reversible update, a new system, cannot work with older versions].

The voting is done by miners, a command (or switch) is added to signal their vote when mining, miners do not create coins, they just mine the coins from a blockchain created by developers. [or more accurately extend the blockchain in echange for coins]

BCC will be created as the fork of BTC, anyone with BTC will get the same amount of coins in BCC, there is no doubling of existing BTC coins. You will need your BTC wallet private key imported into a BCC wallet to get access to the BCC, if you have your BTC on an external wallet where you don't hold the private key, chances are you will forfeit any BCC. BCC is currently estimated to open on exchanges at approx $230 per BCC, this is a guess at best, so anyone thinking you will double the value of your BTC on a 1:1 ratio are in for a surprise.

any group having large amount of BTC can copy it
Anyone with developer skills can make a pull request for the code and create their own coin, not sure where your reference to a 'group with large amount of BTC' has anything to do with this. I can make a pull request now and create a coin in about an hour with no BTC, the success of the coin depends on my vision for the coin, it's functionality and ultimately the online community <-- that is why Bitcoin clones don't last, new coins have to have a unique function and revolutionize the Blockchain technology to succeed.

For every loss there should be at least an equal and opposite profit.
mlawson71

Member Since Dec 11, 2015  1324 posts mlawson71 Aug 07 2017 at 13:19
Regarding bitcoin brokers, if you are an Alpari client (the non-bankrupted branch of it, obviously), keep in mind that the broker announced that that there will be some changes to the CryptA Capital investment portfolio. Namely, requests for the purchase or redemption of tokens (as well as the rollover process as a whole) may be suspended until August 4th, 2017. (https://www.forexbrokerz.com/news/Alpari-warns-of-changes-to-CryptA-Capital-investment-portfolio)

Furthermore, the broker says that it reserves the right to make changes to the composition of the CryptA portfolio and if this happens, it will notify each client separately.

Capitalinvestfx

Member Since Nov 24, 2015  64 posts Capitalinvestfx Aug 07 2017 at 17:59

robertonathalie@
leo23

Member Since Oct 12, 2016  299 posts leo23 Aug 09 2017 at 06:28
xgavinc posted:
leo23 posted:
mlawson71 posted:
If you are trading bitcoins also keep in mind that the long-awaited bitcoin fork is coming on August 1st 2017 (i.e. tomorrow).The fork implies a new crypto currency, called Bitcoin Cash (BCC or BCH), will be created. In theory, you should receive one additional token, for each bitcoin you currently own. The word own is really important, as ownership in the crypto world is a bit more complicated. Some e-wallets and crypto-exchanges will support newly created coins, while others will not. (https://www.forexbrokerz.com/news/which-exchanges-will-support-bitcoin-fork)

It is not an actual hardfork as being discussed and had a long debate on this. Rather the new coin Bitcoin cash(BCC) is just another altcoin out there, but it uses the exact same code and same transaction history of the Bitcoin.

It is being done by a group of BTC miners just for their own benefit from mining fees. Since BTC source code is opensource and hence, any group having large amount of BTC can copy it and claim to have a new coin. But it can't be called a real hard fork.

In real hard fork the total number of coins will be divided in to 2 types of coins in each wallet. Here it is opposite. Here the total number of coins will be doubled one of each type for each wallet. So if BCC price will be anywhere equivalent to the price of BTC current price, then one night millionaires will be made in 24 hours since their BTC count will be doubled in one day.


Not sure where you got your info leo23, but almost everything you said is not accurate.

It is in fact a true hardfork (you don't get a non-actual fork, a fork is a fork, soft [reversible, little impact update, backward compatible] and hard [major non-reversible update, a new system, cannot work with older versions].

The voting is done by miners, a command (or switch) is added to signal their vote when mining, miners do not create coins, they just mine the coins from a blockchain created by developers. [or more accurately extend the blockchain in echange for coins]

BCC will be created as the fork of BTC, anyone with BTC will get the same amount of coins in BCC, there is no doubling of existing BTC coins. You will need your BTC wallet private key imported into a BCC wallet to get access to the BCC, if you have your BTC on an external wallet where you don't hold the private key, chances are you will forfeit any BCC. BCC is currently estimated to open on exchanges at approx $230 per BCC, this is a guess at best, so anyone thinking you will double the value of your BTC on a 1:1 ratio are in for a surprise.

any group having large amount of BTC can copy it
Anyone with developer skills can make a pull request for the code and create their own coin, not sure where your reference to a 'group with large amount of BTC' has anything to do with this. I can make a pull request now and create a coin in about an hour with no BTC, the success of the coin depends on my vision for the coin, it's functionality and ultimately the online community <-- that is why Bitcoin clones don't last, new coins have to have a unique function and revolutionize the Blockchain technology to succeed.


We are now mainly focusing on Cryptocurrencies and hence, we do proper research before posting here. The information which we posted was not wrong.

You can see what happened on August 1st. There was no actual split of coin. It simply means a group of traders decided to create a new chain from the existing chain of BTC using same source code. That's all. That's why everyone who saved their private keys and kept their BTC in hard wallets got same amount of BCC as well.

But in case if a real hard fork would have happened, the actual BTC value would have divided by 2 having two different coins in two different wallets. But in this case the equal amount of coins were created after chain split.

That's the reason there was a huge volatility in BCC on 1st 2 to 3 days. It oscillated between 200 USD to 600 USD and back to 200 again, because all the free BCC were dumped to convert to BTC and BTC jumped high to cross 3300 USD because of conversion of free BCC to BTC.

FlavioGonzalez

Member Since Nov 04, 2017  13 posts FlavioGonzalez Dec 17 2017 at 08:27
TiffanyK posted:
I read a lot about Bitcoin trading in the past few months – it is like a new “trend” in trading. Becoming more popular each and every day. But I’ve never seen something written about withdrawals with Bitcoins. Is this really possible? I mean the broker should have lots of Bitcoins at first place and maybe there will be a period when you can’t withdraw (right after you deposit Bitcoins). Please share your thoughts :)




Hello Tiffany after all the time do not do these these withdrawals with bitcoin?

hotakac

Member Since Oct 27, 2017  20 posts Hotaka Ching (hotakac) Dec 17 2017 at 08:27

I do not know if I would trust the lists that recommend you, I usually prefer to try small amounts and if it works well for mene from a list from a different forum, however I'd be more

pipsabductor

Member Since Sep 30, 2017  2 posts pipsabductor Dec 19 2017 at 07:19
This is not a recommendation of a broker. This is just my anecdotal experience:

I have deposited and withdrawn bitcoins multiple times this year from forex broker JAFX.
The transaction usually takes 1 hour to be completed.
The fee, specially when withdrawing are a little bit to high in my opinion.

Hildur

Member Since Dec 19, 2017  4 posts Hildur Dec 19 2017 at 13:08
Is the fee to high to make any money?

pipsabductor

Member Since Sep 30, 2017  2 posts pipsabductor Dec 19 2017 at 15:48
Well, I am not an expert on this, but I suspect that for BTC withdrawl/deposit JAFX charges a fee equivalent to the spread + comission they would have to pay if they were trading BTC/USD... if the spread at the moment of the transaction is high, they will charge you high. Their website states they do not charge any commission, but I highly doubt it.

If you are planing to withdraw/deposit frequently (as I was mistakenly doing) it may be way better to use other payment method.

Please login to comment.
FDI - Foreign Direct Investment (YTD) (Y... (49 min)
Australia New Home Loans Rise 2.1% On Mo...(19 min ago)
EURUSD 1.23014 GBPUSD 1.38193
USDJPY 110.376 USDCAD 1.24239
FxPro

Tools

Community

Reviews

Brokers

Platform

Support


Twitter |  Facebook |  Site Map  |  Terms  |   Privacy Policy
©2014 Myfxbook Ltd. All Rights Reserved.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.