Anyways, crisis time is completely an awkward situation, where most of cryptotraders lose their control over "what we should do right now"
actually this situation happened in the past and happened in a period of few months. yeah you're right it makes us feel confused what to do? because the market situation is more likely to decline while we need the active income from trading. it really makes skill and intelligence desperately needed... |
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And what would be the difference between using bitcoins and banknotes or gold? With these you can't do money laundering? Come on, be serious ...
I think we don't need to be hypocritical that bitcoin does make it easy for undercover transactions because of the role of decentralization and anonymity. where the facility is not owned by fiat and gold. although still you can do money laundering but with that way. your assets are easy on the trace and taken over by the government. whereas bitcoin is free of all that |
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The society is divided into haves and haves not, poor people are getting more poorer and rich people are getting more richer, Value of money is decreasing and inflation is increasing, Many people around the globe suffer death mostly Africa and asia because hunger and unable to fulfill basic human needs.
What actions should governments need to take and how individuals can contribute?
seriously? you are putting your faith in governments? for all we know, they are the one who put their people in that situation, poor people is a sign of poor governance, bitcoin cannot reverse this status quo but may help in some ways like donations from big holders and rich traders in bitcoins, even small time traders can help by donating bitcoins or fiats. there are some sites that accepts bitcoin donations like bitgiv.com You are right that a country with a bad economy will have a big effect on the economy of the people in that country. therefore the role of the government is vital to their economy. can be said the economy of a country into a picture for the economy of their society. it is not possible if you don't depend on the government for your economy dude |
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With such small savings, I would start with a small investment in new promising coins and wait for them to grow, you can wait and 2 years before the coins grow and will bargain well, many so live and buy and then wait until the last and believe that the project will give a lot of profit.
I think it would be useless if you only have a small capital but you use it for long-term investment. even if the coins you buy are rising 10-fold in 2 years. the profit you will get will not be too big dude? investing is also tailored to your capital also. if your capital is not too big it's better to focus on growing for a short term like trade or something |
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Working smart can save time rather than working hard. Because it's more time saving if you work smart you can able to determine whether it is time to invest or not.
You're right. Many people work hard but can not make as much money as smart people do. They know how to save time and invest in places where they can earn the fastest I think work smart and hard work is needed. when you have a very busy job then smart work it will play an important role in how you manage your time to work and so on. work hard is also needed because sometimes lazy to work is also in the natural happen by everyone. work hard will keep you excited dude |
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Many bank fear Bitcoin. And there are more reason present behind this. People mainly use for secure money transaction. But Bitcoin provide better secure money transaction facility with more advantage then bank due to this many people using Bitcoin instead of bank. Bitcoin provide its user an uninterrupted money transaction facility which is untraceable too. While bank doesn't provide such facility to its user. And in order to use bitcoin transaction their is no need to give full information of sender and receiver. And bitcoin provide faster transfer facility with low transaction cost. These thing makes Bitcoin better than bank ;)q
for someone who wants undercover and confidential transactions. of course they will prefer bitcoin rather than bank. but I don't think most people care about freedom and undercover. they prefer convenience and the bank gives it? comfort and ease in transactions wherever and accepted anywhere? so I don't think banks need to worry about it |
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I do think same as you are feeling right now. Bitcoin will surely rise back to 10,000$. If you can see the market exchanges bitcoin doesn't show it is really pump up immediately. This signifies that the slow progress is the result of more usage and investments that could have been gathered slowly over time. This is a good sign that many are really back into it and not just one person manipulating the market which if controlled that way could just turn bitcoin into what they termed as a "bubble".
yeah you right, bitcoin prices not pump significantly but look at price changes go up slowly but surely and we will reach the price of $10k soon. so I think the bitcoin price will keep going up for the next few days not because of manipulation but this is a natural change. buying right now is the right thing |
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Well, i just thought, if bitcoin become a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax are used by the government to make that country a good one, without tax, what will be used to spend and make that country a good one?
What do you think?
Absolutely yes, Bitcoin can ruin a country that if Bitcoin can help to improve the economy it can destroy too, that if the local paper money can be use in illegal activities such in money laundering, smuggling, gambling and scam then its the same with Bitcoin too. This is simply because both are currencies that can be spend anytime and anywhere but only the platform is the difference. That is why the need of regulation is a must to protect the Bitcoin. that is what the government fears, though bitcoin can provide financial benefits and economic progress for certain circles but bitcoin can also be bad because there are certainly some people who may be able to abuse bitcoin for their interests such as money laundering and so forth and it will be very detrimental to the country |
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A society cannot be called completely cashless society even if it is mostly using digital money. We cannot still deny the fact that we need the paper money to regulate the economy of our country and to identify us that the currency we are using is belongs to that society.
I agree. The fact that digital money is becoming more and more popular does not mean that ordinary cash will simply disappear. In some situations, we prefer to use cash. I think that these are different types of money, and therefore the digital money will not be able to completely replace the cash. Yes cashless society is a great idea but this will not be possible in the near future.Every person uses fiat currency for their day to day transactions.Fiat currency can be used anywhere and anytime unlike the digital money which requires internet connection to get operated.It also requires some knowledge.We need fiat currency to regulate the economy of our country.The digital money is also subjected to risks,fraud,scams too.It is also decentralised. At least for now cashless society has not been able to apply because of the limitations of many things such as resources, knowledge and so forth. you know that not everyone can use digital currency. many people are still comfortable using cash at this time but I think cashless society will definitely happen because of the impact of technological developments. but it takes a long time |
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They can create their own cryptocurrency for sure because they have a big network which consists of a lot of people like smart people that can generate their own brand of cryptocurrency and i think that they will do it once they see that the decentralized cryptocurrency is being a huge threat so they will make their own one which is surely centralized.
If they about to make a centralized cryptocurrency, I'm kinda curious which system they use to implement into their crpytocurrency, if it's blockchain, how can they turn blockchain which is from the beginning already decentralized to centralized ones. And will they tie their cryptocurrency to their local fiat? it's getting more interesting if you think about it. yeah I'm also curious how they can control their own crypto if they want to make it but I think it looks silly you know ? I was more of a think that the government would not make their own coins but more likely to cooperate with other crypto because I think there's no way to control entirely on crypto |
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I think one of the reasons that makes bitcoin valuable is because bitcoin is very much in demand by many people in the world. Another is that bitcoin helps us by being convenient and gave us less hassle in most of the transaction.
I agree with you, people are having a high demand towards Bitcoin and it tends to bring more popularity in Bitcoin. And it makes it valuable; also the price makes it more valuable. I think at this time many investors don't see the peculiarity of bitcoin like anonymous and decentralization. they invest in bitcoin because they see bitcoin markets very crowded and continue to grow in number of users and make them interested to invest in bitcoin. thus making the demand continue to creep up |
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I think that Bitcoin can be use as a matter of fact to be globally accepted. What is your take and which currency can you suggest to be accepted globally?
It could be possible that bitcoin can be globally accepted, but to be a global currency is nearly impossible for bitcoin. I can't really imagine that bitcoin would be a single currency in the world, because of its one feature that is really hard for everyone to use it all the time, because it's only available on the internet and no physical appearance like the usual currency. first it is impossible for the world to have only one currency. we know that a country's economy can be seen from their local currency exchange rates. what if we only have 1 currency in the world? let alone just bitcoin? of course it is impossible to happen. it may become possible if bitcoin becomes a currency used for international currency. anyone can use it anywhere. but local currency also still exists |
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For more than a century, the banking system was used to fund state, endanger the stability of the economic activity, robbing private savings, eliminate one road, promote the financing dependence, even make violent reached an unprecedented scale, all because we do not have different techniques to implement monetary exchange. Now the monopoly is being broken. Bitcoin was born. The fear of the ruling class is only just beginning.
Do you think bitcoin will replace Banks in the future?
There have been topics like this before. And I will still say, bitcoin will never replace banks and will not replace anything in this world. Bitcoin is an additional currency that has good price or value. Banks just need to adjust the way they think about crypto. Banks will comtinue to exist and will stay I think forver. I agree with you my friend ☺ Bitcoin has its own uniqueness in terms of value . Bitcoin cant replace banks for it is notthat powerful . yeah we know that bitcoin is a new innovation of a financial system which is free and easy to use but that doesn't mean it will replace the bank which in fact has become the main pillar for the state finance. the bank is too superior to be replaced dude. the role of banks is vital for state finances, while bitcoin? currently only a problem for the government |
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Do you believe in the reliability of information obtained by technical analysis on crypto-currency market?
Based on my understanding, yes. Technical analysis makes a big difference when you are investing in cryptocurrency. Why? Because it can give you a scientific proof on how the market is moving and when is the right time to invest and sell our stocks. of course it will be very helpful because with that analysis you will get an idea of how the price changes that occur in the market. whether the price will go up or down will depend on your technical analisys. and with that you can formulate what choices you would like to sell or buy according with result of your analysis |
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I obviously prefer to play a trader rather than gamble because when you gamble and you lose your assets instantly disappear instantly while if you play trading then when you experience a loss you will not immediately lose your assets if you have not sold the assets you have at a cheap price.
yeah because it's almost impossible for one coin prices to fall 100% so you will not lose as what you get when gambling. I think the risk to trade is also much smaller than gambling because it depends not only on luck but there are many aspects that affect win such as skills, knowledge and experience |
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Lots of people do say that panic selling can lead to the price rate of Bitcoin falling down, but I don’t really believe that, by the way you’re not even the only making use of Bitcoin so if you believe you should sell your Bitcoin immediately to avoid the loss you should go on and do it.. The truth is that the price goes way too high more than it should because of the greedy whales that pumps it and when they withdraw they take everything and the price will fall to a very low rate. So your panic selling don’t do much..
if panic occurs massively then it will cause a price reduction because too much supply and demand decreases. if panic only happens to some users it will not be too influential to the price. the whale may also not be so influential as to see the current marketcap going higher. |
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Electronic money is just a new solution in recent years and it is close to a lot of time to prove its usefulness and convenience. Paper money and coins have existed for thousands of years and their existence has been documented and studied. One more thing not everyone has the means to store electronic money. There are still so many poor people in the world and they have no access to new technologies like us - who are participating in the forum.
we need a very long time to move away from the physical financial system to an online or electronic financial system. actually there are already many developments such as the existence of cryptocurrency, credit cards and many others that support the existence of electronic money. but not everyone can use it for some reason as you say many people are still poor? |
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Well, at some time it was him,well,it also depends on the market,prices are falling and falling, and gold remains always the same irreplaceable.
yeah between bitcoin and also digital gold is very different. both have only the same in investment. but in terms of risk or otherwise very contradictory for in general bitcoin may be like digital gold version. if many people prefer physical investment in gold, then bitcoin dominates for the most used commodity for online investment. maybe that's called digital gold. although the magnitude of the risk in gold and bitcoin is very much different |
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Bitcoin is also money, The only difference between bitcoin and a Fiat money is the fact that bitcoin is Digital and highly volatile while fiat is the opposite of this. however Bitcoin has several advantages and disadvantages over Fiat. Nevertheless, The role both plays are similar and cannot be overemphasised.
In fact, bitcoin is a digital money and it is like fiat that can be also used in different kind of transactions. Furthermore, fiat have exact value on market and it can be used both online and offline transactions while bitcoin you can't use it in offline transactions like paying in restaurants, fast food chain and many more. Lastly, I think bitcoin will become our future money but I guess it will never replace fiat. Yeah the difference bitcoin is difficult to use offline although in some offline place have been accept payment with bitcoin. but it's still very little so we're still very limited to be able to spend bitcoins in offline. it takes a lot of time until bitcoin is acceptable in many places dude. very different from real money that can be used anywhere. |
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Its true that banks will not make us rich. Because the interest that are given to us when we put our money in the bank are not big. But banks will make our money more secure .
more secure? I think it depends on the bank you choose because many banks are collapse or become a scam. I suggest to save money in state-owned banks because the government will not cheat on customers. but you're right that the bank will not make you rich because of the small interest. banks are not a place to make you rich dude! bank functions to save money not for place to make you rich |
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