ECB has some vested interest in bringing down bitcoin or POW mining to be precise. They have already created a certain proposals for the EU countries which are still being debated but the motto of the proposal is to ban any type of POW cryptocurrency from the soil of EU. So it's no wonder that ECB is making statements essentially demeaning bitcoin and cryptocurrency in general.

However, these are speculations! It will definitely be tough if the ban proposal is passed in EU parliament. But even then, that will be temporary. As EU miners will shut down, the difficulty will reduce. So a lot of old miners from different parts of the world may come back into action to fill in the blank. So I personally don't see a reason to belive in ECB and its statements.

Utter nonsense! Who will account for the millions of deaths that will happen if ww3 starts? Is it a fair price to pay just reset the economy?

There are several hundred measures available to tackle inflation or hyper inflation. World renowned economists are available to assess the situation and act accordingly. War is not a solution. Don't sound like an American, please!

I truly belive in this! But bitcoin doesn't have to destroy anything to be honest! It's just about time, the shitcoins are usually rejected by the market and no one really cares about it! That's the usual dynamics of the market. Bitcoin doesn't have to do anything here!

The entire crypto market is at a very nescent stage where we are acquiring new users every single hour. Not all of them are educated about cryptos. As the time goes, as they gather more experiences, they start to understand which is what! That's when they choose their investments wisely. It's normal rules of the market which will happen with time.

Probably yes, probably not! The world equation is changing drastically along with the economic scenario and also with the cold powerplay between US and China. Apple has already moved out of China and started building their production hub in India as a JV with TATA group. Canon has closed down their factories in China and moved out their production to elsewhere.

I think it's a cumulative effect that China is facing. Also I think it's great for the world economy because China is the biggest threat to world peace after US. While US attacks the oil rich countries, China attacks their neighbours. If global institutions are moving out of China and their exports are declining, that might balance couple of things for the rest of us.

Governments will never issue stablecoins on a mainstream blockchain like ETH. I will draw example from my own country which has recently introduced digital cash on a blockchain. This is a private blockchain our central bank has used. So even if the digital currency is using a blockchain, it's centralized to the core!

Also this digital currency is created outside of banking network. Which means, you have a separate wallet where you need to buy digital currency using fiat at 1:1 ratio. Then use that wallet to do the transactions which is happening outside of bank accounts. I honestly don't see any government using mainstream crypto blockchain to introduce their own stablecoins ever!

I see some members are again resorting to an old argument of one bitcoin is equal to one bitcoin. This is nonsense and not practical at all! Bitcoin can't replace the world order of fiat economy. Bitcoin can become a parallel currency system alongside the fiat economy and that's what is happening slowly.

Bitcoin is a super volatile asset and unless its price is fixed, there's no way people in reality will practice one bitcoin is equal to one bitcoin.

 

Market cap is a flawed parameter to measure a coin's performance! Let's assume you create a coin with 1 billion supply and you have sold one coin for $100. Then your market cap will become 100 billion US dollar. Regardless of the fact that you have only sold one coin.

So never judge a coin based on its market cap. Rather look for the daily transaction volume and the the volume traded in exchanges. That will give you a better understanding of a coin's performance.

My thinking is exactly opposite! A small business must not accept cryptocurrency as payment. Usually a small business rolls over the money. They always need working capital to sustain and that working capital has to be in fiat unless and until their wholeseller accepts crypto. Also the price volatility can easily eat up their profit within a very short period of time.

So my personal recommendation is not to use crypto for a small business. They can have a service where a thind party converts the crypto immediately based on the current market rate, that's when it makes sense for the small businesses to accept cryptocurrency.

May or May not be! This is a data gathering phase. Nigerian government wants to understand how many people uses cryptocurrency or what is the volume. Based on this data, they will forecast potential tax collection. If that amount excites the government, they will probably legally adopt it.


In my country, it is scaring off people due to 30% direct taxation rate without any opportunity for writing off the losses.


Depends on multiple factors! If the tax rate is low and there is a legal framework available, then it will help in adoption. Otherwise it will just scare people out of the market.

I don't know what others think, but I feel that cryptocurrency is not an asset for long-term investment due to its extreme volatility. Even if we need to use it for the long term, use a very small portion of it. Cryptocurrency is mainly an asset where your position needs to be validated constantly. Get in at the right time, get out at the right time, and re-enter at the right time again. That's what should be the ideal workflow of crypto investment unless and until you have cryptos hoarded since 2009.

I always try to re-position myself in the crypto market rather than keeping my coins idle. I sell when the market is hot and high, I re-enter when it's cold. I make profit along the way!

There are multiple reasons why many people including crypto veterans don't use hardware wallet,

1. It's not completely decentralised
2. Hardware wallets are costly
3. People can use good antivirus and anti-spyware for their PC

I am personally attached with bitcoin since 2016, but I have never used a hardware wallet because I never felt like using one. Electrum is good enough for me!

I love this statement! This is super true! Freedom should not come with terms and conditions or anything attached to it! So if a bitcoin owner wants to do kyc and wants to pay taxes on the transactions and profit - that's freedom!

Shying away from taxes and regulations will only make our life worse because the entire system is centralized and connected. Bitcoin 9r cryptocurrency market is not matured to such a level where you can just live off it. If you want to fully realise the potential of the bitcoin you are holding, at some point of time you will have to integrate with the real economy!

Proof of reserve is a good idea and Binance has already implemented this to show their liquidity to their users. That worked well for them! I am not sure if anyone else is doing that, but if other exchanges are planning to follow the same, that will be great!

However, that's not the only indicator you should rely on. It doesn't show their debt in the market. It doesn't show where they have invested their money. It doesn't show how quickly they can liquidate their investment if needed.

In order to achieve complete control of your funds, either move to a decentralized exchange that doesn't hold your fund, or stop keeping your funds in the exchange wallet. As simple as that!

Wow! The articles uses very strong sentences throughout!




This is far from ideal. But as you have rightly said, what else can we expect from a banking regulator! Also if they are adding the environmental aspect to it, their stance will become even more negative.

We are still standing at a very nescent stage for EV market. We have very few global players in this market and Tesla is right now enjoying absolute monopoly. So the percentage that you see, is just the beginning!

So if you want to get rich in next few years, invest in some EV related stocks because this market is going to explode at some point of time. The percentage that you see now, are going to be higher in a very short period of time.

It's not easy to replace a century old system but EV market has started making its mark!

Good news! But before it becomes applicable, it still needs 5o be signed by the President. Then only it will become effective in Brazil. So wait a little before the actual celebration.

Also I see that cryptocurrency is classified as an investment asset class. So Brazilians should seek further clarifications on how it will be taxed. Investment assets are usually taxed based on the gains made and also the timeframe is considered for calculating taxes. So little bit of grey area is still there. But net positive, I must say!

Just a little correction! It has not yet started but just got announced that they are very close to starting it. Read the news here,

https://www.fidelity.com/crypto/trading

They have started registering interest from the market. Also you need to note one very important point from their website FAQ section,


So it's very similar to what Paypal offers in the market already. Trade and take your profit in fiat. No crypto transfer is allowed at this moment.

The entire ICO market is dead so the bounty market should be dead too! So I won't recommend anyone to join any bounties now. We all have to change with time.

If you want to earn serious money, freelancing is the best way to do so. Some client will also be willing to pay you through cryptos.

Startups are everywhere nowadays and these startups don't hire expensive people at the beginning. Rather they try to find a freelancer. That's where you need to tap in. Digital marketing is the most niche skill in freelancing market.

Regarding business, Elon and Mark is same! Also I don't understand why there is a need of a new stablecoin only for Twitter? Why can't Elon use one of the stablecoins already running in the market. Creating absolute monopoly is a great business practice but not very beneficial for the users.

So from an individual's point of view, I wouldn't like if Elon tries to create a separate stablecoin to be used in Twitter. That's not what cryptocurrency is meant for and that is why Libra failed a big way!

It seems, as per the Export Administration Regulations act, cryptography or encrypted items of specific types are indeed considered as Munitions.

Read here: .https://en.m.wikipedia.org/wiki/Export_of_cryptography_from_the_United_States

So there are some legal provisions available for the Twitter battle that is ongoing! I am sure some moron within the government will try to prove it in the court of law as well. Thankfully, US doesn't represent the rest of the world!