China's passive digital currency will apparently bear "similarity" with Facebook's own cryptocurrency, and aims to protect China's 'financial independence', according to a senior at China's central bank.
China is hoping that the use of cryptocurrency will eventually lead them to worldwide financial domination as they can eventually get away from the powerful influence of other big countries especially the United States. However, the road to success for this endeavor will never be a smooth one and there will always be challenges and obstacles ahead. It would be interesting to watch how China will be using this tool to advanced its global ambition to be the next super-power replacing USA. |
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Just like anything like commodities or even services, things are boiling down to supply and demand. When there is a demand and the supply is slow we can expect the price to go up but if there is no demand even if there is a low supply then things will not be looking good. With Bitcoin, the demand is steady though being volatile the price can go up and down dramatically. There are actually other good platforms (even say they can better than Bitcoin) but the demand is not there or maybe the market has not been that much interested with them.
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The fact is that nobody can really predict the movement and therefore the price of Bitcoin but you can determine when is the right to buy one if you understand its up and down cycle...and Bitcoin is known for this. Right now, when Bitcoin is down or below the $10K level then buying one can soon be a profitable because it seems to rise after that though slow at times. Now, this is just my humble observation and because I am not an expert I can also be wrong.
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Cryptocurrency exchanges came into business because they foresee the big demand of the market for Bitcoin and other coins or tokens. There is no question that this is a win-win situation relationship. Naturally, the demand of the people for Bitcoin can easily be meet with the help of exchanges like Binance. Now, IF Binance did not come into the existence and become one of the top there is, the most probability is that there can be another entity right now occupying the same spot. This is just a natural progression of things and actually Binance is just filling in a vacuum using good management and always using their creativity in coming up with new offers.
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Because this remains a very deregulated marketplace, anybody can start a crypto-based project and have it be crowdfunded anytime. This is the reason why there are so many projects being introduced from time to time but nobody can sure which of these new project will eventually make it and have real value when they entered the exchanges. Many can't actually make it past the soft cap goal and many of those who do failed to enter the cryptocurrency exchanges and among those who do only a very few will have real value and can survive the harsh environment.
However, there are some very few which can still excel and will eventually be successful. Remember, that even though we are in the cryptocurrency industry, as far as the business is concerned this is still real world where start-ups can have a hard time to still be alive after 2 years. I remember reading a survey which stated that start-ups in the crypto space has only a shelf life of 14 months on the average. Reality really sucks that is why taking a time to determine a project to support otherwise just accept that many of them can just be a waste of time and if one has a lot of free time this can still be better than doing nothing at all.
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I would rather look for IEOs listed on Binance or Huobi. They ensure the legitimacy of the project. Currently no upcoming IEOs are on Binance, but you can follow the page: https://launchpad.binance.com/ to be first informed, it is important because Binance requires buying some tickets with BNB to participate in token sales. There is no argument that the term ICO is now synonymous with scams, frauds and failures that is why many new projects are already avoiding this term like bad bacteria. We now prefer IEOs or something that is being introduced via the cryptocurrency exchanges. However, there is still no guarantee here as anything can happen especially if the exchanges are not really doing their vetting job and just accepting applicants based on how much they can pay for the listing. I am wishing that the industry itself will be doing something like a self-regulation to contain the coming in of many scams which can victimize many innocent people and can damage the image and reputation of the whole industry. |
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When 2019 started you have a lot of expectation especially when the price is moving up again from a very long bear trend, you expect that the price will reach another all-time high this year, because of a lot of great news like the Facebook coming in the market. I'd like to ask the community, is your expectation close to the reality that we've experiencing right now?
Sadly, many expectations are starting to get shattered especially when we about to enter the last quarter of the year. However, it can be because people are expecting a lot and we know that ordinarily expectations can be based on thin air consequently they are more of a dream rather than based on existing realities. Personally, I was expecting that within 2019 we can get back to the $20K level and if not then at least around $15K but I think I better revised this one and straight stick it to 2020. |
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Yes, cryptocurrency is going to be there and individually there is nothing we can do about it. In the natural evolution of things as shown by what happened to the internet, there will always be some organizations that will dominate and will be taking a big slice of the pie. In the case of the internet, online monopolies like Google, Facebook and similar establishments are taking the control, influence and decision-power over all of us. And the only way we can gain back our own digital control is to dismantle these monopolies but even the government will not be able to do that so they can just impose stricter policies and sometimes penalties for different reasons. The same thing is going to happen with cryptocurrency as we still need (or many people still prefer) to use and utilize many good infrastructures and services offered by different parties. However, I am wishing that this will not be coming true and that I can be wrong.
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This is the big reality that pervades the cryptocurrency market since I started supporting many projects way back in 2017...almost no one can show real value and without exemption they immensely lost value in terms of price over time. This is actually the sad state of the altcoins universe as most of the projects actually do not have real market and if they do they can not compete well -- not even the word and emphasis on the blockchain can save them from withering under the light of the sun. Therefore, investing here is akin to throwing money to the turbulent sea and hoping that something will come out of it.
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I got Xtrabyes stuck in Yobit and it seems nobody can do anything about it. I am still hoping though that there can be a good solution to the problem otherwise it can mean just throwing money away for no purpose at all. I am now starting to regret dealing with this cryptocurrency as I might be holding an empty bag anytime from now (if not already).
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The value of the coin or token is very much related or linked to the value that it is offering to the marketplace and how people are appreciating them. When we buy some shitcoins, we should not expect that they will be shooting in price (with some exceptions, of course). Another factor is the volatility -- when the price is going up and down unstably. Investing with cryptocurrencies entails a lot of risks though the rewards can be so huge and that is why many are getting attracted to play with this market. We just have to be careful not to get into a project without first verifying or vetting if that can be genuine or not or if there is really a big demand for things it is expecting to do.
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Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.
Many people will be against state regulation of the crypto market. It's like hackers giving the green light to assigning them regular numbers. If you want to avoid scammers, it is better to come up with your own internal checks that new projects will have to go through, and this will help reduce the risk of fraud. I am also suggesting an industry-wide self-regulation wherein a platform can be established manned by people who are into the blockchain and cryptocurrency that can help vet on different projects, platforms, products, services in making sure that they adhere to the standards that the industry will itself established. This in addition to limited regulations that the government will have to do and in case of a proven scam prosecution in the courts of law. Scamming will always be here as long as we are dealing with human beings as proven with our own human history...what we can do is make sure they are minimized to the very least possible. |
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Regulations and its strict adherence is not and will not be the cure-all of possible scams that can affect the marketplace. Why? It is because scammers are so creative in concocting ways to evade the law and fool as many people around. Now, having said that, I think regulations can be helping a lot in minimizing the scams unlike in an unregulated environment where anyone who has basic knowledge on the blockchain and cryptocurrency can start a project, make a good crowdfunding effort for it and then when the revenues are at hand think of flying into an exotic paradise and hide there.
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