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I think that it is because their isn't any major promotion being done by any prominent enough figures. On top of that, people just flat out are unaware of Bitcoin. Only those who frequent the world wide web (internet) and are tech enthusiasts (in one way, shape or form). My mother or grandmother doesn't have a clue what cryptocurrency is nor have they heard of it, say maybe a short news clip on tv that nobody really pays much attention to. Many aren't aware of Bitcoins existence and unless its backed by celebrities & politicians most wont bother touching it being that their fiat works just fine for them.
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The mining of Bitcoin has become absurd with the amount of equipment needed just to mine a few pieces of a coin. You practically need to have thousands of dollars invested into some real efficient mining rigs to make a decent amount of Bitcoin to be profitable otherwise it defeats the purpose. I like the idea that people are redeveloping mining into more efficient and cost effective consensus algorithms like delegated proof of stake. Tradition mining isn't targeted at the novice, making the ecosystem feel not so decentralized as one would have thought.
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Right, I think the intentions for the foundation and creation of Bitcoin were good, but not solid enough to compete with physical fiat based currencies. I think that the usage and price of Bitcoin would tank if the conversion of cryptocurrency into fiat currencies were suddenly shutdown and banned by the governments around the world. I think there would still be die hard users whom will be made up of the true believers of Satoshis original vision and day one supporters of the movement.
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The article makes sense, I think we should wait a few years or so until the science and mathematics becomes more advance before planting a shit load of trees in a desperate attempt to resolve a green problem that we've haven't quite gotten to the root of yet (no pun intended). The technology is advancing, I know we need to at least prepare a temporary solution to at least alleviate the issue, while we spend the time advancing our sciences to a point that we can actually directly fix the problem. Just my two cents!  |
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Wow, Akon has come a long way, this is a pretty massive project to tackle and seems like a noble initiative, one that gives back to his homeland in a major way! I hear that smart cities are thriving over there in within many African countries. What really makes this a positive initiative is that he's taking a big leap forward by making the cities native currency a cryptocurrency. I wonder will it be a stable-coin or just a regular plain old cryptocurrency?
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I first started using Bitcoin back in 2014 and was just using it for buying pizzas from Papa Johns and other food places. Made a few purchases on Amazon and what not, but that's about it as far as everyday transactions go. Coinbase even had a debit card called "Shift Card" at one point that had let you make purchases using your Coinbase balance to any merchant that accepts visa/mastercard. It really was good for a while until they abandoned it |
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I feel as though people should just let it go, the creator and founder of Bitcoin most likely wants to be left alone. It is obvious Satoshi foreseen all of the trouble that fame and publicity would have cost and just decided to be quiet and stay pseudonymous. It's Satoshi's choice, perhaps Satoshi also foreseen the future persecution that could ensue if he did decide to go public. Plus Bitcoin could have went left as far as legal concerns go, so maybe Satoshi wanted to avoid any potential trouble? Who knows?  |
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I think that the infrastructure of Bitcoin and the cryptocurrency community/following have grown way too large and successful to go away anytime soon. There are many merchants that now transact with cyrptocurrency. Adoption of cyrptocurency is starting to make it's way into major corporations like Facebook who is at the helm of congress trying to get representation and approval for its Libra platform, that could potentially increase adoption significantly. Here is an a short video explanation presented by CNBC a major news and media outlet giving a sweet presentation on the value of Bitcoin and why it isn't fraudulent. Digital Currency Has Real Value — Here’s Why | CNBC https://www.youtube.com/watch?v=mwEXxC_rIHAJust my two cents |
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It serves as a guiding beacon of light in dark times, it proves that patience is a virtue because later on a few years later the market price would have made the initial 10,000 Bitcoins worth a staggering few hundred million(if you use the 2017 Bitcoin high of $20,000) Sometimes I want to neglect my Due Diligence skipping from checking the market charts everyday, thinking there wont be much change, but because of the nature of Bitcoins volatility the market prices can change drastically in a short amount of time.  Cryptocurrency is still going through the motions with regulatory hurdles, adoption is happening but takes time. |
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Is Proof of Work is going to lose popularity compared to Proof of Stake? Ethereum is going to PoS.  Is there going to be a lot of hash (computational) power idle because of shifting to PoS?  Where that power be used then? Will it address such decentralized computing projects as Golem, Storj, Sia, etc? I think that Proof of Work needs a serious revamping including a more energy efficient and greener outlook or it will be lost to better consensus algorithms like Proof of Stake and Delegated Proof of Stake. Today Proof of work mining leads to centralization due to the cost it takes to run a rig decent enough to make a profit. I think Satoshi knew Proof of work wasn't sustainable enough to secure his vision so he made the project open source in hopes of someone adding to the code or using his genius to create another. |
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I was going to use the word "Innovative", but I think the word "Disruptive" would be a better fit for Blockchain technology. Blockchain takes a simple problem that plagues traditional methods of accounting and record keeping for ledgers and completely flips it on its head. Instead of keeping ordinary logs were one could cook the books, the transactions are logged on not only on a publicly available ledger but are transparent, tamper proof and decentralized..
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So i heard that the number of Bitcoin transaction increased double recently.
which means i can expect price increasing near future right?
Btw, i recently got airdrop token, which is exchange token, BPX?
Do you guys think that this kind of token may have a good value or nothing?
More transactions don't necessarily equate higher market prices but it does make since, more transactions should usually mean that more users are using the Bitcoin network. The initial market price price has broken passed and crossed it's $7500 threshold it's been stuck on for the past few weeks, so that is always a positive sign of a healthy incline. This doesn't mean to start expecting some massive bull run to happen, but we'll see, who knows exactly for sure what will happen when it comes to cryptocurrency? |
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today I read the news that Iran has warned about "more serious revenge" against the United States. such statements are not some kind of joke and what exactly they can do?  I believe that 2020 began very poorly if you look at it from a political point of view. If the disagreements between the US and Iran will continue, this could end badly. How will this news affect the market? can they start to sharply raise bitcoin at the price? if bitcoin will grow fast, then altcoins will be even worse I know that there are numerous economic variables that effect the market prices, but I don't think the skirmish with Iran will negatively effect Bitcoin and other cryptocurrencies that much. I'm no technical analyst but I'm sure there are other more important variables that could directly affect market prices like whales shifting money around or direct governmental regulation suppressing cryptocurrency in some way. |
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I really don't think Bitcoin can solve these problems alone. If for some reason one-day cryptocurrency was no longer able to be traded against fiat currency then I'm pretty sure that the cryptocurrency markets would crash as people would scramble to try and get their money out of it. Look what happened when the 20017 bubble brust, alll of those would be investors who where taking loans out against their houses and emptying their life savings into Bitcoin got left holding the bag when the price deflated.
I think cyrptocurrencies like Bitcoin need it's own stable-coin to work within government and society. I think this is why China is taking the initiative to create it's own version of a stablecoin.
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I don't know for sure if they're a definite solution, but the utility of stable coins is pretty consistent, especially when trading. Starting off as a beginner within cryptocurrency and market trading is incredibly hard for a person to jump into with no prior knowledge regarding trading and business finance. Stable coins made learning to trade a little simpler, because practicing trading with a stable-coin paired with a regular crypto-coin makes
the dynamic process easier to understand for a newbie.
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Satoshi's invention of a revolutionary form of money that would give people control over their funds back in 2009 (Bitcoin), turned out to be a success. While the cryptocurrency's PoW consensus is partially centralized (mostly dominated by the Chinese), it has a wide distribution of nodes all across the globe. Theoretically speaking, Bitcoin is decentralized where anyone can set up a node to support the Blockchain. With enough capital, it's possible to secure Bitcoin in our homes with sophisticated ASIC machines too. So far, many people believe that Bitcoin is truly decentralized as "no one" controls it. But the harsh reality is that every single cryptocurrency and Blockchain network depends on the Internet to survive. It's no secret that in today's world, big companies like Google, Facebook, and even Amazon control the Internet. On the other hand, ISPs (Internet Service Providers) have a final say over what people can view or host using the Internet. This means that Internet is centralized, greatly defeating the purpose of Bitcoin and other cryptocurrencies of eliminating the middleman. For Bitcoin to be truly decentralized, the Internet needs to be decentralized first. Once that's done, you could expect to achieve financial freedom that's out of the scope of oppressive governments, central banks, and large corporations alike. Until then, Bitcoin and all other cryptocurrencies will be subject to the risks of the Internet's centralization for years to come. What are your thoughts? " With enough capital, it's possible to secure Bitcoin in our homes with sophisticated ASIC machines too" If this is the case then what makes it truly revolutionary? It almost Seem like another pay wall to block people and exercise centralized control no (not intentionally)? I don't think that the internet will ever be completely decentralized, nor will the proof of work consensus algorithm be needed within the future. Proof of work is starting to look more and more like just a working proof of concept for the blockchain, demonstrating the capabilities of the Bitcoin network. it was good at the time and created a whole world wide movement, but I don't think Satoshi meant for it to last forever, why else would the code be open source, if not to be upgraded and re-written? instead there should be a middle-ground where decentralization and centralization meet, as not to cancel each other out, but work in harmony. Freedom without order is Anarchy, while order without freedom is Tyranny. |
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Wow China seems to have the right idea, better to create it's own cryptocurrency than to have it's citizens steer off course and join Facebook's Libra project, that's if Libra ever gets off of the ground and is able to jump through all of those legal hurdles congress is throwing at it. I think it is smart to have a digital stable coin then a cryptocurrrency like Bitcoin whereas the volatility can be nightmarish with those violent swings it has sometimes.
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It's now 10 years since Bitcoin was created, yet many people are wondering who Satoshi Nakamoto might be. It's still today, where the creator of Bitcoin has hidden his/her identity well from the general public. All attempts in finding who created the world's most popular cryptocurrency have failed so far. But we all know that there's no such thing as 100% anonymity. A slight error in covering tracks, could expose your identity within the mainstream world. Now, imagine if the real Satoshi's identity is found. If he/she is still alive, governments would be on his/her tail to put him/her in jail or even pay a hefty sum of taxes. Once this happens, Bitcoin might fail within the mainstream world. Of course, the community is what makes Bitcoin great. But I'm sure that the reveal of Satoshi's identity will have an influence (either positive or negative) over the cryptocurrency's price and reputation worldwide. What are the odds of Bitcoin's survival once Satoshi is found? Will it continue to operate as is? Or will it fail in the long run? I think if Satoshi Nakamoto was ever to be found it would severely hurt the mysteriousness of his image. People will be heavily judgmental and even persecute Satoshi, its just what happens to most saviors, check the history. People could even loose faith in the technology and it's current effectiveness that works well when theirs a mystery surrounding it. The mysterium of it all is what makes it so great, it's like who is this guy? |
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Not to be a conspiracy theorists but I think it couldn't have come at a better time. I really don't think Satoshi Nakamoto is one guy (not to discredit him in any way) but a group of like minded people who created this technology to insinuate change. The part that gets me is the fact the whole project is open source and nobody has touched the Bitcoin wallet, the funds are still there. Spooky if you ask me, because great acts of selflessness and generosity are a rarity in today's world. |
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I don't know if he is attempting to sway the price intentionally but if someone of his likeness, image and stature were to speak, the masses would certainly hear it. So his influence could be considered a viable variable lightly impacting the markets volatility, just by speaking a few words in light of the cryptocurrency. If anything it just means Musk is pretty much aware and an avid follower within the cyrptocurrency scene as I'm guessing many more of tech guys of similar fame and notoriety are.
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