|
I can think of 3 things which will help bitcoin to grow -
1. User friendly wallet that calculates transaction fees and gives you options to choose the fees.
2. Scale to accommodate larger volume of transaction. With global adoption, the volume of transaction is expected to increase. Bitcoin network really needs to scale up.
3. Completely ban BRC20 tokens and fix the gap so that these nonsenses do not show up again.
I think these upgrades/changes can really help bitcoin to grow further and find new user base.
|
|
|
|
Have you ever thought about this, what we are trying to achieve in our personal financial life is completely diverge from what the government expects their citizens to do. We as Individuals always thrive to achieve financial independence in our lives especially someone who is from the average middle person but what the government expects from the middle class is different and is kind of surprising when we give deep thought about it, The Government highly relies on the middle-class tax payers for the money and most of the taxes collected in the form of indirect taxes so that people may not actually aware that they are paying taxes for everything from their salary, fuel, medicine, anything everything has taxes that eat most our earnings. So as a result we are paying from 10% to over 50% of our earnings just in the form of taxes in one or another way. So one who really wants to achieve financial independence should find a way to reduce their tax pay legally like how the businessmen do. Or like the bald guy says, we need to find a way to exit the Matrix.  I am sure every middle class person is fully aware of it. They may not aware of the scale though! Some economists have done a calculation on it in my country. So if we fall under the 30% tax bracket and has a certain type of lifestyle, the calculation shows that we work for 4 months in a years for the government and 8 months for ourselves. I have tried to find the video but unable to do so. I will edit my comment if I am able to find the video. A great explanation they have given. But yes, we are paying taxes on every single thing that we do. That's why we call it a "middle class trap". Governments also know that fact and that's why personal finance is never taught in a school. because the more we know about it, the better we navigate the uncertainties. Governments do not want us to do that! |
|
|
|
|
Well, not surprising at all! The way US government have started cracking down on crypto related services, it was just a matter of time before rest of the governments follow the same path. So EU has joined the bandwagon to start their surveillance on the internet because they consider mixing services illegal. The way various governments are moving, I don't think crypto users will be able to stay anonymous anymore. That itself will defeat the whole purpose of cryptocurrency.
In coming years. cryptocurrency will remain as an investment and that majority of the supply will be controlled by the corporates and government bodies. Those days are not far, sadly!
|
|
|
|
Hello! Not sure if many of you here have heard or are aware of the Pi Network. It's a project that aims to create a decentralized cryptocurrency network that can be mined using smartphones though it hasn't launched its mainnet yet.
What are your thoughts on this approach? Do you see potential benefits or drawbacks to delaying the mainnet launch, and how might this impact the network's future adoption and development? Do you think it's even legitimate or would you be just wasting time and space getting this on your mobile device?
It's a scam and nothing else! You can mine Pi for years and then you will have to do a full KYC before you can withdraw them. Also Pi is not listed anywhere so you can't even sell the coin to earn money. Pi is more of a KYC scam yet to be uncovered and operating as an affiliate marketing network. Think rationally, if people can mine this coin from their mobile phone without spending any money on electricity or mining rigs, why would someone buy that coin from the market. Wouldn't they just use their mobile to mine it? |
|
|
|
Which of these economic situations would you prefer to find yourself in?
A- Your salary is stagnant but prices fall. Where this happens, your real purchasing power has increased. It's called constructive deflation. And even if your salary falls, but prices fall faster, you are still ahead.
B- Having your savings taxed 2%+ a year by inflation.
Drop your thoughts
Isn't it obvious? Anyone would choose the first option where the salary will remain constant but the purchasing power will increase. That's a very obvious choice! I don't see any reason for anyone to choose the second option when compared to the first one. But deflation is good in short term. It cannot go on for eternity. Then it will have a very different consequence. |
|
|
|
Give me your best answers, videos, urls, stories, anything
for me it is the history, people connected to it, the community and everything surrounding it.
Bitcoin is an investment for me. I do not considered Bitcoin as a currency system because it is slow and expensive compared to the options we have. So it is a pure form of investment which I believe has the power to outperform all other investment assets. I have been investing in Bitcoins in a long time now and I will continue for few more years before stopping. Then I have a plan to keep all my Bitcoins in a cold storage for my retirement. If everything goes well I might retire early. |
|
|
|
This is what Bitcoin BTC creator Satoshi Nakamoto said It is an electronic cash. I think it is an electronic cash. So the question is why the price of Bitcoin increases? Why do we want to save?Answer: In fact Bitcoin price does not rise, in fact the value of government money is gradually decreasing from -3x to -6x to -16.......and more wil decreasing in future. BTC 1 Bitcoin was worth 1$ in 2010 Now Today' (2-May-2024). 1 Bitcoin is worth 57000 dollars, 1 Bitcoin is 57000$ means 57000$ worth of money has gradually reduced to 1$ and bitcoin has a power to show it clearly.  And that is the invisible depreciation of inflation and we are become safe when we hold Bitcoin. Well Bitcoin is more of an investment now! And I strongly believe that it's global user base and strong demand helped Bitcoin's price to increase. Bitcoin is not Limited to a cash transaction system anymore. What satoshi had said, is a different angle towards it. The global currency system did not see inflation of 57000%. So it makes no sense to discuss further about it. Bitcoin was initially launched as a currency but it became an investment because this is what people wanted it to become. |
|
|
|
I don't find any difference between stock trading and crypto trading. So when we are allowed to continue stock trading using savings bank account, the same should apply for crypto trading as well. I don't see any issues in that.
But the entire crypto scenario is very confusing in India. So I won't be surprised if the bank deactivates anyone's account for cryptocurrency trading. But ideally they should not do that.
It's better to avoid disclosing that we are receiving funds from the crypto trading platforms to the banking employees, cause employees may not aware of everything and they could just do what they thing is right and making them to realize its their mistake is actually big task, so unless we stuck in the situation we need to tell them, just keeping the mouth shut is good for us. Absolutely! Not a single employee within banking system are to be trusted! Also, try to avoid big value transactions at all times, unless it's an emergency! keeping the amount low actually helps to avoid the internal banking surveillance system. Also the amount has to be at per your monthly income. I mean, if you earn a salary income of 50,000 a month, keep your crypto transactions within 10-25k. If you suddenly receive a credit of 3 lakh rupees, that would raise suspicion. So keeping a low profile actually helps to avoid issues within banking channel! |
|
|
|
I don't care if the ETH price goes up to 3.5k or 35k, but I am more concerned about the dark strategy of BlackRock! The amount of money they hold under their management, it's extremely easy for them to control a major portion of the ETH in circulation and control its market. I never liked when corporates got into crypto space and still I am not a fan of such things. Bitcoin and ETH are two biggest cryptos that could have become a blessing to the privacy focused population. But with all these corporate interventions, it's more of an investment where you need to pay taxes to the government. I personally do not want any corporate to open any more crypto ETF. |
|
|
|
|
Asymmetric distribution is a key factor in determining the value of assets like Bitcoin and Gold. While equal distribution may decrease their value, scarcity and demand dynamics play a crucial role in determining the value, with its asymmetric distribution contributing to its price dynamics.
In your hypothetical scenario with gold, if everyone suddenly received an equal amount of Gold, the supply would vastly exceed the demand, leading to a decrease in value. This is essentially an illustration of the law of supply and demand: when supply overtakes demand, prices fall. The same theory works for any other assets with limited supply. Bitcoin is not an exception!
|
|
|
|
|
It's more unfortunate rather than a joke! It's unfortunate to see US government is constantly attacking crypto related businesses and people involved in it. It's unfortunate to see the negative stance of US government regarding the cryptos in general.
4 months is nothing! But I wonder why a businessman has to go to prison even after agreed to do a settlement of $4 billion! Crypto businesses need to think 10 times before they want to start a new venture from American soil. There are many crypto friendly countries on earth. They just need to move out, completely.
Binance by far, the biggest crypto exchange in the world so they are able to soak that hit. Think about a smaller exchange, they would have to go out of the business!
|
|
|
|
|
I don't find any difference between stock trading and crypto trading. So when we are allowed to continue stock trading using savings bank account, the same should apply for crypto trading as well. I don't see any issues in that.
But the entire crypto scenario is very confusing in India. So I won't be surprised if the bank deactivates anyone's account for cryptocurrency trading. But ideally they should not do that.
|
|
|
|
I asked chatgpt, and it answered that Bitcoin transactions are generally subject to tax, just like other forms of asset transactions. Tax requirements may vary depending on the laws and regulations of the country where you are located, but in general, the following situations may require taxation:
Earning profits: If you earn profits through the sale or investment of Bitcoin, these profits may be considered capital gains and are subject to tax. Salaries and wages: If you pay or receive wages in Bitcoin, this may be considered ordinary income and is subject to tax. Mining income: If you receive income from Bitcoin mining, these income may be subject to tax. Currency exchange: If you use Bitcoin to purchase goods or services, you may need to pay the corresponding consumption tax according to the laws of the country.
It really depends on your country or your nationality. If I speak from the perspective of my country, I am liable to pay taxes on my Bitcoin income. I have been doing it since 2016. Check your local law around cryptocurrency. Possibly speak to a lawyer who knows about it to get the best guidance. But in majority of the countries, Bitcoin income is considered as income and it is taxed ccordingly. |
|
|
|
My question is who do these high fees benefit?
The miners! Honestly, the high fees of Bitcoin is not really good for anyone except the miners. It doesn't give Bitcoin any competitive advantage, rather it snatches away. But it's not the fault of the miners. All these increases are coming from the BRC-20 token madness. Unless these tokens are fully banned from the network, the fees will remain relatively high. |
|
|
|
Cristiano Ronaldo, a world-renowned footballer facing a class action lawsuit is uncalled for.
Bringing financial damages to his followers by aiding and abetting Binance’s fraudulent practices.
Binance doesn't really care about anyone's status or image but it portfolio and how to make his exchange boom, they knew Ronaldo who has more than 850 million followers across several social media platforms will go along way to make it business boom that's why they signed a multi-year contract just to promote unregistered crypto securities.
And these unregistered crypto securities promoted by Ronaldo caused a 2,5500% increase in celebrity NFT searches by his followers and the rest of the world.
whereby making Binance grew by nearly 5000%.
Why did Ronaldo sign it? What happened to his brand team? Haven't they researched properly before signing the deal? What happened to his legal team? Didn't they know that Ronaldo is promoting unregistered things? Binance is a business organization. When businesses sign any celebrity to promote, they have two simple goals in their mind - growth and reputation! Binance paid money, Ronaldo got money and did what he was asked to do! What's the problem? |
|
|
|
To be honest, there are many things i will probably never understand about NFTs cos I couldnt understand the inspiration behind its ugliness. I think it was odd how the first generation NFTs, especially this ape club, were ugly as hell. Sure, the whole nft idea was bewildering really, but why was it all so ugly as well?
is there a hidden utility in ugliness or am i missing something?
NFTs are useless! So it really doesn't matter whether they look good or ugly. They are just the most useless thing ever happened in the world of cryptocurrency. I have noticed that the first generation NFTs were mostly pixel based images which got sold for million dollars to some unfortunate investors. The entire NFT madness is pointless. So it is okay to not find any point at all! |
|
|
|
There are certain occurrences that can reduce or bring down the economy of a particular Nation there by also making there currency lose value in the world market for example war.
And there are also certain occurrences that can increase or rise the economy of a particular Nation there by also making there currency gain more value in the world market for example emergence of good and intelligent government.
Therefore I believe there are certain occurrences that will increase the price of Bitcoin to a very magnificent price.
for me adoption of Bitcoin as world digital currency.
I will also love to hear from everyone in this forum what you think can occur in the future that will increase the price of Bitcoin to it magnificent price.
You probably do not understand the scale of global economy, that's why you are doing about Bitcoin becoming world digital currency. The network will explode if Bitcoin is accepted globally by the governments. You will pay huge transaction fees and your transactions will be stuck in the network for hours. Please understand, Bitcoin is not here to become the global currency. Adoption is good but the Bitcoin network also needs to scale up in order to accommodate the increasing number of transactions. Otherwise nothing great will happen with Bitcoin. |
|
|
|
Project guidelines
I want to create coins as my own chain or as tokens, and each coin has its own unique number. There is no change no matter how many times you transfer it to other people, just like money or banknotes, each of which has a unique number.
Is there anyone who can do it?
Go to Fiverr or other freelancing platforms and you will find hundreds of people offering you to make a cryptocurrency. They will understand your Idea and build the currency for you. Then you can find marketing agencies who can promote your coins. So when you have money, you can hire people to create a cryptocurrency for yourself. The market is really competitive and I would not suggest you to invest in making cryptocurrencies. The market is flooded with thousands of dead cryptos. Why do you need to add another one to that list? |
|
|
|
|
I am not a miner too. I don't think we have any home based miner in the ecosystem anymore. Bitcoin mining is an expensive game and individual really need to invest thousands and thousands of dollars to get a profitable mining facility setup. So for miners, I don't see a big impact unless Bitcoin price starts dropping.
But honestly, the removal of runes and ordinals will be positive for the Bitcoin. A lot of people have stopped transacting through Bitcoin because of exorbitant transaction fees. If Bitcoin wants to survive as a cryptocurrency and remain competitive, the transaction fees must come down. Wiping out of these nonsense tokens will be a great help.
|
|
|
|
What went wrong? Operating a crypto mixing service knowing the negative stance of the US government against such services - this is precisely what went wrong! It's not a surprise that US government is extremely negative about the crypto mixing services. They had taken action earlier as well if you remember the case of Chipmixer. So it's no surprise that they kept such services under constant surveillance. If running a crypto mixer considered a crime, it's a bigger crime to try to run it from the US soil. |
|
|
|
|
Show Posts
