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It is a good news that a Fintech will offer a debit card using crypto currency as deposit.
This only means that more and more businesses are getting aware of bitcoin's use and
existence. But I think it would be better if the debit card will not convert the crypto
currency to sterling after the deposit right away but convert it once they swipe the card
for a purchase by doing so it still keeps the sense of having a card with crypto currency on it.
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Why does bitcoin is such a big currency when converted in real money ?
There are many factors that affects the price of bitcoin but the most important one is the law of supply and demand. Unlike your local fiat system which has almost unlimited supply Bitcoin only has a maximum of 21 million pieces once everything is mined and this amount can't be increased but rather keeps on decreasing due to people forgetting their wallet passwords and people dying without passing their password to their kin. Bitcoin's price will keep on increasing as time goes by specially when more and more people becomes aware of it and sees that it has uses. But I think the reason why it's price is going high right now is because of people's greed. |
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This is so really hard to say special cause its difficult to explain specialty in short word
Some of them are given below:
It’s a type of currency which know as peer to peer currency and this permit to send and receive money without help of broker or third party involvement
Every bitcoin holder can review their account information after sending money or receiving money from their account.
After all kind of transection bitcoin recorded sufficient proof of every client and account holder through different facilities.
Buying and selling process is so much easier than other currency
I think above mention quotation is sufficient for proving that how much special the bitcoin is.
When you say other currency are you pertaining to a fiat or to another crypto currency ( alt coin) For fiat currency well the is the main reason why bitcoin and the block chain was develop to have an easier option for people to transfer funds from one point to another and the block chain was the solution for the confirmation of those transfers. For alt coins, what do you expect? if almost all of the alt coins are based from bitcoin which is the original crypto currency then it is really special than them. |
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Ok. So for the past two months, everyday, I have been reading cryptocurrency news from all around the world. (mostly from news.bitcoin and cointelegraph) and I has summed up my top three over-all supportive and progressive crypto-communities (not just the legal factor). [Feel free to disagree with me or correct my words]
not in any order
DISCLAIMER
*My reasons came from a compilation of news articles, but the list is purely opinionated.
1. Russia
The conflicting interest b/w Putin and the Central Bank has been slowing up the pace for progress; however, recent news suggest that the guidelines for bitcoin and digital currency will be made both beneficial to the government and the local users. I think Russia will be one of the centers of the blockchain technology in the future. Not to mention that Putin and Buterin have already discussed ways for the Ethereum platform to work well for the government.
2. Scandinavian countries
Not only Russia, but countries in Northern Europe have also integrated the blockchain technology in their university programs. Not only that, but some have now allowed Bitcoin to be a method of payment for tuition fees. Aside from this, countries such as Denmark, Norway, Sweden, and Switzerland are gearing towards a 'cashless' society, and digital currencies are helping them do so.
3. Japan
Of course Japan is in my list. What better way to say it, but Japan is the first to make Bitcoin a legal tender. What makes Japan enter the list is because they didn't end there. As soon as they've allowed Bitcoin to become a mode of payment, authorities then also placed their attention to the miners and ICOs. Leaving no factor behind. As of now, you can even pay utility bills with Bitcoin, and the government is supporting small households to mine digital currencies.
This is sad less that a month after this thread was started Russia seems like not that supportive to crypto currency anymore or Bitcoin perhaps. It seems that Russia wants to have their own crypto currency and remove their competition from it. I think most of the supportive countries " in terms of not being vocal about governing the coin" will be the country in Asia. South East Asia + Japan. Bitcoin is already widely used from this countries but you won't hear any negative news about it from these countries. |
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what do you think will be the future of this market? and what needs to change so governments will start to recognize it as a currency?
Future of this currency is either make or break. Bitcoin may be accepted worldwide as a currency that will eventually replace the current fiat system or it will eventually be banned by most of the nations and make it extinct. Having the coin accepted worldwide is a long way as a matter of fact several countries has already banned the use of crypto currency in their country and what do you expect them to do. Bitcoin is a decentralize currency that contradicts what government wants to implement in their own nations. |
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Thursday, Bitcoin Cash (BCH) price has dipped below the important psychological level of $1,000 - the value of one coin has fallen as low as $993. This follows a hectic weekend, during which the cryptocurrency has experienced a meteoric rise to its all-time high of $2,477, coupled with Bitcoin (BTC) temporarily dipping below $6,000. The ‘flippening,’ predicted by some of the BCH’s most enthusiastic supporters, is not happening any time soon. Bitcoin Cash retraces to its established levels around $1,000 while BTC is maintaining dominance. In fact, Bitcoin continues breaking all records, as it blew right past the $7,500 mark and is now at around $7700, owing in large part to the news about the CME Group announcing Bitcoin futures trading. The current price fluctuations are a reflection of the ongoing competition between the two coins for the place of a ‘true’ Bitcoin, with the supporters of both solutions being sharply divided over their differences. Taken from this source! As of press time, i think the war is over and we already have the official winner - no other than of course the King of Cryptos Bitcoin! Bitcoin! Bitcoin! -- and if those hard supporters of BCH are planning for a second round then they are very much welcome to do it again...and again and again...and then Bitcoin will be the winner again and again and again! However, rather than continuing this worthless war, why not co-exist with each other peacefully. This war is not going well for cryptocurrency in general and can even turn off many newbies in the industry. Let's stop this kind of nasty movement and think the well-being of the fledgling industry we are in! There was no war that ended it was a manipulation of the price for self gain by few individuals. It is really obvious that the pump on the price of BCH that resulted to deep on BTC's price was just manipulated by few individuals. Sadly there where people who went with their craze and lost a fortune from that roller coaster ride. Hopefully those innocent people would recover as soon as possible. |
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Does anyone on here think that there is ever going to be Bitcoin Bank, be it something which is centralized or something which isn't really doesn't matter. But I'd think of this as a company, or a union (like one of those credit union banks) where loans would be given out to people with trust, money is held, and so on and so forth.
I know many think that they can escape banks, but they are insanely helpful and trustworthy for many everyday people who we'd want to join into the BTC community.
First what is the purpose of having a bank for bitcoin? Bitcoin has a feature of being anonymous and once you have a banks to store it for the purpose of lending it to others or just keeping it on a bank that means that you need to provide your personal information to that bank and eventually your coin will be controlled by that bank, which will make it a centralized currency. Or are you pertaining to a imaginary bank here in the forum like the one in the lending section? |
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Criminals are really good in innovating their wrong doings. It was a great idea to ask for bitcoin instead of cash as a ransom money but they did not covered their track well still. Maybe they should have used a mixing service which are available for free for the authorities not to trace those coins on the blockchain.  |
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Already signed an agreement? With the current Regulations of BSP on Bitcoin?, Therefore the News that BSP will strengthen their regulation to Bitcoin will now be cancelled. This is a good news then, specially here in the Philippines. I believe that Taxation for Bitcoin will be the next regulation topic that will be discussed by BSP, Surely BSP will not allow taxing BTC because they can use it to create business relations to other country however, BIR will surely be against on it.
Why do you need to tax bitcoin if you can tax the exchanges? Technically you can't tax the bitcoin if it is still a crypto currency the only time that you can't apply taxes on it is when the owner converted it into fiat and the one that can be taxed from it are the exchanges because they are the one who is earning from it. People who converted it might say that it is from an OFW relatives who are exempted from taxes. |
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With this kind of scenario just to be safe just cut your losses and move on, it will be more risky
if you will go to the police and inform them on what happened to you specially if you are from
foreign land and as you said there is a limit for cash transactions from that country.
Just take it as a lesson so that in the future you are not going to commit the same mistake and
thank you for sharing it on this forum at least other members would be aware of that king of MO for scamming.
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That is indeed correct Japan's support on Bitcoin is really a big part of the increase on it's price in the past months.
Bitcoin's price is merely depending on the number of people who trusts it and Japan's support are enticing more and more people to trust Bitcoin and when more and more people are into bitcoin then price will really go higher. Aside from that Japan is promoting Bitcoin as a mode of payment to be used on their country which is making it's main purpose as a "currency".
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 I searched how to kill Bitcoin on the search box and saw nothing, so I'll just start a new one. Is it true that miners are the one responsible for every transactions? If yes; why didn't the government of China just ban cryptocurrency mining or am I just missing something out? If there are no transactions or maybe just less than 10 made transaction happened within 24 hours, how will the mining computer work then?, will it just go idle?What if people decided to hodle their coins, will it be unfair for the miners? I think they just did, but China removed from the existing bitcoin miners then it will be a gain for miners based on other countries. If China is really serious on banning Bitcoin why don't they order the closure of the ASIC manufacturer's plant on their country? Bitcoin will die if all of the miners stop from mining or if transactions takes longer before being confirmed that will result to people loosing their trust on the coin. |
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How do you think, will states be able to regulate the crypto currency?
If you are pertaining on regulating all of the crypto currency then that will be impossible since part of it's feature is that it is somehow anonymous so no one has the exact and complete ledger of the names of the people who own coins and tokens and the amount that they own. In order for the states to regulate it this is the first details that they need to have. So for the state to regulate crypto currency they need to start from square one which means abolishing all existing crypto currency and doing a state governed crypto currency from the start, which I think will not succeed. |
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We shouldn't be over whelmed with this kind of news. Reason why more people are searching about bitcoin on google is because it is a new trend, more people wants to know about it but it doesn't mean that they are going to invest on it right away. They might just want to know the meaning of bitcoin because they are hearing it everywhere. Why would someone search for gold in google if they already know what gold is? |
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We can't blame authorities if they are alarmed on what is happening on the price of the coin, it is really alarming that it's price dropped to $5,000 last week before recovering back to $7,000. Bitcoin's price can easily be manipulated by few people if they want to and that is why authorities wants to do something about it since it is the interest of their citizens that they are protecting. More and more people are being aware of bitcoin's existence and they are avoiding these people to loose their fortune afterwards.
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I don't see any problem on stating your own alt coin on your country specially as you said your country is not considering crypto currency as illegal and they are also not regulating it then you can develop your own coin anytime. By default if a country don't prohibits the use of crypto currency then it is legal. The only time that you will be subject for incarceration is when you violated your country's existing laws on the use of that crypto currency. |
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Could someone explain to me how ICO's are different from crowdfunding? Why would it be regulated differently?
Crowdfunding is the process of funding a project or idea by raising many small amounts of money from a large number of people usually by internet. ICO is an unregulated way by which funds are raised for a new crypto currency venture. An Initial Coin Offering is used by developers to bypass the rigorous and regulated capital-raising for their desired project usually it is made by selling their token or coin's idea to the customer for a certain amount. So itis safe to say that ICO is a type of crowdfunding. |
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It is true that there is an Bitcoin ATM now in different countries in Asia and that is so good for the Bitcoin community as it will help to strive the price to go up for some exposure to other people that is not yet involve in the crazy ride of Bitcoin.
I hope that Bitcoin ATM machine is not so big in fees when changing your Fiat money because here in our country they are implementing a 5% huge fee(for me it is huge) in each single transaction, I think the business man that put that machine are taking advantage to the trend of Bitcoin.
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I think the peak of bitcoin is around $8000-8100. It never went up beyond that, do you think it could? Right now its below $8000
Bitcoin price that goes down a little bit doesn't mean that it is going down. There is no straight way to the moon though, there is always a process in everything and this corrections that is happening with Bitcoin is normal and there is no something to worry about it. I think that Bitcoin will surpass the $8000 before the year ends if the momentum to the current trend to the market of it continues until the end of the year. Bitcoin increased huge amount of market capitalization already and with that I am so okay and there is no need for some negativity. |
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So,now we come to know the true reason for S2X supporters to suddenly cancel its activation.So,its not about the lack of support but technical error so that they could not make their ream true.Just they said that they don't want bitcoin community to get split blah blah blah.....So,finally truth has been revealed.
I just pity those guys who pushed for conferences and talks to make miners agree on one and the same fork. You know back when the community was divided between BU and segwit... It seems that all that effort was for nothing because the devs failed at their job. They will have to find a way to upgrade though. We can't go on like this forever with the rising number of transactions. Bitcoin network are really congested nowadays with those massive transaction each day and the higher fees of transaction are not what Bitcoin does so increasing the block size of the network is a must but how can this happen if Miners will not signal or support the new Hard Fork that is made by developers, they made this new changes for the better good of Bitcoin and I can't really blame that many people are too scared with any underlying causes that may occur, how I wish just for once we must trust the developers as they are doing this for the betterment of Bitcoin no more no less. |
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