Is no longer news that various countries of the world are not in support of Bitcoin either as a means of payments or for trading purpose. This are been a challenges most Bitcoin users are facing throughout the countries of the world inexception of few countries.
I have begin to see it that maybe they are thinking that adoptions of Bitcoin might bring a partial collapse of the banking system and also a means of curbing money laundering.
So, let hear your views on what can be done to make our government realised the important of Bitcoin and Blockchain Technology.
There is nothing to be done to make governments to legalize bitcoin, if you think about it bitcoin goes against the best interest of government and banks and those are the two most powerful entities in the entire world and they do not want to lose that power, so I expect they will only accept bitcoin after a long war against it in which despite all adversity bitcoin beats them down, so we cannot hope to get that power away from them without the presenting a fight. |
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YES, in troubled economy of an environment or country, how to survive becomes the struggle of the people and if bitcoin is available they are definite to survive, even in my country we have been battling with economy recession but we have always been able to survive the hurdles with this great opportunity.
Bitcoin will allow some people to survive in better condition than if it did not existed but unfortunately not everyone can get access to bitcoin or its benefits, this is happening in countries like Venezuela that are in a severe economic and political crisis and some are using bitcoin to survive those awful conditions, the problem is that governments see this and they do not like it, it seems they prefer to see their country fully destroyed by their actions than to see some people prosper using a different currency. |
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To me this seems like it is good news, I know that many people in the forum do not like the idea of getting any regulation from a government but it was inevitable if cryptocurrencies are going to become as big as we think they will become governments will have to do something and now we are seeing that, but as long as the regulations are friendly or at leas not that oppressive everything is fine, since that will increase awareness and investors will fell safer with some laws and regulations in place.
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Well you know it's super funny about how people are sharing their stories about being Satoshi nakamato and how they were hiding underneath and how they are ready to get the limelight. https://www.google.co.in/amp/s/www.cnbc.com/amp/2016/05/02/bitcoin-inventor-satoshi-nakamoto-finally-revealed.htmlNot just there there is also this one Indian claiming to be the founder And what's funnier is that there is this man that goes by the name of Satoshi nakamato and he denies that he is the creator of Bitcoins https://youtu.be/BoboO6QPGow What do you think will we be able to find the real Satoshi nakamato before we die ? 😂 Idk it's getting funnier and funnier. P.S. Some people claims that it's been invented by Artificial intelligence ... Good bye world ! 😂😂😂 The chances that we find who is satoshi nakamoto are very low if he wanted to reveal himself he could have done it and each year that it passes the probabilities get lower after all bitcoin is such a masterful creation that if it was created buy an individual I suppose that satoshi had an age between 35 to 45 which means that each passing year he is getting older and the chances that something happened to him grow higher, besides anyone can claim whatever they want but they will never be able to prove it. |
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From last few days, so many negative news regarding btc have been aired. Then lot of people speculate the price of bitcoin and just after that I have noticed some significant change in the price index of btc. Do you think that these speculation affect the price of btc a lot???
Speculation cuts both ways, it can be positive or it can be negative, in its positive side as soon as there is a positive news about bitcoin coming form the developers you can almost instantly see the price going up and then if we keep receiving positive news a bull market can form, the bad thing about speculation is that the media can influence people very easily and if several bad news appear then the price can go down dramatically and if it is big enough a bear market can form. |
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I think if Bitcoin some day hit $1m it won't stand long in that level as every holder would like to cash out his earnings (As any millionaire would do) and thus the price would decrease almost in time.As usual,media would start talking about it's huge pump (and potentially spread fud as we are used to),at that stage fiat currency would see a big decrease in value too.
But meh,I don't think countries will let Bitcoin go that far,if you know what I mean
It is very unlikely we are going to reach the price of one million anytime soon, if the price reached 40k or 50k people will begin to cash out, so bitcoin will not have a chance to even get close to that price, now that does not mean that the price will not be reached at some point in the distant future but people need to stop dreaming those prices will be reached soon and even if it did that will be a sing that something is terribly wrong with the economy and I will have more things to worry than the price of bitcoin. |
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I don't have a problem with KYC and his nothing to fear.
You should be afraid, the point of cryptocurrencies was to create a different system than fiat with different rules, I understand that if you wanted to convert your coins to fiat you will need to go through KYC but now even if you do a crypto to crypto exchange now businesses want your information which means that cryptocurrencies are no longer something different, also the information and documents that you are giving away can be used in the wrong way, that is something that happens a lot and you should try to avoid to give that information, after all if you do not give your information then it is a lot more difficult to get access to it. |
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There are 1624 currently active cryptocurrencies and more than 100 cryptocurrencies exchanges working right now in 2018.
With so many cryptocurrencies in the market Without regulations I feel there should be some body to legalize only a few , since its not like the more the merrier!
It just increases risks of any Fraud.
Small companies often are at a risk of shutting down with so tough competition.
The reason why the percentage of market Bitcoins dominates isn't exactly because they got less investors now , it's just because with so many currencies around the globe it's getting saturated and distributed .
Only some of them would be successful like 10-20 but with this tough competition it's risking people's investments and both these small small exchanges.
I strongly believe that a regulatory body should tackle this and then make a decision.
I think is negative in it's own way.
Share your opinions below , do you think it's positive ?
I do not like the idea of a regulatory body because now we are going to depend on a centralized party to tell us what it is good for us and what it is not and that kind of power always leads to corruption since those in charge of that could benefit themselves by investing in a coin before they declare it safe and make a fortune doing some insider trading, also what it is stopping them to say that bitcoin is unsafe since it is not backed by anything? So I prefer that the market remain this way and people are responsible for the consequences of their actions. |
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Psychology is important to the success of a trader so staying calm in times of market fluctuations and make wise decisions will help investors easily succeed in this market. Try to learn a lot of knowledge from experienced people and the internet, books ... that is the knowledge you need to do as a trader.
Your mentality is key not only in trading but in every aspect of your life, there have been many studies of this especially in sports and scientist have determined that your inner beliefs have a very strong impact especially in the moments of great pressure, so if you think that you can solve a situation no matter how difficult things may be you will be calm and collected and will evaluate your options with a cool head something that is critical if you are a trader. |
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I disagree because we are already using cryptos to buy goods and pay the services. It's already been proven and now it keeps becoming more useful in terms of its function and development. So, I believed that cryptos will be more useful in the coming more years.
People will just have to adapt that is all, if people around the world can use currencies that lose value very rapidly when they are in the middle of an economic crisis then they can use a currency that can go up or that it can go down, I will admit that it will be way easier if the price was stable but when not even 1% of the human population have adopted bitcoin we cannot really ask for bitcoin to be stable when there is so much potential to go up in value when those people realize that bitcoin is their best option to store the value that they have accumulated over the years. |
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Economy in our country is not so good, We suffered high purchases of goods, gasoline and electricity but the wages of average employee are not yet increased, Our monthly income are not enough to cater all our needs but I'm glad there's an online opportunity which are the alternative solution in the meantime. Bitcoin helps a lot:)
The same is true in my country, the economy is not doing very well and we are importing a great deal of stuff that we could produce ourselves but that previous governments decided to abandon those industries and now were suffering the consequences, now we need to pay huge prices for stuff that not long ago we produced and it was cheap enough, and when you add the fact that the salaries have not go up in real terms in thirty years, this is why social mobility has almost come to a halt, and the rich keep getting richer and the poor keep getting poorer. |
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It is not slave of fiat. Sooner bitcoin can replace fiat if people wanted to.
Things are not so simple, in theory a better product should replace an outdated product every time but that doesn't always happen, you need to understand that there is government intervention and they are not going to let bitcoin to replace fiat, they obtain a lot of power and money out of the right they have to print their own currency and they are not going to give up that right without a fight, it is possible that in the future bitcoin is subject to very heavy regulation or even banned, that is not going to destroy bitcoin but that is going to severally limit its adoption. |
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I agree a lot in "dont put all eggs in one basket". As we do not know what will happened tomorrow. So better not to put all the investment in a single exchange site. Instead, I am trading my BTC, and ETH in Poloniex, Bittrex, Kucoin, Liqui, Binance, Forkdelta, IDex, DDex and Bancor. Yes literally, I split them all in these exchange sites. I dont want to blame my self, if I traded all of my coins in a single exchange site, then all of the sudden, hacker came and loot all the crypto money.
That is a great idea, people talk all the time about diversifying their investments and while that is the correct strategy people seldom talk about diversifying the exchanges that they are using, out of simplicity and practicality most people use the very same exchange for every single trade that they make and this is a huge mistake because you are letting a single entity to know everything that you do with your investments and even worse as you say if an exchange was targeted by hacker you could lose all your money instead if one of the exchanges that you are using is hacked at worst you are going to lose a small part of your capital. |
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Everyone who comes to cryptocurrency does have their own way. I cannot blame people who use panic selling or sell all their assets when the price goes down, because that's the way they choose. As you choose for long term investments because it has the opinion that the world of technology, especially cryptocurrency will flourish in the future. This does not mean they do not understand and know the development of the world of technology in the future. Anyone who sells his assets will have a strategy that you do not know yet, they may buy back when the lower price, it will be profitable for the short term.
If a person chooses to sell then I have nothing against it because that is part of their strategy, but I think that when people refer to panic selling they are talking about those people that are selling their coins without any kind of plan and that are acting based only on emotion, those that are doing that are without a doubt making a huge mistake because even if at the end they are able to buy back bitcoin this will not be because they did the right choice it will be just because they were lucky, and you should never rely on your luck when you are trading. |
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Perhaps one day with the current bitcoin advances, bitcoin digital currencies will be an international currency for all countries, and make it easier for every human to make transactions between countries when going to another country.
if it happens in the future it will certainly affect the paper money that exists around the world, whereas we know when the banknotes have a lot of history and symbolize the diversity of a country with other countries.
if that happens, surely the government will not remain silent on the matter, there will be an agreement between state governments to immediately close the bitcoin network to the world.
what will you do if you have a lot of bitcoin.
The problem when that happens will be the same problem that they have right now, how are they going to do it? It is very easy to talk about dismantling the bitcoin network, but the difficult part is to actually do it, with so many nodes around the world they will have to destroy every single one of them in a single stroke and if they don't then they will leave open the possibility of more nodes emerging, and if bitcoin becomes as strong as you are implying people are going to oppose such measures, not only people like us but really powerful people that have invested in cryptocurrencies. |
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of course it is possible bitcoin can effect economic in numerous ways but that is not actually important. The important point here is for how long will the effect stay.Like we know that when Bitcoin price drops it matters of how long will it take for market to recover its price. So it does not matters if it changes something we are modern humans we can easily adapt to simple changes and can also make the effect much more powerful if we spread the awareness of it. I Belive there are many people still now who do not have complete understanding about crypto world.
We do not know for how long bitcoin is going to affect the economy, right now it's effects are very low since its size compared to the rest of the economy is not very big, however there are two possible outcomes, either bitcoin gains more popularity and becomes a major player that can affect the economy in a significant way or it begins to lose relevance over the time, since I'm here in the forum it seems obvious that I think that the first scenario is a lot more likely and if that is the case the value of our coins will increase dramatically and we will be able to take advantage of that. |
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it depends so much. especially there were so many new players at the last quarter of 2017 that is why the prices increased very fast. it was a very strong bull run. i hope more investors and more companies start to join this ecosystem so we can see a new bullish trend within this year.
It is very difficult to think that we are going to see another bull run within this year, many people saw what happened last year and were very optimistic about the progress that bitcoin was making, and it did but it was impossible to obtain that price and now people are a lot more fearful to invest in bitcoin, in fact there are many people that fear that the price of bitcoin will go back to its original price, we know that is not going to happen but those are their fears and until those fears are dissipated we cannot expect an increase in the price. |
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What is going on to the market? The prices had gone down sharply, especially Etherium at -12.47% and Bitcoin at -8.14% and there seems no stop to that decrease, as for now. Any idea what could have happened? Some news affected the rate, or maybe it's just the overall market mood.
P.S. Maybe it has nothing to do with that, but Facebook shares grew quite a lot in the recent 48 hours.
I'm not really trying to be harsh on you or anything like that, but if you get scared about such movements in the market which by the way are completely normal for a currency like bitcoin then I do not know if the market of cryptocurrencies is the market where you should be, maybe you should feel more comfortable investing in the stocks market, after all it seems that you're watching it taking into account your comment that Facebook stocks grew in value, maybe you will feel more comfortable if you invested in such a market instead of this one. |
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Noo of course not , I've many times told you guys that during the process , you'll sell your Bitcoin not even when it's reach $200k , 10x from current price and I believe there would only few people who stick holding Bitcoin , which means there might only 5 -20 new millionaire , the rest of it regretting to sell Bitcoin too early , it's like a loop.
The truth is that it is very easy to be an armchair general and say that you are going to hold your bitcoins no matter what, but the truth is it is going to be very difficult to hold your coins, each time the price goes up the temptation to sell will be enormous, while many complain about how the early adopters got a huge advantage and got a huge amount of coins the truth is very few of them are still holding all the coins that they held at the beginning they have probably sold the majority or even all their coins already, and anyone still holding his coins is probably doing for reasons other than money. |
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I really do not know why newbies do not listen to our advice, one of the most common advices is that you should never store your coins in an exchange there are many things that can happen, the exchange may disappear, the exchange may get hacked, maybe a worker in the exchange steals the funds or a government may intervene and seize the exchange, I know it is a lot more convenient to keep your coins there but then people that do that should not cry about losing their coins, if they care so much about their coins they should have taken measures to protect them. |
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