How do you even start it? If creators move first, they will have to endure huge loses until their audience comes, many of whom might never follows, and also creators' subscriber growth will be greatly reduced, because a decentralized platform will have a fraction of Youtube's users, and there won't be any sort of advanced algorithm that matches viewers with new creators.
And if the users move first, then again why would creators move to a minority platform if they can stay on Youtube and keep making more money.
Right now Youtube is an undisputed monopolist of mainstream video hosting, even centralized competitors are miles behind it, so what chance do the decentralized ones really have? I think they will keep being a small niche tool for people who need their exact properties like censorship resistance.
The same way people migrate their stores off Ebay or Amazon into something under their own control. Build a following and then point them to the new location. You're guaranteed to lose 80-99% of people who can't be bothered but you might hang on to enough. It beats being rubbed out by an algorithm. How much money do crypto youtubers make through it? It's something I've never bothered to investigate. |
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The things that the disease have thrown up - economic chaos, government control, misinformation, vaccines, paranoia about the origin blah blah - fit perfectly into the mind set of many a Bitcoin fan.
I'm not surprised it's given many people a boner and they've rubbed it until some goo dribbled out of the end in public.
It doesn't make them untrustworthy elsewhere. It fits the remit I expected of many of them and would've been very surprised had they not acted that way. Doesn't not make them assholes though.
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Where do the gift cards you can buy work? Are they Amazon.com cards for instance? I would've thought that would have to be the least painful option. I'd look on here first and deal with someone with track record. Paxful is US based so if they find out where you are you're going to have problems.
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If things were as simple as described by Raoul Pal, then I would also be able to accept that huge capital will move to BTC in the next 3-5 years, but expect $10 trillion into a market that is still pretty unregulated, extremely volatile and let's be honest still with very bad reputation (Bitcoin as currency for money laundering, drug sales, terrorist financing+environmental devastation via mining).
His main point is that the current meltdown may mark a sea change in how Bitcoin is perceived. If things had carried on as before it's expected that people would've continued to treat it as a speculative toy. He's highlighting that it's a complete alternative system with none of the weaknesses, lies and holes that the current one has, though obviously it has its own issues too. We know this. Not many others can be arsed right now to make that leap. If enough people switch their perception from occasional dollar generator to that then those telephone numbers stop seeming so outlandish. It will never gain major traction without that attitude change and for better or worse the present might be the trigger for it. |
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How about Huobi? Because I remember in a few years ago before the first halving, Huobi was a place for Chinese traders to buy and sell bitcoin. Although they don't have any exchanges, at least, the traders from China can trade in any exchanges.
Same as Okex. Chinese origin and probably owners. They moved out of China to keep going and would have a bad time if they ever attempted to move back into it. Huobi in particular seems to be where hacked and stolen funds end up so I've no doubt there are tons of Chinese folks in disguise there as well. |
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Isn't binance a chinese exchange? There must be some exchanges in Hong Kong as well. Ofc there are chinese clients all over the world as well, like the miners for example.
The owner's Chinese. If he started serving Chinese customers he would be disappeared. There are no mainland Chinese exchanges any more. They're not allowed to operate and banks aren't allowed to deal with them. I'm sure there's plenty of OTC activity but that doesn't directly influence the price like exchanges do. |
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To answer the question: can BTC really be a safe haven? we'll have to find out what is the main problem that keeps it far away from being one?
It's down to size and saturation. Both are a fraction of their possible eventual dimensions. If it doesn't continue to grow and distribute wider it'll forever be the plaything of a few creeps on bucketshops. The leverage thing won't go away. That's what attracts people to it. What'll temper it is more of them ballsing up and wiping themselves out and real world usage prising it out of their hands. To get to safe haven status will take many years with many bumps along the way. |
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The most important thing to think about is probably the thing you won't discover until you're balls deep - what is your appetite and attitude towards risk?
You might find you're a man of iron who laughs off any dips. You might find you're a squealing bitch who panic sells at the precise moment of the bottom and then buys back when it's doubled or more.
Until you know that I wouldn't be putting anything more than play money in.
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There's a hate to them but we can't deny that they can really pump the market especially bitcoin.
Um, how? They don't have any exchanges. I'm sure there are a few disguised Chinese whales on Huobi and others but the real influence China had back in the day was their piece of shit zero fee exchanges. The rest of the world followed them slavishly despite the entirely of their market being 3-4 teenagers with bots most likely. I doubt we would've had the 2017 peak if they hadn't been put down. |
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I was thinking they would actually think about spending their money on grocery and bills and stuff like that just so they could potentially survive a bit long however looking at the situation right now, people are buying stuff like TV's or other electronic stuff, and maybe even phones and so forth, which tells me maybe people weren't doing as bad as I imagined and obviously not as bad as government imagined.
That's why so many people are broke their whole lives. They keep buying tat they don't need and wonder why they never get ahead. Many will have thought 'hey, free money. Let's splurge.' I've known many people who were incapable of looking beyond their next shot of instant gratification and they would've done the exact same thing given the opportunity. Unfortunately this time around buying crap might come back and bite them hard in a few weeks when it becomes clear the world is not going straight back to normal and whatever jobs they had to keep their heads just above water is no longer there. I'd only put the stimulus into BTC if I was fully secure via other channels and knew I'd be fine for months or years no matter what. |
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A transaction is not completed until it got at least 1 confirmation. I really believed everyone knows that already.. but apparently not..
If it's a decent amount I'd wait for six just for it to be totally ironclad. It seems to be a very rare piss take. I haven't heard of it happening very often. I'll bet if more people were aware of it it would happen a great deal more often. There was a case of a crypto trader who got raided by scumbags in the UK. They made him send his BTC out and cleared off. As soon as they were gone he double spent the transaction and they got nothing. |
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It's part of a 120 page report he made available for everyone. It's worth a read and applying the context.  It's not about it being just another asset any more, it's about it being a whole separate system that's immune to the pox that's ever weakening the existing one. If enough people take that point of view then it becomes a more feasible prediction. The current shitshow is a major push towards that realisation. |
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although China prohibits the purchase of Bitcoin by the yuan
Only through third party services. They're all forbidden. As far as I know there's nothing stopping people from doing it P2P. However they may well be able to stop that too when their digital currency gets going. They'll have total control over all spending at that point. The less China the better in my opinion. |
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I would be happy to see it staying at the store of value step.
Staying? I think it's still many years away before it gets anywhere near that. The price might be dead for long stretches but that means the appetite for speculation has died, not that it's become a store of value. If you suggested to the average person that it would be great idea to park that money they put aside for their life saving operation in BTC while it all gets lined up they'd rightly smack you in the mouth. |
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You are right ! Thanks for pointing it out  I also have a noob-ish question: seems there are many other transactions into that address. Small amounts, true, but what's up with that ? Sometimes it's for publicity purposes. A lot of people will look at that address. Other times it's just to join in. Sometimes it's begging. Look at some of the addresses that sent - 1BTCWantEdj8gSTzCoGbpTs7Vy214JFFrj, 1DonateMeHPyiwoow9qUDJ2xyJxLbZQuRz, 1Gir1SzVaJzyhtS2iUuo8kwykcBwwxDK39, 1PutinHyi9dSwcixVdAfXsyjr94uhYaUqf A lot of people sent coins to the very first Bitcoin block to thank Satoshi for creating it. |
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You should definitely avoid them if you have clean Bitcoins. There are two reasons for that. First is they are very expensive. You will get much less out than you put in. Second is you might end up with Bitcoins someone pay to hire a murder with.
It wouldn't be a very good mixer if you could tell the origin of the coins you ended up with. Most coins that go through mixers are clean, but they have a lengthy trail that would identify everything you've ever done in the past. That's the main point of using one. |
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The early birds will reap the greatest rewards. There's a big old element of risk in nailing your colours to the mast but you don't get to the position he has without making some leaps into the unknown.
It'll be fun to see how others play catch up, if they can bring themselves to do that at all.
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One Bitmex rape wick has more effect on the market than all of this but it'll be interesting to get a sense of how many people did take the plunge. If it were me I probably would do just for the comedy value.
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That, however, does not have answer to the argument that if purse.io's problem was financial and bitcoin's economy cannot support it, how can bitcoin cash save it?
Who says it has to follow the same business model? He might change it completely. What it does have is brand awareness and that's a big arse job to create from scratch. People know it as place to exchange gift cards for crypto. There's room for other options within that remit, let alone beyond it. |
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They provides better privacy. Having better privacy for good reasons or bad reasons (illegal as you discussed) totally depends on each people. About mixers, not all mix services are good enough to provide you privacy, some of them do neither provide better privacy nor protect your money. They instead are scam services and can steal your money. You can also use CoinJoin transaction to have better privacy. - CoinJoin: Bitcoin privacy for the real world- [Guide] Decent mixing methodsAnother thing you need to be conscious of is whether your mixed coins have the telltale signs of being mixed. Though a third party service won't know the origin of your coins, if they can clearly tell they have come from a mixed transaction then they might get arsey. Binance Singapore have been giving Wasabi coinjoined coins the boot because of that. |
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