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'A currency, in the most specific use of the word, refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins.' Quoted from Wikipedia.
Bitcoin does not fully fit into this definition so it is not entirely a currency in my estimation.
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If we have accepted that bitcoin price goes up and comes down, then there is no cause for alarm. It is part of the game. It is TBC they say always go up and don't come down, not BTC.
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He has not used cryptocurrency. Has he? If yes, he wouldn't ask that question. One simple answer is fast, decentralized and well secured peer to peer payment across the globe.
It this has existed before cryptocurrency, he should let me know. I see it as added value.
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I have a concern. Bitcoin can fluctuate but when every other coin follows the trend is a source of worry for me. I begin to wonder if the same people influences other coins at the same time.
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I have joined the signature campaigns. Hoping to have a good participation.
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What is the duration of this campaign?
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Expectedly, this campaign was a huge success.
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Bitcoin is the vehicle that drives the blockchain. Except the blockchain technology is jettisoned, bitcoin will not die. The price of bitcoin now is as a result of speculative buyers. However, most of the altcoins coming up now are developed for a particular ecosystem. Such coins are driving by smart contract on ethereum blockchain. They have a potential different from bitcoin. Depending on the acceptance and usefulness of such ecosystem, it may survive without bitcoin.
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I had expected ethereum to have carved a nitch for itself. But surprisingly, it is still toeing behind bitcoin. The price swings because bitcoin swings and in the same direction too.
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Do not expect a Government approval of bitcoin. It is a giving away of control. However, they cannot kill bitcoin. More so the blockchain, the technology on which bitcoin runs is very valuable. So the Government is some what in a fix.
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The central bank of India (RBI) today, directed all the regulated bodies to not to provide services to any individual and business entities that use or deals in virtual currencies within a specified time period i.e. about 3 months.
RBI bans regulated entities to deal with crypto users
Reserve Bank of India (RBI) has barred the regulated entities including banks from providing services to any individual or business entity that deals with virtual currencies.
Today has been the first bi-monthly Monetary Policy Statement of 2018-19 of RBI, where the central bank has given a 3 months period to sever their ties with the entities using virtual currencies.
Why I love the crypto world is because it is P2P. They can stop transaction on the open but they cannot stop the P2P exchanges. The only issue is when you want huge sums. |
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It is a sad one for crypto enthusiast in India. This is an infringement of their rights. If India is a democracy, then they should reverse the decision soonest. However, there is a saying that when one road closes, another will open. It is only exchange they ban. You can use other available means to convert your bitcoin to fiat these days. |
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It is a good move you are making. But you should understand that this school will take time to graduate. I am sure that with time he will grabs the stuff. Just be consistent.
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Bitcoin is the vehicle that drives the blockchain technology. Except for the offshoots like smart contracts using ETH. bitcoin will remain relevant as long as blockchain is relevant.
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Ethereum is yet to demonstrate that it is a force to reckon with. How can Ethereum beat bitcoin when both prices swing in the same direction at the same time?
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There is no way for now to know which bounty will do well in the market. But once we are talking of market then it is no longer bounty but the token has being sold. At this point, it is left to market forces.
So, the question is are you asking for successful bounty or successful token?
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Merit system was implemented so as to improve the quality of forum without involvement of moderators. If you find a person abusing the system then you may report them here. But theymos has clearly stated that : While we will not be directly moderating this, I encourage people to give merit to posts that are objectively high-quality, not just posts that you agree with.
We as a community must tackle with this. Obviously the merit system is a good introduction but members are constantly looking for ways to circumvent it. I was thinking there is a moderator. |
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The collusion is because of misunderstanding. The government completely misunderstood the working of bitcoin only looking for ways to control it. But bitcoin being decentralized and P2P is not easy to be controlled.
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Your subject topic and the question in the body of your discussion are diverse.
Bitcoin is designed to operate with or without government approval. Russia is reported to have legalized bitcoin.
It is feared that bitcoin could be used for illegal activities such as terrorism. But even legal currencies too have been used. So it is not the nature of bitcoin that make bitcoin vulnerable to illegal use.
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