What are the challenges that you see when using crypto?
Because it seems to me that we are still in the initial phase of development and the road is not that short. In my opinion, there are challenges in the field of centralization and data control. And also regarding legal adoption.
As of now, there are many challenges that cryptocurrency is facing. One, there is that perceived lack of scalability most specifically Bitcoin preventing it to become a global payment platform as it should be, though I would say that being a store of value can really be its main trait (and there is nothing wrong with that). Two, many governments will not easily let go of the control they have over their country’s economies and many are convinced that cryptocurrency as a whole can be representing a threat to them. Three, many people are still associating cryptocurrency with scams, frauds and something that they should avoid (though this is slowly improving in many fronts). Fourth, there is that big and one-sided emphasis of cryptocurrency as a speculative tool and though there is nothing wrong with this per se it is making things myopic, in my opinion. |
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I am sure you are not alone wondering why there seems to be no big marketplace (similar maybe to Amazon and similar platforms) that can be considered to be associated with Bitcoin. There are some smaller platforms accepting Bitcoin, but they are just an addition to what they are already offering. In my own humble view, it has something to do with the demand because if there is really a big demand then the business community can easily recognize and exploit it. Of course, there can be other factors also involved.
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Most people don't plan their acquisition strategy, and that's why we have "weak hands" that sell when they shouldn't sell (and regret it later). Basically, I feel that its very important to have a target price range, a target investment amount, and then work towards that slowly to get to your goal. In the video I show you one way of possibly doing this.
This can be because many of the Bitcoin holders are small investors and they are not really under the professional investors category. Just like any other investment, there is a learning curve in Bitcoin and an investor must learn the basics and what are his goals in getting into the world of cryptocurrency. I hope to be learning something from your video and this forum so that I can come up with my Bitcoin goals, with long-term plans in mind. |
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I love the idea of a mechanism making sure that there should be proper and proven way of delivering Bitcoin as an inheritance in case something will happen bad to its original owner. I understand that there are some platforms offering such services though I am not sure if they are really safe and will deliver according to their promises. This is actually interesting.
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some TA guys in aWhats-app group I co-admin
your mistake is thinking they are doing "technical analysis". where in fact they are just idiots drawing line on pictures that may as well be the drawings of a 6 year old. i am surprised you even waste your time having such a group since these groups are always misleading everyone and end up causing big losses for anybody who listens to their bad advice. by the way it does not matter whether they were right or wrong, when what they say makes zero sense. I remember one time when I joined a pump and group thinking that it could help me get into some profit only to realized it was the best way to get doomed. There are so many groups like this...and it is amazing that many people are listening to what these people have to say. Successful traders are usually not that expressive when it comes to their secrets... Anyway, Bitcoin right now is exploding and whether this can be due to the coming "halving" that is for many to speculate and discuss. I am just a small BTC holder, and I am happy with the way things are... |
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#PROOF OF REGISTRATION
Forum Username: salamat700
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I don't understand why there are still "experts" who are thinking that they possess the depository of knowledge and wisdom as to Libra and Bitcoin. While certainly, there is a big possibility that Libra can soon be emerging as a very competitive payment cryptocurrency the whole can use, we have to remember that this is just a potential and that it is not going to be an easy ride for any so-called payment platform to win the global market. We have to remember that the brand behind Libra is suffering from reputation problem. In addition, Libra is centralized and under the full control of a group of entities, something which Bitcoin is not. I have no problem with Libra and yes one day I can also be using it but it does not mean that I am leaving and will not anymore be supporting Bitcoin. The whole marketplace is quite big and we should allow open competition...whoever wins in the end is beyond me to predict.
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I know that some will be arguing that what China is cooking right now is not actually a real cryptocurrency due to its centralized and state-controlled nature. But what the heck, China is the next world superpower and it is seeing the vision of using cryptocurrency to further its entrenched economic position all the world.
I am seeing a great potential of this coming state cryptocurrency to be utilized in transacting business with China or in eCommerce department, and this is a huge potential. Jack Ma must already be thinking something how to exploit this great opportunity.
Are you seeing what I describe here? China is conquering the globe without using any sword...
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Lebanon is far from a poster child for cryptocurrency adoption. News of Lebanese banks shuttering to prevent a bank run was met with predictable enthusiasm from the global bitcoin commentariat. People in Lebanon can no longer send foreign currencies, mainly dollars and euros, abroad. Further, due to heavily restricted banking access and limited liquidity provided by established grassroots networks, most Lebanese civilians also struggle to acquire bitcoin.
“Bitcoin will not help the people. It will help the politicians because they are the filthy rich ones who have access to money,” one anonymous bitcoin trader with family in Lebanon told CoinDesk. He uses a European bank account to buy bitcoin, then sends it to people on the ground in Lebanon.
“It [bitcoin] could help them, perhaps, if they were sitting at home with 24 hours worth of electricity and internet, and they could work online to get paid for their online work. That’s a utopian scenario,” he added. “In Lebanon, the internet is very expensive. Electricity doesn’t come often. We sometimes have electricity for just six hours a day.”
Source: https://www.coindesk.com/how-lebanons-economic-crisis-highlights-bitcoins-limitationsI can feel that there is really a big potential for Bitcoin in Lebanon, it is just that there are factors that are beyond control. However, maybe if the problem in Lebanon will escalate for a longer period of time, people will gradually be starting to take notice of the real and full potential of Bitcoin to be a tool that can help them. What do you think, guys? |
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I am just curious: Why do we need institutional money coming in to Bitcoin as if it is the one that can rescue Bitcoin from going down? Is this not an obvious sign that as a supposedly P2P currency Bitcoin is failing on this aspect?
Bitcoin is supposed to be in the hands of the people and not with institutions, or so that is the impression I got by reading some articles about Bitcoin and it should be taking the many traditional institutions by storm, right? Now, I am seeing that it is the other way around.
Please correct me if my impressions is really wrong. Or maybe I miss something here. But please don't insult my ignorance...
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Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.
Is my concern really valid in the face of this ongoing development?
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Dramatic, amazing and unbelievable are some nice words that described the latest rise in the price of Bitcoin and especially so when it was hovering for days at mo than $7000 and people were wondering if Bitcoin will be going down further to $6000 or will it break through the boring situation.
Then all of a sudden it made some burst even reaching more than $10,000 and people scrambled to find what can be the reasons behind the amazing surge. While there are those who linked the statement of China's president on the blockchain, there are also who are looking at the possibility that this movement is actually just manipulated.
Right now, Bitcoin is back at $9100 per CMC and seems to me like is taking some rest for a probable another big dip. Do you believe that this is just a manipulation and because of that it could not hold on to the $9000 price?
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We are always talking here the many benefits, advantages and power of Bitcoin, but we know that for every coin there are always two sides. Bitcoin, am sure, also have its own many weak points that may or may not need some good attention or focus.
Please share here some weak points of Bitcoin that you know and feel...let's discuss them one by one and see how solutions can be applied into them.
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There seems to be a trend not yet recognized by many experts and that is the withering interest of the people on Bitcoin, especially if we compare today with the days of 2017 and early months of 2018. Of course, we could not expect that people will always like, search and talk about Bitcoin for years. There will always be a plateau and a possible downtrend, sometime somehow.
Is this something we have to accept or should we do something about this?
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In every industry or market, there will always be people whom many loves and many hates. And in Bitcoin and cryptocurrency, there is no exemption here. While hating is not a good business, expressing some dislike can be a healthy one.
As far as being hated, I can think of at least two personalities, and we know why many don't like them: Roger Ver the man behind BitcoinCash and of course Craig Wright who earned the moniker as "faketoshi" as he is continually claiming to be the real guy and behind the Bitcoin SV (the original Bitcoin, according to its site).
Can you add more, please.
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This can be a symptom of the fact that a growing number of people especially those who really have the money are growing wary of the government and the traditional banking institutions we have. However, offshore banking is not completely safe as they are still under the nose of the government and laws can be passed to change the rules of the game anytime. The so-called safe havens will one day be not be safe anymore.
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There must be so many benefits and advantages that anyone can derive from being recognized as the real Satoshi Nakamoto that is why many are claiming to be the real one when in fact we know the real truth. The name of Bitcoin's founder has had been utilized for many purposes especially on getting the attention of millions of cryptocurrency lovers.
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In life, only two are very certain the first one is death and the other while still living is tax. Of course, that depends a lot on which country you are in and if you are well-off or not as usually moneyed people can easily find many loopholes in the law that they can exploit. As to lesser mortals just like me, I have no choice but to follow and pay what can be due to the government regardless if I am into cryptocurrency or not. This is the role of the taxman or IRS for this matter. We have to pay tax to avoid the inconvenience of being hounded by the long reach of the governmental arms...and that is regardless if we agree with the government or not.
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OP, it might be a trap, whatever their game is. Why would the bank of China educate the people about Bitcoin? Bitcoin is a takeover, they don't want people in their country using it. Or is the Bank of China HODLING?  In case this news can be true, then there is a big probability that China is really into something and yes they might have decided to instead dominate the Bitcoin market soon (if they have not already done that!). China has the desire to rule the global economic landscape and anything that can weaken the top global currencies they are so willing to use it anytime...probably they are seeing Bitcoin as one of the many tools they can use for this purpose. |
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