You must be talking about running a full node. Here is more information about the subject: https://bitcoin.org/en/full-nodeBut yeah, generally, running a full node does contribute to the network. Bitcoin Core also happens to be one of the most secure desktop wallets available, and you get to broadcast your own transactions to boot. It has fairly low requirements apart from the hefty disk space required, so you should go for it if you could. |
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Yeah, but how often do those incidents happens? Like every 20 years on average? This is the first one I’ve heard so far.
Exactly. I see a lot of crypto people overreacting to this. I don't see this as a point towards Bitcoin because it can't even a handle a fraction of what Visa is handling at the moment. Visa does need to step up its game though. I don't know about cashless not being a good idea because of occasional failures. It's certainly a big deal and is a massive inconvenience, but I imagine service providers are going to scale their efforts with the demands of society. If they can't afford a fuck-up, they'll take every step necessary, and more, to avoid one. I'm not saying they were lax, but Visa apparently "only" represents about 1/3 of all UK spending, so it's possible that they didn't think the stakes were high enough and that the downtime was completely avoidable. I also completely agree that Bitcoin would be far more reliable, but it still has to prove that it can scale before that conversation even begins. |
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Dictatorships don't work anymore, and it could even be argued that they never worked at all. If I were a Turkish citizen, I'd be stocking up on Bitcoin, gold, and foreign currencies right about now. Things are looking ominous.
I personally hope that I'll never have to use Bitcoin to flee economic collapse, but it's still good to know I can use it as such.
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But does that mean their own coin, Bitcoin or something else?
I seriously doubt it. It's a Chinese company, so it would be reasonable to believe they would follow their government's core principles. China wants to be in control of pretty much every single aspect that they can, so I seriously doubt they're going to incorporate a decentralized currency in their business model. Their anti-crypto policies also make this unlikely, as it currently looks like they could implement a complete ban any time. Using the blockchain probably lowers their overhead somehow. I doubt they're using it as some kind of gimmick, as there's essentially no competition. Either way, using the blockchain doesn't necessarily mean that they'll be accepting crypto as payment. You can't take the blockchain out of crypto, but you can certainly take crypto out of the blockchain. |
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His opinions certainly carry more weight than most, but having the Nobel Prize doesn't mean you're always right. It's entirely possible that he's only speaking on the economic side of things, as that's his specialty. That's a recurring theme for people who speak out against Bitcoin anyway -- they always talk about the mania and how it's setup for failure, but never about the actual technology and its potential. I mean, it already does international and cross-border money transfers better than traditional systems, and it's very much still in its infancy. There's a lot of untapped potential in there, regardless of price movement.
Either way, I'm not losing any sleep over it. It's just another opinion at the end of the day. I still believe that the world will find Bitcoin beneficial, and maybe even necessary, in the future.
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It's already being used as such. Off the top of my head, an artist is essentially giving some away as a prize for solving a puzzle within his artwork. I'm sure there are plenty of other instances. I don't necessarily believe that giving some away as prize money is revolutionary. If I were to choose, I'd much rather have more merchants (major commerce giants like Amazon, especially) accept it as payment because it would have a much more lasting effect towards adoption. |
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I would like to add another thing to your list. Some airdrops ask KYC documents to get their tokens. It seems like a scam. They are going to steal your identification documents. Be careful guys. My personal advice is don't submit your identification documents to airdrop forms.
Just because they implement KYC doesn't mean they're automatically out to scam you or steal your data. That being said, this does put them in better position to do such things, so you should always be careful about sharing your information. I strongly advise against it as it's almost never worth it. |
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Reported. Everyone should be reporting these accounts on sight. Information campaigns can only go so far, it would seem, as it doesn't look like they ever run out of victims despite all the warnings everywhere. Let's all do our part to make sure these accounts don't see the light of day as soon as they pop out.
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Indian government will only regularize the use of concurrency. Many exchanges has filed case against government for not allowing to do business . Even many celebrities, politician in india are in favor of crypto currency. legalization . When share market had been started in India , same protest was seen , but now it is legalize and playing a good role for Indian economy.So supreme court will take hearing in this regard in July moth. https://inc42.com/buzz/cryptocurrency-this-week-supreme-court-to-hear-bitcoin-rbi-case-on-july-20-and-more/So there are no temporary restraining orders or anything to that effect? The ban will be in place indefinitely? That's a pretty shitty way to handle it in my opinion. If a rule potentially violates the constitution, it should be put on hold while the decision is up in the air. The ban would be put into full effect around July 5, 2018 so there will be around two weeks of limbo. Still, I guess it's pretty good that they seem to be listening to the people at the very least. |
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Is it really decentralized? I can't seem to find information about it. It looks like it will be state-issued, so I kind of have my doubts: “As a country, we reserve the right to issue a currency in whatever form it is, whether in digital or fiat form,” said David Paul minister-in-assistance to the president of the Marshall Islands They have some serious balls if they want to use a decentralized currency as their official legal tender though. I hope they have some serious anti-manipulation precautions in place. |
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There are two red flags in this specific case that newbies need to look out for:
1) Promise of high returns - if it's too good to be true, it likely isn't true. If a company is essentially willing to give people a fortune for free, it's not a good company. Remember that businesses can't give away money if they want to survive.
2) Making you click a link that points to an external exchange/wallet - you should always type these kinds of services out manually or access them through a bookmark. Opening them through external links/PMs/emails is a very common way to get phished.
There's also another red-ish flag, which is KYC, but that's not inherently bad. Just make sure you know what you're getting into. I would recommend only giving up info if you absolutely trust the party you're giving it to.
But yeah, thanks for the heads up OP!
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What do you mean by we?
Everyone will have varying degrees of answers because not everyone uses centralized services as much as the others. One could easily not use any kind of centralized service and thus achieve being "in a fully decentralized system".
Either way, I don't think majority of transactions happening within centralized services hurt Bitcoin's decentralization as a whole. Everyone still plays by the same rules at the end of the day.
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I am really not aware about the actual scenario of Philippines' banking industry. So when the article said the minimum balance required is $2,000, I gone ahead with the same understanding. So now my question is, if the banking system is accessible to everyone and a bank account can be opened with only $40, I don't see any reason for the remittance centers to exist.
In my country India, I can open a free bank account without any minimum balance requirement. So here I don't see a huge scope for remittance centers to operate. As a result we only have big corporate remittance companies like western Union, Moneygram and Paypal operating in India. They usually don't have much standalone shops set up for them, instead they operate within the Banks. They set up their small kiosk within a bank branch to facilitate the remittance.
So I believe you can understand the question here. If the banks are accessible to everyone and don't bring any financial burden to their citizens, why Philippines have a lot of remittance companies operating in this country. There must have a been a gap somewhere which I am trying to understand.
Here is one article about the issue: https://www.balikbayad.ph/blog/banks-vs-other-remittance-providers-which-is-better-in-money-transfer/tldr; they offer better services in some cases, and while that is a knock on banks, it has nothing to do with financial inclusion or lack thereof (because most people do have access to an account). It also has nothing to do with banks imposing any kind of financial burden for citizens, as bolded out, because this is free market at work; remittance companies do small transfers better, and are thus the service of choice for most of the working class. Bitcoin and other crypto would be a better choice if it weren't for their volatility, and it could even be argued that it's better regardless. That's more of a testament as to how revolutionary Bitcoin and crypto is though, rather than the narrative that banks are oppressive, because they're definitely not in this case. |
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I've personally never encountered anyone who's lost money in Bitcoin and spread FUD afterwards. This is completely anecdotal, of course, but I feel like most people won't be proud of the fact that they lost money. They have nothing to gain by actively and preemptively exerting effort to ruin the party for everyone. I mean if you ask them, I'd sure they'd be more than willing to share how Bitcoin is bad and such, but actually spreading FUD might be a stretch.
I'm more inclined to believe that the people who actively campaign against Bitcoin are people who actually have something to gain from its failure. It could be anywhere from people who just want to buy low (like Dimon) to people who are rooting for competing coins (like some subsets of Bitcoin Cash supporters).
Either way, it's best to pay them no mind and to straighten out their facts. Haters gonna hate after all.
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You can't see which ones were correct and incorrect as far as I know. If you really want that information, you could track down every single post you report (by copying the link address above the post timestamp) and see which ones are still undeleted. It's pretty roundabout, and it's obviously not viable for a big volume, but at the same time there's no real reason to track them anyway. The page itself says not to worry about accuracy.
That's pretty good reporting either way though, so you should simply keep it up.
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So this means that Union bank will now use Eth as a form of payment? (Sorry for not being sure because the thoufh is not direct to the point.) Oh! That's a good news for us, I'm pretty sure will become interested into this making that bank as People's choice.
I'd say assuming that they'll accept ETH just because of this collaboration is jumping a few steps ahead. It wasn't explicitly stated in the article, but the cost comparison section leads me to believe they simply want to use blockchain technology to improve their services and cut down on overhead. You can't really rule it out in the distant future though. As crypto becomes more prominent, banks are more likely to embrace them. I simply don't see that happening anytime soon though. |
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-snip-
As an example - last year 2017 there were lots of rumors that Bitcoin is going to reach the 50.000$ point in future. Some even wrote about a 100.000$ price. This started when BTC was under 2000$, exactly 1 year ago, spring. So till the end of 2017 it reached almost 20.000$ than fell down to 7.000$ until now. My 1st question is - the rumors about 50k-100k helped this pump to 19k? And my second questions is - are there any rumors now similar to those of 50-100k? Or the enthusiasm has chilled? I didn't manage to read a lot on internet so this is why I am wondering if the story is being repeated or not since last year. 1st question: Maybe. People in crypto know not to take any kind of prediction seriously because it's basically 99% guesswork -- analyses generally fall flat in their face because world events completely override trends. If we were to assume that newcomers caused this pump, however, we have to take into account that they're more likely to believe these absurd predictions, and very well could have even entered the market with them in mind. We won't know for sure though. 2nd question: There are always rumors. Take a look at McAfee, for example. He has predicted an absurd price level and he has a fair number of believers. Every other famous guy that talks to the media also has their own prediction. How likely they are to be believed is a different story entirely, however. It's possible that more people believed in them last December because of how well Bitcoin was doing. I'd say people are more likely to brush them off now because Bitcoin hasn't been doing very well. |
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The banking system in Philippines can only be accessed by the high net worth citizens. The reason is the default balance requirement of minimum $2,000.
This is completely and absurdly untrue. $2,000 is a fortune for a large majority of the Philippine populace and it would make zero business sense for banks to require such an amount for an account. Even if the article meant Php 2,000 (which is around $40), it would still be off-base: https://www.thinkpesos.com/8-savings-account-with-low-initial-deposit-and-maintaining-balance/According to that link, you can maintain a bank account for as low as $2, which is a whopping 1000x lower than what the article claims. Payroll accounts for company employees don't even have a maintaining balance, having been designed for people who live paycheck-to-paycheck of which there are a lot in the Philippines. I'm all for financial inclusivity, and therefore think this project is at least worth looking at, but I'm against misinformation. |
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Also, even those who haven't spent so much on BTC or even spent nothing - what do you think of this? What will be in December? What is you point of view upon this situations? I was always thinking about this, but never had time to write this post on the forum. Was to busy working for my tiny salary lol  I don't think much of it. It obviously sucks that people lost money, but nothing is guaranteed as far as investments go. People who put money into Bitcoin should know that it's incredibly volatile, which means that anything can happen at any time. They took the risk and didn't win. It can happen to anyone, for any investment. That being said, I'm sure Bitcoin can bounce back as adoption picks up, so I would recommend for people who lost money to just stick with it because they'll be able to recover eventually. That's only if they could afford such a move of course, because we obviously have no idea when that will happen -- it's going to be better for some people to simply cut their losses. As for December, we can't even predict prices a day from now, so more than half a year would be a stretch lol. The trend from last year won't mean anything unless we somehow break out from the current bear market. |
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For those who want to read the full article: https://www.cnbc.com/amp/2018/05/26/bitcoin-still-a-buy-says-blockchain-venture-capitalist.htmlHe's right in my opinion. Bitcoin has always been one of the most stable cryptos to date, and it still definitely has the brightest long-term outlook among the major ones. Heck, I would even go one step further and say sell everything and just hold Bitcoin instead. It's hard to justify diversification when everything moves pretty much the same way like 90% of the time. Might as well hold the safest one, right? |
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