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So as US is trying to drive away Coinbase, they are making a bold move with this kind of offerings. So I guess sooner or later, maybe in the next year or so, they will be 100% out of the US jurisdiction and building somewhere else.
It could be agreed that US is really going anti crypto now with Binance, and maybe one day, they are falling behind the adoption of BTC.
Coinbase's move to launch an international exchange is a sign of warning that it will be leaving the US soon. It's a pity considering that Coinbase is one of the biggest (if not the biggest) crypto exchanges in the country. That would be a huge loss for America that's too hard to bear. If only Gary Gensler was removed from office, this madness would stop. Either way, we cannot deny that the US is falling behind other countries in terms of crypto adoption. Europe is faring better than the US in this regard. Now China is considering getting back in the game by adopting crypto/Blockchain tech through Hong Kong. If major crypto companies move there, the US will be left behind in the dust. Sadly, US individuals will ultimately pay the price as they find it difficult (if not impossible) to get access to crypto using the USD. Let's hope the SEC changes its mind, and embraces crypto/Blockchain tech for the good of the industry. Just my opinion  |
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Indeed, Bitcoin mixing and money laundering are two different things. But the problem here is that the line that separates both is very thin. Plus the fact that the goal of these two are somewhat the same which is hiding traces or origins of the funds through a variety of ways. Thus, giving the government and authorities the sweet excuse to pin down such services as much as they can. It doesn't even matter whether the reason is just or only for the sake of personal gain of certain individuals. As long as there is a chance for it to be used by criminals, the authorities and government will always take advantage of their justification of protecting the people to give Bitcoin mixing service providers a hard time in every way possible. The only thing we ordinary people can do is to support these type of services in our own ways and look for workarounds that would help us keep as much as we can of whatever control and privacy there is that we still have left.
Centralized mixing services don't stance a chance against the government. But with non-custodial (decentralized) mixers, that's another story. These will be the ones that will ultimately survive as governments will be unable to take them down for good. But be aware that you can still get targeted by the government if it discovers you are using a decentralized mixer. After all, governments don't want you to gain true privacy and finacial freedom. Therefore, we should expect tougher days ahead for crypto mixers and privacy coins alike. As long as decentralization wins, there should be nothing to worry about. Just my thoughts  |
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What do you mean miners? its a POS now and not in POW so it must be cheap and scaled now like other L2 but this is not guaranteed as eth still suffers from network congestion especially if you interacting in 2or more contracts at the same time, eth for now still need many improvements to cater more demands.
PoS didn't have a positive effect on gas fees due to high network congestion. We can blame Vitalik Buterin for making ETH an "all-in-one Blockchain". Both smart contracts and accounts are running on the main ETH blockchain. It would've been best to separate contract deployment and/or execution from the main chain to avoid any bottlenecks in the long run. Now it's too late, as fees are rising like there's no tomorrow. Danksharding needs to be implemented fast for on-chain fees to decline by a large rate. Otherwise, we'd be stuck with L2 (off-chain) scaling solutions and alternative Blockchain networks that are centralized and unreliable (especially Solana). Consider how Bitcoin's TX fees have been rising due to the Ordinals NFT craze. Would you imagine BTC being used for other things like domain name registration and tokens? It would add more burden to the Blockchain, resulting in higher fees and longer wait times. Let's hope ETH scales fast before other chains "eat its cake". Just my opinion |
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Protecting investors is only the reason being used to impose regulations and maybe in the beginning it might have been the real reason, however, the real rulers of any country who back politicians and put them in their positions in government are being used to create regulations to control different types of industries and maintain their dominance. This is why many people think regulators end in doing too much. The government does not work for you, it works for the real rulers.
Also, do you know who gives their banks a bailout during a crisis? It is you the tax payer hehehehe.
Banks and governments always win. It's the taxpayers that always lose. You'd think governments will allow you to obtain true financial freedom with something that's outside of their reach? They will regulate crypto "down to the bone" until they diminish its dominance worldwide. Given that cryptocurrencies are decentralized by design, don't expect them to take over the traditional monetary system anytime soon. Let's see how crypto regulations will play out in the US, especially when there's a lot of money involved in this industry. If the US goes too hard on crypto, it will miss a huge opportunity to collect taxes and gain a certain level of control over crypto transactions going through CEXs. Bittrex leaving the country may only be the "tip of the iceberg" as the worst is yet to come. The next exchange in line would be Coinbase. The exchange already threatened to leave the country if the government doesn't provide regulatory clarity. Pro-crypto US politicians better step up to the game, or you can say goodbye to the crypto industry in the US for good. Just my thoughts |
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I really hope it lasts. Because I've seen exchanges that were once KYC-free, now requiring users to verify their ID to be able to use their platform. A good example of this is Bybit exchange. You really can't stop the government from getting what it wants. Fortunately, nothing is lost thanks to the advent of DEXs and P2P exchanges. CEXs will be required to comply with KYC/AML due to the way they're designed. But I cannot say the same about DEXs. It's difficult to enforce regulations on something that lives on different computers all around the world. Bisq, Block DX, and atomicDEX are the best thing around when it comes to trading crypto without KYC. With Monero and Bitcoin, the possibilities are endless. Let's hope governments don't start cracking down on these decentralized solutions for the sake of the entire crypto/Blockchain industry. Just my opinion |
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Saving doesn't only mean you hold your money in the bank. You can save money in any other places, including at home. You just don't spend them and don't invest in anything not highly liquid, and in case of OP not stable. In case of OP it is to have some stash for unexpected expenses.
Of course it is good to have some amount just in case, but if to save money for it involves present cuts in important and necessary expenditures, it is a waste, because if you really need something your needs won't disappear and inflation can cut part of your savings. Moreover some needs can demand more investment with time. So it is important to manage your finance wisely and not to be too obsessed with saving.
Saving cash at home is not recommended, especially when you won't earn any interest rates. How would you offset the negative effects of inflation if your money remains static? That's where savings accounts, Certificates of Deposit, and IRAs come in (banks). Or you can choose Bitcoin and Gold to save money if you don't mind about the risks. I understand not many people will be able to save money this time due to the high cost of living. Only those with "spare money to lose" will be able to do it. The decision is entirely up to you. As long as you don't spend more than what you earn, there should be nothing to worry about. Just my thoughts |
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As stated above, this is due to the Ordinals problem, what I see on mempool.space is that there are currently a quarter of a million transactions to be confirmed. I don't know when this ordinals craze is going to end but even if they stopped sending ordinals right now it would take a few weeks to lower the unconfirmed tx in the mempool and the fees. The problem I see is if this craze continues. Are we going to reach half a million transactions to be confirmed? A million? What is going to happen to the fees? If this trend continues, Bitcoin will not be used for everyday transactions, so it will be used only as digital gold.
Fees are insanely-high right now. I've had to pay a lower fee and wait a day for my transaction to get confirmed on the Blockchain. Either Bitcoin is getting spammed with Ordinals transactions intentionally, or whales are simply living up the NFT craze. This won't stop unless Ordinals transactions are rejected on the Blockchain. But that would introduce censorship on the network, making BTC no different than an ordinary payment processor. Miners will be the ones that will ultimately benefit from the high fees, as that means more money in their pockets. We should all start paying lower fees so miners would have no choice but to give priority to our transactions. I don't get why Ordinals original developer didn't built his project using a sidechain or the LN in the first place. He would've known BTC doesn't have enough on-chain capacity to support high demand for NFTs. This may've been done in bad faith to destroy Bitcoin in the long run. Let's see how Bitcoin Core developers and the community will react as fees continue to rise like there's no tomorrow. Just my thoughts |
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Technological developments have encouraged the government to innovate to make it easier for people to make transactions. Cryptocurrency technology has opened the eyes of the government to increase public interest in official money issued by the government, the popularity of Bitcoin and other crypto assets has made the government launch CBDC.
CBDC can only be accessed through the internet network, imagine if the internet is not available in some areas, people cannot make transactions if banknotes are no longer in circulation. The presence of CBDC to facilitate transactions, CBDC and paper money will work side by side without having to eliminate one of them because both have their own advantages and disadvantages.
Lack of internet access wouldn't prevent CBDCs from taking over the world. Governments will eventually fix the problem by giving access to the Internet to everyone via the use of satellites (or any other device). While paper money is a "useful tool" to most people, it's certainly a headache for central banks and governments alike. They can't trace or easily confiscate paper money transactions than those linked to credit/debit cards. Therefore, the ultimate solution would be to "phase out" paper money and force people to use digital currencies of their own. Who cares about CBDCs when we already have decentralized cryptocurrencies such as Bitcoin and Ethereum? Just my opinion |
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Yes, that is, I think China is trying to pull the rug out from under the feet of the United States, which is waging a war on crypto. This is a great opportunity for the Chinese government, the great competitor of the American economy.
I think they are trying to take advantage of the anxiety created by the US and attract crypto companies, as this way they will benefit economically and also prevent the US from controlling Crypto alone.
Unfortunately, the United States, with its hostile policy towards crypto, is helping China in its game.
China wants to stay ahead in the game, so it has no choice but to adopt crypto/Blockchain tech for its own benefit. And what better way to do it indirectly through a territory it controls? The US better make crypto regulations more flexible or it could be left behind in the dust by its rivals. One thing for sure is that Hong Kong is one of the world's largest economic hubs. Therefore, adopting crypto/Blockchain tech should help China attract investors and companies that will ultimately benefit its economy. Maybe Russia will "mimic" China by adopting crypto/Blockchain tech through a territory it controls? These are uncertain times we're living into, so expect the unexpected. Just my thoughts |
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All countries even those who are crypto friendly are most likely to be against Mixing , those countries who are crypto friendly are largely partners with centralized platforms that's to say they want to know how their citizens make use of crypto currency no privacy protection at all.
So using Mixing service will not allow them achieve their goal and as such they will definitely be against the service which they can't render a direct attack to any mixing platform since they are not registered or licensed by any regulatory authority, all they just want it a reason to attack mixing platform and that reason is to link it to money laundering and if they can validate any proof that a crime was committed using the platform then they have all they need to attack.
Which is why most people are seeing mixing as money laundering platform because of the Fud the Fed's and others Bitcoin haters are spreading regarding Bitcoin.
A real Bitcoiner will definitely know that mixing primary goal is to protect holders privacy, and has nothing to do with money laundering.
Tell that to mainstream governments who usually come up with excuses to stop people from getting true financial freedom. They make everyone believe mixers are used for money laundering and tax evasion just to keep Fiat currencies afloat. We should expect more crackdowns on crypto mixers and privacy coins as crypto/Blockchain tech becomes more popular. I'm glad there are decentralized (non-custodial) mixers aimed to give people the financial privacy they need without fear of censorship from the government. You can see how Tornado.Cash is still being used, despite the US sanctions. Now there's a new alternative called Privacy Pools using the same tech as Tornado.Cash. The revolution simply can't be stopped. Who knows if all centralized mixers disappear for good due to fierce government crackdowns? Just my opinion |
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In most part of Africa hardware wallets are not only difficult but expensive to get apart form using custodian wallets like trust wallet and metamask is there an alternative software that can help hodl Bitcoin in a flash drive. or otherwise
You can store the private key or seed on a flash drive, but I wouldn't recommend it because such storage mediums can be easily lost or stolen. If you're willing to encrypt your drive and make a copy of it on another drive, then I'd say go for it. I usually encrypt my drives with Veracrypt to store all of my crypto seeds and private keys. It's a cost-effective solution that's often better than a traditional hardware wallet. Printing the seed or private key is also an option, but you'd have to be very careful not to lose the paper or let someone else get access to it. Someone on the forum (krogoth) has been doing some tests by submerging paper wallets on water, so I'd suggest you check that out if you're interested. The great thing about Bitcoin is that you can store millions of dollars in the smallest place you can imagine, making it an extremely-portable asset/commodity. Not like Gold or Fiat where they take up a lot of space (depending on how much of them you have). As long as you have a backup plan to protect your Bitcoin, you'll be able to pass on your wealth for future generations to enjoy. Hope this helps.  |
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According to Blockchair's records, the highest number of Bitcoin Transactions processed was recorded on Sunday, breaking a 14-year record in Bitcoin history. Yesterday's transaction volume exceeded the previous Bitcoin bull run in 2017. According to Blockchair data on Sunday, there were 568,300 Bitcoin transactions, which is 78,000 more than during Bullran in 2017. Bitcoin transaction process peaked during bullrun of 2017 but the next two years in 2018-19 the Bitcoin market was completely dumping. Bitcoin Transaction Breaks Past Records in 1 May 2023 So What Does This Transaction Growth Indicate For The Future? I think this is all related to Ordinals NFT inscriptions. They're starting to congest the main BTC blockchain, resulting in higher fees per TX. Let's see how developers and the community will react once BTC becomes as slow an expensive as it was back in 2018. Either they will increase BTC's transaction capacity, or they will reject TXs linked to Ordinals altogether. In bear markets, the least you can think about is BTC's transaction activity rising to the roof. That only happens during a bull market as most people move their BTC to exchanges to sell for profit. In the meantime, I'd suggest you either wait until fees decline or switch to an off-chain scaling solution such as the Lightning Network for complete peace of mind. I'm pretty sure the NFT hype will end soon enough, leaving BTC accessible to all. Maybe there will be brighter days ahead for Bitcoin? Just my thoughts |
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BTC dead altcoin dead. BTC up altcoin makes only slightly movement. All of altcoins may be dumped to the all time low. Bitcoin is the key for altcoin to increase, if bitcoin is failing to increase and altcoin will be following it too.
I meant we must also aware about how strong bitcoin right now. Impossible for btc to be dumped so hard.
BTC has come a long way since day one. You can't expect it to lose value overnight. $10 is way too low for a scarce cryptocurrency such as BTC. If that happens, it would mean people have abandoned the cryptocurrency for good. So far, there hasn't been any indication that mainstream adoption for BTC is declining. On the contrary, adoption is on the rise even during these times of crisis (COVID-19 pandemic, inflation, Russo-Ukraine war, etc). I'm pretty sure BTC will reach a new ATH in a few years from now. Since altcoins follow BTC's "footsteps", they will lose value big time if the "King of Crypto" goes all the way down to $10. But again, that will never happen because of the reasons mentioned before. Let's all sit back and enjoy the ride as BTC sets course to take over the world. Just my thoughts |
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There will literally be no point in having cryptocurrencies if you give them to a bank to store them for you know they won't give you access to your private keys and your assets will be totally under their control. It's better if you just keep them yourself in a decentralized wallet where you have access to your private keys and only you can access your funds.
Regarding crypto banks replacing traditional banks, the world hasn't reached that position yet, there are more fiat users than crypto users in the world right now, and the systems that have been running for centuries won't just vanish so easily.
The whole purpose of crypto is to "be your own bank". Like you've said, I see no reason of giving custody of your crypto funds to a third-party. Banks will never give you full control of your coins, the same way centralized exchanges don't. I think only newcomers into crypto will find "crypto banking" appaling. The rest will either use a CEX or practice self-custody of their crypto funds. Mainstream governments are cracking down on crypto/Blockchain tech real hard, so it's likely "crypto banking" will disappear in the future. I wouldn't worry about this, as long as crypto remains decentralized and censorship-resistant. Just my opinion |
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No way at all. Even reducing fee from default setup, could make your fund stucked during this highly busy network. Although eth gas fee has reduced a lot if it is compared with previous years. but it is still suffer to give us the best transaction rate what bsc, matic, trx does. So we have to give such fee if we want to transfer tokens through this erc Network. That's why i already moved with bsc.
BSC and other alternative blockchains are not as decentralized and censorship-resistant as ETH is. You're basically sacrificing decentralization for low fees and faster transaction speeds. Rising gas fees on the ETH Blockchain, tells us that people are using it more frequently. There's no need to worry about this, especially when there are L2 scaling solutions for ETH. Or you can decide to wait until gas fees decline to make your move. ETH developers will soon roll out a series of network upgrades aimed to improve on-chain scalability. Once that happens, high gas fees will only become history. As long as ETH remains decentralized, nothing else matters. Just my thoughts |
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The problem with Gensler is, he is using decades old rule to regulate modern economy. Why not just make new or update old laws/rules but instead they are driving away a new industry in the USA.
Agree. Congress really needs to work on that to ensure the healthy growth of the crypto/Blockchain industry within the US. There are already pro-crypto congressmen in the country, so it should only be a matter of time before this is realized. SEC Chairman Gary Gensler could eventually be removed from office if Congress decides to do so. How will this play out for the crypto industry, is yet to be seen. But I have a feeling things will turn out well without someone who's constanly "attacking" crypto all of the time. All in all, Coinbase did well in stepping up to the game. It could win the lawsuit against the SEC due to unclear and outdated regulations. Maybe there's light at the end of the tunnel? Just my opinion |
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It appears much of the people who were waiting for their payments in bitcoin had to wait for 2 days before it arrived in their wallets? I was also waiting for a payment and it arrived after 48 hours of waiting. It was not an important transaction, however, there might be other people who need their payments more quickly and might be forced to pay a higher fee. In any case, this news article mentions the cause of the high fees. If there is profit in these activities, I speculate this might begin the transformation of bitcoin into something similar to Ethereum. ... Ordinals notched a new record on Saturday as the protocol used for inscribing digital assets on Bitcoin—producing assets comparable to Ethereum-based NFTs—had its busiest day yet.
In April alone, the daily record for inscriptions made was shattered four other times. That included roughly 72,000 inscriptions on April 2 and 193,000 inscriptions on April 23, according to the Dune dashboard.Source https://decrypt.co/138438/bitcoin-transactions-soar-as-ordinals-barrell-past-2-5-million-notch-daily-recordThat's the problem. Constant NFT inscriptions will eventually clog up the BTC blockchain to a point where TX fees will become highly-expensive. This will force us to use an off-chain scaling solution such as the LN for day-to-day payments. BTC was never meant to be used as a "multi-purpose" Blockchain. For that, we have smart contract platforms such as ETH, ADA, BNB, and so on. Leaving Bitcoin solely for finance is best to prevent network congestion or adding security risks to the same. I guess Bitcoin Core developers are going to need to work on another upgrade to help alleviate high TX fees for a while. Either that, or nodes/miners stop accepting transactions related to Ordinals inscriptions for good. Let's see how everything will turn out to be in the long run, as Ordinals rises on popularity. Just my thoughts |
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If at least one of those countries gave favorable signals that will be a reason for the market to pump, but while both of them want to use bitcoin to their advantage both of them also hate the freedoms people can get through it, which is why both seem to be so indecisive about it and their policies keep changing, however it would not surprise me if this was also nothing more but another scheme by the Chinese government so a few months later they can once again change their posture and create more FUD to try to bring this market down.
Most governments are joining the crypto/Blockchain train because of the taxation benefits. Not because they want people to achieve true financial freedom. The latest series of events tied to crypto mixers and privacy coins alike tells us how mainstream governments (especially the US) are against people's financial freedom. I think that's exactly what China will be doing through Hong Kong in the long run. It will "embrace" crypto/Blockchain tech to attract investors, but the government won't let people use decentralized cryptocurrencies at their full extent. There's no need to be surprised about this, especially when China is a communist country. Communism = more power for the government and less freedom/rights for individuals. Let's see if China's move will trigger Russia to do the same in the future. Who needs the approval of governments for crypto to survive anyways? Just my thoughts |
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@Abiky. Also, if CZ and Binance evade much of these regulations and to continue what they have been doing, it would also imply that the laws the regulators use have become limited in managing the cryptospace.
I shake my head because it was Bittrex that wanted to be regulatory compliant and they delisted much of the ICOs in the exchange on 2017. This caused Binance to become the exchange for maybe more than 80% of the market for ICO coins and tokens. However, what did it bring Bittrex for following the rules? Presently other exchanges are learning from CZ hehehe.
Regulations are there to protect investors against malpractices from crypto exchange companies. But too much regulations, will cause a mass exodus by said companies to other countries that are much more flexible. The US is trying to do the right thing by eliminating as much illegal activity as possible on the crypto industry. It's just that it's doing everything the wrong way. Congress needs to devise a proper regulatory framework to bring clarity to the crypto industry in the region. The first step would be to remove SEC chairman Gary Gensler from office. That would provide a sign of relief among crypto exchanges and investors alike. I was surprised to have read about Bittrex leaving the US when it was always striving to comply with regulations. Maybe there's something else behind that made Bittrex take such a decision? Now Coinbase threatened to leave the US, so things will get interesting in the following months. Let's hope there's "light at the end of the tunnel" for the crypto industry to thrive within the US. Just my opinion |
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Shiba is just currently using their plan transition into a privacy coin as a catalyst to stay relevant to the market. Those who don't hold crypto wouldn't be excited as much as those who have it. Those who hold their this shiba coin will have something new to boast for though I also think that Shiba would be a first choice for those who would want to invest into privacy coins. Those established coins like monero or zcash would ultimately the first choice of investors as they have been long to the market and has the features that is tested and use by majority for a long time now.
Why would Shiba Inu want to "stay relevant in the market" by adopting privacy features? On the contrary, doing such a move will be a step backwards towards mainstream adoption for the cryptocurrency. The fact that privacy coins are being de-listed across centralized exchanges, tells us that there is strong opposition against them (especially by mainstream governments and banks). Thus, for the sake of the Shiba Inu project, it's best to leave things just the way they are. Instead of focusing on privacy, Shiba Inu should focus on following the next big thing in the crypto/Blockchain space. NFTs, AI, and the Metaverse is where the money is. Not privacy/anonymity. Ultimately, it all comes down to what the community wants for the cryptocurrency. As long as decentralization is put first, nothing else matters. Just my thoughts |
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