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Not surprising.
The whole premise of fiat currencies is that it can be used to pay for debts public and private, i.e. legal tender. Passing this bill would essentially imply that bitcoin is also legal tender when it comes to public debts, which is something that I think has far greater implications than just the legislations of one state.
There is nothing to worried about just because of this news.
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Maybe other participants of the forum will try to dissuade me from buying this coin? Or now everyone going to buy ETH now? I would say that ETH has been undervalued significantly for a long while now. During the bear market, you had ETH under 0.018 BTC which is way below its long term mean given its fundamentals. I think that the reason why it's having such a big bull run even outpacing BTC right now is making up for previous irrational dumps that had its value so low. I'm long on ETH for sure. With the improved fundamentals you'd expect further, sustained pumps as well in 2020. |
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This is honestly the pinnacle of meaningless statistics.
What next? Best perform in September since 2009?
Honestly, making news out of these short term price movements which can be completely unpredictable is a farce and shouldn't be done at all from the perspective of media outlets. Saying that bitcoin outperformed asset x over 10 days doesn't prove anything, and it really doesn't encourage anyone to adopt BTC either.
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I actually doubt that crypto will be able to replace fiat completely.
An ideal situation would honestly just be fiat and crypto coexisting, with crypto providing aspects of currency that fiat fails to provide, like a long term store of value as well as smart contracts.
It's a bit unrealistic to expect that the government/central banks around the world will just all of a sudden give up on the control that they have over monetary policy and the monetary system in general.
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Absolutely right.
Price movements in the short run are quite irrelevant in terms of long term holding or adoption. As a long term believer in bitcoin, one should not hope for periods of bullishness which can be just as easily offset by bear markets, but rather actual fundamental improvement in the bitcoin network, to which adoption plays a big role in.
Unfortunately though, a lot of institutional investors who enter this sphere have no regard for actual adoption and just want to make their profit.
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It's very unlikely that the BSV ATH is going to be breached any time soon.
Reason is simple - the underlying fundamentals of BSV are going to get exposed sooner or later as complete bogus. The previous rounds of pumps were essentially based on complete misinformation and FUD about the bitcoin network itself. So it's certainly unsubstantiated to begin with.
It's already retraced all the way back to $280, a far cry from the $400 highs.
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If you run a business I suggest that you treat volatility very seriously.
You can either hedge against volatility using a future or option. You can purchase these contracts on platforms such as Bitmex or Deribit. These derivatives will allow you to hold counter-positions to what you hold in BTC, which will cancel out any net movement in prices.
But if you're a long term holder of BTC without immediate cash flow needs, I think that you need to adopt a different attitude towards BTC volatility. Don't think of BTC in fiat terms as much as you do in BTC terms itself.
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Is Proof of Work is going to lose popularity compared to Proof of Stake? Ethereum is going to PoS.  Is there going to be a lot of hash (computational) power idle because of shifting to PoS?  Where that power be used then? Will it address such decentralized computing projects as Golem, Storj, Sia, etc?  I don't think that there will be "idle" power. There are so many altcoins and bitcoin mining opportunities out there in the market that it's not an issue for a miner to switch between coins extremely easily. Think of it as mining hashpower being very elastic supply. Is PoW going to lose popularity though? I don't think so, until BTC switches to PoS at least. And I don't see any reason for BTC to do so given the fact that it's working as is, and PoW is doing its job well to secure the network. |
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I think that most people don't get into gambling because of this reason.
Most gamblers acknowledge the fact that in the long run, gambling is likely going to cost them a lot in terms of being a guaranteed -EV way to spend their funds. They know this full well, yet they still go into the casino time and time again being addicted to the games. Anecdotally, this is true as well given what I've heard from avrious chat rooms.
What does this tell us? Gambling could be not financially driven, but rather, have a similar effect on the brain as drugs. You need your hit, no matter win or lose.
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Nope. And I think this isn't that common due to the fact that ICOs want to achieve their primary goal before anything else - which is to act as a vessle to funnel funds to the founders.
There is no way around that. Having multiple rounds means meaningful roadmaps, and that is the one thing that most scam ICOs absolutely despise.
However, it's not a bad idea at all if community demands this type of structure, whereby you essentially get what you pay for each round. If one round fails, then obviously there won't be a whole lot of demand for the next round of investments.
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I have a 50$ Google Play Balance (aswell as an unused 20$ GC that is locked needing "more info to redeem card") and was wondering if there was anyway to convert that balance into BTC or any form of cash or balance anywhere else. I have looked for hours and my best approach is probably some In app purchase APP that for some reason would help me convert the balance. I originally bought GCs but got an error saying it couldn't be redeemed without more info a common error at Google Play that never gets fixed. I was going to trade these GCs for BTC after weeks for emailing they finally put them in my balance after threatening absurdities....if anyone could help me I would be greatly appreciated and would love to give some sort of money to you for helping if we can get this balance to something I can actually use besides game apps...or books. Or maybe someone would trade my whole account password and everything for an exchange of BTC if they have use for it? All options are welcome...there was a way in 2017 that you could In app Purchase credits on Bitit then exchange credits for BTC. The exchange rate was like 50% but that doesnt matter this balance is useless currency unless its exchanged somehow.
I doubt it. There are folks on paxful that will take google play gift cards at an atrocious rate for BTC, but even then, I doubt that they'll be able to process yours because of the fact that it's not redeemable straight away. As to the balance, you basically have no chance. You can't transfer google play balances nor can you buy subscriptions for others without having to log into their google play store with your account. |
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The concerns that you have raised should be enough to deter anyone from investing in this platform, or on this platform.
The fact that they can't answer basic questions about their team on telegram is the most glaring one, in my opinion, because it shows that they have something to hide. It's likely that their ultimate goals isn't actually to build a good product or fundraising platform but rather to raise funds for themselves and then stop development altogether.
So be careful. I'd suggest not associating with this ecosystem.
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View the purpso ef gambling differently.
Don't look at it as a way to make money, but rather, a way to entertain yourself at a cost. Just like going to any other events, you need to pay a price to be entertained. In gambling, that price is the house edge, which keeps your expected value of bets negative in the long run.
Also, think of the fact that there is no strategy to beat the house. The only strategy that can beat the house assumes an infinite bankroll, which is impossible. I see way too many people on dice chats asking for strats, when they don't help at all. All they can possibly do is make your funds last longer, but at the end of the day it's still -ev.
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as we see trend in last 2-3 days, all markets were positive, prices increased from 10%-300% in 48 hours.
Now the trend is going down. what you guys think? January end BTC can touch 9k usd?
There seems to be still significant resistance at that price level. It's certainly realistic to expect that resistance to be breached very soon, given the fact that the overall trend of the market is still quite bullish and sentiment hasn't deteriorated one bit (in fact, it has been improving substantially). It should be a matter of time. Whether or not it can occur before the end of January begs a different question that is very hard to answer, because with all the pumps that we've seen earlier on in the month, it could very possible and wise to expect a larger scale correction soon before the next rally. |
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But what's so good about a deflationary token?
You can't simply have a coin whose value is solely based on the fact that it is deflationary. Otherwise, I could create one without any utility associated to it, and expect it to skyrocket in value just because supply is contracting all the time.
In fact, deflation is a problem in the sense that it creates price instability.
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We've entered the stage of the market cycle where mainstream media is now hyping BTC up again - a far cry of what has happened in 2018 and the majority of 2019 where the mainstream sentiment indicated extreme bearishness and seemed to revolve around BTC dying or whatnot.
It's honestly nothing out of the ordinary. It just indicates that we're going in for a bullish ride.
Sentiment is one of the best predictors of price action in the medium run.
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What do you think the hottest alts will be this year?
Very interested in getting strong opinions on this.
Why dont you tell us your opinion first? If you are asking this way, everyone will obviously shill their own bags. But yea lets give it a try, my top picks are: 1. Dogecoin 2. Mooncoin 3. Venezuelan Petro 4. PotCoin 5. TrumpCoin 6. PutinCoin and Putin Classic 7. Whoppercoin 8. Unobtanium 9. Cat Coins 10. Useless Ethereum Token Edit: Sorry forgot about: 11. UFOCoin and 12. F*** Token I know this is supposed to be satirical, but I think that Doge actually has a reasonable chance to fare very well during this bull market. Doge and Mona are two of the coins that consistently see 100%+ gains during bull markets, and that has been the case for years on end. I don't know why people are obsessed with these coins but there is demand for them from a speculative point of view, and you can definitely make money off of short term trading these tokens. But that's not to say they have long term potential. Doge hasn't had a single development for a long time, and its team is basically dead. |
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Currently the US dollar is only backed by the government. It is not backed by gold, so I don’t think it will ever be backed by anything else.
That's what I heard. And that currencies are traded like stocks anyway so I guess it's OK to call them "floating". People also point out that this is the reason America remains allies with Saudi Arabia and they help brought down Gaddafi. These countries trade oil for dollars and if that changes then that's going to affect the USD. This makes no sense whatsoever. Perhaps in the near future BTC will become a reserve asset held by the Federal Reserve and other central banks (I doubt in the next 5 years, though). But even then that doesn't mean that USD is backed by BTC. It makes no sense for the government to peg the value of their fiat to BTC, especially from a monetary policy stance. It's like saying gold backs the USD simply because the Fed holds a bit of gold in their reserves. But we know that's obviously false. |
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From what I've heard the public opinion's really against this proposed law, which means that there is significant doubts as to whether or not this can actually pass in the first place.
If this ban comes into place then it might actually hinder local p2p trading volumes in the short run because of the popularity of cash deposits as a method of payment for buying BTC in Australia. ATM limits were already tightening up and I assume this will continue to lower them, probably to the range of $2-5k a day which is nothing to big time, high volume traders.
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No, very rarely.
This is not because people don't want to, but because of the cumbersome protocols that are involved especially with international cases such as ICOs, since most ICOs are incorporated overseas or not regulated by any entity whatsoever.
Also, a lot of the times a scam ICO can't be judged from face value. Perhaps the team simply abandoned development, but there is no proof that they're a scam since there is no legally binding contract saying that they need to further development in the future after ICO is over.
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