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Haven't they already passed regulations on it? Making the exchanges have "bitlicense"?, if so what are the implications on the currently passed laws.
I do admire their actions though. It's true cryptos are poorly understood. They have pros and cons. It's better to keep observing it than to dismiss it in a snap.
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Did you notice that BTC fees are very, very low? To send some money from ledger and paid only 10 cents for fees! It was few dollars just 4-5 weeks ago. This is great for whole community. Here are you few links where you can check current transaction fees: 1) Almost all time low: https://blockchain.info/charts/transaction-fees?timespan=all2) This is maybe even better chart: https://blockchain.info/charts/transaction-fees-usd?timespan=allWhat could be the reason for this? Lighting Network is not reason because it is still in test phase and once it get implemented we will be able to send huge money for few cents and it will be crypto paradise! In my opinion, the main reason is Segwit. Few days ago we got info from Coinbase that they are going to start using Segwit. It looks like others did the same. At the moment, we have very strong BTC. Very low fees, I will check speed of transactions but even with slow transactions it is better then it was few days/weeks/months ago. Source: Hero Pumps telegram group What do you think? Any other reasons for this less fee? Some said that the fees became lower because less people are using it, maybe the fees are getting higher because there are many people using it and miners had a hard time doing transactions. I agree. I think the value of the transaction fees reflects more on the traffic. Maybe it's because most people are holding? However, the prices has been slightly increasing, so evidently, the current traffic is enough to move its value. |
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The fundamental price bitcoin falls upon is solution to modern banking.
Arguments such as " There Is Rampant Fraud In Cryptocurrency" and "There Is Rampant Market Manipulation In Cryptocurrency" can be said the same to fiat.
Now i do agree with the last point "Institutional Investors Are Staying Away" but that could change anytime soon when the technology and people are ready for it.
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Current evidence suggests it will. It's the most popular with the most value. It has the strongest technology so far (debatable by some). Probably, the only threat it faces right now are whales strong enough to crash the economy. If that happens, two things could unfold, it recovers slowly or people lose faith in it completely. How BTC is distributed is worrisome.
Additionally, on the technological side, the core developers could screw up and crash the whole thing but im optimistic that wouldnt happen.
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It's hard to speculate the correlation between the Dow Jones and BTC. History suggests that it's more random than related. I guess, that's because BTC isnt seen as an asset as other people. It thrives differently than any other stock. However, im optimistic that BTC will continue to move upwards.
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Rich get richer, yes. Most societies are run in this way. I'm from the UK, and the "Prime Minister" is essentially the CEO of UK PLC. The country is run like a business, even the national health service is being moved into private hands, so that the rich can asset strip and provide the bare minimum of service whilst paying huge dividends to their friends. Everything is geared towards making sure that the rich keep their wealth. Even taxes are optional if you are rich enough.
This is why bitcoin is so important.
This is one of the bitter truth that in our society, the richer is getting richer while the one who is poor is getting even poorer. The fact is this is not the justice as everyone has equal rights of having some good living by making more money, thus getting a chance of changing his life in some manner. Everyone is allowed to make more money using his own skillset and personal efforts. Yes it’s true, and it happens all the time. They can even take advantage of the poor on the society to make themselves more rich than they are. Some poor people who invest in Bitcoin even end up losing their money cause the rich people always invest big money and also withdraw huge sum of money that turns everything upside down.But if you’re very smart and does everything at the right time, you won’t have to suffer this nonsense being caused by the so called big whales. The system is rigged to reflect the needs of the wealthy, because they own all the influence. In a capitalist society today, working 8 hours a day isnt enough to get by if you're earning minimum wage. And that's why we have payday loans that literally preys on the poor for the benefit of the rich. The poor are allowed to participate in ICOs but they're not equipped with equal opportunities to do so. |
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The effect of crypto currency on individual country basis does not worth any attention a look at this analogy. The total crypto market capitalization is about $473,609,873,031 taking a United States as a country with a population of 323,000,000 breaking that down on the average to the whole population you will get $1,466.28 per individual. How do you expect that to then have effect on the economy of a country. If the argument is that the population of US is so high then we should consider dividing the entire market capitalization by the over 197 countries of the world.
The fact is crypto currencies are still emerging currencies in the world financials but all of the campaigns against it is because the future which agencies and government knows if it goes unabated might spell doom for the traditional market.
You cant use the entire population of the united states as basis for comparison. Because wealth isnt exactly distributed and utilized equally. Thus, it could have concentrated impact on certain countries. For instance, exchanges and mining firms offer employment. Additionally presence of such stimulate technological goverment in the country. It could get more people interested as they are exposed. |
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In it's current state, no. You are right, bitcoin does provide an alternative to something the government provides and that's the monetary system. This is the dream. Decentralized monetary system in which everyone has equal influence. But that's it-- a dream. In reality the technology is not allowing it to progress to that. Although, it's a good start. Nothing disruptive happens overnight. This is a slow process. Maybe in the future it will be anti goverment.
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Im not sure if it's a fact that "less people are interested in investing". It's hard to tell if more people are invest or not. In my experience, most people i meet do both. But hey, in general, people prefer having stable income than risking investment. So maybe that's why? it just makes more sense to be safe.
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Looks like something that would do more harm than good. The good thing about multiple currency is independent regulations. Regulation is not a one size fits all kind of thing. It works for the EU because they're relatively similar with similar needs. They're neighbors. Additionally, the governing body of this centralized banking institution is obviously going to be more biased to rich countries with more influence. Potentially, third world countries will be neglected.
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"AI" isnt magical. It's basically linear algebra and some statistics. "AI" is very good at pattern detection, even better than humans because they're much quicker at solving math problems. But really, they lack common sense. In the end of the day, it doesnt "understand". It only gives you the impression it does because programmers designed them to be that way. ie, Cortana, Siri,,etc.
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I dont think it will be much of an impact. Especially since, all the recently regulations in Asia have put btc in bad light. Besides, if there's going to be a a massive change in price it would have happened already during the start of feb. I could be wrong though, in the end there's really too much factor to tell  |
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Doesnt it seem rather limited? since there are only 6 available currencies? I would think a USD bank account would be more useful, based on my experience traveling. Since anywhere you go, you could automatically convert USD to the local currency.
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You're right i think mass adoption does help. However, BTC survived for so long now without mass adoption. So why would it die? Is there something that changed that im not aware of?
Mass adoption is great, but to be honest, i dont think it's the current state of BTC is ready for it. I think slow adoption is best. Let the adoption grow as fast the the technological growth.
I completely agree with the "hello blochain" part though. I really think it would help lots of industries.
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It's hard to put a number to it since there are too many factors to consider. First we have the technological side. Behind the scene, bitcoin is a piece of software that runs on hardware. As hardware advances will it be able to keep up? Second is government regulation. Will there be a regulation enough to kill bitcoin? It doesnt have to target each user, it only has to target miners. Third is scalability. Will there be a point where the blockchain can no longer support the population using it?
You're right to say that a country can have vast impact on btc, but really what do they have to gain if they kill it? Plus it will take more than a country to kill it. If China cant do it, then it's hard to tell what can.
But really, all those things arent likely to happen anytime soon. So i guess, bitcoin is here to stay for a long time.
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Kinda sounds like pyramid scheme if you put it that way. Popularity does have a huge impact. But popularity enough isnt enough to keep the prices high. You dont just want new people to buy it, but you want all the people to continue buying it. In the end, i think what makes bitcoin prices relevant is its technology. As long as there is a problem that persists and bitcoin solves that problem then there's no need to worry about popularity, as it will come with it.
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Considering, that bitcoin users are only a small part of the population, i dont think it will make a significant impact. Of course this is under the assumption that we're speaking of a regular country who has a fairly strong fiat currency. But i think, in the long long looong run, it could affect the country negatively. If they suppress the growth of bitcoin in their country, they could also be potentially hindering technological development. If blockchain is truly the future, then they'll leave their cyberspace infrastructures exposed.
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well besides luck, he's somewhat special. He bought his first bitcoin at the age of 12. What 12 year old boy is interested in investment? Of course this is with the assumption that he acted on his own. But even if it were his parents influencing him, it's still pretty impressive, especially since he continued to grow his btc.
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They're not all negative. The media tends to overreact and that's because exaggeration sells. When bitcoin was at its peak, they were running stories on where your 100$ bill would be if you invested a year ago. Additionally public opinion is still divided whether it's a scam or not. Lots of experts claim it's a bubble and there are also lots who believe in its value. However, right now especially when most regulations are being drafted, it's in a bad light.
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A small number of people hold a large % of coins.
A small number of pools control the hashing power.
A small number of manufacturers control ASIC manufacture.
A small number of exchanges control price (through bots and price fixing in my opinion)
True. But the same is true with mainstream currency. Thus, we have banks that are "too big to fail" and "too big to jail". They are untouchable. But most problems with bitcoin can be solved by science. The blockchain is growing and everyday few few hashing power can handle it. But there are still manufacturers out there, that are working to make hardware cheaper. Lastly, bitcoin isnt even at mainstream adoption. Whatever problem we are facing now, there is still hope. |
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