We hear in the news that many people in countries that have currency issues are starting to trade in BTC - for example, Venezula.
My friend asked me what about in regions where they lose electricity, how would they trade with BTC?
For example Puerto Rico is right now devastated by the hurricane, and many parts of its region don't have electricity. A lot of people need to buy food and even fresh water.
Is there a way to still trade with BTC in such situations?
Can P2P trade still occur despite having any connection to the greater block-chain network? Keep in mind that it's easy to charge mobile phone so they have access to wallet apps, but probably not the Internet.
I don't know too much about mobile data networks, but I doubt one's 4G/LTE data plan would work in such situations. I assume that data would have to be relayed to a tower/dish before it's sent to satellites. Am I correct?
It is very difficult if that will be the case. Without electricity, makes almost all things in this planet very hard to deal with, example transportation, food production and other important daily activities. |
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Evidently, the market is looking negatively on Bitcoins and altcoins at this moment. However, that trend is about to come to an end. There are a number of great bullish developments:
REGULATORY
+ Positive G20 Financial Summit stance
+ Chinese regulatory posturing to clarify soon, as Deputy Governor of the People's Bank of China (Fan Yifei) noted
+ Lightning Network and SegWit increase legal recognition of digital currencies
+ Seoul Mayor aiming to launch the capital city's own crypto and establish better environment for blockchain startups
INFRASTRUCTURE
+ CBOE support for Bitcoin ETFs
+ T-Mobile tech support for distributed ledgers
+ Coinbase announcing upcoming support for ERC20 tokens
SOCIAL SENTIMENT
+ MailChimp has clarified that its stance against cryptocurrency ads to not include accounts that disseminate crypto-related information
+ Leading analysts (such as Abra CEO Bill Barhydt, Fundrstrat's Thomas Lee) are bullish about the year end target of $25,000 for BTC
+ Major Polish bank will implement a blockchain document storage system
+ Audi has announced that it is exploring the use of blockchain to enhance its distributional network
+ Morgan Stanley releasing a report and commenting that they are expecting BTC to rise, and this is just a temporary slump
ECONOMIC
+ Analysts predict that institutional investors will capitalize on the temporary slump
Yes - the market is volatile, but we all knew that. I don't think there should be a shadow of a doubt that bitcoin will rise again.
Hopefully bloodbath will end. And we will all be blessed these next few days. Let us all be positive for this. Our patience will somehow be paid. |
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I am not sure if I am putting this in the right section. Anyway, what are some of your guys biggest bitcoin losses? Did many people here loss everything with Mtcox? For me it is online casinos. I do have a moderate gambling habit so it was bound to happen.  I am not into gambling. And so far so good. I invested bitcoin and I do gain very small just enough to recover my capital. So I will not call it a loss, though the earning is so small but atleast I gained. |
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I have been interested into economy, stock trading and such. And have begun watching series movies and reading more about it.
I learned what CDOs where, and how they worked. But now the institutions/banks are selling/buying bespoke tranche opportunities, basically same as CDOs just another name.
The dollar is up by a lot, and the stock market has tested the 200 MA 3 times already. Interest rates are near 0% and loan rates are going up faster and faster each year.
Every country I have friends in, are telling me that the inflation is rising, interest rates are going going down and you're basically losing money each year.
What I think is interesting, is that the loan rates were pretty low (close to 0) for 1-2 years and it started to rise.
I think with the rise of Crypto, it's the safe heaven for us, the normal people. I think communities, countries, specific groups of people will make their own currency (and also money) out of thin air, and this is how our societies will function soon. But that doesn't necessarily mean that cash will go away, I think people are attached to cash a lot and it's a different feeling when you have cash.
What do you guys think? All thots are appreciated!
I am optimistic that this second quarter of the year is the start of the recovery of the market. Price will start to grow until the next quarter and it will be at its peak at the fourth quarter. |
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Money is one of the important concepts, This section talks about money from the perspective of microeconomics.when people exchange goods and services without using money, this is called barter. "I'll cook dinner if you'll do the dishes" is an example of barter. Imagine an economy in wich i can sell services as a consultant to banks, but what i want is to buy a new suit. the clothing store that sell suits does not have any use for my services as a banking consultant. i sell consulting services for money, and i buy a suit using money. money serves as a medium of exchange. the bank does not sell suits. how can barter work?
During the earlier days, the ancient people are using barter in their daily living. Gold or other products in exchange for products or goods or even services. And until now we are still using the method. |
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On this occasion, I will tell you how I overcame inflation with the help of cryptocurrencies living in Venezuela
As many know and as many do not, the inflation of the Venezuelan currency is in an inflation of 3000% and increasing. This leads to extreme poverty but that is not what I come to talk about.
I got into the world of cryptocurrencies 2 years ago, and I'm not giving myself many luxuries but considering what you live here, you can call it luxuries. I am not bathing in money but I am not in extreme poverty either, and I thank the world of cryptocurrencies and its positively volatile market.
Crypto currency helps us a lot financially. I know there are lots of people whom were saved by crypto currency most especially when inflation of the coin's values occur. Big profit will be achieved. |
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Everytime the price of bitcoin goes to its lowest is the best time to buy. And wait for its price to go up high and trade them to gain profit. It is as easy as that. |
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Will this prediction by some Crypto Experts that 2018 is a Bull year for Bitcoin To $50k, and with an Overall Market Cap To $1 Trln going to end a truth? Read the text here: https://goo.gl/WzcTrVIn the first quarter of the year, bull run did not happen but I am positive it will start to rise this June. Let us just wait and watch for the signs. We must not get bored in waiting, patience is a virtue. |
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We all have that thought why do Chinese people actually make it in the business world. The reason apparently is that at an early age, their parents are conditioning the minds of their children to do business in the hopes that they will actually be heirs to their family business.
In your opinion, should we be teaching them the same or teaching them to be successful employees for the sake of climbing up the economic ladder?
In my opinion, we will be teaching our children both on how to become a good employee and on how to do business. The two must be teach and it will be dependent on the child as to what he is inclined to or what will interest him. |
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While I don't have many posts. I got involved in Bitcoin in 2013 and joined this forum in 2014. While I do not consider myself wealthy from Bitcoin yet. I do have an idea of how I would like to direct some of this new found wealth. I think most of the people who got involved early got involved for the right reasons. IE: To change the world and move humanity out of the control of the bankers. I am concerned that the new people coming may only be in to make money. I hope I am wrong, I really want this technology to be a force of good in the world and deliver economic freedom to the masses and the unbanked. My hope is everyone who was early, has some idea in mind that will help others. Maybe help your family, or a charity that you think isn't wasting money, or building a community swimming pool etc. If you have a lot of money think big and how you can change the world for the better. This is our chance!
For me, it is just right for those who are gaining big to also help those less fortunate. That is social responsibility. Not to the extent of making them parasite or dependent but helping them to earn amd be independently responsible. |
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I know some of you would wonder what this topic is doing here, in the Economics section, but since it is in fact an economic question with purely utilitarian goals in mind, I think it is where it should be. This is a serious question and I'm not kidding. I'm not very interested in European languages like German or French, or whatever, as I think languages like Chinese and Japanese are more promising and rewarding in terms of both usage and money in the nearest future. Personally, I'm more inclined toward Japanese (that's why I'm not decided yet), though I understand that Chinese may be a better choice for the time being and years to come
So what is your opinion on this matter from an economic point of view, with crypto in mind?
That is what I think so. I do love to learn the Japanese language but for future use we must study the Chinese language. It might be so helpful. But, anyway, we can learn as much language as we want. It is much better if we will learn more languages. |
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Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?
I think yes. Bank are still important today. For as long as we are still using the fiat money bank is still needed. We cannot deny the fact that even though more and more people and countries are accepting bitcoin but the vast population is still using the fiat. All of us are still using it in our daily transactions. |
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My start with crypto/btc was that I invested a bit end of November last year. I had a few friends that told me about their small successes and how easy it was to just 'start'. It was indeed quite easy. I started to read and research into btc and every other relevant coin. Whitepapers, teams and such. Then I started to shift focus to the block chain, starting to get a grasp on what could be the future possibilities. I started to get real exited and invested some of my savings in a few projects with (to me) real potential. None of those projects appeared to be alive because of speculation only, mainly because they have a vision and actual plans.
So then I noticed that there are quite a few documentaries. I started to watch them all. A few from 2015, 2016 and 2017. I was disappointed to say the least. Everything was about bitcoin and the value/worth of bitcoin. It was about highs and lows, crashes and deceit. Only a few times the actual potential of the block chain was mentioned. Mostly it was about money.
Right now I am starting to feel like this is just a way to make money. Nothing more nothing less. You buy into btc or other coins and in no way are you really supporting the project, besides maybe adding to the order books at the exchanges with some minor effect until whales decided to take over. I sometimes have some sort of dishonest feeling, like the money I make through buying (and seldom) selling is somehow dirty as it comes from people that simply do less research, bail out or simply already had their take.
I started with high feelings of morality, being part of some new future where block chain would be the next internet. Right now it feels like a rat race where you have to grab as much money as possible before others take it before you or from you.
Not that I am ungrateful. I like many projects because of the team behind it that actually want to change the world. But if I look around me, it is mostly those that are in it to make money, a lot of money....and this money has to come from somewhere right (those that lose money)...
What is your take on this? Is this all a phase, part of how this game works?
I somehow agree with you. What you did and what you feel about it, for me is just normal. Yes, we can earn a lot in here if we will be so smart to know all about on what we are into. All we need to do is to always keep track of what is happening and which are true and real. Life is a race, let us accept it. But we must bear in mind that we can help others too. |
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Im a US citizen and am still confused with the current crypto tax interpretation. In October of 2017 I traded some litecoin for another crypto. Then in January 2018 the tax bill passed and eliminated the like to like exchanges of crypto.
My interpretation is that since I made the trade before the law changed then I did not create a taxable event. Am I wrong in this interpretation?
I already heard that tax is imposed for crypto currency in some countries but I do not have the idea as to the system or their procedure. But I think if there is no written notice for you maybe it does not matter. |
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I think in government and to improve the economy as you stated above is very good, which I think here is in the application of law, must be added again with a very firm action against corruption, as we all know that corruption that is the main cause of destruction, it must be eliminated until clean, here is my opinion about the economic growth you put forward
It is so true. Those who are in public service must truly serve the country and not using the public to serve oneself. Graft and corruption is the biggest reason why the economic status of a country is still at its lowest. |
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will we now since banks are losing their cartells, end up with a society that is constantly beeing flooded by cryptocurrencies, and more "propaganda coins" that arent worth anything but are even bad for the people as a whole like bitcoin?
regards
I just hope this will not happen. We must be careful in choosing ICOs to support. There are ICOs that promotes the growth of crypto currencies as for the common good. So before supporting an ICO make sure you know all about it, its goal and most of all if we can gain profit from it. |
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Cost of living is something everyone should consider and even more so for those of us who can make our living anywhere in the world, but there is more to life than just cost of living, you also have to consider how happy you will be in a certain place. If we look at the countries with the highest happiness ratings we'll often find that they are also among the happiest countries.
The cost of living is actually affecting a happy state of certain persons in most cases. If people don't have enough of financial stability which will provide the security for a life they also cannot enjoy that same life. Those countries with the high cost of living actually have the higher standards so someone from a different country cannot consider his/her move to that country if he doesn't have the steady work there. Happiness is connected with the financial situation and no one cannot deny that. There are few cases where the rich people are not happy with all their wealth but that are only a few cases where the certain people have low morale and will. You are indeed true! Happiness is most of the time connected with financial situation. We can not deny that. But sometimes people are just too unsatisfied to desire for more, and that makes them suffer. The cost of living always depend on the person's needs and wants. When a person has more wants than needs then of course he is going to have bigger cost of living. But for a person who is just satified with what he has and desires just for what he needs, then he will just have smaller cost of living. |
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There was a kind of 'Black Monday' in the US Stock Exchange. The Dow Jones Index fell 4.60 percent. A daily loss was the strongest drop in Wall Street history with 1,175 points. Panic sales jumped into the world, the Japanese Nike index dropped by 5.5 percent ...
I do not particularly like to give disastrous news, but the crisis is in the doorway ...! The American Stock Exchange has not experienced such a decline for a long time.
Is this situation the signals of the crisis or is this crisis going to be skipped in a short time?
We are all waiting with curiosity ....
I hope this crisis will just pass away. For me, it is just normal to encounter big waves but I know we can still survive. We will just not panic and keep strong in order to decide the right thing. |
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Bitcoin is not anonymous, but, rather, pseudo-anonymous. By now, most Bitcoin veterans know this. Bitcoin is not really anonymous by default. There are generally reasons why bitcoin is sometimes regarded as anonymous: First, unlike bank accounts and most other payment systems, Bitcoin addresses are not tied to the identity of users on a protocol level. Second, transactions are not tied to the identity of users either. As such, anyone can effectively transfer bitcoin from any address to which it controls the (private) keys, to any other address, with no need to reveal any personal information at all. Like physical cash, not even the receiver needs to know the identity of the sender.
I so agree. It can never be anonymous because pseudonym is used. It is also recorded in the ledger, so there can be an evidence too. The only difference is that we can make another profile for us or shall we say we can hide our true self just like wearing a mask. |
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Over the years there have been a lot of crypto-based-based projects where the business owners offer shares in the form of coins they produce with different kinds of promotions including bounty programs, until when will the gift program remain?
There is a time frame per bounty program. Sometimes it will be extended but the bounty manager will tell the bounty campaigners. Different bounty projects have their own period. So it depends on what bounty you are working. |
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