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So I really this digital rupee is going to work like digital wallets. You need to link your bank account put money on to that wallet and use it anywhere. That got me thinking, if I have to link my bank account, then why can't I just use upi? I mean what a difference does it make for the individuals?
Usually any government apps work like shit. If you simply compare BHIM during the initial days of upi with what it is now, you will understand. The UI can become better with time, but not the intention!
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Not really sure how Mike Tyson suddenly agreed to such fighting events!! He is 57 years old while Jake is just 27 years old. Mike Tyson can surely blow some punches but a younger person will be more agile. I think the age will become a big factor in this match and probably it is going to be very hard match for Mike Tyson.
Nonetheless, I am sure both Mike and Jake will make a huge amount of money out of this fight regardless of the result.
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USDT is more of a supporting currency to the cryptocurrency market. It is not an investment asset. The main use of USDT is in transactions and cryptocurrency trades. So it's not surprise to see this huge market cap if you compare the overall crypto market cap.
As long as they are audited by an independent auditor, I think how much USDT coins they release in the market, doesn't really matter! The demand is robust and USDT is actually a very useful hedging tool against falling crypto prices.
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Luck place a role while gambling. Everything else is planning, patience and persistence.
If you are buying Bitcoins when the Bull market is ongoing, then you are kind off gambling. But if you are actively checking the markets and investing whenever the price is below the moving average, it's planning.
Does that mean, there's no risk? Obviously not! But in planning, and investor takes calculated risk which has a higher possibility to give you a good profit.
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In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?
Nope! Never! Memecoins are called memecoins for a reason. They have zero utility and usually a kid sitting at their home computer running from the background. That kid is most likely to pull out when the price of that coin reaches a certain level. Bitcoin is the king because of it's global community strength. Unless some other coin can build such network, there's no way it can challenge the dominance of Bitcoin. |
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All stablecoins are anyways centralized. It's just that the issuing companies are not enforcing KYC on their users. But they indeed can start enforcing a strict KYC mandate to its users. But that might become a bottleneck in their usage and many would probably choose to leave stablecoin segment altogether.
But one question still remains - stablecoins can be issued from anywhere in the world. Not sure how the Bank of International settlement is planning to enforce it's regulations onto them.
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. No matter who wins it, it’s Bitcoin that will be on top in the end.
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But it really matters who wins it. If the countries win in this game, it wouldn't really matter to commoners like us whether Bitcoin is at the top or not. Because then we will not be in a position to use it in our favour and the entire system will become centralised. It is definitely not ideal. But countries like United States will continue to play their dirty games. Some Bitcoins they have seized, are from criminals and hackers so those should be fine. But if us is really snatching from the common people, then it's a matter of concern. |
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Bitcoin is the best investment asset if you compare to the traditional investment assets. It has outperformed every single asset classes since it's inception. No doubt about that!
But Bitcoin is only best as an investment, and not as a currency system. If the goal is to invest and only invest, then your crypto portfolio will outperform all other portfolio of yours.
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Does it matter? US still dominates the majority of the international trades. They are still the biggest millitary equipment supplier in the world. They are still ready to attack any country to acquire oil fields. US knows how to maintain the dominance.
So the US dollar is still the leader in the market. They have to still pay for NATO and United Nations. US has been printing astronomical amount of money since COVID. Did it affect their economy to any large extent?
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Bitcoin is not a magic wand which can save the economy of bankrupt countries. Not sure why people are always over estimating about the power of Bitcoin, but in reality it is just a cryptocurrency. It is not built to replace the banks or to save the economy. Bitcoin has thrived as a parallel currency system and I believe that's exactly where Bitcoin shines.
Pakistan economy can be saved only if they choose to bring peace with their neighbours and if they stop supporting terrorism.
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I personally would not trust a politician like Donald Trump. I sometime feel that he is mentally unstable. Also it is very much possible that Trump is trying to lure the crypto community to vote for him. In a federal structure, president doesn't always take the final call in these things.
Also I don't understand what is this positive around stable coin is! It's better to buy the actual reserve currency rather than buying a stable coin. It just doesn't make sense because both fiat and stable coins are centralised.
The government of the European Union and the United States wants to have transactions quicker and lure people into accepting their CBDCs as something good, without considering the risks against privacy and security. I would rather to keep Fiat in the old way, using bills, but in this era of digital enhancements and advances, it was no way for China not to try to implement their Central Bank Issued Digital currency, for the dismay of their citizens. Washington would love to do exactly the same thing, however, the system of checks and balances will make it slower, delaying the appearing of USD backed CBDCs. Trump may be perceived as someone who is against the establishment, but he is not in an ideological position to oppose the federal reserve and the big companies being the effort to completely centralize the monetary system as much as possible, he won't even try to stop it. As soon as those centralized digital currencies start to become mainstream,it will be very obvious we one needs Bitcoin and projects like Monero to continue to thrive within our ecosystem. Let's not deny the fact that the common people will love to transact using CBDC because of it's digitized capability and faster transaction processing time. If you have heard about UPI payment system in India, you will know the benefits of having a digital transaction facility. But yes, privacy concerns will be there. But if people are using their legitimate money, that won't raise any concern. That's why I always say that Bitcoin is the best investment asset, but not a great payment processor. It is slow and expensive. |
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Are investors investing in Bitcoin at ATH now are fools ? Is there chance of major correction from here as prices have already peaked now.
Investors who are investing right now at current ATH, might see loss during a correction. However if they have long term Outlook and they are willing to do cost averageing, their investment should be fine. The best way to invest in Bitcoin is through systematic investment plan. You get into the market at different price points so that you can average out your buying price. Otherwise there will always be risk. No one is stupid when it comes to money. But the investment time and holding time really matters for an asset like Bitcoin. |
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I personally would not trust a politician like Donald Trump. I sometime feel that he is mentally unstable. Also it is very much possible that Trump is trying to lure the crypto community to vote for him. In a federal structure, president doesn't always take the final call in these things.
Also I don't understand what is this positive around stable coin is! It's better to buy the actual reserve currency rather than buying a stable coin. It just doesn't make sense because both fiat and stable coins are centralised.
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So blackrock has started capturing the crypto market as envisaged. When a company with 13 - 14 trillion of asset under management, gets into crypto market, they enter with the intention of controlling it. There is a famous saying about blackrock, that Larry do not want to own asset, he wants to control it.
Most unfortunately in couple of years, blackrock may be controlling the entire crypto market. It definitely won't be a good news for the common people like us.
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There are two types of consequences: if you have money on your bank account they lose their purchasing power because you are subjected to an "implicit tax" because your saving are cut by the increasing in the price level. So you should be able to invest your money in bond or in the Capital market in order to close the gap with the inflation rate.
Obviously investing you can achieve more profits but losses at the same time, due the equation more yield and more risks.
If you want an advice you can just think to invest your money in bond because Central Banks will decrease interest rates in the long run because inflation is falling sharply.
There are multiple ways to beat the inflation. I won't go into that but I will rather tell you how you can beat inflation. If you are considering only real world assets excluding cryptocurrency, then you should be choosing stock market and gold. In stock market try choosing either small cap or midcap or a mix of those. Historically these stocks have shown immense growth. But I can't deny that a risk factor is also there. On the other hand gold extreme resilience against the financial ups and downs. If you want capital protection along with growth, you should choose a fair percentage of your portfolio in gold. Avoid any kind of bank deposits. |
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I have read several posts encouraging people to hold their bitcoin for the greater good of bitcoin and probably more reward in the future. I have also been able to buy some for myself and also holding. But there is this concern that usually pop up in my head anytime I am meditating and that is what will happen if everyone is holding their bitcoin and no one is willing to sell. This can possibly happen in the future when mining reward becomes too small. I know some people will say that miners will continue to mine and sell to sustain their business but when there is reduced selling, will mining still be a profitable business?
If this question appear dumb, please pardon me, I just need clarifications.
To begin with, miners are not entirely dependent on the block reward, but they receive the transaction fees from the network. Now you need to understand why people want to hold their Bitcoins. The answer is within its historical price increase. People who have joined the community a couple of years back, they have already seen an astronomical amount of profit which no other asset can provide. So they are more inclined towards holding. Personally I am one of them. Secondly, I think the current transaction fees is also discouraging people from using Bitcoin. So instead of making small transactions, people are waiting for their goals to be reached so that they can make one big transaction and take out the profits. |
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I see the potential for Bitcoin and am working on projects to help with the original mission - financial freedom for individuals world wide.
I am not going to give up on the dream! Are you?
Bitcoin was created to provide financial freedom - that's true! But do you disagree to the fact that it has it's disadvantages as well? It can't scale up to handle the volume of transactions required for global adoption. LN solved the problem to a certain extent but the reach of LN is still low and it's a sidechain. A lot of Bitcoin puritans may oppose my comments, but Bitcoin is a bad payment method if we compare to the traditional payment methods we have available in the market. Bitcoin is a great investment asset which has outperformed every other investment asset in the market. But as a payment processor, we have better options available. |
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Bitmex closed my account, won't let me withdraw money. Even though I've emailed them many times, they just say, we can't provide information. He stole 1.68 btc. If there was any fraud or I didn't follow the rules, they should make it clear.
I have been using this exchange for sometime now, I do not think they are bad exchange. Did you email the exchange customer support? What do they say that caused them to block your account? The reason I just do not like the exchange is because that it has few coins and not supporting many chains. Yes, I sent an email and asked why. They don't answer; ‘ Hello, We had previously reviewed your account and regret to inform you a decision was taken to close your account due to breaches of our Terms of Service. This decision is final, and we are unable to disclose any further details related to this decision. Your account will remain disabled and you will not be able to create other accounts in the future. Best regards,’ I don't know what to do. It won't let me withdraw 1.68 btc. This is a big Red flag! If an exchange is disabling your account because their own terms and conditions have been violated, they must let you know the reason. If they are not doing it, then it's a Red flag. Now the issue here is that you cannot do anything using your local legal enforcement authority. If you have all documented proof, go ahead and open a thread in the scam acquisition section of this forum, https://bitcointalk.org/index.php?board=83.0But Bitmex is an old exchange. So really not sure why they have closed your account and seized the funds. |
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In an effort to measure the purchasing power of bitcoin, I suggest bitcoin community members make an effort to exchange bitcoins for big macs on at least a monthly basis. We will then have early data when The Economist invites bitcoin to join their "Big Mac Index". http://en.wikipedia.org/wiki/Big_Mac_IndexIt's really great to see how much Bitcoin has changed over the last 13 years. In 2010, people were still uncertain about the future of Bitcoin. Bitcoin's price during most of 2010 remained below 1 USD. Right now we are looking at 57k USD. In 2010, people tried to find a way to make Bitcoin useful. Now, we are discussing about how BlackRock's bitcoin ETF will manipulate the market. Time flew and we grew older along with Bitcoin. In terms of return, Bitcoin outpaced every single asset classes in the world. That's a win! |
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So if the military industrial complex collapses due to currency issues then the host nation of that currency will be like sitting ducks to other nations looking to invade it without facing defence resistance. So from here can we say that the US Government will do whatever it takes to save its $US dollar currency and the $US dollar will continue doing fine for many decades to come and if that's the case then how Bitcoin can shine in times like this when it is facing the US Government & the Feds Manipulation?
While a collapse or devaluation of the US dollar could have significant ramifications for the military and global stability, governments have tools and mechanisms to mitigate the impact and stabilize their currencies. Please do not forget that USD is still the most used currency in international trades and US is still the largest economy in this planet. Most importantly, they have the strongest military (both in terms of manpower and technology) on planet earth. So what you are saying, could take centuries to happen unless another significant power suddenly rise up who really has the ability to overpower the current world order. It's easier said than done. I don't see any role for Bitcoin in this entire situation. Bitcoin is an internet based currency system with no/very little role to play in geo-politics. Bitcoin is not meant for mass adoption. It's a parallel economy and let it thrive as a parallel economy only! |
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