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Although Bitcoin has a potential of replacing these intermediaries called banks, but this will probably never happen. We are already seeing the attitude of many governments towards cryptocurrencies, which is not positive. Government exercises its power and control on financial system through banks, so they will never let that happen. Bank may adopt the blockchain technology working behind Bitcoin, instead.
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The biggest improvement that I would want in Bitcoin community is the elimination of spammers and cheaters once and for all as they are sabotaging the success of such a wonderful technology. Also, people should stop spreading and listening fake news regarding crypto market.
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There are many benefits of coindelta. It is multi currency exchange platform which means that you can buy many other currencies in addition to Bitcoins which are Ethereum, ripple, OmiseGo, Litecoin and Qtum. The trading fee is also very less. There is 24*7 live support available to assist you with any issue you might face.
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The price of all the currencies is determined by its demand and supply. As the Bitcoin was the first digital currency, its demand was high which made it expensive. Although now days the price is falling, it will again rise when the people will become more aware regarding its usages. Also, the total supply of Bitcoin is limited to 21 million which further adds to its price.
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Under current regulations or what they call 'fatwa', even though bitcoin is considered the currency of the future and part of technological development, bitcoin cannot be separated from one of the elements that can make it forbidden to use. The element is uncertainty. Bitcoin is considered to have this element because the price is so volatile that people like gambling when buying and selling bitcoins, and gambling was forbidden for muslims. how do you think about this?
I don’t know about any such thing. But what I know is that many Muslims are trading in Bitcoins. Bitcoin is for everyone. Coming to the gambling part, yes Bitcoin have the element of uncertainty, but the securities market (share, debentures, etc.) also have this feature of uncertainty. So, is securities market also forbidden for them? Uncertainty is the key element of trading. This does not mean that it should not be done because the feature relates to gambling. Don’t over think! |
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I would completely agree to this. Patience is very important if you want to earn profits from the crypto market. This is the main reason why people are losing money now days. But sometimes what happens is that some investors cannot see their returns dropping. So it is not for the investors who are interested in short-term gains.
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China has an unfriendly attitude to cryptocurrencies because it is decentralized, which means it will be regulated and controlled by the public only. This goes against its communist idea. Not to forget that China has also banned Facebook, Google, Yahoo, etc. So banning cryptocurrencies by China was not surprising for me at all.
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If you want to earn substantial profits by investing in Bitcoin, then you should invest in it for long term. But I guess people now days don’t have patience, which is why they are sustaining losses. But they should realize that no one can become rich in just a week. So have patience and don’t panic when you see the price falling.
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Yes the news is true. RBI has banned cryptocurrencies implying that the commercial banks cannot carry out any transactions in crypto assets. But this does not means that it is an end of Bitcoin in India. The people of India can still trade in Bitcoin. RBI cannot stop decentralized exchange from offering Bitcoin in India.
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are you aware of this? I entered and immersed 2 ICO. is it because btc is in the swamp? why so many these days?
The only answer to your question is that, people now days are not ready to work hard to financially secure their lives. So when they see easy way for getting huge amount of money like scams, they become willing to cheat the people. And the fact that crypto market is not regulated by any authority further encourages them to do scams. |
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So yeah i can see there are many projects sprouting around and it's hard to check so many, a lot of them are probably straight up scams.
So my question is, what's your favorite/most promising decentralized exchange so far? I've seen cryptobridge and something like DAG mentioned which is scalable and has big potential, does maybe someone know anything else about it? I will be reading the whitepaper tomorrow.
In my opinion, Waves DEX is the most promising decentralized exchange available to the traders. It provides you the advantages of a centralized exchange with no risks. Security and privacy is also ensured. |
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That’s completely fake news. India did not ban Bitcoin. It’s just that the central bank has asked the commercial banks not to deal in any crypto assets. So you could say that banks have banned Bitcoin, but not government. And why people are ignoring the fact that cryptocurrencies are decentralized, it does not need the approval of any authority to operate.
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The obvious reasons for the declining stage of Bitcoin are that the governments are holding a negative view about this cryptocurrency. Some say that they will be banning Bitcoin; however no country has still banned it except China. But the fear of this thing is enough to cause the users to sell their currency. Also, the price of Bitcoin is quite high for a common man to afford. But this is just a natural phase, which will soon be over.
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Yes, now it is possible for an existing company for raising funds through ICO. There are already many companies which are raising the additional capital through ICOs. These type of projects are called the new generation of Token Sales or ICO 2.0. So if your business has an ecosystem that can be tokenized, you can launch ICOs.
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There are many rumors spreading like these in the market. But I don’t think so this will happen because banning Bitcoin is not a small step. As there are so many people investing and having faith in Bitcoin, it won’t be easy for the government to ban it. Yes they can try to add some regulations regarding it to minimize frauds.
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Initial Coin Offering is an unregulated means by which funds are raised for a new cryptocurrency venture. It is used by startups to raise funds directly from public, therefore bypassing the rigorous capital-raising process required by venture capitalists and banks. For investing in an ICO, open an exchange account then open your wallet to participate in ICO. Then you follow the ICO instructions as almost all ICOs provide a step-by step guide to invest in their ICO. But before investing, do check the project’s official website, its blogs and social channels, read the whitepaper carefully, and examine the developing team.
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The lack of financial education in general is a worrying problem. We teach students about literature, maths, science, ... and we tell them that those are the things they need to know in life. Yet usually, the largest single expense they will have on their lives is a house, and that normally comes with a mortgage. Yet, only a few schools will tell them what should they be expecting, the risks and the consequences of such a contract.
Bitcoin and alts is another case in which people are carefully kept in ignorance by the governments and lobbies.
What can we do to make more people interested in economy and finance and to better educate the youth so that they don´t get ripped-off?
I totally agree with on this that there is lack of financial education among the students. As students we are not taught anything related finances, that is, how to manage them, how to invest them, etc. but when we grew up we really feel lack of such knowledge. But I do not think so we can do anything in this regard; expect parents can teach their own kids regarding finances, because we cannot interfere in the education system of the country. These subjects are covered in commerce or economics stream. So it is a matter of individual’s preference that whether they want to specialize in that field or opt for sciences and then employ such persons who are specialized in financial sector. |
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I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years". Is he a hater of bitcoin? while other big names appreciate the bitcoin. Your thoughts? I don’t think so he said anything wrong in this. It’s true that Bitcoin is not a currency; rather it is a digital asset. The transaction time, energy inefficiencies in Bitcoin mining are some of the major challenges that prevent Bitcoin from becoming a currency. And Bitcoin will definitely be alive after 20 years, as it has already proved its potential. |
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