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People who really need it for work or something important will just use a VPN or tor. Imo problems with payments will be far more concerning. Lots of employers would rather find a new worker than consider paying in crypto.
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I still believe that bitcoin will one day be digital gold in a sense that it will be a safe haven asset, but it might take us a decade or two to get there. It needs to be regulated in most countries, because regulatory uncertainty is a major factor for viewing bitcoin as a risk asset.
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Did you miss the part where tons of companies voluntarily decided to cut ties with Russia? Bitcoin won't help in situation like that. And it's not needed or practical for trading with China or India. They could use it as a reserve asset, but gold has proven itself to be better.
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Situation is changing very fast, there are rumors that putin plans to turn Russia into a North Korea style dictatorship. If that happens, I don't think crypto will be legal in Russia, despite the most recent legislation.
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Even if you imagine the most stupid scenario where Russia annexes all of Ukraine tomorrow, the damage from sanctions is many times greater than the total worth of Ukraine's resources. Also raw resources aren't worth that much, look at Japan that has nothing and yet it's one of the richest countries in the world.
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If Russia will officially adopt Bitcoin, it would mean that Bitcoin will come under scrutiny in the West, chainanalysis and kyc will get ramped up, but I hope that it won't be banned, because the world saw that it can be used for good.
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One of the goals of sanctions is to weaken Russian military, so in the long run it could force Russia to stop this war. But this process could take years, like the Afghan war.
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Ofc it will survive, but it will return to the levels of Soviet Union, these sanctions are the new Iron Curtain, Russian people won't enjoy western goods for a long time.
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Its quite childlike of us to debate about whether Putin knows the cost of aggression or not. Here's a former KGB agent who has served as the head of state for one of the most powerful and unpredictable states of the world. That too in a time of falling from glory. That man definitely knows what he wants to do. Right now, it was bullying Zelinsky into giving up on his ambitions to make Ukraine join NATO. Who thinks this wouldn't hurt the ego?
This war is a powerful man's reaction to being miffed by a smaller nation. That too in the belief that they don't want NATO at their doorstep. War is terrible but I do hope that world's people and twitterati would have the same reaction for all the other wars that have been inflicted by the so-called "democracies" for the last over two decades.
Its amazing how the cold war perceptions still live on after three decades.
Your don't need to be an expert to understand that Russia will get zero benefits from this war. Giant economic loss, international isolation, no military benefits even if they succeed. Even domestically it looks bad, as people protest. |
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I hope that bitcoin will get good.PR from this conflict e.g. crypto being used to help Ukraine, refugees etc.; and not bad PR, like Russian oligarchs using it to avoid sanctions and fuel war.
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I think there is some risk that if Russia will try to adopt bitcoin on a large scale, it would result in serious regulation or even ban in the western countries. The situation is very hot right now, so let's hope Bitcoin won't get caught in a crossfire.
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Another proof that Bitcoin is not a short-term safe haven but a risk asset that correlates with the stock market and global economy. Hopefully one day it will mature and will be a digital gold when it comes to hard times, because it has other really important properties for that use case, like transportability, anti-inflation and censorship resistance.
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Of what use is it, having your money starched in traditional banks?
Bitcoin is volatile, fiat currency - especially if it belongs to an economically strong country, is much less likely to have large and quick drops. Not every use case allows hodling for years without touching your money. Also Bitcoin is still considered an experiment, and there's no good way to predict its future. Just because it was going up doesn't mean it will be going up forever. Putting all your money into Bitcoin is unwise. So having some money in traditional banks is going to be a good decision for a long-long time. Having money in bank and using a payment card is way more practical than spending lots of time and effort for trying to pay with Bitcoin in real life. |
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I would add a few things:
1. Improve your English - before submitting your post, read it and compare to how native speakers write their posts. If something feels off, try to change your wording. Little by little your English will be improving if you will be putting a conscious effort to write more like native speakers.
2. Develop your own opinions. Don't post that you believe in blockchain technology for the hundredth time. Challenge opinions of other users and provide arguments.
3. Back your posts with facts. Posting your opinions and beliefs is easy, but basing your posts on facts requires knowledge on the subject. So studying economics, cryptography, politics, history and many other things and sharing your knowledge will make your posts stand out in the ocean of spam.
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TBH the crash wasn't that big, and Bitcoin has been in bearish market for quite a long period of time already, so it doesn't take too much negative news to push it down. Unfortunately, this demonstrates that Bitcoin is not fully "digital gold" yet - the actual gold rallied, while stocks have fallen. Investors don't like holding risky assets at uncertain times. Basically, we're still in the early days of adoption. Which means that more of the volatility is ahead.
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- As a new member, how long do I have to wait to gain the trust of the members of the forum ?
If you mean getting trust score under your username, there's no rank requirement for that. You just need to complete trades with trusted users and get positive feedback from them, which they aren't actually obligated to give even if the trade went silky smooth. Users could also give you positive feedback for other things, like being a helpful and useful forum member, exposing scams, etc. Two things to note - do not under any circumstances try to buy trust score or try to make trades with the sole purpose of getting trust score. That's an immediate red flag of scamming behavior. |
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1. A lot of altcoin volume is concentrated in BTC pairs or alt pairs, so their USD price sort of gets automatically updated to mimic BTC movement
2. Bitcoin is the leader of crypto sphere. It's the most popular coin, the most developed coin, the most adopted coin, it has the largest marketcap. It represents cryptocurrency technology as a whole.
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i do not think anybody memorizes their seed phrase as it was not formed by them and will be hard to remember.
Some people do memorize the randomly generated seeds, it's entirely possible. It's just not a good idea in general to rely on your memory, it can fail in the long run. You can keep your seed in memory for weeks or months, and then suddenly realize that you forgot a large part of it when you try to repeat it. The best way to protect your seed is create many backups, both physical and digital (USB sticks, CD, SD cards, etc.) and have multiple trusted places for storing them. |
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These decentralized exchanges still use banks and other payment systems for the fiat side. And these systems closely monitor any transactions that they may deem suspicious, and there can be lots of factors for deciding if a transaction is suspicious or not. Sending large transactions or having large transaction volume in short time is very likely to raise suspicions, but even smaller amounts can trigger this. So, if the government can identify certain individuals and order financial services to monitor and block their transactions, then even using decentralized exchanges will not be enough. Only direct transfers of Bitcoin or bitcoin for cash transactions will be truly secure (barring the risks of physical transactions, of course).
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But to understand Bitcoin you need a very basic understanding of modern cryptography. The properties and purpose of hash functions, public key cryptography, symmetric cryptography, measuring bits of security and so on. This can even save you from some newbie mistakes like creating your own unsecure brainwallets.
You're true! I know Bitcoin is secured with cryptography but I don't know anything about you mentioned above lol, I only know it's encrypt and decrypt with a key, well seems I need to understand it first before jump to the technical thing. Thanks anyway. I can recommend cryptography videos from the Computerphile Youtube channel: SHA: Secure Hashing AlgorithmWhat are Digital Signatures?Also a book Cryptography: An Introduction by Nigel Smart - free PDF And if you're familiar with any programming language, you can also download any cryptography library for it and have some practice with cryptographic functions. |
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