Bitcoin is not a solution here. Zimbabwe is facing this hyper inflation issues since a long time now. They have taken multiple extreme measures to stop the hyper inflation but nothing really worked. In order to arrest the hyper inflation, introducing Bitcoin will help them to stabilize the economy. But the population of Zimbabwe is around 16 million. Bitcoin is not ready to handle the increased volume from these 16 million new users. That might introduce new problem even for the existing users of Bitcoin.

Bitcoin should not be considered as a magic wand for all problems.

There are many digital banks available. Unlike traditional banks, they do not have branches which helps them to keep the operating cost low. Also, they do not require a huge amount of manpower to control the operations which again helps them to keep the expenses lower than traditional banks. That's why they are able to offer more interest rates than their peers.

One thing you always need to check if they have banking license from the central bank of your country or not. If yes, you can go ahead and open an account. Every legal bank is insured by government. So if they land into trouble, the central bank will step in. So the safety of your money is pretty same as the traditional banks in your country.

Well, Switzerland is known as money laundering capital and tax heaven of the world. Their banking systems helped politicians and criminals to safely store billions of dollars since a long time now. So it's just a matter of time before Switzerland accepts cryptocurrency as a legal tender in the country. It's now started in a city as a trial run. If it succeeds, soon it will be everywhere in Switzerland.

Good development for sure! Such kind of things surely brings in much needed cheer and liquidity in the market. But I am still skeptical about the future of Bitcoin as a payment processor. It's slow and expensive. The network is jammed quite often and now with the ordinals madness, it's even more evident. Block size debate needs a serious resolution.   

Not sure about bots but there are exchanges where you can place "limit orders". Which means, you place an order to buy bitcoin at a specific price given by you. If Bitcoin reaches that price, you order will be executed and you will have your bitcoins. You can do your own research on the exchanges as I not going to promote any exchange here. But this is very much possible.

But usually these order come with an expiry. So check about the expiry before you place one. Once an order is expired, you can place a fresh one. Unless the orders are executed, you will not have to pay any brokerages either. So it's a win-win scenario for you.

Coinbase is stock market listed company in US. So as per the local law, they are bound to report everything to IRS and other related departments. So they are doing what is expected.

Secondly, staking is your income. So you must have to pay your taxes as per the local law. That should be seen as a surprise at all. If you aren't sure about these things or not sure about the dollar value to consider, always take professional help. I am sure there are multiple tax law firms available in your country who knows how to deal with such things. Pay your taxes diligently because you wouldn't want regulatory hassles in your life.

truly it is! But I am not sure on the statement that it will eat everything. Nope! Bitcoin can't eat everything. It has its own limitations and challenges. Bitcoin is not fit to replace the current financial system. It can't scale to such a level where it can handle the ever-growing number of transactions. It's expensive and slow. There are far better payment methods available in the market.

Bitcoin is a monster in investment scenario, which can probably eat everything else. because the amount of return it has given in its lifetime, no other asset can compete with it. So when it comes to investment, bitcoin is the king. But Bitcoin will not qualify as a competitor in payment processing race.  

Please understand the concept of demand supply first. When people have disposable income, they tend to spend too much which increases the demand in the market. When demand is increased, the price increases. Now companies making those products try to match the demand by increasing the supply. To increase the supply they need to invest more into manpower and machines. People get more income and they spend more, thus aiding the current spend level which again increases the demand. It's a chain reaction.

The best way to control inflation is to such out the cash from the economy to reduce the purchasing power. This can be done by increasing bank interest rate, by increasing taxes or by cutting down the government spend. Once the excess money is sucked out of the economy, people don't have high disposable income so they tend to control their spend which decreases the demand. It's the same chain reaction again happens in reverse.

Hope this helps!

It sounds like your friend's journey into Bitcoin investment has been quite remarkable and transformative. Starting with just a small amount of investment, she was able to gradually build her portfolio and achieve significant returns, all while managing her household responsibilities.

I want to put more emphasis on the transformation here because we all invest for profit but not all of us are able to make Bitcoin a source of positive transformation in life. This journey serves as an inspiring example of the potential for individuals to achieve financial independence and success through cryptocurrency investment. Consistency is the key! Wish her all the best!

Fun should take the centre stage here. Casinos are not here to make you rich. They are a business organisation and the house always wins. So if you become extremely lucky, you will make money. The reason people go to casinos is to have fun. Problem gambling is a different story. I am referring to the common people like you and I.

While gambling, focus on having fun. For money making, get a job.

No! Sach product does not exist in the banking system of my country. I can see a clear problem in this product. You have mentioned that the money is locked even if the owner dies. Which means the money will remain unclaimed within the banking system. That's a clear problem in this product and probably that is the reason why it has been discontinued.

We can control the amount of money spent from our bank accounts or using plastic cards. But a complete lock is not available.

Once a transaction is recorded in any centralised exchange, it is provided to the tax authorities. It's really doesn't matter whether you close the account or not. In any financial year, the information goes to the tax authority done through all accounts.

Also it's not about forcing. Whenever you open an account with any centralised exchange, you provide your KYC data to them. That is a bare minimum requirement. So there is no way to prevent the information sharing.

Well I see it mostly bad! I don't care if that's the way for Bitcoin to get acknowledgement. because the more acknowledgement it gets, the most regulations and taxes are imposed by various governments. So I honestly think Bitcoin is great as a parallel economy. The moment it tries to become mainstream, companies like Blackrock jumps in and start buying in bulk so that they can control the market. That's not good at all!

People need to understand that Bitcoin is a great innovation. It doesn't require acknowledgement of financial conglomerates or governments. otherwise things will be ruined for commoners like us.

I don't really know what the decentralised E-Commerce means! There has to be a seller who would source the product from someone and sell it through the marketplace. It's not always possible that the manufacturer itself sells the product through such marketplaces. So not sure how would you remove the middle man from this game!

Also e-commerce cannot happen in anonymity. The receiver will have to inform necessary details in order to receive the product. I don't think that decentralized market places can exist.

Please let us know the username with whom you have traded with? Or at least the banking name of that person.

A lot of cyber criminals use P2P channel to siphon out their illegally obtained crypto and trade in fiat money. You have been traded with such kind of criminals without knowing.

let us know the details so that we can be aware as well.

Also, I think it's best to hire a lawyar here. You can get in touch with this person.

https://www.linkedin.com/in/simplykashif/

https://www.bitinning.com/

I hope he can help here!

Addition to Bitcoin core! Hell no!

There's no justification at all. Some people are exploiting a loophole and everyone else is suffering from slower transaction time and expensive fees.

There was a discussion at the Bitcoin Dev team to ban these nuisances. But not sure how far it has reached. Until these are banned completely from the Bitcoin network, there's no other way but to suffer.

You can also try LN for the time being.

I believe cryptos have already become a speculative asset than a currency system. Memecoins are clogging the ETH network and ordinals are doing the same for Bitcoin. Honestly, these needs to banned if we really want to see cryptocurrency being used as a currency.

I think a new kind of consensus system needs to be built within Bitcoin or ETH network. Whenever someone wants to publish a new token coin or NFT, that would need to go through an approval system where 51% of the miners need to approve it. Otherwise, the nuisance of such things will only grow.

If I really want to protect myself from the volatility of the cryptocurrency prices, I would invest in gold. To bypass the volatility of cryptocurrency, why would I choose another crypto? Doesn't make sense!

Stablecoins are great for trading. If you are a regular crypto trader, you can make use of stable coins. But when it comes to avoiding the volatility, investing in Gold is the best option.

If Bitcoin needs to be treated like a currency system, it's going to be the most pathetic currency system I have ever used in my life! It's costly and slow. We are living in an era where money can be transferred from mobile phone by scanning a QR code. It's instant and free. Bitcoin doesn't stand a chance here.

Bitcoin is thriving because it's the best investment option this humanity has ever come accross. If Bitcoin's price stabilizes, half of the crowd will be gone!

Well it's a survival strategy. Every company forecasts business situations based on the ongoing series of events and technologies. SWIFT feels that majority of the big economies will be moved to CBDC within a foreseeable future so they are keeping their platform ready to be used.

It's like predicting the need and then pitch the method of fulfillment when the world needs it.

Well these are small things. US wouldn't allow Russian exchanges and vice versa. That's normal!

These Russian exchanges are mainly active in Russian mainland. Most of their customer base is also from Russia. Not sure why US took the pain to impose sanctions against of foreign local exchange. I don't think that these exchange is will be impacted at all.

Like you rightly pointed out, when one is closed another one pops in with the different name.