|
If your government has high yield bonds insured by govt that's as safe as it gets. In Malaysia a fixed deposit with employee provident fund (equivalent of worker social security) is guaranteed a min of 2.5% p.a.
At rates since 1960, which has been above 5%, counted monthly and daily, any deposit with compounding interest would have doubled in 7 years tops.
It has been criticised by some as regulated ponzi but I suppose that's as solid a backing as you can hope to get.
|
|
|
|
|
I think kids can grow into crypto after they've understood basic principles of money and value of goods... but it would be interesting to have a resource centre on crypto éducation targeted at perhaps young adults.
Maybe computer science syllabus has already included it as it has already become an important milestone in computing.
|
|
|
|
|
I would tend to side with HugoStone's very broad view of the illusion/perception of bitcoin or any other "currency" of value, for that matter.
For me it's simple to illustrate. I would give almost anyone in this forum 1 BTC (at today's USD 740+ price), either through a send or just hand over wallet keys and he/she would be very happy to only give me USD100 in fiat.
But I could throw 100 BTC at my dad and he would call me a scammer if I asked for even USD1 in fiat for it.
The illusion that bitcoin has value works for those who choose to live in that illussion. It doesn't for those who don't.
|
|
|
|
|
Hey OP!
Any chance to read a webpage or forum thread with detailed information about your fund before it starts next year? Telegram and social media are a little out of reach for some people (okay, just for me).
Besides, a little page or two might be easy for anyone with curious questions.
|
|
|
|
Voted NO. No sourse of passive income unfortunately. Only what I earn every day is my income. O wait! Bitcoin! Since Bitcoin is rising in price it is a sourse of passive income. So yeah, actually I have one. This is not much, just a little bit over 1 coin, but still. I like I have it.
It can be a good source of passive income if you will just simply invest into some good casino's like bitvest. This will give you a continuous profit and in the long run you will make a decent one just like what you are doing by holding. So, if you will add those two type of investment then that can give you a passive income and just keep doing the cycle. I don't understand how you can make a passive income when you invest in casino website like Bitvest. Normally in the gambling world, you lose money in the long run instead of making money from it. I prefer to say is better to say that you make a profit when the price of Bitcoin is raising. Casino investments just mean that you invest your money to be used as part of the casino's bankroll. You're absolutely right that you lose money gambling in the long term because of what is called the "house edge". Every casino (or house) has a slight edge that ensures that they will win more times than you. In the long run, this means the casino will eventually "win". That's how the gambling industry thrives. What's more, players gamble with emotion and casinos are mindless mathematicians. So a long-term investment in a casino's bankroll should theoretically put you in profit. The risk of losing money applies, just as it does to any investment. |
|
|
|
China operates a giant firewall and draconian rules of what you can and cant do with government permission. Its not 100% required that government allows it but it makes it alot easier if they dont stop its normal progress.
Plenty of people in the world do not have computers and internet or reliable electric supply. Sometimes the city growth out strips the supply of power so it becomes common to have no way to keep upto date with the blockchain. Thats not a 3rd world scenario just a developing world situation which is billions of people.
If bitcoin were pliable enough to still be useful to such people who also suffer from poor access to finance especially inexpensive services then you will find the network to be part of some of the fastest growth in the world
This is one of the most important things to consider when asking if blockchain technology can assist the 80% or so of the world that has 20% or so of the world's wealth. Until bitcoin becomes more accessible and as you say pliable, the network will still be dominated by those who need it the least. A great example is to look at the only ones profiting now from mining. I have read about startups and initiatives using blockchain for solutions in the developing world, but have yet to see any actual progress. It's disheartening at times to see how farther and farther the tech gap is widening. |
|
|
|
|
Why can't bitcoin be both? Blockchain says that it is currency so we should accept that definition, while the definition of property allows for bitcoin to be seen as such. We're all here after all because we own a little bit of bitcoin or some other crypto, and surely we see it as such the way we view property.
How governments will classify them in time to come will only determine bitcoin's legal implications, not it practical ones.
|
|
|
|
|
Read this thread from another thread with great interest.
I saw that monbux was supposed to try out the service, but so far he has no comment other than accepting to provide e-scrow? Could we ask for monbux for his thoughts now coming to 3 weeks of the service?
Also OP, how many paying members do you have so far? Hoping to test you out, but likely only able to try in January due to lack of funds!
|
|
|
|
|
One thinks that digital currency should be backed by something physical, but if fiat money isn't then why should this rule apply to digital?
In any case, we've seen recent examples of how national fiat can just crumble and collapse almost overnight through hyper-inflation. The most spectacular in my mind was the Zim dollar, and most recently the South Sudanese pound.
As highlighted, there's no real long-term precedent of a national digital currency to understand its implications and consequences so we should all back Sweden to start so we can learn from them.
|
|
|
|
|
I've got mixed feelings about this. On one hand, it's certainly good to see the non-profit (okay, I know this is the UN but nevertheless) view blockchain as another possible solution for the developing world. On the other, these types of tech are hardly accessible to those it aims to benefit, unless of course, the benefits of this blockchain startup are meant to go to UNICEF administration.
|
|
|
|
|
It was only a matter of time as Republic of Korea is usually on the pace when it comes to financial tech. South Koreans have been able to buy bitcoin at 7-11 for over a year now and one of its biggest banks offers remittance backed by BTC.
I'm waiting for a Southeast Asian nation (possibly Singapore first, I'd guess) to start moves on regulating crypto.
Off the point, why is Dubai in the headline when the summary is about (South) Korea?
|
|
|
|
|
I think the consensus here seems to be that if crypto isn't considered illegal, then what you're suggesting can't be seen as money laundering. It shouldn't matter if it's fiat, crypto or other form of e currency - as long as you're not using for illegal purposes, and are not evading tax (as opposed to optimising or tax avoidance which are perfectly legal), then you have no cause for worry.
|
|
|
|
|
If your gramps has a pension or regular income, bitwage is also an option to automatically get a portion of bitcoin from wages or even pension. It does require setting up but they are happy to help. It's perhaps easier than buying crypto with fiat, and he then only has to learn how to send from his wallet.
Very interesting sub topic on how to make crypto more accessible to sub groups.
|
|
|
|
|
We can only speculate as to the state of bitcoin in two decades... already so much has happened over the paat 5 years that even its early adopters could not foresee.
Perhaps cryptocurrency has a long way to go and the teething problems in its current infancy will shape how we view currency in 2036. We may be one of the old farts who ask "remember bitcoin?".
|
|
|
|
|
The question is slightly erroneous because any investment online carries the same integrity (or lack of) whether it asks for fiat or crypto.
There are regulated investments which you can try out through online brokers but nothing is a sure thing.
The surest of surest brings in perhaps 4 per cent annual (fixed deposit) but yeah keep some coins and treat them as investment otherwise run a business.
|
|
|
|
|
I think it's about time we had smart contracts for the most widely used cryto currency on the planet!
Personally waiting to see several sites I am on dive into Segwit. Like most, I will only be a bystander though!
|
|
|
|
|
I hope this doesn't sound like an ad but I personally use some trusted bot exchangers on gambling sites that operate on the big4 coins and another operating with 8 coins.
The former uses poloniex rates, has zero fees and is instant. So I withdraw my alts to my site wallet account, use the bot to exchange and withdraw to wallet. Fee is flat or zero even and no kyc needed.
|
|
|
|
|
I really wish more merchants and sites would adopt litecoin if only for the speed of transactions. Unfortunately there is just no demand.
My simple view is this... faucets are the entry point and if more enthusiasts could give litoshi we'd see greater demand.
|
|
|
|
|
Bitcoin is here to stay only if because of the sheer amount of users... But I see nothing wrong with having altcoins as part of online currency options.
If anything, advances from alts like lite and eth have only made Bitcoin stronger and vice versa.
|
|
|
|
|
i think if you want near instantaneous and at the same time a coin with fairly wide usage then as someone suggested above ETH is the way to go.
15 seconds or so block confirmation is really about as quick as a credit card confirmation=) Why 0 confirmation when you get security for 15 seconds?
|
|
|
|
|
Show Posts
