Hi,

Indeed if you consider technical issues, bitcoin is lagging behind. Some of these issues are linked to the fact that bitcoin is the best-known alt coin, so of course, it gathers more users. I am not a technical expert, but I would say that many alt coins would face the very same problems if they were as popular as btc.

What you call for is actually understandable, but I think this won't happen. Not because of any kind of conspiracy or technical limitation, but just because bitcoin is the emblem of all crypto currencies. It was the "first", it is THE historic crypto money.

You can't get rid of a symbol. If bitcoin was to be replaced, I think the community would see many members leaving.. 

Hi,

Thank you for sharing... this is such a mess. I see why forks are important but I guess some could have been avoided. I am not sure they have all brought something to the bitcoin itself.

If you add the other altcoins to this, you clearly understand why newbie are having hard times figurng out where to invest!

I hope we are not going to "lose" the spirit of bitcoin with all these operations!

Hi,

Sorry to say so but the Indonesian government cannot ban bitcoin. I understand the idea, they want to prevent people from using it so they make transactons illegal and prevent people from using it as a currency... on the national territory. Which actually means nothing when considering and alt coin.

Again, I don't say that this will have no consequence, but I am completely sure that they will not be able to stop bitcoin from spreading in use in the country. However, as a matter of fact, it will not be possible to make such transactions through an Indonesian IP. This is not really an issue, right?

Hi,

I am completely in line with what you say here.. Bitcoin remains the "best" for me, just because I'm not here for the mere purpose of trading. I mean, of course, it is great when you manage to make profit, but I guess that the goal of bitcoin is bigger.

So let's stick to it and build a strong community, for a better future!

Hi,

It can also help because it is a way to avoid taxation... Maybe not so legal, but still a great way.

Then, of course, with bitcoin you are not confronted to the issue of changing money and getting to be facing unfair exchange rates..

Last, I think that bitcoin is a community. So, it is not a bad starting point for meeting people and learning about the new country in which you settle!

Well, what is your point? Do you agree with him?

If so, I strongly advise you to sell the bitcoin you have (if you have some) and leave the community.

If you don't, why do you spread things like this? I mean such a post without any argument or explanation... It is quite empty 

Bitcoin is not a scam. You can find frauds and scams involving bitcoin, of course, but it is not the whole story. Bitcoin is not just "air". Do you really need to print something or have it in your hand for this thing to have value? Of course, this cannot be the opinion of a bank, or its chairman...

Actually for the moment, I would say I agree with this bank.

Bitcoin cannot be used currently as a money. First because rates (and thus prices) are changing from day to day, in huge amount and then because there is no ATM or credit card allowing you to use bitcoin in real life. And I think that it will never. Just because the bitcoin was not conceived as a fiat currency, so the aim is not to print it.

That doesn't necessarily mean that bitcoin is not suitable to be a currency. It may become a currency, but it must be thought well, just because you don't want to exchange the current control of states and banks for the control of a private printing firm!

The bitcoin was indeed thought as "a new gold".

BUT

The difference is that bitcoin is not physical. In the case of a war, as you evok it, people tend to be reassured when they can litterally keep their hand on their possessions. So the bitcoin is not the accurate tool here.

On top of that, gold as long been seen as a standard to measure the wealth and well-being of an economy. Yet, this is no longer true. The value of a dollar, a euro, a pound, etc., is determined by exchanges on gloabal markets. The US government may have 100 bullion gold or none... it does not affect the value of the corresounding currency..

So definitely, I would say no. The bitcoin is a new technical tool, a hope but surely not the "new gold".

I don't think bitcoin should be advertised.

Because if you want to talk about bitcoin, especially on social media, you need a short, striking message. Which means that almost certainly the message will be about the financial opportunities provided by bitcoin, not the idea behind it. Maybe it can be a good way to attract new people but chances are higher that the "investors" attracted just look out for short-term profit, creating a bubble and after it burst, go chasing for other eldorados, leaving the bitcoin bled dry.

I understand your point and indeed we need the community to grow. But I don't think social media advertisement is the good way of spreading the message..

Hi,

For huge firms such as Microsoft, actually pretending to accept bitcoins just to make people think they are at the edge regarding technical matters. And when people actually what to pay with this, the company must either make it unavailable or go back on their statement and say that it is no longer possible..

For the moment, bitcoin for large institutions is merely a marketing tool I would say. They don't really know how to use it, how to deal with it... They may see it as an opportunity but they doon't have the first idea about how to develop something successful out of it.

Well..

I must say that I don't believe in your theory. All your arguments seem valid but... I don't know, I think that traders and institutionnal banks have other matters to deal with, before considering bitcoin. I don't say that they are not interested in it, they may even see it as a potential threat... But for the moment it is far from jeopardizing their market so I don't think they can use such strategy...

Of course, I am quite far from this environnement (and quite opposed to its "rules"), so I may as well be completely wrong.

Hi,

How do you think government would ban bitcoin? They could only limit the transactions they can control... that is to say very few if you consider the bitcoin community.

You can limit transactions but unless you are ready to lose completely some technologies, you cannot "ban" bitcoin, as you cannot "ban" internet.

Truth is such decisions, talks, affect the value of bitcoin. More and more people join the community and the volatility is higher than ever before.

Hi,

I don't really understand your point... If you don't want to have bitcoin... Then just don't invest in it. Don't buy bitcoin. It is not compulsory.

The bitcoin is currently questionnned because indeed its value is changing from day to day, hour to hour. Due to its volatility, it is hard to know "how much it is" and this is why for the moment it cannot be used as a daily currency.

But this should not prevent you from investing in it. The purpose is different, that's all. If you think that the money on your wallet is useless.. Well you can see it as a saving bank account with an unsure interest rate. Because it is exactly what it is...

I don't understand...

Why would you share your location? What is the point?

Bitcoin (and other crypto) allows you to be anonymous and still have guaranteed, verified transactions. Why would you bother giving a piece of information like this? If someone ask you this, you should not give him your address. there are many other ways of securing transactons that does not recquire personnal information.

Keep in mind that bitcoin is a wonderful tool... but that it can also be used for scams. 

Why not?

Actually, it depends on what you mean. What you can do for sure is trading bitcoin for the currency n use in your coutry and then transfer such amount on your bank account. Warning: depending on legislation, such amount of money may be submitted to taxations so beware what you transfer!

Then, if you mean "can I have bitcoin on my bank account".. Well of course not! As any currency in the world, you have to change it for "your" currency before getting it on your account. The difference is that if you receive.. let's say pound on a euro bank account, the bank can me the exchange itself (and charge you for that). With bitcoin... Well, you have to deal with the exchange on your own!

Hi,

Your question... is the question everyone is asking themselves. I mean we all wish to know which is the "good" crypto, where to invest, how to make the most of what we have, will we ever be millionnaires?

Spoiler: Nah.

The bitcoin community is far more than just a group of crazy investors. I understand your concern but I cannot answer. Try to mitigate, only invest what you can afford to lose... But keep in mind that you will not become rich with bitcoin. If ever it happens it will be a good surprise and otherwise... well, you will not consider bitcoin for what it is not.

Understand me, I am sure, bitcoin is full of opportunities. But not those beautiful stories we hear, it is already "too late" for that (which does not mean you should not invest!)

I guess that the best answer here is just... Well, wait.

I understand this is not what you hoped for when you made your post but there is not actual solution to your problem. Technically, the network is limited and considering the current number of users, most platforms are facing issues dealing with all transactions. So they cannot take the risk of accepting newbies if they are not sure they can provide the service.

That's why you are struggling. And I am sorry to say that this is one of the biggest issues the bitcoin has ever faced and it should be a real concern for every bitcoinner as without infrastructure, bitcoin is nothing...


Hope it will get better soon!

Hi,

Your parents are just trying to protect you. Here on this forum we are all "on the bitcoin side" and still we all realize it is risky. You can lose everything that you have invested and even more. I don't know your parents or the family situation but I guess they are just worried about it because they don't have the slightest idea of what bitcoin is.

Maybe what you can do is starting with some explanations. Tellling them what bitcoin is, without asking for permission to invest in it. Just wait. Leave them some time for them to grasp the concept. For some people, using a computer is not so easy... So regarding bitcoin...

Try to make it smooth. You don't want to waste your family relationship just because both sides were stubborn. If you read through this forum; you can find posts explaining simply the concet behind bitcoin so that children can understand it. Start with that.

For the investment in itself, don't be in a rush. You can wait for some time.

Hi,

Actually, if you read carefully, you realize that this decision is being discussed... Which does not mean that the ban will be adopted.

Indeed, this can seem worrying as you remind that South Korea has a special place regarding bitcoin and its community... Though, how can they do that?

If the direct exchange is banned, then people will just go through other currencies... Unless the government wishes to make exchanges from won to dollar and dollar to won illegal, they cannot prevent South Korean from using crypto-currencies. It will take longer and be more expensive but it may only slow the process, not end it.

At least this is what I think!

Some people may have won huge amounts from crypto as they had invested at the very beginnning. But I would say this is not true for many. Just because you can't think this will grow so high... So you invest and when you have made a profit, you sell. Then you see it keeps growing so you invest again (but it is far more expensive) and you wait until you make a profit.. and so on.

I think there are very few people that have seen changes in their lifestyle. For most of us, bitcoin is an opportunity but rather as societal change than as jackpot!