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Maybe all these are false signals. Pointing to higher inflation when in fact a tsunami of deflation is on the horizon?
Some people really have no grasp of devaluation, specially on the more stable economies of the world (read: USA), it's easy to forget how bad inflation can get when you've never personally experienced it in a significant manner. Now I know the USD has steadily inflated over the years, but it's slow enough for people not to notice the harm it can cause, and makes it hard to gauge how different things were, specially with all the new technologies that come up, it always feels things are going forward at a steady pace and they don't care much about the economic side of things. I wonder what pointers you use to call a deflation is on the horizon, I've been hearing for months about how many economies will crash, I'm no economy expert but I've lived through several economic depressions in my home country which gives me just a tad more perspective, but not enough to call future behaviors of things. |
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the moment the governments of the world figure out an easier way to transfer LEGAL funds in between borders, that day the world will not need bitcoin FOR ME, as in my own experience, that's what I've used bitcoin for ever since I discovered it, to transfer funds to and from different countries for low fees.
Hiding is a nice plus, I see why some people see the appeal to it, but to imply that it's the main driver is a short sighted, kind of ignorant position to take when talking about bitcoin. If you made your way into this forum, bother a bit about learning the ins and outs of bitcoins, even if just generally, and you'll see how much MORE bitcoin is than "hiding taxes/criminal activity from the government!"
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Wow. It shouldn’t surprise me too much, I saw it coming, but also shock me seeing it: Coinbase is selling blockchain analytics software to the US Secret Service- Coinbase is providing its blockchain analytics software to the U.S. Secret Service
- The law enforcement agency awarded the contract to Coinbase in May and it ends in 2024
- Last month, The Block broke the story that Coinbase wants to sell its analytics software to two government agencies — the DEA and the IRS
They are trading your privacy for their survivorship. You are not Coinbase Customer, your are their product.[/list] Isn't this what many US companies do? Like Facebook and such? In part it's the very own framework that the US forces companies to work on. Not excusing them, it shouldn't be done. Look how hard apple has fought for their users privacy for example, it's a good way to deal with the government, better than coinbase's |
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It's very possible that our coins are already mixed with illegal coins those were marked on the addresses. You never know.
Does this worry you much?
It doesn't for me.
When we deal with cash, we do not know the source of that cash whether it came from an illegal or legal source one hand before me. I think the Bitcoin hatters are very active to plant the seeds in our head some day we will be in trouble. There will be time when we will not have these centralized exchanges with centralized fiat, there will be a time when we will not have any centralized financial system. Wait for those days.
PS: I am not encouraging those illegal Bitcoin traders by any means. I just think that nothing can stop Bitcoin.
The thing here is that, because bitcoin has accountability some people seem to think that stained bitcoin might stain the chain, but I think your argument is great, in the sense that, just because cash isn't as accountable as btc, doesn't mean we can't make the same argument for it, if we as humans really cared about people misusing our means of exchanging goods, we'd take down 90% of all US dollars because there's cocaine traces in that many bills. If that doesn't stop the USD, believe me it won't stop bitcoin either, this accountability will instead help bring justice, more so than cash ever did anyway |
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It's obvious that he'll say things along those lines. He's the founder of a cryptocurrency exchange after all. There's no reason for him to go against the very products and services that they offer. Sure, his stance on bitcoin might be vague or somewhat 'cloudy' back then, but for someone who has invested on a tech and not really believing on its potential is utterly nuts. They are now 'realizing' some of the benefits that bitcoin offers, but for sure they have already realized that bitcoin is a great money-maker as evidenced by his cryptoexchange.
Most people would also realize that bitcoin is the 'real-deal' when others are using it, and have made quite a lot from just having it. Even boomers would get enticed by the returns, that's for sure!
Yeah, it might have been a stand he made before he even understood what he was working with, and having learned about the product itself he's maybe come to realize it's not as bad of a thing as he thought. For OP, haven't you had a friend do a whole 180 about bitcoin once you've told them good things about it? I know I have been able to convince a few people to try bitcoin for the first time, with realistic xepectations of course. Could be something similar to that. |
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I'm shocked this kind of stuff is still happening after so many incidents. I see sites like twitter and facebook put so much improvements and efforts hunting *hate posts* and censoring users on their platforms who don't follow the mainstream points of view, that I ask myself: shouldn't they be putting the same effort at least to preserve their users integrity on their platforms?
I hope all those who were hacked sue twitter for such violation, and of course, that the hackers be caught as well.
It's what happens when "tech giants" are built around popularity instead of solid foundations. These guys made much more money that they ever dreamed of and give no fucks in the world about the people they so easily sell to their real customers. It's really messed up out there man. |
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Obviously, many among these are hypothetical. We don't know if Bitcoin will reach new ATH in 2021 or ever (although it's reasonable to suppose that it will do so eventually). The marketcap also largely depends on the price, so this might not happen. As for other important dates, I'd add 2140 as the year by which all bitcoins will be mined. This is arguably more important than next halving. As for more hypothetical dates, it would be nice to see something like the date Bitcoin reaches 1 billion users or when Bitcoin becomes accepted as payment by major supermarket chains.
Damm I am just imagining bitcoin reaching 1b users. Nakamoto would be proud as fuck, alive or not, at that point his idea would have seriously reshaped the world. I'd suggest adding 2050 Bitcoin reaches USD $1m. |
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Earlier also, I had a long debate with fellow forum members on similar topic. It's true that blockchain ledger is open for public and every information is traceable there. But that doesn't really matter because even if the information is available, the information owner is not known! So even if we see someone sending millions of dollars using bitcoin, we don't know who is doing that! So the information matters least unless you can link it to an owner!
I am not bitcoin puritan but I really want to see a clean bitcoin network rather than being synonymous to illegal things! Just check the number of financial frauds happened in last 3 years and see how many are connected to bitcoin. Not a good picture, really!
So for me, this privacy feature of bitcoin is really taking us off-track than bringing us on-track where we can see organic growth among the legal merchants and users. Really sad to see!
But let's be real, the fact that bitcoin gives the possibility of anonymity is a net positive. You may not like some of the implications of it, but I personally prefer to have my savings stored far from my govt's reach. Simple as that, just think how much money is taken from you in taxes at any given month and is just normal to you, well, it's not okay. And privacy is a good way to combat it. Yes, I know taxes do have good uses, but see the current US political stage and you can quickly realize how I don't want my hard earned money just mindlessly spent against my countries' own interests. But maybe that's just me. |
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Sounds easy but you do really think of that hackers havent consider such stuff? Of course they do but to arrange all things up then its quite hassle on my part as being a hacker.
You wouldnt mind too many things or too complicated but rather they do directly to make scamming attempt once they do able to grasp out one of these accounts
yet they do know that they can benefit it out directly without the need of complicating things up.
This is correct, hackers like these have interest in their specific benefit, just imagine yourself in such position, you gain access to a huge amount of high profile twitter accounts, you have to think your next move, ask for money or try to take a jab at an entire industry that you probably even support (by using btc) that will recover eventually? The most reward / risk ratio falls on the former. |
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I'd double check that "chinese people are really disciplined", there's a trend of mainland chinese who usually don't like going by the book and instead look for ways of cheating, this opinion obviously has a bit of bias as I've had a few bad experiences with mainland contractors, but that's a story for another time. The other points I agree though, the government took a while to take a stance on covid, but when they finally did they were, as you say, decisive about the matter so that definitely helped.
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You just need an electrum wallet to become a BTC=Paypal merchant, you just have to deal with trusted users. You also learn about signing a message so that you won't get scammed. People who engage in this business somehow also into lending which I guess you can also do that with collateral.
But about $100/daily, there is probably non right now that will give that much.
This, there are MANY scammers in PayPal, trusted users is a really good first step, I once commited the mistake of not caring about the dude's reputation, he was about 91% positive, I didn't pay too much attention as he had hundreds of reviews. Sold him some BTC for paypal (it was about $200), everything seemed good so I released the coins. FF a couple weeks and I get an alert from PayPal, turns out the guy had filed a dispute, and PayPal does NOT like bitcoin transaction, fighting it was a futile battle, as in the end they just said "we can't do shit for you, also stop selling bitcoin or get banned" so, there is that  . |
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There are a few issues, due to the informal nature of "outside the regular system" that some companies definitely try to exploit. That said, it really depends on the branch you're going for, just like people, different companies will go about things differently, some are more organized than others. If you know how to code, learn solidity and you can get solid work in any ethereum / ethereum based project.
If you don't know how to code and you still want to dip your toes in, maybe try community management! Seen quite a lot of projects looking for moderators for their socials, people knowledgeable in the blockchain, though sometimes it's just someone to reply and let them know they're being read / their issues will be forwarded to the correct party.
Hope that helps!
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Ever since I first got involved in crypto, the place I heard of the most was always bitcointalk. I used to come here for knowledge in the crypto space way before creating an account and eventually participating and I'm sure many others did. Like other commentors, hadn't visited that forum you describe, was it any good compared to bitcointalk?
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The session lasted 9 hours and consisted of a roulette strategy that immediately began raking huge profits without any consistent losses piling up one after another. On auto bet this strategy would not lose more that 3 times in a row. It went on like this for 9 hours. 3 hours in when I was up around 8 or 9 BTC I contacted the live chat and told them I may have found a bug because I’m winning way too much. Yes I actually did this. I continued winning and once I reached 15BTC I started withdrawing. After 5BTC of withdrawals the froze my account. I could still play but I couldn’t move any more out of my wallett. The admin messaged me after I was up 38BTC and said that I talked him into it and that yes There was a bug. In the end he left me with 6.5BTC and I kept the XP points. The bug bounty as it was called. I still can’t breath when I think about it. Thoughts?
Thanks for all the thoughts everybody. It never crossed my mind to try and keep the bug a secret because I didn't want to do the casino wrong since it is such a generous casino in the first place. The bonuses and daily give aways are second to none and I had been gambling there for a couple years. Truth be told Im in the US and they dont even allow US players. I could have been told to kick rocks with nothing. I started the run with 1.5ETH and walked away with around 6BTC.. not a bad session. You are all very familiar with the establishment I'm sure. A fair and stand up spot none other than the great Bitsler. Baryom is who I dealt with. The one thing that leaves a bad taste in my mouth is all the rains I gave away. I rained atleast 0.5BTC over the 5 to 6 hour session. But hell it sure made me feel like a rockstar. Atleast for a short while.
thanks everybody, theraker
It depends mostly on how much you invested to begin with. If you invested 1 or 2 BTC I'd call it a win. If you deposited more then It'd be a bit of a gray area, because you did find this via a bug, while you made the site better, their ToS must have some sort of appendix for this specific case scenario and you're probably not entitled to much more than what you originally invested. I'd say you got off just fine, so cheers for that. |
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There are 3 elements here.
1. Bitcoin used as a currency for purchases.
2. Bitcoin as an non-interest earning savings mechanism
3. Speculation on the price of Bitcoin, and the receipt of interest on lans.
1. Should not be taxed, even if people make a bit of profit from it.
2. If you tax this, then you need to tax fiat as well.
3. These are trading profits, and should be taxed like any other profit source. You should be able to offset losses as well.
My main use of BTC is as 1. I do however pay taxes whenever I convert to FIAT, not a huge amount but still, it does feel unfair sometimes. |
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Fees are high because volatility is too high. A lot of traders are sending bitcoin to and out exchanges... this always happens. But you can still make transactions with low fees. I made a transaction recently with 10 sat/byte that was confirmed in a few hours. You just need to be patient. Miners are not making a lot of money due to halving. Fees are just a small part of the reward: look this block for example https://www.blockchain.com/btc/block/0000000000000000000e64f2f8a06ffeb03cb4a597fdcb11f43ee9bf16decbc3Block Reward 6.25000000 BTC Fee Reward 0.13771274 BTC I got sent about $500 with 4 sats/byte, it took a whole week to clear, but it cleared! Low fee transactions are definitely still possible, just manage your expectations for clearing times |
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Well, the demand for Bitcoin rise because of the covid-19 pandemic which we'll know, also, the palliatives from the government contributed to massive adoption during and after the bitcoin halve 2020. We're expected to see a huge rise into bitcoin investment after this halve but still waiting to see such at the moment. Basically, we're about to see a good and worthy investment with Bitcoin as the lockdown resign.
We have to wait for June to finish to be able to compare how purchase trends swayed right before and right after the halvening. I know a few people that invested some savings into btc just before the halving |
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I'll join, let's see what they've got to say. I gotta admit it's refreshing to say the least to see the change some of these corporations opinions were and what they are now in respect to bitcoin, I respect that. |
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We can't really blame him for sure for what he just did. Bitcoin doesn't have that much value way back before, and because of him buying pizza's for tons of bitcoins, it introduces the value of bitcoin to people. But try to do the same thing today, buy items, goods and services through bitcoin as it is the best means to introduce bitcoin to people. By simply asking if they are accepting bitcoin, it will already trigger their mind what bitcoin is. The bitcoin-pizza event was truly historic and worth to commemorate, I hope soon, we'll not going to rely on the dollar value of bitcoin, thus, with it intrinsic value.
It feel silly to criticize someone for past actions that he had no way of knowing the repercutions in the future. He was invested into crypto way before most of us, and we only got here because of people like him using bitcoin in the first place, so I'd cut him a bit more slack. I agree with you in that we can't blame him for not knowing, nobody knew.. |
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Created this topic for some bitcoin investors to read about the current situation, please read and share your comments with me.
These days many people are scared because they think lose their money with bitcoin because of the price falling down.
There are two kind of people in my own idea:
1. Some people invested with their own money and they are also thinking long-term (2-3 years or more)
2. But in the other hand some other people, unfortunately, using the money from dad/mom/loan/... Also they want to get the profit in short term.
Please everyone be careful, when are you using other people's money, you will get stress and you panic real fast. obviously, in this case you lose your money and leave the crypto world while you say "crypto is unless/scam".
Many investors are recommending people to do to enter any project with the money they need, use the part of money you don't need it. So, even if you lose your money you won't be depressed
If you know bitcoin for 3-4 years you know we had many pumps/dumps even worst than this. For example, a few years ago after closing BitInstant, bitcoin stopped trading and the price fallen down like hell. some people sold their bitcoins for a real low price and lost too much money with selling too cheap. Everyone said bitcoin is over and here it is! Today you sell/buy it for 6K USD.
Sooner or later... Bitcoin price will rise and having one single bitcoin will be a dream for other people.
I have a deposit stuck with 4 sats/b, about $1k when it got sent to me, I don't even know if it'll clear or not, what I know is that it will come, eventually, also I don't need it at the moment bc of price dropping so let's leave it be until it finally clears, I'm thinking of using it way in the future anyway. I thought you were going to discuss about transaction volumes |
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