The only way to get people to stop worrying and shying away from Bitcoin, is to banish the volatility aspet of it, naturally.
I put emphasis on the word "naturally" because you cannot force a monetary process to establish itself in a few short years. The price and users must gradually reach an inflection point on their own.
It is similar to implementing the Euro as the official European currency. By no means were the governments rushed to scrap their central bank currencies, they were give ample time (about a decade or two IIRC) to phase it in, in stages.
So Bitcoin, and anything that wants to follow it in market capitalization, must be introduced to the public in phases, which could take a very long time.
The rest of the altcoins that do not stabilize can disappear (e.g. Solana), I have no pity for them as they only serve to give larger cryptocurrencies (and crypto in general) a bad name in the news.
Agree with the fact but how it will be possible when 90% of BTC will be held by big institutes and few individuals in the future. This would be possible if BTC has been evenly distributed or held by people. Whales hold most of the BTC which makes it an ideal asset to manipulate the markets when most of retails investors failed to hold it for long because of their impatience nature. |
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Is it still possible that in 2022 Bitcoin can help reduce this wealth and income inequality? Bearing in mind that most people were not early adopters.
Early adopters or not, the wealth/income inequality can be reduced by crypto even this year if the people who are experiencing inequality have made smart investment choices with whatever finance they had on ground and bought the dip, or buy this dip. But the hard truth is that most persons who are really facing this wave of harsh economic situation, barely have enough to feed, talk less of having enough for investment purpose. As a result many "not rich" persons may find it impossible to even buy bitcoins now the prices are low...so in conclusion, we may not experience much change in wealth/income inequality from bitcoins alone this year, there has to be a general improvement in the economy for real reduction in wealth/income inequality. Bitcoin can be a relief asset to overcome inflation. But the way it has been dealing with the market most of the BTC will be in hands of big corporations and few individuals. This will worsen the inequality even more. Some people made luck in BTC by joining early but before the mass adoption, 99% of people on the plant will not be able to buy 1 BTC from the market. Its price is already unreachable price for most people. |
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No, you are constantly carrying the slogans of the Kremlin propaganda. And that's a total lie  You spent 24 hours to find an article that says something completely different, and you are trying to present it as proof that you are right So we need to trust BBC news like the propaganda media of the west! Come on don't try to show us whom to trust and whom not to. We have seen this before how western media spread fake news and fact. I am not saying Russian media is 100% honest in these but I do not trust western media also. There is some different news that doesn't make all of the western news to be 100% accurate. |
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It's very common to spy on your enemy's network to extract information during wartime. In general time powerful countries spy on their neighbors to blackmail them to fulfill their interests. So I am not surprised here. If you know your enemy's movement or you know what people are thinking then you can easily manipulate the situation.
Russia's hackers are world-famous and it is obvious that govt will use them to invade in Ukraine's internet also. They could influence people's sentiment by spreading fake news or fake survey reports to influence people's sentiment.
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Complete nonsense. Why did you decide that someone would provide their data on an anonymous forum? Yes, in general, mail. When creating it, I'm not sure that someone is so honest that they fully indicate all the data about themselves. Therefore, all these statistics are complete nonsense. But the very tone of the OP, with which he explains everything, made me smile a lot. Everything looks like he discovered America.  The same things came to my mind when I saw this statistic. Why I would share my personal details and what the purpose that will serve! Most of the people in the platform use VPN so the country that is showing it will not be accurate. I think this data is not that valuable either because what you will do with this information? Showing ads based on your location like other social media! I haven't found the name India and Russia in the list which didn't surprise me because as I say most people use VPN in the forum so real location is hard to track. |
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It's human behavior that they learn a hard way. People whose first bear season is running learned a lesson. 90% of new investors are in panic and some are totally rekt. But if you think of your investment as a business then you will take it as a positive outcome. Mistakes can be investigated and develop a strategy to overcome those mistakes in the future.
It's up to you actually how you react in a different situation. There are people who react negatively in every type of market situation. When the market in the positive side they say it's too late they miss the opportunity when the market shows some negative results they say it's a scam and ignore the opportunity.
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For me the most secure exchange is kraken. The best in terms of fees is Coinbase - for withdrawal it is almost 0 fee. The worst exchange without any doubt is Bitstamp. The fee is enourmous 0.005BTC. And each week they send me new emails asking insane things, to prove the origin of my bitcoins and fiat, by sending bank and credit card statements, pool statistics, and many other things. I stopped using this hilarious exchange several months ago.
I think FTX is better than Kraken in terms of fees. I have used it several times without any KYC and I haven't faced any issue there. Though the limits are very small for non-KYC users the service is good enough to continue using them. I also have a KYC verified account in Kraken but didn't use them too much actually. I started using another exchange bybit. |
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What happens to the west policy of sanction? Didn't they want to cripple Russia's economy? The time for UK and USA is coming to an end. Their unipolar word system will no longer work and we are going to see some new powerhouse raise. What China is doing is a warning to the west. Now they have the capability to challenge the USA naval fleet near their cost line.
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The problem with going cashless is that not many people will be able to embrace it. in the advanced countries this may not be such a big deal as nearly everyone is already familiar with all sort of technology and buying online in a cashless manner. in the developing countries with high number of uneducated people, this can be a very big issue, it will require teaching almost everyone on how to operate an internet enabled device and own one as well.
Going completely cashless will pose a lot of challenges to many people which i doubt the governments are ready to subject its citizens to. So this is not advisable best thing for now is operate in both ways
The first impression I got after reading OP is this. EU and USA are not the whole worlds. There is a vast area of land in Asia, and Africa where people don't have an internet connection and are out of the digital landscape we live on. Paper cash is still the only way of the economy there so if mass adoption of cashless policy has to be taken then there should be some measures taken for those people. On the other hand in many urban areas internet connections is not that strong and secure. A cashless economy means no paper cash. So any disruption in internet connection would cause major damage to the economy. |
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There is no need to keep advising people to hold, i have seen this advice so much in the last weeks since bitcoin started plunging, if they do not believe in bitcoin or that this kind of plunge has happened before and that it will return back up, then let them sell to stronger hands that are ready to buy at all times, and just maybe experience will teach them to research next time.
Right on point. So what happened to the DYOR? part of the research investors should be doing is also studying past history of the projects that are already in the market and Bitcoin and some Alts have shown this plenty or a few more times that HODLing is best for the gains and if investors still don't know this by now that market does always reverse then they maybe deserve not to be in the system. One thing every professional investor says that is if you do not know something do not put your money into it. It is your money and you are an investor, not a gambler. Money can make more money but you need to have certain knowledge to do that. In our current world, the most precious asset is information so if you are investing in something then knowledge about its overall history and status should be at your fingertips. |
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To a certain extent, a CBDC is even the worse form of fiat. I'd rather have hard cash than a CBDC. At least with my cold cash, it's harder to get seized, easily spent, offers a little anonymity, could be spent anywhere and however I want. Hell, I could even roll those bills and snort cocaine without the government knowing I was the one who used it. With a CBDC, all of these convenient features are totally erased.
Exactly what I was thinking about. CBDC becoming the primary currency of our economy means the government will have more control over it. They can do anything they want with our money. They can freeze, seize, and control where I can use it. My money will not be my money anymore. That is why a country like China is more interested in CBDC than crypto. |
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I agreed with what OP said but I have also seen people who have made the same mistake again and again. Doing mistakes only will not change anything if you are not sincier enough to do research and find out what you have done wrong. Some people just throw money at something and wish for luck to make profits. Investment is more like gambling for them, not business. So the big question here is whether you are really willing to improve yourself and learn something or you are just those types of people who wish for better luck.
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USD is falling and it seems every plan has failed to revive it.
USD is falling and it seems every plan has failed to revive it.
The US has several mechanisms: - A printing press to buy everything they need for plain paper - Largest economy - Largest consumer market - A huge amount of really advanced technologies that are needed around the world. - The largest military-industrial complex, which will now begin to work at full capacity, which will stabilize the economy. So you don't have to worry about them. Temporary problems, due to the outbreak of fascism-rashism, will now affect absolutely everyone, and everyone will have to endure a little, and look at what happens when fascism is allowed to raise its head. A sort of painful, but inoculation for the future! I have nothing to worry about but the USA has. The higher the inflation will be the more other countries will try to reduce the use of USD for international trade. This number is already reducing. Once more than 70% of international trade was done by USD but now this number is below 40% I think. If you keep the USA economy aside then what you will say about the increasing number of gun violence in America? This country is falling apart from the inside and the fall of the USD will be the last nail into its coffin. |
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It sounds like can fiat currency kill BTC! I ready doubts about this concept of CBDC and its potential. Most of the country in the world doesn't have the ability and resource to create and maintain their own CBDC. Allowing crypto assets and taxing them is less costly and convenient for the govt than creating CBDC. Also, I do not find many similarities between them expect their use case. So talking about killing one another is irrelevant.
Fiat currency is already been here right before the btc came in and fiat is still being favored by the governments/banks and as well as the majority of people. Btc is nothing against it but between cbdc and cryptos, cryptos are the first one to came in however cbdc is being favored the most by the governments/banks because it's theirs but many people are still sticking with cryptos over cbdc so there is no need to worry about it. Cbdc cant surely kill cryptos but they are the ones that cryptos will kill. Governments can allow crypto but they cannot totally control it, that is the reason why they created cbdc and I don't think creating it is hard and costly. You should do more research about what you are talking about. People do not like or favored fiat. They are forced to use it because it has been legalized by their government. Inflation is the reason why people do not like fiat in the first place. CBDC is nothing but a digital form of fiat. There is nothing new so it is not a better version of fiat. People will face even greater problems while using CBDC. If BTC is nothing against fiat then how did you come to this place? BTC controlled by any company? Didn't you see any ads about BTC? Still, you find it out and this number is growing. There must be something in it that's why people like to store their wealth in BTC, not fiat. |
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It sounds like can fiat currency kill BTC! I ready doubts about this concept of CBDC and its potential. Most of the country in the world doesn't have the ability and resource to create and maintain their own CBDC. Allowing crypto assets and taxing them is less costly and convenient for the govt than creating CBDC. Also, I do not find many similarities between them expect their use case. So talking about killing one another is irrelevant.
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PS I don't blame India for anything. I can only express my personal opinion about the moral side of this or that act, to which I have every right. Like India, make decisions and explain your attitude to the problem. I just said that such a position could someday play a cruel joke on India. A passive or neutral position is, for example, when a bully beats a girl, and you are a healthy man, walk by and say - that's their business, I'm not alone, and give the bully a stone in his hand, because it turns out that the bully is your business partner. It's just that India is setting a very bad precedent. And when trouble happens to India, everyone will say - yes, this is a completely different problem, and why we will strain and suffer because of India or its problems. Although I sincerely wish that everything is fine in India and that there are no misfortunes, since I have a different attitude to other people's problems and tragedies ...
Let me remind you that Ukraine from the beginning of the operation and still carries out the transit of Russian gas through its territory to Europe and receives money from Gazprom for this. Don't you think it's too hypocritical to blame others for what you do yourself? Same thing we saw in the USA at the beginning of the conflict. When the USA was asking EU countries to put sanctions on Russia and stop all the exports from them they themself increase oil export from Russia because Russia was selling it at a discount rate. Germany providing Ukraine with weapons at the same time doesn't want to put sanctions on importing Russian oil. Weast means hypocritical and propaganda machine. |
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For the last two weeks or so, the Ruble has remained at levels of 55-60 against the USD. And this is not beneficial for the Russians at all. Now a large part of the hydrocarbon trade has moved to RUR and the increased strength of the national currency means that the Russian government will be receiving less Rubles from the export duty and mineral extraction tax (MET). That said, I don't understand why the finance ministry is not taking steps to devalue the Ruble. Doing so is much easier, when compared to strengthening the currency. As of now, everyone is losing out, including the wheat farmers, coal miners and oil companies.
The US dollar is experiencing problems with inflation, that is, it is getting cheaper. The world's leading currencies, such as the euro, pound and yen, are depreciating against the dollar, that is, they are depreciating even more. It seems that the world economy can now be characterized by the words recession and stagflation. Russia is watching the ongoing processes, but does not seek to fall into this abyss along with everyone else, so the Central Bank of Russia does not make efforts to devalue the ruble, even if it is unprofitable for exporters. It is more important to maintain the stability of the domestic market and prevent devaluation shocks for the population. Russia has a huge margin of safety due to the National Welfare Fund and many years of living with a budget surplus. Let the dollar fall - the ruble will not fall even faster, but rather will strengthen, I expect a return to the level before 2014, when the dollar was worth 30-35 rubles.Though Putin's gamble looks like a decisive win against the westerners the more important thing is to maintain this economic growth and stability. I am not sure the ruble could go that far but if it can maintain its current position in these situations then this could be a game-changing situation for the Russian economy. USD is falling and it seems every plan has failed to revive it. |
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Hey man! I understand you are from Ukraine or have relatives there? I understand Sithara007's position, what I don't understand is that of the European Union with a disastrous energy policy, which was already a disaster when it depended mainly on cheap Russian gas, and now it's even worse as it leads to botches like the one described in this thread?
You criticise India for buying Russian fossil fuels and you don't criticise the EU for buying them from India once refined? His position is understandable, as he resides in Ukraine. What I don't understand is his persistence in blaming India, when it is the US and EU who are responsible for Russia receiving $100 billion in hydrocarbon revenues during the first 100 days of war. Russia is profiting out of exports, not because India is importing their oil and gas. Russia is profiting because the prices went up. And the policies in US and EU are directly responsible for this increase. Now my Ukrainian friend doesn't have the courage to criticize EU or the US and for him India is a convenient punching bag. I do not mind for a different opinion but criticizing other countries will not solve anyone's problem here. I do understand one thing very clearly and that is everybody wants to defend his own interest. USA and UK want to use Ukraine as a goat to weaken Russia, Russia wants to occupy Ukraine to defend his fuel business with the EU, EU doesn't want this war because they want Russian cheap fuel, India wants to buy oil from Russia and resell it to make profits, Ukraine wants to use the USA to free their land. Everybody has a different goal here so there will be a clash in action and it's normal. |
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Hmm, India is buying oil at a discount rate but they are selling those oil by refining to European countries when oil price in their own country is skyrocketing. When people are suffering because of these price hikes then govt is making a hell lot of money.
They can not reduce oil prices in their country when they are already buying it at a discount rate then how OPEC countries increased oil supply will decrease the oil price?
There is so much drama involved in it - why have EU not thought once before putting the sanctions on Russia. Did they believe that Russia will do as they demand and beg EU to remove the sanction. Russia is the power they have fuel. Now half of the world is in trouble and IND are clever enough to cash this game. EU knows Russia won't beg to remove sanctions because it is not the first time the west put sanctions on Russia. Actually, the most benefited from this conflict is the USA. They force EU countries to put sanctions on Russia so that they can not buy fuel from them. Now the USA is selling oil and gas to the EU at a high price. The USA announcing billions of dollars in arms deals with Ukraine. On the other hand, many Ukrainian soldiers are talking about shortages of ammunition and their dire situation on the battlefield. Where are all these weapons going? This is all about the business that the USA and UK are playing with the EU. |
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I can still remember how some sanitizer and musk were sold at double price than its normal price. There was a huge shortage in the supply because people were buying them in a rush. Selling face musk become some people's full-time jobs because of huge demands. TBH there fear that the media spread about the COVID-19 was overwhelming. I personally saw one aged person die because of COVID-19.
Toilet paper, regular paper towels, food that lasts long, everything went high in price and people were stocking them like crazy and they were trying to sold them back with double the price at least. I had a friend who had one of those gun looking temperature things and he bought about a thousand of them, cost him all of his savings but dude tripled his money in a single month, that was a huge win for him. I understand the fear, because it was seriously bad when you got it, I have faced with 2 people who had it, both survived and well right now, but they were really shaken up during, it was a horrible thing. And 5+ million died total as well. So you either face a terrible sickness and survive, or you die, both of them look quite terrible options. If you sum up the data on road accidental death every year then the number will be probably higher. Covid got so much attention because it was a virus that spread quickly. I have also taken 2 doses of the antidote but never gone for the booster dose. Now everything seems normal and I am thinking I should take the 3rd dose or not. Most of the people I know who took 3rd dose faces different health problems for a few days. Now I saw another virus called monkeypox is spreading. Another stream of revenue for pharmaceutical companies. |
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