How do you think banks make money, how does a bank make money to pay its employees and business operational?
Does the bank rely solely on interest on loans from banks?
The Bank's the only financial institution the most widely used by the wider community, especially in overcoming financial problems, either by ways of saving, credit, investment or other financial activities. If we look from the outside the bank seems to be very helpful to the community, they are willing to go to great lengths to save people's money, channel the money and even provide millions of ATMs which make it easier for customers to transact. But basically, profits are what each bank prioritizes. Each bank's identical to what's called interest. Interest's one of the bank's main income received from customers who have borrowed money. Actually what the bank loaned to its customers is money collected from its customers. That's where the bank benefits from interest. In this case, the bank doesn't use its money, because the bank's money has been used up by the government. Very cunning, isn't it? Not only that, but the bank also has many other fields of business, for example: Confiscated Assets, Collateral Items (collateral), Transaction Services, Investment Funds, and Safe Deposit Boxes (SDB). |
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As interest in digital currencies increases such as Bitcoin, more and more Bitcoin scams promise high returns. Unrealistic lure is clearly a mere cover, and usually ends with the loss of clients' funds. Fraud often spreads in social circles based on trusted relationships. Therefore, we must be aware that there are cunning fraudsters who can actively seek ways to deceive with absurd tricks and offers.
How to avoid bitcoin scams :
1. Know What You Are Facing
You don't need to rush to decide whether an investment product is a scam or not. All you need to do is, take a moment to find complete information about the project. The easiest way to do this is to find information in the form of company details or Whitepaper (if ICO), and other things related to the investment product. Learn all the details carefully and do some research on testimonials, comments, and so on. Another way is to join a Bitcoin forum like Bitcointalk, and immediately ask for credibility of an investment product or company to other members.
2. Avoid Unrealistic Offerings
Usually, crypto currency fraud can disguise its identity by using a social media account or advertising banner that looks professional. Mark Steward, director of FCA law enforcement, explained that when people become more skeptical of the real world regarding investment and consumer habits have changed, investment fraud has moved into the realm of Online and social media.
How to avoid this Bitcoin Scam is, you are better selective about all investment offerings from the Online platform that you did not ask for, whether through social media, email, or even by telephone. Even if it looks official, pay attention to how it is offered. Con artists usually dare to promise high profits to lure victims. So if you feel the promise of profits is unrealistic, immediately ignore the proposed offer.
3. Beware of Phising Web Pages
Increased interest in crypto currencies makes many new investors enter the market. Lots of land in a fake landing page that claims to be a popular digital currency exchange platform. One example is the one that uses the Punycode technique. Through this method, the fake domain 'xn - inance-hrb [dot] com' can be displayed as 'ƅinance [dot] com'. This technique is usually able to deceive consumers, because web pages can look really like the original. You can overcome this by being aware of vulnerabilities that exist in internet browsers, such as Chrome, Firefox, and Opera,
4. Beware of Fake Digital Wallets
Fake virtual wallets often appear online or at the mobile app store. In the example of a fake Wallet fraud that happened, more than $ 3.3 million was stolen from users who want to claim their Bitcoin Gold. To anticipate similar events, many Bitcoin Wallet providers caution clients to be aware of the cloning of scammers who want to steal victim funds by imitating their appearance.
MyEtherWallet for example, warns customers about fake MyEtherWallet in December. In addition, before choosing a digital wallet provider, do research first. Please share opinions on leading crypto forums, both local and foreign. In essence, only use the Wallet provider with a good track record.
5. Beware of Bitcoin Thief Malware
Malware is something that concerns computer owners. But now, a new category of malware capable of stealing Bitcoin-related data has appeared. Malware authorized by the computer owner is able to record typing or search for a file with the keyword "Account", "Password", "Bitcoin", "Wallet", or other keywords specified by the author, then upload the file to an anonymous server automatically.
In addition, there is also a malware that seeks to absorb the computing power of computer users to mine crypto. Anticipating this, YouTube is trying to deactivate ads that take computing power to mine crypto currencies. It is believed, after users see the related ad videos, the computer becomes slow and there will be warnings from anti-virus programs. Malware like this can steal up to 100% of computing power to mine crypto currencies (generally Monero). The solution that can be applied here is to install strong anti-virus protection and active Firewall to protect the computer.
All the things you mention already very often I found. Fortunately, I can distinguish between regular sites / web, and phishing sites / web. Not only that I also often find advertisements which offer high profits from 300% to 5000% this's certainly very tempting, especially for new users, while the situation is very opposite with actual market conditions. So, with the existence of such advertisements of course it's very doubtful. |
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In the world of finance cryptocurrency is still very new, and very popular. Although it is considered to be disruptive to some sectors of the financial and banking industry, the blockchain that it carries can be utilized as a profitable opportunity, because this technology has properties, which are safer, transparent, fast and efficient. In addition to the financial and banking industry sectors, blockchain technology's very feasible to be applied in various other industries, for example automotive, ticket sales, etc.
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What happened this year is the remnants of what happened in December 2017, when we were lulled by crypto's significant growth, to the point where we forget with what the big players did, from the pope who left with big profits, up to the ICO that took away investors' money. December 2017 has given birth to sweet memories as well as a painful memory for new investors.
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At this time cash has two versions including Digital and Physical. In my opinion cash will continue to exist as long as the country that created it's still there. Even today the existence of cash currency, still dominates as the only means of payment that's easily accepted by the public. Besides that the acceptance's also very broad it seems unmatched.
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There's no certain limit for anyone to gain the benefits he expects. During cryptocurrency it's still pouring profits to us of course already has become an obligation for us to use it in a way which is ethical. So that the benefits can be felt, by many people, but for those who are new you need to understand what risks you will bear because the value of the currency is far more speculative than investing in gold. So that sometimes there are people who earn 1000 or more, with only 100 capital (this is the strategy that I always use). That means he buys a coin when the price's very low and sells it when the price's rising so he can make a big profit.
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Who's the person who doesn't want to have money, in modern civilizations like this, money has a role, which is very important, especially for everyday life. In fact money can be a most logical motive which can make a person motivated to do something things both prohibited and allowed. Rich people who have a lot of money can certainly make us happy. Because we can buy things that we like without the need for many calculations. But, money can't buy everything. Because in this world there's still another thing which is more valuable than money, maybe it can't be bought with some money which we have.
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This thing can be a phenomenon which is extraordinary. Although the predictions are not as accurate with the reality what will happen, I think the price's as high as $ 10.000.000 will occur in the future price of bitcoin. And the government might say to everyone that we have to accept it, hopefully. 2028 is a long time however along with the development of economics in the community with a slow method maybe the number of people adopting bitcoin will increase. I think this's one of the main reasons.
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Bitcoin is one of thousands of cryptocurrencies. It is not easy for ordinary investors to read where they are going. One reason for its intensity has to do with how one thinks about the reliability of bitcoin, which always exists and continues to be an ideology for its users.
Every new problem may be present one by one including difficult to access. But, with the passage of time. Bitcoin's performance will probably continue to be developed even better, so that problems which will occur in the future, are easily identified and can be minimized.
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How many times have you came in a store and asked whether or not they accept bitcoin when you wanted to pay?
Should we do that EACH time we visit ANY store?
Would we create a huge advertisement for BTC that way?
I think we don't need to ask again whether the store, accepting bitcoin or not ?, If he did accept bitcoin as the pay media, of course he already put the bitcoin logo sticker on it. Would stores start accepting it when they encounter a couple of people on a weekly basis asking them if they accept bitcoin?
They may not be able to accept it if they don't have a bitcoin wallet, because without that where can the transaction be done. Should we start doing this? o.o
Should we create a community so hard core that asks for everything they pay if it could be handled in BTC?
We need, a cold hand from the government, so that everything can be realized perfectly or socialize it in a subtle way, for example by holding a meeting or something, basically they / the store owner must know what the benefits of bitcoin are. |
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For me, since ethereum prices touched $ 194.73 - $ 200 on September 9, 2018 is the best time to buy and start investing. Because we just buy when the price's low then wait for the right time and sell it at a price that's slightly higher than the purchase price. Just enjoy the profit until the market increase's finally saturated, then you have to stop buying and wait for the price to fall again.
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Although cryptocurrency has the potential to be misused by scammers, and cyber criminals to benefit from innocent people, especially from users who don't understand how to invest in crypto. As it turns out, cryptocurrency has a special place in each investor's portfolio. Why People Choose Cryptocurrency?
Because, cryptocurrency has the potential to be used as a tool to protect wealth / investment. In addition cryptocurrency has many advantages namely fast, safe, and free from third-party interference. |
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Over the years cryptocurrency has evolved into a global currency but governments are trying to sweep it's relevancy under the carpet. We all know that the eyes of the community are now opened to the importance and blockchain technology.
Cryptocurrency and blockchain technology, actually have educated and opened our eyes to the shortcomings which exist in conventional currencies and the fragility of the banking system. What baffles me is why are the government making lives difficult by banning or limiting it's use?
Since the emergence of the first bitcoin crypto currency, it has long been rumored to be a decentralized currency or without a third party, such as a bank. This thing certainly makes most of the government furious and frightened. That the banks, that they have considered as the main source of their economy will collapse just like that. |
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In December the price of Bitcoin was near $20,000. Today, the price hovers around $6,500.
Which is the real value? Do you think the market is telling us the Truth?
I guess, $ 6.500 is a real price not the price of manipulation which we can see now. We must understand that the launch of the CME's Bitcoin futures contracts and subsequent rise and fall of Bitcoin was not a coincidence.
In my opinion the 'bitcoin futures contract' conducted by CME's one of the strategies of the popes and at the same time as the main cause of all the declines which occurred throughout 2018. Although at first, they built crypto prices towards a better direction (for a moment), in the end they destroyed and left it after getting huge profits from bitcoin which they had exploited massively. |
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i think if all countries using crypto, there are so much banks that are collapse, because with crypto we never need a bank because we have our own bank
Bank as a supplier of fiat currency (the product of a country's pride). The bank will forever remain and it cannot be demolished by anyone, as long as the country that protects it still exists, and the bank will still get a number of benefits from the transaction fees, which we spend, especially when we exchange cryptocurrency into fiat/conventional currencies, or when we buy cryptocurrency. Agree the government will not be able to do that, they will still maintain their local currency because that means a lot of things for their economy, how the local currency describes the economy and the situation of their current country. crypto will not replace banks or fiat, crypto will only become an option only Good connection iMark. I can only imagine that banks and money are the only choice for a country, to use it as a tool / asset / indicator to advance its economy, even though the country is suffering, for example, hyperinflation, as is the case in Zimbabwe or Venezuela. That's when crytocurrency will enter the joints of the economy of its citizens. However, crytocurrency in attendance will only be an option (as said iMark). i think if all countries using crypto, there are so much banks that are collapse, because with crypto we never need a bank because we have our own bank
Bank as a supplier of fiat currency (the product of a country's pride). The bank will forever remain and it cannot be demolished by anyone, as long as the country that protects it still exists, and the bank will still get a number of benefits from the transaction fees, which we spend, especially when we exchange cryptocurrency into fiat/conventional currencies, or when we buy cryptocurrency. I think countries are using digital money as it is, consider the fiat you use, there are some banknotes that changes hands but mostly almost all of the currency a country uses is on digital bank accounts, just changes the account name and becomes someone elses in the end but the transaction never has any currency changing hands. It is just one number ommited from someones account and goes back to someone elses account. I wouldn't be shocked if countries decide to create their own currency and create a crypto currency that will be basically doing the same thing as the fiat currency they are using right now. Along with the development of technology, various innovations also continue to be developed, including the financial sector. The presence of new technology has been able to modernize one's life and fiat currency performance, especially in the area of transactions. The fiat currency of this century, is not always presented in physical form, the government / banking has formed into two types of money namely physical and digital (as said ausbit). That means where there has been a shift in objects / types of currencies, from physical to digital forms, even there are already several countries, which implement blockchain technology into their transaction systems. If they have understood blockchain performance, it's not impossible 'cryptocurrency, government version too' maybe will be created. |
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Is there any evidence that these mysterious 'whales' really control the bitcoin market, or is this a myth generated as people try to understand why bitcoin prices go up and down?
Not a myth or a figment. Given that bitcoin which is not authorized by government legal entities, has made it vulnerable to manipulation by a group of big whales. Large whales are more camouflage they can be behind anyone, for example CBOE, exchange sites or companies, etc. |
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For some couple of days now, the price of bitcoin has been between 10k - 11k (which i actually thought would take a support at the said range).
Knowing now that it has gone below, what is your take on the current situation.
In about two months, i believe Bitcoin will recover comprehensively. The current Bitcoin price is only $ 6,600 but i believe this price will quickly be surpassed. Bitcoin will probably be worth about $ 15,000 this December. I would like to believe that it will be so, but I think that in December we will see a mark of a maximum of 8 thousand dollars and that is not a fact. As for me, forecasts for 15.000$ are very bold, unfortunately. Hopefully this is true, and will become a reality, as many people had hoped before. To this day we don't see a positive signal from the growth of bitcoin, this thing is far different from the signs of a rise in BTC in 2017 where prices at that time, are easier to predict. However I only hope $ 15.000 can be realized, by the end of this year. |
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If we have less new investors, so the prices tend to fluctuate less? How much dependent of new investors the prices are ?
Cryptocurrency as a digital currency, which has an exchange rate against other currencies, and its value will also experience price fluctuations. This condition is often used by users so that it can make cryptocurrency an asset which's worth trading. Another reason why cryptocurrency experiences price fluctuations. Cryptocurrency, basically has properties similar to gold. Because the amount's very limited, this thing will certainly trigger rising crypto prices when demand soars. So the presence of new investors cannot be used as a benchmark for rising crypto prices. |
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Fake news about bitcoin is still flooding the news media, and we can't stop it. As for, the best step we have to do is to respond to it in a 'more mature way, for example not to debate it. Fake news is everywhere especially in the cyberworld because one can spread bad or good news without even taking the risk of giving their real identity. It's not just about fake news we are concerned but also about these fake projects that are coming in and scamming people around.
Especially investors, this is the fact that until now, both the government, politicians and black hands have long been behind the "BITCOIN SUBMISSION" screen. |
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Here is what I see each time the government tries to stop or control bitcoin-  Bitcoin is designed to be censorship resistant, peer-to-peer payment system designed to remove the control by centralized institutions like banks . When bitcoin eventually achieve mass adoption, it will not really be much of an issue if some Governments place a ban on it within their countries. Maybe you're right mass adoption's the main requirement, for bitcoin to be able to break the ban imposed by the government especially to get its legitimacy rights. Even so we must remember that bitcoin's not a substitute currency, cash will always be there its broad use's unmatched. Maybe bitcoin will be used as a parallel currency with fiat currencies. In this way, bitcoin users can take advantage of the advantages of each currency, depending on their needs. |
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