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201  Bitcoin / Bitcoin Discussion / Re: Bitcoin Begins to Be Used in the Football Industry on: June 11, 2019, 04:55:51 PM
For them, this is just another way to get more money. I guess that they are instantly converting their coins to fiat via something like BitPay and none of those people is holding any significant amount of coins (even if they get that much crypto payments).
Soccer teams are already sponsored by many financial organizations (including shady ones) like banks or forex brokers. Football teams do not care that much about activities of their sponsors so it is not a surprise to see crypto project among them.
202  Bitcoin / Bitcoin Discussion / Re: Fraud-Fighting ‘Watchtowers’ to Arrive in Next Bitcoin Lightning Release on: June 11, 2019, 04:34:47 PM
This seems to be a good move but the problem is that they are solving a problem that does not exist yet. Most part of Bitcoin users never had a deal with LN. It is not even implemented anywhere (considering that we need LN for "offline" payments).
So in this case I guess that no one really cares about the security of their money on the system they don't use.
203  Bitcoin / Bitcoin Discussion / Re: Is this how we regulate Bitcoin? on: June 11, 2019, 04:16:58 PM
It really boils down to one of the most basic set of commands known to man — If, Then, Goto, and Else. Except now we have the power of smart contracts where we can ensure that the parameters are completely met along the way, and we can verify these requirements via the blockchain at any given time.[/i]
The only thing that Smart contracts can ensure is that people will get their token in exchange for their money. That's it. Most ICOs need funds for project development and they are not able to repay its investors if the project fails. Even if someone is not going to do any exit scam nothing can ensure that this team is not showing us a fake activity until the projects run out of money.
This is a human factor that can not be predicted by any code.
204  Bitcoin / Bitcoin Discussion / Re: If india bans Cryptocurrency as per the draft law, What happens to the community on: June 10, 2019, 04:49:29 PM
India is one of the world's fastest-growing hub in the industry of technology, cryptocurrency and blockchain certainly suit them, their government is just a bunch of id*ots restricting their people and IT for this tech adoption.

I believe they can still develop blockchain technology and their fintech, its that Indian citizen will be restricted to sell and buy cryptocurrency if they approved that said draft law.
I hope you're right, but for those people who has really believe on this tech and has seen potential money making through cryptocurrency will not stop by such law on their country. We will still see lots of indian people trading and even still active here despite the consequences. I just hoping good for their safety though.
People won't be stopped but cryptocurrency adoption would be. One thing is when you are buying a used bike and paying with BTC directly to the seller and another thing is to implement cryptocurrencies into existing retailing system where the government can easily control your money.
Bitcoin may not be stopped but you are gonna get to the stone age if you are willing to use crypto in a country with any serious restrictions.
205  Bitcoin / Bitcoin Discussion / Re: Money for Nothing and your Bitcoin for Free on: June 10, 2019, 04:42:18 PM
This thing can happen on almost every market. And the smaller you market is the fewer efforts it would take you to manipulate this market. So everyone who got millions worth of BTC may try to get some easy money.
But I believe that in case with stocks such things would be considered as a kind of fraud and you are risking to get into jail.
206  Bitcoin / Bitcoin Discussion / Re: Is BTC futures contract really works? on: June 10, 2019, 04:11:04 PM
I have no idea about the service you are showing but the thing is that you can trade with x100 leverage on forex but not on crypto market. No one is using that leverage and it is always looks shady if someone if offering that much. There is a chance they are just willing to scam you.
You should also understand that every small price move with such a big leverage would bring you huge losses that you can never predict.
207  Bitcoin / Bitcoin Discussion / Re: Bitcoin ATMs in Vancouver To Be Banned? on: June 10, 2019, 04:06:00 PM

We know that there seems to be an expanding market for bitcoin ATMs around the world (or so I thought!) because primarily it is very convenient for anyone to convert their bitcoin into real hard cash and maybe also to buy some bitcoin at the same time -- with ease and convenience incomparable which other means. 

Converting your BTC to fiat online is much easier. Afterwards, you can withdraw paper cash via any normal ATM.


However, while many might be rejoicing at the prospect of going to a bitcoin ATM to do some transactions, there are those in the authorities who are thinking otherwise...they are afraid that bitcoin ATMs can be utilized for money laundering -- the same big concern expressed against bitcoin itself and the whole of cryptocurrency.
Nothing stops them from asking for KYC.

Just recently, the mayor and other officials in Vancouver called for the ban of bitcoin ATMs due to its unregulated nature of doing business but an attorney has a fair view on the matter: "Vancouver definitely has connections to, unfortunately, digital currencies being used for nefarious purposes. But on the other side, it also (includes) legitimate businesses where they’re trying to get regulations to operate more legitimately.”
It seems like you guys have to think again about whom you are voting for lol. I'm not trying to promote crypto now but paper cash is also anonymous and people are also buying drugs and pay for illegal activities with it.

208  Bitcoin / Bitcoin Discussion / Re: big banks going against crypto on: June 10, 2019, 12:27:40 PM
Pretty soon banks would be just another IT compsnies but nothing tells us that they gonna start using cryptocurrencies.
I did not understand how you correlate banks with the IT companies  Huh , banks will be there forever and nothing is going to stop that, we will have both these facilities in the future, bitcoin is not meant to replace banks  Wink.
Traditional banks are earning their money from maintaining people's card transactions (acquiring). This is why they are happy to provide credit cards with 0% loan.
All of them have their huge IT teams that are gathering data from their clients (both companies and private users) to increase their profit. Even all those AML things they do is nothing more than an algorithm that is looking for deviations. Almost all their activities is a pure IT stuff. What else is not clear?
209  Economy / Economics / Re: The Satoshi Value Economy on: June 09, 2019, 05:42:07 PM
This is something like an interesting fact but nothing more.
It doesn't really matter what is the price of the national currenty. The most important thing is its stability. You can earn $100 per monts but you will be still more poor than the guy that earns billion of his cheap money.
From usability point of view BTC deflation is a bad thing.
210  Bitcoin / Bitcoin Discussion / Re: Bitcoin: More of SoV or P2P Cash? on: June 09, 2019, 03:16:27 PM
However, I could not understand...can't we have bitcoin function as both which can make it much better and far more attractive than the physical gold? Or am I missing something here which I probably don't catch up?

Bitcoin can't be better than real gold simply because BTC market have much less money than real gold and it is too unsafe. For some reason people don't look at Bitcoin and don't sell all their savings aiming to buy BTC for it. And for the same reason people are not selling all their BTC stashes to buy all those "bitcoin killer" shitcoins.
Bigger and more established market is always the best one.
211  Bitcoin / Bitcoin Discussion / Re: wait, who owns the market? on: June 09, 2019, 03:06:00 PM
Bitcoin is seen as having a value greater than the sum of its parts.

Please PM me. I would try to sell you 1 satoshi for $1k. I see you are a smart guy and see that 1 sat cost much more than its current value.

Market is controlled by whales. The more whales we have the less powerful the single one is and less influence on the market whales have. So right now we see that one whale can almost instantly crash the market by -5% so the market is more centralized than we want and it is controlled by whales.
212  Bitcoin / Bitcoin Discussion / Re: Bitcoin will be junk/trash after ban in 2 big countries on: June 09, 2019, 08:58:35 AM
Bitcoin got banned in India and China so Bitcoin is worthless in these 2 countries. People of India will lose $10,000 or $100,000 if they do not get buyers in other countries at $7000.

But who will buy 1 Bitcoin for $7000 ??  Grin

Bollywood superstar "Amitabh Bachchan" earned multi-million dollars by starting a Bitcoin company.
Crypto ban in China is also not that important because miners would just move their equipment abroad and continue their work. Chinese crypto influence is only based on their  pools and not on their community.

Just IMHO but such bans can even help to develop BTC mining infrastructure and make BTC more reputable.
Reminds me that time when China bans bitcoin and then all the market capitalization moved from China to either Japan and Korea, good ol days, banning bitcoin is maybe the best way to lose some money out of your country to another nearby country, when it's about money people will think out of the box, remember that this is the era of globalization and everyone could do something they usually can't.
Sure. But it only works like that if mining community is based on miners (that could be moved away) in that country and not on the community (that probably wouldn't relocate somewhere else).
One thing that I want to add is that if the power of Bitcoin is based on such shithole places like India or China just like OP thinks, then we are already fucked up without any bans.
213  Bitcoin / Bitcoin Discussion / Re: Bitcoin will be junk/trash after ban in 2 big countries on: June 09, 2019, 08:28:11 AM
Bitcoin got banned in India and China so Bitcoin is worthless in these 2 countries. People of India will lose $10,000 or $100,000 if they do not get buyers in other countries at $7000.

But who will buy 1 Bitcoin for $7000 ??  Grin

Bollywood superstar "Amitabh Bachchan" earned multi-million dollars by starting a Bitcoin company.
Just guess how much worth to BTC bring people in India that are shitting on a street and then going to click on faucets. I think that the volume of their national market is low af.
Crypto ban in China is also not that important because miners would just move their equipment abroad and continue their work. Chinese crypto influence is only based on their  pools and not on their community.

Just IMHO but such bans can even help to develop BTC mining infrastructure and make BTC more reputable.
214  Bitcoin / Bitcoin Discussion / Re: Keiser: Bankers Can't Stop Bitcoin on: June 09, 2019, 07:18:37 AM
1. No one is trying to stop bitcoin. At the beginning banks just didn't want to use it bacause they had to avoid risks related to illegal activities of crypto users. And tbh many of them really had something to hide.
2. On the other side banks and the government can stop Bitcoin if they really want. It is impossible to buy something worthy irl and hide it from everyone while small transactions have no difference from good old paper cash and make no harm. But anyway, it would just take much efforts and in any case any huge crypto ban doesn't worth it.
215  Bitcoin / Bitcoin Discussion / Re: big banks going against crypto on: June 07, 2019, 04:38:02 PM
There is no such thing as a Fintech Bank. There is even no clear statement about what is fintech and every project have its own understanding of that word.
Also in general fintech is not about cryptocurrencies. For example almost every big bank have a big IT team that is working on different things related to Big Data, which is also considered as fintech.
Pretty soon banks would be just another IT compsnies but nothing tells us that they gonna start using cryptocurrencies.
216  Bitcoin / Bitcoin Discussion / Re: Jihan Wu and his Bitcoin OTC trading desk on: June 07, 2019, 03:42:16 PM
Fiat whales are not blindly buying every garbage that  someone is offering to them so the easiest and fastest way to sell those shitcoins would be to use exchange where normal users would buy it. And even if there will be enough volume to sell all this shit then the price would probably fall pretty low.
Most altcoins (and BCH too) probably would not survive this just because they exist only because different whales are shilling them.
217  Bitcoin / Bitcoin Discussion / Re: Scrabble: "Bitcoin" already included in it's 6th edition on: June 07, 2019, 03:30:14 PM
I don't know if we can consider this as getting closer to adoption, but we will take everything in stride.  Grin. Maybe next year we will see a lot of altcoins being added as well.  Smiley
Sure. They will just add a word "shitcoin" and we can consider that hundreds of altcoins are already added to the dictionary.

But frankly speaking if you are happy that someone admitted to use the word Bitcoin then we are far from adoption lol. Already for a long time people are not getting any new words from any dictionaries anymore.
218  Economy / Speculation / Re: How to know Feb 7 was the optimal buy point 2019. on: June 07, 2019, 02:44:44 PM
On your likn it seems like you are trying to analyze the BTC price basing on mining cost, electricity cost etc. which is wrong by default. If miner had to pay X amount of money to mine a coin then it doesn't mean that the price won't get under that point. People are buying different assets and then selling it for lower price to fix their losses. Miners can't force people to hodl their coins.
And I'm just curious:
Why da fuck electricity cost at 9:40 AM is different from cost on 10:30 AM ?
219  Bitcoin / Bitcoin Discussion / Re: Breaking News! Third world nation bans BTC. 10 years in jail for holding crypto on: June 07, 2019, 02:33:40 PM
I don't really care about that. A huge part of minor crypto users is coming from different shitholes like Venezuela or India and this part of users  deal absolutely nothing on the entire crypto ecosystem and at the same time they are holding or shilling a huge amount of crypto scams.
To make cryptocurrencies somehow established we need normal people to use it.
220  Other / Politics & Society / Re: Make Bitcoin Great Again on: June 04, 2019, 12:28:30 PM
Seeing how Trump is trying to squeeze the Chinese into a deal and talking about how much they have taken away from the U.S... someone should mention to him that the U.S used to be the home of crypto, and that because of overzealous regulation and heavy taxation, Bitcoin headquarters is being moved to China. The Bitcoin Company is now worth $150 Billion and it's  all gonna go to China unless he signs an executive order making bitcoin legal tender in the U.S.
First of all Bitcoin never moved its headquarters to China simply because there is no such organization that is called a Bitcoin. This cryptocurrency that we use is not a company.
If you are talking about miners then it have nothing in common with US regulations. It is only about the price of electricity. Many miners would be happy to move to less authoritarian place than China but it would cause big losses.
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