I am thinking that if the bitcoin continue to go up to $100,000 and above. it will be expensive for the poor people to invest. It will be for only rich people. It will be better for bitcoin will not go so much high so that it will be affordable to everybody to invest and have profit.
I will like to read and learn for everyone here.
Incorrect statement! Bitcoin is highly divisible and you can purchase bitcoin worth even $1. So anyone including a college student can participate in bitcoin ecosystem without the need to having a huge amount of initial investment. 99% of the people in this forum don't own 1 full bitcoin till date. So there is no financial entry barrier for the poor people. Try to use any random exchanges in the crypto market, and experience that for yourself. So the pricing is not an excuse rather an opportunity. |
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Pi coin is bound to fail. It doesn't have any utilities and people can mine it from mobile. It doesn't require anything special to get into Pi network. So as per the rule of economics, it would not have any value because it is so easy to get your hands onto it.
Look at bitcoin and it's price chart since inception. The harder it becomes to mine bitcoin, the pricier it has become, coupled with other factors.
I am personally sitting on few thousand Pi tokens which can't be transferred and now the team is planning to do kyc validation for all. So seriously I don't see any future for Pi token.
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recently am being worried about online cryptocurrency gambling platforms with the recent event in which we witness a good number of gambling sites closing down operations after some years of outstanding records.
First, it was yolodice, and now BetBTC and many others. What seems to be the problem is that gambling software and licenses come with an expiration date, or is the gambling environment not friendly enough to accommodate and sustain continued operations.
what is your view on this?
Online market dynamics is similar to what you are observing. One closes down and another 10 pops up. Nothing is flawless in this market. Also majority of the online casinos are owned by a small group of people operating probably from their own home or garage. That's why many of them are not professional while dealing with their own clients. This happens everytime. But I personally wouldn't worry much about a casino on the verge of closing down unless they are acamming people. There will be more casinos popping up to fill in the blanks. |
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Regulation is inevitable. Mark my words! If not today or tomorrow, but day after tomorrow we are definitely going to have crypto regulations in place. It's not just for US but for the other countries too. And I support a regulatory framework around cryptos because crypto market is now filled with scammers and fraudsters. Millions of people have lost millions of dollars in ICOs or IEOs and in other type of frauds. So it's high time that a regulatory framework is provided.
Did US people forgot the pipeline hack happened few months back? Do you want to see the same with your electricity network too?
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I have been in the forum for some time learning different aspects of bitcoin, now I want to be more practical about bitcoin as a currency. I introduced crypto payments for my business and have been making sales lately. I'm in the clothing industry and I believe in crypto. I have my wallet addresses and barcode printed at the door and pos! For now, I accept Bitcoin, and Etheruem. These are 3 popular coins in my community.
So far customer feedback has been good. Some people are glad to be able to use bitcoin to actually pay for a service, Nigeria is a growing market you see. In addition it has also got my business attraction from customers who are in the crypto space. The challenge though is the issue of transaction fees, 8 out of 10 customers aren't exposed and only use the blockchain wallet. I try to educate them on other wallets with low transaction fees like electrum.
I feel good about this new development. I get to interact with customers about Bitcoin and share ideas
Many congratulations! I too have a POD store running successfully but unable to use crypto as a payment method because the government is unable to provide a legal framework. However I am little unsure if I should be accepting bitcoin or other cryptos even if my government provides me with a legal framework. How are you hedging the extreme price volatility of cryptos? Are you settling the cryptos against cash immediately after making the sales? Or are you holding it back for a better pricing in future? Since Clothing business doesn't have a great amount of margin, need to understand the plan. |
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Person A connects a $15,000 mining rig to his computer and starts churning out many terahashes per second, in the form of "shares".
Person B connects nothing to his computer, but instead modifies cgminer to pretend that it is communicating with a $15,000 mining rig and generates the exact same number of terahashes per second, however they are all faked random nonsense. When the pool finally finds a valid PoW, Person B gets a share of the proceeds despite not submitting valid shares.
What is there to prevent person B from doing this?
Or to put it another way, what is the process by which a share is actually verified to have been performed on real hardware, since (AFAIK) a share typically does not include a successful PoW that results in new coins?
Lol! The shares are validated itself during the mining process. In every shares found, there are two options - accepted or rejected. So the algorithm would tag the shares of person B as rejected while the shares of person A will be accepted. If the process of peraon B could get him some valid shares, then no one would be buying mining rigs. Instead all will use fake mining programs to mine and make money out of it. If someone has approached you with such proposal, stay out of that! |
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Got a link to that announcement?
Helluva change for them because historically Wells Fargo has been vehemently anti-crypto and closed many peoples accounts because they were involved with crypto.
when I had coinbase 5-7 years ago and was sending $$ to wells fargo they would ask me what it was. I said it is from my sale of coins 🪙. they said okay and left me alone. In that case, you must cheer. Probably also visit the branch, meet with the manager and say the G word! Because there was a time when banking lobby tried their best to resist bitcoin. And within just few years, they realized that there is little they can do. So instead they are now trying to adopt cryptos to stay afloat and keep themselves relevant with the world. That's definitely a win! The only question I have, will that be a physically traded fund or just a derivative based fund?? |
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Well it seems the crypto winter is nowhere near! What excites me is that the increase in p2p trade. That's what is the need of the hour! Centralized exchanges can be closed anytime by the government but p2p trades are something, they might not be able to control. I am not surprised to see my country in top 3 because the exchanges are pushing really hard. I can see tv commercials from crypto exchanges during sports and high profile events! Those have yielded a good result it seems! Cheers to the mass adoption growth rate, the numbers are really amazing!
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Would you sell the casino tokens you hold for a long time that the price could posssibly go up this bull season or keep the casino tokens that shares profit of $1.20 a day?
Just a delimma for anyone to think of. I have something in mind but I wanna ask your opinion since I also bet everyday in this casino.
Are you sure it's a casino and not a hyip??? Because casino websites don't really share a fixed amount of money everyday. It is usually based on their profit. So sometimes you won't get any profit at all. So if you are sure that you have invested in a functional casino website, I would rather ask you to hold it because $1.20 is a nice little incentive if you are coming from an Asian country. But make sure they are a functional casino first! |
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[1] governments investing bitcoin as a reserve
[2] huge companies preferably in the top 1-20 will put bitcoin in their balance sheet
[3] online stores such as Amazon started to accept bitcoin
[4] governments making bitcoin as legal tender.
I agree with these points! These incidents can act as catalysts for the next bull run of bitcoin. However, I hate to see point number [2] happening! I certainly don't think it is a great things when corporates pour in billions of dollars into bitcoin. It definitely increases the demand in the market and temporarily increase the price. Many people would earn money out of that bull cycle. But in a decentralized ecosystem like bitcoin, it's not good to have few corporates in a position to control the entire market. That could be super bad for the bitcoin market. We have seen enough market manipulation already. That needs to stop firstly! |
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I believe I have seen this news before and the person who took this photo is also a member of bitcointalk. I am not able to find it now, apologies!
This is exactly what people need so that bitcoin thrive in its own ecosystem. Those big whales and pump-and -dump players don't mean anything. But such kind of adoption is actually a granular level adoption which we will need to see.
But unfortunately, Indian government is planning to impose a blanket ban on cryptos very shortly. I am worried that the auto driver shouldn't be arrested for accepting bitcoin.
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CLEVELAND, Ohio — A Bath Township man is charged in federal court with running a darknet operation that prosecutors said laundered more than $300 million worth of cryptocurrency often used for illegal transactions in underground marketplaces. Larry Dean Harmon is charged with conspiracy to launder money instruments, operating an unlicensed money transmitting business and money transmission without a license detailed in an indictment handed up by a grand jury in Washington, D.C. Federal prosecutors say Harmon, 36, ran a service that allowed customers to send bitcoin and obscure its origin. Such services are known as “mixing” or “tumbling.” Federal prosecutors are seeking millions of dollars in financial penalties and want Harmon to forfeit his house on Yellow Creek Road, as well as additional property in Akron and Aurora, Colorado. Source: https://www.cleveland.com/court-justice/2020/02/bath-township-man-ran-service-that-laundered-311-million-in-bitcoin-for-darknet-transactions-feds-say.htmlLol! While I understand this fellow was not solely arrested and charged for mixing services, but mixers are a great tool for money laundering no one can deny! The motto of money laundering is to hide trail of dirty money and mixer does exactly that! Honestly, bitcoin has given financial freedom to a lot of people who are honest and didn't earn bitcoin by felony. But there is another segment of people who were empowered by bitcoin (xmr nowadays) to continue with their dirty practices. The community must find a way to stop this menace! |
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Given the nature of this digital currency, there are always conversations to be heard about not buying Bitcoin, as Bitcoin works outside the traditional banking system, so there are too many opponents to it. However, its design is such that no one can create a particular barrier to buying it. If you have access to the Internet and a Bitcoin wallet, you can invest in buying Bitcoin.
Many countries have struggled to obtain this digital currency. Bolivia, Thailand, Vietnam and Bangladesh, for example, are all trying to obtain Bitcoin. Even more advanced countries such as Russia, Japan, Australia and Venezuela have attempted to legally sell Bitcoin. But it is interesting to note that some countries, such as India and the United States, have not yet taken action in this regard and have not yet defined an official policy on such currencies.
In general, it should be said that bitcoin cannot be an obstacle, and this is one of the advantages of Bitcoin.
Well, it all depends on the leadership of a country. Leadership with progressive people in it, have opted for bitcoin and people with regressive mentality in the leadership, have decided to ban it. India's crypto bill is on the way and possibly within next few weeks, you all will hear sad news from India that the government has decided to ban bitcoin. However, having said that, it is really impossible to enforce the ban. The law can have its provisions for banning it, but to practice that in reality, is a whole different story! So it's not wrong to say that banning bitcoin is a mission impossible! But negative legality will definitely discourage a lot of people! |
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A lot of popular streamers have voiced their opinions on this, and I think it’s good overall given that a lot of audiences watching on the platform are teenagers that might have access to mommy and daddy’s card. A lot of these people look up to these huge streamers, and will do whatever they are doing in order to mimic their ‘greatness’ for a tiny bit.
Or perhaps Twitch can just ask for KYC in order to block or screen underage viewers from mature content, though that wouldn’t work in the long run too. A lot would surely protest on KYCs and Twitch’s viewer count would significantly drop.
This is the best move right now. Gambling promotions can, perhaps, stay in YouTube for the meantime.
I understand that! But the policy doesn't help to curb teenage gamblers here! Streamers are prohibited from sharing links of the gambling websites. But they are not banned from streaming at all. Gambling related contents can be perfectly streamed on Twitch. So I am not sure how this new policy may remove problem gambling from teenagers! This new policy will just bring down the affiliate income of the streamers to zero and that's it! Pretty stupid step it seems! |
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Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country. The currency, the Afghani, fell to record lows. Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.
Given that China sees how weak the current US administration is, Taiwanese should beware and should have escape plans in place: assets offshore in the US, EU, Switzerland etc and some large percentage in bitcoin. The people of Hong Kong had an opportunity to do so, and probably still have a slight window, but right now Taiwan is in a place where the people should be concerned about the communists at their door.
These are the exact reasons why fascist and regressive countries have either banned bitcoin or in the process of doing it. Because governments do not like people to have control over their own assets, rather they want to control everything they can. Bitcoin is indeed a great tool to avoid such intervention from the government dogs. We have seen that in the past when protest against China erupted in Hongkong. I am sure many people are using bitcoin solely for this purpose. But governments are furious. Recently Federal Reserve president said few lines on bitcoin. Read here: https://www.marketwatch.com/story/crypto-is-95-fraud-hype-noise-and-confusion-says-feds-neel-kashkari-11629236416 |
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I saw some news today that the Dogecoin Foundation is officially coming back after several years of silence. The foundation is set to support core developers and projects benefiting the meme-inspired cryptocurrency DOGE.
I think this is a good news and a good sign for the Doge to rise up again, what are your thoughts about this news guys? buy or wait again?.
Lol! This is what an influencer does to the market! Dogecoin creator sold off his own coins and bought himself a new hinda accord few years back. But when Elon started praising it, everyone gone mad! Now Elon's praises has gone up to such a high level, that the creators is back in the game! It's literally raising the dead again! Now this news has created so much of fomo in the market, that dogecoin is up by 16% already. Go dive into it as it will definitely go up. But make sure to come out in right time! |
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Been thinking - What do you think is the biggest news cryptocurrency needs that will increase its popularity? The only news we need now is the news of bitcoin adoption by the governments through a legal framework which will pave the way for merchants to accept it with ease. That's what we need now! Bitcoin wouldn't thrive without granular level adoption. Whales are not so important for the survival of bitcoin. But we need granular level adoption and for that we need legal framework from various governments of the world. Such things might trigger the next bull run and make it even more popular! |
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Is there a gambling pattern that eventually leads to one of these addictions? There is one very prominent pattern I have seen in few of my distant relatives which leads to addiction. That is the greed to overcome the losses occurred by gambling itself. Few of my distant relatives are very active in cricket gambling. During their initial days of gambling they had won a huge amount of money using which they had purchased their first cars. But eventually they started tasting the defeat. They became addicted just to recover that losses occurring from gambling. So they gamble more to recover their loss and started lossing more. Their initial winning remained as their inspiration to continue with this malpractices. I am sure that's another psychological parameters that lead to addiction! |
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First off, all these comments are from people or are they bots? I notice even on twitter when it comes to politics, you see these accounts post comments where it sounds like a bot... then you see other users who post the same exact thing.
I assume the scam here is you then contact that persons whatsapp or phone or telegram, then they ask you for money... then you get scammed?
These could bots with scammers in the background. They will probably try to sell you some software which they claim to mine with 5x power than the traditional mining software. So it's best to avoid them. Remember one simple thing, if someone claims that he has access to something magical which can help us to make tons of money without any effort, always stay out of that! Because if in reality someone has access to such software, he would try his best to guard it as a secret. He would never sell it to the people. So if you remember this thumb rule, you will be good! |
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It's indeed great to know that you are actively using bitcoin for your businesses. It solves one major problem you were facing in your business. It completely eliminates the intermediary called banks and you now get the funds with a great speed compared to traditional currency exchange business.
But I am interested to know how you are handling the price volatility? That's a huge risk for you if you don't convert your bitcoins immediately after receiving the payment. If you keep it as it is, you either will get huge profit or generate huge loss. How you are hedging against the volatility?
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