Many people believe that the banks are never there when you need them - that's why we need Bitcoin. This idea became a subject of discussion when a Twitter user, by the name Nassim Nicholas Taleb, decided to express his frustration on the social media platform. Taleb’s tweet was in response to an original message on Twitter that was posted by news outfit, The Daily Star Lebanon. This tweet quoted a top banking official who stated that banking operations in Lebanon will resume fully when the ongoing crisis in the nation ends. This leaves bank users frustrated, one of which is Taleb, hence his venting on Twitter. https://www.youtube.com/watch?v=8yG14MKsKMcTaleb’s reply attracted a lot of attention, leading to a discussion where several other Twitter users voiced their opinions in the comparison between banks and Bitcoin. Many of the opinions simply explained the deficiencies in the banking sector that Bitcoin has come to solve. Some of them are listed below. Accessibility ProblemsBanks in many parts of the world are open only on weekdays. Even though internet banking and other electronic banking systems now make it possible to access some services outside these periods. With Bitcoin, there is no day or night, neither is there weekends or public holidays. Transactions happen round the clock and across the globe. Here is what the responder had to say; https://twitter.com/TheSafestSpace/status/1187470765366493190Faulty Lending SystemsAnother user faulted the lending systems of banks and identified it as one of the problems that Bitcoin is going to fix. This is in support of the point that banks are never there when you need them - that's why we need Bitcoin. He responded with a popular quote by Bob Hope; “A bank is a place that will lend you money if you can prove that you don't need it.” The lending system by banks is faulted by many. Just like the quote above, before you are able to access loan facilities from most banks, you must produce a collateral with a higher value than the funds needed. Apart from that, the rigorous checks and research ahead of loan issuance could last for some weeks or even months in some cases. Today, there are Bitcoin lending platforms where you can access loans instantly. Infrastructural deficiencyAnother user highlighted the problems encountered with bank’s ATMs: https://twitter.com/SirLordStacks/status/1187470363208208384These are the kind of problems that you will not have when making transactions using BItcoin and cryptocurrencies. For many people, especially those who are already familiar with using Bitcoin or other kinds of cryptocurrencies, such limitations can be really frustrating. ConclusionPrior to this, the problem that most people have had when using Bitcoin and cryptocurrency is the problem of accessibility. This used to be a unique problem especially for first timers who are yet to purchase their first Bitcoin. Recently, this barrier has become a thing of the past with platforms like Vertex.Market that have simplified the entry point for Bitcoin users, and those of other cryptocurrencies. On the Vertex platform you can easily buy Bitcoin and other cryptocurrencies using one of their 25 payment options. It is a peer-to-peer platform and the transactions are quick and straightforward, with Bitcoin or cryptocurrencies deposited directly into your wallet. The flexibility and efficiency that Bitcoin offers is a major reason why those who make comparisons insist that banks are never there when you need them - that's why we need Bitcoin. However, several other benefits exist, such as security, cross-border efficiency, elimination of trust and transparency. https://medium.com/@official_83664/banks-are-never-there-when-you-need-them-thats-why-we-need-bitcoin-c4fb792f616a I really don't think that within the present state of Cryptocurrencies and blockchain technology, that crypto could survive on it's on without being able to trade against fiat currency. I think that without fiat being a medium of exchange, cryptocurrencies would die off and the market price/volume would deflate rather quickly. Cryptocurrencies like Bitcoin have a symbiotic relationship with fiat, that proves its partnership works very well within today's economic society. If I couldn't trade my coins against fiat, all the time I've spent learning to invest and trade with the proper etiquette would have been in vain. I would most likely short my losses and move on to other investment vehicles, as I'm sure many others would do too. That's the only way to really crush cryptocurrency, by banning its trade against fiat currency, it would be a financial disaster.  Just my two cents! |
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Governments have done enough to dissuade common people from using Bitcoin extensively. Being charged with operating unlicensed money changing businesses is a possibility if you engage in cash-bitcoin conversion.
Disclaimer: I am not a lawyer, financial advisor or a representative of such professions. I am here to post my two cents (opinion) on the thread topic. If seeking legal or financial advice, please consult with your local professional!Bitcoin and other cryptocurrencies a-like, can't be stopped if they haven't broken any laws. I don't think that the Blockchain and cryptocurrency could be taken down unless it somehow posed a harming threat to the governments and parliaments. How would they stop it? If anything, they could slow it down tremendously by stunting its growth, as simple as banning crypto to fiat trading period. Unless cryptocurrency violates some form of law or policy, theres not much you can do until it has crossed the line in some way, shape, or form. |
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Yes, I think that Virgil did violate the law, an international policy named [IEEPA] International Emergency Economic Powers Act. He went overseas and tried to supplant another country's financial and economic system by introducing a foreign type of asset investment in the form of cryptocurrencies.
According to the [IEEPA] you can't do that. It could fuck up another country's economy pretty badly. He should have practiced his due diligence and sought after legal guidance first before jumping the gun, flying out to a country that has strict laws against its citizens (North Korea), which has constant conflict with the U.S, trying to re-ducate their country's citizens.
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Considering that cryptocurrency runs on the rather new blockchain technology and that seems to be getting all the craze nowadays as more and more new cryptocurrencies appear and the established ones get more value as time goes on. I’m rather curious, what other applications does blockchain technology have aside for cryptocurrencies
I keep on hearing people say that blockchain technology will change the world, is that really true and to what extent would it change the world?
With rather limited knowledge of blockchain that I have heard that blockchain technology can be used for transferring data more efficiently than our current methods of transferring data and that it can keep people’s identities a secret - probably who a lot of shady people use it in order to do shady things especially in the dark web and all the other dark places on the internet.
Are there any other uses of Blockchain technology for other fields of technology, I’m really curious to know more because, I, myself am not very knowledgable about this subject. Thanks for your input.
The Blockchain has many uses, cryptocurrency is just one of them. The Blockchain is the real genius behind Satoshi Nakamoto, Bitcoin was just the particular icing on the cake. The blockchain is an open ledger that is digital, transparent, publically available, and tamper proof system that revolutionizes that way we keep books. With the Blockchain, it is hard to cook the books because it is open to the public, transparent whereas each transaction can be easily recorded on a tamper free platform, so every book reciceves the same updated information. The blockchain creates a decentralized system that works more effectively and efficiently than traditional methods of bookkeeping. |
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Considering the safety of your coins and the simplicity of staking process, do you stake in centralized exchanges or you consider using crypto wallets that supports staking like imtoken, trust and atomic wallet.
Where do you stake?
I think the safest exchange to stake on may be Coinbase but even then, I wouldn't put my whole stash into one pot on a centralized exchange ever. Another exchange that offeres a much wider staking option for on exchange staking is Binance. I think the single best and safest option for staking would be in a wallet where you and only you have access to the private keys. An exchange, whether centralized or not, can still be hacked, jeopardizing your coins. |
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Currently, in this day and age, all governments around the world have adopted fiat currencies as a means for its citizens to trade with one another and to trade with other nations around the world. However, would it be possible for in the future for governments around the world to create a cryptocurrency as a means of trade to replace fiat currency?
I can see that fiat currency has many flaws as all types of currencies before it, but with the new “government cryptocurrency” would it be able to solve the problems that fiat currency has and make a better economy? I’m not really sure myself as I can’t really predict the future.
Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?
I think it would take a huge initiative for governments around the world to decide and choose cryptocurrencies as some form of alternative fiat backup or something. As of right now, the Banks probably won't allow it, but in the future who really knows? Maybe if the initiative was taken to and presented in front of the United Nations council, they could help with the mass adoptions from governments, but it seems like an unlikely scenario for now. |
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I believe the mass adoption of crypto (I say crypto and not Bitcoin) will occur when there are central banks in the final 3 countries who are resisting. The 3 countries are Syria, Iran and North Korea. Iraq and Libya also did not have a central bank however they have now "seen the light". I believe war and sabotage will rage in the reaming 3 countries until they finally fall and a central bank is ushered in.
Once all countries have a central bank in place I believe the world currency will roll out. I believe this world currency will be crypto in nature (not paper) and I'm leaning to a world government type coin over Bitcoin at this time however I leave open the possibility Bitcoin is the chosen one. There will be a false flag event or a economic collapse which will have the people begging for this currency. The people will beg for it. That part is important to the puppet masters.
The issue with this world currency is your wallet will be connected to you. We will talk of the good ole days when you could head over to MEW and get 400 wallet address when ever you wanted. These wallets will be controlled and your identity will be attached. This is why KYC is dangerous and setting a horrible president. All other forms of transaction will be made illegal. Once this is in place the new power structure will be able to see every transaction and analyse it. Your taxes can in effect be done for you at this point and there will be no hiding. It will be the perfect tax trap. Children can be taxed on gifts. This can and will get extreme.
I do believe there will be a privacy coin that will be able to be used such as Monero. The government black op agencies will need to launder the money some how and a rogue privacy coin will most likely accomplish that. Hopefully we can hide among them using this currency.
I fear a evil plot concerning Bitcoin and crypto that I don't see talked about much. I love the technology and use Bitcoin and Ethereum to pay for 5 of my monthly bills at this point. So I 'm a huge believer. Just paranoid.
Crazy theory or real possibility?
I live in the forest in northern Canada waiting for the economic collapse so I may be a bit crazy. Keep that in mind.
I think that mass adoption can't and won't happen unless major governmental entities make efforts for the average Joe to be properly educated and setup for mass adoption. As of now, a regular Joe wouldn't really care for Blockchain technology or cryptocurrency because others average Joe's aren't really talking about it or using it. Try explaining Bitcoin to my grandmother, and she'll tell you if the local politicians and governmental bodies, or banks aren't supporting it, it's no good to her. But if you give Bitcoin and Cryptocurrencies a huge platform like PayPal has with the Ebay collaboration, it could work exceptionally well. This is why I'm in support of Facebook's Libra platform. It might be centralized but it could work, because of Facebook's global reach of the people. |
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It amazes me the number of men in crypto but women not so much.
When I talk to my girlfriend or female friends I feel like they don't care about it or I am crazy lol. I offered 3 of my female friends 10 dollars worth of Bitcoin via Coinbase to see if they will be interested. I helped download the app, set up two-factor authentication and some other basic stuff. After a couple of months, they even don't recall how to access their wallets. I am very disappointed lol. Can someone explain to me why women are not interested in crypto?
The average woman is a socialite by nature. In other words, women as a collective are followers not leaders. Passive, by nature and not aggressive. Women are affected by the thoughts and feelings of others, especially celebrity women influencers on social media. So unless other women are preaching about Blockchain technology and Bitcoin on social media or there other socialite platforms, they won't adopt it for sure. Unless other women on the news or other media platforms aren't mentioning it, women won't really care for it. There are a few exceptions, but the average women is directly influenced by others within society, they seldomly make their own major moves or decisions in life unless others they know within the social circle do it first. If the other women on social media and within their social circles start promoting Bitcoin, they will join in easily and right away so they won't be the last ones on the train who are left behind within the circle. |
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Almost every day a new person comes up with the claim that he/she is the real Satoshi. The real satoshi surely does not want any kind of fame. If he/she/they want fame he could have disclosed his identity earlier. But what could be the possible reason that Satoshi still hides his identity? Does he have a big plan for the future?
I think if Satoshi Nakamoto was actually revealed, people would be upset at who it may actually end up being, and with that said, that is assuming that it is a single entity/person at all. What if Satoshi turned out to be a governmental organization? Let's say it is one guy, you don't think governments will want to bring him in for questioning? Blockchain and Bitcoin is changing the way we as a collective handle ledgers and finances. This is threatening to the old way of life, and is hurting some organizations pockets, like the banks for example. |
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Adam Back, CEO of Blockstream and HashCash, has said: "Nothing is above Bitcoin, no Central Bank Digital Currency, no stable coins." He continued that: "I think that blockchains are more about permissionless, uncensorable usage and free market money. I think while it is possible and useful for some use cases, like crypto trading, to have stable coins, they inherently fall short of Bitcoin as they have custody risk, and if there is a central bank underwriting also traditional establishment interests reflected in the operation which may look unattractive to users." Source: https://cointelegraph.com/news/exclusive-nothing-is-above-bitcoin-no-cbdc-no-stablecoins-says-blockstream-ceo-adam-backI really don't think there is anything above Bitcoin at the moment, but as of now, we are on the verge of there being a 4th generation of Blockchain technology. Many people say and agree that Bitcoin was the first generation. Ethereum was the second with it's introduction of smart contracts and tokenization. It's arguable but EOS may be considered the third wave of Blockchain generation technology. EOS has delegated proof of stake, which makes proof of work obsolete and EOS scale-able. |
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Its impossible to have one or two coins in crypto space because one or two coins can't solve all the problems we have in this world in every aspect of technology or others, if you want to keep a coin for a long time make sure the coin or token solves one or two problems in crypto space or the world, this type of coins don't die easily because they have real use cases, its simple as that
I have to whole heartily agree with you brother. I think this may have been the reason that Mr. Satoshi Nakamoto had decided to choose the altruistic approach and make the Blockchain and Bitcoin an open source code. His idea was genius, but combined with the collaborative work of others makes cryptocurrency unstoppable. Even if Bitcoin fails and becomes obsolete one day, the source code will live on within the foundation and backbone of other coins, made after Bitcoin and Block-chains likeness and image. Bitcoin is like the holy grail of cryptocurrency  |
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Jorg Molt was recently ridiculed on Twitter for claiming to be a co-founder of Bitcoin despite no one ever hearing of him. Today, he tweeted that Bitcoin’s price should recover because he just made an apparently large purchase.
Early this month, BeInCrypto reported on a new ‘fake Satoshi’ named Jorg Molt. Introduced at the SIMS convention at Symbiosis International University as the ‘co-founder of Bitcoin,’ Molt has since then stuck by his story. Despite being ridiculed on crypto-Twitter and beyond, Molt maintains he was present at Bitcoin’s founding, and subsequently claims to own 250,000 BTC.Source link hereThe first time I heard of the new Faketoshi himself, Jorg Molt, he was confronted by my man, I repeat! My man! Ken Bozak. Ken was in a blockchain conference where he took a video of himself pointing to Jorg Molt, the self-proclaimed new Faketoshi, saying that he is a scammer. I just watched his entire clip on Twitter, where they even took Ken's cap. My man, Ken Bozak, was brave enough to do this to really expose Jorg "The New Faketoshi" Molt. I met Ken personally at Token 2049 Hongkong, and he was a fun guy to talk to. So the new Faketoshi claims that he owned a whooping 250,000 BTC? Are you freaking kidding me man! Since I'm active in conferences, I would not hesitate to take a selfie with Faketoshi saying "I'm a huge basher of yours!" before pressing the button. Nothing but a scandalous charade that this guy is playing. Satoshi Nakamoto should have left some form of provability behind in order to stop these scandals from happening. Way too many gullible people are falling for these shiesty tricks. I'm willing to bet that this guy has no proof of anything, and I am certain of one thing, that after this guy, there will be plenty of more great pretenders and perpetrators looking to dupe poor unsuspecting people out of their hard earned cash. Some people have no shame |
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If He Forget everything on purpose ?  ( Like The genius for remember everything 10 years later everything he did making something he is alone able to see them ). He know governements probably want to kill him or want him to work for them so he take the risk to be forgotten forever as a legend. Imagine what he was able to do in 2008 already, when no one in world have the power to change the world, he was the one to believe he was able to start the revolution alone and change entire world by himself. Nothing, he predicted everything perfectly, he will comeback one day i think he is already back but to crazy like 10 years ago no one believe him already. If Satoshi Nakamoto is a singular entity, he could be brought in by different countries for questioning just for the simple fact that his ideas and technologies have caused a world wide disruption to the way ledger keeping and finance currently work. Satoshi's model of Blockchain and Bitcoin has altered the course of financial and economical history. More and more countries are considering the fact it's citizens are dabbling within cryptocurrency. I think Satoshi foreseen what his actions could do, and took a great deal of time and energy to remain hidden and anonymous as possible. |
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Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired.
Local law is local law. If a country wants to ban it's citizens from using cryptocurrency, then it has every right to. There isn't enough lobbying in the world that could possibly change that. I think that fiat currency took a long while to fully implement into the infrastructure of most countries way back then, and so the same could be said of Blockchain technology and cryptocurrencies. The only way that I can see a strict country changing it's stance on crypto use and adoption is if the united Nations made some sort of decree that Blockchain and crypto is mandatory for switching over from fiat. Then those countries may sing a different tune. |
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Cz posts on his twitter account oftenly that " slowly but surely" I am worried about it. Guys, can you predict how slowly the adoption can be achievable? would It take within 2020 and this 2020 can be remarkable in history? \
By adoption, do you mean the entire world adopting cryptocurrency or do you mean just your country. You question is way too broad to answer but to remain optimistic, I will assume that you are referring to a global adoption. In that case, my educated guess is that global adoption could happen as soon as some time by next year, if FaceBooks project Libra is given the green light by the United States congress to go on ahead and launch it's platform. Then all users who have access to FaceBook, Instagram, and WhatsApp will have access to a stable based cryptocurrency. |
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I am just wondering would it be possible in the future for the world to run solely on cryptocurrency? Considering that right now there are many people from different walks of life who are using cryptocurrencies in their day to day life. I think right now one of the main limiting factors for world-wide cryptocurrency usage is the world’s governments who make restrictions on cryptocurrency usage. Moreover, I also think another factor in limiting cryptocurrency usage is a lot of people’s lack of understanding of cryptocurrencies as it is a rather new technology to most people.
I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.
What would do you guys think, I’m just speaking (posting) my thoughts over here. Feel free to correct me if I am wrong. I’ just rather optimistic about the future of cryptocurrency usage in the future.
This is a rather easy question. for the entirety of the planet to ditch the current fiat cash model and to adopt Blockchain and Cryptocurrency technology you will have to put a smart device in every persons possession. That doesn't necessarily mean that every citizen within every continent on the planet needs a smart device to access crypto, but they would need access to smart devices in order tot check and manage their balance. As of right now, Fiat cash that you can hold in your hand and barter and trade with is king. What will the impoverished and downtrodden people of society do who don't have the money to afford smart devices? Do we give them paper wallets instead? the world could never run solely on cryptocurrencies alone, its stupid at the moment and doesn't make sense. |
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The Shanghai Headquarters of the People's Bank of China said that in the process of promoting the blockchain technology, virtual currency speculation has gone up. Next, the cryptocurrency business activities in the area will be continuously monitored. Once illegal activity is found, it will be punished immediately, and it will be done early and prevent it from happening. The Shanghai Headquarters of the People's Bank of China said it would rectify illegal cryptocurrency speculation and remind investors not to replace cryptocurrency with blockchain technology. As soon as the news came out, Bitcoin’s market was also affected by it. It recently broke through the $7,000 level and continued to go down.
I'm not quite sure if this could be considered as either positive or negative news. The Shanghai headquarters seems to be in good spirits with this promotion, even it it seems like an attempt to profit in on the increased amount of speculation. Either way, whether good or bad, it's a very smart and strategic move. Maybe other countries will follow within similar footsteps, because it seems like Blockchain tech has taken the world by storm. I'm quite sure nobody wants to be left behind on the innovation, not even the governments. |
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Are token sales pulling investment still, or is it dead?
Sources to facts and stats to support opinions would be great
I don't think that you need great proof to know if the ICO/IEO/STO market is thriving. Just check the announcement forum here within Bitcoin talk. Seems to be doing well from my point of view. As a matter of fact, just check the Altcoin Marketplace forum here on Bitcointalk, then go to the Bounties section, that should be all of the proof that you need in order to know whether or not these crowdfunding vehicles are dead or thriving. |
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Hello Bitcointalkers,
What is your best investment in the crypto space since 2018? As the 2019 year is ending, so, we can have a discussion about it. For me, my best investment was the Counting House ICO in 2018. The sale price was 1100 CHT token for 1 Ethereum and later it's price hit more than 3 USD per coin. I am still finding a project like Counting House, but haven't seen yet.
Unfortunately I haven't had any good investments since 2017 when the ICO market was freaking booming. In 2018 I had invested around 1.5 ethereum within the Coinbase backed business venture "Gods Unchained" Trading card game, but I have yet to see any returns, even though the market just opend up yesterday. My collection of cards is supposedly worth around 7 Ethereum according to their spreadsheets for cards, but I haven't seen a dime yet, meaning nobody has purchased any of cards. I guess it is too early to say, I hope I can at least make a return upon investment. |
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Despite Bitcoin plummeting in value, it seems that whales haven’t lost their appetite. One major BTC whale just withdrew 12,000 BTC ($89M) to an external wallet.
The market is in chaos today as Bitcoin experienced another double-digit drop. Just a week ago, Bitcoin was trading at $8,700 — it is now trading at around $7,100. For the first time since May 2019, the market capitalization of the entire cryptocurrency market is under $200B. According to the Crypto Greed & Fear Index, the current sentiment is one of ‘Extreme Fear.’Source link hereLook guys, I know how it feels when we are in a bloody market. Correct me if I’m wrong, but there will be two scenarios about this Bitcoin whale: Scenario 1: He bought it at a higher price and withdrew it while Bitcoin is on a bloodbath. Scenario 2: He bought it at a lower price years ago, and withdrew it without even have to worry about the bloodbath. If there would be another scenario, what would it be? Can you share it here guys? Thanks in advance! I really try not to watch and count other people's money if I can help it, but in this case, since my money is tied into crypto, it is affected by another's money and transactions because they have the biggest stake within the market and the community. That's my only caveat with Bitcoin and Cryptocurrencies, if a whale decides to, they could literally crash the whole damn market just by shifting a few thousand Bitcoins around. |
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