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Either way, knowing bitcoin is coming up to televisions is great to hear, given that it's positive and not connected to negativity. Television shows are quite powerful in disseminating information to the innocent. Most people know that bitcoin is related to payments made in deep web, when in reality, bitcoin has the potential to be the next digital currency of the era. Still though, we cannot deny the fact that its being used illegally. If we only had central institution to regulate crypto-related activities, then maybe we could lessen these instances.
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I think there is still a way to overcome the problem of scamers in this crypto room (but I'm not saying to eliminate it completely). . This might not have a big effect but at least it can reduce some of the fraud projects that exist in this industry. . like avoiding and not promoting suspicious projects repeatedly. .
I have always observed that many of them and even have high ratings but still support suspicious projects, especially participants (social media).
maybe this is one reason why many fraud projects are increasingly rampant, because someone always gives hope to them and makes someone trapped in it.
so what do you think?
I draw the conclusion above based on what I saw there.
One way is to impose regulation by having a central committee that will oversee crypto-related projects, to minimize scams and would make the crypto-space much safer. By saying a central committee, doesn't mean having a centralized agency that would manipulate the prices, they would just manage all projects making sure they conform with security standards, mitigating threats of scams and thefts, and in general would make the market more plesasing to potential investors. |
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This could potentially be bring positive feedback to the whole bitcoin network. Other countries would start looking and considering legalizing bitcoins with their own regulations to exchanges and projects. However, it's still too early to say it would be successful. But it's good to see adoption is starting. Bitcoin would likely be the next digital mode of payment for larger amounts, an alternative to currently existing digital fiats.
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HTC, one of the leading technology based development company has come up with the first cryptophone EXODUS 1S which is completely focused on the cryptocurrency users. The importance it gained is through running a complete bitcoin node allowing to confirm and validate transactions. The smartphone configuration is not that attractive, but mentioning it a cryptophone adds value to it.
It signifies that cryptocurrency is slowly being adopted, and now reached even the smartphone industry. It offers more publicity and awareness to the people about crypto and introduces the term to them. It also implies that crypto won't be gone too easily and has great potential of becoming the next mode of currency, aside from digital fiats. However, it does not do anything rather than help the bitcoin network validate transactions faster. It's like donating time and resources for the future of bitcoin, but it's not that feasible since running a full node on a PC is much better and faster than on a phone. |
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Every method to increase comes with a risk. You can day trade but the risks are also high. You can lose parts of your funds and may make you regret even going trading. Best option is to hold for the moment. If you're patient enough or have enough time and money to still pay your needs, it's best to hold since bitcoin would increase in demand as digital currencies are getting more relevant nowadays. Don't mind the price fluctuations, just hold some but don't invest all your funds.
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It depends on the time the collapse happens. If the collapse happened at a later time when digital currencies are at its peak and bitcoin would be one of them, bitcoin may also be hoarded by the people. It would be considered valuable as its demand is higher and is a good investment, alongside with gold. However, if crash would happen sooner than we think, people may not still hoard bitcoin, instead gold would be the best option or other rare materials because it's more necessary and valuable for people.
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There seems to be a trend not yet recognized by many experts and that is the withering interest of the people on Bitcoin, especially if we compare today with the days of 2017 and early months of 2018. Of course, we could not expect that people will always like, search and talk about Bitcoin for years. There will always be a plateau and a possible downtrend, sometime somehow.
Is this something we have to accept or should we do something about this?
We can do something, but even if we don't, it's will inevitably become popular because of the digital age. If people will start looking into digital modes of payment, higher chance is that they'll hear, and probably learn about bitcoin. Don't be too afraid that bitcoin will be obsolete because it's highly unlikely to happen. Constant growth of bitcoin is evident and not only bitcoin, but the whole blockchain, is continuously adopted to different sectors and services. It may be slow but it'll surely grow in the right time. |
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All of us - the people present on this forum all know Bitcoin and all coin famous. But I think the future development of digital currencies to replace banknotes or banks depends greatly on one of the following factors: 1. Qualifications and knowledge of the people. Because the majority of people today do not fully understand block-chain and technology. So if you want to use cryptocurrency like paper money today, all people have to know how to use technology 2. Smart phones - Must be integrated with technology to make it convenient for people to use 3. Simplification of cryptocurrency developers. How can people easily use like paper money. And what do you think about my opinion?  The first thing for me to consider is global economic stability and elimination and mitigation of poverty especially in third-world countries. If corrupt practices are eliminated, with good governance, decrease in poverty would follow, and all would follow, from technology to education. After those only we can start building the real global adoption of digital currencies and bitcoin. But as of now, these modern modes of payment are still restricted to those who have the capabilities, first-world and some second-world countries. |
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Its great to know that these cities already exists. We're nearing the age of adoption and bitcoin will surely lead the cryptocurrency race despite its volatility. Other countries also does not prohibit bitcoin, but the adoption by the public is just not significant to be included in this list. Soon, we might see bitcoin in transactions involving large amounts of money, eliminating the need of paper cash and instead, just having QR codes to bitcoin addresses for people to pay into.
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Do you think that banks, governments and investment companies such as Goldman Sachs, JP Morgan and other will try to replace the decentralised coins and try to lure their clients to invest into their own private blockchains? What can be done to prevent that?
I do think they'll join the race and compete with their own cryptocurrencies, but I'm not quite sure if larger percentage of the public would want to use it, or the other way around. Investors and holders want security and is willing to give KYC just to protect their coins. Others however, with enough background of how decentralized crypto should be, would not be attracted to these newer cryptocurrencies. Altcoin industry is for me, too condensed and they'll be like just another ICOs in play. I also think they would control the supply making it somewhat stable, which is good as payment but bad for trading. |
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(Reply to OP) - I do agree to some points. However, we'll tend to sacrifice privacy and anonimity for security of our personal funds. They will surely impose KYC, identification of addresses, and would be able to track their own cryptocurrency's network blockchain, which would not be feasible for other users. But sacrificing those privileges we get from the most cryptocurrencies, we'll get in return security if ever thefts or scams might happen. We may also be able to retrieve funds from deceased family member, or those sent on the wrong address. All of these are going to run under a centralized system though.
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We can't predict if the altcoins would fall into death or recover. However, the situation now seems to be more stable. Bitcoin has already proven itself and the trust of investors. Unlike altcoins, bitcoin would be more likely to prevail and increase in price, even if it fluctuates in high amounts, its demand would increase as we progress in the digital age. Adoption is gradual and acceptance is noticable in different sectors for bitcoin. It's a challenge for day traders but if you believe in crypto's dominance in the future, investing is never a bad thing.
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Please, at least give some abstract to what your point is. Not all people have the time to watch lengthy videos just to answer a point. However, basing on the subject, I think what you're talking is the panic regarding deflation. As it may sound terrible, I don't think it would crash too much. People would still buy and sell bitcoin according to their personal needs. Price would still fluctuate, the market will still be determined by demand. |
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We've all seen this phrase before: that the government and/or banks will more likely to create their own cryptocurrency, but what are the odds that they really will? How can we be sure that these two sectors will create their own coins eventually and will it even change the game if they do? If they did, will it not threaten bitcoins and altcoins because the common people who haven't heard of bitcoin before might choose to use these bank/government-created coins instead? Do we really need more coins?
I don't think it would much be an impact. There are several altcoins currently existing in the market and if they decided to join, they'll just another cryptocurrency out there in the condense altcoin market. And people wouldn't trust it so much since the government/banks want everything monitored, the odds of their crypto being decentralized is low. They'll probably implement KYC and all data would pass through their central system, which isn't very much attractive to people. |
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Let's discuss the potential effects of stable coins which are bound to usd or eur. We usually use them to avoid the volatility or short bitcoin in a way. There are many stable coins in the last year. By writing threat, I didn't mean issues like tether's issue. I mean, they are not coins, they are just usd and eur.
I don't think there's any threat to bitcoin as of now. Bitcoin still prevails as the most used and trusted by many cryptocurrency users. Stablecoins are controlled and somewhat centralized, it is condtradicting the essence of crypto being decentralized. Stablecoins is much preferred when using as payment because price fluctuations are minimal. However for day traders, bitcoin still would be widely used sincetraders want price action to gain profit. |
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As miners get close to the maximum volume of bitcoin, their reward gets smaller. But even though given that fact, we are still considered close to maximum, and demands would start to rise. The price would continue to rise as deflation would occur, which is I'm not really sure if it would be good or bad to the future of bitcoin. If it's value goes too high, then people will just hoard and bitcoin exchange would slow down. If no one wants to use it, then that could impose threat to bitcoin in the future.
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We'll see if they would implement identification of addresses to their planned cryptocurrency. If they do so, then it's no different to current banking system. I also don't agree on Facebook doing Libra because first, I think it would just fool people into thinking it is private when in reality, when used with Facebook platform, they are still identified and nothing is private. However, even if the feds make their own, I don't think people will trust it because the government surely does not want lose of control and surveillance to what people do.
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I think it's more of the culture and literacy background of the person that leads him to his perception. Some people are just close-minded and as soon as they knew that bitcoin isn't a tangible asset/investment, they just throw away any ideas and argument you throw them. Most older people are like this. Others just does not want more hassle in learning new technology and just sticks to the conventional. Others however, does not care to the context and just uses what works for them.
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For me, it can be used as an alternative mode of payment. As of now, it's really difficult to replace fiat and it's much easier to make small payments using fiat. But bitcoin excels when sending payment across borders without limit, from anywhere, without having an intermediary that logs everything you purchase or transact. It's not the use case for bitcoin to replace small payments as of now because of slower transactions and volatility, but in terms of it being an investment and medium of payment for larger amounts is where I think it can be used.
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So if you are a solo miner, not part of a mining pool, and makes freshly mined virgin bitcoins, then you'll become a target of interrogation once illegal activities had been taken down and the bitcoins used came from your address. However, this isn't that great of a concern since your address is probably not identified to your identity. Bitcoin is used in illegal activities and virgin bitcoins could have values more than its really worth.
Other altcoins are not viable most likely because bitcoin is the one most dominant in the market.
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