What do you think, how many people are ready to sell their goods or services on crypto? Let's say that we have service which help quick and easy to build online store and sell for cryptocurrency. What kind of reasons can motivate people to start a crypto business?
If cryptocurrencies are more stable, and in case of bitcoin, transactions are faster, then probably even small businesses would look into it. But with the current limitations and capabilities, I don't think it's viable for these small businesses to adopt, not as of now. It's only applicable to large enterprises where it can attract more customers. It'll be profitable unlike with the small ones. Small businesses, with limited customers, would just suffer with price changes since every small amounts to them is huge enough and can mean success or failure to the business. |
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It really depends on how you see the market and the technology in the future. If you foresee that bitcoin would just continue growing and there's nothing to stop it, for example, a revolutionary altcoin or more strict regulations, then for you, holding bitcoin even in small amounts would earn you large profits. But for short-term investors, it isn't a good idea. They'll just waste time and money if they hold and does not intend to keep it in the long run.
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I believe there's a better system to be invented at the time centuries ahead of us. When digital currency is almost fully adopted by all, transactions are held online, limitations are gone and fiat is non-present, where smart devices are a neccessity instead of luxury. Those times are far ahead but I believe there will be something far better from bitcoin, surpassing bitcoin's current limitations, from transaction speed to security.
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I don't think it would be good and I don't agree on implementing it. A taxless society is a society without government, without enforcers of the law, everything would be chaos. No one would follow anyone. As much as we hate taxes, we cannot avoid them and we should not. The problem arises when the people on the government has corrupted ideas. We cannot live on a perfect society since we, ourselves, the people aren't perfect. The government maintains order, we still need to use these centralized currencies and pay our part or else we would only live for ourselves.
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I'm not surprised with this comparison. Bitcoin is surely more stable even with future years than these altcoins which tends to follow a down trend. The market for altcoins is crowded, and altcoins have higher chance of failing than what the bitcoin already had done. But I believe that one day, there'll be an altcoin that would replace bitcoin, or another technology that would revolutionize and improve the crypto-industry. But not as of now, bitcoin remains solid and we're still in the early-mid stage of growth with the continuous adoption in different sectors.
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It's not impossible to happen. Transactions in blockchain are transparent, however they are hard to trace and since only addresses and amounts are included, and we don't have a database for who is the owner of these addresses, we cannot track these illegal activities.
KYC information is valuable, that's why some companies sell it to some sort of illegal markets, which should be punished by law. But since no names are included in the crypto-ledger, we cannot really track who's doing it or who's not.
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With all this price volatility,bitcoin is just "digital gold". Remove the price volatility and bitcoin will become a major retail payment tool.  Well, the problem with that statement is it won't happen. No one controls the price action to have minimal changes. It all happens when some whales want to or there's just major sell-offs. For me, it's more of combination of investment and gamble. You invest in the technology since you believe on its success in the future generations. But looking on short-term trades, it's more of a gamble since the risks are high yet rewards are promising. |
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The Bitcoin Standard is the first book I've ever read to simply explain the properties that make money valuable. If there were such a thing as a 'Bitcoin University', Satoshi's white paper would be covered on day one, and this book would be covered on day two. Get up to speed on your Bitcoin education. https://youtu.be/T4ltMvjGO5YI think bitcoin's limited supply and capacity to hold transparent transactions is what makes Bitcoin valuable. Also, I think the value is not invested in the money, but rather in the technology which investors believe would grow in the future decades. However, I'm not able to read the book yet. But I have heard of it and said that it was good. I'm planning to read it to further fortify my knowledge. |
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I just read a news about German government adopting blockchain strategy, Will this have a huge impact on bitcoin and do you think other countries will follow
It may have some impact, but it won't be that significant. Blockchain technology refers to the ideology of having series of blocks to store data, not the bitcoin and cryptocurrency itself. They may use it to store documents and government transactions, but not in creating a cryptocurrency platform. Or they may make their own cryptocurrency. Either way, it's good to see continuous adoption in different sectors in the society. |
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Of course, most attacks are conducted online since it's easier and vulnerabilities may be present in the system of the victim. Especially if one uses pirated softwares, embedded with keyloggers or clipboard fetching softwares. If one's not so careful, he might be fooled by some phishing sites. There's no 100% secure system, it really depends on the user's carefulness on handling transactions. As long as you don't install anything malicious, connect using secure networks only, and be alert on online activity, you'll be fine.
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These are some of the reasons why people who still does not know anything about crypto, doubts it's use. It's because they don't understand the true system behind, instead their mindset is influenced by these negative news that portrays crypto as scamming scheme. In addition, the network BBC is quite influential to the innocent public. Governments would begin looking and possibly regulating again its use. |
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The topic describes the issue for us. For us to become a decentralized, we should focus more on mass adoption. I know these may provide some mass adoption but with centralized adoption, it is useless and contradiction for bitcoin itself.
The good thing about these new projects is that they educate people regarding to what is crypto, what can it do, how does it work, etc. The bad thing is, they educate those same people in the wrong way. If these projects would be successful, the non-crypto people would only know that these systems are still governed by a centralized system, which is wrong. They should know the foundations of blockchain. |
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I still see growth of Bitcoin 10 years from now. There would be some rough times along the way, it's not a smooth sailing road given the oppositions, but I don't think they would be enough to stop Bitcoin and other crypto from being discovered and be held as an asset. Even nowadays, I see more and more services support transactions involving cryptocurrencies, except most of the banks of course. But I'm positive that they would eventually adopt the technology. It cannot be stopped, either it will continue to progress, or be replaced by a much better cryptocurrency.
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It's quite obvious that the Chinese government does not want crypto since they're a communist country, with the governmemt wanting to hold every aspect in their society. They don't want decentralized, free from governing ideologies. They want you to do what they think you must do. They're constantly watching their people and they don't want another currency that will oppose their own fiat that is not controlled by anybody.
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But what if the authoritarian government restricted the usage of internet, only made it available to companies and not to the public? I just wonder if it's possible to happen. But without that scenario in mind, it's really easy to bypass government restrictions and censorship through these Virtual Private Network service providers. It's a step more to make than without restrictions but it's not really that of a hindrance to people that wants to transact crypto.
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This just proves that Bitcoin and other cryptocurrencies are not just a one-time get-rich scam. The whole technology has potential and can be applied to different scenarios such as this. Transparency + irreversible transactions would gain the trust of the people donating to UN. This would also attract more donators since some of them are discouraged of the fees just to transfer funds, while in Bitcoin/altcoins, there's muh lesser fees to transact.
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I personally think that a regulatory commision is a much better option than this insurance companies. A regulatory board with integration to the government to enforce policies and laws regarding crypto, but won't go as far as controlling the market. The market should still be decentralized without control from the government. Their job will only be to distribute permits to operate for companies that want to engage or establish crypto-related projects. |
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At the moment, we really cannot do anything about that. We just need to be wiser in taking these bounties or in investing in these projects. A regulatory board would be great in designing and implementing policies regarding establishment of such projects, and someone would be held liable if objectives aren't met. It's not really centralized if that's what other people think because the board is only there for policies, not for handling funds.
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Hey everyone. Yesterday I've read an article about European countries opinion on Facebook's Libra. There are a lot of negative statements about it. (Not without Trump's tweets, of course). What's interesting - there were no official responce from Libra yet. But they still planning to launch it in 2020. My question is - will launching Libra change the statement 'cryptocurrency is not money' in better way or it'll make worse? If Libra would somehow be able to pull this off, their main aim is to change that statement, make the cryptocurrency as money, and maybe will be used to transact in their platform, the Facebook, which is not a plausible idea for the people in the crypto-space. The main idea is for crypto to be decentralized. That's why these news comes up, some of the companies involved expresses doubts. I think that change in statement would make it a lot worse for crypto, since government would fire crypto more being a volatile, can be a scam, or other negative statements. |
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I think it's only a coincidence. The correlation between the two is highly unlikely. It's funny to think that Avocado's trend would be an indicator to a completely different entity such as Bitcoin.
I'm just thinking, how did you come up seeing avocado's market? Did you just stumble upon it and decided to compare? It's funny though, a good laugh amidst current market's status.
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