In my point of view, Bitcoin can possibly replace the fiat someday. Like for example in the other country which they had decided to regulate Bitcoin legally to their own territory place and that is Japan, India and more. This is shows that Bitcoin has a big future waiting ahead someday, where the prediction of many particularly the bitcoin experts that bitcoin will become the world currency.
Neither Bitcoin nor any other decentralized cryptocurrency can ever replace fiat with it. Cryptocurrency can only go as an addition to the national money of various states. No state will ever decide to abandon their national money in favor of a decentralized cryptocurrency. This simply can not be. As long as states exist, their national money will exist both in cash and non-cash. |
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If you don't know what stablecoins are, read this Wiki article With that read, there is an ongoing dispute over the advantages of these coins before Bitcoin and other cryptocurrencies. Many suggest that they are not actually backed up by real currencies or other assets as the companies behind them vigorously claim, that they are centralized beyond any hope, and without proper audits they can be printed out of thin air just like fiat money, which would culminate in their hyperinflation, devaluation and failure For simplicity's sake, let's assume that these accusations are unfounded. So do these coins have any advantages compared to Bitcoin under given assumptions? In these conditions stablecoins essentially become fiat that they are representing, i.e. the US dollar, Euro, or whatever. So the whole thing is not so much about some stablecoin versus Bitcoin but rather a good old question of a fiat currency versus a cryptocurrency And I guess you already know the answer to that question Stable coins are actually needed for ease of use of cryptocurrency. In fact, they are not and cannot be profitable cryptocurrency. Storage of funds on them, as a rule, is temporary. Therefore, I especially do not even care if they are supported by fiat or not. Decentralized cryptocurrency, for the most part, is also not supported by anything. All cryptocurrency is moderately risky and you should always remember this. |
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These are all old topics that are over a year old. Even if Russia ever releases its fully centralized cryptocurrency, it will be for the sole purpose of circumventing international sanctions. Citizens, even this coin is unlikely to be free to use. And no sense in this will not be.
If Russia wants to release its cryptocurrency by the middle of 2019, let them release it. Then we'll see and talk. And now it is too early to discuss what is not and may not be.
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Don't you feel like once the bitcoin price goes up, the main holders will be the banks and large financial institutions?
I don't think so. Banks will definitely not play such risky games. They have their reliable traditional ways of making money. And without the slightest risk or with minimal risk. I know bankers. Without almost one hundred percent guarantee that the money invested by them will return with a profit, they will not invest. These are all unsupported fantasies. |
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At first I did not pay attention to the date of writing the topic, it was written almost a year ago. During this time, nothing has happened in the implementation of cryptocurrency in Russia. The Russian leadership only speaks about cryptocurrency, speaks contradictory and more negatively. By July of this year, they planned to adopt laws on cryptocurrency, but they did not accept anything. They can accept a crypto-ruble only when international sanctions are too tight and only for the sole purpose of circumventing them with the help of their centralized cryptocurrency.
Freedom to its citizens regarding the use of the rest of the cryptocurrency will not be given there. As long as Putin’s regime will rule the country, it is unlikely that the citizens of this country will be given the right to use the decentralized cryptocurrency openly and freely.
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I think that nothing will happen at the beginning of the next year. The beginning of the year has always meant a temporary lull in the cryptocurrency market. After all these events and vain expectations of market growth, I think that at the beginning of next year there will be a festive calm in the market. In addition, after disappointment in waiting for the market to rise at the end of this year, no one will immediately invest in cryptocurrency. We need a definition of time for the market to gather strength for growth.
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Of course, only the retention of cryptocurrency for a long time does not always bring long-awaited results. This year, many should have been convinced of this. If possible, you should use the price fluctuation of the cryptocurrency market. It is very suitable for this, given the high price volatility of cryptocurrency. If someone does not have time to keep track of the constant market fluctuations, it is advisable to do this even with large and significant rises and falls of our specific coins and tokens. This will be much more effective than regular long-term retention.
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Honestly, if you have to ask that question stay away from this market to store your money as far as you can  . Try to look at traditional markets like gold if you really want a place where you can store your money for 15+ years. That's for sure. The cryptocurrency market will always be unstable. Keeping your money in them is quite risky. Here you can win, and you can lose. If you are going to be stored temporarily for investing in a cryptocurrency, only then you can choose stable coins. If we are talking about the usual long-term storage, it is better to choose the traditional methods of their storage - banks, gold. |
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No wonder. The Ukrainian government has long been using blockchain technology and is quite loyal to the functioning of cryptocurrency in the country. In the Verkhovna Rada, the legislative body, there are several good bills on cryptocurrency, including the complete absence of taxation on income in cryptocurrency, as well as the withdrawal of such taxation for a term up to 2029.
Since the topic of corruption is still relevant for Ukraine, of course, Yulia Tymoshenko, as a real contender for the president’s election, should use this opportunity in her election campaign, even if it is pure populism. However, in any case, if she becomes president, the blockchain technology will be actively introduced by two in Ukraine.
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Putin is actually complaining about his own actions, saying that the violation of the rules of international cooperation, which have been forming for a long time, becomes a new rule. It is he who is violating all international norms now by his actions. At the same time, he obviously does not want the international community to take adequate measures against Russia. It is he who begins to saber with weapons everywhere, trying to solve everything by force. His private army and the army of mercenaries, not only in Syria and Ukraine. So what does he want? The community has the right to unite against the actions of the aggressor. Now it is because of Putin that the world is moving at a fast pace towards the Third World War.
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No, this is too exaggerated. There are many fraudulent projects among ICOs, but not 99 percent. I participated in many ICO projects that have been working until that time. In my practice, some 60-70 ICO projects have remained working. Therefore, the ICO, even with the current fall in the cryptocurrency market, can still work, although it is very difficult for them.
In the activities of ICO, we are waiting for government regulation, only it can solve the current problems with fraud in this situation.
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Of course, cash must be used in every state along with other forms of cashless payments. Not all people can or want to use non-cash forms of money and their opinion should be respected. In addition, I think that in many cases, small transactions are much more convenient to make using cash than non-cash payments, which are associated with the availability of technical equipment and require dependence on many other factors.
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There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.
KYC verification is generally illegal for bounty hunters. We are not investors and should not pass such a test. Moreover, if the ICO teams try to deceive bounty hunters and announce such a check after the end of the ICO, when it is already meaningless and logically can only be carried out in order not to pay the tokens earned by us. We need to put an end to this disgrace and permissiveness of the ICO teams, this wild period in the history of the ICO, and go to government regulation with clear rights and obligations of the parties. |
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If there was an alternative currency (paper money) unregulated by the Government would you use it?
Of course not. It would be useless paper. The whole power of paper bills is that they are issued by states and their circulation is mandatory for use on the territory of the state, guaranteed by the state and supported by the material values of this state and its gold and currency reserves. If such bills are guaranteed by individual business structures, these will actually be their shares, these forms already exist, and for this, nothing extra need be invented. Everything has long been thought out and works. |
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Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks
Decentralized cryptocurrency will never be prevailing in the financial relations of society. She is simply not capable. Apparently, it will be used primarily between individuals and only partially when paying for goods and services for settlements with legal entities. I personally would not want us to completely switch to the use of cryptocurrency, because I do not want to depend on technology. They create a lot of additional problems. The simpler the financial relationship, the better. Paper bills are the result of several millennia of improvement in our financial relations. This is the most convenient and fast form of payment for small and medium-sized purchases. |
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Cryptocurrency can increase the economy of the state a little if it is used along with the national money of the state. To destroy the economy of the state cryptocurrency can not in any case. It can unregulate the economy of the state if the government makes a rash decision to switch to cryptocurrency instead of its national money, which cannot be practiced.
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Money is one of the important concepts, This section talks about money from the perspective of microeconomics.when people exchange goods and services without using money, this is called barter. "I'll cook dinner if you'll do the dishes" is an example of barter. Imagine an economy in wich i can sell services as a consultant to banks, but what i want is to buy a new suit. the clothing store that sell suits does not have any use for my services as a banking consultant. i sell consulting services for money, and i buy a suit using money. money serves as a medium of exchange. the bank does not sell suits. how can barter work?
The need for barter arises only when, due to various large upheavals in society, the national money of the states depreciates greatly. The presence of paper money is a higher degree of development of financial relations in society compared to barter. Barter symbolizes the backwardness and underdevelopment of the market for goods and services. |
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Banks are going to stay but will eventually change significantly, guess to a somewhat extreme extent, totally unpredictable for now.
Once people start putting more power in crypto (i.e. laws of math) & each others and less in traditional mechanisms of trust between financial counterparties, a paradigm shift in society's mind would become inevitable.
In my opinion banks will have to accept cryptocurrency for their survival. If they do not use crypto in the future, they will disappear from the markets, because people are withdrawing their money from their bank accounts and putting in banks because banks use people’s money for themselves and give nothing or very small profit to customers. Nothing happens to the banks anyway. They were, are and will be as long as the state will exist. Even if the banks did not work with cryptocurrency, they would still feel great. Cryptocurrency will not have such a serious impact on the financial activities of mankind, as many imagine it. Cryptocurrency will always have a secondary role compared to the usual currency and will never replace it. It will be used primarily by citizens, and not by states and their bodies. Even business structures are unlikely to massively use cryptocurrency due to its high volatility and poor documentary evidence of ongoing transactions before tax services and audits. Still, banks are better suited for business structures. |
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I no longer believe that ICO projects are becoming more mature, because fraudsters still exist, and if these fraudsters can't be punished, the ICO market will only face death!
You are absolutely right. Without addressing the issue of eliminating fraud in ICO projects, this activity will only lose its value. The only way out of this situation is the regulation of the activities of ICO by the states. Only they can restore order in this kind of activity. Many states are taking steps in this direction, but it’s hard to say when it will give real results. |
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In my opinion, there is no risk-free projects ICO yet. With this ICO, no one can guarantee either that in a year this project will still exist and will not disappear like many other projects. If things go wrong with them, they will also not be able to fulfill their obligations to return funds for their tokens.
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