You watch too many movies, there is no conspiracy lol
Agreed. What I have yet to see, after 7 or 8 years of reading about how some banker or government is going to destroy bitcoin, is HOW they are going to do it. I will continue to ignore these threads until there is at least a viable theoretical method for crushing bitcoin. Maybe its not about how the government destroys BTC, but how they regulate the hell out of it and make it very hard for ordinary people to use. The exchanges are the weakest links if you ask me. They might start attacking those. But who, banks? banks have no legal authority. On what legal grounds? Why do I have to use an exchange? I spend my coin not sell them, so I don't need an exchange. And if my government were to "go after" me... I would just move to another country and take my money with me. I don't think you will be leaving the Earth any time soon. Because it is not about some government going after you. Today they are all after you. Well, not quite today but you get the point. If all major countries collectively outlaw Bitcoin, where will you go? Exchanges are the weakest link but they are not the only link in the chain which connects you and your bitcoins, metaphorically speaking. And they will find a way to sever it. I do understand what your concern is. Banks could use their power to lobby for laws that restrict bitcoin, etc. I think that is happening to some extent. But their power is limited and the world is a huge complex place far beyond the control of banks. Banks are in competition with each other and could make huge profits servicing bitcoin. It may be just the ticket for some small bank to explode. Why wold such a bank want to hurt bitcoin? There is also the problem of people just using it anyway. There is no central authority to stop me from using it. And the government has not complained to me about the checks they receive quarterly. What's their incentive? I also see what your point is. Banks supposedly could make some profits working with bitcoins, though I doubt if they would be huge. First you say yourself that you don't need exchanges and likely neither do you need banks so you are sort of contradicting yourself here and your claims. And then Bitcoin is not used anywhere near to being universally accepted in the world even if the world is "a huge complex place far beyond the control of banks". In short, it is not so much about you using Bitcoin as it is about other people using it too. |
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You watch too many movies, there is no conspiracy lol
Agreed. What I have yet to see, after 7 or 8 years of reading about how some banker or government is going to destroy bitcoin, is HOW they are going to do it. I will continue to ignore these threads until there is at least a viable theoretical method for crushing bitcoin. Maybe its not about how the government destroys BTC, but how they regulate the hell out of it and make it very hard for ordinary people to use. The exchanges are the weakest links if you ask me. They might start attacking those. But who, banks? banks have no legal authority. On what legal grounds? Why do I have to use an exchange? I spend my coin not sell them, so I don't need an exchange. And if my government were to "go after" me... I would just move to another country and take my money with me. I don't think you will be leaving the Earth any time soon. Because it is not about some government going after you. Today they are all after you. Well, not quite today but you get the point. If all major countries collectively outlaw Bitcoin, where will you go? Exchanges are the weakest link but they are not the only link in the chain which connects you and your bitcoins, metaphorically speaking. And they will find a way to sever it. |
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The talks about FEDcoin has been doing the rounds since 2014. The purpose of FEDcoin would be quite simple, digital tokens of dollars, replace cash, enforce a complete centralized privacy-less cryptocurrency upon the masses. It's likely that the Federal Reserve might attempt to come up with something like FEDcoin, the last arrow in its money quiver, but for it to gain any mass acceptance, people would have to choose it because there isn't any other choice/no alternatives and precisely for something like that to happen the whole decentralized crypto market should be non-existent. Do you see something like that happening anytime soon? No.
In his prediction Doug Casey talks about the Fed making sure that Americans actually use this cryptodollar. As I got, it means that the use of this coin will be obligatory. For example, they could force you to pay taxes with it. And that's the whole idea behind it! If we separate the wheat from the chaff here, in essence, it all boils down to creating a new dollar and then possibly declaring the old dollar no longer legal and valid in the US. The rumors of such development have been circulating for at least a decade. |
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The U.S. Federal Reserve will not only issue its own cryptocurrency but will also make sure Americans use it. That’s the prediction of currency guru Doug Casey who has an uncanny record of being correct about economic and political trends. His latest book, Surviving Fedcoin: How to Protect Yourself (and Profit) from America’s Coming Currency Change, is a public bet that the U.S. government will issue its own bitcoin which Casey views as “the last arrow” in its money quiver.  https://news.bitcoin.com/fedcoin-u-s-issue-e-currency/If you mean Fedcoin as in shitcoin, then they don't need to create anything. The American dollar is the ultimate shitcoin with trillions of debt, and expect a lot more to come in the next couple of months. That said, they could go for a coin which would be backed up by gold, and common people won't be able to get it since it will be used to protect the wealthy from the imminent collapse of the dollar. The rest of the population will be left with nothing in their pockets, like many times before. |
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The long-term goal of the bankers isn’t to kill the cryptocurrency market it’s to control it. One of the methods they always like to use is to create a crisis then position themselves as the solution. It wouldn’t surprise me if they end up manufacturing a crash or a large security breach at a major exchange while standing by ready to pounce saying “see we need some order and regulation in this market”.
They are trying to control it simply because they can't kill it or killing it in the literally sense of the word, when no one would be using any cryptocurrency, would be prohibitively expensive. They are just trying to make crypto contained at least and irrelevant at best. You cannot kill a hydra but you can still put it in a cell. That's what they are basically trying to do. |
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I know that with small transactions is fine, under the radar basically, but what happens with significant ammounts?
I have a friend who tried to withdraw more than 20 bitcoins in order to buy a House in my country, he couldn't because the bank was making a lot of trouble regarding to that "money". In fact, he couldn't withdraw that money, and he is contacting a lawyer because of that. But yes, those transactions are never going to be under the radar.. Lmao. But these are fiat transactions, not Bitcoin's, right? You first convert your bitcoins to fiat at some exchange and then withdraw the money to your bank account. Any bank can start asking questions about the origin of this money, and this is sort of understandable. But as long as you don't cash out, Bitcoin is pretty anonymous for most intents and purposes. Of course, if you are a guy like Ross Ulbricht, they will do everything to track you down, Bitcoin or not, but if you are not, it may be prohibitively expensive to track everyone else. |
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But soon it will become way harder to earn money from crypto with all the regulations coming from everywhere in the world, exchanges will be a pain in the ass asking for your identity and other stuff, they will have to send informations to the banks even before you cash out
I fully agree with that. To avoid being trapped by the forthcoming regulations, we need truly decentralized exchanges that would allow free exchange of different cryptocurrencies without dependency on third parties like today's online wallets and exchanges. In fact, we should have had them yesterday, while tomorrow may already be too late. This seems like the only way to escape from life-choking rules and imposed by governments. |
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I don't believe banks are really killing the crypto currency market although you are right that they don't want cryptos because it could somehow be the reason why banks are going to die but the way I see it instead of killing cryptos banks are trying to find ways were they can offer services so that they can support the digital economy in fact banks are the one who first help people to convert and cash out their bitcoin and transfer it to their bank account
The governor of the central bank of Germany recently said that cryptocurrencies need to be regulated at a global level because national and regional regulations won't suffice. What that means for Bitcoin and other cryptocurrencies is everyone's guess. Since its inception Bitcoin has been enjoying almost complete lack of regulation in most countries but these times may soon be over. Banksters will never let it go again. |
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There may be two sides to the deflationary coin.
On one side, supply decreases. On the other side, the value of the coin increases as it becomes rare. The two forces can mutually compensate to create a balance where they'll cancel each other out.
The main concern with deflation is scale, value and base unit. With 8 digits to work with on the right side of the decimal point, deflation becomes less of a concern.
With real numbers 1 bitcoin is only 1 segment. Using the 8 decimal places to the right 1 bitcoin becomes 100,000,000. That provides plenty of growth space for bitcoin's to be broken up into smaller fractional elements if the need arises, or under circumstances where bitcoin's go out of circulation due to deflation.
There is a third side to this coin which people often miss or forget. When Bitcoin price rises, so do the transaction costs. They may remain the same in satoshis but they definitely grow in dollars. Dollars is what ultimately matters to most people, and the transactional costs become prohibitively expensive at a certain price. So it is not only scale, value and base unit. There is also at least one extra factor at play here. |
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Yes, most coins have received a severe blow in the face today. But what would you expect? It is not all beer and skittles anyway, and banksters are not going to give up easily. This had to be expected, we could only have hoped that Bitcoin would be ready for this moment. Though so much time has been lost in vain, in futile struggles and arguments. It seems now that major threat comes not from the bankers and governments but rather from inside.
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My questions is not on the technical side, since obviously you can create an address in a very much anonymous way. However, when it comes to spending it or convert it into fiat or even when spending it on a legit shop online you have to leave an identity trace. I know that with small transactions is fine, under the radar basically, but what happens with significant ammounts? I am asking this because I intend to become rich in 4 or 5 weeks  I think the question you ask has nothing to do with Bitcoin as such. When you buy something with your credit card in an online shop, you still have to leave a lot of personal dat like delivery address, you name, maybe something else. And how you think that could be different with Bitcoin? Apart from that, if you are going to become rich as you say and buy something expensive like a house, you will have to do a few legal things which will leave nothing of your anonymity, Bitcoin or not. |
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Weren't they doing exactly the same exactly one year ago? Correct me if I'm wrong on this, but hadn't they already banned their exchanges in January, 2017? Well, since they are banning them again, they are obviously going to unban them in a short while, again. Unless they ban them for good. Or so they promise. On the flip side though, the price has been in correction for quite a while already. It kinda takes too long, so couldn't it actually be different this time around? I mean to say maybe we have peaked now, and there is only one way left, which is down. |
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Bitcoin is based on an increased demand an a deflationary supply, however that eventually leads to a coin that people don´t use to trade or to transact. What do you think that the emission rate of a crypto should be to be used as a coin? Any automatic mechanism to adapt exists?
Bitcoin grows in price not because it is deflationary. As a matter of fact, it has been quite inflationary so far. New coins are created every hour (actually, every 10 minutes on average), so it is inflationary. It grows because demand exceeds supply and that can be true in respect to both inflationary and deflationary coins. If you really want to ask whether a small inflation is better than deflation for a currency, then I will likely agree with you. |
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bitcoin prices continue to rise as this is one of the causes of increased bitcoin users, whose goal is to change a much better standard of living, give your feedback on this?
It is true that bitcoin helps people to earn their own money or as well make some people rich. Let us keep in mind that not all the time, we can be successful in bitcoin. Sometimes, we can experience downfall and we can lose a lot of money. In order to prevent that to happen, we should have enough knowledge first about bitcoin and how it works. In that way, it will increase the chance for us to be successful in the future. It has really helped a lot of people and I’m part of it. I decided to quit my job when I realized how much Bitcoin would give me, compared to my job, so I got in full time.Luckily I’ve been able to achieve a lot through Bitcoin, making lots of money more than I’ve done in my regular job. I know Bitcoin can’t be a full time job, so I’m looking for a greater job that’s better than Bitcoin, as of now, I’m still into it. Bitcoin was growing quite nicely through entire 2017, and many people seem to have chosen to quit their jobs just like you did. But how are you going to live via Bitcoin alone if the price starts to go all the way down to where it had been a year of even two years ago? It is easy to make money when the price constantly hits new highs. You sell and then buy back or just buy more and then sell when the price rises. Simple, isn't it? But what about the price going down long-term? |
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That said, BTC will go to $70,000 and beyond, but it needs the lightning network to come around so this slow transaction speed issue can be dealt with. So the real question now is not when will BTC become 70k but rather when will the lightning network get deployed.
It definitely needs lightning network, but the market may shoot up even without it. I personally find further growth justified only if we have lightning network operational, mainly because of the fact that it stimulates further adoption and further growth. If we in the coming weeks or months have more institutional investors coming on board, we might see another rally get initiated, and this time may even reach the $30k level. The million dollar question (literally) is when we will finally have lightning network operational -- some people behind the scenes with this information will make easy millions in profits, and I am sure they will use that information advantage. It is doubtful that the market will be able to continue growing without Lightning Network activated. If we take Bitcoin as a basis cryptocurrency, its price has been hanging around $13-14k for over 2 weeks by now. If some negative news concerning LN comes out, that will most certainly send the prices down. So I'm skeptical about the market rising on its own, I think it is pretty exhausted now after all the hype and frenzy that we saw in November-December. |
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bitcoin prices continue to rise as this is one of the causes of increased bitcoin users, whose goal is to change a much better standard of living, give your feedback on this?
Bitcoin on its own exactly didn't make any one rich. The people who invested in the markets did. Technically, people got rich were only because other who were buying bitcoin at a higher price, and people who bought at less became rich. So good for rich people, bad for people who bought at a higher price? Not exactly, pump groups buy at a higher price than the prevailing market price, getting rich is an objective in the long run for a lot of people than in the short run. I don't quite agree with you, though I distinctly see where you are getting at here. Even if Bitcoin is mostly about speculation these days, speculation and profiteering is still not everything there's to it. Bitcoin can be used for other purposes as well, for instance, as a means of payment, however small that field of application might be. And if we look at it from this angle specifically, it can be said that it has quite enough potential and capacity to make people rich on its own. |
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What are the positive and negative impacts of MATERIALISM?
What do you mean exactly by materialism? Do you mean a philosophical doctrine or concept that only physical matter exists for real, while all things like soul, spirit, God are only a figment of our imagination, or something about an attitude toward money as well as material things and high importance of them in human life? |
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It depends on a person but in general I think not because even though you earned a lot of money and you can buy all your wants and needs but you don't have friends and love life you will become boring when you get older and when you got sick no one will care about you except of your parents and brother/sister.
Did you mean to say that you would become bored, not boring? Since I don't think how you can be boring once you have plenty of money. In fact, you would be quite interesting to the people around you. Indeed, they would mostly care for your money, not for what you really are but who cares? You can always make fun of all these little beggars sticking around you, right? |
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Society without money sounds exciting to me. There will always be chaos from start of implementation but i think we can adjust. Just like before money was introduced we used the barter system. Maybe we can use digital currency as substitute to money.
It would be a disaster if done for real. Money is what makes the current division of labor possible. Without money, the world would quickly deteriorate to a state where it had been a few thousand years ago, to simple self-sustained production with billions of people having to literally die in the process. I don't see how that could possibly look exciting, though it depends on your point of view. |
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