The last week has been a little bloody... And yet, after all we've been through, I have grown numb to this feeling. Stress, sleepless nights, etc... these are all a thing of the past. In fact, I just had a delicious breakfast with my girlfriend. For those of you that are scared of the current situation, awaiting for a sell-off, its best to remember the long-term benefits that Bitcoin and crypto bring to the table. I recently wrote an article outlining the most important ones. Instead of getting sweaty palms thinking of the next 24-hours, use your time wiser and educate yourself by reading my post: https://paybis.com/blog/benefits-of-cryptocurrency/Hold onto your BTC, we are the future millionnaire generation. It takes a true believer and a great investor to understand the bitcoin market. This is not the first time the market value of Bitcoin has dropped and its not gonna be the last time. It might be really difficult not to panic when the price of Bitcoin drops like that. But i believe and think the value of Bitcoin will be hitting $10k very soon before 2019 comes to an end. Now is the time to buy more bitcoin if you are looking forward to make a big out of your bitcoin investment. |
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every time Bitcoin goes down a legion of experts show up with a lot of theories. I believe these crashes to be orqestrated by whales who have been accumulating btc. The halving is coming, so sharks and whales should be using several techniques to gather more and more coins. This might be a move to lead many holders to take actiion while they get cheap coins
Exactly mate, these people always show up just to spread FUDs causing newbies to sell the little Bitcoin they have in their wallets. How can China be the cause of the drop in the price of Bitcoin when there is no particular evidence to show a strong connection to this claims. I just wish this nature of some people in the bitcoin ecosystem will stop to help with the adoption of bitcoin. Such FUDs do not help the crypto ecosystem and bitcoin in any way. |
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You are one of the few people here SMART ENOUGH to ask serious questions, and consider the possibility that people were wrong about bitcoin.
Bitcoin was nothing more than a bubble and a Mania, and now that bubble is bursting. What you do not understand is that bitcoin will go much LOWER than 5,000, it will eventually go to its intrinsic value of near zero...
I don't really agree with you regarding bitcoin going back to its intrinsic value of near zero and also being a bubble. For the past ten years since bitcoin was introduced into the world, the value of bitcoin has increased in a particular pattern. What you should understand is that, people (investors) are taking advantage over the nature of Bitcoin which is its value is based on the demand and supply rate on the market. Once you posses more, you can some how control the market value for a while. The future of crypto currencies is GREAT, it is the future of money 👍👍👍 It will NOT be bitcoin though, which is backed by nothing. The crypto of the future will be backed by gold, oil, government, or some other real asset.
Hard Facts
For this, you are 100% right on point. The future of cryptocurrencies is Great and this can only happen when cryptocurrencies are fully adapted into the mainstream financial ecosystem as a currency just like dollars and other fiat currencies. |
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Blockchain is not Bitcoin
Exactly, a lot of people do not know this. Once they heard the Chinese government talking about Blockchain, they quickly concluded that it was about Bitcoin. We should understand that Blockchain is a technology and bitcoin is just a feature that this technology can be used for. Why I don't really blame people who think blockchain is also referred as Bitcoin, because bitcoin introduced blockchain technology to the entire world. Blockchain is its own technology and the Chinese government is just interested in the nature of this technology... |
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Thanks for solving the Satoshi Nakamoto problem seen in the crypto space but how will this information help with the adoption of Bitcoin into the mainstream of the financial ecosystem. The identity of Satoshi Nakamoto is not really relevant to the crypto ecosystem and its not gonna bring any improvement into the crypto space. I don't really get it when people waste time trying to find the identity of Satoshi..
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According to the Ceo of coinbase 1 BTC can actually change your life.
Considering the total supply of bitcoin, 1 bitcoin might be able to change the life of someone but not everybody. Bitcoin might have the possible of becoming worth $100k per 1 bitcoin and also it has the potential being worth less than $5k. You can't really conclude that Bitcoin can change the life of everybody. Well, that is the opinion of the CEO of Coinbase and since we are living in a world where people are entitled to their person opinion, lets just leave it as it is. |
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First and foremost, you should understand that banks have a particular kind of services they provide to their customers and users. Also due to the centralized nature of the banks, they only provide help to people who can afford to repay their help. Once you learn to understand this nature of Banks, you know why they are never there when you need them. Bitcoin on the other hand is a decentralized digital currency in which users of it are in charge of all transactions they make on the bitcoin blockchain network. With bitcoin, transactions can be made at any moment in time and at anywhere you find yourself. But for Bank transactions, users need confirmations before the transaction can go through. Personally, I think the world needs both Bitcoin and the banks to work together to enhance the way transactions are made.
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From my point of view, scam projects have taken away the glory of genuine projects.
Due to too many scams around crypto space, investors are not confident on investing in new projects. It's Becoming very difficult day by day to find out the legitimacy of the projects.
This in turn affecting the projects and result of this is not raising the funds as expected and required for further development of projects. This is daviating projects from their roadmap which is resulting in too much delay or even failure.
Missing interest in investors is somehow obstacle to growth and further research of dApps projects.
I think, rugulations will solve the topic to great extent, but is there any other way to stop the scamming and not just going away from it?
Please apply your thoughts.
Personally, I don't really think the scam projects are the main thing killing the entire crypto space. FUDs are the main contributors killing the crypto space. False spread of unnecessary info about cryptocurrencies are the main reason behind why a lot of people either scared to join the crypto space or adopt to the use of cryptocurrencies for their transactions both online and offline. Scam projects just affect the investment aspect of the crypto ecosystem in terms of investors investing in new projects to promote them. FUDs affect the usage of cryptocurrencies as a payment option and the rate at which people invest in already existing crypto coins... |
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The People’s Bank of China (PBOC) is the first major central bank to hint at issuing its own digital currency. Consumers fear an end to the anonymity of cash, but officials say that their goal is ‘controllable anonymity’.
Based on data from patents that have already been filed, Chinese businesses and citizens would download digital wallets which can be replenished from bank branches and then used to make digital cash payments.Read the full news hereI don't know what are you going to say about this guys regarding "controllable anonymity". Do you think it's a good thing for Chinese consumers? As China is pushing to invest big time on blockchain by 2023, along with removing the "cryptocurrency mining" ban and circulating a Bitcoin article to their citizens, I think it's a good sign. I strongly believe that Bitcoin and other cryptocurrencies would be massively adopted much faster as China is back in the game as one of the biggest crypto players around the corner. I highly doubt that the Bank of China will introduce its own crypto coin. I think they are interested in introducing blockchain technology into their system rather than creating their own digital currency. China already has a digital payment system which looks to be working perfectly with less issues. Introducing blockchain technology to their already existing digital payment system will further address the challenges seen in the system. China is rather interested in blockchain technology rather than developing their own digital coin. I think you do further research and analysis before making some assumptions. |
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An unemployed dude comes to your house to ask for off jobs, say to throw away your thrash and mow the lawn. You had no cash but he owns a bitcoin wallet and asks to be paid in bitcoins. Would you pay in bitcoin?
Definitely... Bitcoin is described as a digital currency which has all the qualities of physical fiat currency with additional features. I will not mind paying for everything with Bitcoin. It is much easier and simple to make payment using Bitcoin. All you need is the receivers Bitcoin wallet address and you are set to make the payment. But I don't really see anything wrong with payment someone with Bitcoin for off jobs. Once you need to make a payment transaction, there is no wrong with using Bitcoin to pay the person so far as the person accepts Bitcoin. |
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We see a lot of these Banks that wants to sabotage Bitcoin and Crypto currencies by closing people's Bank accounts. When this happened in countries like Australia, some people closed their Bank accounts in support of these people and they moved their business to other Banks that supported Crypto currencies. They also took this to court and the court decided that this was anti-competitive behavior and they were forced to stop that. So, the question is simple : Would you close your Bank accounts, when your Bank turn against Crypto? Do we need new Banks that would go up against these large Banks to facilitate the conversion of Fiat to Crypto currencies? I think Banks doing this will quickly change their policies, once millions of people start moving their accounts to Banks that supports Crypto currencies. We do not need Banks, because P2P conversion is possible without Banks, but it just makes things so much easier for people dealing with exchanges. What do you say? Please participate in the Poll.  Since the introduction of blockchain technology and bitcoin and cryptocurrency in general, centralized institutions have always been against the ideology of cryptocurrency. The banks to specific have been against the use and adoption of cryptocurrency since the day cryptocurrency was made public to everyone. Personally, I don't have a reason that will make me close my bank account just because the bank to not agree with the ideologies of cryptocurrency. I believe that both cryptocurrency and the bank need each other to promote easier transaction of funds around the world. The adoption of cryptocurrency in banks will eliminate their fees they paid to other companies when sending funds to other banks outside their range of transactions. |
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The decision to create cryptocurrencies is usually done base on the challenges or gaps seen in the crypto space and the crypto ecosystem. New crypto coins are either solving the disadvantage of other already existing crypto coins or introducing a different solution to gaps seen in the crypto ecosystem. Every cryptocurrencies in the crypto space has its own intended purpose and the solution it is introducing into the crypto ecosystem. To create a crypto coin, you should have a particular problem the coin is likely to address in the crypto space.
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I was just wondering if it is possible. What event or series of events could crash the price of Bitcoin to $5? What will you do if that happens?
Considering the crypto market and the bitcoin market to be specific, it is gonna be very difficult to point out any specific thing that can cause the crash of the price of Bitcoin to $5. The only thing I can think of making bitcoin crash to $5 is the crash of blockchain technology. Blockchain technology is the only thing that can cause the value of bitcoin to drop to $0. If blockchain technology becomes irrelevant to the entire world, bitcoin might crash so hard. |
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This video makes the case why Bitcoin is in my opinion not only a good investment but the best investment you can make. Any additional insights in how to best relate this to those who do not yet own any Bitcoin is appreciated. It is important we help as many people as possible find safety in this financial climate and $244 trillion global debt crisis. Thank you https://youtu.be/ubL2RDg37WkWhen it comes to cryptocurrency investment especially Bitcoin investment, people have their own personal view regarding how good it is or not. Personally, I think an investment will be good when you understand and have adequate knowledge on the principles that governs that investment. Bitcoin can only be a good investment when you know and understand the bitcoin market and the patterns at which its market value changes. This will allow you to gain the risk margin investing in Bitcoin. Looking at the crypto market now, Bitcoin is a good investment for daily traders and short term investors. |
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Quantum supremacy was a lie or a failure attempt. may be they failed to break cryptography but they showed potential risks and whole crypto industry suffered. Now, google is here with smart checking bank account by google pay. And again bitcoin or other crypto giants will have hard time. Crypto provides security, can secure privacy, giant like amazon, twitter and apple are supporting crypto. Yet only price speculation is only factor that effect the crypto price, it seems.
What if google attracts millions of new investors? what if crypto fails to attract investors? Google may make the path harder
How exactly do you think google possesses the technology that might destroy bitcoin? You should understand that quantum computer do not really have any kinda supremacy over blockchain technology and cryptography. You should provide enough information regarding these wide assumptions that will help people understand why you think google possesses the threat to bitcoin. I don't really see any threat google has on Bitcoin.. |
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I recently went for USA Visa interview , i.e I applied for a business visa. For the purpose of VISA, I needed the documents to show my bank balance, therefore I went for getting the bank statement sealed and signed from bank authorities. I am from India the bank in which I have account are one of the best banks in my country. Now first I took out print out of 6 months statement, then went to bank physically, then the real pain started, they told me to put a seal and sign on my Bank Account Statement, they will charge 100 INR for one month's statement, and I felt cheated, I felt these guys are in a business of monopoly, for my money, my account, they are charging money from me just to authenticate that my balance amount is right. We surely need crypto currencies, and do not need anyone else's validation to proof that we have our own money. More and More Power to BitCoin. What steps I am taking to make people aware of the power of bitcoin, and cryptos? - Helping them buy their first Bitcoins
- Making the understand the power of bitcoin hash power.
You should understand that in the centralized institutions such as the bank, every services provided by them comes with cost. In the centralized ecosystem, there are no free services. It is very true that with cryptocurrencies, all this charges will not be seen but you need to understand that this is how the bank system works and there is nothing you can do that can change this. You just have to promote cryptocurrencies in your own way to help in the adoption of cryptocurrency into the mainstream financial ecosystem. That will help solve majority of the problems seen in the centralized financial ecosystem. |
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Sources: https://www.coindesk.com/china-scraps-plan-to-categorize-bitcoin-mining-as-industry-to-be-eliminatedhttps://static.coindesk.com/wp-content/uploads/2019/04/bitcoin-yun-860x430.jpg Another topic regarding this: https://bitcointalk.org/index.php?topic=5199187.0Before, the China National Development and Reform Commission (CNDR) tried to categorize the industry of bitcoin to be banned from their country. It was included in their catalog (pertaining to industries needed to be banned) that virtual currency and mining activities should be phased out in their country. The initial draft of the catalog states that "Virtual Currency mining" particularly bitcoin mining should be eliminated, thus recommending local governments to scrap bitcoin mining out of their industry. Now, there's a sudden turn table in their decision: during the press conference on Wednesday, the catalog received 2500 suggestions concerning bitcoin mining, and most of it was taken into consideration. Here's my point of view: 1. Since China holds half of the bitcoin's global hash power (according to https://www.coindesk.com/china-scraps-plan-to-categorize-bitcoin- mining-as-industry-to-be-eliminated), the service that bitcoin provides will not just retain, but also be further develop in the future as China will not put restrictions to bitcoin mining. Thus, will let cryptocurrency mining more efficient. 2. Inducing Market Adoption - China scrapping their plan to eliminate bitcoin mining to their country will enable their people to trust bitcoin even more, and will lead to much better bitcoin adoption that will not affect their country, but also the whole world. 3. Great control to Cryptocurrency - Regarding the news, reducing the resistance for mining industry will entail china to have a great control over the hash power of crypto. As a result, more control to cryptocurrency. It is evident that even big a country with restriction to cryptocurrency and mining is now in favor and showing support to crypto. There are better future that awaits us in crypto space and we should be knowledgeable about that. Should you have any questions and comments about this, kindly spread the word to the comments below. The truth be told, the government of China has never made any formal announcement regarding the ban of Bitcoin mining in China. People will just spreading FUDs which they thought could cause and bring the downfall of Bitcoin and prevent people from adopting to the use of Bitcoin since it is believed that China produces the highest hash rate of the bitcoin network and the ban of Bitcoin mining will cause the network to collapse. But there hasn't been any evidence to back this FUD. |
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I have seen people here as well as on internet who suggest people to go in Bitcoin whatever they earn from their income sources like Job, Home, Real Estate, Other assets etc.
This is not the wise choice. Whether you say good or bad to Warren Buffet but being one of the greatest investors he said " Dont put all your eggs in one basket."
Before you will be able to understand this statement " Dont put all your eggs in one basket." , you should first understand the principles of investing. Every great and successful investors first understood the principles governing investment before they started investing. Knowledge and understanding are the core principles of every investment. Without knowledge, you can not understand how the thing you are investing in works and the risks associated with it. This apply to bitcoin investment. Without knowledge on the bitcoin market, you might lose your investment capital even if you split the capital into parts. Knowledge about the bitcoin market will help you as an investor to understand some basic aspect of bitcoin investment which will help you to avoid some unnecessary mistakes. |
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There is a trend in this forum whenever there is a dump there will be a group of people who will spam the forum with FUD and then there are a set of people post unrealistic things will bitcoin will cross $50k if it pumps by few hundred dollars, right now I don't see anyone predicting the price. Does it mean people have learnt no one can predict the price or just waiting for right moment again?
Information regarding people making predictions about the next market value of Bitcoin is usually seen at the speculations sector of this forum. You not see it here at this sector of the forum does not mean people are no longer making predictions. Predictions are made by people every blessed day in the crypto space. It is the only way there is an assumption that faint-heart hodlers will sell their bitcoin fast when they see such predictions. You should the speculation sector to see people predicting the next market value of Bitcoin. |
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ICOs and IEOs are the main reason causing investors to get scammed. Project managers are just interested in creating new tokens and coins rather than developing products that will help solve real problems in the real world and the crypto ecosystem. The ban of all ICOs and IEOs will help reduce the number of scam projects been launched everyday in the crypto ecosystem. This might even help clear FUDs and increase the adoption of the use of cryptocurrencies and bitcoin.. |
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