Or will it one day be truthfully utilized for day-to-day life like paying for meals?
Use bitcoin as a regular currency right now? Don't think that is going to happen anytime soon. At least not right now. Bitcoin is still in its infant stage and has a lot of room for development. Remember, the community is still active and people are coming up with multiple solutions without bringing any major change to the bitcoin protocol. Just give it few more years and then we might have a perfect solution to all the drawbacks bitcoin currently faces. As for now, people are going to use it as "investment vehicle". |
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What's with you and the hate for bitcoin? Bitcoin not being beneficial to you doesn't mean that it is not going to be useful to anyone. You probably haven't found any use case for it, but there are people out there who finds bitcoin very convenient. I remember reading a thread where someone wanted wanted money really bad and his friend sent him instantly. Yeah, I know, both had to pay premium fee and conversion rates but they still did manage to pull it with the help of bitcoin. And then there are people who believes that it is a better investment as a store of value when compared to gold.
Slow expensive difficult to hold hackers and highly volatile
Slow? Pay premium fees or wait. Can't do any of those? Use altcoins. Sacred of hackers? Take proper precautions and the chance of getting hacked is slim. |
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although there are lots of way to use bitcoin but most of people see bitcoin as the simple & easiest way to earn money. Recently bitcoin price increase a lot, that makes investors profitable and also attract new users view on it. But alas for them who miss this oppourtunity. Maybe its unfair to think bitcoin only as the method of earning. Thus bitcoin future will be apart from the purpose it was created for
Yeah, there are lot of ways to use bitcoin, but is it viable? Back then when bitcoin wasn't well know and used less often, people could make transactions easily with few cents as fee and get confirmation within an average time of ten minutes. But as more people started to know/use/trade bitcoin, the fee started to rise dramatically. When network goes underload, you will have to pay premium fee to get fast confirmation. So it no longer suitable to use it as a regular currency. At least now. It is then people have realized that bitcoin has store of value and gives them profit in the long run. Thus, people use it as a long term investment to make profit. No one missed the "opportunity yet". You can still make profit in the long run if you invest and keep holding. |
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True. Not everyone wins when gambling. But, its not always that gamblers keep on losing money. There are also people that have won some quite good amount of money gambling. Look at those lottery winners. I doubt they have lost a "lot of money" than they won.
Remember, casinos have house edge. So in the long run, it is the casino that is going to win everything. If you make profit, take it instead of gambling with your winnings. If you keep on playing you will eventually lose everything. If you lose and you can't afford losses anymore, then just stop.
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In china the government reported a case where a gambling Gang as they stated were using cryptocurrencies to transfer funds abroad. According to them trillions of yuan's are illegally being transferred abroad due to gambling. They are taking it further by saying how it's not just a financial problem but it's a conspiracy against their nation as a whole. Now they are making this bigger by saying how these cryptocurrencies and gambling are making it harder to track the transactions. BUT ! Isn't it easier to track these transactions as compared to fiat ?? Gambling in China is illegal under Chinese law and has been officially outlawed since the Communist Party took power in 1949. Any form of gambling by Chinese citizens, including online-gambling, gambling overseas, opening casinos overseas to attract citizens of China as primary customers, is considered illegal. From wiki Now gambling in China is Illegal so according to them if anyone from China is engaging in Gambling online overseas even the online casinos might be held accountable. But I think some casinos might be bypassed by using VPN. Shouldn't the Chinese authorities in lieu of the statement where they say that they are illegally transporting trillions of yuan's online , make the gambling legal and make sure to have well established rules instead of putting a hand out on the whole industry ? Plus if people wants to engage it's their personal preference not the fault of the on-line crypto casinos. https://cointelegraph.com/news/chinese-govt-official-gambling-gangs-use-crypto-to-transfer-funds-abroad/ampSo according to China, the Chinese citizens are converting their currency yuan to bitcoin and then uses those bitcoin to gamble online on overseas online casino, which according to them is money laundering? What else do they expect? They have strictly restricted their people from gambling. They can't even gamble abroad as a citizen of China. Sounds so shitty. And this the reason why the citizens are engaging in such illegal (according to them) acts. How about allowing people to gamble like they wish and put tax on their winning? Its a win-win situation for everyone. |
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When it comes to existing altcoin where it is already listed in different exchanges. I basically rely on the chart of the altcoin and also to its volume, I will ignore altcoins that have low volume because they are the illiquid ones so for me I can considered it as a waste of time and money. In the chart you can observe if there are people who are interested to it or not, if the chart is clear where you can read it and analyze it easily then it is good but if the chart doesn't have a clear data where there are many gaps in terms of candlesticks then for me that are the coins that should be avoided. -snip-
I doubt just looking at the charts is going to be a good idea to understand if a coin/token is good to invest in or not. I mean the buy and sell volumes can easily be faked. We also know that the price means nothing when it comes to creditability of a coin. The price can be pumped by the developers if they hold most of the coins. The best way to determine if an altcoin is worth investing in is to look at how active they are. You may want to invest in coins that aren't clone of other coins. Maybe look for coins that provide a useful function that none of the current coins have? |
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Just imagine, to pay for ads on Facebook, you can choose any cryptocurrency instead of the US dollar, and using Google Play service, you can pay for purchases with Bitcoins. If earlier it could seem like something empyreal, today it is quite an expected decision. Will Google and Facebook change their crypto policies?
Is PayPal first, then Google and Facebook?
The cryptocurrency is rapidly acquiring new supporters, including large companies, funds, institutional and retail investors. It is obvious that the global economy is moving at full speed towards digitalization, and its transformation is only a matter of time. The leading players in the financial market have already jumped in, as evidenced by the multi-billion dollar investments in Bitcoin in the context of 2020.
-snip-
Crypto hasn't gone "mainstream" yet. Just because PayPal is now supporting bitcoin and some companies are investing in bitcoin, it doesn't mean everyone is now ready to adopt/accept crypto currencies. Imagine paying for ads on facebook or using google play services with bitcoin and having to wait for an hour to get a confirmation? There are still more space for improvement and we are yet to achieve this "perfect" crypto currency that can be used as a regular currency. Facebook is working (are they? i am not sure) on making their own crypto Libra. Google could do the same thing like paypal with their Google Pay service. |
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so my friend has money but not same bank as me he was different country but he wanted to give money to me and i need it fast so he bought bitcoin and i got money same day  he never used bitcoins and he thinks now its amazing:) btc really solved that situation that he had different bank then me and not possible physically to give money Of course it is amazing that you could send bitcoin almost instantly from one country to another. Hope he didn't have to pay those crazy fee when the network was congested. But, yeah you all probably had to pay premium price for instantly buying bitcoin and instantly selling selling it for fiat (conversion fees are crazy) through ATM withdrawal (or did you do bank transaction? They do have some delays sometimes). It is easier for smaller amount of transfer, but when it comes to huge amount, you might face some problem when trying to convert BTC to fiat. |
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Why would someone use a random crypto exchange with no information at all? There is nothing about your company, no one knows who is behind this and a post from a random junior member. Are you one of their representatives? If so, make a proper announcement thread over here with all available information. This forum is a good place to start promoting your exchange. Good luck! |
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Nah, it's not a scam. It is how it is supposed to work. They already told us that you won't be able to send the coins to someone else or any other external wallet. All you can do is buy bitcoin from paypal, sell it back or hold it. You can also spend your coins buying from sites that accept paypal as payment option.
So how is this a scam? It is not like they are stealing from you or anything. I know its a shitty way to own bitcoin (you don't even own those since you don't have access to the keys) but don't go screaming scam if they aren't.
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Since everyone is hesitating to click on the link (i wouldn't blame them. The link looks a bit fishy), maybe it would have been better to create a survey using google forums. If that becomes too complicated for you, you can try survey monkey. Easy to use since they provide you with all those templates . It's good to see more people are choosing blockchain, bitcoin and cryptocurrencies as their field of interest for their thesis research. Would be great if you share your results over here since it would benefit others too. |
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Last few months I saw an article, that make me shocked, how some killer open their mouth in the court to tell the judge how the woman paid them with bitcoin to her husband that is making court to start investigating how the transaction was made to carry out such act. Assume it's fiat money she use to pay the killer, do you think the court will still like to investigate the type of currency used for the operation?
India is trying to Re-ban bitcoin in the country just because some people said is a scam currency.
What is your opinion?
Why were you surprised to hear that? Is it because she used bitcoin to pay the hitman? Or did you think hiring hitman was a fictional thing since you can't hire hitman with fiat currency? You do know that people also pay their hitman with fiat currency, right? Its not like because of bitcoin, people are able to now hire hitman. Even if she used fiat currency, the court will still order an investigation on how the funds were obtained and transferred. India can't ban bitcoin. No one can ban bitcoin. All they can do is not allow their people to use bitcoin. And rebel against something that has no central authority? Good luck. |
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Sounds like a weird "multiplayer" game. Why would someone want to split their jackpots with others in the room. This one sounds too complicated for me. And shouldn't multiplayer casino be something like player vs player? Something like poker?
Anyway, most of the old school bitcoin casino does allow people to interact with each other like chatting and tipping while gambling. They can also see other players win or statistics. Everyone together contributes to a progressive jackpot that can be won by anyone if the meet the requirements.
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Was expecting people to be more excited like they were when paypal first announced it. I guess they understood how centralized everything is when they will be using paypal for storing bitcoin. I haven't got the time to check how bitcoin is being stored and used in paypal. As far as i heard, you won't be able to send any crypto to external wallet addresses. You can only send bitcoin to another paypal user. Kinda sounds really shitty, but makes more sense about "no fee" service. People will be forced to buy from paypal and there is where all the "premium" fees they will be taking.
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Bitcoin as an asset or property is like also having a real property or a car that usually needing insurance to cover expenses whenever nad things occur for that property.
Bitcoin was created as decentralized digital currency, but also consider as an asset. Bitcoin is sometimes vulnerable like getting stolen from phishing sites, hacking and scamming other people is a form of damage to bitcoin.
Is there any chance that bitcoin can have an insurance from its vulnerabilities in the future?
What do yoi think?
I highly doubt any insurance company would cover someone's loss due to getting phished, hacked or scammed. Oh and one thing, those are not bitcoins vulnerability. Those are peoples stupidity for falling for those scamming, phishing and hacking. People should be careful when surfing the web and must make sure they are know where they are going. They should also make sure that their computer is secure. Instead of saying bitcoin is sometimes vulnerable, you should be saying people are sometimes vulnerable and naive. But yeah, no insurance is going to cover those. There are some insurance that do cover online frauds and scams (but rarely), but when it comes to bitcoin, they won't. First of all, its going to be hard for them to proof if they really got scammed or is trying to claim through insurance fraud. |
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What do you think?
at some point people will be able to walk in a casino and just bet on slot machines with bitcoin?
or play poker using crypto, but irl?
do you think it will become a mass adoption currency or it'll keep as it is on online websites only?
of course some merchants and places already adopt crypto and BTC as a way of payment, but curious here:
how long you think it'll take to reach the point where we can bet in real life places with bitcoin?
As far as I know, there are some physical casinos that does accept some crypto currencies for playing in slots or few other games. At least over here. I have also heard that there are casinos where you can directly exchange bitcoin or crypto currencies for playing chips that you can use it for gambling inside the casino. I wonder how they work. What if the network is under high load and there are lots of unconfirmed transaction? Do they wait for confirmation? Then again, I guess they pay the highest fee since highly likely they are able to afford it. But yeah, it won't become mainstream. At least for the next few years. Things would become too much complicated for them. |
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Cryptocurrency is a very high-risk investment, because mass adoption has not yet been carried out,
and 2020 is just the beginning, paypal, Microsoft, Google are starting to use blockchain and Bitcoin,
of course this makes the fears on cryptocurrencies fade away, but don't forget , the price is determined by the market.
How come Microsoft, Google, paypal and others accepting crypto currencies make the fears on crypto currencies fade away? With them accepting crypto currencies, nothing has changed. All problems currently lying down are still the same! In fact, none of them actually directly accepts crypto currencies. They use third party payment processors to accept the coins on behalf of them. The third party converts the coins to fiat and gives it to them. So this means, they aren't directly accepting cryptocurrencies. By the Microsoft has been accepting bitcoin for a very long time. They aren't new. And working with blockchain doesn't mean they are working with crypto currencies. Blockchain has many other uses, not just for developing crypto currencies. |
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I would say is no "right" time to buy crypto currencies. Buy when you think you are comfortable buying. Buy when you think you can afford to lose. If you keep on waiting for the price to fall, you will keep on waiting forever. This is because when you see that the price is dropping, you will kinda think that the price is going to keep on going down more. Again, when you see the price rising, you will feel like it is already too late and the price will start dropping anytime soon, so you don't invest.
Just don't buy when you can afford to lose. Remember, after buying when you see the price dropping, there is nothing to panic. You aren't making any loss as long as you aren't selling anything.
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Don't expect the pandemic to be over as soon as the vaccine comes out. Remember, we are just getting the vaccine. The vaccine producers will have to produce billions and billions (each people will need around 2 to 3 jabs within few weeks apart) of vaccine to vaccinate most of the people around the world. So, make sure you follow all the rules and avoid spreading the virus being careless thinking that the vaccine is out. Don't expect everything to go back to normal within few days. Though the doctors and scientists are saying everything will hopefully get back to normal after next year summer. So, let just wait and see.
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Hey guys,
By recent Fear&Greed Index bitcoin is in extreme greed area, usually it's a sign of decline in price or even crash. I've been observing this index for quite some time and find it pretty accurate, of course it doesn't give you the exact day or time but it indicates the sentiment on the market. Do you ever use this index in your trading analysis?
I am hearing about this Fear and Greed index for the first time lol. How do they even calculate those indexes? Wouldn't that be always high since when price starts dropping, there are people who starts investing because they fear that they will miss out on making maximum profit, and then when the price starts increasing, there will be people wanting to cash out and be scared that the price might crash anytime. I have never heard from anyone referring to this index, so I doubt no one actually uses those index when trading. Those index kind of looks like it spreads FUD. |
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