If their plan is successful I think it's the end of the world. Who would in their right mind throw their money around to Bitfinex when they can't even provide enough transparency about Tether or their withdrawal issues. $1 billion, that definitely sounds a massive amount of money to cover their insolvency (just a hunch). And what more, that $1 billion is only used to prepare the launch of their own token! What a waste of money.
I am doubting if Bitfinex can be successful on this project of getting as much as $1Billion in exchange for its LEO tokens. The problem with Bitfinex is lack of transparency and investors are always wary of any entity especially in the world of cryptocurrency which do not value honesty and openness. We should not allow an exchange which seems to have the propensity of doing anything it wants without regards to the responsibility they have on their users and other stakeholders. Bitfinex should start showing to the world that it has nothing to hide and that it is complying with the laws of the land...not doing any shenanigan. |
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I have to say that as far we are yet to see a regulatory body to guide about regulation of business in crypto market and exchange, we are going to continue seeing such practice going on. Such regulation would stop some illicit transactions from happening in the first place.
I am highly convinced that there is now the need for a strong, solid and cut-clear regulatory framework that all cryptocurrency exchanges have to follow in order to protect the interest of the people who are trusting these entities. Right now, there is no more question that exchanges are getting to be more powerful and influential every day as they generate more revenues on global scale. Human nature remains the same whether one can be in traditional or the new financial platform so laws have to be made and implemented for all players. A good regulation on this market can boost more trust and confidence from investors and traders resulting into more vibrant and transparent business. |
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Getting scammed is one of the nastiest feeling and experience ever for me. I was tricked into believing that an email supposedly coming from a website whom I trust is a real one...it advised me to change something about my MEW account and so I log-in using the link provided by the email...it was of course a phishing site and once they have my login details then they wasted no time into harvesting my many tokens and coins in the wallet. I was then very neophyte at the time. I was not yet exposed how phishing works so I was naive to the max. In fact, nobody can really be careful these days as hackers, phishers and scammers are always ahead of the game...they are genius in looking for ways to get into you and if they can enter Binance there is no impediment why they can't steal your wallet. So be careful.
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The truth is that for some people it is really quite difficult to understand both the nature and the essence of the functioning of cryptocurrency, and it is also rather difficult to use it in practice. It is also necessary to take into account the existing language barrier. In order for a cryptocurrency to become available to an ordinary person, it must also be simplified and increased the safety of its use. Hacking and fraud are very serious difficulties in the development of cryptocurrency. Many people write that people are too lazy to learn how to use cryptocurrency. Yes, lazy. Because there really is something to study, and study a lot. And an ordinary person with his many problems does not need it. He will prefer to continue to use the existing means of payment that is proven and safe for him. If we want people to be interested in using cryptocurrency, it needs to be greatly simplified.
In my opinion, there is actually no need for all people to fully understand the workings of cryptocurrency in the same manner that not all people do understand the process utilized by Visa or MasterCard for that matter. Is it necessary for me to understand the formula used by my favorite facial cream in order to successfully use it? No, there is no need for that though the knowledge is always available for anyone to dig. Now, what we need then are practical applications that can use Bitcoin. People do not generally care about the details of anything unless it is their own expertise but if there is something that can make their lives better then they will easily adopt it. |
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The general sentiment of the market is getting very positive on Bitcoin as it is experiencing some upward movement. A lot of people are expecting that Bitcoin will soon breach the $6,000 level and can possibly go beyond that level in the coming weeks and months...and there are those already predicting of $8,000 or even $10,000 before 2019 ends. I know this is just another speculative notions but this can be reflective of the ongoing confidence the market has on the King of Cryptos. With this backdrop in mind, will you advise a newbie to bitcoin to enter at this stage so he can be able to ride the coming "boom" or will you tell him to wait some more until the market is dipping? |
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So, next time when someone tells you that Crypto currencies are used for scams, please highlight the fact that most scams are still being done under the nose of the regulated financial industry.  I read somewhere of a report stating that according to facts, a great majority of all the scams perpetrated every year is done using the fiat money and only a certain percentage is done using Bitcoin or cryptocurrency. This is just the case of sensationalization since Bitcoin is relatively new unlike the fiat money which has had been here for centuries. Once a country is adopting its own regulations on cryptocurrency, scams can be investigated, traced and have the perpetrators punished. |
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You are confused...Investing in cryptocurrency is no crime, laundering money is. Making money illegally and trying to hide that money using crypto is one thing. But earning money legally and investing in BTC has nothing to do with that. If you can prove that you earned your money legally and bought btc, you have nothing to hide or be afraid.
There should be clear distinction between the two: investing and laundering money. Laundering can refer to activities that could try to make money from illegal activities become clean by any means. The best example here is the money coming from illegal drug trade which can be channeled to a platform and make the money appear legitimate and aboard board. Now, one reason for the confusion can be due to what some people did in the past where they used Bitcoin or any cryptocurrency to launder proceeds from illegal trade...which in this case Bitcoin should not be faulted because if they are using the dollar for the transactions I don't think anybody can be blaming the dollar. Another thing is that in many countries, taxation laws can be strict there must be the need to declare one's exposure and income with cryptocurrency otherwise there can be some repercussions. |
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Sure, not saying it's all a perfect fit, but it was an interesting article with some merit and I can't seem to find it anywhere now  His overall argument that each bubble went significantly higher was correct though, and if the model holds, then the next bubble will be to the MOON with lambos for all ! This can be interesting to watch if the same pattern can be able to hold in the next bull run which can be happening sooner than expected. I have actually seen this same pattern discussed on this forum before and though there are some details left by just merely looking at the chart, it can be easy to conclude that it is possible Bitcoin can go beyond the $20K level. Now, does it mean also that after touching more than $20K at its peak then winter is happening after just like in 2017-2018? |
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When it looks like the market is recovering from the bear market, yet another major exchange is hacked and $40.7 million is lost, looks like there is no end for these hacks and not sure which exchange is the next target. These security breaches will impact the market in a huge way as investors will think twice before investing because none of the exchanges are safe, they might refund the users because as per the news only a small percentage of the funds are lost but what i really do not understand is that when these huge amounts of withdrawals are executed how they are passing through the internal audit and many hacks in the past were not transparent, hopefully they will provide the details on how this hack happened. Zhao was fighting a nobody in Craig and if he could have being more careful with his internal security rather than fighting bull shit artists these hacks wont happen. Here is the link to the article about the entire news There is no question that the trust and confidence of the market bestowed on Binance can be hitting some lows on this recent development. This comes as a shock to many because we are assuming that Binance is hack-proof but hackers are many steps ahead of this game so they were able to breach the hull. I am expecting that Binance will do everything they can to prevent the same disaster from happening again...they should be hiring hackers to fight back these hackers in their own game. As to which exchange can be the next target well nobody knows on that but am sure if one exchange is belonging to the top 10 then its should be careful and should double up its own defenses at all corners. |
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Today Bitcoin is almost touching $ 6000, even though it is currently down slightly at around $ 5900. Under current market conditions, what do you think? Is this a momentary pump or is this a real change in condition? I think this is a change in conditions towards the start of the bull.
There is a strong trend that can carry on for weeks and can be the one to push Bitcoin beyond the $6,000 level. Will it be able to surmount the $8,000 level soon? Well, only time can tell. However, based on the overall sentiment of the market right now, that can be possible we just don't have the time frame for that...but am wishing it can be at least in the last quarter of this year. This is assuming that there will be no negative developments on the horizon that can affect its upward movement. |
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This can be expected since the Chinese government seems to be dead serious in flushing out the use of any cryptocurrency within the boundary and influence of its power. Firms basing within China have no choice but to bow their heads to the government's wielding influence as going against can mean going to the cemetery. Now, will this have any direct on the market? So far there is no such thing but we don't know the long-term effect unless there can be a replacement on the horizon. Anyway, I am confident that even if we totally lost the Chinese market, cryptocurrency is here to stay and can even boom better and stronger. |
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One of the troubles that derailed ico investment was the dumping of the tokens once it is listed on exchange platforms. Fast forward few weeks; ieos became of the day and seemed as the best crowdfunding way.But even ieos project dump upon listing upon exchanges.
Why is there no corrective effects about this ? If ieos keep dumping upon listing on an exchange
It leaves no difference to an ico.
Well, the thing is that when an investor is buying some tokens he has all the rights in this world to decide how and when to dispose them. There should be no impediment on this prerogative. Now, the project can implement a phased distribution of the tokens for its investors and supporters. At the same time, the project can implement incentives for people who are choosing to hold. The project must communicate to investors why they must hold the tokens by convincing them that there is a great future awaiting for the project in the next coming months and years...certainly not an easy task to do but not impossible. |
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Trust is earned and it needed time. So if a new exchange wants to gain user trust, they must have some sort of accountability and again it takes times to prove it. but if some exchange wants to get noticed, be different and needed by people using it. Offer something new and benefit the user. Takes a looks at binance for example, they enter the market at the right time, before a bull run and we at the time in a phase of ICO mania. They offer a referral which many influencer begin to promote their exchange, also many people want to trade over there because they listed a hot new ICO, unlike their counterpart, poloniex and bittrex who takes a conservative approach on listing policy, don't forget a problem with their withdrawal. People just want to exit that legacy exchange.
Binance is a genius in marketing. They know the current situations of the market, introduced some innovations, push their brand well into the cryptocurrency marketplace, chosen to be pro-active, and then they now are harvesting the fruits of their labor. We must really be under the era of the Chinese so that the top exchange is under Chinese and even bitcoin mining and its hardware are in the hands of the Chinese and most of the bitcoin right now are being held by Chinese (am just assuming this statement). Getting into the market and staying are not easy feats that is why with all the many start-ups being introduced from time to time only a very few can be alive 2 years from now. My suggestion is to always look for a niche of this big market and start offering your better services to that market and once you are successful in there that is the time to expand. |
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Does he mean against BTC?
Yes, he means against BTC. Elixxir is backed up by David Chaum, a cryptographer and a PhD in computer sciences. However, I don't know how much the Elixxir project can be a real competition against BTC, despite the promising features, such as quantum cryptography, transaction speed, or enhanced privacy. Many projects nowadays promise the same, but they can by no means be a real competition to Bitcoin. IMO the strength of Bitcoin is primarily in its very competent dev team and of course in its powerful network. So there is no real competition in sight. I am quite sure that Elixxir is a good platform that can be competing well in the marketplace soon. However, to compare it to Bitcoin at this stage...well I believe that may not be working for its marketing side. Yes, there had been a line-up of many good projects that at the start started to compare themselves to Bitcoin convincing us that they are better, faster and just much better but then where are they now? Bitcoin remains on the top though admittedly it may not be the best nor the fastest. Ultimately, the judge for this matter is the market and so far Bitcoin is having a continuing winning streak. |
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There are XLM incentives attached with sharing/curating good content on Masmic in the form of responses to these bounty questions!
And there is guaranteed feedback on your sharing/curating of good content within a week from participation, because bounty questions come with a timer.
This can be an exciting site but I am hoping they are doing the monetizing well because if there will be no steady inflows of revenues then the incentivized activities may not last that long...this is based on many other similar sites implementing almost the same idea as they were now gone with the wind. People love to share and if they can get something out of sharing their ideas and opinions then it can be a good platform to participate with. Good luck to MasMic. |
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This will not have any direct bearing on Bitcoin and altcoins. But this can undermine the trust and confidence for Binance which is supposedly a hack-free operation being the most famous and the most used cryptocurrency exchange platform on the market today. This is just a big testament to the reality that not a single player in this market can be safe from sophisticated and nearly genius hacking intelligence of some people who are using what they got to create mayhem online. Good thing that Binance is able to detect the hacking and the damage is contained...for sure this can not paralyzed Binance. |
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Charlie Munger: Bitcoin Investors ‘Celebrate the Life and Work of Judas Iscariot’Charlie Munger, billionaire investor and vice chairman of American holding conglomerate Berkshire Hathaway, again criticized bitcoin stated that bitcoin investors "celebrate the life and work of Judas Iscariot." “And I think the people who are professional traders that go into trading cryptocurrencies, it is just disgusting. It is like somebody else is trading turds and you decide, 'I can't be left out.'" Source: https://cointelegraph.com/news/charlie-munger-bitcoin-investors-celebrate-the-life-and-work-of-judas-iscariotNot surprisingly, Charlie Munger is also an old school though very successful investor as he is working with the famous Warren Buffet who is also a great critic of Bitcoin and cryptocurrency. This time Charlie is using a famous biblical figure the one who betrayed Jesus Christ leading him to be killed on the cross. Charlie must have very deep dislike of Bitcoin just judging with this statement. Do you agree, disagree or somehow agree with Charlie?
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Binance is supposed to be beyond hacking as we expect that it can avail of the best and the most expensive security technology available at hand. Unfortunately, nothing is really secured in our modern interconnected world as hackers, phishers, scammers and all their cohorts are one step ahead of the game. In fact, the best way to do is to hire those hackers into your side...this is a good idea that Binance should look into. The reality is that Binance can be hacked, what about ordinary guys and gals like us?
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Bitcoin has its fair share of mysteries; exactly how it works being one that most users will never understand.
people don't understand how 90% of the world works starting from the coffee maker they use in the morning to the bed springs they sleep on at night. that doesn't make any of them "mysterious". GotSatoshi website and Twitter feed is promising a live reveal at 15:50 GMT on May 14th. So not long to wait and find out then.
if they had any clues whatsoever they would have revealed it right away instead of advertising it for a couple of weeks and increase the drama. that is just one more nonsense to the millions of cases that existed in the past 10 years. There are a lot of things in life and in this world that we don't care to know because we don't have the time and we are not that interested with them. As to Bitcoin and its founder, a lot of people are intrigued by the things surrounding "him" and now have relegated this into being a big mystery. As for me, I really don't care whoever or whatever this "man" was and is. What is important to us is we have the Bitcoin now. The GotSatoshi is just one of the promotional campaign happening anywhere in this world and they wanted some attention to make the campaign effective...whatever their purpose that is something only they know. |
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