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I really just want enough privacy for people not to know how much money I have and what I have been spending on. I find Bitcoin's anonymity features to be enough for that. I assume most people are basically the same way. If total anonymity were such a huge factor for people, then Monero would be the number one cryptocurrency right now. Despite public perception that Bitcoin users are criminals, I'm pretty sure 99% of us are average joes.
Of course, if Bitcoin's anonymity isn't enough to satisfy your requirements, you could always use Bitcoin mixing services such as Chipmixer.
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Something that has been unclear to me is how will governments survive when fiat is nowhere to be seen and all or most monetary transactions happen via cryptocurrencies.
Since one of the most attractive aspects of crypto is that its anonymous and decentralized, how will governments be able to keep track of money and tax it.
Fiat cannot be killed by cryptocurrencies. Technology, and the world as a whole aren't advanced enough to go completely digital. Infrastructure issues and accessibility issues have to be addressed. Heck, not even everyone in the world has access to the internet. You can't really deprive them of money can you? Governments will still tax as they usually do. Businesses will need permits to operate, and their financial activity may even be more transparent thanks to the blockchain. Private individuals will need to declare their income as they always do. I don't think it's going to be a big issue, honestly. |
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A group of Chinese miners and large Cryptocurrency holders are trying to get Bitcoin cash to replace Bitcoin. Whether the source is credible or not that is up to you to believe, the only thing that we can confirm is that the pastebin was posted July 30th months before the price manipulation that has taken place. Also over 1/3 of all the transactions of bitcoin cash were on South Korean exchanges. We are learning that the Cryptocurrency market can be controlled by a group of people. They were able to over 4x Bitcoin Cash's market cap, over 3x it's price and temporarily passed Ethereum on market cap becoming the second largest Cryptocurrency in a couple of days. Bitcoin cash is a huge Cryptocurrency, but they were able to manipulate the price as if it were a pennystock. And because of that they have made a serious profit. So we have to ask: What is stopping them from doing it again? Below is the pastebin that I was referring to. Also here is the link if you would want. https://pastebin(dot)com/n0aGBMQr https://www.blackhatworld.com/attachments/img_1-jpg.97373/I don't think it's as simple as you're making it sound. Bitcoin Cash was sitting at around $500 per coin the time the pump happened. From that perspective, they would need 20x the amount of money right now to simulate the same effect on Bitcoin. Bitcoin holders also tend to sell high, so if they pump too much, lots of people are going to dump, and they're going to end up losing money. We can't stop them from trying to pull shit like that again, but it seemed to me like that was the best that they could do. It was incredibly coordinated, with FUD from all over social media and rounded out with mempool spam. It's only going to get harder for them as Bitcoin's value soars. |
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Bitcoin is gaining more global acceptance daily as compared to other cryptocurrencies. With Bitcoin, we can be sure of greater liquidity and it has made international transactions and businesses easier relative to other currency. The level of anonymity Bitcoin gives is unparalleled and the ability to transact businesses with Bitcoin at a relatively lower fee is unequalled. What do you think is needed to guarantee more wider acceptance?
You must be new to the scene. Monero offers full anonymity vs Bitcoin's partial anonymity. Many altcoins like Litecoin have faster transaction times and lower transaction fees. The best way to gain instant wider acceptance is for Bitcoin to progress to a point where most altcoins will be obsolete. I don't think Bitcoin can get fully anonymity at this point, but it could definitely match, if not outright outspeed other altcoins' transaction times with similar or even lower fees. People are only really holding on to altcoins because they're superior to Bitcoin in some way, but if Bitcoin reaches their level in that certain aspect, people are certain to dump. |
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There are very few details within the article. Everything is basically in the headline, and by corruption, he means getting involved in pyramid schemes and criminal activity. My question is: why?
Just because Bitcoin can be used for crime doesn't mean holding it will encourage teenagers. They have money which could also be used for crime. I also have no idea where this preconceived notion that Bitcoin is used in scams is coming from. Stay away from (most of) ICOs, be smart when dealing with other people, and not even a teen should have any problems at all. Just like with fiat, it completely depends on the individual in question. Bitcoin doesn't encourage anyone to do anything. It's basically digital cash anyway.
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What Ways you are using to Promote bitcoins in you Locality?
1. Well I am Promoting By Accepting Bitcoins on My shop and Telling everyone to use Bitcoin
2. By telling Bitcoin daily Price only... Its rising every day
3. Wearing Bitcoin T Shirts
4. Show off my Earning in Bitcoins
5. Show off my Profitability By holding bitcoins
I want to check other diff way to promote in locality not on Internet
Just to aware local people who living nearby
I don't think showing off is a good way of spreading awareness. People are jealous and vindictive, and those with preconceived notions that Bitcoin is a scam is only going to fall further within that hole. They're more likely to approach you and ask about it if you're humble with your earnings. Don't tell them how much you've earned, because they'll inevitably ask about that. As for me, I'm taking the educational approach, but I'm not preachy about it. I only really tell people who are curious and mention it in passing. People should foster their own curiosity. If you preach it to everyone who's half-willing to listen, they're more likely to think of it as a scam. |
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Well, just as you said, it's a conspiracy. I'm not sure I believe that a couple of Chinese whales have the power to bring down Bitcoin's price to what they please. If Bitcoin has become so centralized that such an attack would be possible, then it probably deserves to die. If this were true, then they'd have just as much, if not more power over Bitcoin Cash, so given the centralization, it can't be the true Bitcoin either.
Bitcoin Cash did get to mount a semi-successful attack, but that was as far as it could go. The attack was obviously meticulously coordinated that I would find it hard to believe that the attackers still held back punches. They were going for the jugular and they failed. If there was a time for these Chinese whales to bring down Bitcoin, that would have been it, not when it's at its strongest at $10,000.
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Net Neutrality will affect how the entire internet works. Its effects on Bitcoin doesn't seem to have been thoroughly discussed, but I'm sure there could be effects.
ISPs could charge you extra for accessing crypto exchanges or even block them outright, for example, or even block Bitcoin transactions at the protocol level. In a nutshell, your ISP will be able to pretty much be able to do whatever it wants, and charge extra for whatever it wants. They probably won't, because such actions could end up hurting their bottom line, but it still wouldn't be a good idea to give them that much power.
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I do not want ... I do not need the government of my country to legalize bitcoin, (that would be too good). I just do not want to be banned from using it.
And the ban on bitcoin as far as I know, no country has done that yet.
It will be illegal in Vietnam starting on January. There are a couple more countries that have already declared it illegal. As things currently are, governments have no need to control Bitcoin. They only need to control the fiat being used to trade it, and they can do that effectively by monitoring and regulating businesses which accept Bitcoin and exchanges. They even get extra revenue this way. Countries that have banned or are pushing for a ban probably just don't want to go through the trouble of studying it, or can spare no resources for its regulation. |
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Based on what I read, if the Lightning Network is in position, the transaction fees in the bitcoin side chains will be greatly reduced. Not sure how long it takes to implement the LN.. Hopefully not too late as Bitcoin user base is growing fast these days
In theory, at least. It's also worth noting that the Lightning Network can't really work at its best without segwit. Segwit adoption is still fairly low, so we'll have to wait a while for that. Only then will we be able to consider implementing it fully, probably. Some altcoins already implement the Lightning Network with good success, but it's still relatively new. Altcoins are testing it for Bitcoin, in a sense, so when it does get implemented in the Bitcoin network, I'm sure it will be close to flawless. |
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...wow. Should I even bother looking up what these coins do differently? At this point, these forks are a waste of time. It seems to me like the community has gotten a little bit desensitized with all these forks. Heck, I'm not even interested in the airdrops. This is getting ridiculous.
As for their long term effects, I'm pretty sure it's zero. None of these will be able to generate enough support and interest to be considered a contender for the true Bitcoin title. They may be able to cause mini pumps just because some people want airdrops, and nothing else. They'll be lucky enough for exchanges to even list them though.
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I'm sure that it's also in the forker's consideration. Whether it's the primary consideration though, nobody but them really knows. Take Segwit2x for example. The fork itself probably means well, and does propose a solution to the problem, but it was planned without considering the input and consent of the community. There were obviously glaring issues which they didn't want to address, and they just seemed to want to go through with it to attack core.
In the end, everyone is coming up with different solutions to address Bitcoin's scaling, but it could be hard to determine which contentious forks are genuinely trying to make Bitcoin better and which ones are power grabs.
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You could look at it that way, but for the most part, forked coins are useless. Bitcoin Cash is obviously enjoying success of its own, but I think that's only because there is a faction that believes it's the true Bitcoin, and there may be some people out there who disagree with segwit. People seem to have cooled off regarding the idea of forks. Bitcoin Diamond is barely generating buzz, and Bitcoin Gold is pretty much worth nothing. Not all forks will get support. If you were going to hold Bitcoin, forks shouldn't be your main consideration. Does anyone know how many total forks will be there after bitcoin diamond? Anyone can create their own fork, so no. I'm guessing there will be a lot, but most if not all of them will turn out to be trash. So if i have bitcoin cash and gold, would you say its best to hold it? I would personally sell, but that's entirely based on your prerogative. People who held Bitcoin Cash did get some profits, but you also run the risk of everyone else dumping, making it worthless. |
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Bitcoin Companies are mostly exchanges, and with every country having anti money laundering laws of sorts, it would be far more complicated for them to operate overseas. They're in no position to leverage for tax subsidies. Exchanges are on shaky enough grounds as is.
I don't think they'll be at all motivated for tax incentives for private citizens either. I'm sure they would much rather their citizens use their own currency, because there's this issue of Bitcoin being uncontrollable.
Either way, in my opinion, Bitcoin companies are still pretty much nothing in the grand scheme of things for governments to play nice with them. We'll have to wait and see how the industry evolves.
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That's insane. I didn't think the problem was that bad. I honestly didn't expect the lost coins to even reach a million, besides Satoshi's presumed lost coins. The owners in the early days must be hitting themselves in the head right about now.
Still though, maybe we should take this news with a grain of salt? Chainanalysis' methodology is apparently confidential, so there's no way to gauge how accurate their data is. I guess it doesn't matter at the end of the day though, and the less supply in circulation, the better off we are.
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The price of the Bitcoin is raising day by day but scalability is still the biggest problem. Segwit was introduced on Bitcoin network way back but why I see no adoption? Is it too complicated?
What does the core team working on? Will it solve scalability issues? Looks like other alts will takeover Bitcoin's position if these issues aren't solved.
Honestly, I think a lot of users have no idea what segwit does and how to use it lol. Most only seem to care that the price is surging. For as long as they're getting money and are able to transfer coins, they're completely satisfied. It's not a complication issue either. You only really have to switch to a segwit supported wallet and you're done. Some people (like me sadly lol) couldn't be bothered to transfer their coins. As for alts taking over, that's not going to happen in the foreseeable future. The scaling problem is there, but we haven't gotten enough adoption for it to actually start being a problem. I have no idea what core is doing, but I do hope they're working on more solutions under wraps. |
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Not really. We're not feeling any significant effects right now. It's mostly a future-proofing problem. Newbies don't come into the cyrptocurrency scene saying "Oh, Bitcoin has a scaling problem, I'll take my money elsewhere." For as long as it's valuable, and it works, there shouldn't be a problem. And that's where we currently are. The only notable effect of this scaling problem I can think of is the forks. Everyone has their own ideas in solving it. If we didn't have a scaling problem, I don't think hard forks would be as attractive.
As for what small holders like us can do, all I can really think of is use segwit. I haven't yet, but I really should lol, and so should everyone else.
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I feel that burst is too strong a term. What happened to Bitcoin Cash was a burst. It was pumped, and was subsequently, purposefully dumped. It had no reason otherwise to reach those prices. Bitcoin's surge, on the other hand, I think is organic. There are no high profile forks, so there are no pumps from altcoins. It's just that people are really starting to gain confidence in it and its future, with all the news about futures trading, and wealth managers acknowledging it.
We may be due for a correction, not a burst, sometime soon, but with what's currently going on, it's going to be a while before we see Bitcoin before $7000 again, if at all.
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Fuck mate, this is not good, not good at all fuck. don't you know what they are trying to do with Bitcoin? first accumulating millions of Bitcoins.
And then forking it a few times, creating some other centralized blockchains, now they pump and announce that wall street is going to engage
With Bitcoin, price is also going up, when they have everyone in, they will fuck us all for good by dumping everything and moving to the coin
Under their control, people will see when wall street moved in price increased and when they have left, price decreased, people will follow these
Manipulative mother fuckers like they're doing it now. if you want to stop this from happening you should stop paying more than $8000 for Btc.
This is a nightmare for Bitcoin.
I feel like you're a wee bit overreacting. It's not like Wall Street acts as a single entity. They'll be buying Bitcoins mostly for their customers, not themselves. Some firms might be able to gather up enough Bitcoins to move the market, but at that point, they have just as much, if not much more, to lose as the average HODLer. I don't think Wall Street is setting up for a massive conspiracy. Bitcoin is far harder to control than most people give it credit for. I think this is good for Bitcoin overall. Wall Street being into Bitcoins should give more people confidence that it's here to stay. I guess we'll see though. |
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If you add these together and divide them by the total number of Bitcoin in circulation you get what Bitcoin's true value is once it becomes widespread adopted. (7,829,183,704,925 + 75,000,000,000,000) / 21,000,000 = $3,944,246.84 per coin  How did you arrive at this equation? Bitcoin is independent from gold and USD. I don't think their values would be a factor to Bitcoin's. The value itself isn't far-fetched, but there's no way to really accurately predict the actual number. We can't even predict the price from one hour away, let alone a century away. It's also worth noting that we have no clue exactly how much Bitcoins are in circulation, as plenty seem to have been lost forever -- this is a vital piece of information as Satoshi alone is estimated to have disappeared with around a million Bitcoins. I'm sure every single coin can affect the end value drastically. Either way, it's a pointless thought exercise. We'll know for sure when we get there, and we won't in our lifetimes. |
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