I saw many people here wondering what to do with Bitcoin, hold, sell, invest...The scams, the ugly side of people.
Just remember couple of years ago, the FBI and the Federal Reserve tried to kill it, and now we are talking or near $250 Billion capital.
In next few years it will reach $1 Trillion.
MAN THE FUCK UP! This is not money, this is not commodity! This is not a stock or bonds...THIS IS BITCOIN.
Real Banksy
[ As in prank] or [Maybe not]
There is a saying that "freedom is not given, it is taken" and thats that opportunity that bitcoin offers anyone who is ready to take that freedom. The chance is there but it won't be forced on anyone who is not ready because that will be going against the freedom it promises. However, freedom is not absolute and at same time, its not unlimited. That is why we must enjoy that freedom within the confines of the law and not abuse the freedom for impunity because the bigger arm of the law is watching that alone is evident in the series of conviction about people who abuse the freedom by engaging in fraudulent activities. |
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If this is possible, then there is no a big fault on the part of block chain because it then mean that I can go over the internet, search bitcoin address with a lot of money then I create a bounty like this. For someone who have such amount of btc at this time means that you must have been involved early and by default should have basic knowledge about how password importance is when it comes to bitcoin.
And come to think of it, how do one even know you own the account itself because I don't understand how you would remember half password and not the remainder.
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In a country like the United States and other developed countries, you don't even need to be forced you will willingly disclose your income because of the environment over there and how effective the IRS is, no matter how secure you could be so far you will need to convert to fiat using the bank, you are definitely going to be located and charged accordingly which could turn out to be massive in a case you are trying to avoid tax and you are caught.
But for some other countries, there is no way to force anybody because there is no enough database to track users income in proportion to their hours of work. In those countries, its pretty easier to avoid payment of tax and still get away with it.
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hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using
A lot of countries have several reasons and most times its beyond being objective and part of the reasons would include 1. Developing countries will have difficulty in stopping bitcoin at the moment because of the costs involved and at the same time the resources to be dedicated for such might not be available and the amount to go after might not be proportional to the cost to be dedicated for such. 2. To the advanced countries, its either of two ways which wont be limited though 1. They are trying to stop it but they are yet to get a breakthrough in which they are using regulations to buy time. 2. Others are scared of the future in case the world changes to adopt a digital currency and they have stopped their own citizens, it then makes them to start from the beginning even after they had the opportunity to be at the forefront. |
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Its possible that it could be that amount because of the Learning Curve theory which means that as much as an event is being done, expertise is maintained thereby reducing the cost in the long run which I believe that is what is happening here and not the cost from the initial set up cost. Also, he might only be considering the relevant costs alone because all other costs such as the equipment they are fixed cost or sunk cost which are no longer important in decision making thereby I agree with him on this. Another reason is that the costs he quoted might be the average costs over a period of time and mining machine. |
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Hello everyone,
I am still fairly new to cryptocurrency, therefore that challenge is probably dumb... bare with me personally.
If a person has Holdings that value tens of thousands of 83000, let us imagine $20,000,000 plus they would like to cash deposit and it for their banking account, is it possible?has Holdings that value millions of 2500, let's say $20,000,000 and they would like to cash deposit and it for their banking accounts, how is it feasible?
Since Just BTC isn't controlled by banks, it's up for your own exchange websites to handle this trade (so I assume), so who'll cover this cash amount into this individual?
I reside in Australia and that I use two sites for the cryptocurrency, CoinSpot (multi-wallet and swap site) and Coinjar (Bit-coin wallet and exchange). I emailed them a support email, asking for the exact same, as It is not clear if it's really a country/company policy that dictates exactly what goes on in such situations.
Cheers.
The fact is its not possible to withdraw such amount via bitcoin because you will have to go through bank to have access to such funds coupled with the regulation of the banking system there is no way there won't be element of money laundering involved. The only set of people allowed to make such movement of funds is government entities and multi national companies such as General Electric for the construction of a power station or railway station and before that, a lot of paper works must have been filled and submitted. Rather than looking at that option because its not possible the best bet is to do it piece meal basis and give it time not to run into trouble because whether you like it or not, someone is watching. |
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So now that large Banks and investment firms are starting to get involved, do you think they will try to manufacture crash and correction scares to trigger more doubt and an exodus of "the weak hands"? For some reason I feel like we may see this kind of game play involving bitcoin, unless the exchanges try and do something about it. I know many exchanges have limits to help both themselves and market fluctuations. But imagine a massive sell off that kpe bitcoin at the same price for years or made it go down severely enough to trigger worry among even veteran users. is this possible? should more precautions be taken against greedy abuse of the system. is the system already to resilient to be messed with by them. thoughts please.  Point of correction, large banks and investment firms are not starting to get involved, they are already involved and everyone is trying to make the best out of the current situation. Whether they will manipulate or not, any person in bitcoin knows that the volatility of price will need to be attached to one reason and when we can't find any reason, we give credit to the whales without knowing who they are I.e it could also be the banks that you are making reference to which also leads to the fact that the manipulation has been ongoing. What to do to curb or stop it, its based on individual resolution not to be used as pawns in the scheme of things. Get understanding and never be ruled by emotions because that will be the worst decision after all. |
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I am trying to put all of my skills to use, especially if I can use them to earn Bitcoin or cryptocurrencies. I don't know about you, but I prefer to earn crypto rather than buying it.
This is one hell of a service you are offering and this is something that I can't imagine someone would offer but since you are in the forum, I would like to offer some advice based on your introduction that I read. 1. The community here is generally hostile to trolls and the moment it gets to a head, you will be banned from accessing the forum. 2. You talked about how successful you were able to impersonate and was successful which only happen because there is no way to identify the real owner of the account but guess what, over here there is one infallible method which no matter how you impersonate, you will have to proof ownership of such before you will be taken serious. 3. Rather than going this route to earn coins, why not channel your energy into some decent ventures such as PR, Community Manager and others. My humble opinion. |
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Death is one sure thing that would come but preparing for it is another key thing that one must also do because it can happen anytime whatsoever when there are over 1001 ways to die. For me, I have a diary where I wrote the whole of the passwords and pins. My sibling is already into crypto currency, all that is needed is just for him to get this details and set the ball rolling without too much difficulty whatsoever and I guess that's what everybody should put in plan right from today if you haven't.
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Its true that bitcoin is recovering and its sure that recovery has been a sustaining one even though the all time high is yet to be reached, but while I will agree that we are doing well without Jamie Dimon, it would be wrong to say that without China.
Because the basis of bitcoin transactions which rest on the activities of the miners is still dependent on that part of the world and that means until there are other big mining farms spread across the world, China will and continue to matter on what happens to bitcoin even after we have confirmation that they are stopping exchange sites.
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I think for bitcoin to be a real currency, government have to accept it first.
So I ask what country do you think will recognize it as a currency?
The truth is that I don't see any country adopting bitcoin just yet not because its bad or because of all the bad happenings they are quick to ascribe to bitcoin but because of the pride of the managers of the economy. The prefer to continue with policies of Cambridge and Oxford thesis to be imported into their economy without having to understudy what will suit their countries the most even the economy of where the schools are domiciled, are only struggling. Until when they realise the whole economic method are only temporal for keeping the economy in shape, they would try something else. |
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I had known this is what will happen eventually and that is why there is no official statement from them concerning the ban. What j think sent some warnings to them was because the moment the rumor was going round, it was equally creating another opportunity for countries like Japan and South Korea ready to fill the gap created by their proposed exit even before announcement. That alone is enough to make them have a change of heart. Another is looking at the future because the moment they are able to lose the number 1 spot finally, its never coming back to them and bitcoin is not stopping so not to sound hypocritical, they had to come with more spinning of regulations which we all know was not the plan initially. |
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I actually expect nothing less that what is happening because every subsequent fork will continue to be treated as an alt coin while bitcoin will continue to hold forth as the primary coin in the industry. This is just because in as much as they are core believers they dont want to be seen as stoppers of "innovations" in this world afterall, a lot of participants will still call them out in case they are not credited with their portion of the new coin. Whether the next fork is a joke, mess or anything related to that is not in our place to stop or decide and when the go ahead has been decided, its hardly any discussion can stop it and bitcoin itself the way its designed, allowed for such. However, its our sole decision to either use it or not and I know a lot of people will use that wisely. Is not suprise bitfinex decision to list the hard fork NYA token not as Bitcoin but as a new token with ticker B2X even as they say this token maybe will have the majority of hashpower. Bitcoin will still trading as bitcoin and as i have predict they will stop every desposit withdraw after the fork to split their coins and protect their platform from replay attack. https://www.bitfinex.com/posts/223The lack of strong two-way replay protection in Segwit2x means that we must take steps to protect customer funds. At the moment of the fork, all deposits and withdrawals for both BTC and B2X will be halted until we are able to: 1. ‘taint’ our customers’ bitcoins to ensure withdrawals cannot be replayed on both chains; and, 2. ensure that we can properly credit deposits in the event a transaction is replayed on both chains. We expect this process to require at least 24 hours, and potentially significantly longer. If the the event happens, announcements will be made throughout the process to keep everyone up to date. The real question now is this. Why Bitcoin need such a mess? What is the rush from the startup, miners to create such a huge confusion to the market and finally to built their doomstone? I strongly believe that this hard fork will be an epic fail act from the startups, miners that will follow it. In the other hand this epic fail will give a huge power to the winner of this power game, bitcoin developers. |
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So with the SEC actually going after individual projects, it seems that the only way to pass the Howey test and still offer something that people actually want to buy is by offering a utility token. Not a promise of profit; its more of a purchase than an investment. You are essentially buying brand credits for whatever functions that platform provides. If the token is to increase in value, it would due to market speculation on the "scrip", not because of on increase of valuation in the underlying asset (the issuing company). Is this truly a work around? fundamentally, the price is tied to the valuation of the brand, even if the share doesnt represent equity. its like buying walmart store cards in a walmart ico  I just laugh at this illustration because most times its not only the form that matters but also the intention which will only be interpreted in the law court. SEC I know would thought about that angle and even though its dicey, they can still act on it then push the onus of otherwise on the promoters to come and defend while its otherwise. Its a strategy and it has worked quite a number of promoters or developers would want to shy away from such back and forth litigation in proving who or who is not right and at the end of the day it might amount to waste of time and energy. The best way to go about it, is to either comply with their rule or avoid it all together rather than looking for loopholes in those laws. |
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Green here Just wanted to ask, how many of you here actually use bitcoin as a safe haven asset, particularly against the USD? I always see the price uptick a bit (considerably, sometimes) when Trump starts tweeting about NK, the imminent threat of actual conflict with another nuclear armed country does something magical for the price. But this seems like a pretty mature strategy; most of the market participants here are anything but. So it puzzles me why the trend would reflect on bitcoin as strongly as it does (I understand gold and silver, these are the long established "safe have assets" of traditional finance. Is this an indication more traditional investors, and large ones at that, have taken more than an academic interest in btc? Thoughts? (the topics were bummy, wanted to talk about something legit) The tension between North Korea and the US is just going to be a mere tension as I dont see any of them ready to go into battle considering the fact that this will not be about either military might but on the basis of missiles and counter missiles. The effect on bitcoin is what I am still trying to grasp and how people will want to use bitcoin as a safe haven. For me, I think keeping in safe haven must have happen when you have enough already then keeping the rest but over here, quite a number of people are doing several things everyday to earn something be it gambling, trading, freelancing etc. But to have enough to keep for NK war. If the war should eventually happen, I think survival will be priority other than safe haven. |
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Having read the article stated, it seems the country has a stern regulation against bitcoin and this is something we are expecting to see, The people arrested are accused of running a bitcoin exchange site which is obviously against their laws there but I feel what they are doing is just to slow down the process because those seven arrested would surely not the only ones running an exchange in the whole of the country and also gave an opportunity to others to be secure in their dealings with the outside world. What they did is to send a message to the outside world in other to make them panic but like I said, it will only slow it down and not stop it. |
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This is a further testimony that the managers of the economy are only doing trial and error without having any solution in sight and this is not happening alone in India but also other countries who have not blown out of proportion like India in this case. Its a notice that all over the world we are sitting on a time bomb. One would imagine that India taking a massive economic decision by demonetizing as high as 86% of their currency then turn out to be a disaster.
The way out is just to try do things differently by adopting the non-conventional way of handling issues which is adoption of crypto-currency but unfortunately their pride and other political considerations will not allow it.
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Morning Folks,
It's more of ridiculous when someone just pulls up a subject and without knowing anything, starts shouting that "This is nothing, this is a fraud!"
You must be aware of the comments passed by JP Morgan's CEO Jamie Dimon that "Bitcoin is a fraud".
Now, to mention here, someone called as "Wolf of Wall Street" and a former stockbroker Jordan Belfort, going with the flow, added that "He (Jamie) is right, I don't think Bitcoin is a great model."
Well, the more negativity they will spread, the more Bitcoin will surpass huge levels of success by slapping their faces with positive values.
TBH, I would like to ask these people that "WHO THE FUCK HAS ASKED YOU GUYS FOR YOUR OPINION HERE?"
Those guys times without number always believe their opinion matters that's why they keep on shunning it out and I know its because when Jamie outburst happen and there was a crash, a lot of people even those who have been involved in the block chain and cryto currency were quick to ascribe the reason to bitcoin thereby honoring him with such high title then others wants to go that way. If we had all accepted that its normal that bitcoin volatility is something we can't do anything about, and Jamie outburst was just a coincidence, then I am sure we won't be dealing with this at this time. |
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I'm new to the Bitcoin / Cryptocurrency world, and the economics are pretty interesting.. My question is more of a large-scale economics question.
Would using Bitcoins, to purchase goods (not on this forum) or services, increase its perceived value due to wider exposure or level-out/decrease its perceived value by establishing an accepted value of it?
I hope that was clear enough. Just looking for ideas and thoughts.
Simplifying it along the line and law of demand and supply, that's exactly what will happen because by the time I offered to pay using bitcoin outside the forum then the merchant do his research to accept, he then consider to suggests the option to him employee whether they would prefer their take home in bitcoin or not. They in turn then influence their families and the cye continues Using the chain above, it then means for everyone who came into contact with bitcoin and acted on it then means one more person got in to the crypto to and when that happened it cause price to increase the population increase is on the demand side. |
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What do you think is future of Blockchain technology? Where do you see this in next 8-10 years?
I cannot but agree with several conclusions of others concerning how bright the future of blockchain is going to be beyond imagination and even using the forum here is a case study in the sense that the moment a username is attached to an address, then one can see the total amount that person has earned or in his wallet although we might not be able to access it but that high level of transparency. Imagine that everybody have that and names is involved which means the moment we your wallet address, we know how much you have, as a president, senator, policeman, soldier, teacher, among other professions that would not only bring transparency but curb corruption to a large extent. That is the dream of any sane country. |
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