88 - Abiky Thank you!  |
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I've seen some governance tokens going all the way towards the "triple digits" within their initial days since launch. It's impressive how tokens like MKR and COMP reached such high prices within such a short amount of time. Uniswap's "UNI" token performed well in the past, but prices are relatively stagnant these days due to the platform's high ETH gas fees and poor performance. The current bear market made things worse, plunging major crypto asset's prices at a very fast pace. Given that governance tokens allow "hodlers" to make key decisions on decentralized trading platforms, it's possible demand will soar in the future. Do you think governance tokens (UNI, COMP, MKR) are a good long-term investment? If not, why? Your input will be greatly appreciated. Thanks in advance.  |
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The FED's hawkish measures have made the USD stronger over the past days. However, the Euro has been showing signs of "weakness" as it nears parity with the US Dollar. With 1 EUR being worth (or close to) 1 USD, there will be no difference in exchanging Bitcoin to one of these leading Fiat currencies. Sometimes I wonder what will be the implications of Bitcoin's price within the short term with both currencies (USD and EUR) in parity with one another. Will this lead BTC towards short-term gains or will everything else remain the same? Also, do you think the EUR parity with the USD is only temporary? If not, why? Your input will be greatly appreciated. Thank you very much. |
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I've been saying this for a long time now, and I will say it again. PoS will make ETH more centralized as whales and other big players in the industry will be able to participate in the network with their stake. Considering that exchanges hold most of a Blockchain network's cryptocurrency supply, changing to PoS will leave the average person out of the system for good. Of course, people will still be able to stake less than 32 ETH through staking pools. But it won't be the same as becoming a validator yourself (you won't participate in the network's consensus by staking your coins in a staking pool). A better approach for ETH would've been a hybrid PoW + PoS consensus algorithm. That way, everyone will have a final say over what new rules or decisions are made in the network. I guess Vitalik doesn't care about decentralization after all. Do you think big exchanges like Binance, FTX, and Huobi will be able to control ETH after it becomes a full-fledged cryptocurrency? if not, why? Will there still be hope for ETH after the upgrade is finalized? What will happen if ETH collapses due to centralization? Will it take the whole crypto market down with it? Your input will be greatly appreciated. Thank you. |
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Accepting bitcoin is always good idea. If you run a service and people are willing to accept it via Bitcoin then this is good for you. I plan to have a car showroom and put bitcoin there as payment method. Which would make me more profitable than Fiat cash money.
If you don't care about Bitcoin's price in Fiat terms, then there should be no problem accepting the cryptocurrency as payment method. But most merchants and businesses need to pay their bills and several other costs which can only be paid in Fiat. You can't sustain your business if Bitcoin goes all the way down the drain in an instant. For this and many other reasons, Bitcoin acceptance will remain low for the foreseeable future. The only way this would change is if the world begins relying on Bitcoin as a standard unit of account. But everything still moves around Fiat, so the odds of this happening are very slim. Hence, accepting both Bitcoin and Fiat would be the only way to go. Just my opinion |
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Many people think that cryptocurrencies were created to replace and eliminate traditional banks. This is a common mistake and it is these thoughts that are spread that make the banking system see crypto as a threat to them.
Crypto is the new financial industry and it was created for people with a need for privacy, financial freedom and it's all about personal choice. Its mission is not to kill the traditional banking system.
We should stop spreading this, in my opinion, it would be better if both existed alongside each other.
Couldn't agree more with you, mate. People are totally wrong when they think crypto can replace banks. The latter won't go away anytime soon since governments patronize them every step of the way. Banks will simply adapt themselves to the latest technological trends. It's most likely they will create blockchains of their own instead of embracing existing cryptocurrencies that are decentralized by design. Some banks offer crypto custody services to its customers, but the vast majority of these financial institutions are stuck with Fiat. I don't think crypto will disappear simply because of its decentralized and censorship-resistant design. It will simply co-exist with Fiat for generations. With CBDCs at the brink of launch, banks will only become more powerful than ever. We should focus on making crypto a better alternative to existing banks by embracing decentralization altogether. Who knows how the world's economy will look like with both types of currencies (crypto & Fiat) in play? Just my thoughts  |
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The end of Bitcoin had been predicted by many "experts" ever since Bitcoin came to its existence. BTC does have its own flaws which are being looked at as time goes by but I don't see technological advancements fast enough in the next 2-5 years that would phase out Bitcoin.
That's certainly true, mate. Bitcoin will only die if a new technology proves to be superior in the future. If something better than Blockchain comes up, then it will be the end of Bitcoin as we know it. But given that Bitcoin is open source, it's likely the community will alter its code to adapt the cryptocurrency to the new technology. If that happens, then Bitcoin would be truly "immortal". The reason why so many people are saying Bitcoin is dead it's because of the low market prices. But deep inside, Bitcoin is alive as ever. The blockchain is still running with thousands of miners and nodes maintaining it. This tells us Bitcoin is not dead yet. Development is still happening behind the scenes, so there's that. No matter how many bear markets Bitcoin goes through it will always emerge victorious because of its decentralized and censorship-resistant design. It wouldn't had been like that if BTC were centralized. We should stop focusing on BTC's price in Fiat terms and start using it as a currency. Not only you'd be contributing to the crypto economy, but you will also be making Bitcoin stronger than ever. Who knows if Bitcoin's constant success will lead Fiat towards its demise within the not-so-distant future? Just my opinion |
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Never thought I would prefer govt regulation to crypto but this is it. Yes, we're in need of regulation of crypto so we can attract more hedge funds and investors to our crypto market. So we can see a new craze of net inflow of money into crypto instead stuck in the bear market like this.
Crypto was never about becoming part of Wall Street. It was more like a libertarian/cypherpunk movement to bring an alternative financial system free from governments and third-party interference. You'd just send/receive/trade crypto without any middleman whatsoever. Unfortunately, people took crypto as a means of investment instead of a currency. Loss of funds, hacks, and other undesired situations forced governments to intervene. Now they want a piece of the pie by regulating the crypto industry. Governments won't be able to enforce regulations on decentralized networks, but they will be able to do so at centralized exchanges and service providers. You can see KYC almost everywhere, greatly defeating crypto's original purpose. At least, Bitcoin is decentralized. As long as it stays that way, there should be nothing to worry about. Just my thoughts |
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Yes, the risk is still there, I agree, even if he was able to restore it, doesn't mean that will not collapse as what happen to Luna. An I'm not sure as well if they are really over overcollaterized. Maybe they have surplus of reserves, but can they stay that long specially in the worsening market conditions? Besides, I think Justin has lost the luster of being the "shill God" of crypto. Specially the public meltdown between him and CZ.
With how shady Justin Sun's actions are, I would steer clear from USDD as much as possible. The stablecoin is still driven by algorithms even though Justin Sun claims it to be "overcollaterized". This term may just be a marketing scheme to attract as much investors into the stablecoin itself. I can't imagine how big the market crash will be if USDD loses its peg for a long period of time. Investors will be so angry they'll probably ditch stablecoins altogether. Regulators need to weigh in on the industry to prevent another downfall of such magnitude. With how bad things have turned out for algorithmic stablecoins, it seems to me that only truly collaterized stablecoins will survive. I'm fine with that as long as decentralized cryptocurrencies remain the leading force of the industry. Just my opinion |
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I don't just understand where OP got this news and idea. It is very scary to reason let alone for it to happen.
But since there is a question, let me drop my opinion.
Encryption cannot be illegal. If Encryption becomes illegal the world's privacy system will collapse. The social media chats will be public, banks cannot secure their funds and many websites will cease to exist.
Talking about cryptography. It may also not be illegal and even the government it's is into the blockchain now promoting their CBDCs. Any country who bans cryptography is risking being relegated in technology.
It's very unlikely encryption/cryptography will be banned, since they're the basis of our online security. Without these, cyberspace will become extremely vulnerable against external attacks, and manipulation by malicious actors. I think the US government was just speculating to see how the public will react towards a full encryption ban. The proposed bill in 2020 will never be approved by both chambers of Congress simply because many people oppose it. Such a ban might come into fruition in non-democratic countries (eg: China, Venezuela, Russia, North Korea) but they won't destroy the space in its entirety. As long as there's one country supporting cryptography/encryption techniques, there's still hope to preserve the very foundations of cyberspace. Cryptocurrencies have gotten this far, so I doubt they'll disappear anytime soon. Just my thoughts |
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Just a buzzword for now.
I would like to know how Dorsey even thinks it should work. Just saying that something is decentralized or is powered by blockchain doesn't really say anything. You need to build it first as not even tech for something like that exist. Not one that would justify "powering" it by blockchain what ever that even means.
We can't start thinking about the next iteration of the Web when previous versions aren't even mature for mainstream use. Web 3.0 is just starting to blossom, so the only way Web5 will come into fruition is if Web 3.0 is perfected. There are a lot of issues that need to be solved and a lot of things to be discovered for Web 3.0 to become a force to reckon with. Who knows what the future holds for the entire cyberspace? So say, Web 3.0 is way different from Web 5.0. Web 3.0 is more focus on the read-write-execution and still at a development stage while Web 5.0 is way more complex that takes advantage of emotional intelligence. I don't think that it is only a catchphrase but rather that person took advantage of technology in early development and forcibly attached himself to it by announcing a project called web5.
Jack Dorsey is just improvising how the next version of the Web would be. There's nothing set in stone that would completely replace Web 3.0. I think we're still too early to think about designing a new version of the Web. Bitcoin may be the currency of the Internet, but it isn't an "All-in-one" solution. Making Web5 run within the BTC blockchain is a bad idea in my opinion. They could use the Lightning Network, but you'd still need to deal with on-chain fees at some point. Imagine how slow and expensive Bitcoin will be if everyone around the world used it on a daily basis. For this and many other reasons, I believe Web5 will ultimately fail. No one can predict the future so either Web5 will materialize or another version will take its place. |
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0.00128BTC
Winner! PM incoming soon. Thanks everyone for participating in my auction! .00135 btc
Sorry but you didn't meet with the minimum bid requirement of the auction. Hence, the winner is JanEmil. |
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I think it's really not that important whether it's the bottom or not, the current price level is a pretty good price for entry, because during the next bull run the price would definitely be higher than $30-40k, so if you buy now, you might easily double your money in 2-3 years. There's no need to wait for $10k, regardless if it will happen or not, because by being greedy you can deny yourself a chance of making a good trade. You don't have to buy at the absolute bottom, just buy low and sell high.
If you take into consideration Bitcoin's past market prices, then yes, this is still the perfect time to buy some more. I'd say BTC is quite a bargain these days, especially when it's the most decentralized and censorship-resistant financial system in the world. Having Bitcoin in your wallet does come with its benefits. Most people don't realize this because they're only looking at BTC as an investment (not as a currency). They only want to get rich quick with BTC. But you and I know that's not the way it works. Hopefully, people will understand what Bitcoin is truly about once CBDCs take over the world. As long as Bitcoin works as intended, nothing else matters. Just my thoughts |
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How many different did he make?
Have a brown and a black.
I'm not quite sure. I saw two different editions, but it's possible he released others over time. Other members may be able to help you with this.  |
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Current high bid: 0.00128BTC
Auction ends tomorrow! |
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The panic people are newbies, they haven't been here during previous bear seasons, so it's understandable that they were worried and panicked.
We used to be like them, used to panic like them, but just go through a bear season, they will change. Simple action now just don't sell anything and hold steady and then will be great reward we will get. For us it was, but for the newcomers it was an inner battle with them.
Exactly. Those who panic sell are usually newbies who haven't experienced a bear market before. They've just got into crypto when the market was bullish thinking they would make a quick buck. Once they see everything going down the drain, they will sell believing crypto will die for good. We used to be in the same situation, but then we've changed our mindset after every bear market. Crypto was in a much worse situation a few years ago, so there's no reason to be alarmed. For what I know, the bear market (as usual) is only temporary. It's the perfect time to buy coins at a discount to sell then once prices go back up again. I'm in no hurry to see Bitcoin and other cryptocurrencies reaching new All-time-highs in price as long as their purpose is fulfilled. Whales will always accumulate, but it's important to never sell your BTC (unless you really need to) at such low prices. By doing so, you will only make the rich even richer in the long term. As long as you don't put all of your life savings into Bitcoin, you'll have nothing to worry about. Just my opinion |
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In my opinion, the current economic crisis will last another 1.5 years.
Currently, we see an increase in inflationary processes in the US and Western Europe. We have a recession and stagflation ahead of us. The US Federal Reserve will gradually raise discount rates (refinancing rates) up to 4 percent. This is the factor limiting Bitcoin's upside potential. At the same time, after some time, the world economy will come to an equilibrium state.
From 2024, a new period of economic growth will begin.
I expect the price of Bitcoin to exceed $100,000 in 2024.
I hope your prediction comes true, otherwise the global economy would be destroyed for good. Everything will depend on how long the Russia-Ukraine war and the COVID-19 pandemic will last. The longer we're stuck with these, the longer it'll take for the world's economy to recover. While Bitcoin is not issued by any government or central bank, it depends entirely on Fiat to maintain its value. If the mainstream economy is in a bad state, you can expect Bitcoin's market prices to go down the drain as people sell it to meet their needs. The same can happen vice-versa. 2024 marks another Bitcoin halving milestone, so it's likely the market will become bullish by then. We've already entered a global economic recession, so we can only hope for the best. Just my thoughts |
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To those that insist that "physical" bitcoins have no use, I want to point out the interesting fact that most of the paper USD in the world is used by people outside of the U.S.
Don't forget that many people in the world have limited access to banks and telecommunications. For them, no electronic form of currency is available and they must rely primarily on paper money or perhaps "physical" bitcoins.
You'd still need Internet access to spend the physical Bitcoin anyways. Otherwise, it's purpose would be futile. I don't see how off-chain transactions will work without ever getting settled on the Blockchain. At some point, the person needs to redeem the private key or seed to redeem his/her funds. There's no other way around it. Using a physical Bitcoin is like going back to the era of paper money. Although the latter still exists, it's usage is diminishing by the day. You can say goodbye to paper money for good once government-issued digital currencies are launched for public use. When that time comes, physical Bitcoins will only be considered as collectibles not as a tool you can use for day-to-day payments. No one knows what will happen in the future so we can only hope for the best. Just my opinion |
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I don’t care what they call it. I just hope they figure out a way to get new users to care about Bitcoin again. It’s starting to feel like nobody owns Bitcoin outside of fund managers these days. You can walk into a bar and nearly everyone will have some shitcoin with a crazy use case to pitch you but nobody owns Bitcoin. It’s viewed as a coin you need to buy shitcoins, but with the popularity of USDT & USDC, people don’t even need BTC for that anymore. Call it web69 if you want… If people can’t login to their Facebook accounts with a signed Bitcoin message before they can connect a metamask, you can kiss goodbye the next generation of Bitcoiner… Our toxic leaders are dragging us down the path of the Beta tape & 8-track. I hope the first mover crypto advantage and decentralized talking points can hold up long term because the toxic maximalism won’t.
I concur. The whole crypto/Blockchain space is being driven away from its original purpose, as VCs (venture capitalists) and big exchanges accumulate most of Bitcoin's circulating supply. How can the next iteration of the Web be decentralized if equality is missing from the system? You can see how ETH is aiming to sacrifice decentralization/equality in favor of fast transaction speeds and low fees. With a PoS version of ETH, whales, big exchanges, and VCs will win. I just hope the same doesn't happen to Bitcoin or it will be the end of decentralization for good. The community needs to stand in defense of decentralization for the benefit of the whole crypto/Blockchain space. Let's just focus on improving Web 3.0 and then we can talk about Web5. Just my thoughts |
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