Banks and Bitcoin are not reciprocal in nature, on the contrary, they are into fierce competition, because they represent two different worlds and that explains why we are yet to find one bank accepting deposits in Bitcoin. Some of the banks are trying to adapt the blockchain technology to come up with their own version of bitcoin, that is an attempt to centralize an established decentralized process and we can be sure, that won't work, because there in lies the key to the freedom that Bitcoin represents.

While the chance of losing Bitcoin can never be ruled out, but someone that owns and control millions of bitcoin cannot be any Joe, Tom and Anna, etc out there, not the place of thinking about tomorrow. I strongly believe such huge amount would alert any owner of the need to be cautious, so he/she would most likely leave a trace somewhere of which time would tell.

It is no surprise, Bitcoin is a big challenge to all the fiat currencies out there, because it is beyond the control of anyone of those governments and which is a reason they are fighting tooth and nail to derail it. They however woke up quite late, bitcoin and its blockchain technology is done reveling the falsehood and manipulations of the governments and its agents, that money can never remain what it used to be.

If they ever get some success in dislodging bitcoin, they would only have succeeded in laying the foundation for a more sophisticated and rugged coin to take center stage, because this is really not all about bitcoin and blockchain, but more of abolishing modern day slavery from its roots.

I don't think it is much of a gambler's philosophy than it is trader's way up the ladder of profitable trading. Losing is inevitable in a financial market, because there are countless factors at work at any point in time in the market. Understanding just that, puts a trader in the right position to research and develop ways out of such losing proposition since the market have proven to be cyclic in nature.

Forex trade can rightly be said to be riskier than cryptocurrency trade because forex trade is mainly margin trade and a trader is actually dealing with the entire economy of a country, which can be quite cumbersome compared to the economy around a coin. At any rate neither forex nor cryptocurrency trade dishes out free lunch, however a knowledgeable forex trader stands a better chance of understanding when to engage the market and when a party is spent.

You are right, the central banks and government do not create money, the ones creating money are those adding value to the society like teachers, doctors, mason man, taxi driver, etc. Government does nothing but enslave all these people by manipulating them using money.


Bitcoin is a revelation and answer to the financial crisis occasioned by the government and its agents. I like that through bitcoin, the banks which serves as government's monitoring and controlling agent, can be sidelined or forced to bend. This modern day slavery, sure have to end.

From my experience, cloud mining sites are worst than hyips, because you never got to recoup your money as in almost all the cases, they don.t even own a mine. Mining no doubt is profitable, but anyone interested in mining is better off procuring  his/her own equipment and managing their mines themselves, once bitten, twice shy!

The decentralized and unregulated nature of bitcoin have never gone down well with the government and its agents. All through  the years, they have gotten so used to monitoring and controlling people's finances and now bitcoin could upset all that. I ended my use of Coinbase, shortly after I heard the government speak through them and I pity the ones that are stuck with them.

What is worrisome about this development, is that government from other countries are watching to see how it all unfolds and are sure to tow same line, should it see the light of the day in the U.S. I am strongly against this move and I urge all those still patronizing centralized  exchanges to please procure wisdom and understanding as the real fight goes beyond coinbase.

In retrospect, whenever the rates  from an exchange site is a wide mark off the track, a grand scam is simply in the making - see Mtgox and Cryptsy. The fact they fixed a minimum amount to trade and as high 0.5 Btc and putting Paypal forward as payment system unless one is dealing in the region of 20 Btc, is enough red flags to decipher where all these is headed.

The fact, you have gotten away with your first transaction is no guarantee, the next would be all said and done. from experience, they won't strike yet, until a good number of gullible people are off their guard.

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That was hitting the nail right on the head. I feel for those waiting to hear the last of bitcoin, because they are in for the waiting of their lives. Juxtaposing bitcoin with fiats, we cannot miss to see that bitcoin can only get stronger, because it has what non of the fiats can boast of. It is truly an international currencies and that immunizes it from the manipulations and control by the government of any control.

I like to borrow a leaf from the concluding part of the article, think it is something every bitcoiner ought to preach, it is the dawn of bitcoin.

Having established that bitcoin is volatile, it stands to reason that its price swings from high to low over time, so an opportunity to grab large amount of bitcoin when the value is low, is everything  to a profitable trader, because sooner than later, those bitcoin would amount to more, when the value swings to the higher side. A trader's main task is to be able to understand when a swing is ending and simply ride the wave.

Well it is not until one spends money on something that it can be called an investment, because every time spent there is precious and actually worth a lot of money elsewhere. It is worth even more when at the end of the day, one failed to show even a dime for the time spent in a casino and in most cases, it turns out so. because these site are from the word go, structured to make the house win.

The low transaction fees, security and a global payment network is a big plus for any enterprise. All that readily translates to cheap prices and wider market. Transaction time were designed to be spontaneous, but because the technology is still evolving and its network fast expanding, delays can set in. At any rate, that is transient.

Bitcoin as a safe haven currency is a term in trading and it simply means that bitcoin provides a worthwhile alternative investment, when the fiats and its inflationary nature begins to drive people noughts. That you can see by people pulling out their money from fiat investments or savings and turning them to bitcoin as savings or investments. A good sign of that is the increasing number of people now using bitcoin.

That is essentially to place a tag on you, so the authorities can have a proof of who you are and exactly where to find you if a need arise. With fiats, that has been their joker, but bitcoin has turned out a pain and spoiler for them because it has handed stolen power back to the people.

Some people are often referred to as visionary, because they made it seeing ahead of time and that can be very well ascribed to bitcoin and blockchain technology, Satoshi invented. There is no denying the fact that bitcoin has changed the way you and I were used to money and many more people across the globe are fast keying in.

The banks across the globe are virtually one and same and they have been government eyes in monitoring and controlling people's finances, but the emergence of bitcoin puts a check or limit on that and that a source for concern for the authorities and they are trying to fight it with the power. but the people are the ones that really owns the power, so globally their failure is imminent, the increasing acceptance of bitcoin is already to late to stop.

Russia made an attempt to ban bitcoin and we know the authorities are very uncomfortable with the decentralized nature of bitcoin and which is exactly, what have made them look like toothless bull dogs, because it is a losing battling, fighting something that is not regulated and decentralized. Should be a big lesson for other countries trying to toy with bitcoin.

Those are companies that are engaged in buying and selling of coins and you would know the authorities are very much interested in knowing  who bought what and who sold what, especially the high volume ones. The spends with high volumes draws much attention from the authorities because they would want to establish and ascertain source of fund. Anti money laundry policies are not really targeted at cryptocurrencies, but on any valuable asset out there.