This is a reality in the field of how bankers think. They have thoughts that are very different from us, because a banker will think how their financial industry can still exist without systemic problems, instead of focusing on how people's welfare can be achieved. They never think about the perceptions of the general public, they only think about the perceptions of investors for the sustainability of their industry.
This is not surprising, because there is nothing personal, just pure business  For the growth of people's well-being is not the direct responsibility of either the banking sector or the Central Bank employees, no matter what beautiful words they say to us and no matter what good intentions they hide behind. Undoubtedly, the financial industry is experiencing a lot of problems, but the banking sector will not deal with them directly, because this is not their responsibility, and Central banks only implement the line that the Executive and legislative branches of the state have drawn for them. |
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Paypal is not a blockchain wallet, paypal is not in the crypto itself neither, paypal is just a website that you can use as a "ledger" and thats it, so there is no need for blockchain or anything else there. If person A has 1 bitcoin and Person B has none, when Person A sends his 1 bitcoin to Person B the money that should change is only digital on paypals website and nowhere else, it is not a transaction on blockchain.
So, the moment your money goes inside paypal, it is no longer bitcoin itself, it is a claim to a bitcoin which is what paypal is offering anyway, they never lied about this one. Once again, I implore everyone to just look at this as a start and look at it as a way to see what bitcoin can become in the future via paypal instead of trying to see what is lacking right now.
I also believe that in the near future, a company like PayPal has no reason to destroy its own infrastructure and massively switch to using the bitcoin blockchain or other alternative cryptocurrencies. On the one hand, the acceptance of cryptocurrencies by such a large payment service can increase the demand for bitcoin and altcoins, and also serves as a good sign for other doubting players in the payment market. On the other hand, this should not have any significant impact on the infrastructure and structure of the payment market. |
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It's really bad for Europe currently. I can't believe that the second wave has hit them. The only thing they have right now is the previous experience. But most of all, people have to raise their understanding before this pandemic. As far as I know, Western people do not like to be imposed with new laws and regulations. They act arbitrarily without noticing that they might be infected with the virus. I guess the government needs to be more strict so as to force people to obey new rules. Only that way may stop the virus once and for all
Vaccines are coming to our town. Scientists and doctors from all over the world are trying their best to create a cure for this pandemic. Work from home is the best option right now. Stay home with your kids. Don't go around. Don't make crowd with other people
This spring, there was still a faint hope that the virus would end its rampant activity by summer and disappear like a terrible nightmare in the Sands of time by summer. But autumn came and the second wave of the epidemic came, which clearly indicates to us that a new soldier has appeared in the regiment of annual acute viral infections and flu strains, which will now come like the flu every year and can only be relatively neutralized by mass vaccination or a large number of people who have been ill in the population and have developed immunity. I'm afraid to make a mistake, but everything is coming to the fact that this is the scenario of our life for the next few years. |
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I don't think so
Moreover, I can't even fathom your logic behind this assumption. Bitcoin mass adoption as a means of payment would naturally increase the demand for Bitcoin, and given that there are only so many bitcoins in existence (read, supply cannot rise), it will necessarily bring about higher prices. In a nutshell, you can't get around the law of supply and demand, which is going to hold in this case. With that said, it is still unlikely that people are going to use Bitcoin specifically as a medium of exchange en masse
Bitcoin is not such a convenient medium for small daily payments as other alternative coins, so I think that Bitcoin is definitely in danger of being introduced as such, and many people on this forum are sincerely mistaken about this. Therefore, the near future for bitcoin will continue to develop as an asset for accumulation and speculation for financial and exchange traders and players in the vast majority of cases. Also, bitcoin can serve as a means of transfer for relatively large amounts in a small number of cases. |
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I think pretty much every country around the world will introduce these sort of laws eventually - except the the current (and new?) tax havens of course who will offer this sort of shielding as protection for their clients. China in particular does not want any funds outside of the control of the CCP and it was inevitable that they would want to track where money is moving. As Hong Kong has all prior freedoms stripped away, bit by bit, it will eventually just end up as yet another Chinese city - instead of the pioneer booming financial hub it once was.
Hong Kong served as a financial gateway to mainland China at one time before its reunification with China. During this time, mainland China has already grown its own financial centers such as Shanghai and Hong Kong is no longer so important for the Chinese economy. Moreover, the United States, together with the countries that joined it, by imposing its sanctions against Hong Kong, only deepen this process and the speed of the process. Paradoxically, the United States, while verbally protecting democracy in Hong Kong with its sanctions, is acting in the interests of China, reducing the importance of Hong Kong as a financial center, while increasing the role of internal Chinese financial centers. |
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Everything in this world will change when AI robots is perfectly made. It helps every people to have an accurate work and give a complete services that made a business grow more further. However, workers will lose also their job because AI can do it all alone without a single help of a worker. Its only good to the employer and customer because of the quality it can made. But to the side of the people who lost jobs because there is an alternative ways already, I think its hard for them to adjust in situations like this.
The system of unconditional basic income can serve as a way out of this situation. Humanity should be ashamed if in the future, with total robotization, there will be hunger and lack of effective medical care in the absence of funds for a citizen of the state. The current artificial intelligence is the first bell for humanity to create a fairer system of the world order. Some countries are already trying to take some steps in this direction with varying success, because there are many pitfalls in this issue, but it is still a question of the near future. |
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It's good for the market surprisingly because when the pandemic hit the news, there was a big crash, but the market eventually recovers and it's now doing great in the market so I can say that Bitcoin is doing great because the other investment market is not doing good, it just shows that whatever happens Bitcoin and Cryptocurrency is here to stay.
Everything is not so good, because the second wave of the pandemic is coming and there is no clarity how the traditional market and the cryptocurrency market will react to this event. The previous market recovery was due, among other things, to the summer decline in the growth of coronavirus cases and the subsequent resumption of economic activity. Let's hope for the best, but negative options in the form of a collapse in the exchange rate of bitcoin should also be borne in mind. |
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I think we should accept and know how to live with COVID-19, and without these lockdowns, I mean the fatality rate of this new virus are very low compared to those virus that humans encountered based on history. The virus has been in existing for about a year now, I think we can conclude that the fatality is very low, and we move forward by reopening the global economy with strict health protocols of course. And we as people should respect each other by wearing face mask/shield. I think the major concern
if countries won't be imposing lockdowns is that the current healthcare systems will get overwhelm if there would be a spike in new positive cases. Then I think there should be another solutions to this like asymptomatic person shall only be isolated from his home if live alone, or including those with mild symptons.
The relatively low fatality rate of this virus is offset by a higher infection rate, and then the law of large numbers comes into force. But I hope no one will deny that the fatality rate of this new coronavirus is higher than that of ordinary flu. Let's hope that the new coronavirus will pose a much less danger in a few years, but for now we all need to come to terms with the unpopular decisions of the governments of the states to combat the epidemic. |
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It seems to me that these are vain hopes that banks will one day disappear. Even if they do not exist physically and they do not have offices and real estate in which they are now, they will continue to exist virtually. In the form of portals or in the form of interactive decentralized services. I think it will be that way.
Banks live and thrive over their customer's trust and money. Their biggest ways of earning profits is through investments and ironically, through loans made by the customer. That being said, as the economy continuously decline due to the pandemic, it is expected that people will look for alternative ways of investing rather than sticking with banks. This is where bitcoin comes in. It's going to be a long process, but this is the first of the many steps bitcoin will take towards winning over corporations. For some reason, I have a persistent feeling that corporations with their huge resources will ultimately win in the end Human self-organization is a great thing, but it usually gives in to a clearly organized hierarchical structure, which in its current manifestation is a modern corporation. The pandemic is hitting small businesses much harder in the current situation than large corporations that have accumulated reserves to survive the current situation. The state also provides assistance to big business. |
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Online education could be a huge improvement but it could also be a huge problem at the same time as well. I can't explain to you how it could be both of those things at the same time as well as having a child could explain it to you, if you have a kid and they do online education you could totally see it yourself why it could be wonderful and bad at the same time.
But, the shortest way I could explain would be the fact that kids these days care about what is on screen more often than what their teacher says and when their teacher is on screen it is easier to focus as well, plus there is less commotion between friends during class since you are physically not there so you can focus easier, this is the good part.
Bad part is, kids should be kids and meet and play and have fun, when they are stuck at home that is bad personal development, plus you could always mute and cheat your way out and watch netflix meanwhile, those are bad.
A person is still a social being and he needs direct communication, and not only through technical means of communication. This applies even more to children, because at this age the skills of social interaction with other members of society are laid and the school serves as an excellent platform for practicing such interaction. Another side effect of the current online activity is that there is no clear boundary between work and study activities and home activities, and because of this, many of them lose their ability to work. |
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Many people are still use to fiat currency which is very easy for those who understand who to use it to invest. Even government are wondering the way bitcoin and other cryptocurrencies is working that is making them to Show some interest on cryptocurrency. Even those the government switch to cryptocurrency bitcoin and Ethereum will still be top the currency.
I think it will hard government to operate in a decentralized currency which they can't have access to market exchange. Bitcoin and Ethereum will still maintain their position in the market of exchange.
Digital currencies of central banks and classic cryptocurrencies will lead a parallel existence in any case, and we will hope that states will not declare a crusade against cryptocurrencies after the introduction of their blockchain-based projects. Any sovereign state must have the tools to conduct its activities and its own currency is one of these tools. Therefore, in day-to-day economic activity, priority will be given to its own currency and not cryptocurrencies. |
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PayPal is very difficult to elucidate a part of the transaction fee. it's not known exactly what proportion PayPal will charge for the transaction. the opposite cryptocurrencies to be added to PayPal services after Bitcoin are Ethereum, Lightcoin and Bitcoin Cash. All are often stored directly in PayPal Digital Wallet. PayPal added that as a part of this service PayPal will provide educational materials to account holders to assist customers to understand the cryptocurrency ecosystem. PayPal will convert cryptocurrency into national currency for the utilization of virtual coins. companies that receive paid money will receive the proper amount of pounds or dollars rather than virtual coins the report said.
In general, it turns out a situation in which there is a departure from the principles of Satoshi Nakamoto and for the sake of which all this was started. PayPal will make transactions on its own without affecting the cryptocurrency blockchains at all, and bitcoin will only serve as a record in their internal database. The blockchain will be used only in cases when the client of the payment service will enter his amount there and when the client will withdraw the amount into his cryptocurrency wallet. |
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Cashless payments is one positive but the biggest positive I have seen is the education for students being provided online which actually was not going to happen even in the next 25 years considering the pandemic did not happened. I know the pandemic was disastrous and prayers for all who suffered and died but we have to look for the positives now as corona virus impact is fading.
The education system needed a lift and because of the virus it was forced for the colleges and schools to make education online and that actually helped students because education in class was never as good as the education online and students can record and see it again which was not possible in classes.
Oh, I would not say that the influence of the coronavirus is waning, on the contrary, we are now seeing a new rise in the incidence. Online education has many advantages and will surely increase its share after the current events, but nevertheless, the interaction of the teacher and the student has not been canceled and the interaction is more effective with direct contact. Thanks to the pandemic, no matter how terrible it was, we got an acceleration in the implementation of many processes taking place online, including the rise of an even larger share of digital payments. |
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The fiat will stay as it is as long as the government and the bankers will support it, the bankers for sure will never let go the fiat and they will do crazy things for the people to continue supporting fiat currencies. In my country, there are now a lot of people who are becoming aware on what are cryptocurrencies especially the bitcoin and ethereum but there is a big problem because there is a misconception when they see it as investment and not a currency that can help them to have better and convenient payment system. There is a bright future for the cashless society but still it will take a very long time for the people to adapt it.
The government will always support its fiat currency, because it prints money itself and is responsible for the functioning of the economy and the well-being of its own citizens, unlike cryptocurrency developers, who may be located in another state and are deeply indifferent to issues of health care, defense, payment of pensions, support of poor citizens ... I sympathize with cryptocurrencies, but against such a simplification of such a complex issue. |
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Here in India, the food prices were stable for the last 5-6 years. But during the last few months, the prices have risen for a few items. There is no need to panic yet, but it is highly unusual. The farmers are having surplus output and everyone were expecting the prices to go down. And in the end we have to deal with rising prices. And the biggest tragedy is that it is not the farmers who are profiting out if it. Only the middle-men are making profits.
This always happens and it is one of the pillars of the modern economy. Selling goods is a separate type of activity and not everyone has the necessary knowledge and skills in such matters. Also, not every food manufacturer has the means of transportation, space and time to sell their goods. Therefore, not everything is so simple. There will always be intermediaries between the manufacturer and the buyer, unless the buyer himself goes to buy to the seller or vice versa. |
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You are talking about a different matter (aka "non sequitur")
Whether it is the worst thing or otherwise, inflation may help debtors as it devalues money and debts denominated in that money. In a more general sense, we can turn inflation in our favor because sometimes two evils or two minuses (debt plus inflation, in this case) can produce a good or a plus. Though I agree that it is not like everyone and his grandma can ride inflation to their advantage, through debt or other means
Inflation is generally a useful thing within reasonable limits and stimulates the economy if the government makes inflation in a small amount. A spasmodic one-time inflation, on the one hand, helps debtors, but painfully hits the savings of citizens and undermines citizens' faith in the economic policy of the state. It also poses a problem with long-term investments. Large inflation is the most important indicator of the wrong economic policy of the state in the vast majority of cases and makes it possible to level the blunders of state policy at the expense of ordinary citizens. |
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China may be a very powerful country during which case the digital yuan will make China stronger and therefore the transaction is predicted to be easier without the medium of banking. A weaker yuan makes Chinese exports more competitive. For this reason if you purchase those products in foreign currency the worth are going to be lower. Weak yuan will make importing goods to China costlier. this may cause inflation to rise and hurt the Chinese economy and put pressure on moneylenders to take a position in other assets.
It's not all that simple I agree that the banking system can do much more useful things than serve the monetary transactions of citizens than the digital yuan project will directly deal with. But the exclusion of the banking system from this process can have a detrimental effect on the banking system itself, depriving the state of a part of the taxes paid for this. This structural reform will be beneficial in the future, but may have some negative impact now. |
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The economy will survive anyway. The losses will be huge, but governments believe it is better to have economic losses than loss of human lives. Also, do not forget that in addition to direct deaths from the epidemic, there may be health consequences that will remain for a lifetime. It is insanely pity for the failing enterprises, but after overcoming the consequences of the pandemics, one should expect the return of such enterprises, but with new owners. There is such an expression - a holy place is never empty and here it fits very precisely.
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However China only gets dollars, they have so much dollars in many forms cash,bonds,treasury,stocks and many many other forms that I think it would be understandable if we would say they want to get rid of it. How could they? They could spend their dollars to buy bitcoin China doesnt need to do that, one of the most important factors with dollar is in many parts of the world it means oil because oil is traded, sold and exchanged via the dollar system. Even in Russia even in countries which oppose USA policy in every way they still are using dollar to be part of the oil trade. This is especially key to China who do not have many oil resources, they are greatly lacking in energy overall only coal do they have. So when you ask what does China do with excess Dollars, they could spend almost all of it on oil and other commodities and buying resources production and contracts extending twenty years into the future to secure Chinas growth. To some extent they are doing this and reducing Dollar use, I dont see crypto is required to continue in this strategy. I agree with your opinion. China did not intend and is not going to recognize bitcoin at the state level at this point in time, so they will spend their accumulated dollar reserves on completely different purposes. If the leading countries start making their government savings in bitcoin, then China may change its position and follow their example. But so far this should not be expected from the Chinese government. |
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Many are still holding their breath, waiting for politicians to fix all their problems, deliver them from their sins and save them. The harsh reality is, many politicians don't care about those they represent or serving the public good. They only care about money.
Real and lasting positive change seldom comes from the top. It has to come from the bottom, at a grassroots level. From the average and the poor. They can learn to communicate, educate themselves and work together. This gives them real collective bargaining and leverage. Which they can utilize to improve circumstances and elevate their standard of living.
Such a system as democracy was created by previous generations to choose politicians whose professional duty is to solve all problems and save sins and protect the population You can engage in beautiful chatter as much as you want but if you are engaged in the creation of structures parallel to the state, then this will not lead to anything good in the end. Amateur is a great thing but professionals should do it better because it is their job. |
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