It won't help them. Firstly, gold reserves, although significant, are not unlimited. Moreover, operations related to the sovereign debt of Russia are blocked, which means that Russia can replenish gold reserves only by buying out the domestic product, but cannot buy on the foreign market. Secondly, where will she sell gold in order to get the currency, without which, after some time, imported components and high-tech equipment for gold mining will run out and that's all  And there is nowhere to sell gold, or to China, and at a dumping price, because China wants it that way, and Russia, out of habit, will follow the order of the "big brother"! Without international support, Russia will be doomed to failure. I can't see how backing the Ruble against Gold will have any positive effect over the country's economy, especially when it's almost impossible to do so. Putin's days are numbered, so the faster Russia changes its regime, the better it'll be for the country. I'd say the US and its allies did a great job in trying to punish Putin's actions. But I believe that more needs to be done in order to stop the invasion for good. Once Russia backtracks, then it's possible the economy will restore itself at a slow and steady pace. Who knows what lies ahead for the Ruble before the year's end? Just my thoughts  |
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In my opinion, CBDC is an element of a digital concentration camp.
Modern world elites are concerned about the issue of establishing total control over the inhabitants of the Earth.
The Chinese government has been the most successful in developing and implementing CBDCs. China is a very centralized state that tightly controls its citizens.
CBDC is not just money. CBDC is the circulatory system of the planned economy. Regulatory authorities get the opportunity to receive real-time information about all transactions of individuals and legal entities. From an economic point of view, this can be very useful. It becomes possible to build complex supply chains, instantly eliminate cash gaps and save resources. Saving resources is a big efficiency.
That is, we are talking about increasing the efficiency of the economic system (but to the detriment of the rights and freedoms of individual citizens).
That's certainly true, mate. People seem to be missing the wider picture of CBDCs, probably because they're focused on making as much money with crypto as possible. They believe CBDCs will be as good as crypto, when that won't be the case. With a full-fledged digital economy backed by the government, we can say goodbye to privacy for good. It will enable a new era where banks and governments fully control our financial activities. Fortunately, decentralized cryptocurrencies will be there to save the day. That is if the community is able to keep them that way. Remember, the key to freedom is to avoid Fiat as much as possible. Bitcoin is all you need to live a prosperous life free from the clutches of evil banks and governments alike. As long as decentralization wins, nothing else matters. Just my opinion |
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Where some see an issue, another ones see an opportunity. Coercive, restrictive countries dispel investors and crypto enthusiasts in general (customers, developers, entrepreneurs...), while smaller countries looking for foreign income adopt a friendly stance towards bitcoin and crypto, consequently bringing new people and more money to their territories. So far it's not scaring news, because we are talking only about one country (USA). Bitcoin can't be defeated by a single nation and can't be defeat while there are still people and countries supporting its usage.
Maybe CBDCs are going to be a big issue for some of us, as some governments are going to impose its adoption by difficulting the access to decentralized crypto and making it more expensive to deal with through taxes. However, there is still time until it happens, so there is still time to elaborate a solution for the problem. If my country did something like US is attempting to do and I had enough financial conditions, I would move myself to a bitcoin friendly country without any doubts.
As long as Bitcoin remains decentralized, governments won't be able to stop it. I wouldn't say Bitcoin is losing its purpose, simply because people are free to do what they want with it. Those who care about decentralization would use alternatives that are KYC-free and non-custodial (without middlemen). It's normal to see centralization taking over the industry especially when popularity is increasing at a fast pace. Governments will successfully regulate anything that's centralized, but again, they won't have any success doing so on something as decentralized as Bitcoin. Who knows how Bitcoin will be put to the test with CBDCs in play? Just my thoughts |
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It has become a trend among most of the countries to have their own CBDC. If we take the usage data of cryptocurrency or fiat over specific time period. Then the usage of fiat stands high against the cryptocurrency. This is the reality, but in the name of making themselves adoptive to the global market countries intend to have a common. So, analyse and understand the need before going for the development of CBDC for the country.
Governments don't want to lose a piece of the pie, so they're rushing themselves to launch their own CBDCs in order to reduce crypto's influence worldwide. I'm afraid they will be successful at the task as most people use Fiat as a medium of exchange. With CBDCs, governments and central banks will become much more powerful than they were before. Full-scale surveillance on a digital monetary system controlled by the government will mean the end of an era for privacy. Decentralized cryptocurrencies will still exist, but not many people will use them. I believe China did what it did (full crypto ban) in order to force the use of its digital Yuan. If other countries start doing the same, then everything we've achieved in crypto/Blockchain land will go downhill in an instant. There are a lot of things that need to happen before CBDCs take over the world, so we should enjoy crypto while it lasts. Just my opinion |
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there is no wrong-flowering platform, and avoid virtual risks, because basically crime is everywhere,
it would be nice if you put your money in a local bank for locking, because even though banks often make losses but there is a guarantee of safe funds when there is a bank robbery etc., in contrast to crypto when the exchange is hacked, it is unlikely that the funds will return. like MK4 said, we must be good at controlling the risks that exist and we will face
That's because funds stored banks across some (if not all) countries are insured. The same cannot be said about crypto exchanges. There must be some kind of law that would hold centralized exchanges accountable for the loss of funds due to hacks, theft, and other undesired situations. Otherwise, who's going to respond when you lose all of your hard-earned money on a crypto exchange? As long as there's no protection in place, most traders will be reluctant to leave vast amounts of crypto in an exchange. Crypto/Blockchain tech is becoming more popular each day so there's hope regulations will tighten in order to legitimize the industry as much as possible. Who knows if the level of criminal threats on the crypto space is reduced by a minimum sometime in the future? Just my thoughts |
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Just because the APY is lower, doesn't mean that it is not profitable, nor does it mean it shouldn't be invested. Main reason why the APY is lower is the fact that there are a lot more people investing into it. If you are using stablecoins then the low APY is understandable and you should focus on something else, but if the APY is based on some good token or coin, like for example Cake or BNB ones? Then you could still keep it because it could go up as well.
I personally still hold all my BNB and Cake staking because in the end we are going to end up earning from the staking rewards, but also from the increase in price. I do not trust other networks for the price reason, even though staking rewards could be higher.
Believe me, coins with a low APY have a lower investment risk than those who not. Especially those that aren't dubbed as "stablecoins". With low interest rates, prices will become relatively stable than all the other way around. If we were to compare between staking and saving money at a bank, we'll notice that staking is much more beneficial to our pockets. That's because the returns are higher with staking crypto than just saving money at a bank. Decentralized Finance ("De-Fi") is already making strides in the mainstream world, so I wouldn't be surprised if banks adopt the revolution in order to stay ahead of the game. While banks won't go anywhere soon, "De-Fi" will certainly make an impact in the Fintech space. Expect staking to become more popular as crypto takes the world by storm. Just my thoughts |
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It is obvious that this is because Elon bought twitter, as we know Elon has an interest in both bitcoin and dogecoin, so people are speculating that Elon is going to allow dogecoin to be used directly on the platform, if true then without a doubt it will bring a massive boost to dogecoin, however you need to be careful as this is not confirmed yet and if Elon were to deny this possibility then it is obvious the price of dogecoin will crash overnight.
If Elon Musk starts integrating DOGE into Twitter, the cryptocurrency's price will skyrocket at a very fast pace. How sustainable prices will be will greatly depend on mainstream demand. Maybe DOGE will reach $1 within a brief period of time? What matters is not the price per coin but rather its usefulness. I wouldn't say it's convenient to invest into Dogecoin for the long-term because of the way it was designed. Development progress is practically abandoned, while the coin's supply is infinitely expanding. With these downsides, Dogecoin only serves as digital cash than a solid investment like Bitcoin or Ethereum. Elon Musk is known to bring a lot of mainstream attention, so the Twitter buyout was expected to have a positive effect over DOGE's price. As long as Dogecoin's decentralization is not affected, nothing else matters. Just my opinion |
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It will actually be more of a hindrance to the long term success of cryptocurrency if Russia started using it more in an attempt to bypass sanctions or earn new sources of revenue. It would slowly bring the attention of more politicians if they discovered it was supplying a source of revenue, or way for them to move around money outside of the traditional banking system which has them pretty cut off. Once those sirens start going it might very quickly lead to bans on wider usage, along with the guise of energy preservation, which would be extremely damaging for any current holders of cryptocurrency. Let's hope Putin continues to discourage it's use and mining.
Yes. Russia embracing crypto just to avoid economic sanctions, will give a bad picture of the whole industry. This will force countries to take drastic measures against crypto/Blockchain tech in order to minimize its growth worldwide. I'd prefer Russia to steer clear from crypto in order to prevent other countries from declaring it "illegal" for mainstream use. Of course, crypto will still survive because of its decentralized and censorship-resistant design. But it wouldn't be as widely used as before since people will be afraid of getting into it in order to avoid being prosecuted by the government. No one knows what's in Putin's mind right now so we can only hope for the best. Just my thoughts |
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I will laugh even harder for the amount of money you put into staking and expect something bigger than that in return.
-Put that money in the bank and see the huge difference.
-Put $100k into staking to stable coins and see the huge difference.
-Put that money into a project that has high risk high return and see the difference.
Otherwise If you don't enjoy the return, then go ahead and buy Bitcoin and hold it. That's another option in earning more than that $95 in a year. However, that depends If the market becomes bullish again next year.
Staking is actually good if you know how to play your cards right. The crypto market is extremely volatile so you could risk losing it all in an instant if you make a small mistake. Banks are a much safer bet but the returns are very low. What to do with your money is entirely up to you. While staking does come with its benefits, I believe you'll achieve greater returns buying and "hodling" Bitcoin in the long term. After all, Bitcoin's the best-performing asset of all time. As long as you don't invest more than what you can't afford to lose, you'll have nothing to worry about. Just my opinion |
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Only decentralized stable coins have a chance of survival, centralized stable coins can easily be killed by governments at any moment and they know it, and the reason for this is simple, the coins are centralized.
Governments are experts at fighting centralized enemies as they can easily concentrate their resources and use any legal and illegal means to force a centralized institution to comply, but the same is not true for a decentralized entity, so if at some point governments decide they want to get rid of centralized stable coins they can do so with ease.
Exactly. Centralized stablecoins are doomed to failure as governments will do their best to help promote the use of CBDCs. There will be no major differences between the two (stablecoins vs CBDCs) except that one will be backed by companies while the other will be backed by the government. People will prefer the latter option (a CBDC) because it's much more legitimate than the former. We don't need to worry if CBDCs will take over the world since it was expected banks and governments would do everything in their power to avoid losing control over the economy. As long as decentralized cryptocurrencies exist, people will be able to enjoy true financial freedom. Who knows if CBDCs live alongside crypto for generations? Just my thoughts |
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For now Russia still have lots of options even with these so called harshest sanctions from the west. They can utilize cryptocurrencies and economic giants like China, India and Brazil. I even believe that many of these western countries are just trying to show the world and the public that they are doing their best to destroy Russia's economy. Germany for example, wanted to block oil sanctions. North Korea, Iran and Turkey utilizing cryptocurrencies are also common and it won't be surprising if Russia is secretly doing massive transactions already.
Cryptocurrencies are decentralized, so it's easy enough to "evade" sanctions by conducting crypto-to-crypto payments from one country to another. The real challenge would be converting crypto to Fiat, as all on/off ramps will be shut down for good because of the sanctions. Only in-person trades or P2P platforms will allow Russia to exchange crypto for Ruble and vice versa. Because of crypto's decentralized nature, some countries are beginning to tighten regulations in order to prevent Russia from evading sanctions as much as possible (even though they won't succeed in the long run). What can truly stop crypto is if the whole Internet is shut down for good. But that is almost impossible to achieve. No one knows what's in Putin's mind right now, so we can only hope for the best. Just my thoughts |
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I think it is too hurry to conclude this. Russia is just trying to fix its economic crisis during the war. China and Russia are only 2 countries, while USA has many countries as their partners. There is no way to worry about the possibility of Russia to build a word order, they will be difficult to do it. What I know is that USA has the plan for a new world oreder.
I don't think Russia will build a "New World Order" with China simply because there are other powerful countries that won't allow it to happen. Russia and China alone can't beat the US or EU countries (even though they're classified as superpowers). What they can only do is minimize the US Dollar's influence worldwide by steering away from it as much as possible. Forcing people to conduct business in their native currency instead of the USD is the first step in this. Right now the US is still the dominating force in the world, so I don't think it will lose its supremacy anytime soon. For what I know, sanctions have completely destroyed the Russian economy with no point of recovery. Not even China can fix the situation. As long as Russia is in a tight situation, its ambitions to conquer the world with its allies will be futile. I'm fine with that as long as democracy wins in the long run. Just my opinion |
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I don't really see any difference between a digital currency issued by the governments and fiat. There are two big problems with fiat. 1. It's centralized and the governments have full control over people money. 2. It can be printed.
A digital currency issued by a government still have both problems. I am sure they will design the so called digital currency in a way so they can increase the total supply whenever they want.
Not only that but CBDCs enable governments to have a full scope of your daily financial activities. They'll be a great tool for massive surveillance, putting an end to the era of privacy for good. Everything else will be most likely the same way as it is with Fiat right now. The benefits are numerous from eliminating the need to print new bills (paper money) to easily increasing the supply, and more. CBDCs will certainly be a better option than existing stablecoins simply because they'll have the backing of mainstream governments. But CBDCs will never "beat" decentralized cryptocurrencies simply because these are too big to fail. As long as decentralization wins in the long run, nothing else matters. Just my thoughts |
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I have most of mine on an exchange because I'm getting paid interest. Has there ever been a time when an exchange like Binance for example, steals your funds or gets hacked and people lost money?
Yes. Basically any exchange is prone to hacks, theft, and in some cases, fraud. You'd be better off leaving your crypto on "De-Fi" platforms than a centralized exchange just because the risk of loss is simply too high to bear. I don't care if a centralized exchange gives you high interest rates if at the end I'm sacrificing my privacy/anonymity and control over my own money. Decentralization exploits crypto's fullest potential, so it's best to seek alternatives that would put you first above all else. Most people are not that knowledgeable about crypto/Blockchain tech, so they will use what's most convenient for them. What to do with your money is entirely your decision. As long as you don't invest more than what you can't afford to lose, you'll have nothing to worry about. Just my opinion |
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We all can see that today Doge Is up more than any other top in he top 100. What cause this massive pump. Did you have some nice gains? Anyway for me I think to join Doge is only 0.16$ (all time high was 0.73$) And it's backup by Elon Musk. Today is 4/25/2022 Dogecoin marketcap up by 22%
I don't get why investors are pumping Dogecoin's price just because Elon Musk bought Twitter. It's something stupid since it greatly defeats the purpose of crypto/Blockchain tech. Putting the focus on a single person makes DOGE nothing more than a centralized coin. I wouldn't be surprised if DOGE goes to $1 for a brief period if the hype persists. One thing for sure is that Dogecoin is and will always be a speculative cryptocurrency with no real use cases in the mainstream world. As I've said many times before, there are far better cryptocurrencies on the market that are actually useful for day-to-day use. Bitcoin and Ethereum are good examples of solid cryptocurrencies that will retain their price for years to come. Who knows what will be of DOGE once Elon Musk abandons it for the next big thing in crypto? Just my thoughts |
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There is one reason why the majority of the exchanges are now asking for our personal details due to the widespread scamming, a concern of many. They are apparently helping us users and their protection as well against these people. Whether we like it or not, the time may come that even DEX exchanges will adopt the system of collecting KYC.
We can't hesitate these changes as this gonna happen if these scamming issues will not stop. And that was the time the government will give 100% support to cryptocurrencies.
If DEXs start enforcing KYC, then they wouldn't be decentralized anymore. That's because they're introducing the middleman into the system (something that crypto was meant to avoid in the first place). You don't need to provide personally-identifiable to use Bitcoin or any other cryptocurrency, so why should any decentralized exchange do the same? Centralized exchanges require KYC simply because they have a moral obligation to do so. Going against what was established by the government would mean shutting down their business for good. While centralization is a dominating force in crypto land, there are still decentralized alternatives out there anyone can use without restrictions. As long as this is the case, there should be nothing to worry about. Just my thoughts |
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I'm skeptical with the inflation numbers. With my naked eye prices for the everyday things I buy have gone up significantly higher. Will be interesting to see what the fed does next month when they meet. Expecting a 50 point raise in the interest rates to help combat inflation. Gonna kill mortgage rates, and stymy housing price rises. Feeling very 2007-08. Not that we have scammy lending practices but house prices can be upside down and foreclosure surging could happen just like it did. Watching all this closely to see how it pans out. Either way looks like we are gonna see some hard years ahead.
Inflation in the US is growing at alarming rates. We can blame the politicians for letting this happen. If only salaries went up, things would've been different. But rising prices without any increase in your pay, will only make you poorer in the long term. There's only one solution to this and that is Bitcoin. I'd suggest anyone to invest some money into Bitcoin over time in order to reduce the negative effects of inflation. Bitcoin should've been worth a lot more in terms of Fiat (USD), but for some reason it isn't. Good things only comes to those who wait so I'm in no hurry of seeing higher prices on Bitcoin anytime soon. Just my opinion |
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On the note of China, they are in fact conducting bilateral transactions with Russia without using USD outputs. So on top of the Russian currency reserves being emptied, China is willing to do business with Russia on their own terms.
Interesting side note, Israel is a major U.S. ally, and for the first time, they've adopted Yuan into their own currency reserves dropping their share of USD. It isn't just Russia that is diversifying their assets.
It's going to be a problem if the CCP's currency becomes the global standard.
China's Yuan becoming the global standard will be a total nightmare for sure. If that happens, communism/socialism will win. I'm pretty sure the US won't let that happen or that will mean the end of democracy for good. Russia may be falling, but it still has China (and some allies) by its side. That may not be enough to help rise its economy from the ground up, but if the US and its allies continue to show weakness, then the tables will turn faster than you can imagine. On the issue of approving BTC, I don't think Russia will take such measures since that will mean going against China. The Russian government will still use BTC in secret, but it won't be approved for use by the people. It really doesn't matter which country approves or disapproves of Bitcoin since regulations can't really be enforced. That's the beauty of decentralization. Who knows what the future holds for Bitcoin as it becomes too big to fail? Just my thoughts |
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Crypto wouldn't be as popular if exchanges like Binance, Kucoin, Coinbase wasn't here. Decentralized exchanges are cool but we already have seen that the tech isn't advanced enough to replace the human factor. There are still some problems which only a human can solve. Decentralized systems are not perfect, they can get broken in time. Customers are not perfect neither. That's why centralized exchanges attract more customers. People just want to know somebody behind their screen there is a human ready to listen to their problems.
You do have a point there, mate. Centralized exchanges are the ones who drive the most adoption into crypto/Blockchain tech. They're the first thing people come into when starting their journey in crypto land. Without them, I fail to see how crypto will be massively adopted by (almost) everyone worldwide. Decentralized exchanges will still be around, but their limitations will simply drive people away from crypto. There is a hybrid exchange called "Waves Exchange" with high-performance order matching/execution, but I'm not sure if it will handle millions of TPS when it reaches widespread adoption worldwide. I'm fine with governments "regulating" crypto/Blockchain tech as long as they don't ban it altogether. Who knows what the future holds for the entire crypto/Blockchain industry? Just my opinion |
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From what the op mentioned, I agree and if I may add, the income level of each country is different, not to mention there are many poor countries.
decentralized nature of bitcoin, difficult to control by government so they don't legalize it and therefore Bitcoin is not accepted worldwide
Exactly. Low level income is one of the main reasons why Bitcoin still hasn't been adopted massively by people worldwide. If you are poor, then how would you get access to Bitcoin in the first place? Third-world countries (with the exception of El Salvador) are stuck with Fiat because of limited access to the Internet and electronic devices. As long as Bitcoin remains an Internet currency, we won't be going nowhere in terms of mainstream adoption. Who knows if this no longer becomes an issue some point in the future? Just my thoughts |
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