I don't have the time to read a whole book though I might reconsider just for this book since this is for free. I agree that Bitcoin has a good chance to be the next world reserve currency though getting there will never be an easy task as it should be accepted by governments and merchants just like how the USA Dollar got into the game. China is planning to overtake the dollar and dominate the global economy and this can be the reason why its government is never fond of Bitcoin and cryptocurrency in general. Hey, China is a control freak and anything they can't control is something they don't want nor will accept. Of course, we also have Russia and India, just two big countries that are not so willing to give a free entrance to Bitcoin. So the next question for me is: Can we have a global reserve currency that is spurned by influential countries like China, Russia and even India?
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I made the baddest decision with Bitcoin in June of last year when I was persuaded to convert my BTC to BTCV which turned out to be a very unfortunate thing for me because months after that the project got accused of operating a ponzi schemes with its mining plans. I still have not forgiven myself with such a big blunder up to now. Even with some years of experience in cryptocurrency, I became so naive and stupid!
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There is no question that Bitcoin is really known for volatility, and we know that it can go up and down for no reason at all, except that some group of traders may have acted in unison creating a big demand for Bitcoin in exchanges. We have to note that the majority of Bitcoin are not actually moving and that means that only a small percentage are in exchanges but this is where the biggest influence of the price can be found. And this is quite true with many other coins and tokens we have. Now, can we then say that Bitcoin can easily be manipulated? Well, can be.
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Sadly, a lost Bitcoin can be impossible to recover and so far I see no technology that can unlock the keys for this problem. Like if you lost the private key the only way to get back your Bitcoin is to get back the private keys, nothing more nothing less. That's why it can be sad if one has been phised to share the private key and someone can be able to steal the Bitcoin in your wallet. We know that there had been many stories of lost Bitcoin and when Bitcoin started to climb the ladder they realized how much they lost. And there is nothing we can do about it except maybe mourn a little and then move on -- just like experiencing a fire burning away our properties.
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I am not afraid of government intervention, that is if we have to based on the actions of the USA government. Well, it can be different if we are to factor in China, Russia and even India (three biggest markets not officially open for Bitcoin). The government will always regulate and make things strict and this is quite expected, like there is only a few industries in the USA that is not strictly regulated, so we should be used to that. The most important thing is that the government is not officially banning the whole thing as that can be a very different story. So what about quantum computing -- can that technology be able to make Bitcoin crushed to the ground? In my view, the only threat I can see is that the market is getting tired of Bitcoin and will instead choose another cryptocurrency that is much better and has no weak points that Bitcoin got and has become more popular than Bitcoin. Will that happen? Nobody knows, and I am hoping it will not since I am also a big fan of Bitcoin as a store of value (meaning I got BTC too and I will be crying if it becomes worthless).
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This is quite true based on our point of view as individual investors or small buyers of cryptocurrency but may not be holding true with big institutional investors who are actually used to smaller ROI. Getting a 10% return per year is actually not so bad if you are a fund manager and here in Bitcoin they can make more, that is assuming that Bitcoin will never go back to its "winter" history. I am sure that we are all afraid that after the bull run there can be a big dump that can erase all the gains we are seeing so far. And with Bitcoin, nobody can really guarantee it will never happen. We have to hope for the best while at the back of our mind to be prepared for the worst.
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One thing that I am sure with Bitcoin is that in the future it is either it is so much valuable of a digital asset or it has nothing at all. Let's hope that Bitcoin will continue to be the prime choice for a cryptocurrency and not trampled by something much better. In case, the world will continue to like Bitcoin and investors are shouting their trust and confidence into it then there is no question that one day it can even go beyond the million-dollar mark. Now, in the scenario where the USA economy is decimated and already overtaken by another country (or a group of nations) where regulations are making it a restricted asset then maybe it might not blossom as we wish it should be. anyway, the point is that nobody can really predict the future of Bitcoin and make it happen.
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The Bitcoin Lightning Network has not yet been implemented, although the Bitcoin Lightning Network has great features, but there are some restrictions that developers must work to improve such as: - The recipient must be connected to the network to complete the payment process - Network participants need to regularly monitor payment channels to maintain their balances - Not recommended for large batches - Opening and closing the payment channel requires a chain transaction that is done manually and requires high transaction fees These are the most important flaws of the Bitcoin Lightning Network and may be delaying the network's spread.
These are very tight restrictions! It makes LN not very convenient to use on Bitcoin transaction. Hope there restrictions can be overcome soon. I had been wondering the same thing why LN is not getting the support of many and why it failed to get the popularity it must have. So these are the limitations that developers have to contend with before we can expect LN to be utilized widespread by Bitcoin supporters and enthusiasts. Hope that something can be coming out with this area soon.
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That is your own choice to make. Certainly, I am sure that Bitcoin will be rising in the future and who knows it can even go as high as $1 million after, let's say, 10 years from now. We know it is scarce, but we also know that Bitcoin is not actually perfect which means that if there will another crypto that can caught the fancy of the people then it is also possible that Bitcoin can be set aside. The thing is that nobody know what can be and even those who are predicting for Bitcoin are doing it based on their own personal conviction and speculation. At the end of the day, it can be just another gamble which we hope will be paying a lot later.
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What is new? These days it can be so easy to create viral fake news. Well, had it not been given enough life of its own I am sure that fake news will just die a natural die without seeing the light of day but since some people may have picked it up then it got the attention of many more people. How can you order Bitcoin in that volume when there can be no such availability? Anyway, this can be a good source of entertainment which can be adding to Bitcoin's buzz.
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Yes, they can produce something that is identical to gold and this might have many industrial uses actually but one thing for sure nothing can ever replace the original. I think we already have laboratory-produced meat but I am sure that it will never replace the original meat. And we already have something that is almost identical to diamond but in terms of value and price we know the truth. In China, they produce knock-offs which looks really identical to the original item, but we know that nothing will ever replace the original. That is the truth. This is also the reason why Bitcoin and gold should be viewed as different assets and not a version of the other.
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I am always sad whenever I am hearing a cryptocurrency exchange having a problem in its withdrawal process and yet the support not able to do anything substantial and speedy to solve the problem. We are all, of course, suspecting that something is really bad behind the move but I am still hoping that Sistemkoin has just having technical difficulties. I once deal with this exchange when I got some tokens from a bounty and this was the only exchange carrying it but at that time I got no problem in my withdrawal.
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Amazon is a shrewd business organization, and they will never get into anything without first making sure that they are gaining more than losing money. I am sure that they studied this possibility of adding Bitcoin as a mode of payment but decided that this is not yet the right time. Or maybe they are not seeing a big demand yet. They must have seen many online and offline retailers adopting Bitcoin yet not having significant and sustainable volume of business from people holding cryptocurrency. With the way things are currently holding, Amazon does not need Bitcoin, and we in this industry are putting it that it is Bitcoin that needs Amazon.
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Is there any UK business broadband that I can buy with bitcoin, similar to plusnet or bt etc.
its a long story to why I need it to be bitcoin and specifically bitcoin, but if you know of any providers please let me know.
In case you can't find that fits your bill, why not just convert your Bitcoin to fiat and use the money to pay for the service? Or maybe you really have a good story to tell that is why you prefer to pay in Bitcoin. Can you share to us why this is so? Had I been on your shoe, I would prefer to hold on to my Bitcoin as there is a big possibility of a bigger pump maybe by next year. Just my non-expert opinion.
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greyscale own: blockstream (the bitcoin dev group) they also own all of these bitcoin exchanges and digital currency services https://dcg.co/portfolio/its more then likely 50% of all bitcoin in the last 4 years that have entered an exchange have touched the hands of greyscale Well, no wonder why Greyscale is a big influencer in the world of Bitcoin and cryptocurrency. And I guess they are here for the long haul, celebrating the taste of success as BTC is right now on the rampage.
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PayPal got the name and despite its sometimes reputation to be restrictive it still has millions of loyal users not just in the USA but all over the world. Hence, there is a big market just waiting for it to tap fully anytime it wants to. Soon, PayPal can be a big player in the cryptocurrency market, rivaling many big known exchanges already leading the industry.
Will there be a PayPal Coin soon just like BNB?
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Well, we have to understand that for every problem there will be opportunities attached to it. In this pandemic the whole world is into, this can be a big opportunity for many business entities to make money because of the heightened demands of many things, actually not just the vaccines. With the pandemic, things are turning upside down. Of course, there are losers but there are also winners. That can be obvious right now. By next year, the recovery phase will start and which economy can be leading the pack that is something to look forward to. As of now, it is China that is the big winner and many other nations still trying their best to get up.
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Coming from Citibank which is a prestigious banking institution on a global scale, this is something not so easy to just dismiss. One thing we can learn here is that financial institutions are now embarking on a journey that can take them to new heights with cryptocurrency. However, we know that banks are here for the money, nothing more nothing less. They must have realized that there is a big money to be made with Bitcoin and they are now starting to make a big stake. Can we then expect more big banks to get more friendly and open to Bitcoin? Yes, of course.
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This is a big good news but this is not really that new because many of these countries already have trade pacts as members of the ASEAN cohesion. Unlike what EU is doing right now, unity of these Asian markets is more of a voluntary kind of thing and there is no body imposing laws and regulations. The most important thing is the free flows of goods and services at a higher level never seen before. With China pushing its big influence in this region, this is something to look forward to.
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So good to see amazing deals available in the Bitcoin Black Friday. As long as this is legitimate and the offers are for real then this can be one of the best ways we can promote Bitcoin and make it as a medium of exchange (buy and sell goods/services) and not just an investment tool to hold and hide. Putting more incentives so that people will be using their Bitcoin (and even any other cryptocurrency for that matter) can be good for business in general.
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