|
I think that in the past few years or so, people have deviated from the intended use of bitcoin and what truly it stands for and why it was originally created, and i think that a large portion of the user base only view it as an investment and way to make money and to profit from, and they really don't care about the fact that it changes a lot of systems that have gotten more and more corrupt over the years, and it really gives the power back to the people, and that is the idea that people should really take in consideration when investing in bitcoin in order for it to succeed.
|
|
|
|
|
I don't think that bitcoin will ever reach the point where it is used as a global currency, as a way to for microtrasaction and on the day to day bases bitcoin has a lot of problems, considering high fees and long transaction time, it is true that bitcoin has and is facing a lot of hardship and still it is the best investment out there but only as an investment and for it to reach the point of becoming a widely used currency a lot needs to be chnaged about it.
|
|
|
|
|
In my opinion all of this is just a big market manipulation, the idea behiend the co2 emmisions that the bitcoin or any cryptomining is causing is practicaly insignificant to what the real cause of the problem is, i can think of a million other products that are casuing more harm to the enviorment than mining bitcoin, and besieds the big scale copartions that are mining crypto do it on a large scale where they use either solar wind or geothermal energy so that can make more profit in the long term.
|
|
|
|
|
In my opinion, i think that the blockchain network is what is actually comparable to the early internet, bitcoin and cryptocurrency are just the early application of this network, but the possibility and the chances that this new technology offers is beyond we can imagine, the blockchain system can replace every way we interact with each other, and starting with things like smart contracts and payments and govermment documments, and this is already taking place.
|
|
|
|
The whale manipulates its value and is so easily manipulated. Is this decentralization?
You have to take in consideration the fact that bitcoin and cryptocurrency are a multi billion dollar industry, bitcoin is on its way of becoming the first in terms of investments, and for this type of market to be manipulated it is not an easy thing to do, poeple have been always been talking about the fact that bitcoin is not truely decnetrelized due to the fcat that china holds a large portion of the mining power there, thereore the chinese could easily manipulate the prcie, but with china out of the way and the governement slowly taking sever actions against bitcoin mining, that idea is going to be out of the way and bitcoin could be truly decentrelized. |
|
|
|
|
BTC or not, people have been always greedy since its in our nature, i think that in our current time people are highly connected, so people seeing others how they are living in luxury and have a lot of money and they just want to live like them so they try in any way to get to that state, and i think bitcoin has made it easier for us to do so, at least not until recently, because you see how the price changes by a couple of thousands in a matter of hours, and making millions from such a change is possible, so that is probably why people have gotten more greedy with bitcoin.
|
|
|
|
I don't understand what "whitening black money" means, OP. True, I don't watch the news all that much, but I don't think I would have heard about this at any rate. Can you explain? Also, when starting a thread like this a link would be useful for readers who either don't understand what's being discussed (like me) or would like to verify the facts for themselves.
None of the replies so far give a clue as to what "black money" is.
Black money is basically money earned legally or illegally, but not declared to the government agencies, so whitening probably means paying the taxes i assume, if you are earning money from crypto i don't think that the government will have any way of tracking that, and paying 25% is a really high rate, so the people that didn't pay the taxes don't think that will do it now, this is a very stupid move by the government, they should be reducing it to encourage paying taxes. |
|
|
|
|
To be honest china banning the mining probably a good thing for the network overall, because a lot of people had some real concern about how decentralized it is if china holds a lot of the mining power there, and with them shutting down right now it might bring a lot of people who have that idea, as for the Chinese government they are probably afraid of how big bitcoin is getting and how they can't control it and control the transactions since they are anonymous and the people can have a bit of freedom with it.
|
|
|
|
|
Given the current market and how volatile it is, you can really make profit on both ends, day trading allows you for a high risk high reward way of trading, but you need to be an experienced trader and know what to do since this a volatile market it is highly unpredictable and can change at any point, holding is always a safe way to make profit, especially with coins like bitcoin and eth which are known to be good to hold for the future, but with other coins it really depends on how ling you are holding them.
|
|
|
|
|
This is all true, but the ideas that we are taught in our early lives are completely different or at least some what change as we get older, so the poor when he sees the rich having a better life than he is, he changes his mindset that you are talking about and opt to change his situation in one way or another, and rich people also could have a totally different mindset when they grow up, and also it is true that it could be based on the economic state of the country but we live in a connected world, which lets us want to improve by seeing other which totally changes the mindset that we have and our prospective.
|
|
|
|
|
Governments can set up their laws and ban crypto, and that might be a way to hold the progress of it for a while and may prevent crypto business from doing their activities in that specific country, but in no way shape or from they could prevent the people from using it, because crypto is decentralized and they have no control over the transactions that go on, and since its anonymous they can't totally ban it, and the more they are against it the more it shows how that government is corrupt because if they trust in their financial system they would have nothing to fear, and they wouldn't ban it.
|
|
|
|
|
I feel like passive income is not quite as profitable as people think it is, why would you risk you cap trying to invest into multiple things just for a small return, where you could just invest it in some other way that is not highly active but will give your a better return, generally passive income like cloud mining and staking seems to be a risky business.
|
|
|
|
|
The countries that ban crypto are doing not because they think its bad in a legit way, they just ban it because it gives freedom to the people, and they cannot control it as they have no authority over who sends or how much he sends, and i am pretty sure that just want to hold control over the people so they don't lake the change, because bitcoin is not just about the money its about a concept of fighting the corruption that has been going on for decades and that is why they ban it.
|
|
|
|
|
I honestly hope that Elon Musk changes his view about the whole bitcoin mining and the environmental causes, because after seeing what his statements affected the last price jump made it clear to everyone how much influence he has and how important his statements are, i mean even a joke on doge coin from him made its price go like crazy, love it or hate it Elon is the biggest supporter that bitcoin and crypto in general need in order to push into the next stage
|
|
|
|
|
The majority of people who own bitcoin are in it for the profit and the investment, and no one actually will tell you that they own bitcoin because they hope for a better financial system that is decentralized and not controlled by governments, and to me that is a huge concern because if people just use it for profit and they buy and sell based on the price if bitcoin takes a hit and falls in price people will start selling and it will affect it in a bad way, i am not gonna lie that i am not also in it for the money, but i try to use bitcoin whenever i can as a payment method and not just have it sit around in my wallet.
|
|
|
|
I just want to see what the general consensus is about selling Bitcoin. The well-known Bitcoin advocate, Mr. Michael Saylor, has said that you should never sell your Bitcoin, you should hold it for a lifetime. He believes that when you sell bitcoin, you will be taxed, but if you hold it, you can borrow bitcoin at a good interest rate (tax-free). Platforms such as Block Fi provide such services.
What do you think of this problem? If I double my investment during the next bull market, then for liquidity purposes, I will most likely not sell a bit. I really like Bitcoin and its direction of development, so regardless of short-term price fluctuations, I plan to invest in the long-term.
What is the point of having it then, if you don't use bitcoin as a payment method or you don't use as investment and just let it sit there for a very long time with no purpose you will just be wasting your money, it is good to always think about the future but the future is unknown so you should try and enjoy the present and have fund while you can because you want be able to live for ever, and bitcoin and crypto are anonymous so you won't be taxed if they don't know they you have it. |
|
|
|
|
I have always thought about this, and it really shaped the way i deal with bitcoin and crypto in general, i thought about holding them for a long term, but then life is too short and i rather enjoy it while i can rather than to think way ahead in the future, i mean i don't spend all of my coins but i try to use whenever i can to get something nice or go on a vacation. and i don't stress out a lot on the prices way in the future.
|
|
|
|
The major factors affecting bitcoin are :
Change in government - it's simply means when another government enter there's will be reduction or addition of some policies.
Political instability - when political system in the country is not stable, everything will get down.
I think that the factors that you mentioned affect all kind of businesses in general and not specifically to bitcoin or cryptocurrency businesses, in my opinion the legality of cryptocurrency is probably one of the most that affect these type of businesses, just like what is happening with a lot of places where they suddenly banned bitcoin, and the second factor probably is the volatility and the constantly changing price, because you have the person buying an item for 10 dollars and the next day the owner has 5. |
|
|
|
|
A lot of countries don't have a real strategy towards dealing with cryptocurrency in general, either they make it ilegal because they don't have the resources to track or deal with the transactions which is what many countries are doing currently, or they accept it and let the people do what they want with it and use it as a p2p payment system, i really don't think that any major countries will adopt it as a supported payment system at least not publicly, but in small countries where the local currency and the economic system is having some problems maybe bitcoin would be a very good option to consider as a replacement.
|
|
|
|
|
For me buying anything on the internet is either difficult or requires a lot of setting up to do, so i always found that bitcoin is the easiest and the fastest way to pay for any online shopping, and i think that with bitcoin these days this has become more of a problem, for a person who is trying to buy something for 10 dollars he should be able to do so with ease and not have to pay half of that in fees or wait hours upon hours to do so, and i probably think that is the main reason that people don't use bitcoin for microtransactions anymore at least in my case.
|
|
|
|
|
Show Posts
