In my opinion the bill won't be passed, but if they do they condemn themselves to doom and by this I mean they cut themselves from the possiblity of significant capital appreciation and enrichment of the population. The government there might not want people to actually "own" their money. If the bill gets passed and I'd live there, I'd certainly organise a nation-wide protest. Bitcoin is a good store-of-value, why take the right from your citizen to trade it?
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My suggestion is to analyse first in what kind you want your profits to be in. If BTC is your currency of choice trade the xyz/BTC pair, else trade the USDT pair. I don't see any reason to analyse both of them. I think it would be useful to analyse the BTC dominance chart, though.
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I doubt that any of the retail exchanges will introduce phone support for general users. Most probably they will offer this kind of service only for users with certain trading volume. I mean when you have 100ks or millions of users you would need an army of customer support agents which need to be trained and all that.
However this could be a serious competitive advantage. If I were the CEO I'd certainly introduce the service for VIP users.
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We can't use bitcoin for mass adoption when there's no 3rd party application, simply because transaction fee is high and confirmation takes too long.
What we need is instant confirmation as people buying products does not want to waste their time waiting. Why people are adopting in bitcoin or crypto for massive adoption is not because of its technology that is decentralized, because they are looking for a more convenient way and cheaper way of payment, and that is not present yet on crypto.
Businesses can implement Lightning Network. This way transactions are made in an instant and the fees are insignificant. If you ask me it is quite convenient to pay in fiat as it is. I mean you just need to approach your card or your phone to the PoS and you're done. That's as straight-forward as it can get if you ask me. The only thing that annoys me is that we need to trust a third-party entity to hold our money and facilitate payments. So for me, decentralization is the main selling point of Bitcoin in terms of making day-to-day payments.
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I disagree with you here. Investing in meme stocks is a gamble and it is all about luck and the risks are huge. You want crazy gains? - go invest in penny stocks, but don't cry to your mama if you lose your money. Bitcoin on the other hand is a fundamental, macro play. If you look at the current intrinsic value of GameStop you'll see that is way overvalued. I would never put my money into something like this unless I want to donate my money to other people lol There are other, yet to be discovered 100x stocks ready to moon out there, don't be stuck in this sorry btc mess. Oh yeah? Go get them tiger. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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I'd say Bitcoin is "in the cards" to reach $100k this year. With all the current happenings in the economic-social space, people are in need for a new solution more than ever. You see what is happening with some hedge funds and retail platforms. Fiat (especially the dollar) inflates like crazy and the political space is trembling.
In a world of information we need a trustworthy proof-of-value. We should be able to hold the value of our hard-earned money and not hurry to spend it because it is losing value. Of course that inflation is a good incentive for investment, but do we really need that when we have better solutions?
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Now this is the kind of posts I want to see on this forum. Looks kinda unreal, you sure it isn't photoshopped?
I don't think I would spend my Bitcoin there if other places accept fiat. I mean it is obvious. As long as I get paid in fiat, there is no reason for me to spend BTC which appreciates in value at an average of 200%/year. Fiat on the other hand loses its value the more you keep it in your bank account.
This is the problem about Bitcoin adoption. As long as fiat exists in the current inflationary form and salaries are paid in fiat, the wise choice for people is to spend the dollars first.
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I think these outposts way in the northern area of the world should be valorified through bitcoin mining operations. Not only Siberia, but Canada, Alaska, Iceland, Scandinavian countries are all excellent places to develop the industry.
The efficiency is greater taking into account the reduced costs of cooling down the rigs. I don't know about the illumination costs, but I guess it shouldn't represent a significant cost if the LED technology is used.
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I haven't purchased no GBTC, but it is a good thing that Bitcoin funds are created. Established investors who trade & invest in various markets might not want to host BTC by themselves, instead they buyi into the fund. They also don't have to deal with shady exchanges which are not insured.
Probably we'll see an exponential growth of the Grayscale fund similar to what we've seen last year.
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To have eBay accepting cryptocurrencies as a method of payment would be awesome indeed, but yet they should handle the payment processing. I don't want to give my money to a stranger and then never receive the product. Asking for a refund is useless at that point.
In my country there is an ecommerce store like Newegg that does accept Bitcoin so I can say that the adoption is increasing.
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I'll provide some light regarding this subject. I don't see anybody who covered this point so far:
Investing is putting your money to work now to achieve a better return later. It is mostly done on fundamental analysis and not on technical analyis, though you can refine your strategy with it. - VERY IMPORTANT: When investing, you're doing it for the long-term so you avoid the risks associated with the random, sometimes chaotic short-term movements of the market.
When trading (swing trading, day-trading or scalping) you are aiming to make a profit from the volatility generated by the markets. eg. you speculate that the price will bounce from the $x level so you buy there.
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I think 2021 will be the year Bitcoin touches the $100k mark. This is my train of thought: if last year ended with a a bunch of institutions queueing to make fillings for the SEC this year shouldn't be any different. We already see MicroStrategy and Grayscale continue to stack up, while new entrants like Marathon Patent Group getting their feet wet recently with a $150M capital injection.
IMO this is really bullish action and most likely we are now just preparing for another major leap towards $100k. Next major level is $50k which acts as a psychological price point as well.
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Totally agree with @sana. FUD and FOMO are instruments that mess with your emotions. When you're handling your finances you shouldn't be emotional, but call your rationality aka your financial education. Analyse carefully what is happening in the institutional space because that's where most of the action is happening at these price points. Companies with seasoned financial analysts are more likely to know what they're doing than the average joe, it's a fact (but not always). ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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In my opinion nothing bad would happen to Bitcoin in such case - the Internet would be connected again and everything would be ok.
I am not yet at the technical level of knowledge to completely understand what would happen to the Bitcoin blockchain network if internet suddenly shuts down all over the world and then restarts the next day, week, month, etc. My best guess is that once the blockchain is restarted we could make a fork that takes the chain from the moment the last moment the network was online before the shut down and continue onwards from there. Any insights or opinions?
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I think the reasons why they lose money is either confusion or risk management issues. By confusion I mean the persons who don't set themselves a timeframe for their positions. You've got to define yourself from the get-go - are you an investor or a trader? If you are a long-term investor you shouldn't look at an intra-day timeframe, not even a daily timeframe.
On the other hand if you are a trader you need to define certain stop-loss and take profit areas. As a trader you make money from the volatility, remember that.
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Without electricity and internet the technology we use nowadays would be pretty much useless. It's quite stunning how fragile our society is. The good news is that we, as human race, are adaptable to very different environment conditions.
As a measure of last resort we can get back to the old barter system. Here's a cow for some grain, here's a car for a small house. lol But this is a doomsday scenario. In order for electricity to shut down at a global level it would require some kind of outter space event like a ionic shot or really big sun explosions.
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At this point, I don't think the government will do anything drastically about Bitcoin. Not when institutions are rallying to buy it and billionaires are supporting it. You see... politicans do not rule the world. They are merely puppets. The billionaire Chamath Palihapitiya said it: "there are about 150 people who run the world – [they’re not politicians] anybody who wants to go into politics, they’re all f**king puppets.There are 150, and they’re all men, who run the world. They control most of the important assets and the money flows – they are not the tech entrepreneurs."
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You've got to tailor your trading strategy to your personality. You see.. we are all built and wired differently so a strategy that works for somebody, doesn't mean will work for everybody. And that's not because it is more complex, but from an emotional and mindset perspective. I'm typically more profitable if I do not even look at the chart, like at all, after making my buy. Not sure that's good either. There are many successful traders that do exactly that. They place the trade, set the stop loss and take profit levels and look for the next trade or do something else like drinking a cocktail with the gf ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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My perception of Bitcoin is that it will become the world's reserve currency aka a standard of value - YES, in my opinion it will overtake Gold's market cap in a couple of years. - and it will also become the mainstream currency. Globalization is a real thing and country borders get thinner year-by-year. Why should we complicate with a bunch of currencies when we have an evolved one right in front of our eyes?
In another scenario Bitcoin could simply remain a proof-of-value while countries around the world will use a digital/crypto version of their fiat currencies.
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It's hilarious. They can't say anything bad about Bitcoin even if they wanted. Their only two lines are "it is used for illegal activities" and "the energy used for maintaining the network is bad for the environment". If we make a proper in-depth analysis we would see how big of a burden inflation brings upon people especially in under-developed countries and how many inefficiencies and human deaths are caused by it. Energy is renewable, but human lives not.
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