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If you're comparing electric cars to bitcoin, I think bitcoin and crypto currencies have much greater growth potential than electric cars. There is more demand for a store of value which offers deficit protection from the possibility of the dollar or euro defaulting, than there is for electric cars.
The main breakthrough which made electric cars viable was the invention of the lithium ion battery which Elon Musk admits doubles the range of EV's (electric vehicles) over previous generations of batteries. Before lithium ion, oil companies owned the patent to certain battery technologies and repressed them being utilized in electric vehicles.
There isn't much potential for engineering innovation in electric cars, in my opinion. The main breakthroughs will come from batteries with higher energy density (in my opinion) as we've seen with lithium ion.
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One of the US's leading crypto-currency exchanges is carrying out an insider trading investigation. Coinbase fears its own workers may have exploited its move into Bitcoin Cash - a spin-off of the original Bitcoin. The San Francisco-based firm announced the move after Bitcoin Cash's price jumped. Coinbase began letting its users buy, sell, send and receive Bitcoin Cash on Tuesday in a surprise decision but has temporarily suspended trade. The company's chief executive intervened after several market watchers posted allegations of illegal activity on social media sites. Brian Armstrong responded that he had repeatedly warned his staff not to disclose its launch plans to family or friends or to trade in the digital asset themselves.
"It appears the price of Bitcoin Cash on other exchanges increased in the hours before our announcement," he wrote on the blogging platform Medium.
"If we find evidence of any employee or contractor violating our policies - directly or indirectly - I will not hesitate to terminate the employee immediately and take appropriate legal action."Bitcoin Cash - which is no more tangible than Bitcoin itself - came into being in August after several developers became frustrated at lengthening transaction times for the original crypto-currency. Bitcoin Cash addressed this problem by tweaking the underlying technology - the blockchain - to allow bigger chunks of data to be processed at a time. Although there have been other Bitcoin splits before, this "fork" was unusual in that everyone who owned the original virtual currency was offered a matching sum of Bitcoin Cash. This effectively created money out of nothing. However, many exchanges, including Coinbase, initially refused to support the innovation, casting doubt on its prospects. Price surge Claims of insider dealing were not the only hitch that Coinbase experienced when it finally added support for the new asset. Trade of Bitcoin Cash was frozen just four minutes after it began on the firm's Global Digital Asset Exchange (Gdax) and existing orders were cancelled. The move seems to have been a reaction to an apparent price surge in Bitcoin Cash on the platform beyond its already elevated level elsewhere. When Coinbase launched Bitcoin Cash at 17:20 PST (01:20 BST) it was valued at about $3,500 (£2,612) per coin. At the time it suspended it, the company was quoting a price of about $8,500. It remains unclear whether or not this was a software glitch or if deals were really being made at this level. Coinbase has yet to give a full explanation but has said that it intends to reopen Bitcoin Cash order books later on Wednesday. Bitcoin Cash is currently the world's third biggest crypto-currency with a total market capitalisation of about $59bn, according to Coinmarketcap. That compares with there being $77bn worth of Ethereum and $282bn worth of the original Bitcoin. http://www.bbc.com/news/technology-42425857... Tried to bold key parts of the article. It appears that the price of bitcoin cash rose on exchanges aside from coinbase, before coinbase rolled out what was supposed to be a secret deployment of bitcoin cash support. This signals that people were buying bitcoin cash expecting the price to rise once coinbase support was added, which would indicate insider trading of some form occurred. Interestingly, this is one aspect of AI and bot trading which often goes neglected. AI/bots have difficulty predicting these types of events and the price changes which go with them. Also nice to see article writers criticize money that is "created out of nothing". Unfortunately, they only criticize crypto in this fashion, they never criticize credit cards, wire transfers, electronic transactions or fiat being created "out of nothing". Only bitcoin is singled out for this criticism which might be labeled a double standard. |
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It is possible that walmart and amazon define the business ideal in terms of mining solutions. Both walmart and amazon were able to reduce operating costs by eliminating middle men in their supply to distribution chain. If the same principles were applied to operating a mining business, it could constitute eliminating suppliers and proxies and taking a more DIY approach.
As far as I know, cost of electricity is everything with mining. Chinese miners could have advantages there in terms of them having state support or direct access to small hydroelectric plants with which they're able to power their miners boasting a lower watt cost per hour than equivalent coal powered installations. China's cost of labor too could be much lower than in the united states or europe.
A somewhat state supported chinese mining outfit, armed with cheaper-than-coal hydroelectric power run by employees with lower labor costs could be tough for miners in the united states or europe to compete with. Their entire mining business model may not be competitive, which could be why we see miners offering to outsource their cost, rather than reap the rewards on their own.
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Sportsbookreview @ https://www.sportsbookreview.com/forum/ is the best overall gambling forum I know of. They offer withdrawal in bitcoin and have their own internal system which uses "SBR points" a person can access by making a $100 donation to a charity. I've never used it but I have posted on there for years and everyone I've come across seems to agree its a decent deal. They also host free contests like their "beat the prick" NFL pick em contest where people who upgrade to pro status can be eligible to earn thousands in prizes. A lot of big name gambling sites which historically utilized fiat, now offer support for withdrawal in crypto. You could probably go many normal gambling sites and a decent percentage would offer support for bitcoin. Crypto support in gambling is no longer a "crypto betting sites" only thing. |
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1)Bitcoin, and all the cryptocurrencies, were made to replace the fiat money. One of it's most important features, is that it doesn't require to trust someone to make a transaction, because it will be certainly confirmed via blockchain; all right. So, there is still a problem there. To buy/sell large quantities of cryptocurrency, we're using escrows. To make a succesfull ICO, we do aswell. While on the fiat money you've a third part (the central bank) which guarantees for the value, in crypto you need an escrow: you still need to trust someone, or someone to guarantee. Let's say in the future I want to trade ETH for BTC, the transaction can't be canceled, but.. who sends it first and takes the risk, without a third part supervising the transation? I'll contend: Bitcoin and crypto currencies were not intended to replace fiat. They were created to fix flaws and weaknesses in fiat which were revealed during the worldwide 2008 economic crisis and its aftermath. Bitcoin's goal also was never to produce a 100% trustless system. It was moreso to create a system that relied less on trust than systems currently in use in an effort to boost stability, reliability, etc. 2)Let's say I'm one of those who boutgh 100btc in 2014, and that I've got some milions now, and i want to exchange them for fiat currency. How do I do it? A bank, allows me to send even bilions with a transaction. I can buy a bilion dollars paying by euros; how do I buy a bilion of dollars paying with bitcoin? Yes, you can withdraw from exchanges, buy.. 500k/month or so? I can sell them in private.. whatever is the solution, nowadays is way MORE complicated than using fiat currency. The harsh truth is: bank accounts are only insured up to $100k and many banks worldwide are reducing the lump sum to which they insure individual accounts. Someone with a million or a billion dollars, probably doesn't have their money in a bank account that is only insured up to $100k anyway. Bitcoin isn't more complicated to handle in large sums than fiat is. Also fiat in electronic transactions carries things like sales taxes and VAT which can be much higher than bitcoin transfer fees which make them less efficient and more expensive to use. |
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It is possible future trading is partially a cause of bitcoin's latest decline. I'll give you a scenario on how this might work. Imagine someone owns 2,000 bitcoin. Its guaranteed the value of bitcoin will decline if they dump their HODL.
The advent of crypto futures could allow them to profit further off their dump with leveraged short selling(short selling is betting the price of something will decline to profit off of decreases in value btw)
The way this would work in practice is, the holder of 2,000 btc would create a short order on a crypto futures exchange with maximum leverage. Then they would dump all their btc holdings causing the value of btc to decline. This would guarantee their leveraged short play would hit giving them added profits on top of whatever they gained via HODL.
It may not be a coincidence that bitcoin dropped not long after futures went into effect, although we've have to wait awhile to see whether what I'm saying is confirmed it seems too obvious a method of exploiting the system for someone to not take advantage of it.
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Hey guys,
i have a Domain called x-bitcoin.de.
For 2 Years i it was a BTC Faucet and i never closed the Domain.
My question is what is the value of this domain if i wanna sell it?
Domain expire 10.04.2018
Sorry for my bad English.
There's a website called http://namecheap.com which accepts bitcoin as payment for domain names. They specialize in alternate domain name postfixes like domain.life, domain.club, domain.site and so on. And they have very low prices. Here are search results for domain names similar to the one you registered. https://www.namecheap.com/domains/registration/results.aspx?domain=x-bitcoin I hope this helps. If nothing else it might help you to find good domain names you can resell for a higher price? |
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To buy or not to buy could boil down to an interesting trading discussion.
Is the latest decline in btc price the result of a dump(sell off) or is it a market correction? There could be an interesting fine line separating the two. If it is a sell off, the price could recover quickly as soon as the dump ends. In which case, buying would be the right move.
The second option says price declines are a "market correction". Its interesting to note that corrections may be something which occurs moreso in equities or stock trading than they do in bitcoin or trading of precious metals. Market corrections are associated more strongly with things like quarterly earnings expectations and press releases and forecasts. There's more causality that goes with price corrections in stocks, etc.
Market corrections in bitcoin are much more difficult to pinpoint. They tend to be associated more with forks, SEC announcements regarding bitcoin ETF's, miner activity and other things. If bitcoin's recent decline is a market correction, then its probably not a good idea to buy in if the price movement indeed reflects bitcoin's current status quo rather than a higher proportion of selling in trading volume.
In summary.
If its a price decline from a sell off or dump: Buy. The price will rebound when the sell off ends.
If its a price correction: Don't buy. The price isn't likely to rebound soon and could decrease further.
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Identity theft, financial fraud and theft of funds are much more common in traditional banking systems than they are in crypto currencies.
In terms of privacy, a case could be made for bitcoin doing a better job of protecting the identity and financial data of its userbase than banks or credit card companies could hope to.
Its common to see news stories where millions of credit numbers and financial data are stolen. Even the SEC was compromised earlier this year with the hack of their EDGAR system.
In theory, banks offer more "security" and "privacy". But watching the 6 o'clock news might tell a very different story.
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Bitcoin has a much higher tolerance for dumps and large sell offs due to its higher demand and higher transactional volume. The Winklevoss Twins could sell off all their BTC and it might not make much of a dent depending on the quantity and price of buy walls on exchanges. There are many other big holders of BTC such as bulgaria's government which held $3-$4 billion in bitcoin it confiscated from criminals.
I think the USA once held large amounts of bitcoin seized from silk road and other illicit enterprises. Last I heard, those funds were sold off years ago when bitcoin was worth much less.
With coinbase reported to be receiving around 100,000 new sign ups per day there could well be enough demand for bitcoin to survive large dumps without sustaining much loss in value.
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I hate to be overly dramatic about things  but I think fiat will never be replaced by crypto for one simple reason: control. No nation on earth would cede control over its monetary supply to a small group of bitcoin core developers.  Crypto currency that adopted by a government will likely be fiat implemented utilizing a blockchain. Government issued crypto likely would not utilize algorithmically regulated inflation nor limited supply. Also deregulated crypto which benefitted from low taxes, low fees, low bar to entry all of those features which contributed towards bitcoin being a more efficient, cheaper and user friendly currency likely would not be implemented by a state. Also the low cost of using bitcoin, would probably be abandoned. Wheras it might cost less than $50,000 for a small group of developers to create an altcoin today. If a government tried to create its own altcoin, it could easily cost billions or trillions of dollars. Governments aren't structured to accomplish goals in a cost effective or efficient manner. So there could be issues with governments attempting to implement crypto with a high probability it would turn into a profiteering enterprise invoking wealth redistribution where taxpayer funds collected from the poor to middle class were redistributed to a group of board executives through poorly structured & wasteful state run programs. |
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I only hope that people come to recognize how governments deliberately oppose progress and do things to make life harder and less enjoyable for everyone. Schools and media try to convince us that government is the only thing that can save us from our problems. Yet perhaps its fair to say that sometimes government is the problem.
In school, students are taught that its important to be skeptical and not believe in things without evidence. It might be important in this day and age for people to question and be skeptical of institutions like governments which make important decisions which have a powerful effect on billions of lives.
If the UK and other nations crackdown on crypto, it wouldn't necessarily be surprising. It would only reflect US Senate Bill 1241 which tries to be sneaky in doing much the same.
The legislative and media based attack on crypto could represent a good example of how governments cripple innovation and progress in society. There are many other examples of governments restricting innovation and progress. But I think bitcoin could be the most obvious one, hopefully something people will recognize.
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During that 2008-2009 era, there was massive economic slowdown. A lot of people lost their jobs and were laid off. The economic downturn led to reduced tax revenues collected by governments, worldwide. To meet budget projections, I think every state in the entire world increased their fiat printing. This occurred all over the world and the implications and effects are still being felt today.
It is possible the effects of the 2008-2009 economic issues and their long term consequences are a big part of what motivated Satoshi Nakamoto to create bitcoin. Its not a topic that is discussed much today in the media. But during that era, when journalists hands weren't as tied there was a lot of good discussion and a lot of good analysis and breakdowns that a person would never hear about today. Of course, a lot of things published about the 2008-2009 economic issues were lies as well.
But in that era the media was more objective and journalism was still a lot more legitimate and fact based than it is now.
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We have witnessed typewriters and paper based offices abandoned in favor of personal computers and digitized information. To a degree, a transition from purely paper money to a mixed economy of paper and digital data could represent a natural progression. I think that's a decent observation to offer to claims of digital data not having the same intrinsic value as precious metals. Also I don't know if such describes crypto currencies transcending space and time, there are a few hard limits on aspects of bitcoin such as transaction speed per second which could define it being somewhat limited in terms of space and time.  Although the current Internet currency is still marginalized and still in its infancy, showing the characteristics of brutal growth, but the innovation it brings is of great significance to the future financial development. I like the above line. Innovation. That point is key. |
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Whether bitcoin is a buy option @ $100K will depend on how many end users it has worldwide, and how far its user demographic has penetrated into the mainstream. If there's still plenty of space for bitcoin's userbase, demand and transaction volume to grow if/when btc reaches $100k, it could remain a viable buy option.
In a timeframe where btc reached $100k, I think some might expect altcoins to play a wider role in splitting bitcoin's network demands to put less strain on btc's network and transaction per second speed. The growth potential of altcoins could be considerably higher than the growth for bitcoin if a certain alt were to rise above the others in terms of solving some of the technical difficulties posed by crypto along with receiving wider retail support.
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An adviser to President Vladimir Putin said cryptocurrencies may help Russian banks avoid international sanctions, the Rambler News Service reported Tuesday. Sanctions against Russia have created an “objective need” for the digital currencies, Sergei Glazyev told a meeting of the presidential administration on the legal status of such instruments, according to Rambler. Glazyev also argued that the government could use cryptocurrencies to make and receive payments around the world for “sensitive” services, it said. Russian officials have grown increasingly nervous about a possible expansion of U.S. sanctions early next year in retaliation for alleged Kremlin meddling in the 2016 presidential election, which Russia has denied. Virtual currencies such as bitcoin, which has soared in price this year amid a rush by investors to buy the instrument, could help bypass any such U.S. measures because they allow users to remain anonymous. Russian Prime Minister Dmitry Medvedev signed a decree last month allowing the government to classify purchases by the Defense Ministry, Federal Security Service and Foreign Intelligence Service as state secrets. Glazyev, who’s himself under U.S. and European Union sanctions for his role in the 2014 annexation of Crimea from Ukraine, isn’t always in the mainstream of Kremlin policy making and has suggested in the past that Russia should liquidate its dollar reserves. He advocated creating a digital ruble based on the blockchain technology behind cryptocurrencies at Tuesday’s meeting, according to Rambler. https://www.bloomberg.com/news/articles/2017-12-12/putin-aide-eyes-cryptocurrencies-to-beat-sanctions-rambler-says.... I would be interested to know how compelling people find this news story. Paper fiat is much less traceable than bitcoin and likely a far better option for illegal activities than bitcoin or crypto currencies are. It is known that the united states military routinely "loses" billions of dollars in fiat & billions in military hardware all of the time: $45 Billion in Tax Dollars Goes Missing in AfghanistanHundreds of millions of dollars are missing in action in Afghanistan, and auditors are blaming the Pentagon’s flawed accounting practices for the problem. A new report from the office of John Sopko, the Special Inspector General for Afghanistan Reconstruction (SIGAR), revealed that there’s virtually no way to know what happened to a large chunk of money the Defense Department spent in Afghanistan before 2010. http://www.thefiscaltimes.com/2015/04/01/45-Billion-Tax-Dollars-Goes-Missing-Afghanistan Somehow I could never imagine something similar happened with crypto. Fiat seems like the best option for anything illegal, it is strange to me how the media continues to claim bitcoin transactions are anonymous or untraceable when the open ledger design of its system suggests the opposite. |
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How does bitcoin contribute in global market ? Most global markets cater to the wealthy and elites. The most supported financial and economic programs are wealth and wage re-distribution which tend to make the rich richer while at the same time making the poor poorer. Bitcoin's greatest global market contribution could be catering to everyone equally. Bitcoin actually is geared towards helping those living in poverty who are too poor to afford things like bank accounts or electronic payment methods. There are none of the minimum account balances, unfair taxes and fees which prohibit the poor from being treated the same as the wealthy by other financial or economic institutions. In this it may be said bitcoin's greatest contribution is something resembling financial and economic equality representing a stark contrast to our existing status quo. |
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I really miss the BTC-E days when it was convenient and fast to deposit and withdraw funds to make trades. BTC-E may have been the quickest and most efficient implementation of a crypto exchange I'll ever see.
With newer exchanges there's tons of red tape and pointless regulation that doesn't appear to do anything useful. The net result of all the kyc checks could be crypto currencies become less profitable and poorer demographics intending to trade have a harder time. Then there are issues like coinbase delays which could reduce buying of crypto and have the potential to reduce demand and price of bitcoin over time.
A crypto only exchange could be an interesting concept in that there might be no legal obligation to pay taxes until after the crypto is exchanged for fiat. It could be similar to stocks where there is no capital gains tax to be paid until after the stock is exchanged for fiat.
An exchange could be tough to run profitably. There may not be a whole lot of room for innovation of business model given how throughly explored electronic trading platforms have become over the past few decades. Commission less trades could represent something like a holy grail in terms of trading being much more forgiving. But then given how HODL may be the best trading strategy by far, its possible commissionless trades need to entice traders to make moves other than HODL.
With exchanges the question may be what represents the next generation advancements that will be made in trading platforms. Maybe there is some potential for better data management, better loan options, better algorithmic trading. I kind of feel like there may be other directions which could be explored.
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Bitcoin might excel if currencies like the dollar et al trips under a hyperinflation scenario but that for now is not visibly an option that is available, thus, another fundamental question is wether Bitcoin can replace normal currencies and that again is not feasible in the nearest future. Why then should people invest in or buy a currency that can rise or fall by 20 percent in an hour or two?
In 2017, we've seen russia, china and even venezuela transition from denominating their oil transactions in US dollars to denominating oil transactions in the yuan(chinese currency). Some might say the move away from the petro dollar many nations are taking is intended to protect their respective economies in case the US dollar hyperinflates or defaults. With america being more than $20 trillion dollars in debt and the European Union being something like $17 trillion in debt, it may be more likely that both will default rather than find a solution to their debt troubles. Politicians continue to try to raise taxes and spend their way out of debt and that guarantees inevitable default if things don't change. At least that's how I see it. Would be interested in hearing alternate points of view on this. another fundamental question is wether Bitcoin can replace normal currencies and that again is not feasible in the nearest future. Why then should people invest in or buy a currency that can rise or fall by 20 percent in an hour or two?
Paper currency transactions are, in my opinion, more efficient and effective in certain roles producing economic benefit than electronic transactions. There is no advantage to eliminating all paper money & there are many economic, financial and business drawbacks should that be the route we take. |
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I think the reason bitcoin is high in africa has to do with electronic banking systems in the region, which many africans rely upon to buy/sell goods using their cellphones, carry extremely high fees/taxes and service costs. Bitcoin is in high demand in africa due to its transfer fees being considerably less than the electronic banking systems africans use in the country.
There have been similar cases in the past where countries like cuba charge as high as 40% or 50% taxes and fees on wire transfers coming into the country. Cubans who immigrated to the united states used bitcoin to send money to their families back in cuba, as it would allow them to avoid those 40%-50% taxes/fees.
One of the reasons bitcoin succeeds wildly involves its fees being far lower than electronic banking systems.
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