Since the inception of the blockchain with Bitcoin in 2009, there has been a huge interest from governments, and central banks alike to design their own centralized digital fiat currency for their benefit. Given the security benefits and efficiencies that the blockchain provides, it would be used well in conjunction with AI technology, to transform the global economy in ways we've never thought possible. As such, there could be a future where everything is managed by AI and the blockchain would serve as the security and settlement layer for any kind of transaction. A one world currency might become a reality where it is backed by all the banks and governments alike. If this happens, then true autonomy would become established enabling everyday devices to operate on their own and "monetize" themselves via the use of a single unified global currency which operates on a blockchain. Therefore, both the blockchain and AI will have a huge impact in our world economy, and every aspect of our lives as we know it. Of course, this might take quite a few years to happen, but the benefits provided by such technologies would be too hard to ignore. What are your thoughts about this? Will both Blockchain and AI improve the world's economy?  The main benefits from the conjunction of AI and blockchain are bigger automation, less mistakes due to "human factor", increased level of security and faster processing of data. All these vulnerable nodes of economy are currently backed up by people. Imagine what would happen if millions of specialists lose their jobs and are just left on the streets? It would be a world-wide crisis resulting in riots and revolutions. What I mean is that automation of economic processes should be done gradually and smoothly. |
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Hello, community. Political, economic and social news in the media significantly affect the life and behavior of the crowd. How can crypto news affect the movement of the market?
News are actually affecting the situation on the market, especially the onew related to banning crypto in Asian countries and imposing regulations by the US and European states. Remeber the recent hype connected with btc ETF? People prepared for the hype, everybody was sure that ETF would influence the price of bitcoin (and consequently other alts). It's not the human stupidity, but psychology which is the cornerstone of crypto trading. |
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I don't think KYC for airdrops offered is fair for those who joined. Some ICO with airdropping is not also fine to get KYC for tokens worth almost nothing or a burger meal is not really fine. I observed it in some ICOs with airdrops that even with giveaways like that so small needs KYC? Don't fall for it guys, not worth it.
I absolutely agree - going through KYC process means that you have certain obligations for the project team, but in case of an airdrop it is absolutely unnecessary. Moreover, I think that projects which require KYC are just making a database of potential investors and further sell it. As a result, your mail is overwhelmed with the ads about upcoming ICOs, new exchanges and other announcements. It is really not worth it to sell your personal data for like 10-20 bucks. |
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I'm pretty sure crypto will be taught in schools in several years, not as a single subject but at least as a part of economy\banking\computer science course.
There are already teachers' initiatives who decided to give their students some info about blokchain and cryptocurrencies (I heard about this in some British schools). These courses are not obligatory, but they give the evidence of a rising interest in crypto, especially with the new generation.
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With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
2. Electricity Billing Mining More
With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.
I generally agree, but this very point caught my eye. I think all miners carefully calculate their expenses for electricity vs btc (or other coins) earned. Mining equipment is rather expensive relatively to people's average income, so before investing in an ASIC, for example, one make at least an approximate cost estimate indicating how much time it would take to get the first ROI. |
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Most probably in this section are users that are interested mostly in Economics, so I want to know why Economics attracts you?
It's not like we "must" study economics at universities, but definitely there should be a basic economy course at schools, because economic relations affect your daily lives and financial well-being. Of course, economy is not only about money - it involves a broader spectrum of issies related to population, production, resources, transportation and so on. I personally hated everything connected to economics until I left my mother's home and started making my own living - financial mistakes that I made could have been avoided if I had just a bit greater economical knowledge. |
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One step that can be done by the Bank is to allow Bitcoin transactions on condition that they have to be registered on a special platform. Later the patform must be accompanied by a central bank permit.
This means that all bitcoin transactions must be recorded by regulators, now there are many illegal bitcoin transactions without permission and without supervision from regulators.
There is one country that can use it, for example in Japan that allows transactions with Bitcoin, even for payments in retail stores.
The government in Japan actually allows retail stores to accept payments via bitcoin. There are 4,000 stores that accept bitcoin payments. So far there are no problems. Even the Japanese government is making its own cryptocurrency.
Banking with bitcoin is something different from just buying and selling goods in retail stores like in Japan. There are many rules that need to be followed when sending money via bank (e.g. you need to indicate purpose of payment). So I don't think such platforms will ever be widespread as hardly any users of bitcoin would like their transactions to be monitored and tracked. |
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As we all know that technology doesn't stuck at a single place. It always improves day by day. In the same thought, I believe that blockchain is being developed continuously. Do you know that what kind of development would be in blockchain? Please share your points. Thanks.
The main problem of every blockchain is scalability (the number and speed of processes simultaneously happening within the system). So I think the main efforts of developers in the nearest couple of years will be trageted at improving the scalability of existing blockchains (in the first place bitcoin) and creating new systems with the embedded abilities to quickly process multiple transactions at a time. |
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What do all of them want? Stable service. How can a normal, usual person use a currency which is able to gain or loss +-10-15% in minutes? And this is a common situation in crypto.
And opposite side, imagine that there will be a Bullrun, who will profit? Speculators and bounty hunters who will sell their tokens, not customers. What public opinion another Bullrun will cause? That crypto is speculation thing, where you are able to become rich, it is not about services or products, speculations only.
This question really made fall to thinking about whether we need bull run. As a bounty hunter I am eager to see the price of my tokens to rise several times.. But if I were an everyday user of crypto in real life, of course I would be disappointed about paying, say, 0.1 btc for some kind of service and the next day realizing that I overpaid like 25-30 %. |
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I think to have a bull market up-coming is the best way to move all the money that you have in altcoins to bitcoin, because with market dominance of Bitcoin the market will go green, and the bull run with start, as far as I am concerned from the previous experience of the bull run more than 55% bitcoin was dominant in the market.
Suggestions?
During the bull run one can make good money with alts too, and it has nothing to do with btc market dominance. Most altcoins are in their dip now, so it's a good time to replenish your portfolio hoping that they will at least go back to ICO price (and maybe make several X). |
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This and other questions are part of a questionnaire that we, a research team from the University Institute of Lisbon (ISCTE-IUL) are doing. It seeks to understand the drivers' usage of cryptocurrencies by the end user such as you and me. Considering 10 different dimensions, from perceived usefulness to privacy to profitability, among others. It takes on average 3 minutes to answer.
Here is the link for the questionnaire: https://www.surveymonkey.com/r/cryptocurrencies_usage Thank you for your time! Best Regards, The University Institute of Lisbon research team I liked the questions posed but some of them were a bit controversial to me. For example "I currently use cryptocurrencies as an investment" and "I currently use cryptocurrencies as a store of value" - doesn't this seem to be alike? Don't people "invest" in order to "store the value" of their investment? And also this: "I consider the net profitability of cryptocurrencies to be high." and "Considering my investment, I’m satisfied with the profitability obtained." Frankly, I hesitated while evaluating these two questions. On the one hand, the profitability of crypto is likely to be high (in certain favorable market conditions), and on the other hand the reality is not as trouble-free as we wish it to be. Anyway, thanks a lot for your interest in the people's thoughts! I will follow the results of your questionnaire with all the relevant infographics and conclusions. |
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I am talking to quite a few people who are investing in crypto and notice that very few have a broader investment spectrum. People either focus on ICOs, some small caps, others play it safe and stick with the high caps or established projects.
It seems like your mind is a bit prejudiced - while rotating in this market people possibly focus solely on crypto and avoid talking about their investments both in crypto and other options. I also agree that is easier to trade stocks, simply because the volume is so high that a few whales or big investors cannot influence the market as easily by dumping their shares. The stock market is also much more regulated, if someone is being caught doing washtrading or spoofing the consequences are dramatic. In the crypto world manipulation is something that poses a constant threat.
That's what I've been constantly talking about - lack of regulation for all those scam coins destroys the belief in blockchain as it is, resulting in what's been happening on the market for the past 6 months - deep downtrend which is unlikely to end in the nearest few months. I know that anonymity and making quick money has driven many people here crazy, but it should not go like that anymore. |
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it just needs in becoming more popular and so many organizations will lose their employees because of crypto.
Do you really believe that when an employee leaves the organization he tells his boss that this happened because he wanted to dedicate more time to crypto? I think most full-time workers prefer to keep secret about their engagement in crypto so as not to reveal why they don't have enough sleep and feel so tired every working day. |
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It seems that investors got tired of ICOs in the last months. Do you believe that ICO hype will come back soon?
The success of an ICO mostly depends on people's readiness to support the project with their money. It may take quite a long time for new investors to come because most projects failed to support their tokens the way they promised - everybody is simply afraid of walking twice into the same water. So I don't think we will see new ICO hype until spring 2019. |
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Goldman Sachs: Bitcoin can be useful for a troubled economyAccording to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy. Analysts at Goldman Sachs Zack Pandle and Charles Himmelberg said that digital currencies and, in particular, Bitcoin, can become a viable means of payment in countries where traditional money is not sufficiently provided. Goldman Sachs experts: crypto-currencies can help the troubled economy
I'm not sure that btc could be useful for unstable economies as a means of payment for that simple reason that btc is extremely volatile itself. The way I see it is that bitcoin could help to increase the people's income and thus bring more money to the economy. |
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Looking at the current market, many people are disappointed in the market price, bitcoin prices stomping at the $ 7000 level, altcoin prices are falling deeply. Recent good news, however, shows that the market continues to grow and has great potential in the future. What would you do this time: Buy bitcoin, buy altcoin or do nothing?
I just do nothing and patiently wait until my portfolio gets back to at least ICO prices. Not sure how long that will take - some say that we should be ready for the upcoming bull run at the end of this year. So I just monitor the market and try not to miss the significant changes. |
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I believe that bitcoin is underestimated, I do not claim that it should only grow! But I'm sure that the future is for him! crypto currency in general, and bitcoin in particular - this is digital gold, many people still do not understand this. I'm sure that in ten years it will be so.
I don't think Satoshi wanted bitcoin to become a digital analogue of gold. It is a currency in the first place, a financial instrument designed to facilitate the exchange of goods and services. Of course it has its own positive and negative sides, but being a "security" is not what bitcoin was created for. |
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I feel keeping our coins in exchanges, mininize the risk of loosing our coins to wallet hackers.
Every exchange can be hacked in a similar way. Look at the recent news - exchanges are being regularly hacked and people are losing their money. It's your personal choice to keep the coins at exchanges but you should be prepared for losing all your coins one day as nobody is absolutely immune against hack attacks. |
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Well most of us here are already aware of the hacking activities of binance and bancor.They are taking practical measures to track down the culprits but the question on my mind is why could coincidentally both exchanges be hacked?Now it appears that the exchanges are not moving at a faster and innovative ways to upgrading their systems and allow these hackers time to study their systems well,identify the loop holes and cause the problem.In my opinion, exchanges should always move in an unpredictable way so as to always confuse these scammers .The scammers are scaring new investors away and this must stop.Exchanges must be up and doing so that we can attract new investors into cryptocurrency else our efforts are going in vain to attracting new investors.
I think the main reason why exchanges are being hacked is because they don't want to spend enough resources on protection from hackers. The expenses for cyber security are extremely high and may reach up to 15% of the whole money turnover of an exchange. |
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So, what do you do with your numerous tokens? Do you convert them to fiat or Hodl the ones you can?
I prefer holding though a friend of mine suggested to sell half of my portfolio and convert the earned Eth to other hardly dumped tokens hoping they will lambo one day. This plan seemed risky to me, as you never know what will hapopen next and whether the project will be successful, so I decided to keep to the original plan. |
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