What did you think about the future of dogecoin?
Is it going to do well in the future?
The reason why I'm saying this is because I'm holding dogecoin, did you think I should keep holding it?
Dogecoin has no future. It's a speculative instrument. Just like the rest of the other "meme" coins on the market. Expect the price of 1 DOGE to remain low forever. Elon Musk only picked this coin to make a lot of money. Not because he's taking it seriously. Even Dogecoin's developers said the project was a joke. People are wasting their time and money in garbage. They'll eventually get "rekt" due to poor investment decisions. Despite this, I believe Dogecoin will survive for generations. It has a strong community and solid merchant acceptance. Being the oldest "meme" coin does bring its benefits (first-mover advantage). As long as it stays decentralized, nothing else matters.  |
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I don't see Satoshi buying billion dollar yachts. I think most people wouldn't like to be very rich in crypto if they can't spend it.
Exactly. That's the point. You must be discreet by keeping a low profile to avoid bringing unwanted attention. Why do you think Satoshi never disclosed his identity in the first place? Because he knew of the consequences of doing so. Especially when he created an alternative to the existing monetary system. Governments would've been on his tail if he revealed his identity in the first place. May this be a lesson to everyone involved in crypto. Never disclose who you are or what you possess. Sadly, figures like Roger Ver, Charlie Shrem, Tornado.Cash developers, and Samourai developers are ultimately paying the price. With increased government outreach/oversight, developers/founders need to remain anonymous to keep Bitcoin (and the whole crypto industry) safe. The future can't be predicted, so lets hope for the best. |
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I still think it's a good deal for CZ. Different countries have different restrictions for someone who has done time, some stringent, some not so much and some you can clean off after a few years of decent community service.
CZ should also have enough money stashed away that he may not need to look for work as normal people would, and any job he does get will be covert and more of a consultancy role than a financial manager or part of an open board. That will not get so much trust from the public.
Of course he does. I bet CZ has all of his money in crypto stored away someplace safe. He's not that stupid. The government may be able to confiscate Fiat (USD) and crypto on exchanges. But not self-custodied crypto (where you control the private keys). Once CZ gets out of prison, he will enjoy spending his fortune. SBF will not be that lucky because of his longer sentence. He used customer funds, whereas CZ only allowed money laundering on Binance exchange (and paid a hefty fine in return). He saved crypto by taking responsibility and stepping down as CEO of the world's largest crypto exchange. Hopefully, we'll see CZ involved in crypto again after four months. Who knows what the future of Binance and BNB will be? |
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It's kinda frustrating when people think synthetics (or tokenized stocks) are some sort of legit stocks. Tech that would be suitable for issuing and trading securities like stocks in blockchain, as permissionless crypto tokens isn't available yet. It would need build in KYC among other features that none of the chains so far doesn't have, and those features would be extremely difficult to implement with L2, while L1 would stay without ZK tech.
Transferring these rights without KYC would be against AML laws, and it needs privacy to prevent market manipulation like front running with higher fees.
If regulatory-compliant stablecoins are a thing these days, then having tokenized stocks should be a no-brainer. Many of the stablecoins have a "blacklist" feature which allows the issuer to restrict certain holders from moving their funds to another address. A similar mechanism could be implemented on tokenized stocks. To be able to purchase them, you'd need to provide your identity to the exchange/broker. Transfers between accounts will not be permitted. There isn't a regulatory framework for this yet. But with interest/demand, anything's possible. I'm frustrated because there aren't any options to invest in stocks with crypto. Perhaps, it's too early to ask for something like this? With "Wall Street" showing interest in crypto/Blockchain tech, it's possible we'll be able to do such a thing in the future. Just you wait and see.  |
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Monero will obviously continue to function, as it's Blockchain is decentralized by design, people will continue to mine and transactions will continue to flow, but with a very low volume than before.
The price will be negatively impacted, I think as it becomes a less liquid asset, though there could be some solution in the horizon if some developers started to work on an application for people to exchange in a P2P manner and make that application free software, there have had some of those for Bitcoin and their popularity has varied, though, it could become a central way for people interested in buying Monero to reach their goal into privacy. However, I am not sure how one could solve the problem of less businesses and people accepting it in exchange for their goods and services on the internet, the stigma which is being purposefully created against Monero will make merchants not to have anything to do with this project.
The community of Monero is passionate enough for them to think and come up with a solution to this lack of liquidity, this as expected to happen on exchanges, so let us see what the response is going to be.
Of course it will continue to function. Only if nodes and miners are still supporting the network. The only thing is that market prices would be so low due to decreased demand/mainstream adoption. You'd only use Monero as a currency than a long-term investment. With how things have been going on for XMR, I think it will end up being traded solely on DEXs and P2P trading platforms. CEXs would be out of the picture. This is good because it will make Monero more decentralized. Perhaps even more decentralized than Bitcoin itself. Hopefully, the Monero project gets enough funding to sustain itself for generations. As long as it remains actively-developed and maintained by the community, there should be nothing to worry about. |
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First of all I would accept that I am a fan of Solana because of its technological advancement, and its potential to play a significant role in block chain echo system. The credit goes to its professional team who continuously struggle to make Solana a great block chain that provides servies to its customers at a very competitive transaction fees.
Regarding its potential in future, I think it has not yet shown its real color despite the fact that it has demonstrated tremendous growth during the past six months. There is anticipation that Solana could surpass its all time high of $260 in the upcoming bullish market
It could surpass its ATH if the "meme" coins craze continues. That's what's keeping the "flow" going. Aside from the fact that Solana has cheaper fees than most popular smart contract platforms. The only downside is the network outages. If Solana achieves stability, it might topple ETH someday. Who knows? I'm surprised it has gotten this far despite being linked with FTX. Investors prefer this coin for some reason. The market is unpredictable, so I'd suggest you diversify your investment just to be safe.  |
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Yes the Solana blockchain is still experimental. If you do any type of coding you will even see that the main API is something such as “Solana main net beta”. They call it beta to mean that it’s still not a fully developed project.
If you use the network a lot, you will see it gets hick ups from time to time. There are times when it’s impossible to send a transaction no matter how large your fee is.
You don’t get these issues on ETH or BTC even those have higher fees.
That explains the constant network outages. I knew Solana was an experimental chain all along. Unfortunately, most whales and retail investors don't care because they only want to make money. Solana is the #1 chain for "meme" coins right now. It's no wonder why it's still going up, despite the FTX collapse and constant network outages. Developers promised the Firedancer node software will fix Solana's problems once and for all. I'm yet to see if that's going to be the case after launch. Even if Solana improves, it'll never become as good as Ethereum. Nothing is guaranteed to last forever. So I'd avoid putting all of my life savings into SOL, just to be safe. |
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That's an interesting question, and I'm personally not 100% anti-censorship, so I'd actually support the decision to make it impossible to build NFT-like things on Bitcoin blockchain. But I'm not a part of decision-makers in this case, and it's also clear from this thread and other discussions that it's a divisive matter. Miners probably enjoy high fees, as it's more income for them. Everyone else probably isn't thrilled with high fees, but for long-term hodlers it's an insignificant matter (as they don't move their coins much anyway). Then we have those who are directly affected by high fees, but even among those there are people who see it as a necessary downside of freedom, decentralization, and censorship-resistance.
So even if it's technically possible to do such a fork, I think it's too divisive.
Of course it is divisive. If such a hard fork occurs, BTC would be in "utter disaster". People who want the purity of BTC as a Blockchain for financial-only applications should try either the BCH or BSV hard forks. These last two didn't adopt SegWit + Taproot, making it impossible to inscribe NFTs on-chain. I sure hope the main BTC blockchain gets some sort of upgrade that would boost transaction capacity to keep fees low for a little while. The Lightning Network is flawed, despite years of research and development. Totally not the best way to scale BTC. In the meantime, we should wait until fees decline to make our move. Fees can't stay high forever. As long as Bitcoin stays decentralized, there should be nothing to worry about. |
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Bitcoin will "survive" in the same way IBM mainframes have "survived". There's no reason Bitcoin won't stay around forever.
As for whether it will remain at this price level, or drop to $100 or go to $100,000, well, that's anybody's guess.
But when it comes to technology, centralized is the future of digital currency. The blockchain architecture doesn't solve any problems large numbers of people have. A centralized architecture is faster, cheaper, more secure, and can scale to the level that will replace every single monetary transaction that happens every day between humans.
But Bitcoin still "works" just fine, just like the IBM mainframes that power many banks do. But digital currency is still very young, and we haven't yet seen the equivalent of the PC let alone the iPhone in this business. There will be major changes yet to come.
By "IBM Mainframes", are you implying Bitcoin will become obsolete in the future? I know altcoins have better features than BTC, but none can outmatch its level of security, reliability, and censorship-resistance. Given that Bitcoin has come a long way since 2009, it's hard to imagine it will die anytime soon. Institutional adoption is increasing at a very fast pace. What I don't like is that most people are relying on BTC as a store of value than a currency. It will never be able to replace Fiat this way. If Bitcoin survives, I hope it never becomes centralized. We should stop selling our BTC to institutional investors if we want to encourage self-custody. If they acquire all of the BTC, then you'd need to trust a middleman to buy/sell the cryptocurrency (something Satoshi meant to avoid in the first place). The future is unpredictable, so lets hope for the best. |
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It is too far-fetched to expect central banks to collapse and be replaced by other systems such as blockchain. Bitcoin is an alternative for humanity who no longer believes in a centralized financial system, but Bitcoin cannot necessarily replace a centralized financial system because of government interference and all its regulation.
Everyone we can say anything, but in reality we cannot go against the rules that have been established. The community does not have power over the government, but I am still grateful that we still have options that are so far reliable. Bitcoin for me is an alternative that can be utilized at any time, but bitcoin is not to replace the existing financial system.
Exactly. It's the government who has the final say on what goes in and what goes out. Even if Bitcoin is decentralized, that doesn't mean everyone is permitted to use it. If the government declares it "illegal", people will be afraid to use it because of the consequences of doing so (jail time, fines, etc). Central banks and the corrupt Fiat money system will continue to rule the world as long as governments exist. On the other hand, BTC will remain an alternative currency for people who want true financial freedom. It's now being treated as Gold, especially with the low supply and high network fees. Inflation on Fiat will end once central banks reset the global economy. It should only be a matter of time before this happens. The question is: Are we prepared for the launch of CBDCs? |
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It's going to be tough for them. If you can't exchange for it a lot of people will just stay away. Put that with the fact people only are really buying the hot new thing I can't see monero staying around forever. Slowly the old momero crowd won't have any new blood and will soon wither away like a ton of other old school coins.
I'm afraid so. Without places to buy/sell Monero, who would want to use it? Only a small portion (mainly libertarians, cypherpunks, tech enthusiasts) will support XMR. The rest will carry on as usual with top-tier coins. Expect the battle between privacy coins and mainstream governments to last for a long time. I can't imagine how low XMR's market price will be in the future. Especially without exposure from VCs, institutional investors, and retail investors alike. Definitely not worth it as a long-term investment. If you're planning to use Monero as a currency, this shouldn't be a problem. Hopefully, developers stay anonymous to help protect XMR against government interference. Maybe Monero will live alongside Bitcoin for generations?  |
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done
Perfect! Thanks a lot! Enjoy the rest of the weekend. |
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One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.
Of course I do. The rising cost of goods and/or services have severely impacted the lives of many people. This is all because of inflation. Unnecessary wars between countries, rising geopolitical tensions, and the COVID-19 pandemic's disruption on the global supply chain are having a profound effect on the global economy. Central banks won't be able to do anything about it if inflation keeps spiraling out of control. What they can do is "reset" the economy by launching their very own digital currencies. And that my friend, will happen faster than you can imagine. Governments and central banks will have more control/power over the economy han ever before. It will mark the end of paper money and privacy for good. One would hope things get "back to normal" soon. As long as there's world peace, there should be nothing to worry about. |
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Bitcoin is decentralized, and therefore we have alternatives if we decide not to use dollar, and governments will not be able to impose guardianship over us.
The dollar is involved in every meal we eat or coffee we drink. Global supply chains depend on dollar. Most fuel is priced in dollars, transportation and insurance vehicles are priced in dollars, and even countries that have begun to reduce dependence on the dollar, the dollar still represents the largest part of the budget, so replacing the dollar is currently impossible.
Let's not get our hopes too high. The USD's dominance can't last forever. It will slowly decline until another currency takes its place. American decline doesn't happen overnight. I think it will take 10-20 more years before the USA loses superpower status. Countries are already getting prepared by looking for alternatives to the USD (aka De-dollarization). Don't count on Bitcoin replacing the USD, though. Especially when it's decentralized and out of the hands of mainstream governments. Even El Salvador uses the USD alongside BTC. With rising national debt in the US, its "death" is becoming certain each day. Who knows how the future will look like without the US in play?  |
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Replacing your current with a foreign nations while in alot of debt wont work out too well as Greece discovered after it hosted the Olympics and joined the Euro; it was about to be bankrupted. They lied to join the Euro while unable to sustain their progress positively; their only advantage was being small enough their former leaders actions were an embarrassment more then any real burden nominally to the large EU bloc.
Argentina is already using the dollar and other currencies in effect. Part of Bitcoins usage I think comes from countries with failed economic systems, its the currency of last resort to some.
Ironically Dollar is in shortage in some parts of the world, liquidity that comes from that international market might be lacking. I believe Argentina might find its not an easy solution to use someone else's currency solely. If they had feasible targets to recovery, massive exports especially shared with Dollar and also USD was very easy policy I guess its possible.
Basically Argentina needs to be an oil exporter on the level of OPEC and they arent. I cant think of anything they might use instead just as good and in demand in exchange for dollars.
Collapse is the not wording I would use, slowed descent a parachute of sorts is in deployment by all indebted banks. Not just Greece the majority are bargaining in hopes to delay touch down and reset, I would accuse ECB itself of not out lasting any commodity backed currency or strong export economy FIAT or not.
The world often behaves in strange and mysterious ways. Even though the global economy is collapsing, central banks aren't showing signs of fragility. They will remain in power as long as governments support them. And people can't do anything about it. Bitcoin was once thought to be Fiat's replacement. But so far, it has failed. Especially when many consider it to be a store of value than a currency. Using BTC on top of Fiat is only a pipe dream. At least, we have a choice. As long as BTC remains decentralized, there should be nothing to worry about. Who knows what measures central banks will take to protect the economy in the future?  |
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This is how I got my first stocks using cryptocurrency, there are some brokers who did but the fees were extremely crazy high, I am using FTX Exchange(now gone) (less fee) for tokenized stocks.
I also tried currency.com before and now they have rebranded to Dzengi.com, the transaction fees here are just crazy high. I am also looking for an alternative.
The high network fees on popular Blockchain networks is what "kills" everything. L2 networks bring hope, but they're still experimental and under active development. Until Blockchains solve scaling issues, don't expect stocks to be traded directly across blockchain networks anytime soon. Still, brokers can accept crypto deposits and convert it to Fiat for stock investing. "Where there's a will, there's a way". I think nothing like this has been implemented yet due to fear from government regulations. Especially in the US with the SEC's aggressiveness towards the crypto/Blockchain industry. Maybe someday our dreams will come true? Only time will tell. |
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The US government is after everything that is or was created for privacy. Monero being the most used privacy coin is facing the pressure of the government. Cannot say anything about local Monero exchange but delisting on some of the big CEX will hamper it's market and ultimately affect its valuation in long term.
We all knew what was coming. Now everyone has to face the consequences. Monero could survive if the community continues to support it. All trading needs to be done across truly-decentralized protocols and software to help prevent another government crackdown. With platforms such as Bisq, Haveno, and Serai, what could go wrong? The core Monero developer team needs to remain anonymous for all of this to work. Without CEXs, XMR will have less exposure to the mainstream world. This means lower market prices in the long run. But at least, Monero will do the job it's supposed to. It's a dark future for the whole crypto/Blockchain industry. So we should be prepared for the worst. |
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Of course it will survive. But not in the way you think. Bitcoin will become institutionalized and heavily-regulated by mainstream governments. It will be quite challenging to obtain true financial freedom. Especially with KYC and surveillance all over the place. The days of true decentralization and censorship-resistance are coming to an end. With the path Bitcoin is taking, don't expect things to get better anytime soon. We can blame people for relying on BTC as a store of value than a currency. "Wall Street" is now in the game, and it's already too late. Don't want to sound pessimistic, but these are the facts. I wonder if there's still hope for BTC? |
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It's true that we shouldn't store our assets on centralized exchanges but I don't see any connection between CZ going to jail and storing assets. In addition, comparing FTX with Binance or CZ with SAM is also quite lame, why did FTX collapse, then SAM went to jail and CZ went to jail but binance still dominates the cryptocurrency market? This is really a lame and somewhat unfair comparison for Binance as they always try to do their best and customers are always satisfied with them, while FTX was previously a scammer with a plan.
I'm not defending anyone or encouraging anyone to store their bitcoins on centralized exchanges but we should evaluate things fairly and clearly. By the way, are you sure you're not using binance or any centralized exchange?
Well, the risk of loss is higher now that both CZ and Binance exchange got scrutinized by the US government. It's advised to move coins out of Binance just to be safe. If FTX repeats itself, you can say bye-bye to your BTC for good. Self-custody is and will always be the best choice for storing your Bitcoin. The only problem is that you can't trade your BTC without leaving it in the hands of a third party. DEXs are not a solution, especially with their low liquidity and terrible user experience. It's this reason why many people don't bother leaving their coins in centralized exchanges. At least, CZ got a better deal than SBF himself. He'll be out in no time. If Binance survives, you can expect it to adopt stricter KYC and anti-money laundering policies to please the regulators. This means more pain for everyday crypto traders/users like me. Perhaps, we'll be seeing CZ back in crypto affairs after prison? Only time will tell. |
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Privacy and anonymity weren't the "first thing Bitcoin was originally designed to accomplish". Bitcoin was supposed to be peer-to-peer electronic cash, which can be used without the need of banks and third parties. Just read the whitepaper again. Does it mention anything about privacy and anonymity?
The BTC blockchain was never designed to be anonymous and private. Actually, the BTC blockchain is pretty transparent and transparency is a good thing, because it creates trust.
BTC mixers weren't a thing when the BTC blockchain was created. Why would the BTC blockchain be dependent on the existence of centralized third party services like BTC mixers?
Mixers aren't mentioned in the whitepaper. But the fact that Bitcoin was created by a cypherpunk with libertarian ideals, says it all. In the early days, many believed BTC to be truly-anonymous. It's just that the rise of centralized exchanges and surveillance/analytics tools defeated Bitcoin's original purpose. Mixers were created as a solution to this problem. But they're still far from perfect. Centralized mixers may've been taken down by mainstream governments, but that won't stop developers from making non-custodial (decentralized) ones. The failures of mixers won't affect the core Bitcoin blockchain because they aren't directly part of the network. Just like L2 scaling solutions (eg: Lightning Network). Rest assured that Bitcoin will continue to carry on as usual because of the way it was designed (decentralized and censorship-resistant). As long as it stays that way, we should have nothing to worry about. |
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