Adam Back, CEO of Blockstream and HashCash, has said: "Nothing is above Bitcoin, no Central Bank Digital Currency, no stable coins." He continued that: "I think that blockchains are more about permissionless, uncensorable usage and free market money. I think while it is possible and useful for some use cases, like crypto trading, to have stable coins, they inherently fall short of Bitcoin as they have custody risk, and if there is a central bank underwriting also traditional establishment interests reflected in the operation which may look unattractive to users." Source: https://cointelegraph.com/news/exclusive-nothing-is-above-bitcoin-no-cbdc-no-stablecoins-says-blockstream-ceo-adam-backI don't think i will agree with him on what he is saying. As it stands now, Bitcoin is actually struggling to gain mass adoptation in the mainstream financial transactions. In as much that Bitcoin makes it possible for everybody to gain financial freedom and also provide decentralization, you can not just conclude that nothing is above Bitcoin. Bitcoin has a long way to go before we can finally say and classify bitcoin as something that do not have anything above it. His reasons are not enough to conclude that nothing is above Bitcoin. |
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Binance is livid with it’s reputation taking a hit due to yesterday’s fud news which claimed that it’s Shangai offices were raided, and has decided to teach the Block a lesson by suing them for spreading fud news. It’s pertinent to note that Binance CEO and Justin have decided to contribute total of 200 btc to fight fud, though there’s no clarification on how they’ll use these funds. Now many will wonder what did sites like the block gain when they spread such fud news, well the answer is simple Traffic, their article went viral, advertisement revenues etc. In my opinion news sites should avoid sharing fud news articles, and especially articles that can damage an entire industry like we saw yesterday when bitcoins prices dropped $1000 in a matter of few hours. While many members are able to spot fud news some are not able to spot it so how can we tackle the fud news, and help bitcoin users outside this forum because it’s high time we stopped these fud news from going viral. Sources: https://bitcoinist.com/binance-to-sue-the-block-for-damaging-the-exchanges-reputation/https://mobile.twitter.com/cz_binance/status/1197720622681321472This initiative by Binance is a good step in making the crypto ecosystem free from all kinda wrong and misleading information. FUDs can be classified as the number one reason why a lot of people are scared of adapting to the use of cryptocurrencies. It scares investors and newbies from investing and promoting the entire crypto ecosystem. I just hope this action by Binance will not be for a publicity stand. |
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PayPal CEO Dan Schulman, in describing why the payment company decided to withdraw from Libra, also revealed that he is a hodlr of cryptocurrency, but only Bitcoin.
Interviewed by Fortune magazine, he answered the question if he personally owned any cryptocurrency:
“Yes. Bitcoin.”Source link hereOkay now this seems to be pretty interesting to me. Since he's a Bitcoin HODLer, I don't know if this is a sign that he could add BTC as one of features for Paypal. If that happens, I don't know what would that be. Probably might integrate Bitcoin as one of the payment options aside from Visa, Mastercard and AMEX? I have a Paypal account until now, but I only use it like few times a year since entering into the world of cryptocurrencies. Paypal was the payment processor I trusted during my early years as a virtual assistant. However, their fees are eating our funds apart. This is why Bitcoin is such a great alternative, and no doubt Dan Schulman's already convinced about owning some Bitcoin in the first place. Looking at the rate at which the crypto ecosystem is growing, the option to use cryptocurrencies for payment will be soon added to already existing payment platforms. These people managing and owning the traditional payment platforms are always interested in numbers. If they realize that the crypto space has a good number of people in its ecosystem, adding cryptocurrency as an option will definitely increase the numbers in terms of usage of their platforms and also gain new customers... I will not be surprised when paypal adds the option of using Bitcoin or other crypto coins as a payment option. |
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There have been almost 18 million Bitcoins created. We know that some have been lost over the years and can’t ever be recovered except potentially with quantum computers.
18 million - lost coins = ?
My question is how many Bitcoins are left, which is really a question of how many have been lost?
I don't really think lost Bitcoins have some level of impact on the entire bitcoin market and the crypto market as a whole. Lost means it will never be found and will never be useful in the entire crypto space. Just like physical fiat which usually gets burnt and lost, it doesn't really matter because they are lost. Trying to know the number of Bitcoins that are lost is just a futile journey. |
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The government can't really do any particular thing to Satoshi if they knew his/her identity. Personally, I think the only thing that the government could possible do if they knew who Satoshi is, maybe force him/her to take down the entire bitcoin blockchain network. And doing that might be very difficult since the bitcoin blockchain ecosystem is not based on a central platform in charge of the master execution. The entire platform is found on every system that join the network all around the world...
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Crypto enthusiasts buy crypto with centralized cards from centralized platforms. Transfer that crypto in centralized exchanges and trade with centralization. And whenever get caught in a problem with the exchange, accuse the centralized exchange. So how with all this you can talk about centralization?  ? You prove your words wrong with your acts. Personally, I see it that people find it much easier to obtain cryptocurrencies from centralized platforms since they are always assured that they will definitely obtain their crypto coins with less or no complications. Buying cryptocurrencies with a physical fiat on decentralized platform might look a bit risky to some people since no one is in charge of how the transactions are done. A lot believe that you can easily get scammed on decentralized platforms rather than centralized crypto platforms. |
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I am just wondering would it be possible in the future for the world to run solely on cryptocurrency? Considering that right now there are many people from different walks of life who are using cryptocurrencies in their day to day life. I think right now one of the main limiting factors for world-wide cryptocurrency usage is the world’s governments who make restrictions on cryptocurrency usage. Moreover, I also think another factor in limiting cryptocurrency usage is a lot of people’s lack of understanding of cryptocurrencies as it is a rather new technology to most people.
I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.
What would do you guys think, I’m just speaking (posting) my thoughts over here. Feel free to correct me if I am wrong. I’ just rather optimistic about the future of cryptocurrency usage in the future.
Considering the state of the entire world in terms of the usage of Cryptocurrencies, it is very unrealistic for the world to run on cryptocurrencies. The media is always spreading FUDs about cryptocurrency which in some way discouraging people from adapting to the use of cryptocurrencies in their online transactions. The adoption rate of cryptocurrencies into the mainstream financial ecosystem is very low. The only way for the world to run on cryptocurrencies is through mass adoption of it into their daily transactions. |
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Due to my clipboard hacking, A fund was sent to the hacker's wallet. I contacted ( within next minute) my exchange Gate.io and they are very much helpful and showed a good approach to help me. They suggested me to trace the fund and notify them if I see the fund goes to a platform. I traced the fund and the fund was sent into another wallet and then to Hitbtc platform. I notified them immediately and the whole thing was just in few hours. But Hitbtc took almost 36-48 hours to respond to me in that case and in the meantime, I chatted on their telegram group several times with several admins. Though they were saying to me that I should have a solution at the soonest time but later what I got is really unacceptable.
They are saying me to report to the local police and then the police will contact them and they will share the details, other than that, they won't do anything. On the other hand, our county has no specific regulation or law about crypto but it was stated not to use this type of asset. If I go to a report about this, I might be facing different laws issue. Why they are not helpful. I know one of my friends who had a similar issue and Binance helped him to recover the fund with some process. Why they can't do that? if they need my local law guidance though crypto is not legal in my country, why they are accepting users from my country? If I need to be a centralized law follower, how they can operate their business including my country? Can anyone help me in that case?
Thanks
Looking at the state of your problem now, it will be very difficult for hitbtc to help you to recover your funds. Once it's been withdrawn out of your account, there is nothing they can do to help you out. You just need to forget about this and advise yourself to always keep your login info secured and also add other security features to your account. |
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I was browsing eBay and I see many sellers,who are selling bitcoin and altcoins.
I thought that eBay isn't crypto friendly,but the sellers,who are selling 24-hour btc mining contracts.
The fees are ridiculous.To buy 9USD worth of BTC,you have to pay 14USD via paypal.
It's weird that those people actually have sales.
First and foremost, why will someone waste such money for such amount of Bitcoin whiles there are good platforms providing a 1:1 ratio in terms of the pricing and the value of bitcoin in dollars. personally, I will never go in for such business of paying more than I will be recieving . |
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Personally, the only safety concerns I have ever thought of as to do with wallet protection and exchange platform account protection. These are the only media people can actually lose their Bitcoins and other cryptocurrencies. For scammers and integrity of content creators, you can easily avoid them compared to your wallet or exchange account getting hacked.
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Hello Everyone! I developed this Application to cover the need for transparent actions regarding Bitcoin. This is a single Member Project so be kind i am doing my best! Hope you like it Please Provide your feedback so i can add Functions you need! A Client Side Bitcoin Toolbox for Android. https://play.google.com/store/apps/details?id=com.bitcoinTools.bitcoinToolsGenerate Bitcoin Addresses Offline. *Generate Legacy Address (P2PKH) *Generate Segwit Compatible Address(P2SH) *Generate Segwit Native Address (Bech32) *Generate Mnemonic Seed / Passphrase Using default or Custom Derivation Path Restore Address from Private Info *Get Addressess all types (P2PKH , P2SH ,Bech32) from Private Key (WIF) *Extract Address & Private Key from mnemonic seed (Derivation Path Required) Get Bitcoin Address Info *Final Balance *Unconfirmed Balance *Total transactions *Unconfirmed Transactions *Total Sent *Total Received Send - Receive Bitcoins (Alpha) *Generate Raw Transactions *Sign Raw Transactions *Verify & Push to Bitcoin Network Bitcoin Address Generators are 100% Client Side and Offline. You can monitor Network traffic to confirm this. Planned Additions *Add Security Prompt for Rooted Users *Implement Encrypted Key Vault to save Private Keys Generated *Bitcoin QR Tools + Whatever you request! It is a very good initiative to develop a Bitcoin application that is some way, decentralized but you have posted this in the wrong section of the forum. This part of the forum is for discussing issues specifically related to bitcoin. You should move this post to Development & Technical Discussion section of the forum. There you will get a good technical review of your application.. |
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Despite Bitcoin plummeting in value, it seems that whales haven’t lost their appetite. One major BTC whale just withdrew 12,000 BTC ($89M) to an external wallet.
The market is in chaos today as Bitcoin experienced another double-digit drop. Just a week ago, Bitcoin was trading at $8,700 — it is now trading at around $7,100. For the first time since May 2019, the market capitalization of the entire cryptocurrency market is under $200B. According to the Crypto Greed & Fear Index, the current sentiment is one of ‘Extreme Fear.’Source link hereLook guys, I know how it feels when we are in a bloody market. Correct me if I’m wrong, but there will be two scenarios about this Bitcoin whale: Scenario 1: He bought it at a higher price and withdrew it while Bitcoin is on a bloodbath. Scenario 2: He bought it at a lower price years ago, and withdrew it without even have to worry about the bloodbath. If there would be another scenario, what would it be? Can you share it here guys? Thanks in advance! What you should always understand is that not everybody in the crypto space sees bitcoin as an investment entity but rather a digital currency for payment of goods and services. And also, I don't really think this person purchase the bitcoins at a high price compared to the price now. In January this year, Bitcoin was worth around $3k. All those who purchased bitcoin in January can sell their Bitcoin now and still make profits rather than lose. They can make about 50% profit out of their initial investment capital... |
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The true of value of bitcoin can not be easily predicted or analyzed due to the decentralized nature of its network and system. The market value of bitcoin is all the time determined by the demand and supply rate of it in the market at a particular moment in time. Last year by this time, bitcoin was worth less than $7k and as at January 2019, it was worth around $3k. This tells you that the market value of bitcoin is very hard to predict in a particular moment in time..
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Exactly, China can't be the cause of crash in the market value of bitcoin. The raise and fall of the market value of bitcoin is just the nature of the decentralized nature of bitcoin. The real reasons for the crash of the Bitcoin market are not really known and no one can actually tell the real reasons. I believe this is just FUDs to cause faint-hearted holders to sell their bitcoin. |
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Reasons why i prefer mining coins than investing a dime on IEO/ICO projects
1. My profits is assured.
I dont have to wait for a project to do x3 or whatsoever to get profits on my invested cash,with better mining rigs and good calculator you will know when your ROI will come.
2. No worries of getting scammed
I dont have to investigate an exchange before investing or wasting time doing research on projects before investing,all i do is mine ETH and sell for fiat or decides to hold for a little while.
We are all entitled to do the things we feel meet our preference. But you should also understand that crypto mining is also another form of investment. Just like IEO and ICO, you need to invest some amount of funds to get the hardwares needed for the mining. Both IEO/ICO investing and mining are forms of investment but with mining, the person's investment outcome can be easily calculated and he/she can easily tell if his/her profit margin is good or not. |
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People should understand that cryptocurrency transactions do not need confirmations from any third party. Even if the use of cryptocurrency is banned at a particular country, you can still make transactions in that country since you don't need a third party to confirm the transaction. But who says the use of cryptocurrencies in China is banned? You should not waste time in believing FUDs spread in the crypto space. It is always advisable to do your own research before believing any news shared in the crypto ecosystem.
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21 million cap in my opinion is not about scarcity and price but instead it is more about having a clear maximum supply and a clear predefined plan for distribution of that supply. this design was specifically chosen to fix the problem with fiat system where there is absolutely no cap and no predefined plan of supply creation. the government can print as much money as they like and that causes inflation among a lot of other economical issues.
as a side product of that, we get the scarcity and with a limited supply and an increasing demand we get the rising price. of course it should not be forgotten that the demand is an important part of that rise otherwise we have altcoins with much smaller supply that are not only worth less than bitcoin but they are losing value as time goes by even though they are supposedly scarce too.
I think you don't understand the point this person is trying to make here. What this person is trying to say is that scarcity is one of the main things that influence the markat value of Bitcoin. And the reason was that Bitcoin has a fixed number of total supply which is the 21 million cap. He believes that the number of total bitcoin in circulating as some kinda scarcity nature to it. With a fixed number of total of supply, once demand increases, this will cause bitcoin to be a bit scarce which will cause the value of bitcoin to increase. |
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A recent analysis from CoinMetrics hints that over 1,500,000 Bitcoins could permanently be out of the total circulation. While BTC’s active supply should currently be over 18 million, the quantity fell short.
Notably, on October 19 this year, 18 million BTC officially entered circulation, which happened at block 600,000. At this time, the community began cheering up as it highlighted “the end of the inflation process for Bitcoin.” However, things aren’t as they appear. The supply reportedly fell short which brought on a sense of fear, where are these lost coins going?Source link for the news hereI honestly don't know what you guys are thinking about this one. Do you actually agree that Bitcoin's circulating supply is not 18 million? Do you guys believe that these 1,500,000 BTCs are actually lost? I know that some of you may have different reactions to this one. I would love hearing out your thoughts and opinions about this one guys. Thanks in advance. I get that you might not agree that the total circulating Bitcoin is 18 million + as shown by coinmarketcap, but you understand and know that the Bitcoin blockchain network is decentralized network and all transactions made seen the launch of Bitcoin can be seen on the network. Due to the nature of this network, the total number of transactions made can be easily accommulated and the total number of circulating Bitcoin be seen. |
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Considering the current trend in the crypto space, Japan and South Korea are currently the countries I think actually accept and regard cryptocurrencies as an actual method of payment. These countries have projects supporting the use of cryptocurrencies as an alternative method of payment which in some way be considered as promoting the use of cryptos as an actual method of payment.
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Hodling is by choice and not a forced act. If you choose to hold a particular crypto coin without understanding some basic aspects of the coin you are holding, you might be doing a big mistake holding that particular coin. Speculations made by people regarding the type of crypto coins to hold are just their personal views. You shouldn't just trust such speculations without making your personal research and study about that particular coin. Choosing to believe in the word HOLD is your own decision because I don't believe without having some amount of evidence backing the reason to hold.
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