|
I wouldn't deny that power requiment is indeed a pain area for lot of miners and China is cracking down on it heavily. We have also seen few instances where miners tried to steal power from the main grid to increase their profitability. But can you please look at the volume of such instances? A single instance in China, doesn't really describe the picture of the world. This is just an exception!
If a company has taken proper license to operate a mining farm, they had definitely given a power requirement estimate to their local power supply authorities. If a certain mining company is not having license to run mining operations, they would certainly be closed down by the local enforcement agencies! If someone is doing something illegal, will crypto community take the responsibility of it? Certainly no!
There are lot of other mining companies being operated worldwide. All of them require energy to run. How many similar instances you have seen?
China is not the world! Their communist government is not really friendly about bitcoin and other cryptos since its inception. We must not decide on the basis of an incident that happened in China!
|
|
|
|
If stockmarket goes up, do you think crypto market would too?
please provide me good reasonss
There is no correlation at all! Bitcoin is nowhere close to traditional asset classes and traditional investors don't really like bitcoin as an investment. The main participants of the Bitcoin market is tech-savy millennial who likes to take risk and make big out of it, which is definitely different than the investment ideologies of the traditional class of investors. If you try to find correlation between stock market and Gold, then it's valid because Gold has been serving as a hedging instrument for the traditional class of investors. But bitcoin has not yet matured to that level where it can provide a safe hedging against stock market's movement. We still have a long way to go! |
|
|
|
I've been following the trend news of central banks creating their own digital currencies but a question have since then troubling my mind.
1. These new Central Bank coins are they going to be stable coins or not? These are just digital representation of the central bank issued currency. For example, if you can buy a McDonald's burger at 4 USD in fiat, same things can be bought by 4 EUSD. 2. What will happen if they are not stable coins? If holding them will be profitable many will leave crypto space and focus on these new coins? These are stable coins, so holding these coins would not fetch any profit. 3. Maybe people will just use them as a plus since it's from the government? Insted of carrying your wallet, you can carry your money in your mobile phone. That's convenient! 4. Will regulations still come after this? I think other coins will be neglected and regulations will only be for coins from government? Yes, regulation similar to cash currency will also apply to it. However, it wil become very transparent to the government and they will be able to monitor every single transaction that happens using e-currency. So the scope of cryptos are not reducing. People who wants to use cryptos as a currency or as an investment, will continue to do so! |
|
|
|
Bypassing internet bannis not a difficult task at all. Anyone with little knowledge on VPN can do it with ease! However, if all countries of the world comes together and plan to ban everything related to bitcoin (highly unlikely to happen) and do it from the satellite that controls the internet, then it would be a big challenge. Still, we have another solution to it. It seems like two developers have invented a technique to send bitcoin over radio frequency. Read the article below, https://www.cryptonewsz.com/first-ever-bitcoin-btc-transfer-through-radio-waves/10755/amp/But, with the growing interest of countries about cryptos, this is very unlikely to happen! |
|
|
|
There were many events keep on happening in US justice department about bitcoin.
In some county its accepted for paying water bills and taxes.
In some places I have seen news US Fed wants to introduce new bill for legalization of bitcoin transactions.
When it was illegal in US? I don't remember! Besides Japan, US is the only country which is working to make cryptos legal. However, the IRS keeps on re-inventing their approach towards crypto holdings and transactions of US citizens! Their tax laws are definitely harsher compared to many other countries, but cryptos were never illegal in US. It is just finding its way into mainstream economy now and hence you can see increasing number of activities around cryptos in US in recent times! The fact is that, cryptos are getting recognized more and more every single day, around the world and definitely in US. |
|
|
|
|
@Money Bhai,
Blockchain training is not really related to cryptos. It is related to blockchain only which doesn't have any relation with cryptos. Cryptos are just one of the use cases of blockchain. Apart from crypto, blockchain can be used in many other domain. So don't mix these two things!
It's really great to know that crypto related FIRs are really less in numbers. But it doesn't really gives us confidence about the future of cryptos in India. The current Indian government is regressive in nature and you can only expect bad news about it.
|
|
|
|
UNICEF's thinking about cryptocurrencies like bitcoin and ether appears to be expanding a little bit. Instead of selling bitcoins and other cryptocurrencies they receive as contributions, Henrietta Fore and UNICEF announced that the organization will now receive donations in cryptocurrencies. The vision is to redistribute it to help open up open-source technology projects. “This is a new and exciting venture for UNICEF,” said Henrietta Fore, UNICEF Executive Director. “If digital economies and currencies have the potential to shape the lives of coming generations, it is important that we explore the opportunities they offer. That’s why the creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work." Read more and source ---> https://www.thegivingblock.com/post/cryptocurrency-donations-henrietta-fore-unicef-crypto-fundIt's a pretty old news. I don't know why thegivingblock decided to post it now but it was first posted in the month of October this year. Read below, https://www.news18.com/news/tech/unicef-launches-cryptocurrency-fund-will-accept-donations-through-bitcoin-and-ether-2340347.htmlHowever, nothing has been materialized yet and they still don't have any option available for crypto donations. But yes, it will be great for bitcoin's reputation to be associated with a great name like Unicef. We certainly need such support because crypto market is currently facing a lot of reputational challenges due to so many scams involving cryptos. |
|
|
|
The gold will crash and Bitcoin will be backing Up USA dollars so USA dollar will be tokenized and each USA dollar will be backed by bitcoins.
The Bitcoin was made to be new age gold so Bitcoin never meant to be money!
Its Coming 2020 and yes that will be happening
Buddy can you tell me the address of the weed store that you regularly visit? I have couple of friends who smoke weed and I would recommend that store to them. It seems to be very high quality one as it has transported you to a very different planet. If Gold crashes, the world economy will be shattered. Bitcoin can't save it! |
|
|
|
Recently see YouTube has started deleting all cryptocurrency related videos that many people shocked to see.
There should be a platform like YouTube where users can add their videos and share it with low to high quality.
PS Moderator: Its not low quality post.
There are hell lot of platforms for uploading such videos. Youtube is indeed deleting crypto related contents but the crypto content creators can move to other platforms. See the list below, 1. Dailymotion - no specific requirement for demonetization. Just upload and you are good to go 2. Metacafe - Not popular like others but can be explored as an option 3. Twitch - Even though twitch is mainly built for live streaming but can also be used for crypto content So, as you can see, it's a lost opportunity for Youtube and possibly a gain for others. Nothing can stop us! |
|
|
|
I agree to this point! The size of crypto community is too small to have an impact on the economy or even to the government, and that's good! Till the time this current regressive government doesn't bother about it, we are good! The moment they start thinking about it, we can only expect negative things!
I guess that when they have started diverging everyone's mind from the main topics like inflation and rapes to things like CAA and NCR, I think they have become so overactive that I believe the next number is going to be crypto's. They have been absorbing every single citizen of India and want us all to work like their slaves (yeah, fuck freedom, fuck Independence) and so, if some day they come up with a "perfect" law according to their mentality, to stop crypto, they'll do anything to mess up with our lives and not let us do what we want to do. This is why, rich gets richer and poor gets poorer in our country. Btw, Merry Christmas to everyone and a bump to this thread and the board too while I want to say - " ITNA SANNATA KYUN HAI, BHAI?" I feel only they will target on cryptos to make things diverted from current issues like CAB and NCR when crypto community is huge enough to make the things go viral or else they will look for something else so as far now crypto community in India is safer hope it will continue until 2024. I doubt! Crypto community in India has not yet became so big which can be used to divert from the nationwide issues like NRC! In these issues like CAA and NRC, billions of people are affected, especially the Muslim community who are the primary target of such discriminatory act! We are only safer, till the time crypto matter stays as a lowest priority issues in the government's list of agenda! I don't really expect anything positive from this current government leveraging through divide and rule politics! |
|
|
|
Of course, India has a lot of resource specially in Information Technology and there are a lot of good programmers there. But the problem is that the government is trying to be aggressive against crypto.
So I wouldn't be surprised that they will enforce a full blanket ban (I hope not), but looking at how the central bank of India stance, maybe just maybe they will hinder the development of crypto in the country.
Hi, YieldWallet founder here. we're hoping it does not come to that (blanket ban), but we're prepared to deal with that eventuality by moving jurisdictions, pushing the technology envelope with DEXes, permissionless tech (Staking, Atomic swaps and so on). -- Gautam Hi Gautam, The article posted in the thread, has nothing to do with India specifically. Can you please let us know what do you mean by delegation? India's crypto scene has definitely evolved to a much advanced state, but the government is pushing us backward. The blanket ban issued by RBI is still in force! So what exactly you are proposing? If crypto is eventually banned by supreme court, how do you propose to use the banking channel? |
|
|
|
|
That's a temporary effect! Youtube is probably going out of the crypto game and hence started removing crypto related videos and channels. However, in today's world Youtube is probably the most famous platform but certainly not the only video platform. All these channels will eventually be available in Dailymotion very soon! There arr other options available like Vimeo, Twitch, metacafe etc. One lost opportunity to Youtube, may provide big growth to these alternatives video streaming platforms!
|
|
|
|
|
It's really unfortunate! I personally learned crypto trading techniques frkm YouTube itself. I believe, Youtube is trying to keep themselves clean from any controversial matters. YouTube has been used extensively to promote ICO and token offerings and if you look at the trend from 2017, you will see 99% of such offerings are scam! Billion of dollars have been siphoned out by these scammers in these three years!
But there must be something big going on at their end which we are not aware about or we are not able to understand yet.
|
|
|
|
Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.
Ponzi scams with the volume of plustoken or onecoin, are capable enough to temporarily impact the price of bitcoin or any other crypto assets for real! Plustoken has siphoned out around 2 billion dollars woth crypto assets and onecoin is estimated at 4 billion dollars! With this kind of volume in hand, if they start selling their assets in the open market, it will certainly flood the market where the demand remains constant! So the price will certainly come down for a specific time. So definitely a temporary effect will be seen! Having said that, such effects are very unlikely to last longer! |
|
|
|
|
HSBC has no choice but to comply with what China government wants! Freezing an account of a consumer is not a decision what banks love to take! Because they can't use that fund but still have to maintain an account number in their books. That's a loss for the banks.
I believe HSBC is just trying to balance out things for themselves and hence they are forced to freeze accounts of the protesters in the name of illegal usage of banking channel. HSBC is trying not to make the Dragon angry!
This is one of such scenarios where we understand the need of cryptos in naked eye!
|
|
|
|
If ETH 2.0 get postponed again i won't like it at all, many like myself are waiting and i belief that the Prove of Stake will make ETH have better value, we will see many whales buying and holding to get rewards
Any big change takes time! Moving a billion dollar valued coin into a different algorithm requires a great amount of effort and a lot of technical expertise. ETH will eventually move to POS but it is just taking its own sweet time. Big whales as well as commkn people like us, are already buying it so that they can earn passive income from staking. The demand of ETH is only going to increase and not decrease post movement to POS. For me, it is definitely a sleeping giant right at this moment! |
|
|
|
At present time in the crypto space. Yes there are more and more projects coming up every day. New coins and tokens. What would you rather see more of this time that be more useful to you?
Coin or a Utility token that can be earned by doing something else?
Why do you think a Coin is what you want to see?
Or Why would you want to see more Token projects?
or why you would not want to see either of both
Tell us your reasons why. this be neat
This discussion should be part of altcoin discussions. Frankly speaking, I wouldn't diversify my portfolio into any new tokens or coins rather than few big names like bitcoin, Eth, Litecoin, EOS etc. No matter how good the project looks like! Can you please give me a list of 5 utility tokens that are successful till date? All of them are just vanishing out within few days/weeks of launching! It doesn't make sense to invest in utility tokens any more! That market is dead! |
|
|
|
Its surprising & funny to see how a simple query related to Bitcoin banning & corruption turned to Modi bashing and cow  When a party have made themselves a laughing stock in front of the educated mass of India - this is what happens! Since, its crypto forum, we tend to take ourselves too seriously and think bitocin/crypto is playing a large part when the reality is, it is far from anyone's mind whether government or general public. Government is least concerned about crypto - its just too small a thing to think about. In a country of the size of India, I feel there won't be more than 500,000 people who really understand crypto or actively trade/invest in it. When this is the scenario, I don't think there is not much correlation between corruption and banning bitcoin in India. There are much more bigger things/activities which leads to increase in corruption.
But as someone mentioned here, I agree the banking ban has lead to decrease in bitcoin/crypto trading in India. You just cannot compare it to P2P trading. I would appreciate if someone can share data how much difference it has made.
I agree to this point! The size of crypto community is too small to have an impact on the economy or even to the government, and that's good! Till the time this current regressive government doesn't bother about it, we are good! The moment they start thinking about it, we can only expect negative things! |
|
|
|
Banks are in no way fearing bitcoin and other cryptocurrency. It's a thought that exists in crypto community only. XRP is not a CC but a centralized digital currency. Banks along with other financial institutes will never adopt decentralized cryptocurrency like bitcoin rather they will only adopt currencies like xrp.
Banks are indeed fearing cryptos. There are many countries where bitcoin doesn't have a legal framework, but the banks have banned them. They are literally freezing accounts of crypto traders. If they aren't bothered about cryptos, why would they do that? Cryptos are essentially seen as a business threat by the banks! But after 11 years of existence, probably some banks re fed up with the battle and trying to adopt it! Given a chance, banking lobby would be the frontrunner in opposing crypto adoption! Banks and governments are banning crypto because they dont like it and that doesn't mean they have fear of cryptocurrency. Governments have also banned drugs and weapons , is it also due to fear? Cryptocurrency adoption rate is very slow and there are not much areas where you can use bitcoin. We have to wait and see how cryptocurrency show up in fear years before making any conclusion. Please don't take fear in literal meaning. Here it means risk, in financial terminology! Guns and drugs are also banned for similar reason - risk! Banks can see risks in cryptos and that's why they are willing to ban it. I agree that crypto adoption rate is slow in majority of the countries! However, it is very easy for people to convert their cryptos in fiat whenever needed and then they can use it anywhere they want! So it's not a conclusion of any sort but the reality! I hope you got my point! |
|
|
|
|
Show Posts
