That's no imagination but a harsh reality to India as well! Recently an old bank known as "PMC Bank" failed due to corrupted lending and high percentage of NPA. The central bank immediately banned the people from withdrawing their deposits and given them a daily limit. My housing society is one of the victims and they are still hoping to withdraw their deposits.


Correct! But that is far from being a reality! We can only realize the true potential of cryptos knly if it is accepted by the stores of our country. If you don't have any way to use cryptos in your country to buy goods and services, the only way left is to trade cryptos for cash and then use it! But I understand and support your point! It is becoming more valid during the current economic slowdown.

Controllable Anonymity??

Lol! It's an oxymoron! A fairytale!

I just read Kakmakr's explanation! Chinese government is really funny! If that is what meant by controllable anonymity, what is the difference of it compared to traditional banking system? Just a digital wallet connected to a database to make things more clear to the government?

It would definitely be beneficial if China decides to uplift the ban on mining! That will be a real progress of cryptocurrency then. Otherwise rest all are just government thingy! More transparent vigilance!

I think you are talking about Patientory, which emerged in 2017 in this same field of patient's data! I believe there were two other projects with the same intention but I forgot their names! One of the projects were even promoted by John Mcafee. But none of these projects survived for even a year!

Now frankly tell me, will you buy a webspace by paying through tokens to store your medical data on a third party company server just for the sake of maintaining a record? You probably already have files placed at your wardrobe with the physical medical data stored in it that you had provided to your medical insurance company for claiming the amount? Isn't it? Speak to your insurance company and see if they are willing to accept digital records for claims settlement. I am sure, you would hear "NO"!

These kind of initiatives wouldn't survive if patients have to pay money to store the data. Instead, global medicine conglomerates and medical insurance companies have to come forward to create a global infrastructure where the data can flow freely whenever authenticated by the owner of the data! Without involving these parties, such kind of initiative will not survive in today's world!

That's a positive news most certainly! It will help to boost adoption at large scale! But the interesting thing to see now is, how they deal with the regulatory challenges in this process? I am sure a lot of challenges will be thrown to Binance by the country specific regulatory bodies and it will be a big task for the Binance legal team to set the things in right direction!

Second issue they will encounter is the money laundering from international bodies like FATF. Binance's internal processes should be robust enough to capture and flag any such attempt! Interesting learning curve is ahead for people like me who keeps a keen eye on regulatory matters!

Do you think these are the major issues due to which bitcoin adoption is not growing? Then start rethinking! You didn't ask about the most important question!

Bitcoin's adoption majorly depends on its legitimacy. If you go to Japan, you will see bitcoin is being accepted almost everywhere! Even an employee can take salaries in bitcoin! Now if you visit India, you will hardly see anyone talking about bitcoin because it's still not legal there! Do you think those above questions even stand valid here?

It's the regulation and legitimacy of bitcoin that slumps the growth of bitcoin adoption! Technical things will obviously be there but can be addressed later!

No country can take financial decisions that may impact the entire world. Money laundering and terrorism  financing are indeed heinous crimes that need to he stopped at any cost! No matter how Malta wants to have a friendly attitude towards crypto, they have to comply at some level because of FATF which takes care of such issues worldwide!

But that's good I believe! Because if cryptos are used by criminals worldwide, that reputation loss for cryptos itself! As a crypto enthusiast, we must condemn any illegal activities that involves cryptos. So the monitoring activity is indeed needed to curb illegal usage! Malta is still a heaven with tighter security norms!

I have reported this thread to move to altcoin discussions because it's nowhere related to bitcoin.

I see Darker45 has given a detailed answer to this leaving no points untouched. I will summarize the issues as per my observation.

I see the root cause of the issue is due to the terrible loss of credibility. ICOs have become an wild playground of HYIP scammers! Literally we can hire a designer and pay that person few hundred dollars to create a stunning website for me to start an ICO business. We even have php scripts available for just $49 to manage the background of it which takes care of token issuance.

So every single person reading this post, can create an ICO website and start accepting investments. The result has been disastrous as an immediate effect. And we are seeing few to fewer projects coming up nowadays! Majority of them have taken IEO route which is another scam in the making!

$69 yearly subscription fees seems reasonable! If I comapre it to their competitors, netflix costs more as it starts from $9 monthly and goes up to $16 monthly. But the business here is not about the payment method, it's about the content!

I personally don't think that adding crypto will do any additional benefit to them! But yes, it will boost the reputation of cryptocurrencies if Disney choose to add one! So in a way, cryptos will get more visibility to the world population if Disney starts to accept them! On the other hand, Disney can expect to get few more subscribers, but it won't certainly explode their business!

No one is going to pay free ETH to ETH holders. It's ATH and not ETH. Don't get confused! It's a classic example of forking and similar incidents happened to bitcoin many times already! No ine is stealing anyone's personal data here! They are just going to replicate the account addresses and its balances to a new chain which is already available for publick viewing in ETH blockchain!

Don't mix up two things! I am glad that Indian Coffee board has taken great step to bring blockchain to real world use, but it has no relation with crypto adoption! Look at your below comment,


Indian government was always bullish about blockchain. They have even hosted a blockchain based fintech seminar earlier to explore the opportunities. But they were never favorable towards cryptos. They even forced Zebpay out of the country!

I will certainly love to see India adopting cryptos for greater good! But that's not going to happen as it seems!

What makes you say that?

I am a fan of bitcoin! Yes, some altcoins like ETH or Dash are also good but they couldn't reach the height that bitcoin has reached so far! The idea of blockchain was first implemented in bitcoin. Then the developers from around the world starter creating their own cryptos by tweaking the original idea of blockchain and bitcoin!

Libra is not a cryptocurrency! They are backed by fiat and doesn't offer privacy similar to any other cryptos! Libra is not even in the same league as cryptos!

I am quite surprised to see that the printing company is asking for written permission to use bitcoin logo. Bitcoin logo actually comes under creative commons license and no one owns them! This matter was also discussed earlier as well. See the thread below,

https://bitcointalk.org/index.php?topic=2664830.0

You can also get some information from the below article,

https://en.cryptonomist.ch/2018/11/18/are-cryptocurrency-logos-protected-by-copyright/amp/

Yes, because bitcoin market is a speculator's heaven! However, if you have seen the past trends, you must have noticed that whenever we enter bull's regime, the number of transactions increase. Because speculators rush to book their profit rather than using it as a payment for goods and services!


Practically resonates the same speculative behavior! If I am optimistic about bitcoin will touch 12k USD next month, why would I spend it to buy groceries? Rather I will hold it for now so that I can fetch the profit in near future!

I don't see such kind of behavioral trend as an issue because speculation is what keeping this market alive and dynamic. But we will definitely see more use of bitcoin as a payment method only if the price stabilizes!

Your statement is partially true! Conversion of bitcoin is one of the major utilizations of bitcoin. Because for every conversation, there is a buyer who is buying that bitcoin and paying in fiat to the seller! So conversation is very much important for crypto economy and that's the single most important transaction method where bitcoin doesn't have any other use!

People are not underutilizing bitcoin willingly! Rather, they don't have nuch choice to spend their bitcoins! Like if I want to buy an Iphone and the shop owner is not accepting bitcoin, what choice do I have other than converting it to fiat? People here have nothing to do with underutlization. They are lacking options to spend!

I thought Canada is not friendly with cryptos! Even in Wikipedia, it shows that Canadian banking ban for crypto related businesses is still in force! It's a bit skeptical to know that Canada has given license to operate a stable coin business!

I tried to search them through Google but it is redirecting me to Carbon USD website which is an US based company. Can anyone guve me the correct link of their website?

I wouldn't disagree! Because it is indeed true that majority of the altcoins don't solve any real world issues and we don't simply need them. We don't really need a separate crypto for booking movie tickets and another one to book flight tickets! All can be done through one crypto.

However, speculation is churning a big volume for majority of the alts. If by any chance, 99% of cryptos go to zero, it's hughky unlikely Ripple will survive!

This auto trading feature is not something new. A lot of stock brokers offer such rule based auto ttader in stock market. This exchabge is probably the first one to offer in crypto market. It's definitely beneficial because it works based on few set of rules. Let me give you an example,

You set a rule to buy bitcoin when the price comes down to $8800 and funded your account accordingly. So the autotrader will obey the rule. Now you can set another rule to sell off your bitcoins once the market price goes up to $9500. Similarly auto trader will execute the order. This actually eliminates the need of continuously looking at the charts and provides user convenience!

It's definitely beneficial only if you know how to use it!

The concerns that have been raised by these people, is not the concern for US only! Considering the borderless nature of bitcoin or any other cryptocurrency, only one country can't deal with such issues! The world needs to come together under one umbrella framework to deal with such issues and a global regulatory body needs to be formed in order to mitigate such risks! US is just trying to become the front runner in these issues just like everything else, to maintain its supremacy!

Banking ban is still in force mate! So in a way, bitcoin or another crypto trading is banned in India! But does that mean, people have stopped using that? Not at all, p2p tradings are ongoing in full force and people are making good amount of profit from it. So alternative method is already there! In the meantime, Indian government is loosing on taxes and job opportunities big time!

No legality can stop bitcoin and its trading. If method A is banned, people will be using method B! There's always a contingency plan available in the world of blockchain!

So I understand that members of the network will pay a monthly fees to create a pool of funds which can be used for credits and earn interest income! That's exactly how cooperative credit societies work in my country. Especially in those areas where banking service has not yet reached! Apart from credit, what other businesses you are proposing to make profit for the group?

I understand the investment decision will be made through voting system but who will control the collected funds?