I don't see any news about what's happening in Venezuela right now.The mainstream media is so focused on the coronavirus pandemic.Will Venezuela ever going to stabilize and get rid of the socialists?Will Nicolas Maduro resign?Why the Venezuelan socialists are still getting strong support despite the economic crisis and hyperinflation? It's good to know that Bitcoin helps people in need,but it seems to me that this will be temporary.When the economy of Venezuela recovers and the hyperinflation is gone,more people will return to using fiat currency in their daily life.
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The "golden billion" living in the richest countries of the world is already wasting plenty of food.Maybe the reduced agricultural production will simply lower the amounts of food that is thrown away. I highly doubt that famine will reach the developed countries.The main problem will still be in the underdeveloped countries of the third world. Climate change can't be reversed so we will have to adapt,in order to survive. The Apocalypse is coming so we all just have to buy Bitcoins and HODL!
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I know they are both based on fiat values, and governments are trying to reduce the use of cash, but many people seem to be withdrawing large amounts of cash at the moment. Obviously they are expecting difficulties with the use of banking accounts in the future. I suspect that they are expecting a financial reset, as governments try to replace the current virtual currency with a pseudo-crypto currency. Cash may become important in the transition period.
Bitcoin and alternative crypto currencies do provide alternatives,but they may continue to be slow in adoption. Cash has been trusted for many years despite the fact that it is a depreciating asset, and I believe that it will continue to be used after the change from the current banking system. Obviously banks will resist this, and any cash deposits will be withdrawn to reduce the supply. This could lead to an increase in the value of cash based on the current fiat currency, always providing that the public continues to use it of course.
There's no evidence that governments are trying to replace virtual currencies with cryptocurrencies.Central bank digital currencies (CBDCs)are still in project phase in some countries. Do you have any evidence that "many people are withdrawing large amounts of cash at the moment" or you are talking about gossips and rumors?I don't want to discuss gossips,rumors and conspiracy theories. $1 in cash and $1 in a bank deposit are exactly the same fiat currency.The only difference is that the bank owls you the $1 in your bank deposit.
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Bitcoin has already made significant ground on gold — going from whitepaper to over $200 billion in market capitalization in under a decade. Today, the market capitalization of above ground gold is conservatively $9 trillion. If we are right about using a gold framework to value bitcoin, and bitcoin continues on this path, then the bull case scenario for bitcoin is that it is undervalued by a multiple of 45. Said differently, the price of bitcoin could appreciate 45x from where it is today, which means we could see a price of $500,000 U.S. dollars per bitcoin.
Why is he so sure that Bitcoin will "continue to this path"?What if something happens and Bitcoin doesn't continue to this path?A better altcoin gets invented,a mass government ban hits the Bitcoin industry,a natural disaster destroys the human civilization.He makes the same mistake every trader is making.Trying the predict the price by looking at the past performance of Bitcoin.The fact that Bitcoin grew from 0 to 200 billion in 10 years doesn't mean that Bitcoin will grow from 200 billion to 10 trillion in the next 10 years.
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I can understand that stolen BTC could be "tagged" fairly easily (at least until mixed?), but who does that? Who has that authority? Nobody(except the authorities) has the authority to claim what BTC are "dirty".In reality,companies like Coinbase can abuse their users by claiming that clean Bitcoins are dirty and blocking their accounts for no reason(which is illegal and Coinbase must be sued). Mixers might not provide protection,since most mixers might get banned after a few years,since they are used for mostly illegal activities.Getting "dirty darkweb bitcoins" thru a BTC mixer can be considered money laundering and sooner or later,the authorities will ban mixers...
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Bitcoin whipsawed on Thursday after the Federal Reserve’s chairman signaled tolerance for high inflation, as expected. The leading cryptocurrency jumped from $11,400 to $11,594 in 20 minutes to 09:30 a.m. ET only to give up gains in the next few minutes. At press time, bitcoin is trading near $11,380, down nearly 1% on the day, according to CoinDesk's Bitcoin Price Index. The dollar index, which tracks the value of the greenback against majors, also faded the drop to 92.50 and now trades near 93.30. The negative correlation between the dollar and bitcoin has strengthened over the past few weeks. Federal Reserve Chairman Jerome Powell, while speaking at central bank's annual Jackson Hole event, said that the central bank will now be willing to allow inflation to run higher than the 2% target before raising interest rates. Reference- https://www.coindesk.com/bitcoin-pops-and-drops-after-powell-introduces-average-inflation-targeting Such a small Bitcoin price fall can't be explained only with the statement made by Jerome Powell.This might be the usual price volatility on the crypto market and Bitcoin might never reacted to the FED chairman statement. Now the Bitcoin price is around 11,570 USD.Do you have any weird explanation why the price recovered from 11,400 to 11,570 USD? This looks to me like another pointless clickbait article.
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After the pandemic,Bitcoin will perform the same way it was performing during the past few years. Why do some people expect that we will wake up in a brand new world after the pandemic ends?Nothing will change.The US dollar is suffering now,but it will remain the strongest fiat currency in the world.No central bank in the world will dare to replace USD with BTC. The image of Bitcoin isn't "getting stronger by the minute",because I don't see any mass BTC adoption happening right now.No big corporation is currently adopting BTC payments and I don't see millions of people opening BTC wallets and buying Bitcoins.
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The theory that "working-from-home" has the same productivity compared with working in the office seems like a myth to me.There's no valid evidence for such thing. Imagine having a family and kids and trying to work from home.The distractions are just too many. 90% of the jobs can't become remote,so the benefits of remote work are exaggerated.Also,there are some flaws,which have to be further examined.You don't socialize enough with people(I mean directly,not online chatting and emails),when you are working from home.Sitting in front of a PC for many hours every day is not healthy. Remote work means freelance,so you might have to compete with freelancers from India and Pakistan,who are willing to work remotely for $1 per hour,so your employer might cut your salary and make more profits,which actually means MORE inequality than before.
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this is really sad because bitcoin is not an asset nor a hedge. it is a currency and even though currencies could also be used as both but the primary identifier remains the same. nowadays i see more and more people refer to bitcoin as an asset which i guess is the result of bitcoin price always rising. So, gold is a good hedge, because it never crashed hard during the global market downtrends, and it reacted predictably to them.
that's just the market size difference. in a much bigger market with packed orderbooks which is also controlled by centralization and even government it is a lot harder to see huge volatility such as sudden crashes than it is to see the same in a decentralized small market with tiny orderbooks. Every currency is an asset as well.Gold used to be a currency in the previous centuries,now it's an asset only. Anyway,thinking that an extremely risky asset like Bitcoin can be used as a hedge investment means that the global financial markets are heading towards insanity. Market supply is more important than the market size,when it comes to price stability.There are rumors that the US federal reserve is manipulating the gold market.Maybe that's why the gold price is so stable.
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When you are writing about 210M Kg gold on the planet,do you mean that all that gold is already mined,or a big part of that gold is in the mountains(might never be mined)? Also,when you are writing about 2,100,000,000,000,000 satoshis,do you realize that: 1.A part of the satoshis is out of circulation and lost forever? 2.A part of them isn't mined yet. I know you want to prove a point that Bitcoin is more scarce than gold,but your calculations seems partially wrong.
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The fact that CEOs are getting "golden parachute" bonuses seems unfair for the people,but that there's a more "economic" explanation.Good CEOs and managers are a "scarce resource",that's why the big corporations are paying millions of dollars to their managers.It takes a lot of skills and energy to run a multi-million dollar corporation,make profits and keep the shareholders happy.Not everyone can do this effectively. It's all about supply and demand. Football players like Mesi and Ronaldo get paid millions of euro just to kick a ball.Is this fair? It's all about having scarce skills+the super limited supply and insane demand for those skills on the market. This crisis has nothing to do with the 2008 crisis.The banks and big companies aren't guilty for the corona-recession.That's why the mainstream media isn't focusing that much on the "golden parachute" bonuses.
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Satoshi Nakamoto has done a great job in bitcoin invention, his idea is what many of us are celebrating and enjoying today and we are grateful to have such a great idea, we have all believed that by the decentralized nature of bitcoin, it should be unstoppable by any government,even by Japan where Satoshi was claimed to be a citizen. Now that his idea has been propelled far and wide, do you think he has the capacity to stop it again?
Do you think that Satoshi Nakamoto is the "owner" of Bitcoin? Do you really understand the term "decentralized"?Bitcoin is decentralized,which means that no single person(even Satoshi Nakamoto himself) can change the blockchain without the support of the majority of Bitcoin miners and users.Consensus is need,in order to fork the BTC blockchain. If the real Satoshi appears out of the shadows,he will have to prove his identity in a way that leaves no doubt,that he is the one and only creator of Bitcoin. By the way,I don't remember Satoshi ever claiming to be a Japanese citizen.
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So if we change the system that money will be not Born from the debt? What will be other way then? And how it will be controlled how much money is given away to people to use it.
This Question is specially for those who is against this debt based economy?
The other way is Bitcoin(the future) and gold(the past). Back in the past,when gold was actual money,precious metals like gold and silver had to be mined,which means that certain resources had to be invested in order to "produce money".Bitcoin works the same way,you have to invest resources(capital,labor,electricity)in order to mine Bitcoins.You give value to get value. With paper fiat money,you don't give value to get value.They are just printed,and you have to trust the government and pretend that those debt money have value.
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If the US government is filing this in the court, I have every reason to believe they already have a way to gain control of these funds because it just does not make any sense to go through this stress and still be bothered about how to ensure control. From the look of it, they only need the legal backing to ensure their actions are not declared ultra vires and its a good one because its shows an organisation willing to follow due process. The narration of North Korea is just to further establish the hostility between the nations and not that they are expecting compliance from that part of the world.
Such court cases will take years before the final verdict and I don't believe that the funds will be recovered. The US government has enough resources and clerks in order to "go through this stress" and investigate such complex theft.The main goal of this case isn't recovery of funds.The main goal is to stop the hackers that are backed by North Korea from stealing more coins out of South Korean crypto exhcanges. I don't believe that the US government has suddenly become crypto friendly.This case is more about politics and international affairs,rather than cryptocurrency related stuff.
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I still believe authorities are forever on the look on who the real Satoshi Nakamoto is, his invention is taking the world by storm and government consider his invention a threat to the present system, they will keep looking at him, that includes the 1 million Satoshis in his wallet the media wants him, they want to know more about his invention and about his personality which was left hanging when he left the community. 1.His invention is NOT "taking the world by storm".Not even close.10 years after the birth of Bitcoin,only a few million people out of 7+ billion are using BTC. 2.Governments don't consider his invention a threat to the fiat system.If they were considering BTC as threat,I'm pretty sure that Bitcoin would have been totally banned by all countries long ago. Anyway,this forum thread is nonsense."New information" about Satoshi that's is actually a 2014 article.
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Jerome Powell is the chairman of FED.Talking positive BS and being optimistic about the US economy is his main job.If he says something negative or pessimistic about the US economy,Wall Street will go red again. Trump will lose the elections for sure.It doesn't matter what Jerome Powell says.Thinking that the FED chairman will somehow boost Trump's popularity is pretty naive.
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Are you talking about learning the basics of Bitcoin or you are talking about learning cryptocurrency trading? The basics of Bitcoin can be learned in one day.Is it so difficult to create and use a Bitcoin wallet? Is it necessary for a total newbie to know all the tech stuff about hashrate,mining,nodes,how the blockchain works,etc. from day one?I don't think so.Anyone can learn how to send and receive BTC in minutes. Crypto trading is a completely different topic and every trader has to learn thru practice for years.
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He is partially right about the future of the US dollar and oil.However,I can't agree with his 500K USD Bitcoin price prediction.The moment Bitcoin becomes really bullish,all the crypto traders,investors and risk seekers will jump on the altcoin wagon,instead of buying and HODLing Bitcoins. When the Bitcoin price explodes to the moon,all the government officials and central bankers will start with the "Bitcoin is a bubble,do not buy!" type of FUD,which will eventually stop the bullish trend. Those two factors make me believe that Bitcoin will never reach 500K USD and it doesn't matter how weak is the US dollar and how obsolete oil will be after 20 years.
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I think that you should not promote this article and this website. The post-pandemic era will not benefit or damage the crypto industry.Is the current pandemic benefiting or damaging the crypto industry?No.Did the pandemic somehow forced mass cryptocurrency adoption?I don't think so. Then why should we assume that the post-pandemic era will bring any benefits to the crypto industry? I believe that without the pandemic,the bitcoin price would still be somewhere around 11K USD.This is a clear sign that Bitcoin adoption isn't happening at the speed and scale that we are expecting. Thinking that coronavirus will force all the people to adopt and use Bitcoin/crypto is simply naive and kinda stupid.
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Should we even care about this Twitter drama.Those "Bitcoin maximalists" can promote whatever shitcoin they want.This will most likely damage their credibility among their followers,but that's their own mistake and responsibility.Greed will ruin their life(and the life of all of us).I assume that they were paid(or bribed) to promote this token.I don't know how desperate for money they are,but this will ruin their social media presence.Anyway,that's not my problem.I don't use Twitter and I never will.
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