I believe that JPMorgan is only offering their blockchain services to their corporate clients, no wonder that this giant company is under their fence. This company is really much more focus about their companies welfare and could bring crypto adoption to different institutions and large businesses.
That reminds me a lot when their CEO if i'm not mistaken saying cryptocurrency is a fault although there are no news about JP Morgan developing cryptos but a blockchain system when JPMorgan's name mentioned in any news relating to blockchain that thing just always cross my mind. I'm pretty sure that company like JPMorgan just after the profit and not really trying to bring crypto adoption, people are just expecting too much from such company. It's always like that since ancient time and this token launching on their blockchain I guess is purely for profit.
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I can’t wait for the moment when state structures and various corporations working with data start using blockchain in their work. This will be especially useful for countries with a high level of corruption, where officials steal money from ordinary people on a massive scale. Blockchain can solve this problem and deprive thieves of their feeders, which in turn should free up a significant amount of capital that will give the economy a boost.
Why do you know corporations and governments don't work with blockchain systems? Many sources have reported that this blockchain system may work in some transparency but it is too difficult to manage and fix, besides, many other technologies allow governments and corporations to better handle their data, that is why blockchain does not appear more in the fields. Activating the economy is only ideal for those who hold bitcoins and prefer to make rumors about blockchain technology to enhance the value of bitcoin, actual efficiency is very poor Kind of agree, blockchain doesn't really suit well if it's used for government. Its decentralized nature is quite the opposite to what these so called government expect. They want to keep in hand of your data while blockchain won't allow that. Sometimes centralized system is also important and for this case government will need such a thing to be able to control their economy. Blockchain is not a magical things that could turn a wrecked economy into something massive just because it is implemented. quite opposite if some cryptos are taking over a country economy that means the economy will crumble because the money is escaping from there.
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The fees climbing up when the network is crowded is like the nature of blockchain and if Libra is about to use blockchain aswell they will definitely face the same problem. it is not like paypal that is a centralized company basically all the transaction doesn't need hash power and no need confirmation aswell blockchain is different to that and I think that's what you lose when you are expecting something decentralized. Crypto is indeed quite behind in term of remmitances but there are plenty of cryptos out there that can be used for remmitances and still fast anyway. About Libra, it's not even released yet so we can only wait.
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There is no certainty when investing in the cryptocurrency market, we can only reduce the risk to the lowest possible level. I always check everything about a project before deciding to invest. Development team, roadmap, technology of coins, community.
The certainty usually comes after the funding phase ended and at that time you will know the true intention of every developers out there. Always check whether they are following the roadmap and try to deliver what they have promised since early days when they are about to start the funding whether it is through ICO or IEO regardless if the intention of developers are good they will definitely try to get in touch to the community as much as he can while also clarifying some of the question presented by the community. Otherwise a coin with garbage team usually left or give no response after the funding phase ended because they are showing their true color. However those criteria above could be invalidated only if the coin is performing very well. Otherwise that'd be such a disaster for the side of investors if the coin fail or even worse gets delisted after few moments.
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Performing a personal research on projects and their token sales whether IEO, ICO or STO is the smartest way to be on the safer side in ones cryptocurrency investment career. Because there are no fixed bodies to run checks on IEOs to identify the fake ones for investors, investors are entreated to do their own research before investing.
Everything we have to be able to research further if we don't want to get a big loss from cryptocurrency because right now many IEO's are in fact factualized, there are also many cases that trap investors so that many also suffer losses due to IEO which turned out to be a project fiction. this should be everyone's concern in choosing it Yes, more than where these IEOs are being launched or offered. Many of these IEOs, even those that are launched and offered in big and trusted exchanges are still scams or traps to just victimize the investors. Research is the main thing that IEO investors should be doing and focusing more. The exchanges where IEOs are offered and launched are not truthful, honest, and legit seals. They don't guarantee anything. Can't say all some of the IEO that are hosted by those popular exchanges as a trap or even worse a scam. Some of them indeed making people dissapointed by not achieveing the expected result or in other word it is underpeforming but atleast they still delivers what they promised even though sometimes it took so many times to get done, I'm not trying to justify all those IEO though if they fail then they fail but most of the IEO that are hosted by third rate exchange that are uknown even by some crypto seniors usually turns out as a scam and make an exit scam while pretending that they are running out of funds, the question is if they really running out of funds are their roadmap and planning is somehow broken from the start. If I could take that into conclusion that means the developers is incapable of executing the project even if the money given were enormous.
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Many people don’t make judgment by understanding, they make judgments based on what they see. Everyone is not careful, they just try to spend their money on shit projects most of the time and in the end, fall victims of these and then complaint.
Definitely, even some are thinking that a crypto is legit just because the developers say so while the return that is promised is just simply too dreamy. Some people are just really bad at judging project making these scam garbage project always appear to target them. maybe that kind of people should just back out from investing or even from any kind of investment program because they are easy target for scamming so that there won't any complaint anymore regarding crypto. when those people are complaining it will also add a negative perception toward crypto even though all that responsible of that problem is the project that he just invested and got scammed on.
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When PayPal left the project, it wasn’t worrying, now it’s clearly visible how the rats flee from the sinking ship. Regulators took the crypto sphere very seriously. I don’t even know what Facebook needs to be done in order to regain its influence, although Zuckerberg probably has a backup plan, and I hope Pavel Durov also has it.
Even backup plan can't save Libra from losing the money that actually should be there if the parnet didnt decide to back out from investing into Libra due to the regulation backlash. I think libra is just too premature and they really need to settle the regulation first before ven releasing it to the public. it seems that Facebook is not really anticipating all these problems back then when they first announcing Libra to be released on public.
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i think this libra will continues with or without any partners, because facebook already become a huge company my friend Huge company doesn't mean they can just continue like that, a stable coin usually need a huge funding to reserve and if facebook is about to do that themselves I don't think the coin will be as big as if the partner is still willingly to invest into this coin. The news about all these partners dropping out or withdrawing themselves from the project itself is already a huge bad news for the future of the project and you can still think about how the loss of money will definitely affect the project.
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We have a saying in our language. It is "if there is a smoke, there has to be a fire. Since China is trying to ban-crack down bitcoin, this means that there are people in their countr who want to have bitcoin. This is a good sign for us in terms of mass adoption. People in China are trying to have some freedom. For bitcoin, through its system, it can't be fully banned. China can't ban buying people bitcoin. So, nothing to worry for their actions.
How it is a good sign if the government itself want to ban bitcoin or trying to forbid the citizens from using bitcoin even if people there want to use bitcoin which means adoption but if they don't have a way to buy one that means the adoption is as good as nothing. a country like china is always expected to ban everything that didn't align to their political agenda and bitcoin could potentially threatening their economy by making the money coming out from china and furthermore it is decentralized which no government have a control over it. It is indeed such a waste of potential considering that china is a big country and the people there I'm pretty sure is interested on using bitcoin, some major miners back then coming from china if im not mistaken.
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Well back in July the US Congress asked Facebook to pause it's development of Libra until they had time to access it's impact: https://www.theguardian.com/technology/2019/jul/03/libra-us-congress-asks-facebook-pause-development-cryptocurrencyIn a letter from the Democratic head of the house committee on financial services, congresswoman Maxine Waters, and the heads of its subcommittees, the legislators ask the company to “immediately cease implementation plans”.
“Because Facebook is already in the hands of over a quarter of the world’s population, it is imperative that Facebook and its partners immediately cease implementation plans until regulators and Congress have an opportunity to examine these issues and take action,” the letter says.
“During this moratorium, we intend to hold public hearings on the risks and benefits of cryptocurrency-based activities and explore legislative solutions. Failure to cease implementation before we can do so risks a new Swiss-based financial system that is too big to fail.” Do we have an update on this investigation, it seems Libra coin is now ok with the congress and no part of the group is leaving the group, and the launching is already scheduled to launch this 2020, I'm sure their lawyers are doing everything, to lobby for the launching of LibraCoin but I'm afraid after the launching, Libra Coin will be heavily regulated and all actions will be watch. Being heavily monitored is definitely the fate of this Libra coin this coin is released by a big company and such a thing is really to be expected. But, it seems that Libra coin is far from the release. If this coin could released maybe it will make cryptocurrencies amainstream among the citizens but it's quite the opposite, facebook itself seem having a serious regulation backlash if facebook can't get trough the court libra will surely become just a dream.
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All of them have their own advantages and setbacks, but I prefer IEO, it is better than both ICO and STO. It is more secure. According to experts from IBCGroup, IEO is a preferred method for the majority of investors.
Why is it preferred? Because IEO is safer than other options such as ICO and STO. So anyway, IEO is definitely liked by many Investors. Actually the ICO method is good too, but unfortunately this method is used by many irresponsible people, because that is the emergence of IEO. Many people prefer this method when they want to invest. To be more accurate, IEO exist simply because people are tired of getting scammed through unreliable ICO therefore an exchange sees the opportunity of providing IEO (basically ICO with few extra safety steps) and make some profit. If it's to be compared IEO will always be superior it have the liquidation, listed immediately after the funding is done and have been verified its legalities by the exchange. It's such a no brainer that if IEO could best ICO simply because it's an upgraded version of ICO and STO is not that different from ICO anyway but atleast it's kinda a little better than ICO in my honest opinion.
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Why should bitcoin got increased its price in the first place if it's only an exchange got their license approved in a certain country. some of US citizens as I know have been using bitcoin since long ago and there's no banning just stricter rules that not any exchange without license could get the userbase from there it's a country with big and strong economy after all. Although it's a good news but I guess it's just an ordinary news because there are some exchanges that has already legally registered in the US not a surprise here. However, having an additional option is always welcomed.
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Majority of the crypto projects nowadays require KYC maybe because they are self regulating or their jurisdiction require them to conduct such thing. In exchanges it is mandatory to comply with Anti Money Laundering Council. Our personal data is so important and we should protect it all cost but sometimes we don't have a choice but to comply with those company who needs our informations specially exchanges, but we must make or limit the informations that we give.
Exactly, they require kyc to prevent the project to be included in the law of some countries where they prevent their local individual to invest from crypto, crypto projects might face some circumstances if they let anyone from those countries to become part of investment. Aside from those reason, it is not all the time that requiring kyc should be passed, most of them are scam and they might sell our private information, its better to avoid those projects. We should just obey rules of every exchange or regulations of every county, if they require it , then let it be. I know that one of the purpose of crypto is to be anonymous, but there is nothing we can do if our government requires it, for sure this is for the benefit of all of us. Instead of focusing on KYC conflicts, let us just focus how can crypto adapt in every county, how we can develop more. Some people are having self conflict against KYC is simply because they are afraid of their ID being leaked when there is a security breach and that's totally understandable. You only have one ID and if that's leaked that could potentially ruined your life forever, not being paranoid but that's the reality. However if we can't do against it since it's the rules or regulation released by the government atleast the government should provide a reliable third party for KYC verification so that people will stop worrying about their ID being sold in the deepweb. Even a simple data like a chat conversation could get facebook into the court so why wouldn't this kind of risky verification?
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I can't count how many time I submit KYC for trading exchange market and many airdrop, bounty and ICO investment. I don't know about my KYC data is safe or not because I have submit with thousand kind of project real or not for keep our identity and never give our ID for something else to other people and other company.
It is your responsibility to double check all the information of a project or an exchange before your submit any of your documentation about your identity. Submitting a KYC documents is easy and fast but you should also consider the risk of submitting your identity information to someone so I hope that this will served as a lesson for you to double check all the background information before trusting them with your personal information. The more he submit his KYC verification to all those websites the bigger the chance his data is leaked somewhere else in the internet. Maybe submitting data to an exchange that is already regulation under the government is safe more specifically if the exchange has never done anything wrong with their business but submitting kyc for an airdrop I mean for real? even the developer themselves are looking to make an easy money through airdrop there's a really huge chance that they are doing the aidrop just to gather data as much as they can and sell it off in the darknet. People just really need to be aware, their data is as valuable as gold nowaday.
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Can we get detailed information about this? I'm intrigued by why does a Government no less would do such a thing to its citizens(?) Oh I'll take a guess, "Communism"(?)
Take a look at the regulations recently issued by the Hong Kong government regarding protesters https://www.theguardian.com/world/2019/oct/07/hong-kong-protests-charges-anti-face-mask-lawsfask mask ban! can you believe it? I think the Hong Kong government is doing various ways to stop this wave of protests. but that step didn't seem to work, the wave of protests grew more bigger! Well you can't extinguish a fire by adding some more fuel it's as expected if the government is more harsh to the protesters it will definitely grew bigger. Rich people want to launder their honestly earned money with the help of bitcoins, this is expected. It is bad of course that everything is not calm between them, I hope everything will calm down without the use of excessive aggression. Nevertheless, we have nothing to do with it, except following the news.
I've heard some of hongkong's rich people also leaving the country to migrate into some of europe country by investing there and get some kind of permanent residence but I guess bitcoin is also one of the option when it comes to saving money. i can personally justify it if the danger of chaotic economy is near.
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For me the lack of working product would be the first and only sign of a fraud project. Such times have passed when a project could scam people with a good whitepaper and original website. Investors are getting smarter.
as I know project trying to gather the funds using ICO is to realize or make an execution to their idea and thus resulting in a working product, maybe some of the projects out there are already having a working product even before the ICO being announced but it's still not right to judge a project as a fraud just because of not having a working product while the sole purpose of creating an ICO is to gather fund. Maybe it's better to judge them by whether they are following their roadmap or not, although there are some other factors aswell.
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What practical use gold have.Gold input cost more than input of bitcoin You can"t forget that there is blockchain behind bitcoin .Disruptive technology what will be used by Microsoft even We have more and more services what allow to pay with bitcoin And Bitcoin is only 10 years old.Where was internet after first 10 years If Bitcoin can hurt economy then what kind of economy it is.
Actually bitcoin will hurt the economy, in terms of not recorded spending and actually no tax at all. Bitcoin will delete the middle man which is the banks and government, so yeah, the bitcoin will hurt the economy but it will let people be free in tax that is given to the government. Let's just face it, bitcoin have pros and cons. Government can do something about that tax because just like in the US, their government request the cryptocurrency investors and traders to file their tax in cryptocurrency and I think if the other countries can also do that then bitcoin and any other cryptocurrency will not hurt their economy and in fact, it will help them to boost their overall economy. even if I don't spend money with bitcoin I could still avoid taxes you know when we are reporting or filing our tax we are just being asked about how much money we get and therefore the obligation to pay certain amount of money for taxes will be given to you but the government doesn't really know how much we get aren't they? it's all the self consciousness of the people again. Even if I could avoid taxes but I never would because I just want to contribute to the country by paying taxes and there's nothing wrong with that. Even many countries right now already trying to implement a new way of taxation for people using crypto while also already concluding bitcoin as one of taxes object.
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Mark Zuckerberg was called for questioning just recently as well, which means even USA is against Libra and it is something that could be used to bring cash from other countries to USA considering Facebook is an american company, so them profiting globally would equal to global profits going inside USA and even with that fact USA still doesn't want something unregulated and uncontrollable to be used in USA.
So, all in all Europe is against Libra, USA is against Libra, China is against Libra. There is no point on keep working on Libra if you ask me, these guys will not be able to go over the legal parts of financial world let alone be used by everyone around the world, I doubt they will continue with the project, closing shop on Libra project is their best course of action.
Also usually third world countries tend to follow the decision of first world countries and that could mean even more problem will be coming to Libra. Even by the withdrawal of all the major investors from Libra could be a huge backlash that could potentially cancel this project. I'm not expecting anything from this project anyway, it won't even benefit the crypto community even at the slightest but just the hype that could make crypto well known other than that there's literally nothing and also it's centralized. Maybe making crypto that is adopted by the masses is just simply a wishful thinking considering all these regulation even a big company like facebook could literally do nothing.
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OMG. When do these people understand the risks of holding the crypto holdings in the crypto exchanges? The news services and crypto forums are full of security fraud complaints due to the tricky social media engineering, hack events by the scammers-hackers. The struggles are real and purchasing the hardware wallet is a feasible solution, in this case, the scammers know how to take the money out of people's pockets.
Purchasing a hardware wallet is not really a feasible solution if you got a limited money otherwise it's still worth it but it seems that people will never stop putting their money in the exchange for a long time because they think this is the most convenient way to save the money while in reality it's the best way to lose your money when the security breach happens. All the news about exchange being hacked and can't provide reimbursement seems have gone to nothing because people are just too ignorant and careless to realize that it's their money that is at stake.
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KYC become your big mistake if using on bad exchange market website or your joining on bad airdrop but submit your KYC data, if you use for big and good exchange like binance to increase your limit withdrawal is fine for using your KYC data, but when you found airdrop and sumbit KYC with lower reward its your big mistake.
Even big exchanges like binance, I would still not submit any personal information of mine, KYC is still KYC, I don't trust other people no matter how much billions they have on their wallet when it comes to my identity. The reasons why we don't trust someone that easy is because: * We don't know them* We know themWhat scares me the most is that they are rich people, they have many underlings that serves to them, you won't know where they are really going to use their customers data by submitting KYC, you could call me paranoid, but I only trust myself. Definitely understandable and not refusing to submit your ID is your right aswell. Data is now the new gold and so many people or companies are trying to gather as much data as they can and your govt ID, passports and many more is as equal. However if it's a big exchange like binance i can somehow tolerate. However if it is an unknown company that demands my ID I will definitely not give it out because that's just too dangerous. as I've seen so many company that are based on technology always got some sort of data leak and that's really a huge loss for the customers even my data was once leaked over darknet. If there's an option not to submit, I will definitely not submit my ID carelessly.
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