Bank is not care how much money you deposit in your account and they will glad if you received much money and deposit to your account, they don't care with your money from bitcoin because they only get benefit if you have and save much money in the bank they can use your benefit for loan your money to the other member, maybe you want to get chance with bank to ask you where is from deposit moeny in your bank. Exactly, they care a lot if you are withdrawing your fund to them, I remembered one time when I want to cash out my money, but they even interview me and asking what is the reason, they even offered me money for me not to withdraw my fund, I don't have much money of it, but maybe it's a question for them when someone closed their account. [/quote] Banks have "trigger amounts". So if people are suddenly depositing large amounts, but they don't normally do this, their algorithms flag it. Go with small amounts (less than $1000) and withdraw slowly over time. |
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Facebook wants to build their own crypto empire no chance that they will adopt Bitcoin, for over 10 years existence of Bitcoin they already knew the potential of cryptocurrency. For big a company like Facebook I think they are willing to take risk and compete with existing industries no matter what cost.
This. Also - I wonder if there is still a rivalry between Zuckerberg and the Winklevoss twins. Zukerberg stole their social media idea. Now he seems miffed they got into bitcoin at $8 a coin, and wants to kill their project with a coin of his own. |
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There is not enough liquidity on the exchanges. Not enough existing sell and buy orders. So when someone places a big market order (either a buy or a sell) it burns through the existing orders.
I think exchanges should employ professional market makers to stabalise things. At present they offer a maker-taker discount if you place limit orders in advance across all buy and sell points, but not many investors want to tie up their coins on the exchanges like that.
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I am living in a developing country (India) and here the inflation rate is very low (3%). 5-6 years ago, it was going at 13-14%, but the new government managed to bring down the inflation rate by quite a bit. Now some of the analysts are even complaining that the low inflation rate is not good for the economy and this is one of the reasons behind the economic slowdown.
Well done for getting inflation down! As for the slowdown - there is a global slowdown in place at the moment due to the trade war. The trade war won't end soon, so countries need to find other sources of revenue (domestic spending) to compensate. |
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Has it been announced officially that the digital currency that will be released by Chinese central bank will be a cryptocurrency? Or is it merely an insinuation since China is positive about blockchain? I'll like to see a link to this news if it's legit. Nevertheless, even if it's crypto, definitely it's going to be a stable coin pegged to their FIAT currency and also highly centralized for easy tracking on how citizens spend their funds.
The only thing I could find is the follows: https://cointelegraph.com/news/china-warns-against-cryptocurrency-speculation-amid-blockchain-hypeAs Reuters reported on Oct. 29 quoting local news outlet the People’s Daily, Beijing’s previously-announced support for blockchain should not be read as support for crypto.
The People’s Daily is a publication under the direct control of the ruling political power, the Communist Party of China.
“Blockchain’s future is here but we must remain rational,” it wrote. The publication continued:
“The rise of blockchain technology was accompanied by that of cryptocurrencies, but innovation in blockchain technology does not mean we should speculate in virtual currencies.”
The veiled warning comes days after Chinese president, Xi Jinping, publicly pledged to make the country the world’s number one blockchain environment in a speech.
His words came along with China signing a new so-called “crypto law” governing various aspects of blockchain technology, to enter into force in January. No idea what they mean by "the world's number one blockchain environment". It could be that they allow developers to code, that they allow mining, or that they are issuing their own coin. We won't know for sure till January and the legislation is introduced. |
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I'm not sure that bitcoin or any other crypto needs people to force adoption or anything else upon it. It works as a currency when people want to use it as such--except that not all merchants accept it--and it works very well as an investment. If it catches on as a form of money, that's fine with me but I don't think it needs that for its survival. Just my opinion.
If you look back to 2009 when Satoshi launched bitcoin - it was when the bank bailouts were happening. And governments bailed out the banks primarily because they acted as payment processors. There was the nightmare scenario where banks collapsed and shut their doors and people's wages couldn't get to them and retailers couldn't pay their suppliers and so on. Because the payment system would have disappeared. If cryptocurrency doesn't develop a payment network then we are no further. In the next crisis govts will be forced to bailout the banks AGAIN, because there is no alternative network up and running. But that alternative network could be cryptocurrency - and if it is widely used, then banks can be allowed to collapse. |
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Bitcoin and cryptocurrency in general will only advance if people actually use it for more than speculation.
In the past we've seen lots of retailers enabling bitcoin and other cryptocurrencies in their checkouts, and then been disappointed that hardly anyone has used the function. And we have had some orgs like Steam disabling bitcoin and giving up on it.
So how many people on here have actually used cryptocurrency in real life?
I'll start: I haven't used bitcoin (because I consider that savings), but I have used dogecoin to buy gift cards and bitcoincash (BCH) to deposit to a betting website via BitPay.
Anyone else want to share their experiences?
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Bitmain (the backers behind BCHABC) have fired one of their co-founders: https://www.bloomberg.com/news/articles/2019-10-29/top-bitcoin-miner-engulfed-in-power-clash-as-co-founder-oustedBitmain Technologies Ltd.’s billionaire founder Wu Jihan announced Tuesday the resignation of his co-founder, a surprise ouster that appeared to resolve a struggle for control of the world’s largest crypto-mining startup.
Micree Zhan Ketuan, who started Bitmain with Wu six years ago, no longer holds any position at the Beijing-based company effective immediately, Wu said in an internal memo obtained by Bloomberg News. The crypto-entrepreneur warned employees against taking further instructions from Zhan or attending any meetings he convenes, threatening staff with dismissal or criminal charges. Nishant Sharma, a company spokesman, declined to comment on the memo.
Tuesday’s surprise memo is sure to stoke more questions around the world’s largest producer of crypto mining rigs, which Bloomberg News reported had previously failed to pursue a Hong Kong listing of as much as $3 billion.
Bitmain, which was valued at about $15 billion in a private funding round last year, continues to grapple with an uncertain home regulatory environment even as its fortunes wax and wane along with the price of Bitcoin. It’s also said to have considered a U.S. debut, long before rival Canaan Inc. filed for its own U.S. initial public offering.
Wu and Zhan hold 21% and 37% of the company, respectively, according to Bitmain’s IPO prospectus for Hong Kong. Wu was Bitmain’s business head, an avid supporter of digital tokens like Bitcoin Cash. Zhan, on the other hand, led the company’s chip designing team and its foray into artificial intelligence chip-making. This year, Wu founded a crypto financial services startup called Matrixport. He recently took over Zhan as the legal representative of Bitmain’s Beijing entity, according to public company registration information. Hopefully Zhan won't be selling his BCH... |
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Governments will get into creating their own cryptocurrency, and few countries have already implemented the same. Private firms are getting into creation of their own cryptocurrency and blockchain for private needs. Already few Institutional financial service renders have tokenised their services. Succeeding by defeating bitcoin and other leading cryptocurrencies is really hard to achieve.
Venezuela's private coin - the Petro, has gone nowhere (and the fools who invested in it have lost money). The thing that underpins all currencies, whether fiat or cryptocurrency, is trust. Do you trust the governments issuing the coins, do you trust the companies issuing the coins. |
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i just guessing, the hype of 2017 alt will never come again since there are roughly 90% of ico coin is just fail
It depends on the hype in the mainstream press. In 2017 what happened was as bitcoin got more and more expensive, newbies to the crypto scene thought, "Why not buy an alt instead, they're cheaper and they too might make a new high". That sentiment was what lifted alts in 2017. Whether they are more savvy this time round remains to be seen. |
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Institutions are unsentimental. Yes they have a lot of money and can move the price upwards. But they are unlikely to be hodlers. If they need to liquidate and bitcoin is the easiest thing to sell, they'll sell. They also won't be shy about taking profits if bitcoin makes a big move upwards.
So it's a double-edged sword.
IMO bitcoin would be safer if loads of little people bought into it.
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National sovereignty is one of the main reasons why a single global Crypto currency would fail. Everyone is talking about Bitcoin conquering the world and having a single reserve currency, but that is just a pipe dream in my opinion. You cannot have a single reserve currency and have 200 smaller nations bad economic decisions pulling down the stronger nations, making the good decisions. I see a future where every sovereign country would have it's own government backed Crypto currency or Blockchain based technology.  This is exactly the problem with the eurozone. They're squabbling about who is pulling down whom, and there is very little trust between them. And to share a currency you need a lot of trust. |
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Now that Chinese Government is boldly showing their development in issuing the world’s first state-backed digital currency, will other countries follow the same path? What could be its implications to Bitcoin and cryptocurrencies?
The Bank of England has also been testing a digital pound. The real question is: will people use these coins? Or will they stick to either Visa/Mastercard movement of fiat, or existing cryptocurrencies. |
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If gold loses 85% of its value in 12 months, then it will be no longer considered as a store of value.
I'm not sure if you have followed gold's performance throughout the last years, but it had a terrible crash from $1.9k back to $1k, where today the price of gold is hovering around the $1.5k mark. If you put the gold and Bitcoin charts side by side, you'll see how similar the price activity actually is.... the important difference is that cycles within Bitcoin play out much faster than they do within the gold market. I don't know when gold will take out its $1.9k high.... its recent price surge was due to economical turmoil, which means that when the situation calms down again, gold will be sold off hard. If you look at the charts going further back, gold also had a collapse in the 1990's: https://www.thebalance.com/gold-price-history-3305646By 1980, traders had bid the price of gold to $594.92 as a hedge against double-digit inflation. The Fed ended inflation with double-digit interest rates but caused a recession. Gold dropped to $410 per ounce and remained in that general trading range until 1996 when it dropped to $288 per ounce in response to steady economic growth. Given that house prices are about 10 times what they were in 1980, then gold really hasn't kept it's value compared to 1980. |
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It looks like more and more outlets are accepting bitcoin: https://cointelegraph.com/news/where-to-spend-bitcoin-a-global-overview-from-ljubljana-to-zurichAs of late October 2019, 15,558 business venues worldwide were accepting Bitcoin (BTC) as a method of payment, up 18% from a year earlier, according to Coinmap.org. The problem is, unless bitcoiners actually use bitcoin to spend in these places, they'll just disable the payment function. It's very much use it or lose it - but this community is more focused on speculation than on making it profitable for retailers to accept payment with bitcoin. |
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The US yield curve is no longer inverted - which means that the prospects of a recession in the US at least are receding. And the Fed will be careful to try to prevent a recession in election year (2020).
Of course it is possible to have a recession in other parts of the world without it affecting the Americans. I think all American recessions have been caused by internal problems rather than external ones.
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One thing that is common in many countries of Africa is for there to be mobile money usage. the largest mobile digital payments transfer market in the world is based in East Africa (Mainly between Kenya, Tanzania and Uganda). So cashing out Bitcoin via a person-to-person trade using LocalBitcoins because fairly easy, and with reputation and user history, safe to use. Mobile money allows account-to-account transfers, where you only need to know the phone number of the recipient to be able to transfer to them money.
With Bitcoin the people of Africa can become their own bank where they do not need to queue to withdraw their money. with Bitcoin Africans can make their purchase from anywhere in the world where Bitcoin is accepted. Also those in Africa who have families abroad can send them money within minutes. The transaction fee is very low compared to those incurred using traditional fiat currency.
MPesa only happened because the telecoms regulators in Kenya gave the green light. Once they gave permission, the mobile phone networks quickly developed the MPesa network and it works smoothly without the govt having to intervene. So open-minded governments are the key. |
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This is what we are waiting for, the big boys are now recognizing and trying to get into the blockchain technology revolution and this is a good news for the end and for the start of next year because we can expect that there will be more blockchain technology related projects that are created by the chinese government since they are now a fan of this kind of technology.
But be careful because with this development it seems that the big boys are only interested about the blockchain technology and that in the process, they might simply dump at the sidewalk the existing cryptocurrencies including the top Bitcoin and Ethereum. This announcement implies that they will utilize it for many reasons and one of these reasons is of course the creation of their very own cryptocurrency or digital renminbi which is nothing but an improved version of fiat, but still fiat. This. It's all about sidelining the independent cryptocurrencies like bitcoin, ethereum etc and replacing it with something only the govt can develop and mine (and thus is controlled by the govt). |
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Using crypto for purchases shouldn't affect any country's tax revenue as long as a payment processor is used which converts the crypto to fiat. The consumer still has to pay the sales tax (if any), while the business will still have to pay the revenue tax as usual. If businesses were accepting crypto outright, things *might* be different, but I've heard that most tax evasion is done by businesses skimming off the top...and that's without using cryptocurrency at all.
I really don't think it would affect the overall economy either way if people started using bitcoin for things. It probably would affect bitcoin itself, but the economy? I doubt it.
Most cryptocurrencies have a public ledger, so easy to track income and thus tax liabilities. Where cryptocurrency might help an economy is in the situation where the banking system is broken. Cryptocurrency at least lets commerce continue unscathed if the banks are in trouble. |
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The thing that kills most projects is developers cashing out too quickly. If developers don't have enough faith to hold the coins, why should anyone else hold them (or buy them)?
If you look at the coins that have lasted - bitcoin, litecoin, ethereum, the lead developers didn't cash out till the five year mark. I think the Litecoin founder cashed out in 2017, which was about five years after the project launched. Cashing out within a year kills the project.
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