I don't know if using this wallet require a registration in the binance exchange or anything about its fees or time delay, but all reviews confirm that this wallet is trusted and solid enough. Did anyone try it for swapping ?
It was 'trusted' when it launched and became even more 'trusted' when Binance acquired TrustWallet last year. Nope. No registration required. It's just plug and play so to speak. It works via their dex. Fees for using the application aren't charged, but you do obviously have to pay for the network fees. |
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When an exchange is planning to add all sorts of bells and whistles, it generally means they are trying to compensate for the loss in revenue.
Binance's strongest point has always been plain simple; lots of liquidity and swift support, which they still offer today, but no longer serving us residents is a huge blow, mainly so when they start to boot even the us residents using vpn's off the platform by subjecting every single user to kyc verification. It's going to happen eventually, it's just a matter of time.
Also, the more features you offer as exchange, the lower the quality of your service becomes, and the more problems you and your users run into.
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We all know that there are a lot of Chinese billionaires and I'm sure the bitcoin or at least crypto in general is on their radar to expand their wealth, so this is a win-win situation for the Chinese government, Binance and Chinese people themselves.
I'm pretty sure that if native billionaires in China end up taking a position in Bitcoin, they will do it through the unofficial channels. China has been extremely aggressive towards the wealthy elite when it comes to what assets they buy into, mainly for the purpose of preventing capital flight, which Bitcoin obviously is the perfect tool for. China rather keeps limiting people's freedom and not gain anything financially than to allow decentralized protocols such as Bitcoin to gain ground. |
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they know very well that they cannot cash out their coins without bringing a great deal of attention to themselves and they cannot do it without crashing the market
They can cash out through otc desks, which more exchanges nowadays offer as service. It pretty much means that the exchange connects you to a buyer or seller where the transactions happen outside the regular orderbook. Based on the on-chain value transfers, it's pretty safe to say that the otc volume on a daily basis dwarfs the regular spot trading volume. There also seems to be a strong correlation between the emergence of otc desks and fewer spontaneous large dumps. It's far more rewarding to use an otc desk because you don't suffer from slippage. |
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Locally I'm still way more into regular fiat payments because there aren't many places you can spend Bitcoin, but on the internet 9 out of 10 transactions of mine are in Bitcoin. It's much more convenient and I don't have to worry about shit services such as PayPal to block my account because they request more information.
Another thing I don't have to worry about is people requesting a charge-back. Most financial services always favor the buyer, which means that you as seller can wake up to a notification that x amount has been deducted from your balance to compensate the buyer. That's so fucked. Bitcoin eliminates that shit. You are the full owner of the funds once the transaction has been confirmed.
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It might only be a gold rush to the manufacturers of the Asic hardware themselves because money collected from their IPO will signify expansion of the business hehe.
Don't forget the investors owning the stock. It's something we have seen happen with Gold stocks (stocks of companies mining Gold) as well. It's like a leveraged product tied to the price performance of the asset, which tends to exaggerate moves in both up and down directions. Gold believers tend to allocate most of their capital to Gold stocks, and so does Peter Schiff. Bitmain is super dependent on what Bitcoin's price does, which means that you can expect their stock to react to that quite perfectly on trading days. It will create plenty of new arbitrage opportunities for traders. It might even bring new traders to spot exchanges trying to exploit these arbitrage opportunities, and that translates into more liquidity.  I'm however not sure about Bitmain's coin balance as they are so heavily invested in bcash. It might turn out to work against them yet again. We'll see. |
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2.5% of the retirees intend to get some crypto in the next half year? I find that hard to believe as that generally is the category to not pay much attention to speculative assets such as crypto.
I wonder how they exactly measured that. Probably just another survey with a few hundred participants, and they were probably excited (read, more bullish) due the increase some months ago. I'm quite sure that if the survey was conducted today the results wouldn't be completely different. Common joes like to buy what they see go up, but ignore what goes down.
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the so called whales might have another plans so always think
Short term speaking that might be the case, but if you zoom out and look at the bigger picture, the longer term trend always wins, and in Bitcoin's case that's the development of parabolic cycles. I'm sure that this will continue for at least another decade until we're closing the gap to Gold, which is when the market becomes so big that it will be very hard to move. In the end, there is way more money to make with Bitcoin being long than short. If you short Bitcoin to zero today, you'll make $8700 times the leverage that you used. If you long Bitcoin to $100,000 you'll make $91,300 times the leverage that you used. People have been blaming CME for manipulating the price down, but if CME is really manipulating the market, they are far more incentivized to manipulate it northwards long term speaking. |
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I don't know if this is going to happen in my lifetime, but I agree on his observation that Bitcoin's volatility is now decreasing.
That 'observation' only requires people to think logically. A market that's capturing more value and thus more economical mass, will see its volatility diminish as result. Bitcoin at $400,000 is quite conservative if given enough time. It has never happened that a form of money emerged with Bitcoin's properties. People lose satoshis continuously, which means that there are fewer satoshis circulating every year that goes by. Currently there is more inflation than deflation due to the block rewards, but that will change in the future when block rewards consist solely of transaction fees. Gold on the other hand will continue to be dug up as technology improves and the techniques to mine Gold become more efficient and cheaper. |
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The advantage on using up 3rd party but lets say direct p2p transaction is much preferred then majority would really be keen or would always matter on confirmation time and when the entire network bloats up then this area is really pain in the a** to consider out by majority.
P2P it's indeed always recommended to wait for confirmations but it hasn't ever been much of a problem to me. Is it annoying some times to wait for 30-40 minutes for a block to be found? It surely can be, but that doesn't happen all the time. On top of that, more clients nowadays support RBF, which means that if there is a sudden spike in the number of unconfirmed transactions, you can simply up your transaction fee and save a lot of waiting time. Adoption is on the move but it would be more effective if LN would be fully integrated .
That will take a while because the real boost will come from exchanges to start adopting it, and they will only do it when the protocol has been deemed safe enough. |
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The only problem or issue about Bitcoin is probably the tx speed (lots of end-users don't care about security), and it's only a matter of time before 2nd layer is easy to use for everybody.
The transaction speed has always been near instant. Confirmations can indeed take some time. Technically speaking, everyone is free to accept transactions without confirmations, which is something payment processors such as BitPay do as well if the value isn't too high and the fee included is sufficient. It's obviously not safe to do so, but that convenience is offered to the users. I have never had to wait for a single confirmation for any payment up to $50 through BitPay. Transactions were accepted directly. |
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I don't understand this. Is it that difficult to travel to Uruguay or Chile, and exchange your Argentine Peso banknotes to Bitcoin? I know that is it not viable for small amounts. But in case you are purchasing 1 BTC or higher amounts, then what is the point in paying 20% to 30% extra? BTW, I am not sure about the exchange rates in Uruguay and Chile. I assumed that they'll be near the global rates.
I'm pretty sure that most people buying larger amounts have other routes of acquiring Bitcoin with lesser premiums. On top of that, the liquidity in Chile is quite poor as well, so I'm not sure how much benefit there is in traveling to that country. Uruguay I assume is way worse in terms of liquidity so that's not going to provide any help at all. https://coin.dance/volume/localbitcoins/ARShttps://coin.dance/volume/localbitcoins/CLPBitcoin is so scarce that there just aren't that many coins circulating in that region. It will only become more of a problem as the block halving will soon cut the inflation rate in half, which means that coins become even more scarce and thus more expensive. |
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China is full of shit. They hate freedom. Bitcoin empowers that. Result is China no like Bitcoin. China blackmail Bitcoin. It's not a surprise that they have always had centralized garbage projects up high in their top cryptocurrency rankings list. EOS on the very top of the list, a pile of garbage that has proven to be centralized by reversing transactions of stolen coins. Obviously, it's great that people got their funds back, but that doesn't bode well for anyone seeking absolute censorship resistance. |
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Unless you're using an OTC exchange which can guarantee your privacy, you should assume that your personal data is getting shared.
OTC exchange can mean anything. Nowadays there are plenty of regular crypto exchanges offering OTC services to their wealthier clients. As long as there is a centralized entity between you and the person you are transacting with, there is no such a thing as being guaranteed any level of privacy. I think you are referring to a decentralized exchange? If so, then that's a decent option, but not the best as there is little serious liquidity available which generally leads to massive spreads. I doubt we'll see that change any time soon as people have been begging for decentralized exchanges for years now and there has not been much progress in the liquidity field at all. |
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It's the place to be if you have something to hide.
Doesn't really surprise me when you realize that one of Poloniex's backers is Goldman Sachs. Banksters always know where to go to circumvent laws and obfuscate some of their nefarious activities. I however don't think that Poloniex will stay in Seychelles for long as it has been a trend amongst non compliant exchanges to hop from one tax heaven to another. It won't take long before they run out of exotic countries to settle in. It must be a sensitive spot still for the group of institutions having paid $400 million for an exchange not even worth a tenth of that amount now. Institutions fomo into crypto just as hard as noobies do. That clearly shows. |
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you think that's true? i don't have that much experience to draw on, but teens and twenty-somethings i come across seem pretty into cash app and venmo vs actual cash.
i've been made to feel like a dinosaur more than once for not using them.
I definitely notice that around me, mainly so now that banks are rapidly withdrawing more and more of their atm's. It was always the convenience that people had here knowing that they can withdraw cash from an atm would there be any problems, but that safeguard is being taken away from them. It rightfully worries people as this is a broad problem. No cash means no private transactions when needed and no money to begin with when your digital balance is being frozen for whatever reason. Compared to the majority of the sub 40 age category being fully into plastic and mobile payments it might not look too impressive, but they will eventually pay the price for their ignorance when shit hits the fan. I now make sure to have at least 3 months of cash reserves at home to pay bills and whatnot. Better safe than sorry. |
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I have experienced a couple of drawbacks towards Bitmex when there's a sudden big movement in the market, as the "System Overload" error on their site, which is annoying when you encounter it when you are watching the site/prices.
I doubt it's an actual error. It only happens on Bitmex, the most well funded derivatives exchange in crypto. They can afford to blow $5 million per year on an office but not to invest in their exchange? Makes zero sense. I'm pretty sure that this system overload "error" is being forced upon their traders purposely to front run them and rekt those betting against their trading desk. What I am a fan of are their once a day manual withdrawals because they do not work with hot wallets. This is something I wish more exchanges would do, but they are too busy caring about the opinions of their noobie gamblers who want to cash out immediately. They are also the first to complain when the exchange they use gets hacked.  |
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He guarantees that the BTC cost will be significantly increased in only 10 years.
That's false information from Bobby's side as there are no guarantees in any market. I too strongly believe that the price will be waaaaaay higher in 2029/2030 but can I guarantee that? No. No one can. I rather see him be outspoken about how he contributes to Bitcoin's utility than to call x/y/z price levels to be reached in the future. The more value he adds to Bitcoin's utility the more likely it becomes that the price will go up as there is more value to extract. This is exactly why I like how the developers don't mess around with speculation but purely focus on making Bitcoin better in every possible way. 2020/2021 will be great years for Bitcoin fundamentally as there are plenty of improvements in the pipeline. My personal favorite is Schnorr as it provides on-chain efficiency gains. |
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