There was a lot of talk about recession in the last days and the media responded with analytics that shows that the US economy is still growing. For example in their output, employment rate and so on..
the stock market is stable for now but what do you think? Is it worth it to invest in big tech firms now or should we wait a year for a possible slump if recession really hit?
A story always has two sides. US mainstream media is showing only one side of it. If you want to know the other side of the story, you need to look at 4 major economic indicators namely, 1. GDP 2. Consumer price index 3. Employment indicators 4. Manufacturing index etc. While the GDP is doing just fine as of now, look at the manufacturing index in the below link, https://www.bloomberg.com/amp/news/articles/2019-06-03/u-s-manufacturing-index-dips-to-lowest-level-in-almost-a-decadeEmployment index is also showing good growth and unemployment is decreasing slowly but steadily. See below link, https://tradingeconomics.com/united-states/unemployment-rateConsumer price index is recording double digit numbers and beating inflation means, the purchasing power of USD is on a decline. See the link below, https://tradingeconomics.com/united-states/consumer-price-index-cpiConclusion: I am not an expert in economics but it is certain that the current status is not really showing a great picture. No one knows if we will see another depression but it is better to refrain from making big investments in US market. Personal tip: Data will become the biggest commodity in next 5-10 years of time. Invest in such companies who controlls data of the masses. That may be beneficial for the future! |
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Whatever CNBC said on various occasions, are speculation only and speculation can't be termed as NEWS per say! News have a different meaning and purpose! See below examples,
A country legalizes or bans bitcoin - is a news!
Bitcoin will soon reach 15k - is a speculation and an attempt to grab mass attention!
If someone is betting on such speculations, only God can help him!
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I am little confused.. . I have already a bank account/debit card with paypal account. So can anyone please, explain me the benefits of bicoin wallet something else.. .. As I am newbie I am little confused.. .. !! !!
Hi Harpreet, I presume you are from India. If yes, then you must know that you are not allowed to keep funds in your paypal account. Every 24 hours paypal runs automated payment and whatever the amount you have received on the previous day, will be transferred to your linked bank account after deducting the suitable charges. Also paypal is obliged to report all transactions to the tax authorities so your every move with paypal is being watched by the tax authorities of India. That's not the case with bitcoin and Omegastarscream has already given a detailed explanation why! Easy peasy japAnese! |
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How long can fiat currency last?
The average life expectancy for a fiat currency is 27 years, with the shortest life span being one month.
There has been a total of 9432 fiat`s, only 192 remain.
All fiats return to there initial value = 0.
How do we measure bitcoin in time?
basewage per hour or min wage per hour, divided by current fiat price of bitcoin.
amount of duration to solve blocks x amount of power used.
So if you want your bitcoins to become the medium of exchange we need to start using it as one.
You can calculate bitcoin for anything under the sun. Be it time, be it power or be it labor force or whatever! But it makes no sense at all unless cryptos have its own purchasing power. We are measuring the value of cryptos against fiat to measure its purchasing power and nothing else! Fiat currency has purchasing power and we can actually use fiat currency to purchase goods and services around the world. Can we use crypto for the same purpose worldwide?? Only a handful of merchants accepts crypto and we can't really rely on crypto for our day to day functioning! What best we can do is to convert the cryptos into fiat and use that fiat to purchase whatever we want and that's the only reason we value cryptos in fiat currency! |
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So,
now that we have Facebook with Libra, China, India, JpMorgan... a lot more big names creating the own crypto coin/token -
This will be a super mesh for banks and regulators, What are you guys thoughts and visions about this??
Enjoy the show!
Bank controlled coins will not become a traditional cryptocurrency in any way because of their centralized structure. Those will be just another virtual representation of what we already have, fiat currencies! Just the way we carry wallets, will be changed to a handheld device like smartphones! Only Libra is trying to build something different but again it will be strictly centralized and facebook will have to comply with various regulatory rules and regulations. There will be huge competition in the virtual currencies market in coming future because even countries are planning to offer digital coins. This space will become super messy because of all these and eventually they will have to come under a global regulation. Because without global regulation, it is impossible to maintain the risks below the belt. But firstly don't get excited about the big names creating cryptos because no coins will give you the power like bitcoin does in its decentralized operating structure. |
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Taking out bank deposits and hold it via cryptos can not solve such a big problem like this! But yes, it can probably leave some dent on their liquidity but nothing else! The root of the Hong Kong issue goes much deeper in their socio-economic structure! The population of Hong Kong is just 7.3 million and the population of mainland China is 1.38 billion. So even if every single citizen takes out their deposits from Chinese banks, it won't do much bad for them, just a temporary liquidity crisis may arise!
The Chinese government is creating such kind of problems since a long time with Hong Kong, Taiwan, Tibet as well as with India! A global decree should be implemented by United Nations which will effectively ban every Chinese nationals from travelling and doing business in foreign land. Also boycotting Chinese products will have severe impact on China's economy. Only then China will face the heat and probably re-think their aggressive stance on their greed of foreign land. Running on banks will have small/no impact in the entire issue!
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I was away in Dubai for work while my family were staying back home in my home country. They were 100% dependent on me for food and sustenance. Allowing the BTC to sit in my wallet while my family suffers was not an option. So, I decided to sell and solve my immediate problem to feed and cater for them. Did I make the wrong or right decision? You have taken the absolute right decision at the right time! Family comes first and nothing comes in between for a mere percentage of monetary gain! I have seen a lot of new generation people don't give a damn about their families. They even call their father "the old man"! I am glad that you are able to support your family when they need it. Never think of anything else or regret for what you have done. A good deed is worth more than some money and you have done just the same! Have you ever sold your BTC at low rate and it later bumped and you were regretting...? If you remember why we celebrate "bitcoin pizza day" then you will understand the true meaning of regretting. But there's another part of the story, https://www.finder.com.au/bitcoin-pizza-guy-i-regret-nothing-also-satoshi-was-a-weirdoThis man could have earned 800 million USD for the cost of two pizzas that he spent in Papa John's restaurant! I sold a lot of bitcoins at $3000 to sustain my families but I don't regret because the time demanded me to take that action! There's no point regretting about it! |
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Is it a good idea? Absolutely not! There are services that will allow you to do it but it's a bad investment decision. Taking out loan to buy volatile investment like crypto tokens is not wise! In my country, credit card companies take 48% annual interest on the pending amount so you can understand how risky it is! The mature way to invest in crypto tokens is to start a SIP (Systematic Investment Plan) where you invest a specific amount every month from your earnings! This way you can average out the buying price as well as keep the risk below the belt! |
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Bitcoin transactions were declared illegal by Bangladesh Bank in 2014. According to them, "The transactions in these currencies are not authorized by the Bangladesh Bank or any other regulatory body, so the use of these virtual currencies is not supported by the Foreign Exchange Control Act, 1947; Anti-Terrorism Act, 2009 and Money Laundering Prevention Act, 2012".
It's an old fact. Bangladesh even arrested two students for dealing in cryptos. But what do you want to establish now? |
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I had actually installed plus token wallet back in May this year after knowing their dividend sharing model and looking at the increase in price. It was giving me a scammy feeling from the beginning so I posted a thread in this forum seeking the advice from the members on 14 May. But surprisingly no one bothered to reply so I dropped the plan of investing their minimum amount, $500. Thank God that I did not invest a dime and uninstalled the app.
Anyway, I think this is a temporary phase in the market. Price is decreasing because of higher supply but that is not going to last forever. I don't think it will be able to create a permanent dent in the market because demand is robust. If you have seen the trend, its very clear that the price is not just falling, it is also increasing to some extent before falling again. So if you stay put at this time and try to score some bitcoins below 10k price, it's going to be beneficial.
But such kind of incidents are actually reminding us the requirement of a strict regulatory policy at international level. Scams are on the rise and without a strict global norm, such incidents will occur again and the scammers will get away it!
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I was thinking that investors would think the cryptocurrency market as an alternative to traditional investment products.
Having said that, my point was that those two markets have a reverse impact.
If the stock market goes down, then investors would start searching for alternative (more profitable) investments and turn to Bitcoin and cryptocurrencies.
The last days stock market crash seems that lead the market cap of the crypto market down.
Does the Stock Market has impact over the Bitcoin price?
It's true that people will be start looking for alternatives if a traditional stock market goes down, but they are mostly unlikely to come to crypto market. The reason is simple, when an investor looks for capital protection, they would look for a safer avenue of investment and cryptos are not considered safer by many because of its volatile nature! So an investors will turn to precious metal market and the trend is evident! I already posted a chart in another thread which is given below,  The trend is pretty clear as you can see the gold price is steadily increasing due to the slowdown in the traditional stock market. These investments are least likely to flow to crypto market in any way! |
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Re: The first country in the world. Officially salary in cryptocurrency!
No! Check your facts before becoming excited about anything. Japan is officially the first country to offer salaries in cryptos and that happened quite a few years back. Initially we thought it will not be a very popular option for the salaried class people. But it seems like pretty successful in Japan. For reference, you can read the below news, https://news.bitcoin.com/japan-labor-ministry-confused-as-crypto-salaries-demand-increased/ Would you like to get paid in cryptocurrency?  It's a very old question and asked many times in this forum. I would not personally prefer to receive my salary in crypto because of undermentioned reasons, 1. Price fluctuations - My salary takes care of my EMIs. So I definitely wouldn't want to risk the value of the salary to be volatile. Salary has to be stable in terms of purchasing power. Crypto posses a major risk in this parameter. 2. Adoption rate - Crypto adoption rate in my country is really low. It will take me ages to find a merchant who is willing to accept crypto for my daily purchases. 3. Fear of hacking - In a centralized banking environment, it is possible to reverse a transaction if anything goes wrong. But absolutely not possible in a crypto environment. Once it is gone, it's gone forever! |
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It's not a new news that bitcoin's price is falling since last 2 days and today it has gone below 10k. Speculators will speculate anything but tell me, is this the first time you are seeing this kind of trend in 2019?? Bitcoin is continuously going beyond 11.5k and coming down to 9k. We have seen such trends quite a few times in this year, especially since last 3 months. See the chart below and look at the highlighted area of head and shoulder's pattern.  I firmly believe, that another similar type of trend is in the making and it will continue for some more time. However, I only agree with only one point from the article of Coindesk as quote below, Two, concentration is a sign of an immature asset class. Imagine an emerging stock market in which one company accounts for 80 percent of the country’s market valuation. A diversified category will be more resilient, flexible and powerful, as internal connections and synergies empower a profitable irrigation of resources. Increasing dominance can lead to utter massacre and there will be no area of recovery if anything wrong happens! Lets just wait and watch but I believe, bitcoin below 9k is still a gift! |
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I once came across an article where it was stated that over 60 percent of most crypto transaction were used for betting. I don't see anything wrong with that. But don't you think it portrays crypto in a bad way?
It entirely depends on your personal teste. If you don't like betting, you won't lkke it and vice versa. However, betting is not really a reason for the bad name cryptos have earned (if any). Whatever the controversies you will see in the market regarding cryptos, mostly comes from its association with dark web, ransonware, money laundering and terrorism financing kind of illegal incidents. I think these incidents are actually harming the reputation of cryptos more than betting. I will make a special mention of ransonware because it literally shook the world in 2017 by launching more than 100 million attacks. One thing was commin in all these attacks, is bitcoin! That was a real bummer. Betting at least provides a way to utilize cryptos. |
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The last bitcoin is expected to be mined in 2139. So our generation is not going to be bothered about the last bitcoin. Now please use a little Google search to know the possible scenarios. The internet is full with similar articles. Let me give you few links to read. Link 1: https://news.bitcoin.com/what-happens-bitcoin-miners-all-coins-mined/Link 2: https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/Now to your specific question, the price is expected to be increased because of its limited supply. Just like oil and gold, if the demand stays same and supply decreases, the price is expected to be increased. The fees is also expected to rise because miners will have to rely solely on mining fees. Many will find this process reward unaffordable and choose to quit. However, this particular area is diecy and no one will surely tell you what's gonna happen. All we can do is speculate! |
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Can i buy 10 Phones an earn instnt from faucet
If i let the phones 24/7 working?
Is this possible or not?
I can buy 10 phones and register at freebitcoin
Make a bot and let the phones make 3k per month?
What you are suggesting is abusing the faucet in a nutshell. But let me ignore that for a second. Firstly tell me, how do you create a bot that solves captcha for you?? Remember, captchas usually become tougher after a specific time period of continuous use. |
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1. What will blockchain look like in 2030?
Majority of the current industrial processes will be moving to private blockchains which will make it more efficient and transparent. Regulatory reporting and compliance will become an easy task for the entrepreneurs. Wealth distribution among masses will become more effective and transparent.
2. What will have failed?
The conventional banking system who are known to have ripped off the commkn mass since decades. A more transparent global banking system will be formed with the help of blockchain.
3. What portion of govs will utilize the blockchain?
In data intensive sectors like land records, tax information, industry production data, population and rehabilitation departments will probably see an overhaul in their operations.
But I don't see much hopes for corrupted countries like N. Korea, India, Pakistan and some other African countries. They will probably reject blockchain and as a result, their financial backbones will become weak and poverty rates will rise.
4. What things do you think will happen that might surprise us?
The probable transformation of quality human life in positive direction.
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Majority of the impact of the negative interest rate will go to precious metals like Gold or silver and not to bitcoin. because precious metals are being used as a tool to safeguard capital since ages and bitcoin just came into the picture just 10-11 years ago. People are not yet accustomed with this high-tech virtual currency. It's easier for them to invest in gold. Obviously we have few handful percentage of population who will prefer cryptos over gold, but they are super minorities! Just see the link below and you will get an understanding that how the gold price in moving up in the international market. https://goldprice.org/gold-price-chart.htmlBitcoin has not yet become a preferred choice of the mass! |
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It has to be a consortium of governments to launch such attacks on bitcoin blockchain as bitcoin is not limited by the physical boundaries. So majority of the governments will have to come forward to execute such well planned attack on the mass and need to work on close conjugation. That's not gonna happen!
Also as Pooya87 correctly pointed out, that gold requires a lot of space and people can't really keep it at their home. But that's not the case with bitcoin. Even a beggar can store millions of bitcoins in a smartphone without letting the authorities know about it.
Your argument is possible theoretically but practical implementation is just not possible at this scale!
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The numbers have sky-rocketed because of some big exchange hacks in 2019. This continues to be a roadblock for the mass crypto adoption because till date, the authorities could not nag-down any of these hackers till date! Then we have mixer websites which are allowing them to safely transfer those bitcoins to the respective addresses to safely launder the money as per the hacker's requirement. Just look at the highlights from the report below, Q2 Highlights
Thieves and scammers stole more than $4.26 billion from cryptocurrency exchanges, investors, and users in the first half of 2019.
Users and investors lost approximately US$2.9 billion as “South Korean” Plus Token app and exchange went offline; Chinese police arrested six Chinese nationals in Vanuatu as the alleged perpetrators.
Hackers used advanced cyberattack to steal $44 million from world’s largest cryptocurrency exchange, Binance.
Update from Canadian court on QuadrigaCX collapse reveals long history of misappropriation of user funds by QuadrigaCX founder.
Japanese exchange BITPoint hacked for $30 million.
BestMixer mixing service seized by law enforcement authorities.
European authorities seized three dark web markets and assets.
CFTC charged Control-Finance in $147M Ponzi scheme.
Facebook shook up crypto economy and woke up policy makers with Libra announcement.
SIM Swapping victim won $75.8 million judgement against hacker.
More sophisticated exchange hacks used advanced simultaneous takeovers of user and admin accounts.
SEC sued Kik over $100 million unregistered ICO.
CipherTrace research shows Bitcoin still dominates payment method in dark markets despite advent of privacy coins.
Hack may have caused Bitcoin flash crash on Kraken.
European authorities made arrests in two major typosquatting scams that cost exchange users tens of millions.
$23 million in Bitcoin lost and co-owner found dead after Polish exchange Bitmarket shutters due to “liquidity issues.
Iran accused US of attempting to block its virgin Bitcoin as means to compensate for financial hit from sanctions.
UN published report on North Korean government hackers stealing $571 million from Asian exchanges to fund WMD and compensate for sanctions. The crypto market is still a jungle! I agree that FATF guidelines are harsh for exchanges to follow, but it would make the entire ecosystem somewhat secure than what we have now! |
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