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Though some countries are getting attracted to the prospect of issuing their own cryptocurrencies...we have to remember that this can not be done that easily and there will always be repercussions when the government is involved with the whole thing. And even if there will one or two countries that can do it successfully there is no guarantee that the same can be copied elsewhere with the same level of success. Getting into the digital world can be so hard for the government most especially if there is a great amount of corruption, ineffectiveness and ineptness. Bitcoin will still be on the top of the whole game no matter if some are claiming to be much better than Bitcoin...the market is still deciding in favor of Bitcoin.
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Fortunately, we have already heard the stand of these people and the market is not anymore reacting to them negatively. We are already at the phase where for every negative thinker on cryptocurrency there are around 3 or 4 who are appreciating what this new trend can be bringing. While it could not be denied that some players in cryptocurrency are here just for the money and can probably go scam...there are more who are legitimate and are really offering some breathe of fresh air to the market. Just like at the early stage of the internet, there can be some rush and even some confusion but when the dust had settled we know what happened.
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Cryptocurrency is still so young that is why there remains to be a big debate on how to view or treat it from the prospective of the taxman. Of course, the government though reluctant to recognize cryptocurrency they are very much interested to have a slice of the tie by imposing taxes. Eventually, Bitcoin will be treated more as a currency or money more than an asset as adoption will slowly be creeping to the general population...though the road to get there can be rough and there can be some confusion sometimes.
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There is now a revival of the bad war between people in the Bitcoin side and those in the Bitcoin Cash corner. All of these things are not helping as we are promoting the adoption of cryptocurrency by as many people as possible. This is the problem when we let greed and selfishness dominate a young industry such as we are in...some people and players are so willing to destroy what they perceived to be hindrance to the many plans they have in mind. Hopefully, it will be the market that will decide which side should eventually win..though there will always be collateral in any kind of war.
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In my own opinion, there is nothing wrong if Roger Ver is having his own cryptocurrency and is promoting it with all of his vigor and might. What is wrong is that he is trying to destroy Bitcoin so that Bitcoin Cash can be elevated to the same level which Bitcoin is still enjoying. Can he not do his own thing without destroying the thing that he also partly built? The market of cryptocurrency is expanding and there will always be space for a project like Bitcoin Cash so there is no use displaying predatory kind of behavior. The bottomline is that whether we like or not what can happen to Bitcoin will be affecting all of the cryptocurrency market. The more that the guy is displaying his unprofessionalism the more am convinced that he is becoming ungrateful.
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This is the kind of mindset that can make anyone who has the money and the willingness get rich in the cryptocurrency market. While the rest of the world have been panicking in selling their Bitcoin holdings, this guy made the opposite and he was indeed right. The right to buy is when the value is dipping and not when it is reaching the peak which many have been doing so I am not wondering why many got lost their money.
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Seeing the kind of the market dynamics happening right now in South Korea, am not really surprised with this latest development. I am sure that many in the government are now seeing the many advantages and benefits that cryptocurrency including the popular ICO platform can be doing to their domestic economy. And since we are talking here of the global market, being one of the first to regulate and legalize ICOs the country can experience many economic windfalls. Hopefully other countries will follow the same route...
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It is unfortunate that Facebook decided to remove my shares of the Litrabit posts...so it will be futile to continue filling up the Airdrop.
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