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4701  Bitcoin / Bitcoin Discussion / Re: What needs to happen in order for bitcoin to replace gold on: October 15, 2019, 01:24:08 PM
to "replace" something you have to be in the same category as that thing. bitcoin is a currency while gold is not. so it can never replace something that is not even similar to!
not to mention that the purpose of bitcoin has never been to replace anything in the world. it was always to offer the alternative decentralized payment system that nobody could control or shut down ever.
Yes, bitcoin can be used as currency and as investment. When we think of gold it is perfectly an asset that is valued with its global demand and years of history. There is nothing a replacement for gold, some users have stated bitcoin as digital gold which is not the reality. Bitcoin evolved as a transaction support system while gold is a physical asset and this way there is no need of replacement.
4702  Economy / Economics / Re: [DEBATE]: Cryptocurrency investment related on India facing threat for ban on: October 15, 2019, 10:11:46 AM
It's been more than two years and i have just heard that such laws and bills are coming which would ban BTC. There have been numerous articles regarding laws in India but nothing is conclusive until now. I think Govt. here just doesn't cares about cryptocurrencies as of now because there is no havoc by the opposition about bringing some legislation.
Even if such bill gets implemented people will continue to use bitcoin through one way or the other. In India the politicians are highly corrupt and very few are educated. If they've know about the possible ways of laundering through bitcoin soon they'll start corruption fund transfers through bitcoin. Within India the bills can be delayed for years. Now too there is more hearings taking place for months. When the judge himself satisfied he'll give the conclusion on the bill. Until then there is nothing to fear of cryptocurrency ban in India.
4703  Bitcoin / Bitcoin Discussion / Re: Is Satoshi Nakamoto a single person? on: October 15, 2019, 09:38:28 AM
satoshi was satoshi. one person. but he did not work alone. others helped. namely hal finney.
hal was not satoshi and satoshi was not hal
satoshi didnt work alone for 2009, other developers helped. but other developers had their own names
Yes, Satoshi is a single person and the proof can be found in our forum. He has got his own account and has made lots of discussions related to the development. More and more controversies were there related to his identity. Among them the name Satoshi is given a terminology Sa - Samsung and Toshi - Toshiba. Likewise he is related with more firms, let Satoshi be a single person or a network. The innovation is truly a needy thing for the growing world.
4704  Economy / Gambling discussion / Re: T20 and T20I cricket prediction and discussion on: October 15, 2019, 03:34:31 AM
This could be very interesting because India is one off biggest market in cricket if BCCI implement like this surely its going to help them too much as IPL one for only 6 teams and and IPL two for 10 to 12 teams many local players also benefited from this as well and BCCI will be in more profit.

There is huge amount of interest for cricket in India and that is evident from the success of state T20 leagues. I have seen crowd numbering thousands in some of the Karnataka Premier League (KPL) and Tamil Nadu Premier League (TNPL) matches. And remember that these are not even inter-provincial matches. They are intra-provincial matches equivalent to grade cricket in Australia or club cricket in England.

The IPL blocks around one and half months (April-May) every year in the cricketing calendar. We can have a second division, which is played at some other time (February-March maybe?),  and there can be a condition that anyone who has played in more than 3 IPL matches during the previous season can't participate in the second division for that year. This will give more opportunity for the younger players.
It is hard to set such limitations on participation. Hundreds of players were listed for the auction, from those each team choose the player they need. This means those selected list of people for auction were taken after lots of filtering through state games. Apart from this political influence will get its Quota.

Being highly populated it is very hard to find the one who is good and give him the opportunity to play. Somehow through these state level leagues more young faces has got little recognition, and few have got added to the auction list for IPL. As large owners spend money, it doesn't mean they won't expect return out of the same. It is pure business, so they won't leave good players for the second session play of the year.

Now one of the most popular face of Indian cricket team Ganguly is getting honored to be the BCCI head. Let's wait and see what initiative he takes forward to give chance to young players.
4705  Economy / Gambling discussion / Re: What will be the Faith of Casino business owners? on: October 14, 2019, 11:49:52 PM
If the propose Public Amendment of Gambling Law to BAN Casino come to pass what then will be faith of those who are benefiting from casino business related activities https://dailyasianage.com/news/199020/amendment-to-gambling-law-to-ban-casino
Every country will be having its amendment related to each and everything. Following that will be the faith of the casino business owners, mostly they'll go for further hearing or appeals.

If there is no success only way is to shift the business to countries that provide support for the registered usage of gambling. You could find most gambling websites gets registered on countries where gambling is not banned or opposed by the government.

Some casino owners prefer to move into some other business. One such happened with directbet, they are the leader in the gambling with cryptocurrency acceptance. At some point they suddenly closed their service notifying they're shifting to new business and the business isn't disclosed.
4706  Economy / Speculation / Re: Bitcoin Price Could Soon Surge by 20%? on: October 14, 2019, 11:04:20 AM
The market of bitcoin is neither bullish nor bearish. This trend continues with no big move, upon which it is difficult to predict the real market situation for the upcoming days. More chances for a downtrend is being felt as there is fluctuation and no growth. Maybe for a bigger price push on halving there is chance for a drop to sub $5000 by the starting of the year. If that happens further ends up with big price pumping by halving. These were all predictions based on the prevailing market.
4707  Economy / Economics / Re: If the stocks market will crash again like 2008, what will happen to bitcoin on: October 14, 2019, 09:11:17 AM
Bitcoin is independent of the stocks market moves, when there is more and more adoption around the globe the market reactions will change. 2008 is a worst year for the entire economy around the globe, but that got recovered with the gradual growth and different economic developments taken forward. Stocks has now experiencing some recovery compared to the previous months where it was expected to crash big than 2008.
4708  Bitcoin / Bitcoin Discussion / Re: Can a Bank Run Financial Activies on Blockchain Without Crypto Currency ? on: October 14, 2019, 07:31:07 AM
There is lot of misunderstanding about the technology as well as with the term bitcoin. The technology gave way to the existence of bitcoin and the same can serve independently with the banking firms without cryptocurrency. The technology gets integrated with the banking services. Through this effectiveness and the efficiency of the system can be increased with reduction of flaws.

Blockchain technology gives the transparency, which increases the trust. When the same is used on banking services automatically people will trust banks more than the present, because these days there is no transparency with banking services and customers were kept within control as the funds of them were in the hands of banks.
4709  Bitcoin / Bitcoin Discussion / Re: Dinar, Dirham to BITCOIN on: October 14, 2019, 06:58:24 AM
there are some people consider Bitcoin is digital gold. because of its mining system and limited stock. So do you think the concept of bitcoin refers to Gold? because gold has a stable value throughout the world. if true. then the country that uses the first stable coin is arabic, with its dinar and dirham. and perfected by bitcoin with computer networks and the internet. What's your opinion.?

The stability of any currency comes from the even distribution of the currency and also the government manipulating the supply. Gold are also less volatile than Bitcoin because cartels are manipulating the price.

Bitcoin will also become less volatile as more coins find their way to more people. <As it moves from Bitcoin whales to more individuals> The whales have loads of coins and a bunch of money to influence the price on a daily basis.  Sad

The fact of the matter is, all markets are being manipulated in some way.  Angry
The manipulation of the gold market gets limited as the distribution is even as stated. When we talk about bitcoin or other cryptocurrencies, there is large scale accumulation of bitcoin in limited accounts. This makes the Market easily manipulative. This will gets slowed down when the usage continues with the years of its survival.

Once gold too had the similarity, but with its years and years of usage now there is even distribution. And when we think of the dinar dirham or other currencies they have their own backing asset. Most being gold, and when it comes to their own stable coin they've chosen gold to have a fair distribution of value than just tokenising.
4710  Economy / Gambling discussion / Re: Gambling as a profession: there's people who live out of gambling? on: October 12, 2019, 11:54:03 PM
Very interesting topic. Tell me im too old school however I still believe that gambling is still a win of luck.
Similar with trading its not always a winning trade even though you are a professional trader. Smiley
No doubt that gambling is still a case of luck. From luck I meant to say about good luck only because bad luck has no role to play in case of gambling. If someone tries to carry on with bad luck despite his or her bad luck, then I think it’s totally something that wouldn’t last long. So gambling is only the matter of luck and if even the whole world starts saying that this is wrong, it can never change.
I agree with you in gambling is about luck but don't forget that luck and skill both has to Carry. If you have good luck and you have abilities to play a game well you will win and then after your effort your luck will help you. With out anything else you can't only rely on luck. One have to have good skills to play well in gambling.
When you have luck, even if you don't play the game well you'll be winning. This is the truth of luck, when you are playing depending upon the skills you've gathered it is a must to have some luck. Because to study the scripts of each and every gambling site is a hard thing. We can make calculations and play, but the luck is the one that gets us with the winning on the amount risked.

There are people who consider it to be a profession. From my experience as a gambler it is hard to be a professional gambler, you need to have patience, patience, patience. If you have that somehow you can earn, if not at least you can get rid of the losses.
4711  Economy / Speculation / Re: Bitcoin up to $20,000 before 2020? on: October 11, 2019, 11:47:01 PM
Chances for bitcoin to reach $20000 before 2020 is very small. This is all because of the prevailing market situation, even now it can move forward and reach $20000 same as that happened in the past. Comparing with the past charts it doesn't have the right momentum for such a hard push to reach the $20000 price.

Often whales manipulate the market, but this is much of a buying time. Large volume holders make use of it buying as much possible, keeping in mind the growth predicted for the halving 2020. Market change takes place in no time, yet this time over the falling months there is more chances for sustained growth than large scale growth.
4712  Alternate cryptocurrencies / Altcoin Discussion / Re: Will IEO be good in the future? on: October 11, 2019, 10:29:11 PM
This year IEO made a big attraction. Same as that it got to be a big success with most of the IEO launched turning successful. Further as the days pass there began to come IEO that aren't more effective. This is due to the lack of promotion of the project. IEO is just a way to grab investment, and when something new reaches the market it'll loss its importance.

Talking about the future of IEO, there is more success awaiting. This means, most of the projects highly depend upon the market trend. If there is bullish trend in the market the IEO gets more chances to get the calculated investment and happens opposite if the trend differs.
4713  Economy / Speculation / Re: Are we looking at Bitcoin down to $5K? on: October 11, 2019, 06:32:03 PM
When the price of bitcoin can reach $14000 all of the sudden from $5000 in a much shorter time period, there is also possibility for bitcoin to fall to $5000 in no time. As the price fall below $8000 there is more predictions of bitcoin reaching low. To the expectation there happened upward price move. This has made the price touch $8600.

There are people who are looking for $5000, and this is an expectation based on the upcoming halving which is scheduled for the year 2020. During previous halving the price fell and once again got pumped close to the days of halving.
4714  Economy / Gambling discussion / Re: Test Cricket Prediction and Discussion Thread [self - mod] on: October 11, 2019, 05:48:05 PM
South Africa is in big trouble once again, exactly similar situation as Last Test Match. Where they were 3 down at 2nd day stump, it would be interesting to see if their middle order is ready to face the challenge or not?

Anyways, Sharing something, it might cheer couple of Proteas's fans here.....So turns out Temba Bavuma can see the future  Grin


https://twitter.com/tbavuma10/status/784682892706324480
Same as the first test match things were happening. In the thread discussion came across a statement Umesh Yadav's addition to the team will help India big. The initial wickets taken by him has helped the team to be more strong and collapse the middle order. India has its opening partnership good, and this has made the team score reach 600. As in the statement South Africa's innings is much much depending on the Middle order as the performance of openers is not to the necessity of the team to fight back for a win.
4715  Economy / Economics / Re: China cracking down on bitcoin again on: October 11, 2019, 03:27:17 PM
Chinese government fear it as a reason for the prevailing economic condition in the market. From different statistical data China stands stronger than USA at present, we talk from the outer view and don't know what is the reality. Maybe China is suffering some hard time pushing themselves strong in the market. This could've caused Chinese government to pressure up alipay to close all payments that are associated with cryptocurrency related activities.
4716  Economy / Gambling discussion / Re: How to be profitable in sports betting? on: October 11, 2019, 01:33:16 PM
A lot of us here love sports and we are betting at the same time.
I am not successful in this kind of venture but I would love to know from people here on what they do in order to win.
They say that sports betting has no house edge, but why is it it's still hard to win here?
Very few matches can be predicted perfectly, because the odds will be having huge difference between the two teams. However we try hard to collect data, and select the odds it won't be a win. This is the reality with sports betting and other forms of gambling. To be profitable with sports betting it is good to go with the low odds suggested by the gambling website.

With sports betting, I prefer live betting because the match scenario changes every minute. According to the situation we can place the bet selecting the odds. This will increase the chance of winning than just placing the bets before the game begins.
4717  Bitcoin / Bitcoin Discussion / Re: How do I get to know detailed stuff about Bitcoin without the coding languages? on: October 11, 2019, 12:35:09 PM
Most users of the forum are of the same kind. They don't have much of technical knowledge about bitcoin, it can be of the programs, algorithms as well as the way mining of bitcoin takes place. Just thinking of the profiting, and without any knowledge about mining more people have invested into mining and has experienced big loss.

Bitcoin is much known for trading and for investing. This has made people learn about its market analysis much more than its technical aspects. We've got lot of threads and technical articles that gives clear information on how bitcoin works.
4718  Alternate cryptocurrencies / Altcoin Discussion / Re: Mass adoption growing or decreasing? on: October 10, 2019, 11:18:35 PM
The previous mass adoption of bitcoin took place with Japan. After the same there is not much of such a level of adoption, there is more global adoption taking place in a random manner. After Japan no countries came forward and revealed official statement on adoption. There is increasing adoption, and the same is taking place here and there. It requires time, and the userbase it has reached without any form of advertising in such a short time period is really a big achievement. This will boost up the usage, at times there will be lacking of the same due to the market situations.
4719  Bitcoin / Bitcoin Discussion / Re: The uses for Cryptocurrency in places where fiat currency cannot be used on: October 10, 2019, 10:27:02 PM
Nowadays the world’s economy seems to be stable in a majority of the developed nations. However, for some of the less developed nations their economies are not doing so well compared to the more developed nations. In these countries, their economies might not be going so well due to conflicts in the regions, mismanagement by their governments and sometimes in the worst-case scenarios corruption by their respective governments.
World economy is now facing the worst of all time. Here the grown nations as well as the developing nations were not an exception. There are countries that have gone economically down due to lack of management and corruption. For the same they haven't moved to cryptocurrencies.
In such cases, the value of their currencies is not very high in the global economy or in some cases such as Zimbabwe, are worthless to use for transactions. While some people in those countries just use trusted currencies such as the US Dollar as it is trusted by people worldwide, there is another alternative: cryptocurrency.

Considering that their currency is basically unusable, Zimbabwe has adopted cryptocurrencies as a means of trade especially after their banks wouldn’t allow them to make transactions using foreign currency. So far the use of cryptocurrencies there is rising and it probably won’t stop until they fix their economy. This shows that cryptocurrencies can help countries that have problems with their currency.

Another example would be Venezuela. As we know now, the region is rather unstable with their economy not doing so well, however, some of the people there are able to get by using cryptocurrencies which further proves that cryptocurrencies can greatly benefit places with economic difficulties.

Zimbabwe and Venezuela people have begun to use cryptocurrencies higher than the past, but there is nothing like the progress of cryptocurrency is growing much high eliminating the usage of fiat. Zimbabwe suffered economic collapse years back and experts gave suggestion for bitcoin adoption which might help in the recovery within certain number of years, and that hasn't encouraged much big level of usage, growth, acceptance as Op mentioned.
4720  Bitcoin / Bitcoin Discussion / Re: Should Fiat currencies still exist or be replaced by Crypto Currencies? on: October 10, 2019, 04:33:53 PM
So, we are moving into a new era where Fiat currencies are getting some competition from Crypto currencies and multiple other payment methods. People are simply not interested in using cash anymore, because cashless payment options are more efficient and also more convenient. < Debit & Credit cards / Crypto currencies / Gift cards / E-Wallets / Cheque / PayPal etc. >

So with the endless alternative payment options available, cash payments are slowly being replaced by more practical and convenient payment options.

Is there still a need for Cash <Fiat currencies> in this evolving world?

I can think of several scenarios where Fiat currencies are still needed, namely :

1. Where there are no electricity infrastructure.

There are remote locations that doesn't have electricity, but these days through the advancement it is possible as solar energy can be produced even from very low sunlight.
2. Where it is not safe to carry expensive smart phones.
As mobile operators have developed inbuilt wallets, we can enrich the security so that even if smartphones were stolen or taken by someone else they can't make use of it.
3. Where there are no access to the Internet.
More firms were trying hard to give cryptocurrencies physical appearance. This is hard, and paper wallet is the only way it can be viewed physically. Some form of offline transactions were made, but at some point it needs connectivity to register to the block.
4. Where there are a high number of illiterate people.
This is not at all a problem, people found difficult to use phones. Now everyone who haven't gone for school uses it better than a techie. So, being illetrate is not a big issue with cryptocurrency.
5. Where there are people with disabilities that presents challenges for electronic payment options.
People moved from physical cash to card payments, and this gets effective when governments promote it and encourage using card/other forms of digital transactions for all the needs. One such promotion is taking place through out Japan.
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