The main issue with corona virus in terms of finance/economics is a massive proportion of global production and supply chains being heavily centralized within china, the epicenter of the disaster. Yeah,but China is recovering from the virus.There are lots of positive news about more people cured,and less people infected.Life goes back to normal in China.I don't trust this info 100%,maybe a portion of it is propaganda coming from the communist party in China.However,there might be some true. The supply chains will recover faster than you think.We can't beat China in terms of cheap production costs.People and companies in the western world will always want cheaper products.China still has the competitive advantage of cheap labor and cheap electricity. |
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The CEO of Digitex exchange Adam Todd decided to publicly oppose the KYC system, believing that this system only repels customers from the service and destroys the business. I myself am not a big fan of KYC, but it is definitely not without meaning and helps to prevent laundering and so on. I wonder what goals he can actually pursue by making such a decision. What do you think about KYC and its appropriateness? Do you separate KYC by the types? Like going through KYC to just get the access to exchange platform (as it is now with Shapeshift), or simply register with any email, but knowing that you might be one of the 0.1% and might be asked to confirm your identity (as it is now with Changelly)? It's a myth that KYC helps prevent money laundering.Do you know how easy it is to get the personal data of someone else,if you are a hacker or criminal?You could pay some poor homeless man to give you his ID for a while,you could hack some PC and get all the personal info.How can a crypto exchange platform prove that you are submitting your own ID card?KYC really repels customers and stops mass cryptocurrency adoption.Government clerks should try to find a better regulation that replaces the "know-your-customer" policy. |
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When all major markets around the globe are all red, and btc is no exception, that's a pretty damn big 'coincidence,' don't you think?
Who is saying that this is a coincidence? By the way,is Bitcointalk a stock market forum now?So many people posting threads about the stock markets it makes me wonder are we still a cryptocurrency forum.  There's nothing we can do,except waiting for the global "coronarecession" storm to go away slowly.The prices ,both stock and crypto,will recover,sooner or later. Unfortunately,according to recent studies,the coronavirus is here to stay and the peak might be at the end of September. |
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If we like it easy then bitcoin donation should be implemented, actually this is more transparent compared to fiat being donated as there is a bank secrecy law if it goes through the bank account and we can't track the cash movement, with bitcoin, we have the blockchain which is the public ledger which is easier to track when the amount is liquidated, more transparency would result to more people donating.
You can't track the financial transaction,but CIA can. Every government investigation agency can ask the bank for financial information.Even if they don't ask,I'm pretty sure that CIA is currently spying every bank in the world,even Swiss banks. more transparency would result to more people donating I don't think that there's a clear correlation between having more transparency and more donations. If the donator's private info is revealed,they will refuse to donate. Tracking how the donated funds are spent is a good thing,but I don't think that the BTC blockchain will help for that. |
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After recent dump is it still safe to hodl on to our existing bitcoin or convert it to USDT? I have just converted my bitcoin into USDT and I will be monitoring the market closely with multiple reminders to buy back when the value starts increasing so that I don't use my existing balance and eventually buyback more than I have right now? How many of you agree with my idea? Kindly share your suggestions.
I can't tell you what you should do with your bitcons.I can say what I can do with my bitcoins. I will HODL until the summer.I don't care about the short term market panic.I don't care about coronaviruses and stock markets.I'm not a day trader,so I won't sell now and buy cheaper BTC later(if the bear market continues).You can do whatever you want with your coins,but don't seek for trading or financial advice here.It looks stupid to me. |
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Hello, guys! What do you think? Can crypto and the oil industry be connected?
No.The oil price crash is caused by a trade war between Saudi Arabia and Russia.They just can't negotiate a reduction of their oil production.If they manage the reduce the oil production,the oil prices will go up.This is a temporary situation.And no,cryptocurrency markets have nothing to do with oil prices.I don't think the crypto community should be worried about the oil market.Having lower oil prices is usually good for most countries that mostly import oil and for the global economy in general. |
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First of all, not all crypto needs to consume power. The “waste of energy” is the barrier to protect bitcoin with competence. This is the nature of PoW. Moreover, in 2018, the total electricity consumed by bitcoin is the same amount as Ireland, the country. However, the total market value of bitcoin was about the same size of Ireland M1 which consumes much more resources than just electricity, In order to support a country’s M1. From this point of the view, PoW the consensus, actually is more efficient than any other form of modern social consensus. About bitcoin and crypto refers to the article below: https://www.mycrypto101.net/post/is-bitcoin-mining-a-problem-of-wasting-energyNowadays, energy production technologies are being actively developed using alternative sources. This is especially true for solar panels. The technology of their production is constantly being improved. I recently read that the Chinese have switched to the production of larger panels with a side of 210 millimeters, while their efficiency has increased. The production of such electricity is very cheap, convenient and affordable for everyone. Therefore, I do not think that the extraction of bitcoins will be a big problem in terms of energy consumption. The sun is enough for the next several billion years. In addition, humanity is already approaching the possibility of launching artificial suns into near-earth orbit. It will be a ball with a diameter of only six meters. A few of these "suns" will make it possible to provide light and heat to our entire planet. No,it's not cheap,convenient and affordable.It's still expensive and the production of such solar panels damages the environment. Launching artificial suns in near orbit?WTF is this BS,OP?I've never heard about this science fiction BS. The future of energy production is in geothermal energy and the nuclear reactors that use thorium instead of uranium.Thorium is more affordable than uranium and produces 10 times less nuclear waste. Anyway,BTC mining isn't wasting energy.BTC has value and the electricity used to produce BTC has value. If we use your kind of logic,then turning the lights in your house is actually wasting energy. |
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This is very much expected, China is big on technology innovation and always try to be the leader. The country is always promoting technology as they have done with 5G and AI
China was a leader at stealing US innovations and technology(they still are).Now,they are trying to be a leader in the field of technology innovations.They have the human resources-lots of hard working,willing to learn,goal driven and disciplined people,so they will succeed,I guess. I assume that the Chinese want to prepare more programmers and blockchain developers for their central bank coin project.They aren't interested in Bitcoin and altcoins,which doesn't make me an optimist for this news. |
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If the reason to legalize bitcoin to acquire some taxes from the investors then it's not totally good news at all. but honestly, it's good to hear than some other country banning the use or mining it. for some reason, these big countries are opening the door for bitcoin and the other cryptocurrency out there. I wonder what would be its effect on the holders of those countries, are they gonna pay some taxes now? or remain anonymous so that their government won't get any penny from them.
If you have income,you have to pay taxes.It doesn't matter if your income is in cryptocurrencies or fiat.That's a big part going business or trading.I prefer Bitcoin to be legalized and have taxes rather than being completely banned in the western world.It looks that more countries will become somewhat crypto-friendly,but with all the negative parts- KYC,taxes,etc. which is unavoidable,if we want mass cryptocurrency adoption we have to handle the "not so pleasant" regulations.I hope that all the good news will help for a massive price growth,when the markets return on the bullish trend. |
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The entire global economy is going down due to the coronavirus panic.Oil,stocks,derivatives...
It's really stupid to think that Bitcoin and cryptocurrencies in general will be some kind of safe heaven and everybody is going to buy BTC in order to keep his savings.More people will sell their coins in order to buy some important goods-food and remedies,so they could survive staying at home during the quarantine.
Let's hope that the coronavirus will be gone by the end of April and everything in the global economy starts working normally (and prices recovering) by the beginning of the summer.
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In my country sending money from one bank account to another isn't that easy.You will have to phone verify the transaction by submitting a 6-digit code that you receive via SMS and you are required to double check the bank details(IBAN and BIC/swift code) of the receiving account.I don't know about the bank transaction process in England,but sending money to the wrong bank account in my country isn't a common thing at all.
Anyway,if this is NOT an article about Bitcoin,then why it's in the Bitcoin Discussion forum?You should move it to "Economy" or "Press" sub-forums.
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If you really did this, I would actually consider you as an unlucky person. This shows that you don't believe in bitcoin and just bought it to gain profits.
If you would have truly believed in bitcoin then you would have never sold it in such a low price.
If you had an emergency then that's a different thing but if you just did it for speculative purpose then you have just encountered a huge loss.
You still have the time with what you have left. You can either hold your altcoins or convert them into BTC and wait for BTC to rise up again.
We all know that BTC will "surely" rise in price but it will just take some time.
Buying Bitcoin just to gain profits? Isn't that the main reason people buy bitcoin?I mean,what are the other reasons to buy Bitcoin and HODL? Do you think that,OP and people in general,should "believe" in Bitcoin,like it's some sort of religion or sect? Of course they want to make some profits. I guess that OP bought Bitcoin at the wrong time,following the 2017 price bubble.Many people suffered severe financial damage back then,just because they have followed a market trend. However,I can't consider this decision to be "unlucky". This has nothing to do with luck,or lack of luck. It's just a wrong decision. |
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Congrats on educating more people about Bitcoin Core.You should tell them more about the Bitcoin forks and all the altcoins that have the name "Bitcoin" but aren't actual bitcoins,like BCH and BSV.Some newbies,who aren't aware about this,might end up in the "Bitcoin Cash" trap and turn into enemies of Bitcoin Core. You say that you helped some people to create accounts in this forum.That's nice.Maybe they should visit this thread and introduce themselves. |
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If this measure really helps for stopping the coronavirus spearing,then other countries like China and Italy should do it as well.
Burning paper money isn't a big loss for the fiat money supply.Printing and production of new paper money is really cheap.People should be told to touch paper money with gloves and everything will be fine.
I wonder why there are still people in this forum,who are so over-hyped that the coronavirus will destroy the fiat economy and make cryptocurrency prices go to the moon.This simply isn't happening right now.
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https://twitter.com/brian_armstrong/status/1235314764219322371Thread here - https://twitter.com/brian_armstrong/status/1235309368918388736Now we know how much Brian Armstrong dislikes Bitcoin. Despite it being the very foundation of everything he's built he still can't bring himself to say many or any complimentary things about it. Do you reckon he has the slightest point or is it the hopeless ramblings of someone who wants you buy as many shitcoins off him as possible and wees himself in the face of the one project immune to his power? As far as I can tell every single other potential contender is a broken joke in some way and every day that doesn't introduce something 'better' makes it less likely. There are still a lot of things to address but nothing else appears to understand that you can't do that unless the underlying foundations respect the principles on which it's built. 5B users?I really doubt that any blockchain EVER will handle 5 billion users.I also doubt that any cryptocurrency will ever become popular enough to be used by 5 billion users.Sounds like the typical "bitcoin can't scale" whining coming from an altcoin supporter. I myself view Coinbase as a player of the financial "status quo".They might be the biggest cryptocurrency wallet with most users,but they just aren't a crypto company to me. Armstrong seems like a BCH/BSV supporter.Even Roger Ver is commenting under one of his tweets. |
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This type of scam is the most stupid one of all.
Deposit more funds so you can withdraw?!?WTF?No broker or invesment fund works like that.
Those 2 guys that were scammed didn't do any simple research about the service-online reviews,scam reposts,etc.They would have been scammed,even if they were using a non-crypto related HYIP "investment" scam.Nobody with a brain will signup to some unknown "broker" and deposit 1K USD just like that.
It's not about knowledge.It's about common sense and being cautious.
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Some people keep try get income using crypto trading method but always fail. They wasting everything ( money, energy, time, etc ) into something that might be just dream ( profit ). There's time when I give advice to try another way but they always refuse. For them there's no other choice, leave crypto trading forever in lost condition is not an option must take the fund back. The question is why convince people to leave crypto trading for their own good is really hard?. I'm not laughing when people get lost in trading but there's limit shouldn't pass, so please don't misunderstanding.
If a guy doesn't want to leave crypto trading just because of loss(plus the faith of gaining back all the lost money),then he has a gambling addiction.Such people need professional help from a psychic doctor. Just trying to convince them with logic and the voice of reason won't work.Gambling addiction has something to do with the dopamine balance in the brain.I'm no expert in this field,but there's lots of free info over the internet-Youtube videos,e-books,etc.However,keep in mind that such info can't replace professional medical help. |
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If I had to choose between someone's technical analysis and sentiment,I would choose sentiment(even if it's partially wrong). In my opinion,technical analysis is exactly what you describe-reading charts and drawing lines without any real meaning,most of the time. It's an important part of every crypto trader's arsenal,but it shouldn't be combined with fundamental analysis+trading signals.Just relying on technical analysis simply doesn't work.
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I ask this because of the corona virus where people are too scared to hold money.
The issue is that we value btc against the usd and other fiat currencies. If fiat currencies were no longer how would bitcoin be valued...inflation etc? Can't get my head around how it would work.
What makes you think that people are "scared to hold money"?I've never heard about such fear. If the coronavirus is really spreading by people touching paper money,then the people have a reason to be scared. However,there's no evidence about that. Fiat currencies won't disappear soon and coronavirus won't be the reason they disappear. If people are too afraid of using paper money,they could use debit/credit cards,paypal,skrill and all the other fiat payment processors.What makes you think that they would immediately switch from paper money to cryptocurrencies? |
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Have you ever been concerned about Bitcoin's longevity in the mainstream world as a decentralized cryptocurrency? While BTC has been going strong since 2009, there exist the possibility that it could vanish from existence sometime in the future. After all, we know that nothing lasts forever. My guess is that once governments start circulating their own digital currencies, they will try to crackdown on Bitcoin and other cryptocurrencies as we know them. It's no secret that the entire crypto space is largely dependent on centralized infrastructure (centralized exchanges, centralized wallet services, etc). People will not want to use something that's considered "illegal" by worldwide governments. While it'll still be possible to continue using Bitcoin regardless of government bans, regulations, etc, not many people will support it (only libertarians, geeks, anarchists, etc.). By that time, it'll be nearly impossible to get access to Bitcoin with Fiat currency or even exchange Bitcoin to Fiat (as the government crackdown will make all centralized exchanges to cease their operations). Considering that governments want to stay in power, they'll do anything to force people to use their Central Bank Digital Currencies (CBDCs) instead of any other alternative payment system. If that happens, Bitcoin will be doomed. Do you think that we're close for Bitcoin's End Game to happen? Will it ever happen? What are your thoughts?  If the governments around the world really want to ban and destroy Bitcoin,then what the hell are they waiting for?I don't think that's the case.Some countries have projects about central bank cryptocurrencies but there's no result and everything is in the very beginning.In most countries,bitcoin is considered a "digital asset".It's not legal tender and an actual currency,but you can trade it. This topic has been discussed 100 times before.Nobody knows what will happen and nobody can predict the future.I think that bitcoin will survive a global ban,but the BTC price will fall below 1K USD and BTC will be used only in the darknet marketplaces. |
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