Let it be cleared that it is not Bitcoin that is getting to be like a central bank but the many services and platforms somehow or one way or another connected with it or using it. Now, I think that the only we can get away from the KYC is if we are doing P2P but that is not the case these days because we still prefer third party platforms whom we feel offer more convenience and other benefits. In other words, if we don't like to do KYC with a site then we just don't use it, am sure nobody can force us if we refuse. On the hand, there is nothing we can do if a certain provider is not going to exempt us from their KYC and will not allow us to continue to enjoy the said platform.

Can Bitcoin really function as the global currency that can replace the US Dollar especially with international commerce transactions? This is quite hard to picture out because certainly the dollar did not become the de facto currency without any basis or reason. And we don't have a good model for a country where Bitcoin is already adopted as the primary currency. In other words, it would be experimental and there can be risks that can come arise. Of course, no country in the world will be pushing something like this because of the possible backlash and the world economy today is very sensitive which can be a two-edged sword actually, maybe it is so ready for a grand change or it has become so fragile that a change like this magnitude can just break it. The trend right now for is countries like China and Russia doing "under-the-table" arrangement with other countries for currency swap to wean them from relying on the USA Dollar.

One of the biggest reason why the economy of USA remains to be afloat despite its tendency to go for "quantitative easing" or printing of more paper dollar is because the currency is the top money used in the global commerce. Now, you take this away and we can see the economy of USA suffer the inflation effect of printing money. Getting rid of the dollar as the global currency can be like the biggest cyclone to ever hit the economy of the country, and this can partly lead to the collapse of the country with its economic giant and the superpower status. And the reason why the political leadership of USA is letting Bitcoin go on is because they are aware that for now there is no chance that Bitcoin can replace the dollar as the currency of the world, otherwise the attitude will be changing and I am sure of that. Bitcoin's volatility is hampering any chance that the world economy is going to adopt it as the default money.

No, I won't be paying in Bitcoin. I will just offer him some foods and drinks instead while relaxing in the comfort of my home so we can also have a chat about his experience with Bitcoin so far. I would then have a good story to tell on this forum about an unemployed guy whom I meet in my home and who happens to be a Bitcoiner too. The reason I am not paying in Bitcoin is that I am saving all the BTC I have just in case the "bull run" will really be coming next year. People are holding these days with Bitcoin becoming the most-known speculative investment vehicle in our modern and high-tech world.

I am also a firm believer in Bitcoin despite it not being perfect and its many perceived  inadequacies. I am sure that as we go along its real value will definitely be growing though the road to great heights will always be fraught with many dangers and discouraging challenges. Bitcoin is going to be tested with fire, typhoons and hailstorms before it can soar into the sky and be the symbol of the real freedom we are all yearning for. Now, so much for being sentimental, to be frank, getting into the 10 million mark can be taking a lot of decades if we have to base it with the way things are. Not that it can be the reason we have to give up, this should be encouraging all to continue the journey and take the cudgels of this fight.

Well, we all have different ways and means to be managing a site. I am a member of that other forum too but I am not anymore as active as I used to be because of all the many spams and worthless posts which flooded the forum for the past many weeks. It would be so difficult to be making a good comment in there because there are so many post beyond comprehension as many are using translation tools just to have anything to say in order to up their number of posts. Managing a forum these days can be a headache because there will always be users who are not actually contributing anything useful and correcting them can be taking a lot of time. They better be hiring good and professional forum police to make sure that site is clean of garbage. Still, I am wishing them well and I hope that one day the forum can also be recognized as one of the leaders in this expanding and lucrative industry.

Comparing the many investment alternatives, one should consider using many baskets for one's eggs and this is the proven wisdom that we should ignore at our peril. The best thing to do is to invest in real estate, gold and Bitcoin, of course. These choices have their own advantages and disadvantages so one should be careful and should be doing the due diligence before jumping to anything. I am sure the millennials are more daring compared to the past generations but this their time.



Bitcoin has been giving unbeatable profitable returns so far despite its roller-coaster ride for the past decade. Real estate and gold are more on stability and playing as the safe haven while Bitcoin is more volatile making it a risky option for people who are new to the market and has not been educated on how this new option can be working. Yes, the best thing to do is to earn as much money from Bitcoin and then use the money to invest in real estate.



That's the solid advantage of real estate. Just like the real gold which you can make into jewelries, usefulness is a very important function that one should look into. Stocks can be giving dividends but we know that with Bitcoin this is not the case but of course you can use Bitcoin in trading cryptocurrencies. Maybe what is happening here is that with Bitcoin it is our basic concept of a valuable asset that is being challenged. Does Bitcoin really have a good value on its own and what are the benefits we can derive by holding them? Still, looking at the history of Bitcoin, it would be easy to surmised that its ROI is truly outstanding and can beat any other investment vehicles. In other words, Bitcoin is the best speculative tool.

All of us in the Bitcoin or cryptocurrency community need to exert more efforts in educating people that they should not easily trust any third-party programs claiming to be giving a high return of investment because most likely they can be scams. Just like the US Dollar, Bitcoin can be the medium of exchange in any program because Bitcoin is also a currency.

Sadly, because Bitcoin is relatively new many people are associating this with many scams that victimized people all because they don't understand the currency aspect of cryptocurrency. I guess no one will ever accuse the dollar to be a scam just because there is a pyramiding program that is using the dollar as the money to pay-in and payout, right?

Unfortunately, we don't have that supernatural power to stop scammers from doing the things they excel. Some people are just inclined to enjoy fooling other people all because they are aware how lucrative the scam industry is. There is more money that can be made here than doing things legally and ethically, that is the truth that is staring right before us.

Scammers will scam, hackers will hack, phishers will phish and victims will cry. Hope we can spare one or two within our own circle of influence to steer away from being a victim statistics.

Just because the current POTUS do not like Bitcoin, it does not automatically mean that the US government is planning to restrict more or even ban Bitcoin. I am sure that there a lot of things that President Trump do not like and even hate but he is not banning them. For sure, he is not in sweet terms with Hillary Clinton and Barack Obama, but is Trump banning them? Of course not.

People just have a very creative imagination that they can see the links even if they are not there. All of these are just speculations and ideas which for now remain unsubstantial. To ban something, in my opinion, requires the approval of Congress and that is why I think there was a bill filed in Congress to control Bitcoin which of course received a cold reception from many lawmakers.

No matter how stupid Trump the media is presenting and painting him to be, he won't risk the many gains that this industry has already produced for the economy of the USA to go to waste. 

Here in my country, there is a big commercial bank that is actively shooing away people who are involved with cryptocurrency. There had been instances that the bank advised their clients to close the accounts upon learning that they are into cryptocurrency. What is amazing is that there is actually no directive from the central bank for such a policy so the bank is doing things on their own initiative. Well, I would certainly don't want to be working with a bank that is not really friendly with cryptocurrency or will not allow any money coming from cryptocurrency. Rather than risk my money to be investigated and be held for some time, closing the account can be the best alternative. Certainly, there are so many banks one can go to which may not be strict in their policy towards cryptocurrency. It is unfortunate that we actually still need banks right now, P2P remains to be a very underutilized option.

I am not from China but I am sure that people in there will have no choice but to follow what the government is saying and implementing. Right now, there seems to be a trend of controlling cash inflow and outflow. You are also talking about Australia but I remember that Malaysia is also devising a similar system. Frankly, I am not yet sure what are the motives of this movement, maybe to control the liquidity of the market which they can think can be a big boost to the economy.

Of course, with this scenario, there will be many people who can be enticed to do the alternative which is cryptocurrency though the problem for now is that we can't rely on so much with cryptocurrency to function like the fiat currency as not all fiat merchants are also in here. Maybe the question is if this trend can be affecting positively the cryptocurrency industry. That can be too early to conclude with, maybe we should wait what are the implications of this money control.

I doubt if you can ever contribute something this way towards making cryptocurrency legal or recognized and allowed in Pakistan. With a growing interest of cryptocurrency from the Pakistani people, it would have been good if soon the government will allow this industry to flourish in the said country. Now, I am suggesting the following points which you can consider:

1. I am suggesting that you don't do things along. Find a group with the same mindset and you act as a group. Individuals will not have a good impact with something like this but if you are backed by a group of people then maybe the government will listen to you more. Do things in the name of the group and not by yours. This is the power of the people.

2. Always work with people who are more knowledgeable with the law. In other words, get a lawyer who can work with you on this matter since you are dealing with legal matters. A lawyer who has some knowledge on finance, money and cryptocurrency can be the ideal one though it might be hard to find it in Pakistan since cryptocurrency is a new industry.

I am wishing you all the power, wisdom and luck in this uphill battle of stirring the nest of those people occupying power. There is a big market in Pakistan for cryptocurrency for sure and once this can be opened I am sure this can be contributing a lot to the overall growth of the whole industry.

Bitcoin is all about freedom - the freedom to be our own banks and be away from the strong control of the government and many traditional institutions who are working only for their own interests. Now, of course, free speech should be promoted and encouraged as this is the bedrock of real democracy. However, I also believe that freedom without responsibility and restraints can be endangering the freedom of other people. And with that, there should be a sort of balancing between concerns and issue because there is no such thing as absolute with anything we are doing. I don't believe that Bitcoin means we have to promote anarchy. We need more Bitcoiners who believe in freedom and at the same time so aware and cautious with societal responsibilities.

In fairness to Google, I think they never claim that their so-called quantum supremacy can be able to tackle or destroy Bitcoin or cryptocurrency and there had no other details they released despite the many speculations spreading around especially within the cryptocurrency community. In other words, there is no denial or further explanation in relation to cryptocurrency so maybe there is no such thing. I am sure that if Google has it then they would not telegraph their punches. Anyway, it remains to be seen if one day quantum computing can be the threat that it is perceived to be to cryptocurrency. In the meantime we can continue on postulating and speculating this topic.

Here in my country, I have no problem with the police enforcement on ponzi programs that are now using cryptocurrencies as their mode of pay-ins and payouts to avoid the usual detection but in many ways than one are destroying the image of the cryptocurrencies they are using because people will easily assume that these ponsiz are representing cryptocurrency when actually there is no such a connection. However, being under the law and using the presumption of innocence, police can only love if there are complaints and there are orders from the court. This is where the weakness is. I believe that government agencies should be pro-active in seeking these scams and stopping them before they can grow and victimize as many people as possible.

I heard that Indian police are focusing a good part of their time and resources to be running after these pyramiding programs which have fooled many people to shell out their hard-earned money in the hope of getting more money. This is really a universal problem and almost all countries are affected by this malady, well maybe for as long as we are all humans and under the power of green then programs like this will be sprouting from time to time. People should be educated and maybe it would be good if there can also be a slight penalty for people who are promoting these scams offline and online, that way people will stop talking about them.

Okay, I am not so sure but I think there are ways to make money from Bitcoin you are holding. You can loan it to a lending cryptocurrency platform while you are still some control of the assets. Anyway, happy to see that ProtonMail can be considered as a good managed company which I believe is credible enough not to waste the trust bestowed on it from its loyal users.



Maybe as long as they don't go panicking and sell the assets when Bitcoin is under the bears then probably their Bitcoin can be safe. The key is really long-term and maybe ProtonMail is looking for another ATH because they failed to dispose of them in 2017 thinking it can still continue to grow.

This is a truly sad story. This staggering WEX failure illustrates two big things: One, it is truly dangerous to rely on a centralized exchange especially one that is based in a "rogue" country like Russia where the law is the government and you must comply what authorities are ordering you to otherwise our life can be hinging on it. This is my way of saying that we should never trust any exchange based on Russia or any similar countries. I am not wondering why Binance relocated itself to Malta away from Hong Kong which is now under the China regime. Two, this is clearly a display of the power of the government to confiscate and corrupt anything that is under its control. Remember that "Power tends to corrupt, and absolute power corrupts absolutely." Though this can be the case even in democratically-leaning countries, the difference is that in controlled countries they are not that free to expose the corruptions happening in higher places.

Almost six years and justice has not yet been served to many victims of the Mt Gox fiasco. And then I assumed that things here in the world of cryptocurrency are moving fast, obviously not when it comes to a legal maneuvering like what happened here. I am not one of the victims of this popular failed exchange but I can feel the pain of the many who are still yearning that even a small percentage of what they lost can be back. I understand that victims are not getting the Bitcoin they lost but just the equivalent dollar value at the time when the exchange fell, and this was a major blow plus the continuing delay we can say that this is really a discouraging situation but victims have no choice but to continue hoping. Let's hope that something like this will never occur again, otherwise it can really be catastrophic to the victims and to the cryptocurrency in general.

Then what that happens, Google has succeeded to minimize or maybe eliminate cryptocurrency. And when something is eliminated in the race that can mean that it must be weak or it has failed to capture the imagination and support of its intended market. Cryptocurrency is still relatively new and there will always be forces that will compete and destroy it if they can but IF an idea and technology is strong enough (and it must be) then it can be able to survive and flourish. Survival of the fittest is the game being played all the time. Cryptocurrency is no exemption.

Now, having said the above, I don't believe that Google's quantum computing technology can be able to destroy or decapitate Bitcoin and even if they do I don't think they will do it just for the sake of doing it. Having the said technology comes with great responsibility because an outfit who will not be careful with it can have legal repercussions to face. And Google is a corporation that is avoiding any possible skirmishes with the legal community and they don't want a backlash from the expanding cryptocurrency community as well.

I don't usually quote a long comment on this forum but this time I am making an exemption to this one because I am in full agreement with @franky1. Finally, someone with a more balanced and honest view on things. The problem with people sometimes is that we feel that the whole world is revolving around us and that all people are conspiring against us. While that can be true to some level, it is not all true all the time. People in USA are not in a perfect government but frankly speaking you guys should wonder why there are millions of people around the world will do everything they can just to arrive at the footsteps of USA. As for Bitcoin, can we say now that it is better to be in China than in USA if you are a Bitcoin holder? We could never live in a perfect world that is impossible, though we should continue to do something to make it so. Making complaints, doing nothing or doing stupid things are not the way towards real progress. With centralization, it is happening partly because we are not really doing P2P and there are many reasons why it has never gets off the ground.

Crazy prediction like what John McAfee is fond of making of? Well, I am sometimes a crazy man too so if I will be predicting Bitcoin at the end of the year I will go for $15,000, next year $30,000 and in two years time $75,000. My predictions are all conservative compared to many other famous personalities and it means that mine have more chances of making it to realities.