Cashless economy which runs on bloclchain will be transparent and effecient as well as secure. Nation lose a lot of money because of cash or bank related frauds. With block chain they can easily escape it and save a lot. Also billion dollars can be saved in remittance fees globally. Money laundering can be escaped. In a way it will give this world a more secure monetary outlook.
And people lose a lot of money in crypto with all the exist scams, ponzi's, investment scams, etc. It's true that crypto removes risks associated with banks and payment companies, but due to it being hard to trace and irreversible, it makes it more attractive to hackers and scammers, so it's a net loss in terms of security - in crypto you are on your own, there's no one who can fix your mistakes, and majority of the population is not ready for it. |
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I always check https://jochen-hoenicke.de/queue/#0,24h to choose the lowest fee that will get accept in next blocks, or decide to delay my transactions for later if there's a spike of transactions on the network. This site isn't a simple transaction fee estimator but instead a chart that shows the structure of mempool, so to estimate your fees you should look at the third chart and look for bracket that is 1-2 MB in size (or less) - that would be the lowest fee with a good chance of accepted in next blocks. |
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In your opinion when will IEOs begin to be reduce in number? Just as happened with ICOs, it seems probable to conclude IEOs will one day be replaced with some other form of investment facility.
If you remember those days, ICO's were huge, there were really ambitious projects, everyone talked about them, news sites covered ICO's almost daily, and they gathered dozens and hundreds of millions of dollars. Nowadays it's nothing like that with IEO's, so we can assume that the next iteration of public investments will be even smaller. IEO as a concept is an attempt to gain trust of investors who understand how insanely risky ICO's are, so these post-IEO investments will try to do the same. Maybe we'll have offerings backed by governments or real world companies, but I doubt it will be any more trustworthy than what we have today. |
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People who are too preoccupied with merit are generally those who view posting on this forum as some sort of career where the grand goal is to get into well-paying signature campaigns. And this is a really wrong mindset, because first it's unproductive - you can't game this system to your advantage, and second it's incredibly risky - maybe by the time a person reaches their goal sig campaigns will disappear or cut their payments - as the result hundreds of hours will be wasted.
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It's not good enough to just say "we need more stores to accept it". Stores aren't going to accept it unless there is demand for it. Go and create demand for it. Ask to pay in bitcoin. Spend it where you can. If stores start seeing their competitors' bitcoin income increasing, they will soon take note.
It's like a chicken and egg problem, there's a perception of low demand because it's hard to spend it. Most people aren't going to drive for half an hour and perhaps pay suboptimal prices just to promote Bitcoin, it's just way too burdensome, but if they had such stores nearby, they would be more likely to shop there. |
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Politics all aside, nothing adds up. The US has been wanting Oil from Iran for years now, and this was somewhat of another failed attempt at it. Iran's tariffs are to be increased, and also, if things do go Haywire, Russia and China have Iran's back, they have held "Naval drills" in the Gulf of Oman.
Now considering all of this, how is an economy like Iran going to stand up against the US? And how is the possibility of another World War contribute towards the whole global economy? I am still intrigued on the possible outcomes of how a modern-ized war will affect the overall economy. Also, could it be possible for Trump's attack on Iran be more of an Economic move than just mere politics? Something has to be there, right?
Note: Don't spam.
The US doesn't care about Iran's oil, they have plenty of their own oil, and oil itself will be less important in the future because of the rise of renewables and the threat of climate change. This whole incident with Iran shows that no one wants WWIII, Iran didn't escalate after the killing of their general, the US didn't escalate after missile attacks, Ukraine and Canada didn't escalate after the plane got show down, Russia and China did absolutely nothing all this time. Look at the history of WWI - all countries wanted to go war, and with WWII Germany and Soviet Union were very eager to go to war, but this time it's nothing like that. As for impact on the future and economy, it's really pointless to talk about it, there's way to many scenarios - maybe it will be nuclear apocalypse, maybe the war won't be that destructive, and without knowing who will win it, you can't know how it will impact the world. |
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I don't know Norway's laws, but generally in defamation cases it's not about simply finding if statements are true or not, but also if they caused damage to someone's business. In reality, it's very hard to prove it, so if there will be trial in Norway, it will likely not be about whether CWS is Satoshi or not, just like the ongoing case with Kleiman isn't about it too. But regardless of how it goes, CWS will lose, he's just a troll.
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Usually when celebrities are known to be using something, it's because they are advertising it and they are getting paid to do so - but with Bitcoin there's no company that would do so, and I doubt that even the biggest exchanges would reach out to celebrities in the future. So, we have to hope that some celebrity is a natural fan of Bitcoin and would promote it because they believe in it.
By the way, I once watched a rather popular Hearthstone streamer, and she said that she's a cryptocurrency supporter in her bio, and she accepts donations in crypto. Dunno if it qualifies as celebrity or not.
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Reports state that the transaction fee comprised 0.0096 BTC ($80), which is relatively high. Notably, the transaction data in the blockchain shows a fee of 0.00005578 BTC. For comparison, a SegWit transaction of 40 000 BTC ($230 million at the time) in May 2019 was worth 0.0001 BTC or $0.57.
BitFinex’s transaction prompted @Rhythmtrader to praise the “true power of bitcoin” that no bank could match.
Only newbies are astonished by big transactions and their small amount of fees, anyone who has at least basic understanding of Bitcoin knows that there's absolutely no difference how many coins you move, so there's nothing spectacular about such transactions. As for "power that no bank could match", banks don't charge any huge fees on people who move billions, and such large transactions do happen frequently - large companies get bought, countries do transactions between each other, billionaires make donations and so on. |
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CWS counts on people being cryptographically illiterate when he presents "proofs" like this, just like how he presented invalid signature to those journalists back when it all started. And unfortunately, a huge part of cryptocurrency community doesn't understand cryptography in the slightest, all they know is that private keys should be kept secret and not much more. Plus to newbies news sites are a sort of authority, if they report something, that it must be true - it works like that in real life and it's the same with crypto.
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It's a good example that explains how blockchain works by building a baby blockchain in one of the simplest and most popular programming languages, but it's important to understand that the presented code isn't practical, this blockchain lacks file system support, it doesn't have networking, it doesn't have transactions, scripts and so on. You won't become a blockchain specialist by reading articles like this, you'll have to dig much deeper.
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Getting banned on twitter is no big deal, usually the first few bans are a warning - you can remove them by following their instructions, usually they just send you a link to your email. It's their way of telling you to stop doing what you are doing, or else you will be banned permanently. This is just another reason to avoid bounty hunting, not only the payments are bad, you will also have to work to constantly farm your social media accounts as they get banned from time to time.
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This doesn't really make sense and seems to suggest the opposite of what you're claiming. What power would criminals have to keep the government making cash?
If the government stops issuing it then there's nothing they can do unless they invent their own paper currency. People complaining, and especially criminals, isn't really going to make a difference and I don't think that would be an issue as cash will just become obsolete gradually over time naturally so it's inevitable it will disappear eventually as people will just stop using it and criminals wanting to tax evade obviously isn't a reason the government will keep printing and minting it.
It all hugely depends on a country, if Sweden announced tomorrow that they start removing cash, there would be some angry posts on the internet and maybe a hundred of protestors, if the same happened in Greece, there would be riots. But I agree with your point that cash will be slowly and naturally fading away, and that's how Bitcoin will start getting more attention - people will view it as digital cash. Bitcoin is not a part of cashless society, it's a direct opposition to it. |
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If bitcoin later becomes a traceable currency or can be tracked by the government. I think the fate of scammers might be dangerous for them to trick people with their illegal activities because there will be chances that they could now get arrested or go to jail and the money that they stoled would return.
Dont be deceived by the decentralized in nature of bitcoin because Bitcoin transaction are still traceable since all transaction are ever saved on blockchain ledger and if bitcoin tx are not traceable those online previous crypto scammer who're once captured wont be and there will be no need for the use of bitcoin tumbling site. It's also a misconception that Bitcoin is completely and easily traceable - when you know what you are doing it's actually quite hard and expensive to trace transactions with existing tools, which is why scammers, hackers and other criminals walk free - its just not worth the effort, unless the crime is truly large. It's also easier to hide smaller amounts of coins than larger amounts, so that's another reason why scammers are getting away with stealing bitcoins. |
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It's logical to think that when fiat currency loses its value, Bitcoin will go up, but people forget that when fiat currency loses its value, it's usually in single or low double digits of percentage range, while Bitcoin moves in those magnitudes almost every week. So, om practice its a very unreliable hedge, you can easily lose even more money in short term, and people who look for hedges seek to reduce risks, not increase them even if there's a good payoff.
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Digital payments are the future, but probably not bitcoin. Cash will almost certainly be obsolete within our generation and one of the only complaints I've seen from people against getting rid of it are old people who still use cash because they fear or don't understand the tech, but in 20-30 years when they all die off they'll likely be no excuses, but this all doesn't mean that people will be flocking to bitcoin. Have you ever seen anyone using bitcoin to buy anything in the real world? Nope. It's rarity unless it's a niche shop that accepts bitcoin and people go out of their way to find it or shop there. People mostly just use their debit/credit card or phone apps these days and that's what they'll continue to use, though I guess we might see bitcoin integrated into these payment processors eventually as they become more popular/prevalent and the merchant just gets the cash equivalent. Eventually there might even be things like RFID implants or other sorts of devices that include them (bands or rings etc) that people will use to pay with but I think phone payments will eventually reign supreme because lets face it, nobody really leaves the house without their phone on them.
If we take just western world, there's still a huge contrast between countries that are going to be nearly cashless soon and those that still cling to cash and don't hurry to switch away from it. Probably the single biggest reason for staying with cash is tax evasion - merchants accept cash to avoid reporting transactions, employers pay salaries in cash to avoid social security taxes. As long as people will want to evade taxes, cash will exist, and it could be very hard for some government to fight it, attempts to quickly jump to cashless society could be met with protests. |
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Given the confusion that prevails among beginners and their susceptibility to trust high-ranking users very easily, I would like to warn them that there are those who take advantage of their position for some personal reasons.
And there's also a lot of false information that isn't spread with some malicious intent, but simply being a common myth. For example, I often see people say that blockchain technology is great and will change the world and Bitcoin is less important compared to it; I see people saying that Bitcoin is fully manipulated by whales or that Bitcoin should increase its blocksize or reduce block time to make transactions faster. Newcomers often skip learning the fundamentals and just believe everything they read on news sites, blogs and from other users, and sooner or later it will bite them in the ass. |
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This surprises me. The only stuff that makes money in 'blockchain' are exchanges and conning VC investors into throwing money at any old shite. I would've expected it to have gone quiet for now at least.
If IT burns through qualifications at a furious pace then 'blockchain' has only just gotten started. What'll be put into actual use in a few years will likely bear zero resemblance to what they're playing with now.
The only area of 'blockchain' I'd be specialising in at present is bankruptcies.
You are right to doubt this report, I feel like it might be quite misleading, like why they say that it's the most popular skill of 2020 and compare it with 2019 if this year only just started? Maybe what they see is some short-term spike on popularity, perhaps caused by the recent pump across the crypto market, and this hype will disappear quite soon. |
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You have to understand one thing, people care about their time a lot and they hate trying things that can't be done with 2 taps.
At the same time, they hate when dealing with money not to have someone to complain about, not to be able to blame mistakes on somebody, not to be able to issue chargebacks and a lot of other things.
That's why payments with cryptos are still stagnating and more and more embrace the safekeeping side of them.
To be able to compete with the new systems and even with cc, crypto payments need to be fast, easy and cheap.
And unfortunately, unless you go through a 3rd party they are not, and once you go through a 3rd party the costs of that operation come into the story and ... we're back to where we left with the only change that we're not calling them banks but crypto something...
If there was some good incentive to use crypto, a lot of people would learn to use it and wouldn't view it as a chore, but there's a huge disconnection between Bitcoin's values and regular people - no one cares about inflation unless they live in a country that experiences a hyperinflation, no one cares about privacy, and no one is paranoid about banks and other middlemen. People simply don't see any benefits in using Bitcoin for payments, so it remains a niche option for those who care. |
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Right now Bitcoin is a huge percentage of my net worth because I'm still young so I can afford to be reckless. If Bitcoin went to zero tomorrow, it wouldn't completely ruin me, I still have a lot of time till retirement. But the potential payoff is huge, if Bitcoin goes to the moon, I can retire very early and live off some sort of passive income that could be created after I would cash out most of my coins.
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