No, I am saying that most threads under that category contain subjects that are too common and generic. Relatively, even if people where to comment in that thread and provide useful information contributing the forum then why not give them a merit? But the number of individuals who provide useful information compared to people who just spam under those categories are low, which is quite saddening.

Unfortunately, most categories like the bitcoin discussion forum, economics, gambling and other relevant titles contain threads that are too generic and common, perfect for individuals whose purpose are to complete their required quota under the rules of their signature campaign. Unlike here in the Meta section, most discussions (like this one) revolves around the discussion of actual things that happen here in the forum and not some poorly-made threads.

Generalising that the 'merit system' failed to do its purpose is too fallacious. No system is perfect. If there exists a perfect system in the world, I doubt that corruption and chaos would occur. While the merit system cannot fully answer the problem of shit posting and spammers, it at least mitigated the damage and added a new type of reward wherein people rank-up depending on the usefulness of their replies. Hope that clears any ambiguities you have in mind.

The sad reality is, people are asking for merits for the sole purpose of ranking-up their accounts in order to earn income. Most individuals here in the forum are focusing on earning money, rather than contributing to it. I know earning alternative income is relatively good, but when people beg for merits it destroys the purpose of having this forum.
Regarding with their mentality, people would exhaust everything just to earn alternative money and begging for merits may be their solution (which I believe seems to be desperate).

I doubt about it. Creating a cryptocurrency would originate from the blockchain technology, which in fact cannot be regulated. By this, it's like the government is contradicting their own platform against a currency that cannot be regulated. But this is highly debatable and depends upon the conditions of the government with their stand against cryptocurrencies. For example, Japan has been keen and supportive towards bitcoin and I believe that they are developing an international process of payment that relies on bitcoin as its basis.

Just to give you the summary, here are some countries regarding their legality towards bitcoin:

• China - Some ICOs were restricted and the country has issued some implementations about the utilisation of bitcoins. Since they are also considered as one of the biggest bitcoin population, their restriction resulted to a massive decrease on the price of bitcoins before.
• Hongkong - The country accepts bitcoin as the CEO of HKMA said in a statement that 'bitcoin' is just a virtual thing. They do not see it as a threat as of the moment and the country is probably lenient towards it.
• Indonesia - The Central Bank of India has issued a warning about bitcoin, stating that they do not see it as a currency and people utilising such may break the laws. Due to this, cryptocurrencies in general are not acceptable to the country.
• India - The status of bitcoin in India remains uncertain as the government is reluctant about its use. The government had issued several statements and warnings when using bitcoin onto transactions.
• Israel - Fortunately, the government has not yet issued any warning statements or prohibitions with regards to bitcoin. They even stated that bitcoin may be used as a tool for lawyers as a legitimate instalment strategy.
• Japan - The country accepts bitcoin as an alternative currency and they see its potential in the market. The government acknowledges its utilisation while being supportive to cryptocurrencies as well. They also encourage the general public into utilising such.
• Kyrgyzstan - According to their national law, the use of bitcoin or cryptocurrencies is illegal.
• Philippines - The BSP (Central Bank) issued some statements regarding transacting into bitcoin as it poses risks to individuals. Nevertheless, the BSP has not regulated cryptocurrencies in general and the country's lenient towards it.
• Singapore - One of the few countries who see bitcoin as something that is beneficial to the public.

Here is the link if you want to view the whole legality of bitcoin in ASIA: http://www.coinnewsasia.com/legality-by-country-asia/
[/list]

It really depends on the status the status of cryptocurrency in general. If the government issued or implemented a law prohibiting/banning cryptocurrencies, then bitcoin and altcoins would die down together. But if they ban specifically bitcoin (which I think is absurd), then altcoins may recover and take the spot at the top. Another thing, bitcoin has been around for years and it has built its foundation and reputation due to its revolutionary payment system and transactions. In the event that altcoins develop a system that overpowers bitcoin in every way, then they might have a chance.


Definitely. Bitcoin would still dominate the market maybe 5-6 years from now depending on the circumstances of cryptocurrencies in general. But there is always that possibility of altcoins taking the spot at the top if the factors call for such possibility, like an imposition of a world-wide ban on bitcoin specifically or an enhancement in the blockchain technology that beats in bitcoin in every way.

Yup that is very sad to hear but I believe that these gamblers should understand the repercussions of betting. The problem with their mindset is, they think that gambling would answer all of their financial conflicts and problems. They rely on 'risk' rather than earning money from work due to being time-constrained. On the other hand, there are also gamblers who see gambling as a form of entertainment. This type of gambler has the discipline of knowing WHEN TO STOP betting as they only risk their money that they are willing to lose.

Bitcoin prices would definitely recover its value given the right circumstances and time. Since most cryptocurrencies are starting to grow each year, we could expect prices to pump maybe around months/years from now. In our investments, we must focus on the long-term side rather than going for short-term. But if the opportunity arises in a given time-frame that short-term investment would yield a larger profit, then why still wait? Bottomline is, the price of cryptocurrencies WILL REGAIN ITS VALUE.
Like what the title suggests, positive thinking would bring positive things.


Remember what happened before about bitcoin being a gateway for illegal transactions under the dark web? That Korea prohibited ICOs in their country and imposed regulations that would require a strict compliance? That famous investors like Warren Buffet told that bitcoin would soon pop? All of these contribute to bitcoin's price but surprisingly, even after its significant decrease on the price, it slowly regained value. That is why I believe that prices would recover soon.

Just to add, here some ways on how to furtherly promote cryptocurrencies in general, for its continuous development and enhancements:

• Most people are active on social media; by promoting it into some websites, the knowledge about cryptocurrencies may be spread and diversified;
• Teaching cryptocurrency as an elective or as an alternative class into universities may potentially support its development for future use;
• If the government may establish a platform benefitting cryptocurrencies, then that would be the first step towards its widespread around the globe; and
• By slowly accepting bitcoin as an alternative payment into some establishments or retail stores

Though those are very idealistic, personally, we would adapt towards the digitalised form of payment and bitcoin would inevitably be the key towards this implementation. The issue regarding transactions, however, is it takes time for one to receive bitcoin. This may pose a problem into some business establishments and would likely cause conflict among customers. Lastly, economic discrepancies between countries hinder the development of a digitalised form of payment but this would soon be implemented in the future.

As far as I know, cryptocurrencies in general are facing a lot of controversies over the past years including the Silk Road case. Here are some scenarios that happened before:

• The ICO banning in China which significantly decreased bitcoin prices;
• South Korea's prohibition of cryptocurrencies which resulted to a closure of some ICO companies;
• Silk Road drug case way back; and
• Country prohibitions from some countries that resulted to a negative impact to its price.

There are still some examples that I have not mentioned but over the past years, bitcoin has withstand all legal obligations and issues raised from country to country. Though we cannot deny the fact that it resulted to an adverse effect on its price, slowly, bitcoin has been regaining back its value despite all of these adversaries.

Like what I commented on most threads similar to this, the decrease on bitcoin's price is not a new phenomenon! There are a lot of factors that may decrease its price on the markets, especially when the governments of some countries intervene with its process and transactions by imposing regulations and tax impositions but prices would soon recover after months/years. It may be upsetting to see your initial investments lose value at its first 2-3 months but the goal of investing into cryptocurrencies is to garner large amounts of profits.


To be honest, most people that invested into bitcoins are to ones who are not knowledgeable on cryptocurrencies in general and its market. Due to the hype caused by social media and news, people see bitcoin as a 'short-term platform' wherein one can yield profit in a short amount of time! This may be true in some cases but understanding cryptocurrency is more than that. In order to at least maximize your profits, you need to be productive by studying the market price dumps.

It really depends on the reason why bitcoin has been banned in the first place. If most of the countries have imposed a ban on cryptocurrencies in general, then expect alternate coins to die as well. But if the reason involves the 'hype' of bitcoin and its volume decreasing, then another competitor might be the reason for that sudden change of heart. Personally, there exists this direct proportional relationship if bitcoin prices to alternate coins as well in terms of market pricing that when bitcoin decreases, they follow as well (highly debatable).


They may not be FULLY connected but they are still categorized as cryptocurrencies in general. If government institutions around the world impose a ban on it, then bitcoin and altcoins would die together. In terms of the price, they may be independent but they still use the blockchain technology as the pathway for transactions.

It really depends but you have to take into consideration the economic discrepancies between countries. There are still countries that use barter-system as their way of transacting into things. Developing a single currency throughout would lead to chaos and disaster into markets due to hegemonic states being able to control and manipulate most of the value of the money. One might also argue that using a single currency would be difficult as every country has their own gold-reserves, which determines the value of their money in the market.

Asking for a merit for every post that you make would totally defeat its purpose of blocking/avoiding spammers in the forum. The purpose on why this system was implemented was primarily for the decrease of spammers/abusers. A lot of people are making useless threads/comments which detriments the sole purpose on why this forum was created. If you really want to have merit points, then try your best to make meaningful comments that would benefit the forum and other people as well based on your knowledge and understanding of cryptocurrencies.
Hope that answers your question OP.

Here are some factors that I think that you need to consider on why bitcoin prices are very unstable at the moment:

• Country prohibitions and law regulations have been implemented into some countries, including laws that are prejudicial to bitcoin;
• Panic selling in India due to significant price drops into the prices;
• Market manipulation caused by most whales; and
• Potential hacking schemes happening in the internet

Though there some reasons that I did not mention that contribute on why bitcoin prices are low, take this time as an opportunity to invest and buy coins for future investments as I believe that it will regain its value maybe months/years from now. Just focus on holding and accumulating more coins for large profits. Do remember that only invest the money that you are willing to lose.

MOVE ON. Just accept the fact that you cannot recover your losses anymore and just move on. Yes, it may be hard to swallow the losses but that's one of the risks that you have to accept when gambling. We may realise big profits from gambling but we may also incur losses at the same time. Another thing, you should know that gambling creates this endless illusion of betting regardless of your winnings or losings. Lastly, you should know WHEN TO STOP gambling as this is the primary reason on why most individuals tend to be bankrupt.

If I may ask, did he check or at least research before buying bitcoins when the its prices where around that line? I mean, by just looking at the price history charts he may be able to observe that the jump on the price was abnormal and was bound to decrease in the coming days. Another question, what are his goals on his investments? Is it for short or long-term? Personally, I would not sell my bitcoins even if I incurred losses at this point since prices may still recover in the following months/years.


You may incurred losses at this period but if you are not in a rush, then let time do its magic. Slowly, countries are now adopting to a digitalized form of payment into transactions and bitcoin may be the gateway towards this development. Just wait for the time being in order to minimize your losses.

I guess the 'hype' on social media and from other news have created this stigma that bitcoin will soon pop. The problem is, most people that invest into bitcoin are the ones who have no knowledge or anything whatsoever. They let the media influence them from investing rather than checking the actual market of it, which makes the volume increase/decrease out of a sudden. Also, they see bitcoin as something that may yield them income for short-term.

The funny thing is, most people that I know that are complaining about bitcoin being 'dead' and 'hopeless' are also the ones who told me that they regret investing into bitcoin when prices reached $20,000. If they cannot handle the sudden price drops (which something that is natural or depending on country prohibitions) then they should invest into a different aspect like stocks, bonds, bank interests, etc.

As of now, bitcoin prices are still on the $8,000 mark. From time-to-time, the price changes due to its high volatility but I consider TODAY as an opportunity to buy more coins. Personally, buying and holding would be the obvious choice and I am basing this decision on the price history chart of bitcoin. Who knows, maybe by next month prices would skyrocket up to $10,000 and that would yield me profit.


To be honest, bitcoin prices are very volatile as of the moment but take this as an opportunity to buy and hold coins. I doubt that prices would be stable at some time given that a lot of countries are starting to regulate cryptocurrencies in general.
Also to maximize profits, you need to be updated to the recent price gaps to avoid losing most of your investments.

Firstly, tax imposition on cryptocurrencies primarily depend on the laws you have in your respective country. All countries have their own stand against the regulation and tax imposition on cryptocurrencies; your obligation now is to be responsible and diligent enough to at least check if your country approves on cryptocurrencies. But in general, I believe that cryptocurrencies in general aren't taxable due to their decentralized nature which makes them the perfect medium for transactions.


Yes, it really depends on the country's law regarding cryptocurrencies. Just to add, if cryptocurrencies would be taxable then expect prices to decrease on a certain level. The prices also may be controlled in some-point, which makes it no different from other investment options.