A news from ABS-CBN, a Filipino Media and Entertainment Group.
MANILA - An investor who saw a 39,000-percent increase in his bitcoin investment warned on Monday that many cryptocurrency investment schemes right now are scams.
Emerson Fonseca, Philippine head of NEM Foundation, told ANC's Market Edge that since he started trading bitcoin 2 years ago, a lot of scams have cropped up because people don't understand cryptocurrencies.
What are your opinions?
A 39,000% increase rate is so hilarious. I think this is just a scam and those people behind it are just using the name of bitcoin for self interest. We should be aware and observant because using other's name/label/identity to fool other people is a page from a child playbook. Before jumping to the cliff, always make sure you will jump in the right one and not just in some mislabeled holes. |
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I had arguments with my friends who are always tagging bitcoin with negativity. Today, we argued and I educated them on bitcoin and Ponzi scheme. To me Ponzi scheme is when developers takes money from new entrance to pay early birds,rinse and repeat until they raise enough and vanish. But bitcoin is not like that. Do you think I am right?
Bitcoin is very far and very high from the level of ponzi schemes. Ponzi schemes are just illusion of money circling. Bitcoin is much more greater and more has a logical system that follows. Bitcoin already has established value long before it became popular in the market. Bitcoin is an innovation that really helps and improves the monetary system. |
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Many countries think that Bitcoin is harmful for their country. They think that Bitcoin will create inflation in their country. But is that right? Will Bitcoin never get all the legitimacy?
Good thing, there are also countries that support and believe to bitcoin and the whole industry of cryptocurrency. It's just matter of jumping to the risks of this industry and using them to create more opportunities. Japan and South Korea are just examples of nations who are wise and bold enough to take this market further and encourage their own economy to adapt on it. |
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An economy is a zone of the production, appropriation, or exchange, and utilization of merchandise and enterprises by various operators. Comprehended in its broadest sense, 'The economy is characterized as a social area that underlines the practices, talks, and material articulations related with the production, utilize, and administration of assets'. Monetary specialists can be people, organizations, associations, or governments.
\ Economy is the wealth and resources of a country or region, especially in terms of the production and consumption of goods and services. Currently in the Philippines, economy is still developing. People starts to invest in different market, and one of this is Bitcoin. Bitcoin is starting to widens and spread out to the people, many people invest with this since of this popularity and the evidence that they see that most of bitcoin users become well-off. |
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Apart from reaching a new ATH, bitcoin is also regaining dominance vs other alts. It was halved between March and June and bitcoin has been slowly regaining it but lately seems to have received a boost.  Source: ( https://coinmarketcap.com/charts/#dominance-percentage) Any ideas about why this is happening? I don't think Bitcoin will go down easily or maybe go down down. Since it dominated other crypto, it would be difficult to surpass their dominance. Other new crypto won't last longer, just a your suitor who just only good at first. Since Bitcoin have something established, it would be difficult to others to surpass them, even to be leveled with them. |
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I see that many of you actually liked the concept of 20 % method wherein you allot 20% of your earnings to be saved as emergency fund.
So I was thinking, if that 20% allotted will be invested in a time deposit kind of account, will it still be possible to earn as much or invest it in cryptocurrency? Or maybe just let the money sleep until such time you will need it?
What will be a wise kove to do with the noney you have saved up?
People can (probably should do it!) put some investment for the safety of their money. There is a lot of different market that people can invest off - they all just need to be knowledgeable enough where do they put their money off. It is more better to risk to something rather than to just keep your money in a box which no profitable things up. Just be wise enough to find a good investment. and I do think Bitcoin is one of them. |
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Most people's post-bubble belief is that Internet stocks are stupid and worthless. Just as many scholars now look at bitcoin.
Most people listen to other people's attacks and choose to ignore them instead of digging deep into the amazon story.
This is a mistake of lazy thinking.
So when you see the same thing happening in bitcoin, you can try to do something different with most people.
Ask yourself: "why is the market still buying assets that claim to be worthless?"
"Is the bitcoin bubble the same as the tulip bubble?
You will eventually find that the real value of the asset, after the bubble, returns to the value of the asset itself.
And the next wave is coming back, reaching new heights.
How do you see the fall?
As the demands become high the price become high - a simple economics. As people demands with Bitcoin become high the price will always be affected and it will change. Basically speaking it is a natural phenomenon in the world. Changes in this kind of business is unidentifiable - no one can sees what do might happen next. So might as well be intelligent enough to know where to invest or not. |
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We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.
Change is something we need to be able to developed. Changing also means adapting to the demands of today's society needs. If banks will consider to offer us Bitcoin, I think it should be a win-win situation to the both of the bank and their clients since we all know that banks thinks much bigger profit for themselves and just not totally consider the clients they have. But on the other side if the banks will also decide to offer Bitcoin, I see that the Bitcoin will be more convenient and demands for the Bitcoin will be high making it to prolong its years in the industry. I hope banks will considered the benefits they gain in Bitcoin a fairly play with their client regarding with this. |
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Seoul Mayor Plans to Unveil Better Self Crypto for Stratup Blockchain.
Park Woon-soon has announced that South Korea will launch its own crypto and create a better environment for startup companies Blockchain and cryptocurrency in the country. He wants to form a blockchain that is oriented like a startup industry and focuses on developing Seoul's cryptocurrency, 'S coin'.
One of the reasons for the development of 'S coin' is to improve the transparency of governance that exists there. Although the Korean government initially applied very strict rules against cryptocurrency.
what do you think about this? is this good news about the development of cryptocurrency in the future?
yes, this is good news for the crypto world, Korean country is a country that has a great attention to the world of crypto. even already many games that use blockchain system. the people there already aware that the crypto world will be able to stabilize their lives. so the government responds well to public demand. It is very good news especially to all bitcoin users and I hope in my country the government will also create a project cor cryptocurrency so that they can reduce poverty and they will also our economy to grown up. In addition to that, I think this news will have positive in bitcoin and in their industry. |
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Before you enter the world of cryptos, it is necessary to have a background before you shell out money. Study what make cryptocurrencies unique. Know the advantages and disadvantages; how to transact bitcoin and other cyptos.
You need to have a lot of knowledge about investing if you want to go in invesment. Investing in bitcoin is good investment but it is also risky because the price is not stable. In addition to that, I agree you must know what is the advantages and disadvantages of bitcoin before you invest. |
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Hi there! I just need your advice. I invested the money instead of paying my school fees. Yeah, i know this is wrong because education is more important to us and it can't be stealed from us, i'm still studying but my fees will be doubled on the next payment. But i believe this will end a good result. What do you think about this ? Your advice will be highly appreciated. Thanks!
This is one of the stories that I really don't know what to feel because should I be sad because he risks an important thing for it or should I feel proud that he took the risk? And I found myself asking if I were in that situation and that idea cross my mind, would I do it? There are things that should never put at stake and this, education, is one of it. I hope you still do great right now. |
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I would like to know if cryptocurrency will replace fiat money in the future, also if so how long it will likely take. Also, I would like to know which coin you think would take over if one will. (E.G. Dogecoin, BTG, LTC, XMR)
Like most of people in this community, I dream that cryptocurrency will replace fiat in the economy but that will long way and I might be even dead when that happens. But I still hope I can be part of the process. Hopefully, there will be enough number of cryptocurrencies to meet the demand of the future market. I am not sure which one will top in that time but I hope it will be great no matter what. |
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So Bitcoin's market dominance in the cryptocurrency world is currently at the lowest level ever with 36.1% of the total value.
In my opinion, it's because the interest in alternative coins is rising rapidly for one, but you also have to consider how much of the bitcoin world is criminal. Seriously, for the first 5-8 years, the digital currency was mainly used as a means for criminals to launder money and sell illegal goods on the dark market. Think of all the massive hacks in the early days also, and all those darknet markets that disappeared with huge amounts of bitcoin.
Literally millions and millions of the 16 million coins out there would be owned by criminals. And now with bitcoin becoming more centralized and less anonymous, they are swiftly exiting the market and looking for alternative dark coins.
I also personally avoid using bitcoin all-together because of the extremely slow transaction speeds and high cost's associated with it.
The bitcoin mining business is dust, so that interest will die quickly.
I just don't see a very bright future for the god of cryptocurrency and it will surely be surpassed by one of its rivals soon enough.
I'm torn between predicting it to be Dash, or Ethereum, and I recon it could be about 2 years before that happens.
Would love to know peoples thoughts on the future of bitcoin.
Where will bitcoin be in
2 weeks?
2 months?
2 years?
Will it be surpassed by another coin? If so, which one and when?
It is hard to see the future of cryptocurrency and which coin will be on the top of the economical food chain. The only thing I am sure of is that our society will demand this innovation because of its efficiency. I really believe that we can revolutionized the market through the block chain technology. The process is slow but I know we can reach it in the future. |
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I was invited by a friend of a friend to invest in Bitcoin last year. He told me that if I invest 5000 in our currency it will be doubled in a month's time. He also promised me that I will get referral fees and override from every person I introduced to Bitcoin and that prices of Bitcoin are expected to increase. To make the story short I did not join because I believe its a pyramiding scam. Truth to be told I did my research on Bitcoin after that and it turn's out that Bitcoin's price was really on rise unfortunately I did not invest at that time. Currently I'm learning more thru this forum and I thank my friend for inviting me here. Just last December I heard from one of my friends that the company they joined was in fact a pyramiding scam and the money they invested in just vanished out of thin air together with the people who invited them. We should be wary of people offering investments and opportunities to us. Do your research. Opportunity comes with risks as well as the rewards. If its too good to be true, it might be a scam. Bitcoin is not a SCAM but there are people who uses Bitcoin to SCAM other people. Good luck to us and more power to Bitcoin!
Trust is really a dangerous game to play in any business opportunity so you better be wise where you will put it. Events like this ruins the publicity of bitcoin as the public often blame the tool and not the person. Hopefully, the public will realize this and they will be more aware that no matter how good a system is, if it fall in wrongs hands, things will get dirty and tricky. |
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Bitcoin is indeed risky. But bank investments are risky too. In our country (coz I'm not sure if this exist in other countries). When you have a large amount on your account they will call you and ask you if you want to invest, minimum of 20,000 Php (or 400 USD). They will propose some investment plans where there is a choice of low, medium, or high risk investment. When you choose the high risk there is a chance to lose or gain 100% of your investment (Medium is 75% and low is 50% if I remember it right). It doesn't make sense to me, it sounds like a scam, they will invest using your money and you don't have any control to it. That is why I like bitcoin more, coz Though it is risky and it's very volatile, you have full control on your investment.
What do you guys think?
Bitcoin is definitely risky but only if you don't anticipate the play on the demand during holiday season. Banks just store your money there but in bitcoin, it will grow. The risks of volatility is worth it because the income is much greater. So if you will invest, use only the money you are willing to let go and never ever try to risk properties you essentially need. |
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A lot of posts are about bitcoin (eg bitcoin for illegal transactions ... bitcoins change lives ... bitcoin destroys the world ... bitcoin poison and so on) but basically it's all humans that move .. bitcoin is the tool. Good bad how the tool is how the man who runs. is it worth blaming bitcoin. What is your opinion?
This innovation will surely receive a spectrum of critiques and controversies so I am not surprise that people outside this vehicle throw rocks at our economy. I don't consider myself a driver but rather I passenger. I let Natoshi Yamamoto to drive even though I never seen his ID. But I trust him because I trust this car and I trust that it will take us to success. |
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Bitcoin has a huge demand among thousands of investors who dream of a non-cash future, and now they are investing in digital currency, not traditional means.
The first crypto currency has already turned early investors into millionaires, and tries to do everything possible, if only the many thousands of people radically changed their views on traditional markets and investments in general. Although those who use and support bitcoin still make up a smaller percentage of the world's population, in the millennial generation of investors, the number of young people who turn away from traditional financial empires is growing. If this trend continues, it could mean an absolute collapse of the banking system, as it continues to adhere to outdated algorithms. Until now, there is some way, until even the most seasoned investors are completely free of traditional banking and monetary institutions, but today they can already control their future in terms of investments. Since it is easier for them to manage their own savings plan by investing and reinvesting new technologies. Although they continue to deduct a certain percentage of the usual pension fund, and their accounts still have to be paid through a bank account, but investments in crypto-currencies have become for them a central part of savings.
The next technologies always outdated the current ones so it will be not surprising that cryptocurrency has a great potential in the coming years. Slowly but surely, the block chain technology will make its way in the economy and change how we function in the market. There is still a lot of room to grow and I believe cryptos will still be improved to meet the demand of the future society. |
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COUNTRIES THAT BANNED BITCOIN Before we start to our topic this I want to tell that some of you might know about this but I just wanna share this to those who are not. Several people believe that bitcoin was a blessing and it was an opportunity for everyone but not everyone shares the sentiment. From central banks and other finance company, Bitcoin's list of detractors runs for a very long time and gone so deep.But most of the government around the world seeks for the regulation of bitcoin. Be due to fear,ignorance and protectionism, governments have a tendency to legislate against perceived threats.Countries such as japan protects its citizens to have free trade of the digital currency.But unfortunately not all countries embracing the change of our technology.In some cases citizens have had their assets seized,accounts got frozen and have been locked up, Government can't stop the blockchain from propagating, but they can stop their people in having access to it. STOP THE BITCOIN!! Like banning drugs,alcohol and other stuffs banning bitcoin sounds nonsensical and unforceable.That's the exact case in five countries: 1. Bangladesh2. Bolivia3. Ecuador4. Kyrgyzstan5. NepalIt was recently reported in https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/ that there were dozens of bitcoin and crypto enthusiasts get imprison seemingly guilty of little more than operating a small-scale bitcoin exchange. Meanwhile Ecuador has outlawed bitcoin, nit because they opposed this crypto but because they want to regulate and control it and tether it with the Ecuadorian dollar.An Electronic money designed to operate ad support monetary scheme dollarization.Completing the naughty list of countries that have banned bitcoin is Kyrgyzstan, a tiny landlocked state in Central Asia, And Bangladesh banned bitcoin, it was 2014 where Bangladesh bank stated that anyone that will be caught using such online currency could be jailed mostly because it's about "MONEY LAUNDERING".this was already an old news for updated list https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territoryso what do you think? will your country will ban the use of bitcoin? do you know other countries that ban the bitcoins? Please share it and tell to everyone  Those five countries have opposite view with these countries: Japan, Estonia, Singapore, Australia, and South Korea, about this topic. I just want to say that bitcoin is really far from those scams and I am glad that there are nations that can see the beauty of cryptocurrency. I think we should work hard to help rebuild the image of this industry by inviting more people and spreading knowledge. |
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Why, until now, government all over the world still doesn't trust bitcoin?
May be because they can't regulate it nor put taxes on it so they fear that they lose the money that they are never been part of working with. Fortunately other countries like Japan, Estonia, and Singapore are friendly to this innovation. I still hope that other nations can still give this technology a chance to prove itself in the economy. |
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In recent times, some new ICO companies have been kidding about Bitcoin on Twitter, Facebook for their ICO promotion. I think this promotion way is very negative for Bitcoin. They showed that Bitcoin will be destroyed and their token will become number one. They have presented it in such a way that the price of Bitcoin will not rise anymore. I think this type of promotion is very negative in the market.
I think the worst kind of person here in this community is the one ruins others business just to earn more and be more popular in the market. It is a shame that even in cryptocurrency, there are some people that pulls others down. But I believe that this problem can still be resolved and this community can unite to achieve our common goal to revolutionized the economy through block chain technology. |
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