Till the ransomware (or "hack") isn't in the millions nothing will happen and the government wont react.
Governments, regulations, and hacks (like Mt Gox) are the ones that really impact BTC the most. My biggest concern right now are China's authorization for BTC withdrawal, and the duration + high fees of BTC (some rumors going around)
The government already give reaction to this case because the ransomware itself attacking many vital things. It's right that there's no significant impact towards bitcoin but still it's indirectly giving bad image for bitcoin that could make bitcoin struggling to gain more users and increase its demands. Well maybe there is no direct impact of Ransomeware to bitcoins but indirectly a lot has been talked about and discussed. Maybe people are arguing that if bitcoin is declared a major currency all over the world, attacks like this will be more and world will not be a safe place for storing the money. People will feel unsafe with their digital coins as anyone can hack them or demand in form of a Ransom without ever knowing who the thief was .  |
|
|
|
I think at some point in time this can be realized when global acceptance is established and the issues regarding delayed confirmations and huge f es are resolved to th satisfaction of all. It's going to be a tough journey but I'll not rule out the possibility of Bitcoin replacing conventional currency one day.
Bitcoin will soon replace the Fiat and all the paper currency which is currently being used. At the moment this seems a bit unrealistic thing to be happen but then no one thought 20 years ago there could be any digital currency. Things are happening rapidly and many companies are integrated bitcoins into their business. Slowly we are moving towards a totally digital world. |
|
|
|
with that said I strongly disagree with what holiday and QuestionAuthority are trying to convince others about. bitcoin is not some millionaires' money to just move around their $20,000 around the world.
I never suggested such a thing. Bitcoin's use case is obvious. When other forms of value transfer or value storage are censored, Bitcoin is clearly the logical choice. Governments around the world continue to implement increasingly onerous capital controls with no hint of stopping or even slowing down. Bitcoin is the answer. It's ridiculous to think that a solution which requires storing every single transaction in it's history forever is going to be useful for daily, mundane purchases (at least as far as on-chain transactions are concerned). No matter how high is the fee, bitcoin is still the best option for the users and for the governments (if they think in a positive way) too. Now is the time to get rid of banking system and the paper money and move towards the digital era. Blockchain is a bit slow due to increased volume of bitcoin transactions which are taking place every second. |
|
|
|
Its possible that the awareness of wannacry will soften the impact on future victims and expose others that have never heard of bitcoin to it. How ever you look at it, it is a positive in the long run.
Well its a mixed sort of thing. We never wanted that bitcoin gain attention in the media related to hackers attempts news. Although these days we see everyone talking about bitcoin but most of them wrongly relaying bitcoin with hacking which is not right and good thing for bitcoins. We always have wanted bitcoin in the Social media and TV news but with positive vision. |
|
|
|
Yep i find it rediculous too, i don't think this way new people to crypto will start using btc anymore..
yes it is. Many of users right now are getting mad because of that high fee. Maybe can result in to the lose of people who are using bitcoin. Agreed that it is creating frustration among the bitcoin users as they have to pay more than a dollar fee these days but then no one is looking to leave the bitcoins because of the said reason. If you can compare bitcoins with other payment methods, you will find bitcoin is still the cheapest and the quickest method of money transfer that exist now. |
|
|
|
This process is a little bit risky, and we can not save more money. The transaction fee is high for low amount transfer people. But it is a fair amount for high amount traders. The problem is the transaction fee is fixed that is the problem. It should be fixed by how much amount we can transfer means ok. But it is not like that for the small or big amount the fee is same that is the problem.
Bitcoin is not good micropayment solution, transaction fee is now more than $1 which completely eliminates reason behind every transaction lower than $1 worth of BTC You simply do not sent $1 and pay 100% transaction fee. Bitcoin transaction fee is linked to the amount of data being send so as long as it is low it should be better option than standard percentage fee. Blockchain.info shows we should pay at least 120sat/ BTC, yes transaction fee depends on your transaction size. But, more than $1 is higher than some remittance fee and we should wait for uncertain time to get the transaction confirmed. I've been waiting for 3 days but my transaction still stuck on limbo and seems $2 fee is not enough for now, even though my transaction didn't exceed 0.8 BTCYes, the Tx Fee has been increased considerably and what more bad is that even paying 1 to 2$ tx fee, we still have to wait for a considerable long time for the transaction to be confirm. What makes me more worry that as bitcoin is getting used more and more daily, it has become slow in confirming with even more fee. what will happen if it continues like this ?  |
|
|
|
:'(I think that the bitcoin would die if there is no such thing like this forum to promote bitcoin and other cryptocurrencies. This forum has big advantage when it comes to promoting bitcoin through the use of different campaigns, with that lot of users and investors have been interested in having their own coin or investing in bitcoin which makes the bitcoin grow.
I dont think Bitcoin is alive only because of a forum. Bitcoin is a currency and it has multiple advantage and usage. Forum is just used to promote bitcoin dealing companies and information about the coins, but this is not directly related to existence of bitcoin. I always think that Bitcoin is now at a stage where it can never die, no matter what happens. |
|
|
|
This will definitely going to impact bitcoin positively. The way to promote any product is to get it to media especially social media, tv and radios. This will add more value to bitcoin and crypto currencies in general. Hope to see another pump as market is currently at the accumulation stage.
This is strange that a hack has bring the Bitcoin to the media and now everyone has been curious to know about bitcoins and want to get few coins. The hackers for Wannacry virus never thought they could be promoting Bitcoins  . I think no other way was possible and quick to make bitcoin on headlines other than this virus hack attack. The only god thing about Ransome virus is this aspect, else it a bad day for the technology. |
|
|
|
ripple could very well take over bitcoin as it becomes decentralised with less cyphers
Ripple is a good altcoin but it is not comparable to bitcoin. You can see the difference in Volume and price of Ripple and Bitcoins. Even it is no way near the ETH, DASH or litecoin established altcoins. It can be a good alt in future but first it has to compete with other altcoins before given any competition to bitcoins . Even from my point of view, the 2nd best crypto currency ETH will not replace or overcome Bitcoins in next few years. |
|
|
|
Our media here don't even know what bitcoin is so I can't speak about that. I believe that this could be both as good and bad publicity. It really depends on the people watching it. If someone is close minded then he probably will believe whatever he hears on TV, otherwise he will look for it and understand how It works and eventually start using it.
Bitcoin is not being discussed in most part of the world on the media. Although Media most talks about popular personalities and things but i never saw any documentary or talk show being held on the topic of bitcoin, though Bitcoin is the most popular digital currency these days. Lately it has been discuss in the passed week on media but that too on the issue of Ransome Virus. |
|
|
|
You earn bitcoin by some assignments online.
But the most easiest i think is by campaign signature.
Or one can even earn bitcoin with bitcoin faucets.
Yes, joining in signature campaign is a very good choice to earn money compared to faucets around it will make your time wasted, also render some service that you can, putting your skills into something worthy of some coins. Those who have skills can never be dependent on others as they can always earn using their skills. |
|
|
|
Today I made my first account on c-cex exchange and before depositing my bitcoin in that exchange I want to know that will I need any document verification when I will send back that money to my wallet? I only want that exchange to trade for some coins and then I will refund my bitcoin anonymously.
No, we do not need any kind of document verification to transfer funds in and out of C-Cex. We only need a valid email to confirm our transactions. C-cex is a good exchange and i have been using it for more than a year without any trouble. Although it is not as big as poloneix or bittrex but still good for an average trader to trade coins. |
|
|
|
I never use exchanges that keep your funds on their site or have wallets. Coinbase always seemed like it would be the next to collapse for me so this kind of thing will only get more popular now.
Thats a right and safe approach keep bitcoins safe in your own desktop wallet. Storing bitcoins at Online wallet providers like Coinbase is always a risk as they can anytime block your account making you deprive of your savings. They never give you your private key and hence they are in control of your coins. |
|
|
|
Refer: Inside Job.
If this continues and if someday it is really an insider job then the this will be a big disaster event for bitcoin and it could be much worse than Mt. gox, Mt. Poloniex Crisis. It can seriously impact the bitcoin volume and price as poloniex is the number one trading site to-date and there are always 25000+ Users online trading at poloniex with over 100,000 BTC 24hr Volume. |
|
|
|
Bitcoin is good be used for illegal activities because it is anonymous there are no identity needed when use bitcoin, so cash is better than bitcoin for right now due to many problem on bitcoin like this one. Criminals Use Bitcoin Tumbler to “Clean” $645,000 Worth of Funds Stolen Through Banking System https://t.co/S4GPPnr5aVEven for a moment we believe on this statement, can you please then tell us know as before the bitcoins was there were no illegal activity with cash ? Was the world free of illegal activities ? Even today are all the dealings with cash are legal and only the dealing with bitcoins are towards the fraudulent act ? No, My friend. Even Cash is used for illegal activities these days. |
|
|
|
A massive cyberattack leaked by malware developed by the US National Security Agency swept across the globe Friday after computer networks were locked by a program that demands $300 in Bitcoin This may done by any hacker around the forum. Will this be affect the rate of adoption over bitcoin and it's price. Please refer below new york post news. http://nypost.com/2017/05/12/massive-hack-on-uk-hospitals-may-affect-other-countries/The "Wannacry" virus ransomware is really nasty and attacks hospitals. I don`t believe that a forum member stands behind this virus. This is not bad publicity.Bitcoin is just a currency. WannaCry Ransomware is not only targeting hospitals but all the big multinationals worldwide. This is first of the hack of its type which is asking for 300$ in bitcoins to unlock the companies network . What make it more painful for us is that it is asking the payments in bitcoins which may bring bad name for bitcoin itself. I know bitcoin has no part to play in this hack but media will report it otherwise in terms of negativity of bitcoins. |
|
|
|
It would be a great idea if you can advertise bitcoin in TV because b the use of the TV advertisement of bitcoin many people would be aware on what bitcoin is. By that many people could use bitcoin and they will use their money wisely and productively.If Bitcoin will be introduced to the market there would be a productive thing to do.
This is a real good idea and initiative. Currently we are promoting bitcoins only Online on social media / forums etc. Its time we use TV ads as a source of information to spread the bitcoins news around the world. I think everyone will appreciate this idea and we shall see a high response when bitcoin knowledge will be spread in each and every home via TV ads. |
|
|
|
I think the real use of bitcoin is to become an additional currency to our current fiat currencies that are available in the market. Bitcoin is one of the best tool for the people who want to have investment and also money to be used online without having a problems for the taxes because bitcoin is tax free so we don't need to spend or get reduce from our money there.
Exactly, Bitcoin has lots of real benefits and speculation of bitcoin price is only used by traders or investor. A normal person uses bitcoin to transfer money from one country to another free of cost. Previously one has to use paypal, western union and other expensive services which cost them lots of taxes , fee etc but bitcoin has made it virtually zero fee transaction all over the world. |
|
|
|
Just curious, since the Internet is mostly an Earthly thing... would astronauts be able to access and transfer their Bitcoins whilst traveling throughout the solar system?
Well the question is a bit ridiculous but virtually bitcoin can be used anywhere where there is internet. If the internet can be made available in space, then surely there will be no hindrance from using it there. But since mankind has no access to space yet, there is no need of the bitcoins there but maybe after 10 years if mankind establish its existence on space, then surely bitcoin usage will be a no issue. |
|
|
|
I have a question for you. How to make governments accept bitcoin and not see it as a threat? So that one could use bitcoin in daily use, such as paying taxes or grocery shopping. What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?
Maybe be there will be a possibility that the government will accept bitcoin as legal currency because the country japan accept bitcoin as a legal currency so maybe there's a big chance that it could be accepted. Only for japan's government, of course, there's no point for other countries to follow what japan have done. Though japan (only) accepts bitcoin as their legal tender but it's already made a big impact towards the demands of bitcoin, it's a good thing of course. The anonymity of bitcoin itself actually not an obvious anonymous, everything can be traced once the owner of an address revealed, thus, it's actually not a threat to the government, just if they know it ofc. maybe government just consider bitcoin as a threat because it has the potential of taking over their economy and replace the current monetary system, but, who knows?. Accepting bitcoins as a legal currency by governments is not a easy task. It depends upon lot of factors and the most important is the economic situation of the country. Japan and slowly India also moving towards bitcoin legalization will greatly help bitcoin to spread with more positive note and other small countries will adopt automatically seeing the big ones already in bitcoins. |
|
|
|
|
Show Posts
