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How can bitcoin replace oil, is that possible? It is not possible. Oil are used by companies to runs powerful power engines, it is used by automobiles, aircraft and many of such. As of today's world, oil is very necessary. But what can happen is the fact that there can be a time when the world will move away from oil to hydrogen powered engines and other non-oil products, this will be a big fall for oil and oil producing countries.
Bitcoin has been what people are now using to compare gold, gold is still the strongest for now, but as people are moving digital, very possible in some decades now, bitcoin may dominate. There is no much value in gold than people are demanding for it which makes its price to increase as a result of scarcity. If people are later going digital may result to gold marketcap not increasing the way it suppose to be. Also, we can not just make conclusion, we do not know yet what the nearest future (like 50 years time) will bring up.
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Yeah but now? I don't think there's still a high number of us here who plays with Bitcoins, just as this thread says:
Although, majority of the gambling sites will only require people to only gamble with the coins they deposit, like if I deposit bitcoin, I will only be able to use bitcoin to gamble. But there are some sites which you can deposit one coin and yet gamble with bitcoin. I think saying there is no many people that will deposit bitcoin to gamble site is the appropriate statement in the case, because some people can deposit another coin and yet gamble with another coin. But I get your point, you are right. People can not make use of bitcoin because of the scaling problem. I can not expect to gamble, having no money, then think of bitcoin as deposit because of the high fee, I will rather go for altcoin with low fees. |
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As for me, I believe it depends on the gambling site. Some gambling sites display user's account balance in dollars irrespective of the coin you use to send into your account, while some display exactly only the coin you sent. In the first case, I can deposit even dollar or altcoins but still make use of bitcoin to gamble, while in the second case which I can only make use of the coin that I deposited, because of the increase in bitcoin transaction fee and slow time of clearing the transaction from the mempool, it is not a welcome idea again. Instead, in the second case, I will prefer to make use of altcoins. Litecoin and ripple being my best altcoins with low fee and fast processing time. If gambling sites can try to support lightning network, it will be good, this will help to solve this scalping problem vs gambling site. But I doubt that because common exchanges have not even implemented lightning, I do not yet see gambling industry promising about it.
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@yahoo2278 already posted about this in post #1115 please read there is no rule any Legendary or any other rank member cannot apply for lower rank it's all about their own choice.
Many higher ranked members applied last week when there was a member slot needed on this campaign, but yahoo2278 only took a member account which is the rank he requested for. I will not be surprised if he only take member this time again. I did not apply because yahoo2278did not indicate higher ranks to apply. But, as the thing is now, let us just leave it for yahoo2278 the campaign manager to decide, because his decision if final. |
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Bitcoin is very volatile
Bitcoin is used by criminals
Bitcoin is a Ponzi
Bitcoin will be banned
These statements are not used for traditional investment instruments so generally people
dont want to take chances particularly with something which is alien to them, they are
happy enough to go about their business, work hard and trust the traditional monetary system.
People are the father of lies, governments are the gods of lies while people like to believe them even if they are ignorant and depicting bitcoin bad. I still see it surprising how bitcoin is called this so called listed above but while fiat is the not perfect but used for all such too more than bitcoin. Fiat is volatile, especially in the countries that are not developed or not well developed, the fiat will be devaluing but the citizens will know but have nothing much against the governmental imperfect policies. People saying bitcoin is voaltile do not know what they are saying, those that have been holding and never sell when they are losing will gain, the price will rise back and they can possibly gain tripple or more of the investment capital. There has been hundreds of ponzi before bitcoin existence in 2009, there has been fiat linked to criminals and ransom demanding bad peeople. Terrorism has been existing before bitcoin was created, criminals have been existing too. |
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Why do you not just move this good topic to bitcoin discussions. The price of bitcoin and altcoins plunged lesa than twelve hours back, maybe this kind of news is the cause, bitcoin that reach all time high not long ago just plunged from almost $49500 to a price below $47000. But not long was another pump which makes people that go long at the time to have gained now. This is a good news, also bad because it might later on affect the price of bitcoin and cryptocurrencies in general. But as a good trader, fundamental analysis is very important, but there are still many indications that we should still go long. I mean we should buy, but for short term if we like.
There real meaning to go long is used in margin and future trading, which means buy, while go short means sell. But very possible you mean we should not hold or do long term trading, but do not make this confused people, very different from going long and short which is used in margin and future trading alone.
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And when you said BTC reaching $1B, I smiled though it's very possible. But sometimes we have to be realistic.
Before bitcoin can get to such high price, it will really take time, like you said we have to be very realistic because normally If we are not realistic, we can end up out money into investing and results to losses. Setting $100 thousand is also still very high because it can take bitcoin long time before it achieves $100 thousand not to talk of $1 million, but the day such will happen will come but can take a very long time. |
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I don't know if news on crypto will also affect the stock market. Are you thinking traditional investors will lose faith on the government or will they trust it more as a result of the decision?
The reason for the ban is the lies that cryptocurrencies are used in illicit deals and that transactions can not be traced, not because of any other reason. If there are other reasons it was declared banned, maybe further shady on the government side. Stocks are not affected. I do not think investors will lose faith in the governments but crypto dealings will still be very active. As Nigeria is so active in crypto dealings. After central bank of Nigeria declared it illegal, bitcoin and altcoins at the point saw a rally while bitcoin even hit all time high. |
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The reason might simply be, it is convenient. Betting takes your time away from other things that you can use to increase your cashflow. This is the first time that I have heard of betting brokers but I am familiar with this scheme because this is how stock brokers work too. The exception here is that, you really can lose your money because of other people, the bets they put might put you in a bad place. Although it looks good on paper, it is a bad thing for me, this can be used as a way to scam someone without knowing so, they can bet in their accounts in opposition to your account.
Betting brokers are the last thing I can ever think of when it comes to gambling, well, maybe because I was able to know how to make it easily myself into betting, but I also see nothing hard about it. But if in my country betting is not legal and no other option, Maki g use of betting broker will make good sense, but as my country support gambling, betting is not that hard to the extent most people will not be able to find there way into it. Under 18+ people can not be underestimated when it comes to betting, which are not still allowed to bet, not to talk of 18+ people. |
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Being new to cypto i'm not sure how my coin allocation should look. My current portfolio allocation is 50% BTC, 35% LTC, 15% ETH does this sound ok?
Nobody will give you accurate information about how your portfolio allocation should look like, you will be the one to learn and know what you want. Learn about the cryptocurrencies, know the ones that are less volatile and the ones that are more volatile. I will advice you to let bitcoin to be 50% or more while altcoins should be other 50% or less. I do not know much about the altcoins, learn this yourself, be careful and invest at the right time after making proper analyses. |
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What do you all say?
You have just begin to trade, I guess that you are newbie to trading. Trading is a step by step process, not what you can just get into. Use low amount of money at first, learn and risky low. Learning risk management is another important thing, you need to learn how to manage risk, or you will lose more than you think. There are times the market will fail you, but there are many times you do not need stop lose or selling the unstable coin that you bought, you will need to learn how to use trading indicators, reading news and also making use of your sentimental analysis. All these will help you to know how to trade. Each losses we experienced is an experience that will make us know how to trade better. |
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Btctalk name Varanvaran
Rank legend
Current post count 1005
bustadice Name varanvaran
Wear appropriate signature
I will add a signature if I am accepted
Is this a bought account? I am just curious because it is directly above that this campaign is now full again. |
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If we have to say which team has the most chance to reach the championship, I'd say Manchester City. They even prove that they deserve it by demolishing the big clubs in the Premier League. First scoring 4 goals against Liverpool and now 3 goals against Tottenham. Leicester and Manchester Utd must do much better than this if they want to keep pace with City.
Man City just know how to have their ways in the premier league, they have been the best since the last decade in premier league, even if they do not perform well in championship league, they still perform good for premier league. If Man City have the league this season, they really worth it with how they are playing, they play good, they play strong. We are in the second half of the season, while most in the 23rd match, only not long again to final and Man City has really created much gap between them and the clubs that may want to really fight hard with them. I do not think they will lose this league this year either, they have already created the chance as other strong clubs find it difficult when they make waysthrough to conquer. |
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BNY Mellon, a 236-year-old American investment bank that controls around $2 trillion, announced on February 11 that it will soon store Bitcoin and other digital currencies, offering the same asset-management services it offers for traditional currencies and stocks.
The world is recognising the truth of digital asset value, they are getting to know that there can be digital assets, they know if they do not support that now, that they may be losing, that is why they are getting to involve in bitcoin holding. This is just one of th nice move into crypto industry, the number of institutions dealing with cryptocurrencies are now increasing. From the report I read today, institutions now hold 3% of the total supply of bitcoin. |
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How can China take over bitcoin network? It is not just possible in any way. China miners dominate on bitcoin mining, but not in a way they will take over the network, the domination is reducing drastically as their government is becoming hostile to bitcoin mining a little. In 2019, China mine 75% of bitcoin, in 2020 China mine 65% of bitcoin, can you see how the mining by miners in China are reducing drastically. And even with this, how can they control bitcoin network, it is not possible while bitcoin they mine are mostly sold out of China.
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The companies will better be the best to give more accurate information about this, there are some signature campaigns that do not last long, probably because their aim has been achivee or because no much further progress after advertising. While some will be long term because they are having much increase of users and other people that are not even users but using their platform when they bring up their campaign here. Many of us will registered on some of these companies and make use of their services. But it is the companies that will tell us what progress they achieved after bringing campaign to this forum. The ones that last long see many people that click on the signature while many out of the people that click on the signature still go further to make use of the their services.
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They aren't being shown by a block explorer. But they are still taking up space on the Trezor wallet to prohibit double spending. It's via the desktop-web browser.
I'll look into the trezor/electrum thing, thanks for the idea.
The best you can do is to rebroadcast the transaction, the transaction would have left mempool some weeks ago, it usually take two weeks for transaction to drop from mempool, but it might take before or longer but transaction of 6 to 7 weeks would have dropped from mempool. All you need to to is to spent the same transaction again or cancel it. |
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Suppose I buy from a merchant who accepts bitcoin (e.g. Newegg which uses Bitpay).
Is this a taxable event? i.e. should I report my purchase to IRS?
No, not taxable. This is how it worksYou buy: not taxable You send: not taxable You lose while holding or trading: not taxable You gain: taxable. How gain is taxedIt can deffirr from country to country. Supposing the tax is 10% You bought $1000 worth of bitcoin. The price increase and you have $1100. The gain is $100 10% of the gain 10% of $100 The 10% of $100 is equals $10. |
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