When you take the complexity of Bitcoin's algorithm and also the complexity of Quantum computing, it just makes sense that speculators will use more complex technologies to confuse uninformed people to manipulate the markets. I have seen very deep discussions on this topic and I think many of the things that was discussed about this are a bit too complex for the average newbie trader that are not interested in things like that. So they know what Bitcoin is and they know a little bit about Quantum computing and when these people distribute FUD about it, they simply accept it as facts and they panic.  |
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A lot of people are negative about this move, but let's look at the bigger picture. A lot of traditional Banks are simply closing people's Bank accounts in many countries, when they find out that they are using their accounts to buy and trade bitcoins on exchanges.  Let's give them credit for creating a Bank that actually supports Bitcoin and a Bank that are giving the finger to these older Banks that wants to sabotage Bitcoin's growth. Some people still need to convert back and forth between Bitcoin and Fiat and they need a Bank that supports that. |
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There are no simple answer for that, because not all payments that are done for ransomware are recorded. You can write ransomware that are specifically targeted at specific individuals or companies and those people might be given their own Bitcoin address for payments that would not be reflected in any statistics that are collect out there. The amount of people that are actually paying this is also very small and this will not have a significant impact on Bitcoin's price on all the exchanges where millions are traded daily.  |
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Well, when Libra was first announced a lot of buzz was created in the media and a lot of people looked seriously at investing in Crypto currencies, because a large corporation like Facebook was interested in creating their own. It was mostly driven by FUD that was spread on Social media platforms and a lot of misinformation. So, it was to be expected that if the government of the USA are to request Zuckerberg to speak to their concerns about his companies decision to create their own digital payment option, then speculators that are misinformed again, would withdraw their investment in Bitcoin as a preventative measure. |
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I do not believe in all these so-called "Bitcoin Banks" but I did deposit some Bitcoin into Freebitco.in where you get daily interest on the money that are deposited onto their platform. <I think it is something like 4% yearly, but added every day based on your current balance> The only reason why I did this was because I use the interest to buy lottery tickets and a little bit of gambling on the site and also because the site has been around for ages. The Bitcoin would not have earned any interest if it was just laying dormant in cold storage and I would have had to use my own bitcoins to gamble.  |
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~
I do not understand your animosity towards this guy and the service they offer. The fact that Luno is the largest Bitcoin exchange in Africa speaks for it self. The exposure to the European market is strategic, because it adds liquidity to the exchange and also opportunities for the African people to do cheap inter-continental transfers via Luno's <internal ledger> to these countries. I am tired of this bullshit PR stunts, seriously everything we read nowadays are paid promotional articles. The guy is openly criticizing the banks, how they are slow, expensive, unreliable...all the menu, and then, what a surprise, the only way to purchase BTC from their exchange is ...via a bank! Let me quote the FAQ page again: If you don't have a bank account (in these countries) or you just want to use Luno to send, receive and store Bitcoin, you don't need to upgrade your account.
So if you don't have an evil bank account, you can use their revolutionary exchange to send receive and store bitcoin..the same things the bitcoin client does, and when it comes to storing it is 1000x times safer. Yeah it might be a great exchange, it might be useful for some, but don't start with these marketing tricks about the revolutionary system when you're so firmly planted in the old system an earthquake won't move you a millimeter. Seriously we're trying to change the system with those guys that will say anything just to earn another client? Then it's another lost opportunity. And yeah, I'm starting to dislike almost everything about the so-called bitcoin news. When the numbers are not wrong, when the guy is not outright lying, when it's not a paid shilling article I come across some that we're written 4 years ago and republished as new news. The whole environment is getting more toxic each day, resembling exactly what poeple criticize about mainstream media and banks. There are basically very little we can do about the on-ramp and off-ramp onto Bitcoin, when it comes down to fiat currencies. The moment when legal third party services touch fiat currencies, they have to work through the Banking system. I think transferring money between Luno accounts can be a lot cheaper for people in Africa, once the money is deposited onto their platform. Banks and money transmitters, take a big chunk of the money that are transferred between people, so doing this through Luno.com would be a lot cheaper and faster. <Think money transfers between Africa and those European countries> I agree with you that a lot of BS are being published and distributed via Social media platforms, but I think Luno's attack on Banks are justified, even if they are forced to work with them to handle fiat. You do not have to use a Bank to deposit coins externally to Luno and when you do Bitcoin payments from their platform. |
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Buying another company comes with a lot of headaches and Facebook wants to do everything in-house for security reasons and also to protect their reputation if the 3rd party service they use, have exploitable code. They know what they have in the developers that are working for the company now and if they really wanted to outsource this technology, they will simply hire new Blockchain developers to come and work for the company to develop their own token. Facebook cannot risk millions of users financial data and their money on a outsourced third party service that might be exploitable.  |
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CCN spoke to Werner van Rooyen, Head of Business Development and Growth at Luno, the biggest Bitcoin exchange in Africa about how Bitcoin and cryptocurrencies are naturally poised to offer Africans financial inclusion.
CCN: Has Bitcoin anything to offer Africa?
Werner van Rooyen: Absolutely. There is a huge potential for Bitcoin in Africa. Many Africans could move straight to a cryptocurrency, like Bitcoin, or a bank of the future, such as Luno. Much of the existing financial infrastructure is inefficient: banks and branches are expensive, currency transfers can often be expensive and slow and most of the developing world is still unbanked.
From their own website help page: Luno helps customers with a bank account in our supported countries to buy and sell cryptocurrency.
If you don't have a bank account (in these countries) or you just want to use Luno to send, receive and store Bitcoin, you don't need to upgrade your account. Imbeciles! Supported countries: Europe (23countries), Indonesia, Malaysia, Nigeria, South Africa, Uganda, Zambia....and he talks about Africa!!!. I understand that this whole interview is just a paid advertising stunt but have a bit of shame. No question, the potential for expansion is very visible in Africa.
Yeah, the same potential I've been hearing about since 2013 and yet ....nothing. Look at these maps: April 2013 https://coinmap.org/#/world/18.97902595/37.35351563/3April 2015 https://coinmap.org/#/world/18.97902595/37.35351563/3April 2019 https://coinmap.org/#/world/18.97902595/37.35351563/3The way things are going, it will be April 2999 when finally that untapped potential will ...be tapped. I do not understand your animosity towards this guy and the service they offer. The fact that Luno is the largest Bitcoin exchange in Africa speaks for it self. The exposure to the European market is strategic, because it adds liquidity to the exchange and also opportunities for the African people to do cheap inter-continental transfers via Luno's <internal ledger> to these countries. I travel into Africa a lot for my work and I have used Luno on occasions and I can highly recommend their service, because it is super easy to use. Let's applaud the service for their efforts to bring Bitcoin to Africa and to expose them to capital from other countries. |
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Transaction fees are not their only income source, because a lot of these exchanges will negotiate a fee for the listing of new coins on their exchange. So the Alt coin developers will pay lots of money to list their coins on large exchanges like this and some of the ICO's will also be charged to list these tokens on the exchange. Crypto currency exchanges are popping up like mushrooms, because it is a cash cow in the Crypto currency scene and there are 1000's of Alt coins and ICO projects looking for a home. |
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My opinion is that having a central bank for all purposes can lessen the hassle on every user since the process would be quite simplified . Going digital will really help the cryptocurrency space.
How does a centralized Bank simplify the process? Centralized Banks are the root of all our economic problems, because when these centralized institutions are corrupted and influenced, the whole economy suffers. We need a decentralized financial system, without the influence of any centralized entity that can be corrupted, to heal our financial systems. There are simply too much manipulation and corrupt groups of people that infiltrated the global economic systems and they are destroying it from within. |
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A increase in adoption does not neccesarilly guarantee a increase in the price. Let's say for instance 1 000 new people started to buy $10 worth of bitcoins, do you think that will increase the price? No, it will be like a ant trying to f#$% a elephant... You need two things to happen for the price to go to the Moon, namely : 1. A significant amount of new people with lots of money must start buying more coins. 2. The owner of the current coins, must not sell large amounts of coins for the supply to diminish. It is all about supply and demand and you cannot just expect the price to go to the Moon, if only one side of this market is stimulated. |
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Just remember one important thing.... when you deposit coins or buy coins on these exchanges ....they hold the Private key to those coins. We always say, if you do not have sole control over the Private keys, then you do not own those coins. Buy the coins and move them to a address that you have the sole control over the Private keys. A ledger on an exchange is not as secure as the Blockchain and that makes them the weak link in the security of your coins. They use Cold storage to secure coins, but we have seen several instances where Exchanges were hacked and where 1000s of people lost many coins. |
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In my country Banks are closing more and more of their local "Brick n Mortar" branches as they move forward with electronic Banking on smart phones and via Internet Banking. I can do almost anything through my Bank App on my mobile phone or through Internet Banking on my computer now. The second generation of Banking is a shift to a digital Banking alternative, where a physical visit to a Bank would be a rare occasion. I hate Banks, but my work does not want to pay my whole salary with Bitcoin, so I am forced to use it. |
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The reason why people prefer to use individual escrow services on this forum and not online escrow services are quite simple, because the rating sites for these services are fake in most instances and also the positive feedback they publish on their websites. When you look at the feedback coming from people on this forum, you can easily spot the fake "newbies" and differentiate them from the more reputable forum users with a legit history and reputation. High ranking members are not always trustworthy, because scammers might buy those accounts to fool people into trusting them. |
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Also watch out for the people who will PM you now to offer to do it for a 10% fee. A lot of my friends got this email and they actually used the service and lost all those so-called FREE coins. These scammers will ask you for the private key for those addresses and they will take the coins and give you some stupid reason why the forked coins could not be extracted, but when you eventually try to do this on your own, then you realize that they already swept those coins. So, just be careful and do not give Private keys to strangers. |
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The only time when I see the BTC symbol on TV, is when I am watching the News and some Ponzi scheme used Bitcoin to scam people or some Pedo network that used Bitcoin and then got exposed. The other times it was in some TV Series or Movie where the hacker always use Bitcoin for money laundering or some money transfers to pay for some illegal criminal activities. In the media and movie industry, Bitcoin is synonymous with illegal activities. < Puppet masters use this to push their hidden agenda> |
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Wow, how refreshing to read a feel good story like that. I think a lot of people in first world countries does not understand the difference that $1 to $10 can make to someones life in third world countries. I have worked on contract in 3rd world countries and I introduced Bitcoin to some of those people and on my next visit a lot of them thanked me for introducing them to this border less technology. Some of them are also doing "online" work for bitcoin and a lot of them are storing their little saving in Bitcoin to protect it against hyperinflation. 2017-2018 was a life changing time for me too. |
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Welcome to the forum. I hope you did not just join the forum to make some more money, because a lot of people are joining in the hopes of making millions. Yes, there are a lot more to this forum than simply making money and you have to take time to weed out all the non-constructive posts, before you get to all the gems. Bitcointalk.org is a treasure trove of knowledge and knowledge is power. Trading is just one part of the treasures that are on offer on this forum and chaos are prevented with proper moderation and reporting from the people who love this forum. Dig a little deeper and find those hidden treasures. |
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One thing is certain and that is that John McAfee just loves money and attention. So, having people paying a 0.2% fee on all their trades would certainly give him money for nothing on a decentralized exchange. McAfee has shown in the past that he would shill for "shitcoins" if someone paid him enough money, so would you trust someone that would sell his soul for money and cut off his penis to win or lose a bet, with your money?  Good luck, I hope you have lots more money to throw in the water. |
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How hard is the limit? It's much more concrete than the debt ceiling on the central banks around the world.
To change the 21 million limit you'd essentially have to have a hard fork in the network, and I doubt that consensus will be reached in terms of actually changing it since people know that this limit is precisely what gives BTC its intrinsic value in the first place.
People should stop worrying about when we hit that. Miners are still going to be incentivised through transaction fees, and the world isn't going to end.
Exactly, I did not for one moment expect that this whole Bitcoin Cap limit would become an issue in this thread. I think a lot of people think it is easy for a bunch of people to reach consensus on increasing the coin cap, but you only have to look at all the drama we had when we wanted to increase the scaling for Bitcoin <BTC> and the fork war that resulted from that. Now, imagine what will happen if a bunch of people want to increase the coin cap and effectively reduce the value of people's current coins. |
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