Yes, a group of us arranged with a local pub to provide us a venue at their establishment every Friday to host a Bitcoin meetup. We also showed the owner how Bitcoin works and he allows us to pay with bitcoins for our drinks and food. We arrange everything and invite "newbies" to every meetup to grow adoption. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) We use these meetups to discuss the current news and developments in Bitcoin and other Crypto currencies and we invite speakers to talk at these events. <We do not have enough money to invite Bitcoin influencers, but the local Bitcoin merchants normally speak about the product and services that they have on offer>
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Most of these scams are targeted at people who post openly that they are using these services. You post your email address on the forum for some Bounty campaign and then you post something in a gambling thread and the scammer makes the connection that you are using that service. <They do not need to get access to the casinos database, because most people give them the information on social media or platforms like this forum.> So they tweak some email service to look like the email being send are coming from the support personal of that casino and they promise you some refund or something to get you to deposit something in return and then they take those coins. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) I create throwaway accounts for most of these services and I hide my main email account.
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You guys should have known by now that the SEC is just the puppets of the puppet masters that are protecting the traditional financial institutions. These institutions are rigged so that there people can manipulate the markets in their favor and that other people who are not part of the inner circle, would lose money. ![Angry](https://bitcointalk.org/Smileys/default/angry.gif) They cannot handle the fact that they cannot manipulate the Bitcoin price alone and that is why they are using this as an excuse to stop the ETF proposal from being approved. ![Angry](https://bitcointalk.org/Smileys/default/angry.gif)
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The fact that there are loads of coins hoarded are not a given that these people would stand together to influence the price. Many wallets are owned by individuals, because people split their hoard into multiple addresses. We cannot deny that there are groups of people out there that might be synchronizing trades to influence the price, but it has not been proven yet. The fact that people are doing this, does not guarantee a higher price in the future. They might trigger a Bull run, but it will only have a short-term influence on the price. Most people seem to think Bitcoin Whales are just a myth, but I believe they exist and they are very active behind the fluctuations in the price. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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As of now, Bitcoin is the cryptocurrency with the most nodes available worldwide. It's been doing well with only 10 years since its inception. However, I believe that in order for Bitcoin to reach true censorship-resistance and reliability, it needs to expand in areas far beyond reach. It would be nice to have Bitcoin nodes distributed across space in order to be prepared for any catastrophic event on Earth. Imagine having Bitcoin nodes on the Moon, as well as, planets like Mars and Venus. This would allow Bitcoin to stand the test of time for generations. However, it's yet to be proven if this solution is viable after all. What are your thoughts? ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) With current technology, the main problem would be the latency. To the moon its measured in seconds (not milliseconds), to Mars in minutes, half an hour to an hour. Syncing the blockchain on a solar system wide level would be very difficult, not impossible, but tricky. You could easily have two blockchains running in parallel on Mars and Earth at the same time for long enough periods to do harm. This is definitely something that was not in Satoshi's mind. One promising future technology that could fix this, is communications based in the properties of quantum entanglement. So yes, not all "quantum" stuff is evil, quite the opposite in fact. The reasoning about a catastrophic event is unnecessary, if such thing occurs there would be far more pressing issues than keeping the Bitcoin network alive. No, but if in a few centuries later humanity starts populating the system, it becomes important. For interstellar distances you can pretty much forget it, you would be fighting against time itself... Unidirectional communication could be theoretically possible thought. I can imagine a future where some colonies are setup both in space, such as artificial places at lagrange points, and in some suitable places like Jupiter moons, Mars, etc. As i said earlier, without quantum entanglement communications take minutes to hours to reach points. Even communication from earth to earth using satellites is laggy due to the distance it takes to reach orbit and back, or if needs to be relayed further. This is a physical issue, nothing can be done to lower the latency (short of quantum entanglement), bandwidth/bitrates can be improved, but not latency the speed of light (assumed constant) is in the way... Did you know? Light from the Sun takes 8 minutes to reach Earth? Yes light, just a different wavelength... But the Sun is in the center, what you do when Earth is opposite to Mars? You already have those 8 minutes plus the longer distance towards Mars... And when the astrophysics start measuring in LightYears, better get ready because that's actual Earth years that light takes from point a to point b... Before taking in consideration time relativity. Don't worry, if we don't go extinct, our descendants will have fun figuring clever ways to overcome this. Most fiction and even some science-fiction tends to ignore this. Star Trek instant bidirectional communications with Earth? They better have full dominance of quantum entanglement, else... I believe the solution for latency issues would be for NASA or some private organization to develop their own Blockchain based technology that are not linked to Bitcoin. In doing this, they do not have to synchronize with transactions that are done on the Bitcoin Blockchain. So you might find a Mars coin running on their own Blockchain and then people will have trading pairs with other coins, where they sell these tokens for bitcoins and visa versa. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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There are several scenarios where your points are not valid. You say you have access to your bitcoins at all times, but it might not be true if you are using third party wallet providers or exchanges. <A lot of these services have strict KYC/AML requirements and many people's accounts has been blocked by these services for some violation of the ToS.>
You also say Bitcoin's security is "Top Notch", but have you seen how many exchanges and third party services has been hacked in the past and how many people have lost coins due to phishing scams?
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Looking at the Poll results and also the majority of the replies in this thread, it seems as though most people seem to think that Fiat currencies and Crypto currencies can co-exist and that the common misconception that Fiat currencies must replace be replaced by Crypto currencies, might only be supported by a minority group of people. ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) Yes, 7 votes in favor of co-existence are not a good indication of what the people want, but it already shows us where it is going. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) So, let's see what happens as time goes on and if this trend will continue. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
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Yes, unfortunately some of these bounty campaigns are scams and you are not guaranteed to get your money. A lot of these scammers also hosted signature campaigns for their projects on this forum and people posted for 30 or more days and they did not get any reward for their efforts. You might be guaranteed a payment if the bounty/signature campaign funds are in escrow and if it is run by one of the more reputable campaign managers on this forum. Unfortunately nothing can be done about these scams to prevent it, but people should not expect that payment is guaranteed in all of these projects. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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I can think of several scenarios where Fiat currencies are still needed, namely :
1. Where there are no electricity infrastructure. 2. Where it is not safe to carry expensive smart phones. 3. Where there are no access to the Internet. 4. Where there are a high number of illiterate people. 5. Where there are people with disabilities that presents challenges for electronic payment options.
I personally think there are still huge challenges that needs to be addressed, before electronic payment options can permanently replace Fiat currencies and that alternative payment options can co-exist with Fiat currencies. let's not put the cart before the horse. cryptocurrency needs to actually go mainstream first---and not just as a speculative investment to be hoarded. like hatshepsut93 points out, bitcoin and lightning can't begin to handle all the world's transactions. neither can other blockchains, which are either less scalable or will suffer from the same inefficiencies as bitcoin. everybody should just get used to cryptocurrencies coexisting with fiat, which isn't going anywhere as long as nation states still exist. i sure hope physical cash isn't going anywhere either. Ok, the scalability and capacity of the technology is still debatable, but it is still under development and improvements are done daily. I think the Lightning Network will only be one of the scaling options in the future and we might see some other Alt coins becoming more widely used for some use cases. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) The majority of the replies seems to show that a co-existence between Fiat currencies and Crypto currencies are possible and that there might be a slow shift from Fiat currencies to Crypto currencies in the future. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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This is great news! I have always said that people should find ways to incentivize the public to rather opt for paying for services and goods with Bitcoin. The only incentive I could think of that would give people a reason to switch to Crypto currencies, would be if they could get something back from doing that. A discount or refund for paying with Bitcoin is a huge incentive for people to rather pay with Bitcoin and this should be standard practice on most online platforms. <So if people pay with other payment options, they should pay more for the service or goods.> ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Well, give the guy credit for highlighting the revolutionary vision of Satoshi Nakamoto for this technology. Satoshi wanted to disrupt the corrupt centralized financial institutions, because the people were suffering as a result of the mistakes that they made. ![Angry](https://bitcointalk.org/Smileys/default/angry.gif) Banks are working very close to governments and it is the governments that are using taxpayers money to pay for their mistakes. <In the form of multiple bailouts.> So, yes Bitcoin was a cry for help to disrupt these authoritarian institutions and it did this by providing them with a alternative option. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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So, we are moving into a new era where Fiat currencies are getting some competition from Crypto currencies and multiple other payment methods. People are simply not interested in using cash anymore, because cashless payment options are more efficient and also more convenient. < Debit & Credit cards / Crypto currencies / Gift cards / E-Wallets / Cheque / PayPal etc. > So with the endless alternative payment options available, cash payments are slowly being replaced by more practical and convenient payment options. Is there still a need for Cash <Fiat currencies> in this evolving world? I can think of several scenarios where Fiat currencies are still needed, namely : 1. Where there are no electricity infrastructure. 2. Where it is not safe to carry expensive smart phones. 3. Where there are no access to the Internet. 4. Where there are a high number of illiterate people. 5. Where there are people with disabilities that presents challenges for electronic payment options. I personally think there are still huge challenges that needs to be addressed, before electronic payment options can permanently replace Fiat currencies and that alternative payment options can co-exist with Fiat currencies. Please give your opinion and participate in the Poll. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) It is still needed to be fair. Crypto can potentially usurp the role of fiat in the future, but that is still very far. Crypto at the moment is just at its infancy. Besides, government and crypto still dont meet eye to eye at the moment so removal of fiat currencies would cause major mayhem across the globe. Plus, letting crypto take the role of fiat with how most people are still ignorant of its existence is pretty much impossible. Influence of crypto should slowly spread over the globe and only then can we start the improvementsbin terms of its role as a virtual currency. As you said, issues still plague the usage of crypto as a fiat currency but that should be patched up in the future with how technology keeps on evolving. Long story short, I believe it can, but not now. So at the moment, both should co-exist and let each other prosper. I think I left out the government perception of Crypto currencies and it is worth a mention too. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Governments need control over reserve currencies and they have control over the supply of Fiat currencies, so they will be hesitant to move to Crypto currencies, if there is a possibility that they might lose control over their reserve currencies. Their solution seem to be the development of centralized Blockchain based technologies, where they are given full control over the technology. <The so-called GovCoins> In the future, we might see the digitization of Fiat currencies, made possible by the Blockchain technology. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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You are mixing terms "cash" and "fiat" in many places in your posts, it makes it really hard to properly answer your question. Cash means physical money, fiat means government-issued money not backed by anything.
Should cash exist? Yes, because electronic payment methods rely on the Internet, electricity and special devices, and those things can't be always available, especially in remote places.
Should fiat exist? Crypto is technologically incapable of handling all fiat's transactions in the world right now, even with Lightning Network. So, it's kinda pointless to discuss whether crypto should replace fiat, until it's actually possible to do so.
I use the word Fiat because it has a very close link to cash issued by governments. The word “fiat” is Latin in origin and refers to an arbitrary order issued by a government or other authoritative figure. When applied to paper money, fiat currency refers to the scary notion that our dollar has value only because the government says it does. <-- Source : https://americanmonetaryassociation.org/why-the-dollar-is-called-a-fiat-currency/So let's not split hairs on the actual difference between the two, because it can be any physical currency that are issued and backed by the respective governments. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) Let's just focus on the discussion and question if these currencies should be replaced. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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So, we are moving into a new era where Fiat currencies are getting some competition from Crypto currencies and multiple other payment methods. People are simply not interested in using cash anymore, because cashless payment options are more efficient and also more convenient. < Debit & Credit cards / Crypto currencies / Gift cards / E-Wallets / Cheque / PayPal etc. > So with the endless alternative payment options available, cash payments are slowly being replaced by more practical and convenient payment options. Is there still a need for Cash <Fiat currencies> in this evolving world? I can think of several scenarios where Fiat currencies are still needed, namely : 1. Where there are no electricity infrastructure. 2. Where it is not safe to carry expensive smart phones. 3. Where there are no access to the Internet. 4. Where there are a high number of illiterate people. 5. Where there are people with disabilities that presents challenges for electronic payment options. I personally think there are still huge challenges that needs to be addressed, before electronic payment options can permanently replace Fiat currencies and that alternative payment options can co-exist with Fiat currencies. Please give your opinion and participate in the Poll. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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A lot of people come to this forum with dreams of fortunes to be made from this technology. They look at the success of the early investors and they wish that they could repeat that success by trading in Alt coins. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) Most of them fail miserably, because a lot of those people are trading with useless Alt coins. <They lose more money on trading than what they would have gained by simply buying bitcoins and hoarding them.> ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) Do the research before you dive into a empty pool of useless Alt coins and you will not get hurt. Alt coin trading is very risky if you do not know what you doing. ![Angry](https://bitcointalk.org/Smileys/default/angry.gif)
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OP, I like the idealism, but some of us have come here for the money, but stayed for the revolution. Understand the incentives, encourage the greed, then it will lock everyone in. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) Exactly, take myself as an example.. I entered Bitcoin because I was looking for a alternative payment option. I was a victim of credit card fraud and I lost a lot of money, so I was looking for a better online payment option. I found Bitcoin, but the real benefit of Bitcoin became more evident, when I went down the Rabbit hole and realized that there was a huge movement behind this technology to disrupt corrupt Banking practices and to re-invent the whole payment system. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Every cent that are converted to Satoshis are a step closer to true disruption and also improvement of the old legacy/centralized payment systems. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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The private talks on DM and Telegram reminds me of the private trading clubs on the Stock exchange. You have a bunch of guys giving their opinion on market shifts and behavior, but most of those opinions come with a hidden agenda. They try to influence less experienced traders to invest in commodities or stocks to benefit them. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) So, when will you send us the invitation to the private "Traders Circle jerk" group for all this experienced advice? ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) One thing I learnt from experienced traders, was to never trust experienced traders. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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Germany adopting blockchain strategy will never have direct impact on bitcoin . but when government and banking sector adopt blockchain is the fulfillment of Satoshi vision. Countries adopting digital currency will help crypto trading to be more easy and accessible.. I will be happy to get link of your story to read more about it..
We still far from this scenario, but at least with the Germany adopting the block chain technology is one step ahead towards satoshi's vision. We still don't see how the other bank sector will adopt block chain today. but if we see more countries are following the footstep of Germany, the bank sector in the world will leave no choice regarding this matter and that's when the time we will see a massive impact on bitcoin price. maybe some other countries at that time will also make bitcoin as one of their national currency and so the other altcoins as well. No my friend, Satoshi's vision was never for governments to develop their own Blockchain based technologies as a competitor to Bitcoin. You have to understand the difference between Bitcoin and all these so-called Blockchain based technologies for you to grasp the impact of this. The German government will hire their own software developers to create a whole new Blockchain based technology to implement their projects, so it will not have a positive affect or even a negative affect on Bitcoin, if it is not used as a currency. It would have been better, if they used Bitcoin, but we know these governments wants 100% control and that is why it will never happen. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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Financial freedom is more about your ability to control your own wealth and having access to it 24/7/365 times a year. How many times have you arrived at the Bank, just to find that they were closed. <Business hours> or that the ATM was empty or broken. So, you will have financial freedom when you have full control over your own money and wealth and Bitcoin gives that to you. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) You are also not restricted to send only a predetermined amount of money to anyone in the world, so if you have $10 000 000 worth of bitcoins and you want to send it to someone, then you will not be blocked by any Bank or government, because you can send it directly to another Bitcoin address. <Bitcoin is borderless> ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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It does make sense that most traffic are coming from countries where there are high unemployment and third world countries.
I don't think so. India has higher unemployment rate than Russia and also much larger population. The unemployment rate in India is 6% and in Russia is 4.3% [Ref.]. Also, the population of India is 10 times the population of Russia [Ref.]. But we don't see India in third top visitors of freebitco. Yes, that might be true, but it boils down to the level of access to the Internet, because those people will have to have access to the Internet to access Freebitco.in. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Russia have very good access to the Internet in their main cities and a lot of their citizens are concentrated in these large cities. India have a large distribution of people working in more rural or agricultural areas, where there are not that much access to the Internet. You also have a lot of people living in informal housing, where there are no electricity and no Internet access.
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