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Cryptocurrency is trending and some people are still watching from far and some really not interested and can't see it being different from a ponzi scheme. I only hope the trending helps make a shift to helping the cryptocurrency moves into good usage for the future now.
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I did got informed of a very close colleague that got his ethereum wallet hacked. I do know the guy to be a very careful person and the thought of having him hacked means I don't know how secured/safe mine is and with some of my other friends who have only just started gathering some altcoins. I feel cryptocurrency so still safe to some extent till extra measures are being taken to safeguard people's wallets.
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Why is Bitcoin tied to Fiat? Why is Bitcoin value moving like a stock? satoshi said the value will be derived by the limit of total coins. But we are seeing the opposite. Why dont we mathematically calculate the value of bitcoin according to the amount of bitcoin mined?
Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
I believe the Fiat's powerful influence over the bitcoin is only temporary. The table will soon turn when bitcoin will have direct exchange for goods and services. |
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Most times, the volume of the trending ICO by Bounty Hunters usually attracts potential Investors and mostly to the success of the project too.
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Hey everyone I have heard newbies and other people asking about how safe is the Bitcoins and it's transactions well I think it will be beneficial to have a little discussion on this .
First of all if you own a bank account in a good bank then you should know that its very hard to hack one's bank account, it's almost impossible unless done due to personal flaws, like sharing your key or bank account details or something , you know the system behind Bitcoins and the system behind banking system is same .
Something by the name of cryptography whose Advance form is block chain . It's a complex code involving complex mathematics and the transactions are only completed through very complex and complicated steps impossible to penetrate.
For Bitcoins the same thing operates but with no intervening part or whatsoever , it's p2p direct transactions and this is even more secure and private.
The reason why you hear news like :- someone got their Bitcoins stolen or something is because they have personal flaws , they shared the private keys or the password with someone else..or they used a bad wallet.
It's on you how safe you make it .
Bitcoin is safe to some extent, reasons because hacking is still possible everywhere with the latest technology in place. The anonymity of bitcoin is also to some extent as some of the transactions can still be traced and if/when the bitcoin wallet is tied to a certain bank; voala! The person is seen! |
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How can the government discover I own BTC, let's say I'm from Venezuela where crypto is banned, what they can do to discover and arrest me?
I actually had a flash thought about this today; about locating/tracing someone who might have transfered bitcoin from a wallet to another. I do think that if you transfer from a registered wallet with a bank it becomes more easy for the government or anyone to have you traced. |
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If bitcoin is really digital and we are certain that the bitcoin has been list indeed, I feel it can be retrieved since lost means it now doesn't belong to anyone. It should be mined and readded to the volume. |
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While most of the people are awaiting the massive bull run like in 2017 winter again, it will not be a case again. While I wish BTC to go into new ATH before the end of this year, I think that reaching 13K to 14K gradually testing every pivotal point before the end of this year is more realistic and more healthy for the market too.
I am bullish in Bitcoin doesn't mean I am expecting parabolic run every time bulls ticks on. The 20K level that bitcoin reached last year was a enormous craze and mostly FOMO and/or may be manipulation which will not happen again and again. So, the people who bought at 20K will have to wait for few more years for that massive bull run to return, that's why they always says "patience is key".
Someone close to me in this cryptocurrency business did say recently that he doesn't see the bull run of late last tear happening this year again; towards the last quarter. We might as well just forget about the high hopes for this year. There is now quite a lot involved to impede the bullish run for this year. But surprises are bound to happen in the cryptocurrency world so the space for FOMO/FUDS and pumpers/market manipulators are still available for the expected bullish run. |
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I should say that I know of banks here in my country that are already making use of the cryptocurrency trades to salvage the crises and recoup losses garnered over the years in their normal banking operations.
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It appears now that it will take a miracle to have the bitcoin do a bullish run as everywhere looks dry and with no hope of a bullish run. Most have lost hope and some have soldout on a real loss just to recoup some of their losses. It looks so much like real confusion.
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I believe that every coin has its own purpose of creation. The bitcoin price movement rate will vary with respect to different altcoins. So, making a choice between the bitcoin price increase and altcoin will be really based on your knowledge of the crypto markets.
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The truth is that the anticipation for crypto to go mainstream increases as time goes on. In fact there are skeptis who would have nothing to do with crypto unless it goes mainstream. Is 2018 that year when blockchain crypto goes mainstream?
The expectation is really high of cryptocurrency bullish run for this year 2018. I know a lot that has sold off their assets to get into the crypto markets only to be caught in the trap. Well, we are still waiting for the mainstream to commence earnestly. |
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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.
It will take banks with boldness to take this giant stride without batting an eyelid in this decision making. But I want to believe seriously that some few banks in my country are already into the cryptocurrency trades to make for themselves extra earnings. As far as they have background forex readings, cryptocurrency trading is also certain. |
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It is really quite pathetic and frustrating to know that as the cryptocurrency markets is trying very hard to still win the hearts of good investors and gain credence, some are out there to spite this with their narrow minded definition of just dumping and pumping the markets. Hence, it is looking out to be a game and somewhat a ponzi.
I do hope a means will be made soon to checkmate this loophole of the cryptocurrency markets.
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I wouldn't say that bitcoin is difficult to understand depending on the level of disclosure and also with respect to the categories of persons learning about it. To a lame man, I believe there is peripheral level of teaching that can be disclosed/taught to get the person in full understanding of what bitcoin is. To the Elites, there are levels of disclosures also given and to the Programmers, there are the jargons understood by them too. Do, it all depends on your level to have a detailed understanding of the bitcoin.
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Good to know there has been a reconsideration on their ban on cryptocurrency/bitcoin ads. I did got banned about a month ago for 24hours on the Facebook platform just for the reposting I had made; even though I couldn't really pin point the exact post that caused the ban! All the social media platforms should have a fair regulations and not an outright ban as anticipated before now. |
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Part of what I feel can be done to help boost the public's view and acceptance of the bitcoin is to help publicize more of the adoption and adaptation feats achieved by the cryptocurrency market. Examples are the involvement of the SECs and world financial bodies collaboration in the cryptocurrency market regulations. Also, the involvement of celebrities and new price stabilities of the bitcoin.
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What is your opinion as per Warren buffet statement, he is a wealthy giant globally he told CNBC on Wednesday the recent craze over bitcoin and other cryptocurrencies won't end well. "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,"
Am really scared hope the end is not near. I want to hear from knowledgeable individual what the future holds.
I should think he has a point there like looking at it from a spiritual realm perspective and saying the end is near; cryptocurrency is the end time currency! If true then it will continue to function and be active. An end of it means an end of the world too. |
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I do believe the hack was rightly timed at this period seeing it furthering the dip of bitcoin value. I read about it here on the bicointalk platform and got additional information via Google. I believe this should really be an eye opener for other exchanges to be onguard so as to secure their customers' wallets.
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