There have been a lot of arguments concerning this topic. Again, there have been a lot of pronouncements from governments officials pertaining cryptocurrency control and people actually reacted to them.
Even though some governments may want people to think they control and regulate cryptocurrencies, that is far from the case, as cryptocurrency cannot be regulated or controlled by default. Companies providing solutions related to this new form of money, on the other hand, are subject to existing guidelines which apply to other financial service providers as well. The flow of money in the cryptocurrency world is not controlled by any central authority, nor will it ever be.
What is your own thoughts about this?
If they're really invested in it they could. They can't control it "directly" but they could control it by manipulating its environment. Crypto is small compared to first world governments. If they had a cause worth the expense, they could "control" it. Especially during the early stages when cryptos are conveniently almost dependent to exchanges. As long as there is somesort of dependency between crypto and fiat, there is some potential it could be taken over. |
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i have been heard about this before that Venezuelan people has been starting to involved to bitcoin because they're life in the county who have high inflation so their currency is not worth anymore as the payment but i think with the volatility of bitcoin it's still hard to people at there make bitcoin as the savior of them
I do not believe that bitcoin can help the people of Venezuela. Their cans are empty. Where will they change bitcoins? Venezuela's currency is worth nothing and it is impossible to buy even food for the money. Even if you carry food and dollars from abroad you will be robbed on the way. No. It is impossible to live in such a country. That's why next to bitcoin always has to be a Fiat economy. It could help save whatever money they have to left by converting it to btc but that wont be enough to "save" them. Their focus should be reforming the government. Clearly, to get into this mess, there is something wrong with how they run their financial institution. I do hope they recover though. |
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This is why crypto related ads are getting banned left and right. It's just easier to ban them all. Also You really cant blame those "greedy" investors. Investors have to be opportunistic and because the technology is new, they probably dont fully understand it. If we look at that figures that is even small than the reality of fiat investment scammed and corruption happening in our world every year.. What I mean is our greediness as a people who thirst money is beyond what currency we have either bitcoin,, fiat or even metals like gold and silvers.. Can we stop it?? Yes by living in the forest with no electricity,, no internet and isolated..
It is our individuality that decide our fate,, do what is right and be secured..
This is true too. You cant blame fiat the same way you cant blame cryptos for scams. |
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It sounds pretty arbitrary per Muslim community though. Like Christianity, they're pretty diverse. I would find it hard to imagine that they'd be united in one thing. Although, when the time comes im sure some of them will come around. Since BTC is a new technology it's pretty hard to define it. And the rules are changing rapidly per country. Once they see how useful it is, hopefully they jump in.
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There's almost always a rapid drop after a rapid rise. Though i guess, this sends a bit of optimism. Just worried about the possible manipulation. Why now though? If this is a manipulation then they think bitcoin has reached its bottom. Which is not bad considering it was around 6k-7k.
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If they really wanted to, they could. But really allocating the resources to do so would be pointless. If regulated correctly, btc could be beneficial for both government and its citizen. Additionally a single government wouldnt be able to do it. There has to be inter government cooperation.
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Bitcoin truly proved that the technology works and could very much be applied everywhere else. Hopefully, this solidifies the very much earned trust btc deserves. Hopefully they keep the regulations fair though. I agree btc needs some sort of regulatory board as it's necessary if we ever want a wide adoption of technology.
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Just by using your phone, you could purchase almost anything. No need to withdraw on an atm. No more heavy coins on your pocket. Paying bills, and purchasing tickets without standing on a line. Very convenient and less time consuming. I know we're already using credit cards right now, but using a single currency like bitcoin world wide could really help on transaction, having less error than the normal and faster transfer and of course the security. Do you guys think this could happen in the future of bitcoin?
Having a single "currency" worldwide probably would cause more problem than convenience. I could see it as a widely used currency in the internet but im not entirely sure how long if possible, before it catches on, outside the world wide web. Paying cashless is already a reality now. So it boils down to whether btc will ever be adopted widely. |
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 I searched how to kill Bitcoin on the search box and saw nothing, so I'll just start a new one. Is it true that miners are the one responsible for every transactions? If yes; why didn't the government of China just ban cryptocurrency mining or am I just missing something out? If there are no transactions or maybe just less than 10 made transaction happened within 24 hours, how will the mining computer work then?, will it just go idle?What if people decided to hodle their coins, will it be unfair for the miners? They essentially killed it in china. If you put bitcoin is a scenario where it is no longer advantageous to use, you essentially killed it. Especially since china has its "great firewall" Bitcoin needs to grow. It needs exchanges and more stores accepting it. If you stop it from growing you killed it. Im using "kill" here loosely as what im talking about is stopping it from succeeding. |
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Because they're private companies with centralized technology. It's still decentralized and it's just more convenient this way. As btc grows, maybe there will come a day when exchanges would no longer be necessary and you could buy directly using it. But you're right, in a sense that it does introduce an element of centralization. And to be honest, crippling exchanges right now would pretty much kill its future.
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Inflation isnt entirely bad. Capitalism needs to grow and right now that's the only way. Of course there are questions of sustainability. How long will this become sustainable? and it there a ceiling to continuous growth? I dont completely agree that fiat eventually fails. The truth is fiat fails because of greed and mismanagement.
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In its current state, it wont be the most popular anytime soon. The rate of adoption is somewhat troubling for me because it's an indication that maybe the world can go without btc. But it's an entirely new thing so people havent realized its importance yet. Maybe we give it time, it would be the most popular.
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Well the data isnt completely reflective of the popularity of the practice. When we see a significant change, im sure comments would spike once again. I think it's mostly because people are getting sick of "btc news" and there arent much people writing about it now.
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It's definitely one of the industries holding btc together, but, alone, it cant bring btc to mass adoption. We need everyday stores accepting btc as payment. Just online stores are enough but i dont know when or if we'll get there.
Lot of people are against crypos being used for gambling. I dont think it brings "bad" reputation. I mean fiat is more widely used for gambling. We cant prevent using it "bad" things. The important thing is we also find good or "neautral" uses for it.
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It's just that it's more convenient to hold than to spend. Not much stores accept btc as payment anyway. Additionally the underlying technology so far doesnt support day to day transaction. Blockchain is really slow so far and We have to wait for improvements. When btc gets more popular and it becomes profitable to accept it as payment, people would start accepting it as payment.
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I admire that you accept btc in your shop. But how does that work? Are you still taxed if you transact in btc?
That's probably the best way to it, as long as you're not risking yourself to lawsuits.
Once, btc gets more popular other shops will try to copy you and you'll be on the lead.
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Ultimately, everything has value because people agree so. The same is true for fiat. In reality fiat is only a piece of paper and we all agree it has value. The only difference between fiat and btc is who backs what. What scares people the most is that btc has no issuing authority. They feel unprotected using it. But so far btc has proven itself to be formidable.
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Well the good news is, there are still 11 running with their application pending. The good thing here is that the japanese government is doing their job to improve the overall quality of exchanges by filtering out the bad ones. Im not sure how extreme their measures are but anywhere is a good place to start. I do hope they help in the improvement process though.
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It's not that people dont want to open their business to crypto transactions, it's just that btc isnt as recognized as fiat. The conventional method is to exchange btc to fiat and buy things. So, in short terms, it isnt really profitable. Additionally, it could be a recipe of a potential lawsuit since in most countries, transactions in cryptos isnt recognized.
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The element of risk kinda makes it similar but because there's no kind of "gamification" i dont think it would be classified as such. Especially since, gambling is banned due to its addictive nature. It cant be said that mining is "addictive" or atleast i havent heard of a case of such.
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