This is a great development and should even be applied in other parts of the of the world. There is no point for people forced to liquidate their crypto holdings simply because they needed some cash and they are not interested in selling at the moment. At the moment, I believe the amount interest would be high which is understandable due to the inherent risk is what is being used as a collateral but eventually when the volatility embedded in crypto is minimised, this would become something so common in every part of the world. |
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The usage of bitcoin or any crypto currency would not in any way reduce the value of native currency at least till the nearest future because as at now, there entire market capitalization is not even up to a to the value of Amazon or Microsoft which has been valued to worth over a trillion dollars now comparing that to only the companies in the United States alone and not extending it to other countries of the world before looking at the GDP of their respective economies.
Bitcoin and other crypto currencies would only serve as an alternative to the millennials and few others in the previous generation that are willing to adapt to change while the native currencies continues to hold sway in every of human financial dealings.
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The media is always dominated with the wrong news without bothering to correct any misconception that could arise from such reportage especially when it comes to the crypto industry. I have seen newspapers houses publish an apology, a rebuttal or a withdrawal of the news they earlier published. Times without number it has been reported that bitcoin in Chinese jurisdiction was never banned as it was the raising of funds by the ICOs promoters that was banned due to the series of frauds that has been recorded in that venture and that is what has remained which means this is not something new that demands any special attention.
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The bill that has been introduced in the Ukrainian parliament which proposes a halt on cryptocurrency taxation of any nature in Ukraine until the end of 2029, would definitely be something all crypto people would get behind. The questions is, how does cryptocurrency taxing work? And is there a fair way around it?
If this law is anything to go by which you would have done justice to by inclsuing the link for a more detailed perusal, it a good development because its not something out of place. Just like a company investing in a new line of business, government is a way to encourage such business give them some form of tax holiday but when it comes to government, what seems free might actually not be free which brings about thoroughly understanding the details of the bill, when its signed to law and the implementation of the law itself. |
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Regulations in all human endeavours have always help in establishing a standard of behaviour that is expected of people who are operating in the market. For the stock market, the importance of regulation cannot be understated as we can only imagine what would have happened without such in that with the various up to date regulations, we still have series of immoral activities being perpetuated by people. One unique thing I see that regulation would bring to crypto is that, the confidence that would be built as basic standard of behaviour would be expected and glaring scam activities would be reduced.
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I wonder how the level of the smartness of those people quoted and the basis of their conclusion. People who support Socialism were believing that people exist in a perfect world where certain inputs will surely bring about pre-determined output but it does not always work that way. The USSR that comes with a model of Socialism failed because of the inherent problem from within without adding the external forces who wanted to see it fail from the beginning. In short, Socialism is a model that is far from reality.
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BE PREPARED FOR THE WORST: In this bear market,I have learnt that the worst could happen,so we should always prepare for the worst.Many have lost up to 80% of their portfolio to this bear market because they are not expecting the worst to happen,unfortunately,they are caught up in it.If they had prepare for the worst,they could have done something about their portfolio at the beginning of the bear market.
DECISION BASED ON PAST EXPERIENCE MAY NEVER BE THE RIGHT ONE:It may be risky to base your decision on assumption.At the beginning of this bear market,there was a lot of assumption,many so sure that before we close our eyes and open,bull run will be here.Nobody ever expect the bear market to be this long,so, many decision made base on this assumptions as lead to frustration today.
In crypto,today you are up and tomorrow you are down.
To those caught up in it,you can only hope for the best,don’t give up.
The entire market is one full of risk and the moment the part of knowing what will happen in the market is taken away, the fun stops and the motivation to keep on moving is lost. There is no point castigating those who believed in the market neither is it necessary to make them feel bad that the make the wrong decision. Its simply a risk that fails to pay off and could happen to anyone. The bear market at this time is something that we cannot control neither do we know when its going to end but the take out is for us to live one day at a time. |
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This Wall Street company with 7 trillion USD (not million, not billion, but trillion) will handle bitcoin for institutional investors. Check it out: https://www.cnbc.com/2018/10/15/fidelity-launches-trade-execution-and-custody-for-cryptocurrencies.htmlFidelity Investments, which administers more than $7.2 trillion in client assets, announced a new and separate company called Fidelity Digital Asset Services on Monday. The firm will handle custody for cryptocurrencies such as bitcoin and will execute trades on multiple exchanges for investors such as hedge funds and family offices. Other crypto companies have debuted similar products, but Fidelity is the first Wall Street incumbent to officially provide cryptocurrency solutions such as custody. “Our goal is to make digitally native assets, such as bitcoin, more accessible to investors,” Fidelity Investments Chairman and CEO Abigail Johnson says. If this is true then it's something to be joyous about but at the same time should not just be the reason to start to alter position because when it comes to crypto, its always the opposite that usually happens and because the market is too dynamic and equally volatile to conclude a particular direction is what price will go due to certain happenings in the industry. |
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SEC will close the comments on CBOE ETF on November 5th, after this day they can reject, postpone or deny the ETF, in your opinion what will happen? if the ETF is rejected BAKKT will be able to push the prices up?, we have to keep in mind that the SEC is still analyzing all rejected ETFS again, is that a good sign? The next 3 months are the most important in the history of Bitcoin and it can start a new Bull Run, I'm almost having a stroke with this novel, Bitcoin more than 10K until December? share yours thoughts.
And today is November 5 in my own time zone while in some other places, it could have been November 6 and yet, I have not seen any significant change to price of bitcoin as a result of this SEC decision. I have come to realize that crypto enthusiasts are even the one that cause the panic that happens in the community. SEC commissioners have probably made the decision at the point of submission while they postpone in other to satisfy all odds while we are here speculating and panicking over ready made decisions. |
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I've heard some exorbitant fees are being charged by the people that own these Bitcoin ATMs (which are probably a huge turn off to people, but then again if people are willing to pay for it then so be it) But I wanted to know if anyone on here actually owned one and could provide some insight into the amount of money that can be made by owning one of them, two of them, etc.
Let me know!
Its not about what is being said, its a fact on the margin that is being attached to the buying and selling of bitcoin on the atms and it's really not their fault because looking at the cost of installing the ATM machines, the security around it, the back end firewall that needs to be up to date, the liquidity that also need to be maintained the margin is surely justified but the concern is for those who are newbies and wanted to try something out would realise how they have been cheated by these capitalists when they realise that they could actually get it cheaper. |
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The only basis for this kind of argument is because of the control which they cannot establish in the case of bitcoin and they will never accept it. The technology behind bitcoin is one that they will continue to appreciate till forever and that is what they will rely upon in bringing about the currency that they can control. Either way, it won't remove the place of bitcoin in history because that has been settled as one that disrupt the very way we know things are being done and challenge the overreaching ability of the powers that be in the world of finance.
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I'm new to cryptocurrencies and I would like to know, is there any possible legal issues with cryptocurrencies? I'll appreciate your valuable ideas and please help me.
Just like others have rightly stated that depending on where you live but based on the question you asked, its likely that your country of residence have not made a definite stand on the legality in the use of crypto currencies and that is where the issue of personal initiative comes in. One sure thing is something would ultimately be illegal whether its expressly written or not. Financing illegal activities is wrong using fiat but because there is no rule stating the use of crypto currencies does not make it acceptable. So, my advice is that you learn to conduct your activities with the current parameters of the law and you are sure to stay away from trouble. |
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I don't see any correlation between bitcoin market and ICO though. Well, they're part of the same ecosystem but nothing more. Its obvious that the price we witnessed last year was due to FOMO and thinking that the market is a get rich quick scheme. This year is different which investors learning from their past mistakes and getting smarter by the day. And we can't say that its no longer exciting, many are just waiting from the outside and will go back to the ecosystem once there's some sort of good news that will turn this market around. But altcoin market is different though, many scams projects, ETH losing its grip, projects dumping their ETH to recover the cost of their operations, EOS becoming competitor, etc.
There is actually a correlation if we look at it in a deep way that goes beyond being part of an ecosystem. In the past when the ICO market was receiving the hit, it rub off on the price of bitcoin itself because as they are carrying out their own individual publicity, a fresh investors who sees how interesting the potentials of such project will have to invest in only going through the purchase of bitcoin first and they are indirectly advertising bitcoin but today, what we don't get to see such 'free advertisement' as before which whether we admit or not, the effect of that is also rubbing off on price. |
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Blockchain is still thriving more in the United States compared to China and if we are to judge by the current statistics, its safe to say United States is winning this. But in the real sense, there is no conflict between the fwo on blockchain because both countries are proud and would willingly develop a new technology than to start running a rat race of blockchain that none of them can successfully claim credit as the inventor of this great project.
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Yobit is one exchange site that I know that would send a mail to their users about an impending pump of a coin encouraging people to buy in other to make maximum profit. That action alone makes me lose confidence in their services because I don't see such actions improving the market rather its causing more harm to the entire market. Every of their actions is gradually turning their entire platform to a pump and dump avenue without providing any growth to the industry. In other words, I agree that its more of a Ponzi platform.
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Crpto-currency being the future is a dicey one at the moment because the various hype that surrounds crypto currency is gradually being wiped away and for the message of being the future to be back in the mouth of many, there is need for solid rejuvenation of interest from every angle. However, the technology of blockchain still remains the best that is yet to happen because of the various interest and solutions that it has come to create for the entire active industry. Several technologies are still going to be developed and deployed but the blockchain would still survive till the nearest future.
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The same treatment cannot be applicable to everyone accused of certain actions because they all occupies different importance. The antagonism between the US and Russia has actually given the Chinese the opportunity for them to spread their influence to a position that becomes difficult to curtail and its strategic that today, you don't just wake up and sanction the Chinese without thinking of the effect its going to have on your own economy and that is there would be slow actions or non-action in this case.
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I believed you meant 2018 because referencing to 2017 means is the best year ever seen. 2018 has been a year filled with so many challenges that portends a bleak future. However, the past is in the past and there is no point whining over it rather than focusing on what the future portends for everyone. The best cause of action now, is to keep looking ahead and be careful not to be carried away by the spur of the moment which would then make one lose out on what going to happen later. For the speculators, its expected that they continue to make projections for them to continue their relevance in the crypto space and also to keep the hope alive in the face of uncertainties that have pervaded for months now.
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Stealing from the government for private benefit is a criminal activity that should be punished and discouraged. Even in businesses, its wrong to use the official properties for personal gains. But in this case, while the man should be punished, sentencing him to 3.5 years in prison is on the extreme that goes beyond just discouraging an action but to send a message about government stand against the continuous popularity of bitcoin.
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Blockchain cannot be the next Internet from the way I see it because for one, it needs the internet to function. However, with development that could happen just like the case of mobile banking that could be done with USSD without the need for internet connection. If this can be done for blockchain then we are ready to see something greater than the internet as it would mean virtually everything that thrives in secrecy would come to an end and that is the beginning of good times.
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