Bitcoin Forum
September 02, 2024, 04:44:40 AM *
News: Latest Bitcoin Core release: 27.1 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 ... 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 [312] 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 »
6221  Bitcoin / Bitcoin Discussion / Re: Thailand Legalize Crypto currency on: July 05, 2018, 11:48:01 AM
While there are several nations which are passing laws against crypto world.  Thailand has entered the list of the nations which have legalized crypto currency.  Thailand is mainly dependent on tourism industry.  So I think it is wise decision on t he part of a country where major source of income is from tourism.  So it will attract more tourists to this country.
It will benefit a lot to the country and is healthy signal for the health of Bitcoin family.
It is a good thing for cryptocurrency world as well as the country itself. For the cryptocurrency world it will probably increase the demand of bitcoin or other currency simple because tourism is one of asset of Thailand therefore it will give huge help to the tourist to easily transact in the said country. And also to the economy of Thailand will probably increase.
6222  Bitcoin / Bitcoin Discussion / Re: Why Bitcoin isn't a legit currency. on: July 04, 2018, 02:14:29 PM
The first purchase using bitcoins was in 2009 when someone bought 2 pizzas for 10,000 bitcoins. Today, that would be worth $83,746,850. Many people have started to use Bitcoin and it is now the most popular cryptocurrency in the world. Many countries whose currencies have become hyperinflated have thought about switching their national currency to Bitcoin. For something to be classified as money, it needs to be a good unit of account, medium of exchange, and store of value. Since Bitcoin has become extremely popular, I wanted to explain to investors and Bitcoin users that Bitcoin isn't a legit currency. The main three reasons why Bitcoin isn't a legit currency is because it is a poor unit of account, medium of exchange, and store of value.
   One of the big three parts of a currency is that it is a good unit of account. For something to be a unit of account, people have to be able to compare its price to the prices of alternative retail goods. Since the value of a bitcoin changes so much, it would be hard and confusing for both the consumer and the seller to recalculate the prices every day. “Because the value of a bitcoin compared to other currencies changes greatly on a day-to-day basis, retailers that accept the currency have to recalculate prices very frequently, a practice that would be costly to the merchant and confusing to the consumer.” This quote from David Yermack’s article Is Bitcoin a Real Currency? An Economic Appraisal Bitcoin shows why Bitcoin isn't a good unit of account. That is one reason why Bitcoin can't be a form of currency and why Bitcoin isn't a legit currency.
   The second part of something that is classified as a currency is that it is a medium of exchange. A medium of exchange is an intermediary instrument used to facilitate the sale, purchase or trade of goods. Since bitcoin doesn't have any intrinsic value, so its worth is held up by its usefulness as a currency in the consumer economy. The Youtube video “Why Do Banks Fear Bitcoin” by VisionVictory explains that there is a set amount of Bitcoins and by the year 2140, there will be a total of 21 million bitcoins. Miners have already mined 11.9 million of them, and this means that there is only 9.1 million left. Once all of it is mined, there won’t be any more left to be mined. Dollar bills can be printed by the U.S. government if they were needed. Some more reasons why Bitcoins isn't a good medium of exchange are that Bitcoins transactions each take around 10 minutes each, which is very slow compared to using a credit or debit card, which takes a few seconds. Also, Bitcoin transactions can cost around $20, which is extremely expensive. Because of all of these reasons, Bitcoin can't be a good medium of exchange, which is very important if it were to be a legit currency.
   The third and final part of a currency is that it has to be a good store of value. A store of value means that the function of an asset that can be saved, retrieved and exchanged at a later time. In the long podcast on Youtube by Paul Vigna & Michael Casey: ‘The Age of Cryptocurrency’, they explain what a decentralized currency is. Bitcoin is an atrocious store of value and one of the reasons why is because of its constant hacking attacks and other security problems. This is mostly because Bitcoin is decentralized, which means that there is no central authority that can stop any Bitcoin transaction or any hacking attempts. One of the reasons why Bitcoin is so popular is because people can stay anonymous and make transactions without people knowing who they are. The downside of using a decentralized currency is that people can do illegal things anonymously and get away with it. And also, Bitcoin’s exchange rate has no correlation at all with any other big currencies like the Dollar, Euro, and Yen. This makes Bitcoin extremely risky to use because it is tethered to any other currencies so its’ value would change constantly. This shows how terrible of a store of value Bitcoin is and why it cannot be a legit currency.
   Tons of people are jumping on the “Bitcoin Bandwagon” without doing their own research on it, and they’re going to lose a lot of time and money because of this. They need to realize that Bitcoin is not a legit currency because it fails to be a unit of account, medium of exchange, and a store of value.



As of now bitcoin is considered as one of the best investment because of its high rate and how much profit it can give. Also it is debated if it's going to be a currency or not. The very alarming thing about bitcoin that is enough reason to be banned and not to be considered and legitimated by the government is that its fluctuating value. It must have a fixed value to be a currency it is one of the requirements and I think bitcoin is not even close to that.
6223  Economy / Economics / Re: Speculation on BTC on: July 04, 2018, 12:08:06 PM
I was reading the Speculation section from the Economics forum yesterday, and two guys from the BTC Foundation said that 2018 will be the last time that Bitcoin will be under $10,000. I believe that this statement was made to lessen the worry that comes about every time that BTC drops. I don't know how anyone could make that statement in full faith though, as the nature of altcoins is its very volatility. Since it is not tied to normal economic conditions as fiat currency is, I don't quite see where that prediction comes from. The fact that many economies are talking about some type of oversight does show that acceptance is gaining and perhaps is a harbinger of more stable, and higher, prices.
Well this year has been rough on bitcoin in terms of getting back up on its price peak last year. But as predicted this will surely happen and fluctuations will definitely occur but in years time we can see improvement in price. Many long time investors also think it this way because bitcoin will definitely not fall just like that it will definitely come back but it's going to take a year long.
6224  Economy / Speculation / Re: Could Governments & Banks manipulate the price like this? on: July 03, 2018, 01:47:43 PM
Let's consider this :

Governments cannot stop Bitcoin by stopping the technology, but they can kill the interest that people have in buying bitcoins. Could governments with the help of Banks, be behind this falling price?

Last year we saw a huge increase in the price and I was thinking that it could have been a collective buying strategy by Banks to buy a lot of coins for a synchronized dump in 2018.  

If the Banks bought a lot of coins last year at the beginning of the spike from $1000 and they triggered a buying frenzy, then most of the more expensive coins would have been bought by the public. So they might just have bought coins to trick other investors into buying more coins.

So what is their goal? Their goal will be to break the demand for Crypto currencies and Bitcoin, by gradually dumping the cheap coins that they bought at the start of last year and pushing the price down. <Like what is happening now>

They know investors will have bought at the higher end, say $10 000 to $19000 and these people would probably have lost money, when they started dumping in 2018. They saw that "demand" for Crypto currencies increased, when there is a constant increase in the price and they are now creating a constant decrease in the price to break people's confidence in the technology and also the demand for the coins.

They will obviously use untraceable methods to do this, because the Banks are helping to hide the origin of this money.  Huh They can only print a few Billions more to execute this strategy and this will go unnoticed, because it is toilet paper money.  Tongue

This is the only logical reason why we are seeing a constant decrease in the price, in spite of all the good progress that we have made. It also explains the large spike in the price in 2017.

Hodl on guys and gals, do not be tricked by these cheap tactics. <If this is true>  Roll Eyes  
Probably of the government was holding a huge value of bitcoin they can manipulate the value of it, but if they do that it may seems that they uses money for nothing. They can't manipulate the bitcoin itself or the cryptocurrency because it is the technology who runs it not some person, even hackers can't interfere to the said currency, but the government can poison investors mind. Moreover investors that are afraid to take risk are not edible to be investor so the crypo world needed an investors who are willing to wait.
6225  Bitcoin / Bitcoin Discussion / Re: Why investors invest in bitcoin though some of them loose it ? on: July 03, 2018, 12:19:04 PM
As per my knowledge, Some investors invest in bitcoin when the price reach to 20,000$ but now price is hardly more than 10000$.
Should they loose their money?
But still investors are invest in why ?
They believe that the losses are temporary and given the time, bitcoin will increase in value again. That should be the mindset pf bitcoin investors, they shouldn't be afraid of price losses and take those as opportunities to buy more coins and profit bigger later on. They shouldn't think of it as "decreases" but rather as "discounts".
6226  Bitcoin / Bitcoin Discussion / Re: South Korea Opens Doors for Cryptocurrency on: July 02, 2018, 02:05:45 PM
Before this time, almost Korean investors really worried about new tax policy for cryptocurrency.
That's why all news said the government will apply 3~40%taxes for crypto at Jul~Aug.
But today, the government said we will apply 10~15%taxes for crypto like interest income tax, and it is very acceptable to all Korean investors.
Also they said we feel hard to say it will happen within this year and although will happen this year, there will be 1~2years stay period.

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&oid=023&aid=0003382087&sid1=001&lfrom=kakao

In conclusion, Crypto is accepted by government's legal property, SO MANY KOREAN INVESTORS WILL GET INTO MARKET AGAIN!


Apart from this, they will also make their very own centralized cryptocurrency. That will be regulated by their country's economic sector. Rumors say that the coin will be called "S coin" and they plan to develop it to the point that it can be used for micro-transactions, much like what bitcoin is originally intended to be, except it is primarily enclosed in their country.
6227  Bitcoin / Bitcoin Discussion / Re: Why are banks and governments scared of Bitcoin? on: July 02, 2018, 12:42:57 PM
So many countries now were prohibiting the use of virtual cryptocurrencies. And to think that many unemployed individuals were beginning to uplift their way of living because of their dealings with cryptocurrencies. Banks doesn't expressly say why it is banning the use of Bitcoin.
What do you think is the reason behind this?
They are not scared of bitcoin, they are scared of illegal organizations and crime entities abusing bitcoin's anonymity and privacy features, eventually leading in a crisis in the said country. That's why most countries take all important and needed measures to ensure that bitcoin is free of criminals in their country while making it still a viable investment method. While some countries just completely ban the use.
6228  Bitcoin / Bitcoin Discussion / Re: Why Bitcoin isn't a legit currency. on: July 01, 2018, 09:06:58 AM
Because bitcoin is still not legal all over the world. The reason behind it is the different flaws that bitcoin still face right now and one of it is its decentralized market which gives its users an anonymous transactions that is also being abused by some by using it in illegal ways. Second is its unstable price, because we now that the bitcoin's price really changes drastically unlike the accepted currencies that only changes a bit.
Nobody said it is a legitimate currency to begin with. Even the developers of bitcoin after satoshi nakamoto admitted that they couldn't make bitcoin capable of serving the main purpose it was made to begin with. If you're talking about the future however, then there's still a lot of time. We can't claim things too early as even a decade is enough for bitcoin to reach 20,000$.
6229  Economy / Speculation / Re: Market is slowly degrading on: June 30, 2018, 01:47:40 PM
I think it is really common, not all the times it will goes up,
there are some circumstances that part of the process and cannot be avoided, instead of being worried just stay calm.
More than this, people should be well informed of what measures could they take in order to help the cryptocurrency get back on its feet while making sure they are to profit at the same time. Most of all, make sure that the measures that they will take were completely legal and of big significance not only to them but to the cryptocurrency as well.
6230  Bitcoin / Bitcoin Discussion / Re: My country banned bitcoin. What I can do ? on: June 30, 2018, 10:13:11 AM
in my country pum also experienced the same thing, the government and banks prohibit everyone to ban bitcoin as a legal buying and selling tool,  Perhaps the government will reconsider when knowing how many people are against his decision.





I think Maybe they have strong evidence about illegal activity or transactions in Bitcoin and they do not want your country involved. and for whatever reason your State has, you can do nothing but obey. and hope that one day they will not ban Bitcoin anymore.
Maybe your country received a lot of negative feedback about Bitcoin and they just protect every citizen in it.
Look at every angle, why is bitcoin banned in the country, what would be the results and consequences of these prohibition to the country's economy and the quality of life for the users, will there be a way for affected people to gain back their investments or are they gone forever? Ask and observe first before taking action, this way, you will be enlightened and informed of all the important things and stuffs about the ban.
6231  Bitcoin / Bitcoin Discussion / Re: Which is more risky? Bitcoin or bank investment? on: June 30, 2018, 09:33:36 AM
Both forms of investment have risks.

At the bank there is the Deposit Protection Fund, this is worth nothing if the banks remain closed in a crash. Nobody can then take off from his account to buy food, for example.

In such a case, you can do more with Bitcoin on his phone.

However, the Bitcoin is very volatile and therefore not well suited as an investment.

Therefore, you should be broad and have something of every investment.
In a simple concept bitcoin is far more risky to invest on than banks, Because banks are intended to store and secure their clients wealth while bitcoin is a cryptocurrency. All in all, the risk it takes for bitcoin is easily paid off by the huge amount of potential profits users could gain investing in it. That's why even though bitcoin is far more risky, people still think it is better.
6232  Economy / Speculation / Re: Is bitcoin lead cryptocurrency market forever? on: June 26, 2018, 01:05:55 PM
Only time will tell if there will be any other altcoins that can overtake Bitcoin in the nearest future. As for me, i don't believe that any alternative crypto currency will be able to replace Bitcoin.




As of now it is evident that bitcoin is dominating the whole cryptocurrency industry. It has been the number one coin in the market for a very long time and it shows no signs of stopping despite the price decreases it has been receiving this year. However, this does not mean that bitcoin would be the number one coin forever. As there are a lot of uncertainties in this industry.
6233  Alternate cryptocurrencies / Altcoin Discussion / Re: Will Dogecoin have a future? on: June 25, 2018, 09:57:41 AM
I didnt knew doge were made for fun, but it is beauty, small fees are assured with doge due to its low value, we can moove milions with small fee, something bitcoin were supost to do as well. Besides those doge is one of the best coins to trade because due to its low value we can proofit with 1 satoshis up, its insane one of the best coins for trading.
DogeCoin being a  laughingstock of the industry because it's a parody coin, has shown nice price charts and growtgs right now. More than being uncapped, there are other striking features this coin has to offer from its investors like being cheap and has a stable rate than most cryptocurrency right now. That's why I think dogecoin will have a good future in the coming days when tge industry prevails.
6234  Alternate cryptocurrencies / Altcoin Discussion / Re: Is it better to have many altcoins or it is enough to have few? on: June 25, 2018, 09:15:53 AM
I know that there are many kinds of alternative coins existing today, but is it better to have that many coins instead of having just a few? What are the benefits and harm in having that many alternative coins?
If you really believe to a specific coins you may choose few. But its better to hold more as long as you can monitor  those coin or you can mange it, keep that in mind that tou may choose a coin that has a big potential to pump. Make your own research about the coins before investing.
For me, I think having less altcoins available will do better than having too many altcoins in the market. This will ensure that the industry is not saturated and therefore it will not be stripped off of value. Having less yet strong crypyocurrencies is better than having many coins that are only good for a year or less. And having less altcoins in the market means more profits for the investors.
6235  Bitcoin / Bitcoin Discussion / Re: Panic sellers, please head for the exit (and don't come back) on: June 24, 2018, 01:42:00 PM
please be advised maybe people who easily panic using emergency money for trading and still do not know how good and correct trading, that's why bitcoin education is very important.
It is a very serious concern in the industry to be honest. The sudden surge of investors last few months that are driven by the price increase last year. They really aren't helping the industry anyhow. If anything, their cowardice and lack of decisiveness leads to bitcoin suffering worst price decreases right now. I hope that next year, upcoming investors are more knowledgeable and wary of the functuins if this industry so things like this would not happen anymore.
6236  Bitcoin / Bitcoin Discussion / Re: Is CHINA CONTROLLING Bitcoin? on: June 24, 2018, 01:25:30 PM
People here have claimed that Bitcoin is in fact controlled and ruled by China, as mining is centralized by Chinese mining institutions.

Do you think that China is controlling/ruling bitcoin yes or no?
i think china can not controlling bitcoin and impossible to control it the china is a big country and big percentage if the bitcoin ban in china the value of bitcoin is down to low.
Just because China holds a large amount if bitcoin miming facilities in their territory doesn't meant gey are directly co trolling the price and even so the power of bitcoin. The power they have with bitcoin is the same as ours only. And that is being able to become a part of the increase or decrease i  bitcoin's overall value. After all, bitcoin is most known as a cryptocurrency with a decentralized nature which makes it impossible for this country to milk money from bitcoin.
6237  Bitcoin / Bitcoin Discussion / Re: Bitcoin has no competition on: June 24, 2018, 11:56:10 AM
All those FUDsters that where saying year ago how Bitcoin would fail because another currency would take over get proven wrong year after year. The more time Bticoin is alive, the stronger it gets and the bigger the network effect. Sorry but there will not be a Bitcoin 2.0. Bitcoin will go to 100k+ per coin in the next 5 to 10 years, it will absorb all the value researched in the field if not directly through protocol improvements then through sidechains.

Bitcoin will remain the only solid coin. The only coin that survived for the longest time (other coins can't claim this unless they invent a time machine).
There will be alts that pump really hard and make people millionaires, but no alt is going to surpass Bitcoin's strength and solidity. No coin will get a bigger marketcap. In the long term people holding 21+ BTC will be rewarded by history with rich-tier status for seeing the value in it before most people did. Do not let the FUDsters trick your mind or the trolls try to derrail the excellent job being done by Core devs.

Let's continue then our path towards inevitable triumph.

This is already concluded that Bitcoin is very stable and strong on these years of 2016 and 2017 in which no Altcoins have successfully supersede it during this time but now this 2018 in which Bitcoin will now be tested again as this year current performance is average low and almost reach the $6,000 from ATH of 19,800. Most people are now afraid to join the investment because instead of it will be an opportunity to buy at cheaper price it now makes people to confused and afraid to join thinking that they might lose their money. Therefore let's wait and see again of what will going to happen next.
Although as of now, bitcoin has virtually no competitors that could equal the said cryptocurrency in terms of power and value, we can't really tell whether this would go on for as long as the industry is alive. But don't fret though, because bitcoin being replaced by another cryptocurrency in its number one spot is mot a bad thing but instead an indication that there is a healthy competition in the industry.
6238  Bitcoin / Bitcoin Discussion / Re: Best way to store Bitcoin safely ? on: June 23, 2018, 11:55:13 AM
Hi guys
I know this might sound like a newbie question, but Ive not had enough bitcoin to think about putting any in cold storage since Cryptsy ripped me off when they went down Sad
But just lately ive built myself back up a bit, and just need to check my understanding of a creating a cold wallet is correct ? This is what I think was the best way but im not sure Huh

1. Download latest BTC client
2. move to a pc not connected to the internet.
3. Create an address on that PC without internet.
4. Send fund to address created on PC with no internet access.
5. Save keys in safe place Smiley

Also I was wondering if there are any 100% safe third party wallets that enable quick access if needed ?

Sorry if my question has been covered many times, but I just don't want to make a big mistake.

Thanks
Rick
There are bitcoin wallets, both that comes in software and hardware variations which provides their own advantages and disadvantages. Trezor and Exodus are very cheap wallets that doesn't need registration or verification so anonymity is never an issue. But your investments are pretty much gone forever if you forgot your credentials.
We have different wallets that we cant use. And the best way to store our bitcoin was put it there. What we need to do to become our bitcoin safe was never forget our private keys or anything that was connected to our wallet so that we can easily recover it. The safety of our bitcoin was depends on us on how careful we are on things like this.
There are bitcoin wallets, both that comes in software and hardware variations which provides their own advantages and disadvantages. Trezor and Exodus are very cheap wallets that doesn't need registration or verification so anonymity is never an issue. But your investments are pretty much gone forever if you forgot your credentials.
6239  Bitcoin / Bitcoin Discussion / Re: Those that think Bitcoin will help developing Countries are in a fallacy on: June 23, 2018, 09:41:39 AM
Sometimes i read stuff in this forum, so ridiculous but completely wrong, what so many people think, because they simply have a very small portion of awareness how the world works and only do quick assumptions on few information

Thinking Bitcoin will help developing Countries is absolutely wrong, situation for developing countries might even get worse.

firstly: mining Bitcoin is happening mostly in developd countries and in developing countries where there are already electricity shortages the mining of bitcoin makes it even worse, leading to higher expenses for electricity which is needed there for educating children, or building schools.

secondly:
Bitcoin increases costs for electricity in the developed world which then makes prices higher for the industrial production of investment goods like machines for farming and many moore, which the people in the developing countries need to develop their country.

thirdly:
Bitcoin changes what the youth in the developed world is doing where bitcoin and cryptocurrencies are more likely to be created mined and earned towards not developing poor countries but now towards fullfilling the greed of those that are running the mining and crypto infrastructure.

Lambo memes are a very good example of that. it represents the greed the pump and dump schemes

and much more.

these crazy falacities come from a curse of life, which comes from the need to do decisions and asumptions based on very few information.

but you know what the biggest joke of all this is?

the people in the developing countries can't do anything about that, they have to accept that.

regards
That's the reaskn why some third- world countries ban the operation of bitcoin in their country specifically bitcoin mining. I don't see actually why they do so because mining isn't a very rewarding method to earn after all, there are other ways to earn bitcoin's which are relatively easier to do and are cheaper unlike mining which is very expensive and complex for the common people to do.
6240  Economy / Speculation / Re: Is there any fast and easy money here in cryptocurrency? on: June 21, 2018, 02:02:05 PM
I was just so curios since i am new also with cryptocurrency and i wonder as i read too many threads about getting good rewards from bounty campaigns like signature campaigns that receive BTC weekly or monthly and as i checked bitcoin market price today relatively so expensive. Many are great these are with the accordance basing on what i have read. Well maybe those people are fraud as i had began to join this system i dont feel there is great in it like getting a good reward instead i feel that this is just like a work that you need to perform in order for you to gain. Is there any fast and easy money here in cryptocurrency?
The common misconception a newbie has over cryptocurrency investment is that cryptocurrency investing means easy money. To which I oppose because you have to be patient and supportive of the coin you invested on to gain desirable amounts of profits. Without these two things, you wouldn't gain anything in this industry. To sum it all up, crypyocurrency investment is just like any other job out there where you need to put effort to gain rewards.
Pages: « 1 ... 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 [312] 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!