Probably yes! When the policy makers call for open public inquiry, it shows they are willing to hear out the people. Few months back, Australia also opened such discussion with their citizens to hear their proposal on the bitcoin and crypto currency. Today Australia is one of the most crypto favored nation. Philippines is coming up fast as a destination of global business outsourcing. Even my company opened up a center in Philippines to support our global clientele. It shows the eagerness of the government to support development. I won't be surprised if they decides to adopt bitcoin in their economy.

However, can you please share any link of news which confirms about this open inquiry extended by Philippines government?

Gambling is a business just like any other business. To sustain a business, they need profits and it's not wrong. Gambling houses are not here to do charity! When people gamble, they mostly understand the risk associated with it. Majority of the gamblers understand the risk of loosing money if not all. They also understand that they can win big in their luck support them. That is called responsible gambling! One should not gamble with their last saved penny but if anyone with control to his emotions and finances, will never go bankrupt because of gambling.

It's just the outlook of people towards gambling needs to be changed. Yes, there are people who has gone bankrupt because of gambling. But we have seen instances of people going bankrupt after investing in stocks as well, that is also a form of gambling, packaged in sophistication! I strongly believe, gambling is nothing wrong if you play responsibly. The problem starts when someone goes out of control.

Goldman is a business entity, so they will always try to do a market survey before starting a new venture to estimate how much money they can make out of it. So I won't be surprised if they call their customers for an open discussion to understand the market potential. Also there is a risk factor associated to it. Bitcoin is not yet accepted by the majority of the governments and its status is still unclear. So it is a big risk for a traditional financial institution as it involves their reputation as well. So they will judge the water before jumping into it.

However, if they finally decides to jump into this market, I am sure, it will pave ways for the other big players too. There are many big corporates sitting with tons of cash but they are not investing their money into crypto currency assets, because of the unclear legislation. If Goldman finally steps into this market after studying and removing all bottlenecks, it will be used as a reference to many other biggies and we will see billions of dollars coming into this market for good. I won't be surprise of it finally takes us to the road of legalizing bitcoin.  

Banks are the service providers. The basic idea of banking is to get deposits from common people and lend that money to the businesses and earn the difference in interest. That's the basic business idea of a bank. With time, it has increased its reach and deepened the root in the society. But we all know nothing can be flawless. I strongly believe that Darwin's theory is also applicable in the business world. If a business model can't cope up with the changing demand of the market, it will be obsolete. Banks were the backbone of the financial system of the society since decades, because we didn't have much other options in hand. However, now we have crypto currency and we are not anymore dependent on the bank for moving our money. Banks are picking up unnecessary fight just to maintain their relevance in the financial system. Instead they should explore options to adopt the crypto currency for a better future and to stay within the competition.  

So banks can't decide things alone. They have to match with the demands of the time. The famous freedom fighter of India, Mahatma Gandhi once said "First they ignore you, then they laugh at you, then they fight you, then you win". History may repeat, you never know!

Here is the recent development on the case:
https://cointelegraph.com/news/india-delhi-high-court-seeks-response-from-central-bank-on-recent-crypto-ban-report-says

If you had posted this topic during late 2017, I would have agreed with you in all true senses. But after the adoption of Segwit, bitcoin transactions have become cheaper and faster. Probably not as cheap as LTC, but bitcoin fees has come down by a great extent. That was the goal behind creating cryptocurrency, to make p2p transfers affordable and faster. It's great see what cryptos have already achieved. This story is another addition to the success list. This one aspect certainly doesn't make LTC better than BTC. It will remain a boss of all cryptos till the time cryptos exist in this world.

Even though I want your prediction to become true, but I am more  interested to invest on facts rather than a stranger's advice. So do you have anything to support your statement? I would love to see something really trustworthy before I put more money into some asset where I already have a lot of exposure.

We can only dream about such world where people were given choice to decide on political and administrative matters. But it will never become a reality. However, to answer your question, I will define bitcoin as a commodity instead of a currency system. Let me explain why,

1. Parallel currency system is not required:
Assuming the government already has an established fiat currency system so accepting bitcoin as a currency would just add another parallel currency system. It would just be an additional way to pay or receive money. So that is not a very effective way of leveraging the power of bitcoin.

2. Commodity won't restrict bitcoin to be used as a currency:
I would like to see bitcoin as an investment. This will provide few additional benefits to the current economic system. Because commodity will attract new investments from the market and due to the price fluctuations, it will provide a source of income to the speculators. Making bitcoin a commodity will certainly not restrict its usage as a currency.  People can still use it as a currency between the willing parties.

3. Extreme price fluctuation is not good for economy:
Yes, you heard that right. Extreme fluctuation can only be helpful if the price goes up and never goes down. But Bitcoin's price can go down to any extent within a very short period of time. So look at the below scenario,

Today's Bitcoin price: $1000
I accepted payment of 1 bitcoin in my store for a goods that costs $1000.

Tomorrow's bitcoin price: $800
I will make direct loss of $200 within a day. Similarly I would make profit of $200 if the price goes up to $1200.

This kind of extreme fluctuations is good for speculators but not good for the sellers of goods and services. It can bring good returns as well as great losses. We don't yet have organized hedge funds who can provide risk covers and not everyone is expert in it.

Even though bitcoin was initially started as a currency but we have deviated from that path long back. It has become an excellent but risky investment choice. So making it a commodity will pave the way for new possibilities.

I doubt your view on gambling and that's exactly I am trying to point out. I understand that gambling has ruined a lot of lives but they were probably all addicted to it. Addiction to anything is not good, be it alcohol, smoking, gambling and trading. However, if someone can control their greed and emotion, gambling won't take their lives. These addiction is mainly associated risk to this industry and depends on the individuals. Gambling, as a whole can't be blamed for that.

True! The flow of bitcoin is very necessary for it to flourish so it is better if we can see more numbers of users than holders. But you also must not forget that, holder are those who believe in bitcoin and believe in its potential. So we can't ignore them either.

We mainly have two different types of people in any market. One is trader and another type is investors. Traders are those who frequently execute trades to earn the difference in price and they are the one who likes to take risk. The other set of people are not risk takers and loves to hold any asset for longer time. On the other hand, investors are those who are not willing to take much risk and executes a trade only if there is a significant price difference. But both of these types are equally important for a healthy asset. We can't ignore one type for the betterment of the other.

Traders are mainly driven by the market opportunities. So if a trader sees a better opportunity is ripple today, he will switch his entire fund to Ripple from bitcoin to bank on that opportunity. If would not think twice if the opportunity is prominent. On the other hand, holders would not sell off his bitcoin assets if he spots a market opportunity. Instead he will infuse extra money into that opportunity and keep his bitcoin assets intact. Holders are the true believers. So  a balanced mix of holders and users will be good for the growth of bitcoin. But certainly we can't ignore them.

Another successful campaign by Yahoo and all payments received promptly. Thanks Yahoo and Eligma team.

Not particularly excited about this news. This @bitcoin twitter handle doesn't promote bitcoin, instead it promotes a shitcoin like BCH. However, it's a free world and anyone can promote anything. But this act of twitter doesn't do any impact to the original bitcoin.

I believe, this thread needs to be moved to "altcoin discussion" section, because this is what BCH is, an altcoin.

For me, day trade is 80% skill and 20% luck. People who blindly trade based on their intuition without applying any particular strategy, are among the loosers. They are such kind of people who scream most after they loose a trade. As you are saying that youtubers use a lot of charts for their trading, there's a significance to it and that is the reason why they use it. It is not a rocket science and anyone can learn it. So if you are too lazy for these kind of stuffs, it better for your to HODL. But if you really want to become a trader, take the pain to learn the tricks and strategies. I am not saying that you will win in every trade after learning the strategies, but at least you can limit your losses and recover it afterwards.  

Every business has a good time and a bad time. With this kind of forced verification attempts, the bad time will start for localbitcoins. I am sure a lot of traders will be migrated to paxful after such kind of verification attempts. Even though I didn't get such notification from them because my trade volume with locabitcoins is not very significant, but it's better to be sure than to regret later. I am switching to paxful now and I am glad that paxful is already active in my country with lots of traders.

According to a recent publication from bitcoin.com, Kali Digital Eco-Systems, the company behind the upcoming crypto currency exchange "Coin Recoil", has appealed to the High Court in Delhi against the recent crackdown on banks providing services to bitcoin related companies by the Reserve Bank of India (RBI). It argues that the ban is unconstitutional on two main grounds.

Article 19 of the Constitution of India guarantees citizens’ rights to carry on any occupation, trade or business. But by preventing exchanges’ access to baking services the government is in affect preventing people from engaging in the business of their choice.

Article 14 prohibits discrimination based on arbitrary and unreasonable classification. The petition explains that the RBI did not provide a clear definition of what constitutes ‘virtual currency’ and that this ambiguity dilutes any reasonability in what may be alleged as a classification.

I say, at least someone has the guts to do it! So if you see the change, be the change and sign this online petition for a better India!

Sign here: https://www.change.org/p/rbi-make-india-at-the-forefront-of-blockchain-applications-revolution

News source: https://news.bitcoin.com/indian-exchange-takes-central-bank-to-court-over-bank-ban/

I certainly don't agree with your point here. Definitely they are controlling a huge volumes of crypto currencies including bitcoin but that certainly doesn't empower them to limit the bid price as well as the ask price. IF an exchange is limiting these prices according to the market price, they are doing it to prevent fake volume. Even though I am not aware if any change is doing it, I believe not!

Also I don't understand that fact that the bitcoin price is going down because of the big players. One simple question I have here, If I have 1000 bitcoins  in my storage, I would definitely want the price to soar high on the contrary of going down. because if the price goes high, then only my net worth will increase. My net worth won't increase if the bitcoin price goes down. So why would a big player of crypto currency market want the price to go down? 

Yes! Gambling can make you broke if you can't control your greed. That's true for even trading. I have seen people asking questions on how to recover their thousands of dollars losses in trading. I have also seen people winning big in trading and gambling both. I know the owner of wheel99 website had won 23 BTC jackpot from Bustadice. I have seen a person won 37 bitcoins from FortuneJack on March 30th this year. When we look at the negative side of gambling, we also should look at the sunny side of it as well. 37 bitcoins, is a huge amount in my country and I can start my own restaurant business in my city after paying off my mortgage. That is a life changing moment. Gambling helped a lot of people to change their life forever in good way. We must factor in those things when we factor in the negative things while talking about gambling.

It's entirely your choice whether to gamble or not, but certainly that doesn't give rights to anyone to show gambling in a negative way of earning money just because of the risk it involves.

  

I am not a veteran in this gambling industry so trying to understand what majority of the people thinks about it.

I have seen a lot of threads in this section as well as in other online forums which always protrayes gambling as a negative line of earning money online. I have seen people comparing gambling with alcohol addiction. I have seen people actively trying to discourage others from getting into gambling industry. What's wrong with gambling?

It is just another business and also legal in many countries. People who buys lottery tickets are also gambling only.

 In trading industry, you bet on your speculation and in gambling industry, you bet on your luck. In both trading and gambling, there is a risk of loosing money. So why trading is seen as a good way of making money and exactly opposite for gambling?

I belive it is just a social taboo about gambling and we need to rethink our stand towards gambling. It is just another legal business. What's your view?

Bitcoin and gambling are two different thing and you must not mix these two. It is very much possible for a country to legalize bitcoin but not gambling or casino business. The exact opposite can also happen. So if a country legalize bitcoin as well as casino gambling business, they won't have any issue in providing license for bitcoin casinos, otherwise not!

164 trillion is huge pile of money. As per the latest data, the GDP of world is 133 trillion in terms of purchasing power parity. So the debt is increasing the GDP by almost 23%. That's a matter to worry for sure for global economics.

However, it certainly doesn't correlate with crypto market. Because Bitcoin's market cap is mainly dependent on the retail investors like us. The organized sector has not yet invested in bitcoin in a significant level. So I am sure that crypto market will remain as it is and will continue to grow.

Because this huge amount of debt is accumalted by the governments and organized financial sector. Even though banks and governments are going to recover that debt from normal people like us, any large impact on bitcoin market is not warranted at least now. Because this amount of debt was existing since last few years and within the same time, we have seen enormous growth in bitcoin market.

I believe, people will be more interested in bitcoin during an economic slowdown because bitcoin and crypto market is usually not influenced by the governments.

Human intelligence is far more superior than any bots available in the market. You are probably loosing because the entire market is loosing now. The mode of the market is bearish and it is hard to stand out as a trader, so you are not alone who is loosing money in this market. Trust your instincts and wait for the right time to trade in this bearish market.

You can certainly test out any bots but I am sure, you will finally stick to your own intellect and decision making power after using a bot. Instead, take time to educate yourself about new and existing trading techniques before investing another dime into trading. A lot of trading materials are available on internet and take time to read and understand those. Equip yourself with better knowledge instead of using bots, that's profitable in long run.