hi folks let me tell you what i think is going on right know Prices falling while value is increasing can only mean 2 things: 1. Either the price went up too much last year and is now correcting, or 2.: people don't get the value yet and we will see a strong price increase in a few months most likely is second option We will soon find out! tell me what do you think  I frankly did not get your statement. You have said that "right now prices falling while value is increasing". What do you mean by value here? Secondly, how do you fix the parameters for bitcoin's value? It is obvious that we haven't yet discovered the full potential of bitcoin and the blockchain technology. A lot of things are expected to be discovered with time. So a huge potential of bitcoin is still out of our reach. It can work like magic in our daily lives. Who knows, the price can also reach to such a level, which we can't even think off. So if you believe in the technology, would suggest you to keep buying bitcoins at every dip and HODL. I am sure a lot of long term investors are doing the same. |
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I am sure, you want to ask, If the Communists come to power on the whole planet, WOULD they ban bitcoin or not?
I think yes! Communism is built on the idea of strict centralization and Bitcoin is directly opposing that idea of centralization. So probably they would want to ban it.
But again, not all communists are same and a lot depends on the person who is holding the power. While we have seen communist countries like China and North Korea, we have also seen another communist county like Russia. So over generalization of communism is not a good idea.
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In my Opinion regulating cryptocurency industry will be a good thing in the long run, with the most important aspect being mass adoption. Everybody on Steemit is really early adopters of the new technology and this will count in all our favours in the long run. For me regulation means mass adoption, as more and more people will feel more comfortable to invest their money in Crypto Currencies. And we all know that when more money comes into crypto, the prices of everything usually goes up and I do not believe that regulation will cover that we all have to declare exactly how much Bitcoins we each own.
Few days back I have also said the same thing about regulation. People are actually mixing prohibition and regulation as same which is actually incorrect. I too believe that regulation will actually help in mass adoption. The conservative class of the investors are staying out of the crypto market because of the lack of clarity in crypto legislation. So if Cryptocurrency is regulated worldwide, these class of investors will start pouring in, pushing the demand and price to the higher level. Now on the declaration part, it is still unclear. Where Cryptocurrency is considered as a property (like USA), probably declaration will be required. But where Cryptocurrency is considered as a currency and means of payment (like Germany), that might not be required. But I am not sure since I haven't yet read their circulars. But without doubt I can say, regulation will have positive impact on the Cryptocurrency market. |
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The largest search engine on the planet, Google, announced formally it will restrict advertisement of “Cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice),” including aggregators and affiliates regarding “cryptocurrencies and related content.” The article itself completely: news.bitcoin.com/following-facebook-google-bans-crypto-ads-no-currencies-icos-exchanges-wallets-advice/What do you think will happen to Bitcoin and his price?There should not be much effect on price but we may see some effects on the incoming traffic to the crypto related business. Because majority of the crypto advertising campaigns are done through Google advertising platform and if it is suddenly stopped, we will see an impact on new traffic. But I don't see any reason for price decrease just because of this reason. Goggle is just trying to stay out of the controversy I believe. Because If they really cared about its consumers, they should have banned ponzi and porn campaigns first instead of banning crypto advertising. |
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I think the very first argument is something you just can't accept. I understand cryptos have that basic idea of anonymity and all but still whatever you say it doesn't really has the capability to turn the whole empires. You can expect cryptos to be used in normal day to day procedures but obviously government wants your data to keep every kind of control on you. The second point is just the biggest argument against this KYC scheme. There is probably no security measure that ICO owners take to keep a check on the security of KYC data so its a big concern.
Governments keeping the KYC data and ICOs asking for KYC data are two very different scenario. Government is the owner of your KYC data because they issue your ID cards, so they ask for it, it's normal because we are assured about its security. But when an ICO does the same, there is a concern because we don't know about the identity of the ICO owner, neither we are sure about the usage of those KYC data. Identity theft is a big crime and can lead anyone to a big mess. Experienced it in the past, before they say that immediately after the TGE happens everyone who bought in their ICO will receive their tokens. But after the TGE happens they announced in their website as well as their Telegram group that they will instead manually distribute their tokens which they are now requiring KYC, this is a really big catch in which they have not announced it earlier. Basically what happens is they are trapping you with only one choice as if you don't give your information and necessary requirements they are talking about you wouldn't receive your tokens you have bought from them.
Changing the rules after the game is wrong. For me it is a sign of a Scam. Probably the tokens of such ICO will not have prices. So you won't lose much if they don't give you tokens. But it seems to me that the duty to fight crimes is the duty of the state. ICO and cryptocurrencies don't have to accept the rules of this dirty game. KYC rules should not be accepted in the cryptocurrency community.
These are signs of scam and unless someone have bought significant amount of tokens, they should accept the loss instead of trying to get the token by providing the KYC data. Because if a company is not upfront with their communication, they don't have any business ethics. They are likely to mess up big time at any point of time. So your investment will be gone in any ways. We need to have services like Jumio or Onfido in this field. Where the investors will verify their identity and get an ID number. Now they can pass on that ID number to the ICO companies they are investing. The ICOs will be assured about the identity of that person but will never have the documents in their hand. That is one solution that I can see to overcome the KYC risk as of now. |
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It is good to see that you are still holding to your faith on bitcoin while there is a panic selling activity observed in the market. Basically two news is currently ruining the market big time. One is MtGox trustee selling 700 millions worth of bitcoins in the open market and the second one about Google banning crypto currency advertising.
We all need to understand that these are temporary phase. Once these are gone, the market will be up again especially when Germany announced their positive stand on crypto currency. A lot of good news are just around the corner. 2018 will be the year of adoption. So my suggestion is to buy while the price is cheap and wait for some more months. You will be amazed by the return you will get.
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The markets are very sensitive to any sort of news, good or bad.
There are a few stories going around at the moment, the MtGox
trustee who sold $700,000,000 worth of BTC is affecting the
market along with google banning ICO paid ads has an effect
also.
There are traders making advantages from the situation and
the added effect of people panic selling all drives the price down.
Its all short term though.
That's one part of the story you've mentioned. When a person or an organization sells so much bitcoins in the open market, it increased the supply in the market while the demand stays same. So it creates a disparity in the demand supply chain and pushing the price down. The second reason is the google's ban on the crypto currency advertising. Google has declared that they will not advertise any crypto currency related matter in their advertising platform. Now Google is the biggest giant in the advertising market and a major percentage of the crypto currency advertising is done through this platform. That triggered a panic among the market. Due to this two reasons, the entire crypto currency market is going down to red. However, it also provides a good opportunity to the believers to score more at cheaper price from the market and to thoe who are looking for averaging out the buying price. This is a temporary effect and the market will surely get back on track within few days. So bank on the opportunity. |
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Guys hi, Did you hear about it? In a post published Tuesday, the firm suggested that it will certainly change its existing monetary product restriction listing in June this year, blacklisting ad web content “including yet not limited to initial coin offerings (ICO), cryptocurrency exchanges, cryptocurrency purses, as well as cryptocurrency trading suggestions.” “Such advertisements will not be allowed to serve,” the blog checks out. In addition, the restriction will relate to Google’s both proprietary as well as associated ad systems. “We do not have a crystal ball to know what the future expects the market to cry out. But we have seen enough harm for consumers in this area, so we want to approach it with particular caution, “- said on Google. The bitcoin price was largely unchanged after Google’s announcement. source: http://icowatchers.co/google-will-ban-ico-and-crypto-advertisements/I am little sceptical about this announcement. I havent seen any such posts coming out of Google and Icowatchers blog also did not cite any link to their blog. So the source remains unknown and un-verifiable. But if this happens, it will not be a good news for the community. A large portion of the Cryptocurrency marketing is done through google ads. If it suddenly gets stopped, it will harm the market in a big way. Google should have stopped ponzi advertising instead of Cryptocurrency. |
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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?
It's true that government or any other regulatory body can't control bitcoin, but they can certainly regulate the circulation and reach of Cryptocurrency in their own jurisdiction. That's exactly what governments are trying to do. They are imposing tax on their citizen's Cryptocurrency income and allowing it to mix with their strictly centralized economy by providing a framework. Trust me, regulation and taxation will actually help to increase the adoption rate of Cryptocurrency. |
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Recently, Israel Tax Authority said that Bitcoin Not a Currency But an Asset..
Is there any regulation impose on this after this decision?
I am waiting for the upcoming news....
Not just Israel, but even USA regulators said the same thing about bitcoin and legally termed it as a property asset instead of a currency, which is certainly wrong. Since bitcoin is an asset in Israel, it will be subject to capital gains tax. There are two basic types of capital gains tax, one is long term and another one is short term. The term depends on the holding period of bitcoin. I am not sure about the Israel tax bill or the regulations. But these are the basics. So government want to encourage you to hold bitcoin as an investment instead of using it for goods and services. |
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If btc down will altcoin also down or will it have a future without bitcoin
The market dominance of bitcoin is currently at 41.7%. So it is the strongest currency among all other crypto currency. That is the reason why we are seeing a trend, where altcoins go down along with the price of bitcoin. But there are few altcoins as well that goes up when bitcoin goes down. In real world scenario, you can compare it with the behavior of gold. Usually when the stock market goes down, the gold price goes up because people move their funds to gold for capital protection. I have seen DigixDao and SirinLabsToken with the similar characteristics. As of now, the current trend is much similar to what you've mentioned. But slowly we will see a reversal. Currently bitcoin is being mined and we have a stable supply in the market. But once all bitcoins are mined, we will have to rely on the external sources of supply like traders and consumers. That is the time, when we will see the reversal of trend. Some other worthy altcoins will take the position of where bitcoin is now and control the market along with its movement. But for now, you've correctly mentioned the current trend. |
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All folks know that Microsoft is centralized. Bitcoin as a community that values decentralization should help Linux by using it. The best for cold storage and other advantages and tools. Besides the added security.
Just a shout out!
Linux has certain advantages when it comes to security for the miners and for the cold storage owners. On the other hand, Windows gives us the pleasure of simple computing using great GUI. So for simple traders like me, windows is better for its usability. So it is advisable to install windows first and then use VMware or any other virtual server application to install Linux in it. This way you can get the best from both world. |
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If centralized from the core and circulated by banks, bitcoin will become a normal currency in disguise of Cryptocurrency. Just the application will be virtual and nothing else. The basic idea of Cryptocurrency will be doomed. Governments and Banks will control the circulation and your freedom in virtual world will go for a toss.
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I write of course stupidity. But I will say. What can we resist the increasing attempts to regulate bitcoin? It is to be hodlers. Even if you actively play on the stock exchange, do not sell everything. Let the small part will be all of the market. This process must be stepped up. We need to be fanatics and we will win.
I am not sure I've understood you correctly. But let me make one thing clear that, regulation does not mean prohibition. Today itself I have seen a similar argument where op correctly pointed out the difference between regulation and prohibition. I believe the community need to understand that fact. Imposing tax on bitcoin income is a regulation, but blocking exchanges is a prohibition. So regulation is healthy for the crypto community as a whole and may fire up the adoption rate to an exponential level. Just to add, HODLers are the biggest supporters of bitcoin because they believe in it with their hard earned money. They are the loyal group of supporters. Those who change from one currency to another, they are quick profit seekers. Even though we need both of them to be present in the market, the quick profit seekers are like gold-digger girlfriends. |
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So this financial agency Weiss released a cryptocurrency review. While there was no coin scored any A's, the highest scoring coins were EOS and Ethereum, scoring B. Bitcoin scored C+, falling behind Steem who scored B-  Here's the whole list:  Based on Weiss' article, A-B means "buy", C+/C/C- means "hold" (HODL!) and the lesser scores means "sell". I'd like to hear what you guys think! Disclaimer: I don't know how legit this Weiss agency is. That was an interesting read. While I am not sure who weiss rating company is, but I believe they have done this ranking based on the technical factors associated with each Cryptocurrency. So we all know that a lot of altcoins available in the market who are technically advanced than bitcoin. It has a lot of technical limitations compared to many other altcoins. But I honestly feel that bitcoin should have kept aside from this list of rating to show some respect. Because bitcoin is pioneer of blockchain technology and altcoins came in to existence after covering the technological limitations of bitcoin. So altcoins actually used bitcoin as a reference while developing. I will not be wrong if I say that every altcoin is an upgraded version of bitcoin. So no matter what a rating company says, bitcoin will always remains the best, for me at least. |
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Hello, everyone. Tell me, what can you say about the cyclical nature of the cryptocurrency market and news that this correspond to? I came to the conclusion. When the market falls, we can see only bad news about different prohibitions, regulations and wallet break-ins. Conversely, when the market grows, the media screams about how well it is developing, about different releases, updates, successes and plans for the future.
Who that thinks about this?
You've mentioned the effect first and then the reason while it should be the other way around. Bad news and FUDs are the reasons for the negative effects on the market. There may be some news websites that posts bad news when the market goes down and vice versa. But it is because these websites catch up to the trend a little late when the effect is already present in the market. But if you follow major news websites like CNBC, CNN money, Yahoo Finance etc, you will see a different dynamics of the market. |
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Basically what I understood from this article is that only ICOs with USA connection should be worried. That's what it is meant. While SEC is an US regulatory body, there are countries like China and South Korea who have also banned ICO from originating from their soil. But they all have failed miserably to provide a long-term solution to this crowd funding method and banned it completely. So "rest of the world" is probably not true. |
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I never have been a proponent that regulation is a bad thing, in fact I have been wishing it comes earlier because the big investors will come after that. It is the back and forth that I don't like, the media manipulation which I don't like, but then again who is to blame for this manipulation? Yes the media writes these stories, but it takes two to tango. You need somebody on the other end to eat it up, and sadly in crypto most people aren't thinking for themselves and they eat up whatever propaganda is being fed to them, makes me wanna cry  . If we didn't succumb to weak thoughts or feelings, I don't think the markets would be as volatile as they are now. Regulation is bad and is prohibition. centralized markets are prohibiting some countries and some of their people. when you are regulated, you will have to prohibit the same people from using your services. I don't think so. Regulation is certainly doesn't mean prohibition as correctly pointed out by op here. That is the point he is trying to make and it is completely valid. Regulation is a framework provided by an authority/government to regulate an activity, it doesn't prohibit an that activity to occur. On the other hand, prohibition means restricting the same activity to occur. I strongly believe, regulation will actually bring good result to the crypto economy. If we want Cryptocurrency to be adopted by mass, it needs to be regulated. May be directly contradicting the idea of decentralized currency, but it is good for the entire ecosystem. |
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