A very wide variety of views on Bitcoin and Blockchain technology, but you can see there is a lot of confusion and misinformation that are guiding these opinions. Let's not forget that these leaders are being influenced by people <Banking shills> and previous employees of very powerful financial institutions that wants Crypto currencies to fail.  The moment when a leader starts talking about "Blockchain" technology, you know they are being fed some BS by these people. <Why... well these people want their own Blockchain technologies to succeed and they want other Crypto currencies to fail.> |
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Hey guys what do you think ?
Will we have a global currency?
I personally think that the idea of global currency will benefit citizens, there won't be exchange tax and other things , but at the same time it will kill the competency of the countries that the political leaders think is important , there will be no more best to worst currencies , no exchange rates and nothing.
Will it be beneficial?
I think the benefits are more than compensating for the bad effects.
I think this wide variety of currencies do have some advantages
If we will have a global currency will it be internet based?
I don't think it can be internet based because more or so there will always be a sector which doesn't plan on using the money and worse who doesn't know how to use the internet and how do you plan on giving this advantage to the tribal people ? It will be worse , it will be like , if someone wants to kill the economy of the world entirely they just need to shut down the internet and everything, every transaction will stop.
Please share your views ?
A common mistake that people make is to think that governments would care about what people want and what would be better for their citizens. If that was the case, Bitcoin would have been a global reserve currency. Remember one thing, government salaries are paid with taxes and tax income are generated from transactions that are done via foreign exchange services and Bank settlements. They will never allow technologies that would kill their tax cow and governments also know they can manipulate the value of Fiat currencies to balance their economy, so they will never allow a global reserve currency that they cannot manipulate. |
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I know for a fact some Zimbabweans use M-Pesa in their country, because I have done some contract work there a while ago for our company. I do not know if BitPesa <https://bitpesa.co/> is allowed there, if you say all foreign exchange services are blocked? The people will still use the Rand <ZAR> because they can cross the border into South Africa without any restrictions.  A lot of them are using digital Bitcoin exchanges that are not situated inside the borders of Zimbabwe to protect some of their wealth. <They can also use services like Bisq> Bitcoin P2P use cannot be stopped, so the government is pissing into the wind with these restrictions.  |
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I think Microsoft stopped mainstream support of Windows 7 on January 13, 2015, but they know it was a very popular operating system, so they said you'll still be able to use it safely for another five years, but after that they would stop supporting it. So we are very close to the End-of-life for 32-bit Operating Systems. So my thinking is this, if Microsoft stops support for Windows 7 and some exploit is found, then everything running on that platform would be compromised too and Microsoft would just wash their hands, because they stopped supporting it. It would therefore be wise to upgrade to a 64bit OS to protect yourself from bugs in End-of-life products. |
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Today I sent a small amount of USD from my Coinbase account, to my bank account. It says I will not receive those funds for 3 full days. Any other bank in the world would make that transaction almost immediately. Why does Coinbase take their sweet time? That is cruddy. Coinbase treats fiat like it is crypto. I am glad I do not have funds in Coinbase anymore, well, in a few days I won't.
It is standard practice in the Banking sector for inter Bank transfers of Fiat to take up to 48 hours. The Banks combine transactions and reconcile the balance sheet between Banks every other day and it is done via services like for example the "Clearing House Interbank Payments System (CHIPS)" in the USA. It will not be cost effective for them to use these services for every individual transactions, so they combine all the transactions together and then balance the transactions that are combined by other Banks with their Bank and settle the difference. <This is why direct Bitcoin use is much more effective than the Banking system, but when you use services like Coinbase to covert & transfer Fiat, these limitations are once again applied to you.>  << Blame the Banks systems, not Bitcoin>> |
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Facebook's Libra would be very similar to the use of Crypto currencies via services like Coinbase. In both these scenarios you would not be in control of your "token", because the centralized service would dictate how you would be able to use it. <ToS> They will also have full control over the Private keys for those "tokens" and that gives them control over your wealth that is stored on their platform. They can "reverse" transactions on their internal ledger and they can blacklist specific tokens if they wanted to do that. Bitcoin is not meant to work like that and that is the main difference between Libra and Bitcoin use via centralized services. Bitcoin = true financial freedom and protection. |
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As we already know, Trump tweeted that he does not like Bitcoin and this was triggered by the threat that Libra pose for the US Dollar. I personally think his opinion is shortsighted and he is going to throw the baby out with the bath water, when he puts a blanket ban or strict regulations on Bitcoin. He says his campaign is focused on putting America first, but he wants to restrict a technology that brings new innovation and new job opportunities to his country. He is also ignoring the advantages of having a new source of international capital flowing into the USA from Bitcoin tourism and also people buying goods via the internet and paying with Bitcoin at local online merchants. Bitcoin as an investment opportunity has also created a lot of wealth for a lot of people since 2009, because the price of Bitcoin generated massive profits for the clever investor. <Long-term investors> Bitcoin has advantages and disadvantages and simply ignoring the advantages would be a huge mistake. Let's show the Trump administration what the advantages of this technology is, before they make that mistake. Trump never issued any ban on bitcoins his primary aim was to kill Libra, and it seems to me that his plan is working so far. In fact Trump has been smartly promoting bitcoin without saying a word, I’m referring to his decision of appointing an Pro Crypto Sec Commissioner. Bitcoin is never going to be banned in USA it’s only a matter of time before his government can find a way to legalise it. News: https://coingape.com/trump-appoints-sec-commissioner-coinbase-planning-bitcoin-etf/amp/It is already legalized, but not as a Currency. The US see Bitcoin as a Commodity and it is taxed as a Commodity. <Capital Gains> So, the next step for them is to regulate it properly so that it will become illegal to use it as a currency in a unregulated environment. So they will allow the US citizens to use Bitcoin <Crypto currencies> if it is done through centralized and regulated services. <This will grant them the control and oversight that they need> People will still be able to use it illegally in a unregulated environment, but if you get caught, you would face stiff penalties and even some jail time. <Same thing applies to the use of Cannabis in some countries.. They limit the amount that you may have and the places you can use it and also how much of the active "bad" components would be allowed in medicine etc..> |
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I do not have to look into a crystal ball to tell you what is going to happen in the near future with Crypto currency legislation in the USA. The government want to control Crypto currency use and the only way to do that is for them to regulate it and also to make sure that the regulation protects the US economy. So, they will enforce strict KYC/AML requirements on any Crypto currency use and they will put restrictions on Fiat to Crypto conversion and also restrictions on Crypto currencies transfers out of the USA. <This will purely be a paper exercise, because we know people will bypass most of these restrictions.> |
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You know they say even bad publicity is good publicity, well it was also true for Silkroad. While the Silkroad debacle was "Clickbait" for the media, it also gave Bitcoin some free publicity. People who might not have known about Bitcoin, could have read something about Silkroad and Bitcoin in the media and that might have sparked interest in the technology for other uses. <Legit or illegal> There are also a lot of people who thought that Silkroad was a brilliant idea for drug deals to be made in a safer environment. So instead of going into some back alley and getting robbed, people could order their drugs from home and get it delivered to their doorstep. <I am not saying I agree with them, but it makes sense in a weird way.> |
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The total cash money in the world is approx 6 trilion USD (6*10^12 USD, 6 000 000 000 000 USD). 80% of this money are USD, 10% Euro,
etc
There are countries in this world with almost no money (their people have almost no money). If we divide 6 trillion USD to 6 billion poeple on this planet we obtain 1000 USD for every man and women in this world. That is if every person in this world will have the same amount of money, they would have 1000 USD in their pockets.
We have products (books, clothes, food, medicines, etc), and we can not buy these products because we do not have the money. Bitcoin is a technology at the beginning, it is 10 years old, it has advantages (money sent in 30 minutes everywhere in the world, available to be spent in shops immediately they arrive) and disadvantages (money sent can not be returned if unsatisfied with the product, variable price).
When bitcoin was created the intention was to double the money that every person has in this world. This is not sufficient, but it is something that can make make everyone happier and healthier.
Where does it state in the Bitcoin Whitepaper that the intention of Bitcoin was to double the money that every person has in this world? I strongly disagree with this, because the Whitepaper only state that it is meant to be a alternative P2P payment option. One of the unplanned consequences was that people's money would increase in value, as demand for coins increase and supply of coins decrease. <Not like the US Dollar and Fiat currencies that are actually losing it's value> The other advantage that I did not even touch on is the fact that Bitcoin is generated by the people and not by the government, where Fiat currencies are created by government at tax payers expense. <It is very expensive to print money and to mint coins> |
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I find that the most sMerit is granted to people with new refreshing content on this forum. Most people just take old topics that was discussed to death and they put a new spin on it and then they expect to get sMerit for it. You also get people posting "copy&paste" responses to common threads and simply changing some words to make it look like it is their own opinion. Go look at new threads that got the most sMerit and you will find that most of them are contributing new ideas and new discussions to the forum. My advise would be for people to do proper research on previous threads that has been posted on this forum and to post something new and constructive to get loads of sMerit. People like myself that has been on this forum for years, can easily spot new constructive discussions and I like to award sMerit for those kinds of posts.  Example : https://bitcointalk.org/index.php?topic=2848987.0 |
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The Child Labour (Prohibition and Regulation) Act, 1986 prohibits the employment of children below the age of 14 years in India. Source : https://www.ilo.org/newdelhi/areasofwork/child-labour/legal-framework/WCMS_486746/lang--en/index.htmSo, if these mines are employing 4 to 5 year old children to do these jobs, they are breaking the law and you should highlight this issue and embarrass the Indian government on social media platforms. Blame the Indian government for not taking action against these practices. B.t.w, how is this a Bitcoin related topic? |
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There are loads of people in this community that does not keep quite if a scam is spotted, just look at the Scam accusations child section on this forum to see how active people are trying to identify scams --> https://bitcointalk.org/index.php?board=83.0 There is also external sites that is focused on highlighting fraud and scam sites, like https://badbitcoin.org/ to prevent people from being scammed. This community are using a lot of social media platforms to warn people against possible fraudulent activities and scam sites. |
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I think you are applying "old" names to new concepts. Fracking is the process of injecting liquid at high pressure into subterranean rocks, boreholes, etc. so as to force open existing fissures and extract oil or gas. Source : https://dictionary.cambridge.org/dictionary/english/frackingThe "Quantum computing" issue has been discussed to death on this forum and most people do not see it as a threat, because encryption can be strengthened to make it impossible for Quantum technologies to "crack" the private keys. |
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As we already know, Trump tweeted that he does not like Bitcoin and this was triggered by the threat that Libra pose for the US Dollar. I personally think his opinion is shortsighted and he is going to throw the baby out with the bath water, when he puts a blanket ban or strict regulations on Bitcoin. He says his campaign is focused on putting America first, but he wants to restrict a technology that brings new innovation and new job opportunities to his country. He is also ignoring the advantages of having a new source of international capital flowing into the USA from Bitcoin tourism and also people buying goods via the internet and paying with Bitcoin at local online merchants. Bitcoin as an investment opportunity has also created a lot of wealth for a lot of people since 2009, because the price of Bitcoin generated massive profits for the clever investor. <Long-term investors> Bitcoin has advantages and disadvantages and simply ignoring the advantages would be a huge mistake. Let's show the Trump administration what the advantages of this technology is, before they make that mistake. |
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I hope everyone is ready for it, because it's going to be the biggest test in your HODLING abilities, and resolve.
What would transpire is the biggest socio-political/socio-psychological attack that the community would ever see, and it would involve state-level actors/governments.
Prepare yourselves. It's coming.
We already had these battles with the governments from many different countries and we are still here. The statements from Trump does not reflect the political view of all the people in the Senate and all the people from the different States. I personally think the Trump administration is just playing political games at the moment, because a lot of the people close to Trump was Bitcoin supporters prior to the elections. <They are just apposing the direction that Facebook is taking with the introduction of the Libra now.> We fought this battle with the US government a few years ago, before Bitcoin was defined and then the US decided to define Bitcoin and Crypto currencies as a Commodity and not as a currency. |
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I really hoped we could get some free tickets with reward points as well, that would have been amazing. Right now, we can get more lottery tickets with our reward points (or at least more lottery tickets per roll) and if we could have gotten that type of deal with but for lambo that would have been awesome.
I am not saying but lambo tickets directly with reward points but you could find some indirect help, like for example spend reward points to drop the wagered amount type of deal, that way people would wager less but would get same tickets and would be spending the reward points for something. I know that would make things a lot less popular for you but in the end it is still a way to get customers keep grinding and maybe even help you get more wagered numbers thanks to it.
If they are going to offer what you've suggested, the House Edge gonna be pumped higher. For the Lambo i think it's fair, i.e: paying for a Lambo at 10,000 USD / BTC (20BTC total) is different than paying it at 3000 USD / BTC (66.66 BTC total), right now I think that the admin there would praise for BTC price to be pumped as high as possible at the time of Prize being paid out, specificically: Case -- BTC Price at payout -- Total BTC amount 2017 ATH: 20,000USD / 1BTC -- 10BTC (200,000 USD lambo) -- the more it rise, the less they pay in term of BTC. Current: 11,000 USD / 1BTC -- 18.18BTC Worst: 3,000 USD / 1BTC --- 66.66BTC Above cases might already considered in their due diligence plan before commencing the contest, thus current model on rate/ratio of getting 1 ticket is fixed, unless within this quarter BTC price surpass 20k and on it way to another new ATH then they might push a hand in helping people FOMO in by lowering ticket price (imaging paying for that lambo at 40,000 USD per BTC). For the wagered amount i am not sure if you are meant to wagering bonus (50x claimed amount or, 25x initial claimed bonus account balance), i would say it's easy to get that amount by claiming many times a small amount rather than claiming all at once. Yea, I have always wondered if the terms of conditions would change if there are a sudden increase or decrease in the price. Will Freebitco.in take the loss if the price plummets with 80% or more of it's current value or would they offer more than one Lambo if the price goes to the Moon.  The success of this lucky draw will also be based on the performance of the Bitcoin price. Let's hope Trump comes to his senses before the draw is done, so that the Bitcoin price would skyrocket before the draw is done. |
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Well, the fact that the technology is decentralized and virtually unstoppable is definitely a very soothing thought. We saw how other decentralized technologies like Torrent sites < P2P system>, changed the music and entertainment industry and how unstoppable it was and Bitcoin is based on the same technology. The music and entertainment industry had to adapt and industries and governments will just have to accept that Bitcoin can also not be stopped and that they too, need to adapt. |
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I think the Tweet it self did not have an immediate impact, but the media attention it got just catapulted it into to a whole new level. The media just love negative news and this combined with the statements that Trump made about Facebook's Libra, just triggered a downward spiral in the price. We have to agree that the Facebook announcement about Libra was the catalyst for the last few weeks increase in the price and that negative comments from the US President would most certainly have a negative impact on the price. Let's not kid ourselves and beat around the bush... the US economy is one of the strongest economies in the world and if they start banning Crypto currencies, Bitcoin will definitely feel the impact of that on the price. Luckily not a lot of people in the US agree with Trump's statements. |
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