Just two days back, it was only around 6.5k unconfirmed transactions. I transferred around 250 USD to one of my trading accounts and I paid only 20 sat/byte fees that was recommended by the wallet service provider. I have just checked the fees now, it has become 30 sat/ byte due to the network congestion. I found a nice resource which everyone can use before sending a transaction to determine the fees and avoid such situation. https://bitcoinfees.earn.comHope this helps! |
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Ive read an article about Bill Gates saying that cryptocurrencies kills people. He explained that crypto provokes people to hide thier financial transactions from the government, and revolutionizing terrorism, financial crime etc. Some people use crypto to buy drugs, bombs, guns that are use for drug dealing and terrorism that kills people 'in a fairly direct way' I think Gates is somehow right about this. But i think it depends on the people who are using cryptocurrency, if they will use it in a good way or in a bad way. What do you think? Link: https://www.google.com.ph/search?source=hp&ei=MJaWWv70CoH-8QXDvLO4Bg&q=cryptocurrency#scso=uid_PpaWWoLdHISa0gTusbDYDg_9:117These kind of dirty business was running pretty much in the same way when crypto was not even in existence. After crypto came into existence, it just provided a different method to finance such things. The span and scope of such businesses didn't change, just expanded the payment method. So it surely depends on the people who are using cryptos. These kind of dirty business will go on. Even if crypto got banned, they will continue the business with fiat. Nothing will change. So it is not correct to term it as "Cryptocurrency kills people", it is a very negative term and not theoretically right. If this is the case, then it is also right to say that " fiat kills people", which is actually not. We need to change the way we look to cryptos. |
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A lot more such comments will keep coming during this year. Jamie has already made it clear that they are seeing bitcoin and other crypto currencies as a threat to their business in 2017. They have called it fraud and bubble and many other negative things. After his first public address about bitcoin, he even managed to bring the price down up to 35%. But that didn't last long. After that, Jamie released such negative statements many times, but market never reacted. I am sure, nothing will happen this time as well regardless of what he says officially or unofficially. Crypto community learnt to ignore his foul thoughts.
So a "lol" is an appropriate reaction to this statement of JPM chief Jamie.
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Bitcoin is a foretaste of the kind of future we will be having. It has many advantages and positive features which the people are clamoring for especially after the economic near-collapse in 2008-2009. We need a better financial system away from the controlling interest of the greedy and corrupt traditional monetary platform we have right now. However, the road to this better financial system is not an easy one...can be just as bumpy as hell in fact. Change is not something that will happen overnight...it has to be fought and there will be casualties along the way (which can make things and people go sour).
Bitcoin and the technology behind it (the blockchain) since just another man-made is not perfect and nothing will be... but it has the features that can minimize the pull of human nature. Things are hinging on how we the people would appreciate Bitcoin and how we can use it for good and not just another tool for our greedy and corrupt human nature. Right now, we are always experiencing volatility all because of over speculation (partly cased by our desire for more or greed). I agree to your point. A better financial system out the controlling interest for greedy institutional investors was a priority after the sub-prime crisis in 2008-09. Crypto currency was initially started as a p2p currency with no one actually control the entire game. But with time, we have seen an influx of similar kind of greedy personalities in the crypto space as well whose who have tried to bring down bitcoin for their own interest. Hard fork is another way of doing the same and we have seen a number of hard forks in 2017 and another one is coming shortly. So we can't say that bitcoin has achieved its primary goal here. Instead of being a de-centralized p2p currency, bitcoin and other cryptos are now considered as an investment asset. So we have already diverted from the main goal. But I believe that shift was decided by the open-market rule. So more people wanted it to become an investment asset instead of changing the face of world economy. But with the increased adoption of crypto currency by the countries, is giving us hope that the chance will happen, slowly but surely. ]We should be hoping that after all the dusts are settled, Bitcoin will not be just another failed experiment...or just another man-made system that fell because we failed to go beyond our shortsighted human weaknesses.
Bitcoin is not a failed experiment for sure. We have seen a lot of resistance from the organized banking system and centralized governments but still it has made its way to some countries with progressive government. Now a time has come, where governments are issuing their own crypto currency backed by the real world asset. So blockchain has not failed. Instead countries are opening up research wings to explore the potential of blockchain technology. So bitcoin is not falling in to the parameter of failed experiment in any way. Instead, I believe, we will see a lot more countries to come forward and adopt bitcoin in their economy. It started with Israel and many more to be added in 2018. Fingers crossed! |
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Do bitcoin Miners Profit more than traders .What do you all think? and also Out of both who can make income out of bitcoin?  Miners and traders are basically the two pillars of bitcoin network. Without any one of then, the bitcoin won't exist. While miners are the producer group and traders are the consumers. While miners ensures the network keeps on running, traders keeps the demand high. So both are equally important for the survival of crypto environment. It is hard to say who earns more because if a miner use high tech equipments and have access to the free electricity, they can earn well without much risk. On the other hand, if a trader jumps in to the market with a substantial amount of initial investment and plays his bet right, he can also outrun the miner income by large scale but with huge risk. Actually such comparison is hard to make because their income depends on many other factors as well. |
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I won't particularly suggest to start an ICO to raise funds because an ICO requires a lot of comply. Also there are a lot of countries who don't support ICO. But if you and your friend already staying in an ICO heaven, then your suggestion makes sense. But why your friend is looking to raise funds? Does he have a product which he needs to float in the market? Or does he have an idea which he wants to convert in to a successful business?
In either case, ICO is a more complex way to raise funds. It comes with a lot of regulatory compliances and potential threat of money laundering. So it is better to approach vc investors with a proper project plan and try your luck. If he already owns a product, it would be the preferred route to take instead of floating an ICO.
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I don't trade Bitcoin but I want to buy some to invest altcoin . I missed opportunity at 6k because I waited for 4k .
Do you thing Bitcoin still in large downtrend ? 4k is possible ? Anyone with a good skill of forecast can help me compose my mind please. Thank you.
You will never get an actual picture of bitcoin's price trend from the comments of the community members unless you start tracking the bitcoin price closely. All members will have different opinions and since it is a bitcoin related forum, you will mostly see optimistic people around who believes bitcoin will go up at any point of time. Which is a good thing for the community but doesn't necessarily provides the right information. Also, bitcoin's price trend doesn't always follow the technical analysis. It is a raw reflection of public sentiment. The only way to determine the price trend is to closely follow and track it and use your own intuition before investing. Generally, if you are looking at a long term opportunity, I would encourage you to go ahead with the current price as it possess significant future potential. |
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I have recently written an article about the possibility of Bitcoin becoming currency we will use on daily basis. so now I want to ask the question do you think we will see if it can be used as a daily currency??? or do you think it will be more like gold a good store of value??? My own personal hope is that we will see cryptocurrencies develop into currencies we will use on a daily basis. in my opinion, bitcoin will be a good place to start due to the mainstream knowledge about Bitcoin, but I do not think it's the best-suited kind for daily use and I believe we have a long way to go before it is a viable alternative to Fiat currencies for the majority of people. For inspirational purposes, I have included my article https://cryptoms.online/2018/02/27/will-bitcoin-become-a-daliy-currency/It's good to know that you are really optimistic about the mainstream use of Cryptocurrency. But personally I don't see cryptos being used as a currency due to its decentralized nature. We live in a strictly centralized world where, if a stock price is moved more than 10% within 15 minutes, the trade of that stock gets suspended by the stock market for half an hour. We call it circuit. I don't know about any other countries, but it happens in India. But 10% price movement is a normal thing in Cryptocurrency market within an hour. So you can imagine the difference. Bitcoin looks good as a store of value but not as a daily currency in any way. Eventually all countries will have to adopt bitcoin but that certainly doesn't mean that it will replace fiat. |
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Israeli court has ordered such temporary injunction because Israel government legalized crypto business in their soil and imposed taxes on it. So they are essentially eyeing the tax income that can be generated from crypto market. That is the reason why the crypto business is getting government and counrt support. I doubt it will be the same in any other countries where crypto business in not yet legalized. Probably Japan can do the same because crypto currency is legal in Japan. But this will not be the same case in any other Asian/European countries where bitcoin's legal status is still unclear. But it is indeed a major victory for the crypto community as a whole, because of the nature of the case. While Banks have declared war against bitcoin and other crypto currencies because they think it is a major threat to their business. This kind of example can be used as an example to the world economic bodies. Even though we can't expect the same to happen in any other countries just as now, but it is a starting point indeed. |
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That's a very crucial question. How on earth can bitcoin have a value which is not even tangible? That is the reason why conventional investors like Warren Buffet always spoke negatively about bitcoin. Because they failed to understand this very concept. Bitcoin is seen a bubble to many investors since its inception. So let me explain how an intangible thing can have a value and it can even grow stronger.
In our life, we all have known about a human value, Trust! We can't see trust, it is just a psychological/emotional quotient. But in our daily life, this particular psychological quotient plays a big role in our decision making. Lets take an example of general stores. There may be several general stores in your area, but most of the people have a preferred one. Because these people trust that particular general store owner will not cheat on the quality and quantity and will deliver your goods on the right time. You probably won't go to any other store unless there is an emergency or if the preferred one is not available. So you can see how trust is affecting your purchase decisions. Same thing is happening with bitcoin and crypto currency market as well.
Crypto currency is backed up by public trust. Because people around the world believe that blockchain technology can bring huge change in our daily lives and as a pioneer of blockchain technology, bitcoin will become huge in near future. So they are ready to pay a price for that. This is how bitcoin is seeing a value far more superior than any other crypto currency. A thing that doesn't exist in real-world and represents just a number in your wallet, still have a value and people around the world are ready to buy it as per the market price. This is how bitcoin exists and thrives.
There are definitely other factors as well. But this is the basic factor on which bitcoin exists. Many see it as a bubble and they usually stay out of this market, but others see it as an asset so they buy as their pocket permits because they see it as a value representation/store of value. Hope this helps!
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i have observed that now bitcoins arrogance causes its price drop
as soon as bitcoin looks too expensive, people start seeing bitcoin as some sort of arrogant cryptosect,
and the price drops, as will its popularity,
as soon as 12 000 USD are beeing reched again and people start speculating a price explosion again, bitcoin looks again arrogant for many and people will drop it
someone else expects the same?
regards
How would the price and speculation around it, can be termed as arrogance? Bitcoin is the pioneer in Cryptocurrency and that's why it is immensely popular around the world. And the price fluctuation you are talking about is purely the nature of any speculative currency. Majority of the Cryptocurrency is priced as per the market demand and speculators play around the price to gain profit. Terming it as arrogance is probably your sheer ignorance about the market or wrong conceptualization. In either way, it makes no sense. |
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I believe, Hagan Homes is probably the first builder that is accepting bitcoin as a payment method. I haven't seen any other news of any other builder accepting the same. Even though there were instances where someone bought a real estate property using their crypto income, but they had exchanged their crypto to fiat and then used it for the purchase. Crypto transfer to builder's account didn't take place.
Even though there would be no impact in the market, but this baby step by Hagan Homes has opened up a whole new opportunity in front of the market. Buying home is a big thing, so a majority of the buyer would not want to involve crypto in it if the legal status of crypto is unclear in that country. But if this builder can execute a sale properly with all legal clearances, then it would definitely give out a positive message to the crypto community.
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So I have been thinking about this for some time now, we saw a huge wave of new adopters last year, mainly private people buying through say Coinbase, Bitfinex and Bitstamp. We also saw an increase in demand from South Korea and Japan.
So the question is, what is the next phase in the adoption curve?
Some speculate that we'll see ETFs being approved and thus allow pension funds and major institutional money to flow into Bitcoin, others say we'll see governments buying into Bitcoin triggering a financial arms race.
It is really hard to say when the next adoption cycle would begin as it depends on many factors and not only on the price. Last year in December, we have seen a lot of people investing in bitcoin because mainstream media was showing interest in it. The exponential growth in bitcoin's price caught attention of mainstream media houses and they started making stories on bitcoin. So that was the reason a lot of private investors flooded the market from all over the world. Now who had invested that time at the peak price, they all are seeing heavy losses on their Cryptocurrency account. So it is really hard to say when the market will see another influx of new investors. Probably when few more countries will legalize bitcoin, then we will see such incident happening. |
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They have already "banned" bitcoin like 10 times past 4 years without success. This is nothing new, they ban everything that is great about the internet.
They have never banned Bitcoin outright. This seems to be a common misconception. They have banned ICOs, exchanges, P2P exchanges (that served as a loophole for the initial ban), and they're currently sitting the fence on mining. Holding and trading are still fair game, but who knows how long that will last. Either way, China is no longer the giant it once was in trading volume, and the remaining traders have already learned how to sidestep regulations. An outright ban at this point shouldn't be too crippling in the short term, FUD aside. Right you are! China has never banned bitcoin outright. Because that can't be possible for them. So they have taken a phased approach. First they banned ICOs because that was a channel of dirty money flowing in to their economy. I have seen a lot of Chinese scammers active in the ICO market prior to China ban so it was a good news for the entire crypto community. Now China is trying to ban the mining operations because a communist country doesn't believe in people empowerment by sidetracking them. They follow heavily centralized policies. Crypto is one way that can't be properly tracked and taxed because of its pseudo anonymous nature. So the Chinese government are not getting the proper revenue from these crypto related market. So they are trying to curb it down. But China is not anymore the superpower of crypto market. If China ban all crypto related activities outright, the market will react for a short span. But I don't think any big impact will be seen for China's exit. Also the Chinese government knows that it is impossible to control the entire crypto market in China. So those who want to use it, they will continue using it. Absolute ban can't be achieved practically. |
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Your argument doesn't confirm or prove that all exchanges are owned by government. Or NSA created this bitcoin. Nothing is proved at all. Coinbase is just doing what they are asked to do by IRS. They are just complying with the government's requirement of data. As a good citizen, I feel obliged to pay my taxes and if I don't, that's a wrongdoing on my account. Now Coinbase only have three options to follow. Either they comply with IRS requirement or they just pull the plug or they will move to a bitcoin friendly country like Japan or Israel. If they don't comply with the IRS requirement, they simply will be barred from doing business in USA, all their properties will be seized and court proceedings will be ordered. I remember, the same happening with Liberty Reserve. It was a paypal type system much before crypto currency rose in to prominence. This payment processor was very much active in the worldwide ponzi market. IRS simply came in and froze their entire business because they were unable to comply with their requirement. Now if you visit their website, you will see the below,  Definitely it is against the main vision of the crypto currencies. But in real world, de-centralization is hard to happen. We should look at it as a new way to earn money and as an investment asset. Slowly all countries will move to legalizing bitcoin, but that means, their citizens will be forced to comply with the KYC requirement and pay taxes on it. That's sad but that's what is imminent. |
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I've been lurking in a tax haven recently - Alderney. Here there's no capital gains, no inheritance tax, no vat, and income tax is 20%. It's been fun for a few days. Beyond that I would go batty. Flights constantly get cancelled, everyone drinks like fuck as there's nothing else to do and you'd probably scratch your bum and someone at the other end of the island would ask whether it cured the itch the next day.
In the UK I would get taxed at 20% if I sold all. That's a fair chunk but more than bearable considering most tax havens are ghastly so it wouldn't be an option for me.
Ive seen some startlingly elaborate arrangements on here. For the sake of some extra money you'll never spend it doesn't seem anywhere near worth it to me.
How far would you disrupt your life to save some tax?
Moving to a tax heaven actually depends on many other factors instead of tax percentage solely. The quality of life in those tax heavens are also needs to be considered. IF North Korea makes their country tax free? Would you move there? The answer will be NO for most of us. So Tax percentage is not the only deciding factor here. So if someone likes to live a lazy life with trillions in bank, they may consider moving to Alderney. Personally I won't. Your question states cryptos worth trillions. So if I already have a trillion dollar valued crypto, I would certainly not move to a different country, instead I will stay in my own country where I have at least some local and political connection. In my country, I will be taxed at 30% rate as it is the highest rate of tax, which is significant. But I believe to make money from money. I will diversify my presence in real-life assets and business. Probably I will start two-three new real-world businesses and start living an active life. For me it doesn't make sense to flee to a different country just to save few percentage of taxes. It's great to be with family and friends. |
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I am not sure about what utility and security token does, because all tokens running in the market, have only one goal. They just want to raise fund for their business. While 20% of them having a legal and real-world business, rest 80% are scam. So it really doesn't matter whether a token is utility or security, what matters most is the value of the token. Just to give an example,
I was attached with Trade token and Ethergreen token as a bounty participant. At the initial phase, both tokens looked professional, but at today's date, trade token is big and selling at $0.30 per token while ethergreen ran away with investor's money. Their website is not live as well. So I believe, security or utility doesn't matter. What matters is the intention to make a great business from the funding they have received.
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