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Not on MUFEX but I believe the entire DEX ecosystem works well when it comes to trading crypto pairs. The fees and UI issues will be eventually solved as the time goes by. But DEX can never replace CEX in one things - P2P trading. Not every crypto users are traders. Majority of the crypto users want liquidity so that they can spend. That's where CEX stays mile ahead of DEX and that will never change.
When it comes to transactions involving bank account, people will prefer KYC verified traders every single time.
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I see in this forum that many disagree with the concept of fiat money. But if we look at the price of bitcoin, most people like it when the price of bitcoin goes up. This means bitcoin is inseparable and independent as a currency without considering fiat dollars. At this point, bitcoin is considered an asset That's correct! People here are not against the idea of fiat, but they are against the idea of centralized control. Fiat and bitcoin are inseparable for sure. However, the idea of stablecoin for bitcoin doesn't make sense. Because at the end of the day, it always depends on the fiat unit. Unless bitcoin is directly accepted as a currency in worldwide brick and mortar establishments, a separate stablecoin isn't required. |
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By law anything can be banned or legalized. But will that really change the reality? Probably no! Yes, a certain percentage of the population may change their mind to follow the law, but largely P2P transactions cannot be eradicated.
Also Belarus is a communist country like China and Russia. So these countries are usually quite strict when it comes to financial matters. They can have any law, but that won't change the reality.
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Regulated financial activity and being a legal tender, are two different things. The UK made crypto investment easier and allowed trading. But I don't think people and businesses can use it as legal tender for goods and services. So I am not very sure about the impact it is going to bring on the crypto market. But I think the UK has taken the right step towards the future because the current step surely paves the way for crypto to become a legal tender in the future. The actual positive impact on cryptos will be seen if it is considered as a legal tender which will encourage a whole new userbase to enter the crypto market.
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Now my question in such a situation is when you already have financial freedom. then what are you going to do to enjoy your life and enjoy that financial freedom?
Achieving financial freedom doesn't mean you won't invest your money again. If I am able to attain financial freedom, I will just stop working for others and start working for myself. That's the only major change I will be making in my life and rest all remains the same. Attaining financial freedom should not make anyone addicted with dark sides of life like a lot of celebrities do. It's always good to keep on working till the time your health permits you. |
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Oh no! It's a horrible news when a government body takes interest in holding a decentralised asset. This essentially means moving towards centralisation and that's something we must discourage at any cost. For the same reason I never find any value for the bitcoin network when corporates buy millions worth of bitcoins. This is bad for the market as such kind of hoarding of assets usually gives the corporates or governments the power to control the market at their own will.
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Not really sure about Nigel Farage's bio and business but from a layman's perspective, if someone is forced out of the banking system, Bitcoin is the currency for him to adopt. That's the true beauty of Bitcoin. And hopefully with his political connections, he will be able to convert his bitcoins to fiat if needed.
I feel good because a politician will be forced to test the power of Bitcoin and may become a powerful voice amongst the policymakers to support its growth.
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I have been planning to create this thread for more than three months but today I decided to drop the thread.
When I was a little child, Missionaries like Jehovah Witness Brethren and other Pentecostal Church preachers who was preaching the Holy Bible says, time will come in the whole world that everyone will use ONE CURRENCY and anyone who refused to use that currency can not buy things in any store. And the way BITCOIN is, it is accepting by the whole world. And Bitcoin is growing step by step.
I don't know in the last step of Bitcoin everyone will only use it and no any other currency will exist again. So I like to hear from some Biblical Scholars in the forum to tell me more on this topic. This thing that I said is inside the Holy Bible but I can't recall the scripture but it is in the book of "Revelation".
Lol no! I don't know the religious background of your statement but if you are thinking Bitcoin will be the last currency in the world, you are surely over-thinking. Bitcoin can't be the only currency used in the world. It can neither be the reserve currency of the world. Bitcoin can't handle such huge affairs. The network has a limitation and Bitcoin can play well within the limit of its network. Anything beyond its capacity will destroy the network. If something is used as the last currency of the world, it will be gold and nothing else. |
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So at the New Global Financing Pact in French, president William Ruto of Kenya was afterwards hosted by Macron (France president), Ruto was asking and suggesting for a global financial transaction regime where the procede would be in the care of a new financial organisation different from IMF, World Bank or any other financial institution but a brand new financial architecture of equals where power and governance is not in the hands of few people. I have miss the video but I'm sure the outcome of the submit is in the public space likewise the videos of them.
My question therefore is, with the call of Ruto, do you think IMF and World Bank as the global financial institutions have not performed very well in Africa economy to support in different ways or why do you think he is making that call ?
Well, it's a truth that IMF and World Bank are run by Western countries and they haven't done well for Africa. So it makes complete sense to create a new financial structure to support the nations in Africa. The way China set up a bank called BRICS which offers loans to the BRICS countries, similarly if a financial institution is created to serve the need of Africa, that's a positive. The world needs to come out of western influence. The world has been governed for the benefit of these western countries for far to long and this structure needs to chance to serve humanity in a better way. |
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Doesn't look good, to be honest! The driver's license and passport should be more than enough. In majority of the countries, a passport is considered the highest level of verification because it usually requires police verification before you can become eligible to get a passport. At least that's the case in my country. Also, your background is checked to find out if you ever had any criminal cases against you or not. So Stake should have paid you on that verification. Also it's just 6k, not a million so I really do not get the bill thing they are seeking from you. If you have all documented proof, open a thread here, https://bitcointalk.org/index.php?board=83.0Let someone from Stake admin team reply to you. |
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Forgive my ignorance, I am very new to this space. I saw talks about CBDCs and that drew my attention back to cryptocurrencies. I thought the last bull run would be the last we would have seen of bitcoin ever reaching those heights so I stopped looking at the crypto space ever since. But now we have discussions about dethroning the dollar and CBDCs, I am changing my mind about that, but I still find it fascinating that bitcoin is pumping in this economy right now. I am no means an expert in economics as you can clearly tell, would appreciate if anyone who had the knowledge could shed some light here. Always keen to learn. Thanks
I won't use the word pumping. I would rather say bitcoin price is showing signs of stability. Also I wouldn't say that the world is going into a recession just yet. US could go to recession but that does not mean the world goes into recession. What happens in US, stays in US. The market is actually gearing up for the upcoming halving. It is expected to happen in 2024 and the new supply of bitcoin is going to be reduced. So the price of Bitcoin is expected to increase in near future. The market is just gathering momentum now. This is not pumping. |
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It's a very simple logic we can derive from past events. If a project has a huge percentage of coins pre-mined, the risk of exit scam is proportionately higher. Usually the owner of the coin exits the market as soon as the coin hits an exchange.
Also majority of the alt coins do not have any potential. The owners are here to make money. Only a handful of projects come with an actual vision.
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Another step towards centralized bitcoin economy! Not much cheerful for the market to be honest. Private companies have loads of cash which they can use for their own benefits. The major risk here is that if they are building such a huge mining farm in a country like US which are not really crypto friendly, then the government can take over such a huge mining facility by force if they want to control the network.
I am not really in favor of big corporates when it comes to bitcoin network.
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I personally wouldn't do that! Simply because the price of cryptocurrency is volatile. It has a definite chance to go in any direction at any point of the day. So if I keep my bitcoins as collateral in a pawnshop today, their value could be much higher in the next couple of days or vice versa. So there is an element of uncertainty. For the same reason, I am not much in favor of spending my bitcoins for regular purchases. I always keep the numbers in mind and the data shows that Bitcoin has a huge potential. So I am more in favor of holding it unless some emergency happens. That's my personal opinion though and it won't go well with the Bitcoin puritans for sure.
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So HSBC is giving their customers access to already listed ETFs through their own platform. Nothing to cheer about it really. These are existing products and people already have access to it. When a bank integrates such existing products for their customers, it's usually to earn brokerage.
Unless these ETFs are physical in nature, that's no use for the crypto market either. These kind of things are good to create awareness but not really impactful for the market.
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Hello,
From what I read, someone who sells btc sometimes has trouble receiving the fiats in its bank account. If the sum is large, the bank turns on all its red lights. I guess it's not a problem for someone famous, but for an ordinary citizen, how it happens if he lives modestly, recovers his private keys that he lost 10 years ago and finds himself with millions?
Walk to an offline broker and negotiate a deal with them. Receive a portion in cash and rest in bank. But it is wise to not convert a huge amount of bitcoins at once. If you suddenly receive a huge sum of money in your bank account which doesn't match the previous transaction trend, your bank can freeze the account. So always convert a little amount of money which doesn't raise suspicion. Or do cash trade with offline brokers. |
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Not just government banks, even private banks are inviting people to test digital rupee wallet. I have received calls from my bank for the same but politely declined the invite. However, if you are willing to test and try the wallet. All major private banks have launched their wallet and available in their websites. Here's the link of ICICI Bank, https://www.icicibank.com/personal-banking/online-services/funds-transfer/digital-rupee |
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Back to the title:
- How much do you think it's OK to lose on fees, just as an example, be it 10% of my profit, 1$ for every 5 earned, or 1$ for goods worth 100$, nothing!
Honestly speaking, no fee is acceptable when it comes to accepting payments. In my country, merchants can accept payments for free just by using a service called UPI. After the launch of UPI, both Visa and MasterCard are seeing a huge decline in their card services and transaction volumes. They used to take 2.1% transaction fees plus 18% tax on that fees amount. With UPI, it has become free. So when it comes to accepting payment, I am personally not ready to pay fees because of the available option. The world will slowly move to UPI infrastructure. 8 countries have already been onboarded and Japan is the latest addition. Bitcoin and cryptos can't compete. |
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Since they couldn't suppress Bitcoin, some banks are now endorsing investing in it. I remember seeing that I could buy and sell Bitcoin (and other cryptocurrencies if I remember correctly) straight from my business banking app when I was working on financials in some company a while ago. Now I wonder, do they just want to enter the market and profit off of it or are there some other intentions? Since they offer an exchange for business users, could it be possible that the system could be used so the government could actually tax Bitcoin by taxing the company investing in it trough the bank account?
Maybe I'm overthinking this, but when banks are involved with Bitcoin it always seems like an attempt of gaining some sort of control over it or push it to be more centralized in some way. And seeing more and more of them getting involved doesn't really comfort me.
What do you guys think, should banks even be in 'the game'?
Banks are already in this game! Either in a positive way or in a negative way! They are not staying out of the game. In some countries where Bitcoin is a legal tender or at least has a legal framework available, Banks are automatically added to the game. On the other side, my bank sends me a monthly newsletter email that always mentions Bitcoin in a very negative way, without fail! But we all understand one fact, Banks can't control Bitcoin or the network. They are just trying to get themselves integrated with the ecosystem and earn some brokerage income along the way. I do not see a serious consequence unless these banks are jumping into the Bitcoin market with a backup of trillion dollars. |
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What makes people think that if Bitcoin crash other coins won't follow, it is practical expected event thats is bound to occur any period btc market slides other coins does the same because people has come to love this digital currency of the future that holds somany yet to discovered benefits to humanity, other altcoin are smaller community so they can never be compared with Bitcoin, note BTC no longer advertise itself but it's high demand rate and value does. This commodity (BTC) as I call it, can only crash if the smaller investors in the long run come to know that the growth rate is no longer obtainable as they learnt or were told earlier that it will be before they venture into it. If this events doesn't take place then we should only expect the bullish and bearish market as usual not the total crashing of this coin.
Surely it's a hedge but a bad one! You agree or not, but when Bitcoin drives down, the entire market follows the same trend. So using altcoins as a hedge to Bitcoin is a bad choice which will surely bring financial disaster. If you really want to hedge, buy gold. It will not give you a huge amount of return but it will surely protect your capital. Gold can be a good hedge for the economic downturn as well without any doubt. Look at its historical data. |
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