So like most of us I wish I had had the time to notice bitcoin in its infant stages, I had the technical expertise and IT knowledge to mine when it came out but never knew it existed.
I wish while I did know about it that I had put the $3-600 down to buy one coin even last year. rather than slowly piecing together 1 coin right now.
is anyone in the same boat?
It is not only you but many of us have the same regret. Even I also recognized BTC at an early stage of $500-600 but don't have trust on it. One of my friends asked me to invest $500 at that time but I ignored him saying it as another online scam. We can't go back in time so no benefit in regretting, Instead of that start working hard and try to catch more bounties and campaign so that you can earn more and more BTC. |
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Just wanted to know people ideas on what is the good and baf impact of BTC in the economy of a country. I am glad to hear different people views regarding this matters and get some ideas from the tenured people around these forum.
BTC can definitely make a drastic impact on a country economy. As it can create a whole new parallel economy at the global level. There could be a huge change in the tax collection amount of a country. Some of the other impacts are that it can prevent the situation of recession by creating wealth but on the other hand, it can also be a reason for inflation. |
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Hello!
I am a little unsure here yet, so that's why I am posting it here - I just need some clarification. The main question here is - are coins and tokens the same thing or not?
From what I've read, I understand it like this:
Bitcoin, Ethereum, LTC, monero, dash etc. - cryptocurrency, coins, a medium of exchange, digital money
Tokens - they are based on Ethereum blockchain and they are adhering to a certain set of standards called ERC20, examples of those ERC20 tokens would be Gnosis, Golem, Aragon, OmiseGO etc. - all the cryptos that are kinda like derivatives of Ethereum and hence they are called tokens.
Now, these tokens, they are not used as a digital money like BTC or ETH, instead they have their own other purpose as a medium of exchange - for example Aragon is used to manage organizations and companies, and Augur is related to prediction markets, Civic is a tool for identity verification based on blockchain. So, these tokens are not exactly money, they are different tools for different purposes based on the blockchain technology. They have the price (the value) though.
Do I get the concept right here? If I am mistaken anywhere, please feel free to correct me and help me to come closer to understanding.
Bitcoin, Ethereum etc are developed to serve as an alternative to fiat currency. They have their own blockchain and unlike tokens, they are not dependent or associated with others blockchain. ERC20 is Ethereum token standard and is operated on Ethereum blockchain. |
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If you are buying it for trading purpose then no need to transfer it to any of the wallets. Because you need them time to time for the trading purpose and it takes a lot of time and fees to transfer your coins from wallets to exchange which is not at all convenient. If you are buying it for the long-term view then don't keep it in the exchange. If the coins are ERC20 wallet then keep it in myether wallet otherwise keep i their respective wallets.
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BTC became more popular as an investment tool than a currency nowadays. It can be considered as an asset but the best part is unlike other assets like real estate or gold, it is comparatively easy to sell.
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We have been experiencing lots of up n down , contradictions on bitcoin scaling solution .. even Dev teams are not united , forget about miners, in addition big whales hv their own gang and their positions on fork , or pre/post fork ..
do you think Bitcoin is victim of bad politics or became a political coin .. ?
Due to decentralization, nobody can fully control the BTC, but BIG fishes of the pond always try to manipulate and control the things. This also implies to BTC, developers, Miners, Devs and Big HODLers are trying to manipulate the Btc at their own level. Some says forks are just improvisation and developers are trying to give best and better version of BTc while other say it is Victim of politics and will ruin it completely. |
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BTC got some changes in the world BUT can't say these changes are good or bad. Some scholars say that this change will bring a new revolution in the payment mode and it is the future of payment method while some says especially Govt officials especially bankes believe BTC as a fraud and it will destroy our economy.
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Soon, next month on 25th day(25nov,17), another BTC hard fork is launching which is named as segwit2x. . BTG loses a lot of its price just in 2 days of launch. Many core developers are in favor of Segwit2x so let's see how Segwit2x perform.
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Yes it could happen....If users shifted to some other cryptocurrency which got far better features than BTC.
Or By hacking blockchain but it seems to difficult because the Blockchain hacking at present time is next to impossible.
Or problems in payment occur like replay etc. In such case people stop using it.
And last but not least, all govt. and countries banned the BTC usage and implement strictly on this decision then it.
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There are two types of Drops:
1. Dips: It is due to demand and supply mechanism. Generally, price does not drastically falls or rise because of demand and supply mechanism.
2. Crash: In such scenario, BTC price drops drastically due to panic selling. It occurs due to some negative announcement, effective news regarding Crypto market etc.
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You lost a lot of precious time in think and taking a decision. Now just stop thinking and invest in BTC as soon as possible. BTC is expected to touch the price level of $ 20K. So you still have the opportunity to triple your money. If you could take more risk and want faster growth then invest in ETH, I feel that it will give a better return as compare to BTC in long term.
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Zebpay and Unocoin are the most famous and known exchanges in INDIA. Use these Exchanges if you want to convert your fiat to BTC or vice-versa.
If you want to exchange BTC to any other altcoin then try BITTREX or BITFINEX.
I personally use all these exchanges and found them quite user-friendly and trustworthy.
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It is a fake site to get the username and passwords of the BITCOINTALK.ORG users so that their account can be hacked. There are a lot of scams going on nowadays. Alike sites are being created to con the investors and user. SO Be aware and conscious while using a site.
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Nobody Know who he is or he even exists or not. Only Satoshi Nakamoto, himself, can unfold this mystery. I don't think there is any person called Satoshi Nakamoto, Developers just created a propaganda, But now everyone is looking for real Satoshi, they can't say it is all lie.
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Banks and Financial institution already starting the war against BTC. A few weeks back, CEO of JP Morgan, Jamie Dimon, called BITCOIN as a fraud. Bankers either does not want to talk about BTC or they always say negative about it. But people all around the world are accepting it as payment and investment mode. Increasing market Cap of Crypto-market has really made banker's quite nervous.
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Many people are expecting to cross the $20k by 2020 with the market cap of about $180-200 Billion. After seeing the growth of BTC in last few year, a lot of people now started believing it and want to invest in it. As the supply is limited and can't be increased so if demand rises vigorously, Price will definitely be going to shoot up like anything.
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It is surely a New Era of making transaction that connects the whole globe. With development new technology, transactions also need to get digital. And there is no question of BITCOIN being scam, as it is not owned or ruled by any individual or company. It is totally decentralized and everybody have equal control on it.
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If you have a long-term vision, then buy as much BTC as you can. There is no right time to buy it, Keep investing at regular intervals to have a great return. But if you are short-term investors then keep a keen eye on BTC movement, try to buy at dips. Don't invest all your money at a time, try to average the price so that you have best purchase rate.
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The Pacific island nation of Vanuatu has become the world’s first county to accept the virtual currency bitcoin for its citizenship program. The Vanuatu Information Centre (VIC) announced that its Development Support Program (DSP) will allow foreigners to qualify for Vanuatuan citizenship through a one-time payment of $200,000 or currently 44 Bitcoins. Vanuatu is a member of the Commonwealth of Nations and citizenship allows visa-free travel to 113 countries, including EU states, Russia and the United Kingdom.
Vanuatu also advertises its low taxes for citizenship buyers, offering a second passport in a country that levies no capital gains or income taxes. Potential citizens don't need to live in Vanuatu, or even visit the country once.
“Many early investors in bitcoin would like to realize some of their earnings without incurring large capital gains taxes. Ideally, then, they would convert their cryptocurrency into tangible assets in a low-tax jurisdiction… As Vanuatu will now be the only country to offer citizenship for bitcoins, I think the program will see a surge in interest more or less immediately.” http://www.newsweek.com/bitcoin-now-buys-you-citizenship-pacific-nation-vanuatu-680443This is really a nice news that a nation, although small, recognize and accept the BTC payment to give citizenship. It will at least create a news at global level and other small countries will also be encouraged to take positive steps towards acceptance of BTC as legal payment. |
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