Cryptocurrency banks doesn't have a future because why you need a bank for your cryptocurrencies when there is already cryptocurrency wallets that are secured for keeping your cryptocurrency. You should just need to invest some of your crypto money into some good cold cryptocurrency wallet so you will have nothing to worry about the safety of your crypto wealth.
Most of the wallets are not user friendly, especially if you need to download the entire blockchain to your computer in order for the wallet to work. I really believe that in order for adoption to proceed, people's main bank accounts need to have an online wallet attached which they can use easily without having to get their brains around sending fees, inputs, number of bytes in the transaction and so on. |
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E*trade is thinking about allowing cryptocurrency trading alongside stock trading: https://www.bloomberg.com/news/articles/2019-04-26/e-trade-is-said-to-be-close-to-launching-cryptocurrency-tradingE*Trade Financial Corp. is getting ready to let customers trade cryptocurrencies on its platform, according to a person familiar with the matter.
The firm will start by adding Bitcoin and Ethereum, and will consider adding other currencies in the future, said the person, who asked to remain anonymous because the matter is private. A spokesman for E*Trade declined to comment. If this happens, it will be huge because it's an existing platform with a lot of customers. So people won't need to sign up to a cryptocurrency exchange they haven't heard of. |
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Overstock (amazon competitor in the US) already accepts bitcoin. But not that many people are using it to pay for stuff.
Basically adoption happens like this: if a small competitor adopts a new technology and starts to see a huge gain in customers, their larger rival will quickly adopt the same technology in order to grab some of those customers for themselves.
But if the small competitor adopts a new technoloigy and nothing much happens, then the larger rival simply won't bother.
So, if you want amazon to adopt bitcoin, you need to spend bitcoin on overstock, open bazaar and other places that accept bitcoin. It's only when the volume of bitcoin related sales increases substantially, will companies like amazon think about enabling crypto.
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I think that this is one of the things where bitcoin can really make an impact, on a grassroot level.
There are countries previously hit by hyperinflation where its citizens were essentially forced to either barter (which is extremely inefficient), or transact with worn and torn dollar bills that are incredibly hard to obtain and were often illegal. Just look at Zimbabwe, and Venezuela in recent memory.
BTC not only can be used as a store of value in these times when a fiat currencies have collapsed, it can also function as a currency, which is something that gold and silver can do but doesn't do as well as bitcoin given its inconveniences.
In both Zimbabwe and Venezuela, it was the wealthy who used bitcoin (they had access to smart phones, the internet, and a reliable power generator attached to their homes). The poor use dollar bills, because you don't need any tech to use them. Zimbabwe even legalised the use of dollars, euros and pounds because they reckoned that allowing people to use them stabalised the country. |
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- Don't put your seed phrase on online backup. I lost some funds putting a screenshot in a Dropbox account. There are bots that scan .txt for seed phrases. Use physical media there are good metallic cases to use. If you can't avoid making an online backup then use 7ZIP to encrypt a screenshot of your seed phrase(no text) and protect your file with a strong password. That would make harder for bots to discover.
I've been in crypto for a while, so I wasn't expecting to learn something from your post. But I did - the bit about bots scanning txt files. So thanks. |
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The world is moving towards total digitalization and cashless society is becoming more successful because it fast and easy but we should not also forget the place of time it going to take a decade before we can have a full digital society where the traditional paper money transactions will be replaced with newer technology and scan to pay process.
I don't think we will ever become a fully digital society. Things like power outages, hacks of banking systems, cards not working (has happened several times in the UK in the last three years due to software glitches at the banks), the risk that payment systems could be hacked by malicious outsiders - all these things can bring down your economy unless you have a backup system. And that backup system is cash. It works smoothly every time and is not going to go away. |
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How I can profit from them and do problaby money with my location?
Greets
As far as I can tell, the only benefit from being from Zug is that you can pay your taxes in bitcoin. But of course in order to pay tax, you need to have earnings... |
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https://www.reuters.com/article/us-crypto-currencies-genesis/u-s-firm-genesis-says-it-loaned-more-than-1-5-billion-in-cryptocurrency-idUSKCN1S11O3Cryptocurrency dealer Genesis Global Trading said on Thursday it loaned digital assets valued at $1.53 billion to institutional borrowers in the year since it launched its lending business in March 2018, an indication of demand for the emerging lending market for cryptocurrencies.
Institutional borrowers such as hedge funds and other financial firms have used crypto assets to short digital currencies, hedge investments or finance business operations.
Genesis’ total loans reached $425 million in the first quarter, up 15 percent from the end of 2018, the company said.
New York-based Genesis, one of the largest OTC cryptocurrency brokerages, said it had $183 million in active loans at the end of the first quarter denominated in bitcoin, ether, XRP (Ripple coin), bitcoin cash and other coins. If bitcoin's price continues to rise to it's all time high, they're going to make a mint from institutions who are borrowing in order to short.
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Hasn't the federal government said that bitcoin is an asset/commodity and not a currency?
The NY judge should rule that bitcoin is not cash, there is only one currency in the UK, the almighty dollar, and the fees levied for "cash advances" are illegal.
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The timing of negative bitcoin news stories often coincides with a spike in bitcoin's price. Almost as if the mainstream media deliberately publishes stories intended to contain the price of bitcoin and prevent it from gaining momentum. Preventing bitcoin market swings from developing into the skyrocketing asset we witnessed in 2017.
There have been many past stories published about bitfinex and tether without real evidence presented to support alleged claims. There were past news stories about china allegedly planning to ban bitcoin mining in the country which coincided with recent spikes in btc price. If bitcoin's price continues to trend upwards I suspect we could see other attempts made by the media to push bitcoin's value down as so often has seemed to happen in the past few years of bitcoin's history.
I would be interested to know if anyone shares the same impressions I do in regard to bitcoin's value growth often being beaten back and repressed by the mainstream media publishing negative news stories about bitcoin which failed to pan out or materialize. Am I simply imagining things? What do people think.
It's not a conspiracy. If you look at coinmarketcap today, tether is #2 for 24hour trading volume, after bitcoin. So tether likely had something to do with bitcoin's price rise. I just with tether and bitfinex would go away. They're a pox on the cryptocurrency space. |
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No cryto debit card is ever actually handled by a crypto company. They're all operated by third party Visa issuers. The reason there used to be so many is that almost all of them were issued by the same company who glued a different label on each one.
And this is basically the problem with bitcoin debit cards. They plug into the VISA system, when bitcoin was really meant to be a separate payment system. If you want to spend bitcoin, it be better to make an effort to find retailers that accept bitcoin direct. If people start buying things with bitcoin, other retailers will also enable payment by crypto and pretty soon we won't need Visa at all. |
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They feel more secured with something they can hold and see physically. We can't blame them though because if I was in their shoes, then I would feel scared as well. They are just afraid of committing themselves again with something they are not certain of. However, their country is surely doing something about it to get them to trust crypto again. Let's just hope that it'll turn out well as time goes by and hope that crypto will play an essential part of it.
Also, don't forget the power cuts in Venezuela - that would make it hard to use crypto. When a country really goes to pot, paper money, especially US dollars, is the only useful money to have. |
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I wonder why they should wait for three years while the hacker could move it step by step. No matter how long they wait but if they move it in a bunch then it will be easily tracked imho. Just wondering why they did not move it when bitcoin reached its ATH at then end of 2017 as they should have made so huge amount of money.
Immediately after a hack everyone is watching closely, so no point moving the coins. Then after a while people forget and move onto the next thing. The only reason the move was spotted is because someone on reddit had the address on a watch list and three years on, were still in the crypto space and still watching - and caught the move. |
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It was caused by a flash crash on Kraken: https://cryptopotato.com/cheap-btc-bitcoin-suddenly-drops-1000-on-kraken-exchange-in-a-flash-crash/In a flash crash event, bitcoin plummeted in price on Kraken today. Crypto’s largest asset quickly rallied, however, providing one massive lower candle wick for price action.
Bitcoin dove more than $1,000 on Kraken’s crypto exchange on April 25, as seen in the chart below. The price provided a catastrophic wick, from around $5,400, down to $4,357, and subsequently rallied right back up to a normal trading range. The whole whiplash event occurred within five minutes or so, involving a trading volume of more than 1,500 Bitcoin in that period, as can be seen on the following 30-minute candle chart.  |
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First of all you should ask if Bitcoin itself is stable? We already know it is not, Bitcoin itself is very volatile and you don't expect something that is as volatile as that to keep a country's economy stable how's that going to happen?
its not the stability of bitcoin but its usefullness . no matter how volatile bitcoin is , it can still help the country to become stable like for example if one country has problem in financial , bitcoin can help them because bitcoin can provide income and can be used as an alternative currency next to fiats . Bitcoin is unusable at the moment. The mempool already has a 50,000 backlog and just a few people are using it. Entire nations can't use it because it would take days and days for stuff to get confirmed. If crypto is to be adopted by a nation, it will be an alt that can scale, not bitcoin. |
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1. Find a buyer on the Internet and meeting in real life
Pro: no fees, high privacy
Con: you risk getting robbed
2. Sell coins in ATM:
Pro: easy and relatively safe
Con: high fee, usually 5% or even higher
3. Find some service that provide Bitcoin conversion
Pro: relatively safe
Con: high fee, usually 2-5%
ATM fees can be as high as 10%. They are the most expensive way to cash out bitcoin (though they are convenient). |
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https://www.newsbtc.com/2019/04/25/hacked-bitcoin-moves-300-of-bitfinex-users-btc-moves-for-the-first-time/Around 300 of the Bitcoin that were never recovered following a hack of the crypto exchange Bitfinex have moved today. The hack in the summer of 2016 cost the company $73 million at the time.
The coins appear to have been moved to a total of 13 new addresses. It is the first time the coins have ever moved to new wallets, none of which have any previous transaction history. I guess the hackers waited three years hoping that no-one would notice the movement - but with a public ledger people are always watching. This is another reminder to people not to leave coins on exchanges. Practically every single exchange out there has been hacked at some point.
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I've seen a lot of people shilling on twitter about their paid private group in 2017 prior to the bull run. A lot of them fizzled out when the bear market hit last year.
A lot of these groups exist because the leader wants to offload his coins. So the convinces people to buy when he is quietly selling. Once he's done, the group fizzles out. It's one of the oldest tricks in the books, but people still fall for it. |
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Basically, this is the tool to recommend to newcomers when they ask questions about fees. Existing tools are either too complex with too many numbers or have a tendency to overestimate fees.
newcomers MUST NOT use a website to estimate their fees. they must always choose a good wallet and trust that it gives them the best fee suggestions. and what you call complication is a requirement because it is complicated to analyze the memory pool and come up with the appropriate fee estimation. additionally your website is not that accurate either. it also is overestimating the fees. for instance it currently suggest 51 satoshi/vbyte takes 2 hours whereas that price is around the level where you would get a high priority transaction and get confirmed within next block (hence ~10 min) and the suggested 89 for high priority is already way too much. also you seem to be using virtual bytes for size but limit the max to 1 MB (if i understand your tables correctly!) which is false because the maximum block weight is 4 MB. This. The fee depends on how many inputs you are using. If you are trying to send a transaction that is made up of dust, it will be expensive. |
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