It's a saver of a country that's economy is collapsing, especially the hyper inflation, like venezuela where we know some of the people their are relying on bitcoin to save their money from hyper inflation. It could be the same with other country and those who think that the future economy could collapse, they can bet on bitcoin now.
Apparently only the top 1% in venezuela understand and use bitcoin. Most Venezuelans are trying to get their hands on dollars and have more faith in the dollar. I think this is because bitcoin has lost so much of it's value since Dec 2017. Imagine if you were a venezuelan who bought bitcoin at the top - it would be like a tragedy on top of everything else that has gone wrong for them. |
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If Russia bought Bitcoins for 10 billion dollars, there would be a sharp jump in prices in the cryptocurrency market. However, if they buy there periodically and in small batches, this may explain the slow and steady rise of the market in recent times. The Russian government does not want to admit that it is significantly affected by international sanctions, and it is likely that the acquisition of bitcoins will occur in secret. However, it will be very useful for the cryptocurrency market.
Remember that if they bought, they'd buy over-the-counter direct from a miner, instead of using exchanges. So they'd likely not move the price much. |
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There is still a large demand for fiat to crypto exchange that is why centralized exchanges still dominate crypto space.
There is also a lack of knowledge in using dex exchanges. Another one is trusting your keys to dex exchanges. There is fear since you are submitting your keys to dex, your funds can be easily stolen.
Spot on. It's because people want fiat. If people were purely trading coins, and then spending coins, there wouldn't be any need for fiat at all, and hence no need for a centralised exchange. But the crypto commerce space hasn't developed, so the only way to cash out and pay bills is using a centralised exchange. |
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Binance operates its licence in Malta. So why should that affect it? With its innovation and security, I don't think Wright's whining will do it any harm. BTW, if push comes to shove the American customers might be asked to withdraw their patronage and that won't shake the exchange an inch. Binance is a strong viable exchange. I don't have any worries about them.
You are underestimating the power of the US. They caught the CEO of btc-e.com in Greece and shut down btc-e.com. USA basically owns every .com domain out there. If you commit a crime while using a .com domain they can find and jail you no matter where you live. Binance uses a .com domain. If they find out something fishy about them, USA can indeed shut binance down. Binance doesn't trade fiat currencies, does it? The UK can only close you down if you are trading dollars. Btc-e for example was an unlicenced exchange using dollars. |
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I've heard about Yelp, but till this article I wasn't even sure what it was.
In the olden days (pre internet) it used to be known as Yellow Pages - a big thick yellow directory that listed every single business in your area, and had a lot of adverts in there for the businesses. You had a unique directory for every city and town and they used to post a copy through every single household. Once the internet got started, they tried to go online as Yelp. But after a few years, google lowered their search ranking to make it harder to find Yelp and easier for Google to have it's own local listings at the top of the page. I think this crypto filter is a good idea for Yelp to fight back, as it is hard to find businesses that accept bitcoin on google. |
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It looks like businesses are beginning to pay taxes with crypto too: https://cointelegraph.com/news/us-retail-giant-overstock-to-use-bitcoin-to-pay-its-taxes-in-ohioUnited States retailer Overstock.com has announced it will pay part of its business taxes in the state of Ohio using Bitcoin (BTC), according to an announcement on its website Jan. 3.
Overstock will cover commercial activity taxes (CAT) with Bitcoin starting February, using the recently launched cryptocurrency taxpayer platform, OhioCrypto.com.
The company’s CEO and founder Patrick Byrne — a longtime crypto enthusiast — said in the announcement that governmental adoption of cryptocurrencies and other emerging technologies, accompanied by friendly legislation, is "the best way to ensure the U.S. does not lose our place at the forefront of the ever-advancing global economy."
As Cointelegraph previously reported, Ohio became the first U.S. state to accept Bitcoin as a payment method for taxes in November. The service is currently available only for businesses, with reported plans to extend the option to individual filers in future. This is something to watch, because if it works for Ohio, other states will copy them. |
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https://www.ft.com/content/fb814562-4c8f-11e9-8b7f-d49067e0f50dBitmain Technologies’ application for a blockbuster initial public offering has lapsed, after the fall in the price of bitcoin spoiled the fortunes of the provider of equipment for cryptocurrency mining.
Bitmain filed to list its shares in Hong Kong in September, setting the stage for what was expected to be world’s largest cryptocurrency IPO. The Beijing-based company, which makes and sells kit for cryptocurrency mining, had been planning to raise up to $3bn in the listing, according to bankers.
Bitmain’s prospectus detailed three years of phenomenal growth, with revenues surging ninefold, to $2.84bn, in the six months to the end of June 2018. But the plunge in the price of bitcoin — which is currently trading at less than one-quarter of the value of its December 2017 peak — has spooked investors. Bitcoin’s current price makes mining it virtually unprofitable.
A discrepancy between the numbers Bitmain showed private investors and those in the prospectus sparked further concerns.
Bitmain’s woes have been compounded by its own cryptocurrency holdings: in addition to selling mining kit, the company has significant cryptocurrency holdings, including bitcoin and ethereum, which is currently trading at about one-sixth of the levels seen in May 2018.
I did some digging about this discrepancy and found the following: https://www.ft.com/content/e82fb9e0-d3a8-11e8-a9f2-7574db66bcd5In its IPO prospectus, Bitmain stated 2017 net profits as $701.4m. In documents published ahead of a $422m pre-IPO funding round, just one month earlier, Bitmain said that year’s net profits were $1.1bn. It looks like they were overstating profits to their venture capitalists, but dared not do the same to the Hong Kong Stock exchange. Which made people wonder about the whole operation.
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Let me correct the author. Innisfil, Ontario is not a city in Canada but a municipality. This is the first municipality which belongs Northern American Nation to accepts bitcoin in paying taxes. But this is not the first time I heard of it. There was an area in Switzerland which is the first in the world to accept bitcoin to pay taxes and it was followed I guess by Ohio (first US state to accept bitcoin to pay taxes).
But seeing 3 areas in 3 big countries that has government allowing bitcoin to be paid as a form of payment for taxes is a big news. It is another huge progress for the bitcoin and the whole cryptocurrency community.
Does anyone know how many people are actually using crypto to pay taxes in these three areas? Or has the project been a big fat flop? |
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I saw in my social media feeds that there's a lot of people now posting about free cryptocurrency that needed of kyc before you get a penny money. This people not think if it's will good to them to give their identity in any site for just penny money. Yeah it's free but your identity will be possible to use in any harmful doings.
Whats your thoughts about this?
They're basically data mining and will then sell your data, or use it in a way that harms you. Don't give out personal information online. Especially in connection to cryptocurrency. |
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Do a lot of people still use Yelp? I though that they were slowly but surely losing a lot of customers, especially compared to previous years where they were the top review website.
I've personally never used it & stick with Tripadvisor instead. Don't think that Yelp ever caught on in my country, maybe even Europe in general.
Their online offering suffered when Google lowered their search ranking, in order that people should use google to find things rather than Yelp, along with moving advertising to google. I think this initiative is much like Overstock's back in the day. Try to find new customers that Google is ignoring. It's not easy to find merchants that accept crypto on Google - so perhaps going to Yelp and using their filter will become a thing in this community. |
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https://www.ccn.com/yelp-bitcoin-filter-crypto-adoptionAs bitcoin’s price experienced a surge this week, it seems merchants and consumers are more interested in crypto than ever.
Local-search company Yelp has joined the pact by reportedly adding a filter to help users find merchants that accept cryptocurrency. No matter if you’re looking for a burger bar, dog groomer, or any other kind of business listed on its site, you can now zero in on those that let you pay with crypto.
Yelp’s move is reflective of a larger move that the crypto space has craved – mass adoption. Whether merchants are rolling out ways to draw in customers or demand to pay with crypto is on the rise, this is clearly a good sign. As always with these initiatives, if people don't use them (or don't use the merchants listed as accepting crypto), they'll disappear.
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How many people on this thread actually use bitcoin, as opposed to just speculating with it?
Very few. Steam closed it's bitcoin option partly because of the fees and delays back in Dec 2017 and partly because very few people were using it as a payment method. If you don't use it, you lose it.
Lots of the infrastructure that was painstakingly built in the 2013-2015 period has been dismantled because no-one uses it, they just speculate and gamble.
So, the solution is to get this community to use it first so that commercial use of bitcoin is viable, before we try to persuade the general public.
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I don't understand item #2. Do you mean, using a broker in your trading activities? You don't need your own broker when you trade in exchanges. Since you really don't know the people doing the trading, and that's given already, you should know when to get in and when to get out. If you are trapped in a pump and dump schemes and getting in the wrong time, you will be a bag holder of useless coins. You need to understand the coin before plunging into the unknown.
I think he means losing money on localbitcoins as well as on exchanges. When you think of the number of exchanges that have been hacked, usually by an insider, it's shocking. MtGox, Cryptsy, Mintpal, BTC-E, Binance, those two Japanese exchanges, and so on. Back in the early days when lots of trades took place on this forum between trusted members (trading based on personal reputation and feedback), it was actually safer. Trusting an exchange is a complete leap of faith as most of us do not know all the employees and lots of shady stuff goes down behind closed doors. |
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Why is it - that people are so ready to buy AFTER it pumps 50X - And then cry or call BTC a scam after they lost their ass?
But won't touch BTC once it stabilizes after a collapse?
Please Share you Stupid Bitcoin Trader Stories if you have em
They're basically controlled by fear. When bitcoin's price was $300, your brother-in-law feared the price would go to $0. Hardly anyone knew about bitcoin at the time, it was confined to a few libertarians and tech enthusiasts. From his point of view it was perfectly rational to assume that it was a fad that would fizzle out. When bitcoin was $15,000, he feared he would miss out if he didn't get in right then. After all it was moving up fast, every newspaper was talking about it, it seemed like it might take over just like the internet. This is how most of the public approach things. They don't look at the fundamentals. They can't see pumps and dumps, they can't tell whether something might have real traction or whether it is a fad. They can't tell real adoption from pumps. Investing is hard, which is why so few succeed at it. It requires a rare psychology and nerves of steel. |
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I wonder what made them change their minds? Was it the advertising going to Facebook instead? |
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Like your country we do have our own 3rd party. Philippines has more than one but the popular is the coins.ph, they do have options to send the cash to you bank account or money transfer services. They even allow us to withdraw cardless transaction on ATMs. This company made it very convenient for us.
This one. Coins.ph really did a good job converting our Bitcoin to PHP and it's really convenient because there are lots of methods to use. You can even deposit it to your bank account. But if you don't have a bank account, you can simply exchange it using any remittance center here in the country. Of course there are fees involved, but they didn't charge that big, we are just lucky having this kind of services in the Philippines. What is Coins.ph's market share in the remittence market? And are they still using bitcoin or have they switched to other coins to save on fees? |
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The irony here is that Venezuela repatriated gold during Chávez (not all as you might guess), but that gold that cost a fortune to move back from foreign banks, and was kept at great expense in our national bank, is simply being sold by Maduro. They already sold a lot to the Russians. He of course has no authorization from the legislative branch, but de-facto power means they can do whatever they want and that is that.
If anything, the UK has at least kept some of the gold safe from the usurper thief. Once things normalize and the usurper is gone, that might be our last gold reserve left.
It is a double edge sword. You bring it back to your country thinking it would be "safer" but then you have to fear your corrupt politicians wont take it for themselves...
Oh well, Romania had a Ceaucescu, but we still have a Maduro. You would be surprised to know how many Venezuelans would wish for a similar ending to socialism...
Well said. Part of the reason so many countries voluntarily keep their gold in London is because it is a) safe and b) won't be released without the proper authorisation by the owner's legislative branch. Maduro wanted the gold for his own benefit. Romania has been mired in corruption recently, their existing govt passed laws exempting themselves from being prosecuted for corruption. I expect when the gold heads back to Romania it will disappear. |
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Just like in subject. How do you converting cryptocurrencies into cash? For example in Poland I can convert in so-called bitcoinmat from page shitcoins.club. I don't know how is it in other countries, so please reply. Thanks  You can buy gift cards which you then use to buy groceries and stuff. |
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Hello everyone, Recently I discovered a new blogging platform called Publish0x that rewards you not just for writing content but also for tipping (upvoting / liking) articles. What is different to Steemit is that they do not have their own native token, but use a token that is already listed on CoinMarketCap. I really like the system already. It's easier to use, cleaner and it's only in beta, has anyone used it? Are there any other big fans? If you want to read more about the platform you can click on the link below which explains the tipping system. I think it's a great way to earn some crypto for newbies as well as experienced bloggers. https://www.publish0x.com/look/publish0x-where-writers-and-readers-get-paid-xvmej?a=GELe3POa69Enjoy! I've been using this system now for a month and I have recommended it everyone I know who wants to earn some crypto without taking part in bounties or spending money. I love the system because: - They have multiple tokens to earn, I have already earned more than I have in months of using Steemit simply by liking articles and writing content. - If they keep adding more tokens to the platform you will be able to earn more and more, so far they have two tokens that are already listed on numerous exchanges and are listed on CoinMarketCap. The project is very new and they already ahem two tokens that are valuable. - They don't have to focus on the token price etc and can just focus on the platform and growing the user base and also making it better and better - Easy to use, cleaner and better than steemit. Yes it's a little different to Steemit, because they have their own blockchain and token, but this platform has taken what people want from Steemit and tweaked it allowing you to earn more. I would recommend this platform to anyone. Can you tell us which tokens? |
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We only need to attract people to buy, because as we know that the positive movement of the market is influenced by the number of requests and if the demand decreases that means the market situation will decrease so that it also affects the value of Bitcoin.
Its not enough to attract people to buy if you dont teach them about how bitcoin works because the same way that they buy they will also sell it and this will only do much worse to bitcoin market. If you attract people to buy just for the purpose of increasing the price, that will only lead to having more newbies into crypto seeking just profit and thats never good if we need bitcoin to progress more. People don't need to understand how things work in order to use them. How many people understand how email works (the way the pioneers did back in 1990)? Adoption happened when AOL made a nice user interface that handled all the back-end stuff, and people then started using email in their droves. Once Coinbase and others make it easy to use bitcoin, it will take off. |
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