When I was in college we were taught that the price of any commodity is determined by the factors of demand and Supply to a large extent.
In your understanding, do you think that the price of bitcoin is determined by the factors of demand and supply?
The factors of demand and supply is a fundamental principle that is applicable to virtually everything that have price. However, these are just for basic understanding in other for the teachers not to confuse us at the time. As we go on in knowledge acquisition we then realize the more important one which is Elasticity which to a large extent gives explanation to certain areas that curiosities never stops. For bitcoin, while it still respects the fundamental law of demand and supply but the forces that would drive that goes beyond those things we were thought in elementary school. For one reason, bitcoin was not envisaged when the text were written or re-written and for another reason that bitcoin is not confined to space and number of people that a model can be applied or envisaged the importance of whales or sharks as the case may be. |
|
|
|
The Banks in my country adds VAT to their Banking fees for every transaction you make. So I am not just paying the Banks to use my own money, I am paying the government too for the same transaction.
Yes, some Banks give you a small amount of transactions for free (Depending on the type of account), but once that limit is exceeded, you start to pay Banking fees for every transaction.
So Banks and Governments are making millions on fees that we have to pay, to use our own money!
Is this not one of the reasons why governments wants to stop Bitcoin and also the leverage Banks have over governments, if they lose the VAT on those transactions?
Please share your information on the way that governments and Banks are charging you to use your own money. How much is your VAT on those transactions and if you know that VAT is being paid as part of your fees?
I think its a general practice all over the world and its always mandated by government and its authorities that they charge this fee on the end users. The banks sometimes because of their own capitalist motive of making profit by all means would continue to charge customers ridiculous fees and the moment they do that, they are under the mandate of the law to charge VAT as well. I have to make several requests from the bank and I get charged. To get the hard copy of your statement, to request for ATM cards, making transfers from one account to another, requesting for reference letters, getting a loan approved and payment of management fees, transferring beyond certain limits, you will pay and when you do that, just know you are also paying government its own portion. |
|
|
|
Came across an interesting article looking at gambling altcoins and their value versus the rest of the crypto market and other gambling companies. The conclusion was that gambling alts (like FunFair, Edgeless, etc.) are undervalued given that gambling is a key use case for cryptocurrencies. Of course, FunFair at one point had a $900m+ marketcap (now just $21m). Do you think these coins will bounceback? Will new ones emerge? Or do you think most people betting with crypto will stick with Bitcoin? Here's the article: https://www.cryptogamblingnews.com/crypto-gambling-undervalued/Concluding altcoins would bounce back is going to be a long shots that one would need to be more careful in giving an estimate. At some point the price of BCH was was $1000 but now its just fairly above $100 the same fate befell ETH and other major alt coin without any sign of recovery in sight. If the major alt coins could be hit this hard, I wonder the amount of hope left for the fairly known alt coins that are out there among which is the example you have stated. New coins will continue to emerge every day while some will stand the test of time, other might face extinction really soon and there is nothing anyone can do about it. Its a fundamental law that must be applied to in the crypto industry. |
|
|
|
I've been thinking about inheritance and I've thought of a few options for this but I'm wondering if there's anything better:
1. (my favourite) make a transaction for a block approximately 10 years in the future from my current bitcoin address and sign it leaving the rawtx hash, a qr code and an address and private key in plain text that will be funded at that block height.
2. Send it to an exchange (OK not a great plan but not the worst either) custody of the funds on a ln exchange will be awarded to those who inherit the email account and other information...
3. Leave my computer as it is and see if people can work out what I've done (though it includes some fairly complex multisig that will turn it into a bit of a treasure hunt).
4. Buy physical bitcoin every so often and use that to store the coins instead but the mini private keys might not be too secure.
Anyone else got any ideas?
Going through all of the above is a stress especially the first option which to a noob in technology or crypto would not only be boring but equally too difficult. Instead of all this, why not make a video or a detailed not that would be kept in a safe place to be accessed on the occasion of death then make a will to that effect without any stress and you will be good. To me I see this option something so simple and would achieve the same objective the entire long and technical processes suggested would achieve without considering the inherent risk of some of the options above. |
|
|
|
Bitcoin market analysis of Step by step , this cur rent year 2019 bitcoin will be recovery its price and reputation. I think bitcoin will be highest soon
You made reference to market analysis but you didn't even bother to share a tip on how it really works to or do the analysis for everyone to read in other to make an informed decision whether to follow your line of thought or ignore it which is not far from what is going to happen because you have only expressed an opinion not backed by facts. A worthy of mention is the part of analysis which is only based on historical figures and historical figures have proven not to be worthwhile other than for prediction and not a determinant of what will happen in the future. The point I am trying to make is whether the price of bitcoin will recover to an unimaginable or to zero, is largely dependent on market participants and how they reacts to unfolding events. |
|
|
|
Those who invested in bitcoin way back 2009 had not experienced any bull run before nor have much knowledge about the blockchain technology, yet they took the risk to invest. You and I have witnessed a bull run and heard about the numerous potentials of crypto so why do we still have to feel reluctant to invest in bitcoin. Let's be optimistic about our digital assets because its all we have.
Being optimistic really takes a lot of strength and the people who could not stand it have equally left to pursue other interest. Its even evident on the amount of people on the forum and that points to one direction which is, a lot of people are found when things are going on fine and the moment that is out of the equation only the genuinely interested cared enough to stay. For me, its about the knowledge that have been the driving force and as long as the forum remains the hub of information to go to, I will still be involved in crypto because its only a matter of time that things will be back to its original point which would be the envy of everyone. |
|
|
|
If you want quit addiction from something then you may need to change your life style and concentrate on long term pleasure like building your career or doing workouts and getting success in your business like that.
You have given addiction a succinct definition and an all encompassing one at that but the solution to it seems something too simple in that if that is the case, then we won't even have people getting addicted to any thing in the first place. My point is, everyone dealing with one addiction or the others knows that there is need to get out of it or work more, get successful but the question really is how?. A lot of people would go to work in the morning and then come back home to relax thats when they gamble should that person continue working even when the office has closed in other to beat the addiction? Of course that is not possible. Identifying that there is a problem is the first step after which to follow with gradual withdrawal and not getting tired of keeping to it. |
|
|
|
How to file tax if another user using coinbase, a family member lends you couple of thousand dollars converted into bitcoin from their coinbase account to yours? Will there be tax on this? I hope not. But can coinbase or anyone who knows help? There has been a severe loss nothing gained.
Losses in any form of tax judging from the tax jurisdiction I am very much aware of won't be as high as that of profit. For example, if one is taxed as Company and you make losses, you will only pay minimum tax after meeting certain conditions which is way lower that the established tax rate. For capital gains tax, you only pay on the gains and not losses as we have it here. What you need to do is identify these options in your locality and enjoy it accordingly. Just make sure that you file your returns in due time because losses does not exempt one from paying penalties of late returns. |
|
|
|
Imagine that you send some bitcoins to Livecoin to buy some altcoin that you were interested in, did some trading, found some profit, increased bitcoin count. Very nice, but here is the problem: Turns out Livecoin deletes all of your trading history every 15 days. I realized this when it was too late because the fuckers put it on tiny fonts somewhere where it's not that visible. Now I have lost the trading, so if I wanted to sell the bitcoins that were obtain through the trades in there for fiat and they asked for details, I wouldn't have said details since stupid Livecoin apparently thinks deleting people's trading history is a good idea.
What would be your options if this happened and you were saving money to buy property? It would suck not being able to sell your trading gains. I would be worried to simply tell the truth, that the trading history is lost, because they don't really care about the truth, if you have nothing to show to prove the funds are from legit origin there is a risk they screw you up. Any ideas?
It really calls for concern and even me I have been a victim of this but since its not something I would really need, I don't bother making a fuss out of it. Its seriously not right to delete ones trading history but there is no way around it because we have all consented to their terms which included all of these activities. A way out is to write them and ask for special treatment to download it for you. They would either do that or reply you that they don't do that and how long they delete trading history. With that, you can then print the mail and use it to support your claim to show you are saying the truth. |
|
|
|
Possibility it may happen but I am not seeing that for now from what the chart shows. We might see 2 k mark possibility within the first 3 months of 2019 (January-March) and 1 k probably second quarter.
People can make predictions about what they want but its not the determining factor. The same set of people are the ones that would be full of several predictions about how price is heading for the moon should a minor push should just happen. The bone of contention is that whatever they like they can say, its not what makes price what it is. |
|
|
|
I signed up today on this "New" gambling site which offer a Free 0.2 btc when you use a promocode. You have to play the roulette atleast once to withdraw your earnings. And so I did, but when i tried to withdraw my balance it says that I need to make a minimum deposit of 0.01 btc to be able to withdraw my balance. Which I didn't do just to be safe.
I research about this website but unfortunately I can't find any information about it. Does anyone heard about this new gambling site? Is this legit?
I can't even believe you could fall for such too good to be true promo. Even though the price of bitcoin has crashed, 0.2btc is still not a cheap money which is equivalent to above $600 and you expect someone to give you that amount of money free of charge? I doubt if such thing exist. I am happy that you were able to figure it out when asked to make a deposit because some greedy individuals would have fallen for it expecting that when they make the deposit, they are now in a great position to make withdrawal. If that is not possible, they would come out and shout scam not knowing they actually called for it. |
|
|
|
Except a borrower would complete the entire process for which the loan is needed in crypto currency and would equally get contributions in crypto in other to make profit sustainable to pay back the loan and its accruing interest, it really does not worth it at moment. But if some conditions are included in the loan agreement to hedge against all of the fluctuations that are likely to arise in between the days of collection and repayment, then its something to be considered. |
|
|
|
|
From what I have seen here on the recommendations you made, its something I would call an Escrow system which is something already in place and what is applicable in most peer to peer site that they create a form of timing for transactions between two people and you are equally allowed to open s trade dispute should in case you are not comfortable with the trade.
On the other option of making transaction reversible, how that would be possible is what I can't get my head around except the entire bitcoin or crypto is reconfigured to make this option possible other than that, I fear we might have to do with what we currently have and continue to protect ourselves in the face of people who are bent on ripping us of.
|
|
|
|
|
This is a huge leap and even came as a surprise to me the way the US government constitution is so structured that a sensitive matter as currency could be within the purview of States that they are allowed to legislate on the type of currency to be used within their own jurisdiction. I doubt if any country that practice any form Federalism would give any such of freedom.
Of course this is a significant leap both in the short term and long-term part of it. However, its not enough to go by and start some crazy speculative moves in other to make make some imaginary profit at the end of the day. Until, when its eventually signed and implementation phase comes in, we might not see the direct benefit of this move any time soon.
|
|
|
|
The Alpha version of the Atheneum Marketplace (AMP) will be launching soon. It's our project's MVP. The purpose is to create a free market ecosystem where instructors and students can directly interact without institutional costs. For those of you that have launched marketplaces before (or maybe even utilized an alpha version of a marketplace) what unforeseen elements emerged for you that needed to be dealt with?
The only concern for every market place is on the basis of security. Several online market place that promises some independent and flexible listing even in the fiat world have closed because of that as a lot of bad individuals infested the platform in other to defraud innocent individuals and rip them off their hard earned resources. If you can secure that part of the market place, then every other thing is a challenge that can be surpassed with time with constant update and readiness for change. |
|
|
|
Been to Thailand and was amazed how some of the businesses adopted to crypto by accepting bitcoin payments. The very first thing that I look for are those places that accepts bitcoin payments. What I did is visit some good spots and was so excited to experience the fun and the idea of using bitcoin as payments in exchange for certain services or goods. I can't forget the experience I had with The Pink Panther in Bangkok and was really amazed that I was able to pay all the bills with my bitcoins. Such an exciting vacation and adventure together with my friends. We had also visited Wolff’s Bar and chill for a couple of minutes consuming few drinks. What a wonderful country with good food and open minded people, embracing the idea of this new technology that we are in. If you want to travel and chill with your friends and families, don't forget to visit Thailand. You can party all night, drink and eat all you can and just pay with your bitcoin. Less hassle and a lot safer than bringing cash with you.  The downside is that there are some remote beautiful places that has no internet connection. I'd definitely go back to Thailand next year. Can't wait for that moment to come.  I am really impressed with your experience with vacation and even more surprised that a country like Thailand could be as open as you have described it. My initial thinking was Thailand might have gone the way of weak countries who felt the best way to handle bitcoin is to go the way of banning and also filled themselves with the idea that only on dark web is where bitcoin is being used. I see this as a new opening for business for businesses in Thailand and the only thing left is government to ensure that crypto activities are done within the confines of the laws so as not to be abused by unscrupulous individuals. |
|
|
|
Seeing ATMs popping up is one thing, getting people to actually use it is another. Usually, these ATMs put up an exorbitant transaction fee for anyone who use their machines, and for most people this might sound like a go-to when they need cash or bitcoins, but once they found out that it charges crazy high fees, they might just ignore it. Anyway, bitcoin ATMs are becoming normal now, and the way I see it, these ATMs will be a crucial part of getting the word out and perhaps adoption, too.
I think I would agree with you on this. Bitcoin ATM to me is not in any way appealing because of the cost that would be attached to doing a transaction whether its to buying or selling where there are several alternatives that have been made available by the peer to peer sites where you could actually trade with human beings and you could actually forge a real relationship. Another concern is the fact that its going to be a centralized form of exchange which personally is giving powers to some set of individuals to decide the situation of things. |
|
|
|
|
The position of JP Morgan had been known since the beginning of things especially when crypto started gaining the right amount of momentum and they begin to notice the continued popularity. However, their assumptions is correct in the mean time because its really going to be difficult to have the kind of economy that would give crypto the maximum support but there is a shocker to them which is that, if there is consistency in the push of adoption, it won't be for long that there will be an area of convergence that crypto would feature and won't create any form of disruption.
|
|
|
|
every year before Chinese new year around 2-4week BTC price alway drop like last year from 11xxx in 28 jan drop to 62xx in 06 feb.
after Chinese new year (16 feb 2018) price rise back do you think this year is same pattern?
I have stop believing in all of this. Although, I am not underplaying the amount of influence national holidays could have on the price of bitcoin but there is need to just shift attention away from that and focus on objective reasons and point that could influence the price of crypto in our preferred way. Since last year when the price has been going down, there have been series of event happening in several countries all over the world and even those who are not as harsh against bitcoin like China but nothing happened rather than increase in price, the opposite is what is being witnessed. |
|
|
|
In Venezuela ppl r experiencing hyper inflation. It can ruin ppl financially. If u hold crypto before ur currency hyper inflates . U r consider rich? Trouble times but crypto helps in economic times definitely.
Eventually it evens out based on intuitive looking at the situation of things. The reason for that is because of the need to exchange your crypto into fiat if you really wants to buy anything with it as long as crypto is not accepted as a legal tender. When there is hyper inflation, the local currency gets weakened while the prices of goods in the local market increases to another level. Which then means as a crypto holder, you will have to exchange say your bitcoin at a higher rate but when you buy with it, you get the same goods you would have gotten prior to the inflation period. The only advantage is that, while those who hold fiat see their wealth drop, crypto holders still maintain their purchasing power. |
|
|
|
|
Show Posts
