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It seems that they're back at it again, and the only way the people of Zimbabwe needs to do to avoid such rapid inflation is to use other currencies which are banned from being used in the country by the government. The events in Zimbabwe currently is a prime example that not every revamp is successful if the same steps that led to the previous failed attempts are being done again. It seems as if the government themselves are hindering any progress on their country as evidenced by their lack of control on cash flows resulting into tremendous inflation. If the same heads rule the land with the same way of thinking, then idk, the citizens are probably doomed.
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At this point in time, exchanges are still on the grey area of the playing field somehow, even though a lot of eyes in the government are already looking at its direction. We see Mt. Gox paying its creditors years after the event happened, so that's somewhat a good thing knowing that legal proceedings still help people who are victims of hacks due to poor security on exchanges or just the plain old scamming people technique. One thing's for certain: regulations need to be defined thoroughly on exchanges for customers to at least get some form of protection from all the sorts of uneventful things happening on exchanges. So how can you trade securely? Do you feel comfortable?
I normally just deposit funds and withdraw immediately if the trade is complete. I don't let my funds sit for more than 48 hours on an exchange no matter how reputable it may be. I'm not taking chances knowing how many hacks are going on recently. How do you see the future of decentralized and centralized exchanges?
Centralized exchanges are still going to be the favorable platforms given their volume and the sheer weight of resources and investors they can carry. There are lots of promising things on DEXes though without proper support from the community, those wouldn't materialize and wouldn't progress. I'm kinda wanting a good DEX to try my hand on though there are some but with little to no volume on them yet. |
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With my knowledge and understanding about bitcoin, I want to ask if marketing of products or buying and selling of other products in bitcoin forum is possible or bitcoin forum is all about cryptocurrency and if probably it is indeterminate or fortuitous to venture into such transaction in bitcoin forum, what is the hypothetical or promising level of making such action or purchase a successful one, and what is the gratification and detriment of such interprise.
You only need three things: common sense, a person whom you want to deal with and a highly-trusted escrow. Knowing that you're in a forum of basically anonymous Joes, it's hard to actually find a deal that will not get screwed, or you ending up scammed. Escrows are somewhat the means to combat that, though be careful that there are also trusted people that can turn against you and start doing their scamming ways even though they have built quite a rep. Trading in this forum is still pretty much active even though times have changed. You may find some good deals from time to time however, if the deal is too good to be true, ask questions and do some research first before getting into it. The cons, however, is that trades are usually slow, although with a trusted escrow, trades/deals will be smooth and most of the time, funds would be safe. |
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theymos would never implement such, as he himself believes that privacy is the utmost priority of everyone dealing with cryptocurrencies and as such, he only does require/implement KYC on April Fool's day. Again, this forum does not condone the workings of scams and whatnot but it certainly does not take down possible scams as well, for it might be misinterpreted as some form of power trip/taking away freedom of expression from any member that could possibly scam people. Red trust exist for a good reason, and that's to serve as a tag for someone who might do something nefarious and for people to be aware that they (tagged people) already had a bad rep (or it could be used as a tool for revenge, some sort of personal issue etc.) The point is, community members should look after one another, and should be educated well enough to spot such scams in the making.
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Maybe it's time for exchanges to think of a new approach when handling their hot wallets. It feels as if the hackers know that these are the easy ones to target and do not dare touch the cold wallets knowing that the security would be tight. For most exchange hacks that have happened in the history of bitcoin, the targets are always on the hot wallets and not any other part of the platform which is understandable, considering how it is basically an open wallet with lots of ins and outs (txs) and can be hijacked on the fly. This will not be the last of the exchanges that will get hacked if security measures aren't changed.
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I nearly had a heart attack when I saw that bitmex is being probed by the CFTC today.
I'm wasting my time writing these legal posts in the hope that more informed proffessional people on this forum will see it and pass word along to people who are connected and capable of lobbying.
The retail noobs who think regulations in crypto are good are just profoundly ignorant to international security and derivative law and american aml kyc law and the history of forex and Dodd Frank and what America did to the forex industry for forex traders.
If people in America do not lobby and fight congress they are going to plow crypto into submission the way they did forex, they are going to ban alt coins and ban leverage to such a draconian extent that no unrich american will be able to adequately benefit from the global market in crypto. They are going to make the regulatory barrier so high, that it is impossible to make money in crypto unless you trade like the top 10 main coins on spot. That is unacceptable, and a gross oversight of the American government, but please go on about how terrible bitmex is and how you want daddy government to step in and super regulate every other country in the world until you are perpetually stuck in minimum wage jobs or forced into the futures or marijuana market. You have no idea how powerful and dangerous the American regulators really are. Underestimating them is profoundly dangerous.
They are trying to build barriers so that no new money would ever come into the 'wrong' hands--by 'wrong' meaning every other dude except for those who are in their circle. I understand your sentiment regarding this matter, and if such an is to happen, lucky are those who traded the hell out of crypto right even before this regulations were put in place and made actual money off of it. The lobbyists in America seemed to have gone silent, and those politicians who are pro-bitcoin have went quiet as well, which leads me to thinking that they released such statements to only garner attention and support from the crypto folks without doing anything in particular to have a fair regulation for crypto. |
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For the most part, it isn't, especially if the platforms holding/keeping track of our KYC documents are careless enough to get it to the wrong hands. It's only the government's mandate to get actual KYC for keeping track of what the average Joe's and literally almost everyone does with their money, and masking it with words like 'anti-money laundering' and other illicit stuff they could think of. KYC does not protect the customers in any way and in fact, it exposes them with more risks of getting involved into serious heinous crimes without them knowing.
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So our moto "Banking the unbanked" is now Libra's main verse and noone seems to actually care.
There has been a lot of discussions on Libra and its effects on the modern society, and I think that alone speaks up for itself to the extent of "caring" for what its worth. Our main devs decided Bitcoin should become digital "Store of Value", short of gold but in digits, instead of "A Peer-to-Peer Electronic Cash System" as stated on the title of the Whitepaper.
Facebook probably discovered that Bitcoin has difficulties in scaling so they made in no-time an answer to what the world exactly needs.
I have been seeing this 'bitcoin's scaling problems' since 2015 but really, why are we being so problematic about a scenario that isn't closely being there, or rather a problem being artificially created at times? Even the proposed big blocks and other solutions for scalability proved to be a failure at this point, and I admit that SegWit also has its own flaws and we are seeing congested network activity from time to time, but that doesn't mean that bitcoin in its current form falls short on most points that a working cryptocurrency needs. Heck, Libra might one-up bitcoin in terms of advertisement and scalability, but even cybersec experts are not putting their trust on Libra even if it's not out in the open yet. That speaks much about a centralized coin issued by a company that found itself over hot waters countless of times. What do you think the world needs?
Digital gold or a fast and secure digital currency?
Both, and I know that couldn't exist in one manifestation/coin only. but I'd definitely not choose Libra to be the digital currency we need, ever. From my point of view the Bitcoin community seem to be stagnant, without any real targets set. What are the targets you want Bitcoin to have?
The recent targets actually isn't about development but profits on the pocket, sadly, and that's the harsh truth that I have observed as of late. |
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I also got that notification from my phone's Google Calendar, and I have since deleted all of the reminders without clicking any of it in the link. This has affected all of my future appointments and alarms on the calendar but I do have some of the most vital apps installed here on my Android. I just hope that this gets forwarded immediately to Google for it to get rid off immediately. Good thing that I haven't installed my banking apps and other important things on this phone, else I might get screwed.
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Good thing with Tommy Lee is that he's always optimistic about bitcoin's price movements no matter how dire the situation is. Actually, he might be right this time. If we happen to stay at these levels or do not go below 20 SMA short-term which is a critical point IMO, we might even get a push towards $20k and end the year with that price. By then, it would pretty much the same 2017 FOMO scenario all over again, and might be breaking records to the top this time. Bears are still looming around the corners, as was evidenced by the last few days' drop towards $9200, but then again, we're still pretty much in the greens and bearish sentiment isn't forming as of late. May Tommy Lee not jinx his own predictions this time  |
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loool who pays taxes for bitcoin? I think that no one does it. it's strange at least It's not strange actually, it's just that no country has ever given a full framework giving bitcoin a category on tax. I myself am looking at ways on how to voluntary give my tax with the bitcoins I earned from trading, but then again the commission that handles the task on our country hasn't advised me to do anything, though I still pay taxes on my businesses which is different from what I earn in bitcoin. It's not that I'm pro-government, it's just that it's my simple way of giving back (even though I know that the bulk of the money goes to corrupt officials but hey, I did my part.) |
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What would you expect from a capitalist at heart? They would deny the facts laid bare before their eyes and continue insinuating that newly-rising assets are a pain in the ass and is hard to 'control' and of course, pushing their own toy in the middle of the playing field for people to use. Trump ignores the issue of the USD being used in money laundering and a lot more scams when it's presented as a question, but is quick to give his opinion in things he doesn't fully understand. Let him live in his own world full of delusion, and I'm hoping that he gets off of his seat in the next elections.
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I don't think so, unless you'll get the answer directly from the hundreds of thousands (if not millions) of users of bitcoin. Aside from having the first mover's advantage, I'm pretty sure that there are other factors that come with it as well, and you can include the trust and reputation it has garnered over the years even though the likes of litecoin, ethereum, monero, among other remarkable cryptocoins have surfaced. Add to that fact the mining industry which is worth millions of dollars, and it's one way of deeming the value of bitcoin, too. But then again, value is perceived by people individually, until such time that a collective price is achieved by these individual perceptions of value, and then we're here.
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Anyone can create their own copy of bitcoin, and even then, this won't really mean much in terms of regulations as it will still be under the creation of new, illicit currency and could therefore be grounds for one's prosecution or jail time. While the regulations/ban for bitcoin might be different, I'm pretty sure lawmakers and regulators have already kept that in mind while writing these laws. Changing the name of bitcoin won't do much, and besides, not everyone would surely use it just because some entity renamed it just so they can evade the ban. It will be harder in reality, that's I'm sure of.
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One thing's for certain: mining is absolutely not for everyone, be it solo mining/pool mining or cloud mining. True that in cloud mining, you get to have some feeling of hashing because you're getting satoshis on your wallet, but you still don't own the rigs and are not getting what you fully paid for, whereas in solo mining, not everyone has the capital to start with or does not have the necessary planning strategy to start their own farm. There are other ways to earn bitcoin and other ways to help the network, and it's not confined to mining alone.
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I disagree with the notion that gold is a bad investment. It is actually one of the best ones out there, you may think that bitcoin is better and you are probably right but it has super volatility as well and not that many old people like volatility (and can really understand what bitcoin is).
Look at all other investments, maybe buying a house would be better? Not in a bad market when house prices go down, maybe stocks? not when those scammy CEO is in charge, maybe forex? Not when governments are this bad at controlling the economy. There are so many horrible investments that even when you list all bad things about gold they are still ahead of others because other investments are even worse. I am not saying gold is the ideal investment method but looking at the others they are not half bad neither.
To put it in another perspective, every investment has its own timing, and it's just up to the investor on how would they weigh these investments and how would they choose it. I agree that gold is a good investment, especially if you're trying to use it as a hedge for devaluation, but it wouldn't make you rich, I'd say not unless you happen to stumble upon tons of gold in a dumpster. It only gets better if you're already rich and just wants to make a passive income without having to worry about the ups and downs of the Forex market or the stocks. Well if I have the luxury, I'd buy gold and other precious metals just to be safe, but then again, I don't have that kind of money just yet. |
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No wonder why Japan is the biggest cryptocurrency Haven. You can buy almost everything using cryptocurrency there.
Except that this will not be the type of cryptocurrency everyone is wishing to have. This network would surely be highly-regulated, and of course would be looked over and influenced by politics, unlike SWIFT which is specifically made for bank transactions worldwide. I would still like to stick with individual crypto networks and leave it that way. By that we can ensure the individuality of crypto and be free from the constraints of governments and banks which are trying to make the scene thwart its development and push everything towards their own favorable directions. |
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The article indeed mentions some strong criticism of Libra like risks of a lot of personal information being abused and a weird nature of uniting what Bitcoin has with regulations.
Hell, even without Libra deployed on the line, Facebook Inc. has already risked a lot of personal information in the open. With the said crypto being deployed and the frenzy of cryptocurrencies becoming so evident to the masses, Facebook's Libra is just a ticking time-bomb waiting to explode, and the fuse would be ignited by of course, the relentless pursuit of people wanting to get into the craze and letting greed take them over, thinking that Libra is x times better than bitcoin. First, he observed what he saw as a general failure of cryptocurrency. "Payment systems need to protect users against fraud," wrote Kocher. "Bitcoin and other cryptocurrencies have fared badly in this regard, resulting in numerous major thefts." I am not sure whether this point is real, though. I mean, cash gets stolen all the time, and banks get robbed as well as sometimes turn out to be the to robbers. Is it really happening way more with cryptos? Point is, once funds are stolen in cryptocurrencies, the trail is hazy and there's little to no chance of getting it back due to its nature of being irreversible and harder to track unlike cold, hard cash. |
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It's like becoming the trend right even before Facebook's Libra was unveiled. Well any businesses that has the weight to do hardcore advertising are diving into blockchain businesses and cryptocurrencies, and it feels like it's becoming the norm actually. The only thing is whether people are that into these messaging apps enough so much that they would use whatever currency is issued to them by the said platforms. Can I make a small prediction here? ---> The large social media platforms will eventually partner with Banks or be bought by a consortium of Banks, if they are successful with this. https://www.businesswire.com/news/home/20171017006772/en/Chase-acquiring-WePay-fully-integrate-payments-softwareThe Banks are lazy and they would rather buy out the companies or partner with them, than spending millions on developing their own Blockchain solutions. Yes, there are exceptions like the R3 Group, but most Banks would opt to buy or partner with a solution that are already developed and functioning.  It's possible. Social media sites would be the advertisers while the banks would be the producers/financers to ensure that everything will go smoothly. They will make a good team to be honest!  |
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Not gonna use Yobit, no way! Pure scam - just search the forum and net in general. Yobit may be related to a known scammer Pavel Krymov, may be not, but definitely Yobit operators are of Russian lineage.
Pavel Krymov had been arrested a year or so ago I believe, and in no way would he be able to create or manage another exchange if he's currently on the watchful eye of the authorities. Probably these are just another set of Russian cybercriminals, as most leads point toward the said country. The exchange reminds me of the now-defunct Cryptsy and Mintpal on operations: smooth sailing in the first few years until symptoms start to occur. First would be delays in customer service replies and next would be balances/deposits missing on accounts and the rest is history until such time that the said platform would just cease to exist. People shouldn't be using such services in any way, even if the service cleared its name from said allegations. |
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