Interesting story and could be one of the future scenarios for Bitcoin.
However, Bitcoin might continue to exist without needing any supply extension. 21 millions are more than enough as the subdivision is one satoshi 1/100000000, suficient for daily transactions.
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Banks are not and won't be scared of crypto as long as the volatility will remain very high in this domain.
Imagine how would it be for you to be paid in crypto, this month you receive 1000$ and next month 500$. Would you still prefer to be paid in crypto or fiat?
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One of the main rules in crypto is to have patience, or you don't look to have too much remaining patience. 😊
The easiest and less stressful way to earn some money in crypto is to buy a hardware wallet to be sure you won't remain without your funds overnight and hold your Btc for at least 2-3 years. Don't panic sell, don't verify the price too often and never invest in crypto more than you can afford to lose.
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All they're trying to do is to completely regulate cryptocurrency so that people won't avoid paying the likes of tax. Not to mention they don't want people trading cash for crypto because a lot of people have cash that the goverment doesn't know about to begin with.
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If you are not an institution with millions of dollars to invest, Bitcoin mining is not profitable on longterm for individuals, except if you have completely free electricity.
With every halving the mining difficulty increases and with time is more and more difficult to recover the price of mining devices.
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From the beginning you assumed a huge risk as the main rule in crypto is to never invest more than you can afford to lose, or I'm not sure how comfortable you can be to lose the money from your sold house.
Good luck, anyway!
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Be careful with what you trade and on which exchanges. A lot of people must have lost their asses with cryptopia. First the big hack, and now they just shut down for good. Hate to see anyone lose their investments, but Cryptopia was a seriously risky website to use. It's UI was amateur at best. Coding and security features were suspect, which proved very true.
Also, there were a lot of shitcoins that I think were only listed on Cryptopia, so those are probably going away for good now. That's a good thing. We need some consolidation in this game.
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Best method to increase your alts is to hold tight your Btc.
Just remember, later when you lost money, remember why did you give BTC for any altcoin. Don't buy hype.
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If cutting off electricity for miners would be a solution, or even possible, why don't the goverments turn off electricty for black hat hackers? I think you don't understand very well how electricity, the internet and goverments work.
As for making something illegal to trade with cash, that's even dumber, it would only raise the price of bitcoin more. Trading cash for drugs is illegal, that's why morphine costs pennies if you have a prescription but it costs a lot of $ in the streets.
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Bitcoin's value is basically supply and demand. Which since there is a limited amount of bitcoin that the blockchain can be mined up too, it inherently becomes more valuable over time as long as it is used. Since bitcoin can be sliced up into any decimal amount of shares, it can represent any amount of currency.
The power of math and the free market, there you go.
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Ironically, bitcoin is more secure than most countries' own currencies. It's also a genie that is impossible to put back in the bottle. You would have to wipe out all computers utilizing the bitcoin and the entire global network they share to get rid of bitcoin.
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The central banks have a massive ponzi scheme thats going down soon with the negative interest rates. this monetary system as we know it is a total scam, meant to rob you.
Like someone commented, btc is run by iundividual nodes across the globe, it cant be shut down. although there is about 80% of the circulating supply controlled by 2 % of wallets, but.... nonetheless, the usa is banning something that, under uc article 9, isnt defined. Just like with mmj, they have to find a way to come out on top , once they find out then they make it legal. i am no economist but if you think holding on to dollars/fiat is a good thing then ill happily buy more btc and altcoins. This ponzi scheme we call central banks are not going to last for long.
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Personally, I don't think that Libra will have any positive impact for crypto environment. First of all, Libra will be a stable coin, so it's price will remain stable as long as it will be used.
People interesting in crypto will not be very interested in a stable coin that can be used mainly only on Facebook platform.
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I agree that buyback programs can have a great impact on tokens' price. However, there are some other very efficient ways to protect the price: - temporary lock the tokens sold with high discounts / bounty hunters - tokens burn => this will decrease the total supply and indirectly increase the price.
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Nobody can tell you exactly when is the perfect time for an investment. It all depends on when you buy and if you have patience enough to sell high.
More important than when you invest is to never panic sell and always try to respect the main rules in crypto: buy low, sell high and never invest more than you can afford to lose.
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Sorry for your loss, mate. 0.4 BTC is quite an important amount of money.
To avoid these situations in the future, I highly recommend you to use a hardware wallet. (Ledger Nano, Trezor etc.) Phishing attacks become more are more often nowadays unfortunately.
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If a country were able to target miners directly, the miners are going to be able to find work arounds. Electricity cut off, use alternative source of energy or find a way to mask your mining. Black Hat Hackers already do this by mining through other people's pcs through bots and viruses that are scattered across any number of websites, files or other executables that people trigger without even realizing it.
Even a grey hat hacker could run a generator for power, then mask and reroute through proxies, VPNs and virtual OS on flash. Miners who know what they are doing can hide easily.
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You people are aware of the ban the US had imposed on online poker and the events unfolding on the infamous Black Friday, and the sudden death poker income oriented online casinos suffered as a consequence, right?
What makes you even think if btc does indeed expand enough to represent a threat for the national currency of the US or any other country, said country/alliance will hesitate to and find the correct methods to eliminate such no doubt essential threat?
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Acording to the statistics 75% lose money in trading forex some say its 90%, in stock market only 10% makes real profits i really believe in crypto trading people are not so sucessfull also unless they just hold btc and not trade or buy shitcoins. For some to win others must loose it seems to me that there are a lot more loosers then winners ho ever is winning is making good money then
In sports gambling websites the probabillty to make money seems a lot better 33% or 50% (when there can be no draw ex. finals). The the probability's looks a lot better then trading. Personally i know one guy completly bankrupt because of gamling.
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Feds cut the interest rate, increasing fears of new recession.
US economy has been on a 10yr bull run without a major correction. Last recession was in 2008, and we didn't hit bottom until around 2010 when things finally started to rebound. And it still took another 2-3 years before economy really started to pick itself up and shake the dust off. Of course, the catalyst for that collapse was the bank-loans-for-housing scandal. What will be the catalyst this time that pushes us over the cliff?
Watch the price of gold closely. It's been pumping since the beginning of the year. Why? Because the big institutions know what's coming.
Pull up a chart of gold between 2008-2012 if you want to see what the price of gold does during a recession.
No telling what crypto will do. Most think it will pump, but honestly, nobody has a clue as this would be the first real recession during crypto era.
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