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I tried to read that article, but it is just so much broken English that it is virtually pointless to try.
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You'd have to be stupid, incapable of processing information or nuts to be doing that type of thing in the USA in this day and age. Sucks for him but what on Earth did he expect would happen?
Stating the 5% premium for "no questions asked" is just stupid. Whether one is a fan of or believes in the rules, as long as they are on the book you have to comply with them, to do otherwise is asking for a result like this. |
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Browsers support like this would be incredibly important for micropayments. E.g. if you agree to pay $0.001 to view a web page without ads. or $0.01 for a day pass to a web site.
Seamless and a huge potential use case for bitcoin. Not to mention it could change the dynamics of the web away from the big tracking corporations (e.g. Facebook, Google) to privacy and freedom.
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Despite the excitement being generated in the space of cryptocurrency, to the tune of a $200 billion market capitalization or about five times that of popular electric car maker Tesla, 2018 has been a decidedly bad year in terms of increasing valuation. Since reaching a pinnacle in December 2017, when Bitcoin prices soared on an exponential bull run to end the final quarter of the year, BTC and the majority of the altcoin marketplace has seen a steady erosion in price over the last ten months. During that time, there have been numerous stories, indicators and otherwise wishful comments made that the bear cycle will break before the end of 2018, with at least one more bullish leap for BTC before we enter the new year. However, last year’s all time high of near $20,000 is appearing to be more and more of a longshot as we enter the final quarter of the year, with the potential for another exponential increase for the coin also looking dismal. There have been bright spots for Bitcoin valuation, particularly in relation to news surrounding the development of a BTC Exchange Traded Fund. Article in full is here: https://ethereumworldnews.com/bitcoin-price-cryptocurrency-2018-2019/They just need to have patience. New use cases, lightning, other improvements, another halving in about 19 months (May 2020) etc all will have an impact during 2019 and 2020. 2011 and 2012 weren't wastes. Consolidation takes time. |
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Loose lips sink ships... or unfortunately get you stabbed and killed in this instance. I don't know the circumstances surrounding this case and how they knew to target him but I see a lot of people boasting about their crypto wealth on social media as well as posting wads of cash they've got from their profits. This sort of insecurity and need for validation can open you up to thieves who are looking for people with a lot of cash to easily target. I have a friend who regularly uses Local Bitcoins to sell his coins for cash and he says many of the people he deals with are lax with their security and boast about how much cash and coins they have. The fact that people are dealing with a semi-anon currency and are trading it for large amounts of untraceable cash money is always going to make people an easy target and I think these sorts of bitcoin robberies will only grow over time sadly.
Yeah, and he had traded out about $120k, in cash supposedly. If he had $120k in cash in his apartment, that just isn't safe if people new it. It didn't say that I saw, but one would also assume that the $120k was stolen from the apartment? |
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Zambia is afraid that their citizens will have an option to protect themselves from the inflation in Zambia. It isn't Venezuela or that range yet, but now is the time for the people of Zambia to protect themselves from the thieves in government who will silently steal the value of their savings every year.
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...
Cybersecurity breaches and cyber attacks on critical financial infrastructure represent an additional source of risk because they could undermine cross-border payment systems and disrupt the flow of goods and services. Continued rapid growth of crypto assets could create new vulnerabilities in the international financial system.
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It is more likely that crypto assets will expose pre-existing vulnerabilities vs create vulnerabilities. They won't like that either of course. And "some" regulation leads to excessive regulation quite quickly once the power-hungry SOBs start. |
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The Indian government wants to control the people of India by controlling their money and freedom to use what they want. Just like they control gold and other PMs, they want to control bitcoin because it would give the people the freedom to avoid the paternalistic heavy hand of the politicians in India.
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Unless each one is radically different in some way then I don't think this will happen.
It's hard to come even close to what Bitcoin stands for in terms of decentralization. Everything that we see launch today is either a project ran by a bunch of geeks who haven't had a shower in a while, or some corporate bobos thinking they re-invented this whole industry. In all cases there is a public face behind the project that subject itselfs to all sorts of central single points of failure. If you try to dump the source code of a certain project in the wild public and then vanish in the hope it will get the same treatment as Bitcoin back in the days, you'll come back a couple of years later to see that no one even bothered to pick it up. It's next to impossible to even form a remote competitor in that regard. The crypto industry is more diverse than it has ever been, but the incentives are different now. Decentralization is no longer the priority, scalability is, which means that projects don't even bother to act as a decentralized incentive anymore. They just want the economical numbers on their side. It's going to take some time for enough people to figure it out but eventually they will and that is for most things 'blockchain' is a pointless pain up the arse. The only thing that actually justifies the hassle is decentralisation and virtually nothing other than bitcoin and a handful of others actually is. What remains will be some clunky code best abandoned followed by a return to databases. Good points, not to mention also that the value behind the bitcoin ecosystem is what helps to keep everything safe. Without the value there to secure the chain, none of these other coins will last. (Besides the fact that few offer anything additional of value.) |
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Advertising for ICOs just screams "scam" to me. Most are scams anyway, but having to advertise for them just makes it even more scammy.
Exchange ads, I can see the point of them.
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$80 Trillion? If you google how much money in the world you can see some very similar numbers. Did Tim Draper mean that Crypto will replace all the money in the world in 15 years? I thought this could happen much later, but I can assume that he knows more than me in this field.
What he's surely right about is that the significant decline in the cryptocurrency market in recent months is attributed to people who have not adopted digital currencies as a new asset class yet. If the number of crypto adopters mounted to hundreds of millions people we'd never see any price drops during whales' dumping.
I don't think you just can compare his prediction to "money." Like gold, real estate, stocks etc, bitcoin is an asset too with some great properties - for example, it can't be confiscated (stolen) by 'progressive' governments trying to buy votes. You can go over the border with it and no one will know it (unlike, say, gold or silver). There are many other examples. So, if you compare that prediction to assets, you have a huge variance of estimates. For example, one estimate says the total value of all real estate in the world is about $217 trillion (in 2015). Adding it all up, you get $500 trillion to (maybe) $5000 trillion depending on who you believe. Will it hit $80 trillion in 15 years? Who knows, but when you look at it as more than merely money, it makes it more believable. |
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@Slow death. Agreed but it is sometimes not as simple as that. There are specific causes on why bitcoin has low demand or high demand.
I reckon it is similar to what occured in Ethereum. The EOS development team has massed $4 billion in ETH and it stores them in maybe 2 or 3 exchanges which Bitfinex holds the largest quantity. Would knowing that increase confidence and demand in Ethereum?
Why would anyone store then (long term) at an exchange? For me, it would decrease the confidence in ethereum if the developers haven't been paying attention the last 9 years. |
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Every day Venezuela loses more control of their people - which is a good thing. Anyone who trusts the socialists (or communists or fascists or any authoritarian/collectivist for that matter) has their head in the sand and will eventually lose whatever money they have in something the socialists are able to steal.
There is no such thing as a free lunch no matter how many times they claim there is even if it may have seemed like it in Venezuela 2 decades ago. It took about 20 years for the socialists to take Venezuela from being a prosperous country that was reasonably free to a hell-hole where people are starving and have to flee the country to survive.
The people of Venezuela were sold - and then bought when they elected Chavez - a bill of goods. I hope (but doubt) that other countries will learn from this and not go down the road to socialist slavery.
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That would be a very nice dollar price. IF adoption picks up - e.g. lightning for micropayments - that would be one great use for it. Of course no one knows. |
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And ultimately, this is the reason why bitcoin is so useful, and promising. There are no worries about a fiat currency collapse, bank runs, bank limits, etc. And it's practical - Venezuelans can use it on anything that has access to internet. Once they gain access, they have a place to store their wealth safely without worries, and also transact internationally without limits - huge improvements and benefits.
... At least the petro can't be printed into worthlessness. ... True. They'll just change the peg to completely devalue it. When it is pegged to a billionth of an ounce vs a barrel (or whatever) the number issued won't matter. :-) |
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From that article it seems like the people of Venezuela are smart enough to know that the "petro" is just another method that the socialist authoritarians in the Venezuelan government are trying to use to steal more value from the people of Venezuela.
The end for socialism, communism, fascism and other collectivist authoritarianism is the same: eventually you run out of other people's money to redistribute. Hence the value of bitcoin. It can't be stolen without actually finding the private keys like the evil people who want socialism,communism, fascism or any of the other forms try to do.
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Total News - 8/21/2018 - Atlanta, GA The chart of the day shows Crypto penetration in a country which is feeling the effects of a deteriorating currency. Recently we reported on the situation in Venezuela, although that has been happening for a number of years. In Turkey, there recently has been a run on the Lira, with President Ergodan even begging Turks to go buy Lira in favor of Euros, US Dollars, and other foreign currency. It should come as no surprise that Turkey and other emerging markets are filling the top, but it is also interesting to see USA at 8%. Recently executives were polled about their Enterprise blockchain plans, and about 8% of CIOs said they were either planning, considering, or already had a Blockchain project of some kind. In previous crisis, stable currencies such as the US Dollar were the go to foreign alternative to a falling or hyperinflated domestic currency. It will be interesting to see the reaction if any of US regulators on Crypto Currency insofar as to defend the role of the US Dollar as the supreme accounting currency and reserve currency of the world. https://portal.totalcryptos.com/news/turks-gobbling-up-cryptoTurkey, Venezuela, Cyprus - and India, Argentina etc - are all reasons why everyone should own some crypto (and probably precious metals too). When the socialists, communists, fascists, or other authoritarians/collectivists come to seize your wealth, it is good to have some insurance. Pleas like in Turkey are a start, then capital controls etc and at that point it becomes much more expensive to protect yourself. |
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I reckon it will begin to be good to invest in the cryptospace again when it removes the scammers and starts replacing them with the real engineers, developers and computer scientists like Woz.
There are scammers everywhere and real engineers, developers and computer scientists are involved - who do you think was writing the software, running the cpu and gpu miners pre ASICs? Lots of people in those groups. Many are still around. |
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I agree. Certainly in 2010 and 2011, it felt like the internet in 1992 and 1993. It seems more like the late 1990s right now, but that was still a great time to be involved.
So...we have a huge crash coming around the corner?  Yes, early 2018. Of course if you didn't track the dollar price between August 2017 and now you'd be quite happy. |
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I agree. Certainly in 2010 and 2011, it felt like the internet in 1992 and 1993. It seems more like the late 1990s right now, but that was still a great time to be involved.
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