...
If the governments of the world tried to shut down the Internet, the world's financial system (and almost everything else) would freeze up instantly.
The IRS gets much of its payments and tax information by Internet. I KNOW that Peru gets ALL of its financial info related to taxation via the Internet (yes, Peru is more advanced in that sense than the USA).
World trade would shut down immediately (our family company buys auto parts from Asia, and we no longer have fax machines). Places like Korea and Japan are probably more dependent on the Internet than even the USA.
So, no, the government(s) will not shut down the Internet, although may try to hide/ban access to parts. But as mentioned above, that would be very hard to do with VPNs, etc.
Yeah, the idea of government shut down internet, even ban bitcoin almost impossible because people will always find another way. But, I'm thinking about trade bitcoin offline without physical bitcoin, offline wallet (usb/hardware) could be accessed from any computer if I don't misunderstand about it, so yes, it can be done without internet but so hard to do imo. |
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try asking that question to someone who long term held from 2011/12 until now. they would laugh in your face and then probably spit in it too.
That someone reporting in with a big smile in his face  I bought in at 4$ and still holding, but I obviously diversify and hedge at critical times. For example, I sold a reasonable portion of my BTC a couple of days ago at 2700$ but I already set the buy orders at 1500$ to buy them back. Swing traders are idiots even if they manage to be profitable because it's a lot less stressful to be a long term holder than anything else. When you're going for the long term you pick a coin with really good fundamentals and legit reasons to generate a massive pump, you hold on to it for a year at least. So basically you make one good trade per year and you x10 your profits. you then are not even required to look at the charts every day. you have a shit lot of free time to enjoy life. so yeah, no need to boast about being a swing trader because we all know how stressful that is, your life sucks unless you're a no-lifer. Agree with Mr. Hyena, Op think ; people who holds for long term won't sell any bitcoin when bitcoin reach higher price. People know to sell small amount of bitcoin obviously, but not all of their coins or even a half because it will worth more and more in the future. That's what I thought about "long term". And op should read https://bitcointalk.org/index.php?topic=1980832.new#new |
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2018 - First official BankCoin are launched
2019 - Governments start to regulate Open/Public Blockchains and favor PRIVATE centralized BankCoins.
2020 - Open/Public Blockchains are banned in most countries.
2021 - Open/Public Blockchains goes underground and flourish on black markets.
2022 - Ban on Open/Public Blockchains are lifted, because governments are losing tax income and votes.
2023 - Bitcoin becomes the global reserve currency.
This is how I see it playing out in the near future, because governments think they can do what they want and will only realize what they have done, once they start losing votes.
I prefer to Op statement but who knows what will happen in the future. Although, govs can do what they want but not whatever they want, especially regarding citizens interest. Bitcoin has provided many projects and chances to support economics development for many people. Govs cannot ban bitcoin without legit evidence/reasons to do it, but it will make sense if they regulate bitcoin and exchanges instead of just ban bitcoin. |
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Depends on the merchant, the guy in my city(a baker) is fine with an unconfirmed tx. For sure there will be people that double spend as people are serious piles of shit, but that is just like the losers that dine and dash, steal from vending machines, etc. Business just eat the costs of human bile.
You can double spent a transaction with a phone wallet? But if you show your wallet, and the merchant verify that you send the transaction without any problem, and he find it in his wallet (without confirmations, but if you set a high fee, it will confirm soon). Of course, it's about fees to make sure every transaction get confirmed soon or wait for days. Another factor maybe the number of unconfirmed transactions, if its above 100K, then you have to be patient. If I have a coffee shop and you pay with bitcoin, I will accept it as long as the fee is sufficient, so it's depend on the owner as well. |
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I think it's not suddenly as; "On June 20, CNBC India announced that the Indian government committee has ruled in favor of regulating Bitcoin and is currently establishing a task force to create various regulatory frameworks with the aim of fully legalizing Bitcoin in the short-term."They have announced about regulate bitcoin but still not legalized it yet, I mean we know about this news and it won't be suddenly anymore as it takes months or even years (maybe) to convince govs regulate cryptocurrency. However, we hope bitcoin could be legalized soon in India and more countries follow it. |
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I apologize if this question is in any way naive.. I'm not really any kind of economics expert. I was just wondering what might happen to the world economy since there are so many new people getting rich off these cryptocurrencies... Just based off speculation or holding the right coins a lot of people have gained in wealth in the past years. And it doesn't seem to be slowing down.
So, you have a lot of 'new money' propagating even 'newer money'... and so on and so on, until a lot of people are pretty rich. Does this mean that there is a huge depression ahead of us? Surely just making more and more money can't go on forever, can it?
I'm sure I'm not seeing the big picture here so please, could someone explain it to me?
In a world of 7.4bn people where you already have some 35 million millionaires I don't see why 100~500 even 1000 new ones would make a huge difference. Add to that the billionaires which even if they have huge chunks of money they can't really change the world (only rule part of it  ) and you get the picture. There's just too much value created every day in every possible way to be consumed even by the richest. 35 Million millionaires? I'm wondering where you got this kind of information, just speculation of some people maybe or Forbes has stated it "in 2017 there are some number of rich people". I'mnot sure how much people who get rich because if cryptocurrencies, but 1000 is make sense. There are a lot of money (unlimited) because govs always print it for their citizens, then people want to spend it on something which one of the option that available is cryptocurrency, the main reason bitcoin (or altcoins) always growing up because fiat currency flow into this digital currency. Then people trade these objects and some of them could make profit through all of these cryptos. |
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ethereum got some attention for a couple of months this is the result:
average transaction fees surpasses $1 in 2 months [4]
blockchain is congested and caused ethereum and all the others relying on it to fail. all exchanges have already disabled all these wallets.
Where are you seeing that the average transaction fees for Ethereum surpassed $1? The mining network hasn't failed, and is actually increasing exponentially right now. Op already stated it source ; [4] https://bitinfocharts.com/comparison/ethereum-transactionfees.htmlI just know that as well, ethereum fees consider as high because its price not even reach $1000 and bitcoin fees reach higher fees at that point too. Although bitcoin has been faced various obstacles but it's proven could survive and stand still untill this level, after segwit or blocksize increased, hopefully spam attack could be disappear and transaction fees decreases. |
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Recently I have noticed huge changes in fees for depositing USD..
One to mention here is,
BTC-e now has a deposit fee of 7.5% for perfect money.
Before 7.5% they had 5.5% which was few days ago also available.
Don't you think that the deposit fee is totally unnecessary?
For me, withdrawing fees make sense. But why deposit fee? And why it is so high?
Please share your opinions..
For me even 1% isn't good fee but what we have to do? We have to stop using their service or agree high fees and continue. What about to find someone who wants to exchange btc/perfectmoney in lower rate? For example he/she will deposit usd in your adress and than you'll send him/her btc. (or use btc deposit if they have). https://bitcointalk.org/index.php?topic=1975324.msg19670492#msg19670492See this websites and see directly if they have pm deposit and % of fees. Nice thread about exchanges fees. It makes sense to pay fees when we do withdrawal, but I don't agree about deposit fees as well even though there are some exchanges apply this rule. I agree to stop their service as I ever stopped using one of those kind of exchange. However, if there's no any other option (exchange) to deposit or withdrawal your fiat currency, then you should let it go  |
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Hi everyone,
I have recently sold a large part of my BTC portfolio as I was spooked by a various sources telling me that BTC was heading for plummeting prices following 1st Aug and hard fork. They have also said that July will be incredibly unstable in terms of price as we approach the deadline. I a now sitting on cash and waiting for the best time t go back into BTC
Given that the price of BTC has risen every day this week and feeling that I sold unnecessarily and am considering buying back in. can you feedback to me.
1) Is the 1st Aug really going to be that bad and should we expect volatility in July as we approach the date?
2) Would you buy back in now or wait sitting on cash for a better price entry point in the coming weeks?
Thanks all
Matt
Well, good move as precaution act if I may say to have cash in order to buy back after that time. But, how if bitcoin price increase at that time (in July)? If I don't misunderstand, hard fork and bitcoin split into two different coins then people who holding bitcoin should get those two coins as well, as long as you don't store it on an exchange. I don't really mind to hold my bitcoin on wallet instead of convert it into cash, fiat money always worth slightly less (due to inflation) and bitcoin vice versa. |
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And why do you think bitcoin is being surpassed be Eth, could you please elaborate in more detail? In twenty four hours ethereum trading volumes passed bitcoin trading according to data from CoinMarketCap on tuesday. But I don't think that is sufficient "proof" that bitcoin is less popular all of a sudden. If Eth sustains higher trading volumes over a longer period, then maybe we can say Eth is provably more popular than bitcoin. It is nowhere near it for now.
Agree, why many people stated that ethereum could surpass bitcoin as number 1 cryptocurrency due to small increases of eth, I mean bitcoin price at $2600 and ethereum still below $400, how could it compete with bitcoin prices? When segwit activated, then bitcoin price will skyrocket again, even before segwit be activated, people will trigger to invest on bitcoin. I just consider ethereum as an alternative, so it's called altcoins, used for trading purpose. |
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According to my friend preev.com, as of press time, the value of Bitcoin is standing at $2,351. Though I would say that this still considered as a feat, some are worried because it almost reached $2,800 again after the correction that happened days ago.
I have read that the decline can partly be contributed to newcomers especially neophyte traders who still have to be well-versed on the market...and can easily be ignited to do panic selling once they can fell that anything can be wrong.
Against this backdrop...are you holding on to your Bitcoin or transferring it into another digital currency?
Bitcoin fall down and rise up are a common thing due to trading goes on everyday. People invest on bitcoin and sometimes have to cash out or buy an alternative coin to diversify their funds. But, do we need to worry? Of course not, as bitcoin price always recover in the right time and consider its price always increases over time. Panic sell is just for newbies and weak hand people. We're aiming for higher price than just $3000 or ATH over $4000. |
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What use is Bitcoin if in 9 years you cant even buy groceries with this shit
You cant build a business on bitcoin because of the volatility and even if you try to runa business on bitcoin you have to wait forever for a transaction to be sent
whats the point of bitcoin, if you cant do anything with this shit?
Just because you can't do that and bitcoin need to die? Lol If you want to buy something with bitcoin, there are some online stores accept bitcoin, and there are a lot of merchants accepted bitcoin in some cities (not in yours obviously). At least bitcoin has higher price than any other currency, many people use it as medium of exchange, for trading purpose and long term investment, depends on your choices. |
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Hi,
I really want to get into trading BTC.. what's the best way to learn it? any recommended course online?
Thanks a lot.
The best way is to learn from other experiences as there are some people in this forum share their trading activities daily. You can see this https://bitcointalk.org/index.php?topic=1944955.0 for the first time to find out which coin to invest. As time goes by, you could learn how to make profit in trading environment from your experiences. |
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Ethereum is indeed one of a good investment, even though it could be said to be expensive to buy. but I believe and hope that the investment is very advantageous for you ethereum so much happening the request ultimately price will be high value,
Yes it is true, better buy Ethereum now and invest it because I believe Ethereum will go up. I always remember when ethereum price still cheap like $15 per eth. Because many projects based on ethereum blockchain to collect their funds. Many people stated it as scam coin or centralized cryptocurrency and so on. But its price keep increasing and reach over $350. But, to break $400 maybe still need more time due to many people tend sell at higher peak. |
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in addition to all that, the only other thing that can hurt bitcoin the most is its users in my opinion.
mostly the users who don't understand bitcoin at all. they see it as a plaything to make money only and make it fast. they have weird expectations from bitcoin and when they are not met they start thinking it is dead.
and one more thing is many who have started calling bitcoin just as an store of value. and this will haunt us in the long term if more people stop wanting bitcoin as it should be (a currency) and want it only as an store of value.
Because the way to use bitcoin as a currency still far away ahead, long time confirmation and high fees become the major problems right now. After that problems resolved, we have to convince many people that manage business, merchants, groceries, stores and others to accept bitcoin payment. It will be different in every country of course as first world countries already have many places which accepted bitcoin payment. So, people treating bitcoin as store of value right now because its price increase significantly every year, one of bitcoin advantages. |
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Many people are now curious to know what bitcoin is, whereas once bitcoin was just underestimated, now upside down many people stop working instead they prefer to focus on bitcoin
Is this the impact of rising bitcoin prices?
Yes, one of many factors that affects bitcoin fame. Maybe higher price is the most interesting part for new adopters and trigger when they know it was $1, $100, or $1000 in the early of this year and could leap to an amazing price within 2 months. Bitcoin deserve so much attention from people who want to diversify their wealth or looking for another investment. Furthermore, bitcoiners believe that bitcoin could reach fantastic price such as $100K and even $1 Million, but who knows. |
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Yahoo was the first (?) search engine at the time when Internet started. It was the pioneer in its field. In the late 90's its market cap reached to a high closed to $120B. Three and a half years after Yahoo started, Google came out and gradually took away market share from Yahoo.
After 22 years, Verizon bought it for $4.8B. Would Bitcoin ending up like Yahoo in the future and got beat up by new competitions?
What do you think? Please provide your reason(s) to support your view.
There are some potential altcoins that maybe reach $1000 mark, but the problem is we don't know yet what coin or what problem that may occur at that time. Meanwhile, bitcoin already set at $2500 and the problems has recognized, if blocksize matter or at least unconfirmed and high fees problems be solved, and then bitcoin will continue to rise. How about in 5-10 years later? No one could predict it precisely, but for now there is no big sign about bitcoin may ended as yahoo. |
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The best strategy maybe different for everyone, I don't know how some people do math to calculate cryptocurrencies prices charts and predict what will happen in the next day/week. But, I know some people who did that and share their investment on some coins which mostly benefited for people in the group. You can learn how some coins are better than others and invest for long term on those coins.
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I don't really understand what you mean, because bitcoin price always fluctuate, one day it will rise and in the next day it could be decline. Depends on your perspective, how much it is to called rise up? Based on today highest price, this week highest price or last ATH? The answer will be different obviously. After all, no one really knows when it will increase or decrease against USD.
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OK, let's assume after August 1 this happens and we will have both coins.
I have 2 questions please:
1. Which one do you think will preserve the higher value?
2. Are you going to invest into the one with lower value then switch back for extra returns?
My answers:
1. Bitcoin
2. I'd buy some Bitcoin Classic only to exchange it into Bitcoin again later
Thanks!
I believe BTC will preserve a higher value over BTCC/BTU due to Segwit having more supporters by a good amount (I think). But I'm kinda thinking that it will be a bit close in the start, like 60-40 in ratio. 2. This is quite a difficult decision for me. If the price ratio would be like 80:20, then I would go with the higher for sure. If the ratio is close? Not sure yet. Based on the name ; bitcoin of course. But, there are some things to consider such as, which one is supported by majority and has the highest price will get more attention from traders and investors obviously. So, it is clear to keep both of it but prefer to the best one |
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