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Had confessed to confused with one of these digital currencies, Alibaba CEO Jack Ma now decided to be in anti-Bitcoin camp.
Quoted from the South China Morning Post, Tuesday (5/22/2018), at the World Intelligence Congress in Tianjin, China, Jack Ma revealed there is a gap owned by Bitcoin.
"There are bubbles on Bitcoin, but not bubbles in blockchain technology," he said.
Bubbles, is a term in economics that refers to the trading activity of an asset in a large volume so that its price range goes far beyond its intrinsic value. According to Jack Ma, Bitcoin experienced that.
Although his attitude seemed anti with the cryptocurrency, but he did not turn a blind eye to the technology that runs all transactions using Bitcoin, the blockchain. Personally, he admits that he is quite confident in this technology.
The man whose real name is Ma Yun also said that blockchain is a solution to security and privacy, especially in internet-based finance that processes trillions of trillions of trades. Even so, he does not agree if this technology is applied to run Bitcoin for money.
"Social networks may not need blockchain, but we still have to switch to it, because otherwise it would be fatal," he said.
In line with the thinking of Jack Ma, Alibaba has been doing research on technology that functions like the ledger in recent years.
In fact, the e-commerce giant is also ranked first in the patent application against global application blockchain in 2017.
Over the past year, Alibaba has listed 43 blockchain application patents, with Bank of America being the closest competitor through 33 patents. The figures are based on data from IPRdaily, the provider of information on intellectual property.
In addition to Alibaba, a number of companies from other Bamboo Curtain countries have also implemented blockchain technology in various sectors. They are Xiaomi with blockchain based game titled Jiamitu, Cainiao who applies the technology in logistics delivery, Ofo through a blockchain research agency, as well as one of Mobike's business units.
Blockchain fever was not only penetrated into companies that have been said large, a number of startups that move in that field was also quite a lot. It can be seen from 41% of the total funding of startup focused on the pilot company engaged in the field associated with blockchain.
"Blockchain is a hot topic of conversation right now, but not all companies can implement this technology.Too many people are selling blockchain-based products, this is my concern," concluded Jack Ma.
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For those who invest Bitcoin should be vigilant. One of the most popular digital currencies in the world, it is still a prima donna perpetrators of cyber crime around the world.
Anti-Phishing Working Group (APWG), an international set of companies to counter phishing attacks, reported that there had been a $ 1.2 billion (Rp 16.9 trillion) worth of cryptocurrency theft last year.
The rising popularity of Bitcoin and accompanied by the circulation of more than 1,500 other digital currencies triggered the high crime in the sector that has not yet had the regulation.
Dave Jevans, Chairman of the APWG, said that of the total nominal is only 20% or it could be lower that successfully handled by law enforcement around the world. According to him, the incision could be worse as a result of the EU decision to start running General Data Protection Regulation (GDPR).
"GDPR will adversely affect Internet security as a whole and at the same time assist cybercriminals By tightening access to information, the new law will prevent investigations of cyber crime, theft of cryptocurrency, phishing, ransomware, malware, fraud and cryptojacking, "he said.
GDPR itself is a rule to simplify and consolidate regulations that companies must follow to keep their data protected as well as to exercise control over personal information belonging to people in the EU region. Implementation of GDPR means that the majority of European data domains will not be published publicly after May 25th.
According to Jevans, the data is a key source of information for investigators and law enforcement agencies to anticipate theft, especially in the online world. Data such as names, addresses, and emails are themselves stored in a database called WHOIS.
"So, we'll see all the bad guys go to Europe because they can access the whole world from there and there's no way to get information about them," Jevans said, as quoted by Reuters on Sunday (5/27/2018).
Not only the theft, the name Bitcoin was dragged in a case under investigation by the United States Department of Justice. Investigations are being conducted by the government agency on the alleged players in the world of digital currencies to manipulate the value of Bitcoin and other cryptocurrencies.
The investigation will investigate the truth of the practice that may affect the price of digital currencies such as the manipulation of orders in the market in large quantities, thus attracting people to transact on related platforms.
Others in the US, another in South Africa. Authorities in the country that had organized the World Cup in 2010 is investigating a scam that deceives investors with a total value of up to USD 80 million. The lure of big profits into the mode used by the swindlers.
The investigation led to a company called BTC Global, which promises its clients to get 2% profit every day, 14% every week, and 50% every month. Service from the company was rumored to have been blocked.
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Cryptocurrency is considered to feel a bad effect if the greater the number of people who use it. This was revealed by the Bank of International Settlements (BIS), a financial institution headquartered in Basel, Switzerland.
Amid the rise of digital currency, BIS gave warning because they thought that virtual currency does not have the ability to meet the demand. It has the potential to lose trust and efficiency.
The institution added that any form of money operating in a large system must be reliable to keep its value stable. In addition, trust must also be gained in looking at its ability to meet demand efficiently, as written BIS in its annual report.
BIS also writes that beliefs can disappear instantly because of the vulnerability of decentralized networks that are the cornerstone of cryptocurrency. In addition to vulnerability, the network, known as blockchain technology, is also seen as potentially hoarding transactions if the number of its users is growing.
This hoarding refers to the ability of one of the most famous cryptocurrencies, namely Bitcoin, which is only capable of completing at most seven transactions per second to date. The limitations are expected to make confidence in the virtual currency disappear.
"The belief in cryptocurrency can evaporate at any time because of the vulnerability of the decentralized system that underlies every recorded transaction," BIS writes.
"This not only raises a question mark on its ability as a payment method, but it can also make cryptocurrency stop operating as a tail of its value that can continue to fall," he added.
The statement was supported with one opinion from Head of Research BIS, Hyun Song Shin. According to him, many people who keep cryptocurrency purely because of mere speculation.
In addition, according to the financial institution, the dependence of virtual currency owners and cryptocurrency miners in recording and guaranteeing every transaction is also considered a drawback. That's because the activity requires too much energy whose value is not cheap.
"Bitcoin is a combination of bubbles and natural disasters," said Agustin Carstens, General Manager of BIS, trying to describe the cryptocurrency, as quoted by Reuters on Wednesday (20/06/2018).
BIS party has also asked the central bank in some countries to think carefully, especially the risk that can be generated, if you want to publish its own cryptocurrency. Until now, indeed there is no central bank that does it.
In addition, BIS also mentioned that regulation of digital coins on a global scale is needed. This is because a number of financial institutions and other private companies already offer services related to cryptocurrency
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One of the founders of Apple, Steve Wozniak, said that he agreed with what had been revealed by Jack Dorsey, CEO of Twitter, about Bitcoin not long ago. At that time, Dorsey believed that Bitcoin would be the single currency in the world, and Wozniak also wanted it to happen.
"I agree with what Jack Dorsey said without needing to hope that it will happen, but because I want it to come true, it is a very pure thought," he said, as quoted by CNBC, Tuesday (5/6/2018).
"Bitcoin can be mathematically defined, there is a definite quantity, there is how it is distributed, it is very pure and there is no human behind it, no company runs it, it just keeps growing, growing and trying to survive," he added.
Wozniak himself had bought the most popular cryptocurrency when the price was still equivalent to USD 700 per chip, or USD 6,700 cheaper when compared to its value now referring to data from Coindesk. Even so, Wozniak is not interested in becoming a Bitcoin investor.
He also has sold all of his Bitcoin assets with only one chip left. The man who is often referred to as The Woz said he only wanted to do experiments on the technology.
In addition to having a piece of Bitcoin, the man who founded Apple with Steve Jobs in 1976 also has two Ethereum. Both Wozniak's cryptocureency is the owner of the largest market capitalization among other digital currencies. Bitcoin's market capitalization is almost touching USD 127 billion, while Ethereum is at USD 58 billion.
In addition to these two virtual currencies, there are more than 1,000 cryptocurrencies circulating in the world. Even so, Wozniak says Bitcoin is the only natural because it has aspects that make it a status, one of which has been decentralized.
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The development of digital currencies such as Bitcoin increasingly widespread makes the publishers began to target the market with the majority of the Muslim population seriously.
Stellar, a blockchain-based platform, has just received certification that makes its published cryptocurrency judged to be in compliance with the Islamic Shari'a.
Lumens (XLM), thus the name of the digital currency owned by the platform from San Francisco, United States. Currently, Lumens is the seventh largest cryptocurrency in the world.
Based on data from CoinMarketCap, its capitalization has now reached USD 5 billion or around Rp 72 trillion.
Until now, Bitcoin is still the most superior digital currency with a capitalization of USD 127.8 billion, or about Rp 1.842 trillion.
The second and third places occupied by Ethereum and Ripple with each capitalization reached USD 51 billion (Rp 736 trillion) and USD 20 billion (Rp 291 trillion).
Lisa Nestor, Stellar's Director of Partnership, said it had held discussions with the Bahrain Economic Development Board, an organization that attracted foreign investments in the country last year. That is what initiated the certification of Islamic law for Stellar.
Is the Shariyah Review Bureau (SRB), the firm that certifies for the blockchain platform. SRB itself has got a license from Bahrain's central bank.
What is your opinion?
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Kalo agan berani dan sudah siap hati alias kesabaran ekstra untuk nyimpen dalam kurun waktu yang cukup lama (long term), saya rasa koin-koin seperti itu sama saja dan cukup direkomendasikan. Karena, rata-rata pergerakan harga juga berimbang dan mengikuti pergerakan bitcoin. Namun, saya lebih menyarankan untuk deposit dan beli bitcoin apalagi jika agan berani modal besar.
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Better to invest some to ICO or other altcoin. Invest into altcoin which is good for day trading. And leave some for hodl, because currently there are signs of bitcoin rising prices. If if the bitcoin price is not rising too high, then you need hodl much longer.
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Di Indonesia, cryptocurrency masih menjadi hal yang tabu dan masih dianggap lebih banyak negatifnya.
Lalu, untuk pertanyaan agan
1. Sebanding, jika kedua belah pihak saling setuju dan saling bisa menjaga agar tidak kena tipu. Layaknya transaksi online biasa, di sini penipuan bisa muncul dari salah satu pihak. Kalau saya sih lebih suka transaksi menggunakan mata uang real semacam rupiah, karena saya suka dana cepat :v terlebih lagi harga bitcoin akhir-akhir ini sedang tidak stabil.
2. Ini sudah banyak yang jawab. Bitcoin dan altcoin masih dianggap tabu dan berbahaya sehingga mulai dilarang di Indonesia.
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Waduh jangan sampek exchange-exchange lain kena hack, apalagi yang ratingnya udah gedhe. Jangan-jangan exchange yang kena hack ini juga pengaruh sama turunnya harga bitcoin disertai altcoin lain.
Kalo dibilang ukah hacker ya kemungkinan besarnya seperti itu, karena dunia digital memang seperti itu, "nothing safe". Tapi kalo ini cuman pura-pura dari pihak exchangernya juga gak tau ya, kayaknya sih gak mungkin.
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If you are looking for a platform-based bounty manager, then I recommend joining bountyhive. They select well the bounty they will manage. They gave strict enough rules so that bounty hunters could not carelessly join. They can also quickly and responsibly solve each problem in managing the troubled bounty.
If you want to join, use this link:
bountyhive.io/r/oyehdhimas
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yes, I guess bountyhive is one of the best and biggest bounty provider platform / website I know. But behind it all, bountyhive has many problems and annoyances with some bounty that they manage. And the average of bounty that they manage a lot of less selling in the time of ICo so that the rewards earned bounty hunter not too big. But, I admit that bountyhive is quite transparent and responsible in managing the existing bounty. Even when there is a problem with their contract, bountyhive quickly and the responsibility is trying to solve it.
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You are quite wrong step. You are wrong to estimate which coins will be sold to profit. Do not be in a hurry in choosing a coin. If you lose now that much, you better hold your coins first. Wait until the price improves.
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The world of crypto is cruel and unpredictable. If you've just hit a scam once and have been disappointed, you better back off, because in the future you may come back to meet the ICO scam not once only once. I have faced several times with scam ICOs, and have faced several times with failed ICOs. In fact, once also follow the bounty of ICO is quite successful, but got kick from the telegram group which joined the telegram group is the general rule.
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