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1342
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Bitcoin / Bitcoin Discussion / Re: Is it true that this cryptocurrency/bitcoin boom poses a threat to Earth.
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on: June 12, 2021, 04:03:15 PM
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I do not think that this is some kind of global problem, however, the problem of using carbohydrate energy in Bitcoin mining has been raised and governments will definitely use it in order to denigrate Bitcoin and other types of cryptocurrencies. Bitcoin consumes any energy that is available in the region, as well as other consumers. If the world as a whole switches to renewable energy sources, then this energy will be consumed by bitcoin. However, in the future, miners need to think about using solar panels or wind generators for mining, the production of which is becoming cheaper.
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1343
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Economy / Economics / Re: Can the world be without poverty
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on: June 11, 2021, 11:20:16 AM
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Poverty primarily means the lack of the necessary material well-being: food, clothing, normal housing, as well as other material wealth and luxury goods. In our world, poverty has been at all times and it seems that this problem will persist for the foreseeable future. We are still at a very low stage in the development of science and technology, the necessary technologies that would provide people with these material benefits. In principle, people are to blame for this themselves, constant wars lead to the destruction of a significant part of material wealth and technology. It remains to be hoped that someday humanity will grow up.
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1344
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Economy / Economics / Re: Central banks around the world want to get into digital currencies
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on: June 11, 2021, 10:57:23 AM
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The way Central Bank Digital Currencies are being researched and developed scares me a bit if I've to be honest. Today we have some financial liberty outposts (cash, cryptos etc.) but if the world is going to switch to fully digital currencies our future wealth is in a big danger. Am I the only concerned?
The digitized currencies of the central banks of states should be regarded as more advanced non-cash forms of means of payment of these states, therefore, like all non-cash forms of payments of states, they will be tightly controlled by central banks and states in general. It could not have been otherwise. What exactly will be their characteristics will already be seen after their release. That is why cash must continue to circulate. They provide at least some lack of continuous financial control of the state over citizens. |
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1345
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Economy / Economics / Re: High prices mean even higher volatility
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on: June 11, 2021, 06:05:41 AM
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I don't fully understand the logic behind there being more volatility at higher prices, in terms of dollar swings then sure but in terms of percentage swings I don't see how the higher price could lead to that? In fact I probably see more of the opposite, higher prices generally will mean more adoption, more adoption means money better spread means less possibilities for manipulation.
An increase in the price of a decentralized cryptocurrency may not be noticeable for an increase in volatility in terms of percentage ratios, but if you just look at the price of a cryptocurrency, which is what most of the participants in this market are interested in, it is very noticeable. With the relatively high current price values of bitcoin, we see that during the day its price can change by several thousand dollars, and very few people even pay attention to this. However, if bitcoin had a price of about ten thousand dollars, then this would be very significant and noticeable. |
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1346
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Bitcoin / Legal / Re: Crypto, taxes and regulations?
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on: June 11, 2021, 05:07:18 AM
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If businesses start to accept it as a form of payment, and people start getting paid with crypto, how are they going to tax it or regulate it?
Various companies, as business structures of various forms of ownership, always report to the tax authorities and I do not see any particular problems for them to tax the receipt of profits in cryptocurrency. Many states have already introduced a tax on activities in the cryptocurrency and there is still no unity here. This is primarily due to the fact that states do not yet have a common opinion regarding the status of the cryptocurrency. Over time, states will develop a more or less unified attitude towards cryptocurrency, but taxation will always be different in them. |
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1347
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Economy / Economics / Re: The Difference Between Staking and Investing
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on: June 10, 2021, 04:28:31 PM
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I think the above two forms are just holding and staking brings more dividends than holding. We should not complicate matters because I believe that as long as it gives good returns, it is the result of the investment.
Distinguishing the concepts will not change the result of seeking profit.
From this point of view, you are right. If we send a promising coin to staking, then at the end of a certain period we will have staking income and at the same time income due to the growth in the price of this cryptocurrency. If we only held this cryptocurrency, we would only have a profit from the growth of its price. However, staking is still relatively small in revenue today. However, this is also not bad if the project will exist for many years. |
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1348
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Bitcoin / Bitcoin Discussion / Re: China's official view of El Salvador
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on: June 10, 2021, 03:53:53 PM
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Wang Yongli, Former Vice President of Bank of China: Countries that lack sovereign currencies will not succeed in using cryptocurrencies as legal tender.
Wang Yongli, former vice president of Bank of China and chief economist of Shenzhen Neptunus Group, pointed out in an interview. Some countries lacking a sovereign currency lack the most basic understanding of currency, and use fully decentralized digital encrypted assets such as Bitcoin as legal tender. The economic and social operations will be severely disrupted due to its own price fluctuations. The country has no means of control and can only go to destruction on its own.
I think his statement is unreasonable.
In the past ten years, China has said that Bitcoin is only used as a personal investment, without large institutions or government endorsements. After large institutions began to invest in Bitcoin, they said that Bitcoin is a Ponzi scheme, a playground for capitalists. When some countries recognized it as legal tender, they used the lack of sovereign currency as an excuse to ignore the facts. I very much look forward to what new excuses the Chinese government will have when more and more sovereign countries in the world use Bitcoin as legal currency.
I am a Chinese, but if the country loses a key strategic opportunity in the era of digital currency pre-emptive due to the nonsense of a certain person, these historical and national sinners will surely be stinking for thousands of years.
These arguments are not groundless and make sense. Any state must accept the country's budget and plan its economic development. In bitcoins, the El Salvadorian government will not be able to do this due to its high price volatility. Or it needs to be done in dollars, or in national currency. However, even issuing salaries and pensions will be difficult, since recalculations will constantly have to be done. It is also impossible to compare the indicators of economic development in different periods in bitcoins, you need to rely on more stable means of payment, and such can only be fiat currency, decentralized cryptocurrency cannot be. In any case, the experience of the El Salvadorian government will be useful for the world community. |
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1349
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Alternate cryptocurrencies / Altcoin Discussion / Re: Does Signature campaign increase ICO credibility? I see few good ICOs recently
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on: June 10, 2021, 06:55:08 AM
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It is hardly worth agreeing that a subscription campaign increases the credibility of a specific ICO project. It's just one of the many advertising tools for this project. However, on the other hand, before joining the subscription campaign, it is in the interests of the participants of this forum to check the prospects of the project and its team. Such joining to some extent may indicate a certain trust in the project, and this can be taken into account by the guests of this forum. It's just a pity that recently, teams to promote their projects more often use advertising on social networks than subscription campaigns.
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1350
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Bitcoin / Bitcoin Discussion / Re: Bitcoin should be taxed
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on: June 10, 2021, 04:59:03 AM
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Any state has the right to tax any activity of citizens that brings them income. Cryptocurrency in this regard cannot be an exception. Therefore, I do not see anything unusual in the fact that profits from cryptocurrency will be taxed. Anything that is taxed is recognized by the state as a legal activity and this is very good for a cryptocurrency, since in this case the state takes it under its protection, including protection by the judicial authorities.
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1351
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Alternate cryptocurrencies / Altcoin Discussion / Re: Will Bitcoin/ETH replace fiat someday?
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on: June 09, 2021, 08:06:48 AM
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Cryptocurrency will never replace the national currency of states as a means of payment. It's not even worth dreaming about. On the one hand, no government will allow this, since planning and economic calculations are possible in hard currency, which does not have the high price volatility inherent in cryptocurrency. On the other hand, cryptocurrency is not designed to replace fiat. It can only circulate in society along with national money as an alternative means of payment to the currently existing payment system of states.
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1352
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Bitcoin / Press / Re: [2021-06-05] El Salvador to make Bitcoin Legal Tender
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on: June 09, 2021, 07:42:32 AM
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The significance of such an event should not be overestimated. Venezuelan President Maduro has also tried to boost his country's economy by using bitcoin as a means of payment. They even began to pay pensions to old women in bitcoins. We do not see any particular result yet. Inflation continues to break records there.
First of all, El Salvador needs to think about introducing a national currency in order to raise the economy. Bitcoin can only help if it walks simultaneously with the national currency, which will support all economic calculations.
In any case, this will be another experience of introducing cryptocurrency into government.
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1353
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Bitcoin / Press / Re: [2021-06-06] Senators Urge Crackdown On Crypto As Ransom Payment After Gas Pipe,
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on: June 09, 2021, 07:13:06 AM
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The issue of further regulation of cryptocurrency by states and their governments will be raised periodically and regularly. It will be a long-term confrontation between cryptocurrency and participants in this market on the one hand, and governments on the other. After every significant case of ransomware using cryptocurrency, there will be similar senators screaming about the need to strengthen its regulation. Such facts should be treated as business as usual.
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1354
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Alternate cryptocurrencies / Altcoin Discussion / Re: 2021-06-09 Concordium aims to end the era of anonymity in crypto industry
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on: June 09, 2021, 06:14:00 AM
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Cryptocurrency is inextricably linked with the anonymity and confidentiality of participants in this market. They are one of its main advantages. People in cryptocurrency are attracted to a large extent by these features of the cryptocurrency market. Therefore, they will always choose a reasonable degree of confidentiality and anonymity. People want to have their own space in the financial sector, where they would feel outside the constant supervision of government agencies. Therefore, I believe that privacy and anonymity in cryptocurrency will remain, despite the desire of governments to change this.
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1355
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: Warning: Cardano can drops to 0.5$ and Ethereum to $800
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on: June 08, 2021, 05:33:00 PM
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We saw what happended in 2017 on the market dip. People say that now is different and now instutions involved and this bs.
We see the last dip 50% and its not even a bear market.
If we hit a bearmarket all the cryptos go down again.
Opinions?
It is likely that such a negative outlook for prices in this market has begun to come true. Bitcoin and all cryptocurrencies have dropped in value again today. The price of bitcoin is already a little over $ 31,000, and ethereum is just over $ 2,300. However, it looks like the price will continue to fall further. That is, the price bottom is still far away. If the ethereum price drops to $ 800, this will practically decrease by another three times, then the bitcoin price similarly can be about $ 10,000. After such a fall, the market can really recover for a very long time. I would like to believe that in the fall, from about the second half of October, we will again see the continuation of the bullish growth of our cryptocurrency. |
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1356
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Economy / Speculation / Re: Bitcoin to 13k. FORECAST
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on: June 08, 2021, 05:04:31 PM
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it encourages the newbies but not the old folks who knew it too well. bear is bear. a 20% dip is already a bear.
I disagree though that a 20% is bearish, January and February alone, we have like 23%-26% drop but we have bounce back and even hit a new all time high. So it's just normal, but a 50% or more is obviously, not the norm, but we have seen multiple times throughout bitcoin's historical logs. As far as the forecast goes, before we hit $13k, there are a lot of support areas that needs to be broken, $20k-$30k, before we go that low. And it couldn't reach that price is there is no FUD or negative news around. However, if we take into account that bitcoin rose above $ 64,000, and now it has a price of just over $ 31,000, then the fall is more than 50 percent. Altcoins, as usual, suffered even more. After today's next fall in prices, they may continue to fall further. However, I don't think the bitcoin price will go down to $ 13,000. If this does happen, in my opinion, it will make it very difficult for the further price growth of bitcoin to new heights. After all, it will not make much sense to invest in bitcoin at high prices, because after that it still falls, although the level of its fall becomes higher compared to the previous fall. |
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1357
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Economy / Speculation / Re: Bitcointalk Market Sentiment Poll 6/8/2021
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on: June 08, 2021, 04:23:16 PM
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i will only go bearish if price drops down to the $20k range and stays there for at least a week otherwise i remain undecided and am mostly buying bitcoin whenever it dips a little touching the bottom repeatedly and wait for the bull run to resume.
After today's fall in prices in the market, including the fall in the price of bitcoin to the current $ 31,391, it is hardly worth hoping for a quick price recovery, and given that it will soon be a month since the cryptocurrency market collapsed, this period cannot be called bullish either. It should be admitted that this period has been bearish for almost a month and it will remain at least until autumn. Summer has come, and during this period, traditionally, business activity in all markets dies out. In the current situation, the price may fall further. Therefore, we take care of our cryptocurrency assets and relax. |
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1358
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Bitcoin / Bitcoin Discussion / Re: Now is the best time to invest in Bitcoin
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on: June 08, 2021, 06:31:50 AM
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The best time to invest in Bitcoin is at the lowest price that will never be seen again. If we will never see below $20k prices again, then any purchase made 7+ months ago was the best at that moment. But now that we're experiencing an almost 50% crash with very weak recovery, it's very debatable whether it's the best time, or if the price will go even lower. Of course you can win big if the bull run resumes tomorrow, but you can also make a suboptimal purchase if the price will keep sinking.
Now the price of bitcoin has dropped to $ 32,764, and there are forecasts that in the near future it will still continue to fall. Therefore, it is better to wait a little with the purchase. Perhaps the bottom is still ahead of us. If the fall in prices continues, then we can assume that this will drag on for the whole summer and we will not see the expected growth of the market at least until the fall. It is most likely that it will be so. |
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1359
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Economy / Speculation / Re: All Crypto in Free-Fall again, BTC retesting 30K then all the way to 10k and bel
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on: June 08, 2021, 06:05:13 AM
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Yes, now the price of bitcoin has dropped to $ 32,764, and ethereum to $ 2,495. Accordingly, other altcoins also fell in price. It is not yet known what caused this fall. Perhaps even the whales have agreed to play short in the market and free themselves from weak hands before the next wave of growth. While it is necessary to observe further events. The rise in prices in the cryptocurrency market will still be. You need to calmly wait out this time.
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1360
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Alternate cryptocurrencies / Altcoin Discussion / Re: Most of your coins are going to be worthless in years.
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on: June 07, 2021, 04:29:16 PM
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Yes, it's possible that in a few years, most of today's cryptocurrencies will be useless badges in our wallets. Therefore, now we need to decide what we want. It is possible to profit from short-term price increases due to the hype for useless cryptocurrencies such as Dogecoin. You can bet on the long-term storage of cryptocurrencies, the demand for which will grow over time. It is quite difficult to identify these types of cryptocurrencies. Over time, we will still have to make our own adjustments to the value of the prospects of cryptocurrencies, because they develop very quickly and what seems to be an unsurpassed masterpiece after a certain time may lose interest in investors.
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