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1961  Economy / Economics / Re: Does China plan to go communist? on: November 24, 2020, 08:43:40 PM
China has been a communist dictatorship for the last 70+ years. They have embraced some capitalist concepts, like private business ownership, but the communist party retains ultimate control over everything.

China tried a more "pure" marxist/leninist version of communism back in 1950s and it didn't quite work out so I don't think they'll move back towards that. There is no plausible reason to abandon the massive economic advantage that the current system has created. More violent suppression of dissent is possible though.
China has long since departed from the principles of socialism and communism.  They seek and develop their own model for building a balanced society.  Of course, there are many mistakes along the way, and at the same time, the Chinese government has succeeded a lot.  Now China has one of the strongest economies and it continues to develop.  They are not afraid to experiment there.  The rapid adoption of blockchain technology and the thoughtful and thorough development of its digitized yuan are examples of this personalized approach.
1962  Alternate cryptocurrencies / Altcoin Discussion / Re: Investing my $2000 to altcoins instead of Bitcoin on: November 24, 2020, 07:17:59 PM
Now there is a huge hype around Ethereum due to the release of Ethereum 2.0 and the price of Ethereum is growing throughout 2020, and therefore I am sure that Ethereum will soon reach the 1k$ mark and possibly even more, but most likely there will be a Ethereum price correction before the 1k$ mark and exactly when there will be a Ethereum price correction then it will be necessary to invest in Ethereum.
Of course, now ethereum is one of the most promising for the price growth of cryptocurrencies.  Given that the zero phase of Ethereum 2.0 will be launched as planned, on December 1, this coin should rise significantly in price even before the new year.  Of course, it is possible to invest in other lesser known altcoins.  Some of them may rise in price even more than Bitcoin or ethereum.  However, such an altcoin is difficult to choose.  There is a lot of risk here.
1963  Alternate cryptocurrencies / Speculation (Altcoins) / Re: ETH to hold now or not? on: November 24, 2020, 06:52:21 PM
Decisive day is in December, if they manage to launch Ethereum 2.0 without any problems,
then the Ethereum price will go up to $ 1000 by the end of the year,
but be careful if some fud comes, you can sell it for $ 600
We already see that the required amount of ethereum for the deposit contract has been collected and the introduction of the zero phase of the Ethereum 2.0 improvements planned for December 1 will occur without delay.  This means that ethereum will continue to rise in value in the near future.  By the end of the year, ethereum is unlikely to be able to climb to $ 1000, but up to $ 800 is quite possible.
1964  Alternate cryptocurrencies / Altcoin Discussion / Re: What do You think about YFI ? on: November 22, 2020, 03:09:57 PM
in my opinion, for the time being, try to hold it first, because the decline experienced will give a warning. I advise not to be tempted by a large popa but at the time the price of parachuting feels abnormal. This is usually done to lure investors to be trapped at a high price, and then lose a very large nominal value. even double what was invested.
always be alert and watch his movements. take the right moment, and execute according to your considerations.
When the YFI token recently began to plummet in price and fell to almost eight thousand dollars, I thought that it would no longer rise significantly in value, and in any case not so quickly.  However, almost immediately it began to grow again and the day before yesterday it almost reached $ 28,000.  Now its price has dropped slightly again, but it looks like this token will still live.  It is interesting to observe now its price movements after it reached the price of more than forty-three thousand dollars quite recently.  Of course, such a price for him again will hardly be achievable.
1965  Alternate cryptocurrencies / Altcoin Discussion / Re: Forget bounties and Airdrops on: November 22, 2020, 02:44:18 PM
Although nowadays it's not that much worth participating in airdrops and bounties, people like me still do it because we do not have choice and this can be done part-time.
Jobs you mentioned need technical background or knowledge. Many bounty hunter do not have that but are good in social media marketing.
I enjoy participating in signature campaigns.  I have a little free time and I am used to spending it with benefit.  New projects always beckon with something new, we always hope that their token will be a pearl and bring good profit.  In most cases, this is not justified, but we hope that this is still to come.  In any case, we remain aware of all significant events in the world of cryptocurrency and it is developing before our eyes.
1966  Alternate cryptocurrencies / Altcoin Discussion / Re: Hello everyone! Do you still have confidence in altcoin? on: November 22, 2020, 06:46:25 AM
In my opinion, any market should not work on trust, but on sober calculation.  Of course, in any business and in any market there is a share of risk, but it must always be minimized.  If you look at altcoins in general, then of course, a certain part of them were and will be useful and promising, and it is they who will develop the cryptocurrency.  There will be many more good new altcoin projects.  In fact, cryptocurrency has just begun to develop.  The most significant discoveries are yet to come.
1967  Alternate cryptocurrencies / Altcoin Discussion / Re: Let's create some Ethereum clones on: November 22, 2020, 06:27:49 AM
Why would I want to clone ethereum? This is why we keep having stupid projects in crypto space today, this will even turn some into scammers themselves, God have messy on crypto space from now on as everyone wants to be a developer, more scam projects incoming
That's for sure.  A cryptocurrency, and even more so an Ethereum clone, needs to be created only for some significant purpose and, in general, in order for the cryptocurrency to develop not quantitatively, but qualitatively.  Otherwise, we will turn Nakamoto's good undertakings into aburd.  Then we wonder why we have so many useless altcoins.
1968  Alternate cryptocurrencies / Altcoin Discussion / Re: Was 2017 the "Golden Year of Crypto"? on: November 22, 2020, 06:15:34 AM
It is unlikely that 2017 should be called the golden year for cryptocurrency.  Most likely, it was a year of good opportunities for participants in the cryptocurrency market.  Judging by what many write about this time, for many it was a year of missed opportunities, since at that time most cryptocurrency holders believed that their tokens would continue to rise in value.  As a result, they fell in price by 90-95 percent, and the majority did not rise after that.  We have learned a lot from the example of 2017-2018.
1969  Economy / Economics / Re: BlackRock’s CIO Says Bitcoin Could Replace Gold on: November 21, 2020, 08:16:42 PM
Quite often we get hear the voice of managers and top level people describing the good with bitcoin and the associated reason. Myself too believe gold will get replaced by bitcoin, and this won't happen soon or in the near future. Bitcoin is something as a currency, whereas the gold is a precious metal that has multiple usage on different purposes starting from jewellery to medical industry.

Gold traded around the globe in comparison to bitcoin and cryptocurrencies is very huge. When bitcoin reaches a growth rate of 500% gold could experience a growth rate not more than 10% which makes it more risk free.
No, Bitcoin and other decentralized cryptocurrencies can never replace gold.  Gold has many useful qualities that make it irreplaceable from the point of view of a means of payment, a measure of value and a store of value.  Therefore, from the depths of centuries and former earthly civilizations, we invariably have information about the use of gold, and not cryptocurrency, although some previous civilizations were even more technologically advanced than ours.
1970  Alternate cryptocurrencies / Altcoin Discussion / Re: Central Bank Digital Currencies - how will they be constructed? on: November 21, 2020, 05:31:52 PM
Its just the digital fiat running on their own blockchain and not much change in terms of the usage because its same like how we are using our online banking system but with closed/centralized blockchain which is going to be under the control of the government and central bank authority of respective country.
Yes you are right.  The digitized currencies of the central banks of the states will actually represent the same currencies of the states, only in digitized form.  The digitized currencies will apparently differ from their pre-existing non-cash payments only in that this digitized currency will be on the blockchain.  I think the emergence of the Chinese digital yuan will bring clarity.  Using the example of its functioning, we will already be guided by how the digitized currencies of the central banks of states will work in practice.
1971  Bitcoin / Legal / Re: Legal or not: Exchange of Bitcoin between a US resident and sanctioned countries on: November 20, 2020, 02:57:56 PM
Based on US Laws is it legal for people residing in the United States to engage in cryptocurrency exchanges with ordinary citizens (like family members) of the countries with US sanctions imposed on them? I could not find a definitive answer to this. I appreciate any responses from folks with legal knowledge (possibly citing legal sources).

Thank you
International sanctions are imposed against the state, legal entities or officials of this state, and not against citizens.  Therefore, I believe that it is completely legal to send payments in cryptocurrency or in ordinary currency to citizens of a country against which US sanctions have been imposed.
1972  Bitcoin / Legal / Re: Bitcoin siezed? Help me understand this on: November 20, 2020, 02:46:17 PM
We all have read about the 1 billion in crypto siezed by the gov. In one article it said that the funds were forefieted but that doesnt make sense. Please can someone explain in detail how bitcoin is siezed. I have read every article about this, googled it, and never seen an explaination on how it is done. Im asking for a technical explaination with facts. Does siezed mean someone was arrested and forced to give them control of a wallet? Or do they have a way to take control of a Wallet, and if the answer is yes, I would like to know how.
Sometimes during the investigation, as a result of searches or other investigative actions, private keys from cryptocurrency wallets are discovered.  These can be paper records or information on a computer.  Or the owner of the cryptocurrency, as a result of various agreements, voluntarily issues private keys to pay off material damage.  These are the main ways how the private keys from wallets go to the investigation and then to the court, as a result of which the court decides on their confiscation.  If the investigation and the court only know the public address of the wallet, or a public transaction is known, they will not do anything with this information.
1973  Bitcoin / Legal / Re: Pakistan has started work on legalizing bitcoin and other cryptocurrencies on: November 20, 2020, 08:14:32 AM
If Pakistan legalizes bitcoin I think it will be better for their citizens. Hopefully, they will influence their neighbors especially India with a swaying favors when it comes to bitcoin. Although politically they are not inclined this will help in making them have similarities where they both agree on.
Of course, the decision to legalize cryptocurrency in Pakistan will greatly influence the government of neighboring India on this issue.  Pakistan has always been on the list of states where cryptocurrency was completely banned.  However, times are changing.  The Pakistani government sees all significant world states taking steps to legalize cryptocurrencies and move towards issuing their digitized central bank currencies.  Nobody wants to remain on the sidelines of technical and especially financial progress.  You can be sure that after such a decision, the Indian government will soften its position on the cryptocurrency.
1974  Bitcoin / Press / Re: [2020-11-16] $2.3 billion in BTC was withdrawn from exchanges in a month on: November 20, 2020, 07:50:06 AM
This is very encouraging information.  Cryptocurrency market participants no longer expect a situation when it will be necessary to sell their bitcoins very quickly.  This indicates that they are moving into a long-term retention regime in anticipation of significant price growth.  So far, everything is going very optimistic for the continuation of the bull market.
1975  Bitcoin / Bitcoin Discussion / Re: Will bitcoin co-exist with the current financial system on: November 19, 2020, 08:53:34 PM
Bitcoin is a completely different payment system, and is not dependent on banks. You might as well say will bicycles coexist with cars when/if electric cars replace petrol cars
While bicycles have always coexisted with cars.  Also, bitcoin must coexist with the currency of states.  Bitcoin needs to walk on the territory of different states.  It will be much better if it is legalized by states.  Then its infrastructure will be able to develop and bitcoin will expand its liquidity as a means of payment.
1976  Bitcoin / Bitcoin Discussion / Re: Psychology "extreme greed" enveloped the market when the price of bitcoin exceed on: November 19, 2020, 08:31:55 PM
Now there is a very favorable situation for the further price growth of bitcoin and the cryptocurrency market in general.  Bitcoin has already risen in price above $ 18,000.  He is able to overcome the remaining two thousand dollars in a few days, that is, even before the beginning of December.  This is in theory.  Nobody knows how it will be in practice.  Bitcoin is capable of bringing any unexpected surprises.
1977  Alternate cryptocurrencies / Altcoin Discussion / Re: Zcash: Halving Is Coming on: November 18, 2020, 06:21:50 AM
Today there should be a halving of the reward to miners for each new mined ZCash block.  This will happen for the first time since, as a fork of Bitcoin that emerged in the fall of 2016, ZCash has only passed the first four years of its journey.  However, in recent days, the price of this coin continues to stand at $ 65.  Cryptocurrency market participants are not sure that this event could lead to a sharp increase in its price, following the example of bitcoin.
1978  Alternate cryptocurrencies / Altcoin Discussion / Re: Which coin do you think will become next Ethereum? on: November 18, 2020, 06:06:41 AM
While the ethereum coin has not reached its peak of development and continues to develop, it is still too early to discuss the question of which cryptocurrency can replace it.  I want to first see what ethereum will look like after the implementation of the Ethereum 2.0 improvements, especially after solving the issue with its scalability.  Now more and more coins are switching to the ethereum platform and this is a clear evidence of its popularity.
1979  Economy / Economics / Re: How long will it take banks to phase out physical cash completely? on: November 17, 2020, 09:51:36 PM
It seems to me that the following question needs to be answered here - is it possible to live without currency in cash?  The answer is "Yes".  
In a big city, you can pay with bank cards without using cash.  Useless things disappear from circulation after about 5 years.  In fact, a huge number of things have disappeared lately.  Pagers, men's suits, men's ties, players, etc.  These things disappeared because people did not use them.  The same will happen with cash.  Covid-19 has only accelerated these processes.  
I think that by 2025 there will be no more cash in the world.
Too bold a statement. Unfortunately, our home planet has a huge size and not all the population is concentrated in large cities, where you can really safely do without paper cash. Although I would also like to see how you will survive if banks block your cards due to force majeure. There are many places on Earth where the modern payment infrastructure has not reached, and the economic level of development of different countries is also different, so we can't talk about no more cash in 2025.
Indeed, it is good to live in a big city, to have an apartment with all the conveniences and to argue that it turns out that you can do without cash.  Now I live in a big city, however, sometimes situations arise here where it is convenient and much faster to pay with cash.  A significant part of the rural population cannot do without them at all.  If they are removed, they will again be forced to switch to barter transactions.  No, we will still use cash for the foreseeable future.  And I don't see any reason to refuse them.  Those who do not want to use them, let them not use them.  This is his right, and it is not worth taking away the same right to use them from others.
1980  Economy / Economics / Re: You want to get rich, don’t pay taxes, don’t get married, don’t use bank, and... on: November 17, 2020, 09:24:18 PM
No, I don't want such a life: to beware of everything, to be afraid that you might lose an extra cent, not to live almost fully, to accumulate wealth and take it with you to the grave.  Indeed, with such a lifestyle, there will be no heirs to pass on to them what he has accumulated throughout his life.  What is the meaning and beauty of such a life?  No, I want to work, pay taxes, sleep well, sin in moderation and leave this life, having experienced everything in this life.
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