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. |
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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. |
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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. |
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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. |
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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.
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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. |
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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.
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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.
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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.
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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. |
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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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With the world's economy collapsing, people are looking for alternative safe-haven assets to use in times of turmoil. Interest in crypto has sparked a lot ever since the stock market went on a decline. If people decide to use crypto, precious metals, and physical cash, will it be possible to live a normal life without a bank? In my case, I'd be willing to exit the banking system in order to have true sovereignty over my money. After all, that's what crypto is all about. If you could live your normal life without the need to ever interact with a bank (having a bank account to make transactions, etc), it'll be a blast. With the world shifting towards the online realm for e-commerce, virtual meetings, and more, it seems likely that people will be using decentralized money more thoroughly. There are still people using credit/debit cards, but that may change soon as Fiat becomes hyper-inflated. What are your thoughts?  Actually, many people live their lives and never cross the threshold of banks. They did not have bank accounts and did not use loans. However, it should be borne in mind that if we use cash, then we are actually using the services of banks. After all, paper money is issued by the central bank of the state, and I see no reason to refuse it. |
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I can’t even understand how ripple can bypass bitcoin, by what signs. To the level of price or capitalization, ripple can never be compared to Bitcoin. Ripple compares favorably with the speed and low cost of transactions. However, a centralized cryptocurrency cannot be the leader of a decentralized cryptocurrency. This is completely absurd.
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This is the hardest part of the process, if we can handle this, rest should be a lot easier. Also we have to realize that we are moving from proof of work to proof of stake for the second biggest coin in the market
It is a 0x00000000219ab540356cbb839cbe05303d7705fa contract address from Ethereum to collect 32 Ether from 16384 validators required. Until this time (08.00 UTC+7 Nov 15), the amount of Ether collected is around 81k Ether, or this is only about 15% of the target. There is still 15 days to meet the target to trigger eth2 genesis. I think that the probability of hitting the target 524k Eth is very difficult to measure with the remaining time. This could be another support by some people who want to keep using Proof Of Work as the Ethereum blockchain network consensus algorithm. Maybe there will be a slight delay if on December 1, 2020 if the number of validators does not meet the target. And I am more and more curious about it. What do you think will happen if the target is not achieved? If the target for the deposit contract is not achieved, the launch of the zero phase of improvements will be postponed at least until the beginning of January next year. Of course, December 1 is a more convenient time, since by the end of the year we expect to see a good growth rate for Bitcoin and the entire cryptocurrency market. At the same time, the launch of the zero phase would give another impetus to the acceleration of this growth. |
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While impossible to do, the Chinese government has little or no interest in bitcoin. They are finishing testing their digital yuan, creating a legal basis for its circulation, and most likely will take measures to protect it.
It is impossible to seize the bitcoins that are mined on the territory of China by the government. In addition, the Chinese government demonstrates to the whole world that it solves problems in a civilized manner and therefore such gangster methods are excluded in this case.
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Quantum computers are still not as close as you think, so don't think about it now.
In theory and in practice, such a threat still exists. When it becomes reality, it will be too late for many to panic. They will simply be at a loss to consider their empty wallets. However, the first thing to be wary of is the big whales. In this case, they will be the first to be targeted by attackers. Let's hope that by that time they will find how to secure the cryptocurrency from this problem. |
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The YFI token was released in July and in two months, thanks to well-organized hype, has risen in price to unprecedented heights - more than forty-three thousand dollars. On November 5, its price dropped to almost eight thousand dollars, after which its price began to slowly rise and today is 17,737 dollars. However, this token is unlikely to reach the previous price heights.
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In my country, the president does not have the authority to make such decisions. The rules for the circulation of cryptocurrency in society are regulated by the relevant law, which is adopted by the parliament, that is, collectively. In this regard, there is no need to be afraid that some top government official will wake up in the morning in a bad mood and do something to the detriment of public interests.
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Now about 80 percent of states are working on the issue of their national digitized currencies and this must be recognized as a positive moment in the reorganization of the efficiency of the financial system of society. Digital technologies are increasingly penetrating all areas of human life. One of the most significant developments in the field of the emergence of stablecoins of central banks of states is expected to be issued by the Chinese government of the digitized yuan in the near future. This national stablecoin is already completing testing and the country's government is preparing legal documents for its circulation. These documents could have far-reaching implications for the existence of other stablecoins, as the digitized yuan is declared property of China and therefore prohibited from being used by others as collateral for any other stablecoins.
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Bitcoin will replace oil and Gold Sure. Very soon we will melt bitcoin for semi-conductors and jewelry, and will burn it in car engines to move stuff around  Yes, when bitcoin replaces our water and air, then perhaps it will be able to replace our oil and gold. Considering that we will hardly be able to breathe bitcoin and drink it as well, it will also not work to replace gold with it and hang bitcoin for women instead of jewelry. Cryptocurrency is nothing more than an alternative means of payment, which can exist only along with the currency of states and will not replace anything with itself. These are all children's fantasies. |
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