This is the best solution that been expected by many parties so far, in my opinion the current economic law is old-fashioned and indeed needs to be adapted to the current economic conditions that have been advanced and widely digitized. I believe the revision of the law will benefit many parties including policy makers such as the government and the state not only for user and the bank.
This, of course, is a very good solution and very useful for cryptocurrency in general. However, do not assume that a decentralized cryptocurrency will crowd out ordinary currency. Cryptocurrency will be one of many means of payment, and its place will depend on the degree of its usefulness to people. Moreover, a decentralized cryptocurrency has yet to withstand fierce competition with stable state coins. Each species has its advantages and disadvantages. Moreover, stable coins will have the authority of states. However, cryptocurrency can develop and increase liquidity only through cooperation with the usual currencies of states. |
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There are a lot of ways to avoid strong inflation during the next global financial crisis. This is not just a purchase of gold or bitcoins. It can be land, houses and other real estate, antiques, jewelry and much more. Among these measures, buying bitcoin is probably not the best solution because of its high price volatility. Yes, for these ten years, bitcoin can be considered to be constantly growing in price. However, there is no certainty that this will continue to happen. But what if it drops in price to the level of the rest of the cryptocurrency? Therefore, you need to use several options for protection against inflation at once and Bitcoin can be one of them.
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No one can make any claims against Satoshi Nakamoto, because he did not steal his invention from anyone. Before him, no one had fully developed cryptocurrency in the same form. There were separate developments, Nakamoto synthesized them, developed and turned out the current cryptocurrency. Since Nakamoto has done a lot in this area, he should rightfully be considered the creator of the cryptocurrency. In addition, he did it completely disinterestedly, since he did not receive a patent for his invention and even hides his true identity. Many may have some guesses and half-hearted solutions, but the inventor is the one who produced the finished product.
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Yes, the government of India is at a crossroads. On the one hand, they do not want to recognize a decentralized cryptocurrency, and on the other, they understand that they can lag behind other countries in development. This is what makes the Indian government consider issuing its nationally stable coin. If such a coin is issued, then gradually an ordinary decentralized cryptocurrency will go there. So in general, the appearance of stable coins of various states is very good for cryptocurrency.
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It seems to me that over time, banks will simply work directly with cryptocurrency. Already today, many banks practice this. Depends on regulators. The faster cryptocurrencies approve, the faster banks will be able to process cryptocurrencies.
Of course, states cannot do without banks, so nothing will happen to them. They will work calmly as they worked before this time. Banks are already using blockchain technology in the form of a ripple network. Cooperation between banks and a decentralized cryptocurrency should be in any case and it is more profitable for cryptocurrency than banks. |
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Now the volume of turnover of electronic money is growing, which are the same national currencies of states. Cash turnover will decrease over time, but it will not disappear at all. In general, national money in the form of electronic and cash will exist as long as the state exists. National money of states is an invariable attribute of the existence of each state. Without them, the economy of states will fall apart.
States will continue to actively use stable coins, which will represent all the same digitized currency of the states.
A decentralized cryptocurrency will simply occupy its niche as another type of many means of payment. It will not have a dominant role among other means of payment. A decentralized cryptocurrency can go in society only along with the national money of states. Everything else is just pure fantasy.
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Bitcoin is designed to be more scarce every single day while the population is almost required to increase its demand. Why? Because people will have to sell their failed fiduciary currencies per Bitcoin. The current financial system failed already and people will realize that Bitcoin is the only system to reset everything. Governments will try to create their centralized cryptocurrencies that will fail like the fiat due to hacks and the fact that people will prefer to use Bitcoin. Bitcoin is a blackhole that is swallowing every single fiat bill. 10 million dollars per coin is probably too conservative. People who dont own Bitcoin now will have to own in it later. Those who are acummulating BTC right now will be the richest people in the world. Bitcoin should hit that price in the next 10 years and there is nothing that could stop it.
The way I see it now, Bitcoin will exist alongside fiat and will probably be regulated. Bitcoin is impossible to regulate my friend. Banks, central banks and governments are doomed. They would go bankrupt even trying it. There will be a point in time where everybody will realize that Bitcoin is a blackhole that is everywhere and cannot possibly be stopped. Fiat will disappear because it will be worth nothing against Bitcoin. Everybody will HAVE TO use Bitcoin. This is all just phantasies. I think that bitcoin will never rise in price above $ 50,000. The demand for bitcoin will grow, however, it still will not be able to lead to such a high price. Also, banks and national money of states will not disappear anywhere. They are under the powerful protection of the state, and a decentralized cryptocurrency does not represent a danger to them. |
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Right now there are really no good earnings as bounty hunters. Some of us are still trying to find good and promising ICO projects in order to earn at least something, but this is becoming increasingly difficult. The few ICO teams that are now trying to raise funds are still in many cases trying to trick us, using the KYC checks to do this, so as not to pay us the earned tokens. Most likely, many bounty hunters have already taken a break from this work or even left this type of earnings. In my opinion, the adoption of such a decision will largely depend on the availability of free time and the state of the cryptocurrency market in the next few months.
In addition, the expected state regulation of cryptocurrency and ICO projects can bring positive changes for bounty hunters.
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China has contributed much to the crypto market fluctuations that occurred, when the ban on bitcoin exchangers, bitcoin prices began to fall. Continued with news of the adoption of the rising market blockchain. From this incident many perceptions arising from users, especially about the reasons China did it all.
However, recently we see that Bitcoin is not as active as in 2017, it is responding to various news information. Recent events in China are generally not significant. The Chinese government has previously fully supported and implemented blockchain technology, so nothing, in principle, has changed. This news is not even directly related to cryptocurrency. Therefore, I do not think that the latest news from China has affected the rise in the price of bitcoin and the entire cryptocurrency. The reason for the growth is probably different or the growth is generally caused by a number of random factors. |
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So I was wandering around on youtube and I came across this video( https://www.youtube.com/watch?v=Lw7M7QamQgI ). I realized that the ideas behind the creation of Libra Coin by Zuckerberg are very similar to that of Bitcoin, which I felt that he is just being smart to launch a crypto coin like Bitcoin. But do you guys think He needs the approval from these people before launching the Libra Coin? Personally, I don't think these people understood what he is trying to develop. This video really explains why Satoshi decided to remain anonymous. Satoshi knew that these people will never understand his ideas and contradict the development of Bitcoin. Facebook is a market listed company. So the ownership of Facebook doesn't really belongs to Zuckerberg. Everything they do, they have to answer to their shareholders. So they are just doing what they are expected to do - seeking licenses to conduct their business and trying to be fully compliant! Facing hurdles in the process! On the other hand, Satoshi didn't have any such compulsions! So even if the vision is same - to create a global currency, the operating structure is really very different for Bitcoin and Libra both! It will be utter stupidity if we try to compare Bitcoin and Libra! Facebook is a company created businesses by individuals and for the purpose of profit. Therefore, I am categorically against the idea that a global stable coin should be created by a separate business structure, and not by a state or a group of states. Can you imagine if such a coin is used everywhere and serious financial problems arise with Facebook? There will be a threat to global financial stability and the state will be forced to financially support the business structure. Who needs this? Such a stable coin cannot be compared with Bitcoin in general, where business ideas were not present at all. |
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Blockchain is a digital technology that allows you to safely store and use large databases with various information using the Internet on-line. Based on the fact that it is absolutely safe to store and use such information with the possibility of public access to it, very good prospects open for using this information technology in various areas of our lives.
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Governments, even purely theorists, cannot support bitcoin instead of their national currency. The economy of each state can work only on the basis of national money. A decentralized cryptocurrency has nothing to do with the economy of any country and therefore cannot serve it. Therefore, purely from a practical side, no state will ever switch to using only a decentralized cryptocurrency.
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I just can’t understand. Previously, there was information that the People's Bank of China, using commercial banks, plans to launch the CBDC national stable coin, which has also been developed for about five years. Is it the same coin or not? Apparently, we are talking about the same stable coin, but for some reason with a different name.
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What if all those big corporates and businesses starts using crypto as a mode of payment just to avoid tax which will cause a direct loss to the government which uses tax for the betterment of the country. This might not affect corrupt countries as it doesn't matter because tax money goes to politician's coffers but what about developed nations?
Firstly, large corporations and generally all business structures are unlikely to use cryptocurrencies with a high level of price volatility. A particularly decentralized cryptocurrency is not suitable for those business structures that use transactions that are long in time from the moment of agreement to the completion of the transaction. If during this time the cryptocurrency price changes, one of the parties will suffer losses. Roulette is not a business game. Secondly, we must pay taxes on activities in cryptocurrency. Only with this approach will states legalize cryptocurrency and create infrastructure for its development. Also, cryptocurrency should go in parallel with national money and integrate into a single financial system. Only in this case will it benefit the state economy and will contribute to its development. |
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After the ICO, projects need to change the approach to the work of their tokens. Investors need to be interested in holding tokens. Now everything is actually built for a quick sale, while the price of the token has not yet completely fallen. I mean the provision of passive income or at least a mandatory redemption by the team of their tokens at some average or minimum price. Investors should have at least some guarantee of return on investment. Then the token will not depreciate so quickly.
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The population of Asia is very actively interested in cryptocurrency. Many cryptocurrency exchanges are concentrated there now, the volume of cryptocurrency trading in this region is growing rapidly. Therefore, Asia has actually become one of the leaders in introducing cryptocurrency into our global financial system. China is also moving slowly in this direction. Although they are looking for their own path to cryptocurrency, however, this large state cannot do without integration with the rest of the world.
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With so many good altcoins around, do you think Bitcoin can cross $50k by Dec 2020?
In my opinion, Bitcoin will not cross the price of $ 50,000, not only in a year, by December 2020, but also in five years. Not only do I see no reason for such growth, I do not think that any cryptocurrency should, in principle, have such a high price. And the owners of Bitcoin themselves will not allow it to grow freely to such price values. They will bring down the price by selling their bitcoins. |
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Worried about disturbing and negative events. The growth of bitcoin in the price causes a logical interest about the possible reasons for such growth. But we don’t see any obvious reasons. A statement by the Chinese president to support blockchain technology cannot be a real reason for the rise in the price of bitcoin, since the Chinese government has previously fully recognized this technology and widely implemented it in practice.
However, it is important that the price of bitcoin began to rise. Let Bitcoin continue to rise in price for no apparent reason.
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Bitcoin was not created in order to replace gold with itself and does not have such an opportunity for this. These are completely different, with almost incomparable financial assets. I do not even consider bitcoin as digital gold. It is also not suitable as a means of preserving value, since it has very high price volatility. And he will never grow in price forever.
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