If you look at it as Currency, it is difficult for an average person to understand it because it is different.
Bitcoin, being a different kind of a digital currency, it breaks down conventional thinking in many aspects. No central regulatory body. The concept of mining. The open-ledger (blockchain), the way miners are rewarded, how transporting value is determined by its packet size and not value, the hash rate, the concept of limited supply. The 100 Million pennies in a Bitcoin, etc.
Its difficult enough for people in the money space to thoroughly understand Bitcoin (we all say we understand it, but do we really?).
For a common person, its an overkill. Its like trying to explain the concept of TCP/IP, Networking, Routing, the Internet for someone who wants to use email. Overkill.
It's hard to understand because of the concept and the idea of per to per transaction providing proof of work to generate bitcoins as reward thus it's called Bitcoin minning. The gretaer the number of computer's envolved the better the proof or the blockchain. |
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Yes, a friend of mine told me to invest on it because it provides good services and many people trust the project.
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We still need government to govern and implement the law. It's basic, but for the banks we can live without them. Though bitcoin and taxation still has a long way to go in terms of technicalities and legalities; I believe that someday crypto currency can be a means of buying properties straight from your online wallet in the future. Some countries are aleady embracing Bitcoin. It may take some time other countries to follow through.
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If that's even his name. Just read the bitcoin wiki on him and I'm amazed. Nobody knows him.
Long time passed since he last posted in here. Why? "Busy"? I don't think so. He was active when bitcoin needed support but since the slashdot...
Also, it seems has knowledge in many areas, especially economy. He doesn't act like the average human. Not taking advantage out of his creation, leaving without telling anything. Is he even a single person or a group?
How can someone create something so great and not stepping out to get the credit?
No one really knows who he is and what he does and where he came from. It is also posible that he can be a group of people or even an organization. I wonder when and how will the public an really know who Satoshi Nakamoto really is. |
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Nice idea, but I don't really catch the point...
I do have an android phone now, and I can use Mycelium on it, which is a bitcoin wallet. It can be used as a hot wallet (storing a small amount of bitcoin in that wallet) and as a cold wallet as well, because I can attach a Trezor or a Ledger Nano S to the android phone and Mycelium can handle both hardware (cold) wallets.
So it's already possible to do all these things which is written in the article. My only idea is that they don't really want to use bitcoin as the currency on the blockchain, but they want to set up their own currency and 'force' people to use it instead of bitcoin, which is a really smart move from them.
I'm interested in the outcome of this...
I agree with you mate. I think online wallets are okay, what if your phones stolen or damaged? How are they going to back that up when your wallet is the phone itself? If they have a backup that means they have to create another storage for that? I think it is not necessary to use your mobile phone as an alternative wallet. |
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I found this expression on the news channel about the crypto currency: "Anyone who will try to buy coffee for cash in 2023, runs the risk of causing laughter from the seller, that he does not use crypto currency."
how do you think, is it realistic? Can a crypto currency replace national money?
I think that it's possible, but it will take more time.
I dont think it can be anytime soon. But I still prefer using the National Currency since it is the legit tender. You eaen in BTC and convert to your national currenncy, that would be beneficial. |
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What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.
Well, we will have to go back why Bitcoin was created. The concept of decentralization would be invalidated if we tax Bitcoin. It would contradict the very core of Bitcoin which is to be away from taxes and government policies. |
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Before this time, almost Korean investors really worried about new tax policy for cryptocurrency. That's why all news said the government will apply 3~40%taxes for crypto at Jul~Aug. But today, the government said we will apply 10~15%taxes for crypto like interest income tax, and it is very acceptable to all Korean investors. Also they said we feel hard to say it will happen within this year and although will happen this year, there will be 1~2years stay period. http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&oid=023&aid=0003382087&sid1=001&lfrom=kakaoIn conclusion, Crypto is accepted by government's legal property, SO MANY KOREAN INVESTORS WILL GET INTO MARKET AGAIN! it's good but It contradicts the exiatense of Bitcoin, Bitcoin was created to be tax free and away from government or any central agency. That's the price of integrating it with governmwnt policies. |
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Because it cant be controlled or can be monitored by the Government. No taxes can be collected in the blockchain that's why it is veru difficult to see it as a separate currency in the "Real World". Only a very few people view Bitcoin as a source of income, some people think it's just a virtual money with no real value at all.
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In this thread, I would like to share tips that help me make money on the bounty!1. Create a separate telegram for bounty. I recommend using the Teleplus application. There you can split chats, publics, private messages and bots. You do not confused in a lot of information. 2. Participate in the signature campaigns of Amazix (reports are counted as messages). They are quite profitable even for Jr.Member status. 3. Keep the table in Google Docs. So you can participate in more campaigns. I use the following values: the name of the Bounty, start date, the end, what to do, the link to the report and the table with the results. If you create content, then the table can consist of the following values: the name of the bounty, date to send, link to the video / article, date of sending, link to the spreadsheet. Also, if desired, you can add a number in the spreadsheet, how many stakes / tokens were received and what was the price of the ICO. 4. Participate in unpopular bounty. Go to hell Twitter and Facebook! You give LinkedIn, SteemIt, Reddit. The less people – more profit! 5. Do not forget about the projects. Participate in the bounty after the ICO. For example, INS Ecosystem and Pumapay started post-bounty program with good rewards. 6. If you recently registered on the forum, then when registering in the bounty, indicate a greater number of subscribers. During the time of campaign is going to get to the right amount. 7. Where see the release of tokens to exchanges? I can advise 3 publics in Telegram that publish updates to the tokens on exchanges: @coin_listing @newcoins @coin_pulse_listing Possible listings published in @CryptoExchangeListing 8. Telegram Bot for track input and output coins @ETHtokenExplorer_bot As soon as the coin come to your wallet the bot will send you a notification. 9. Transactions, price, Gwei – you can find this in ethgasstation.info Also for tracking transactions it is convenient to use the sites ethplorer.io and etherscan.io 10. The coin listed in exchange. Where watch the cost, price changes? For portfolio management I can advise the following applications: Blockfolio, Delta, Tabtrader. Write your tips / lifehacks that help you in the bounty 
Wish big profits! Thanks for the tips. Specially number 10, will google through the sites you've mentioned to see it for myself. Good Job Sir! |
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With so many new cryptos coming out, what are your tips and tricks to find them?
No tricks. Just research and read about the project. Know the people who are leading it and what products or services they are offering to the crypto market. And most of all you have to experience it, not all ICO's are successful. So you have to go through the ride and keep reading forums in bitcointalk.org. |
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With the wide array of altcoins available in the crypto market, how do you choose which one to invest on, which one to buy and which of these altcoins worth holding?
Choose what's most commonly used and known.. That's the one that will most likely yo survive and strive in the crypto world. |
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I see many Websites that provide ratings for ongoing ICOs or for the future. Examples such as the ICObench.com Website, ICOrating.com and others.
Which is my question whether you believe in the rating provided by the website. Seeing many ICO's do not match what they value. Many ICOs are arguably good ratings but when the token sales of the project only reach softcap. And there are projects that I see have a fairly mediocre rating but their token sales reach hardcap. I took the example of Lalaworld on ICObench.com they get Rating 3.7 but their token is sold out.
So let's discuss ICO Rating!
It depends on who's doing the review and the rating. A friend of line told me not to trust ratings immiediately because it may not be true at all. So it's better to research and read more on the trusted companies that provide reviews for ICO's. |
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The real problem of bitcoin price decline is that more of 50% of cryptocurrency community are most of them ignorant and lazy people , they just follow rumors , they never get news from trusted source , never do research and this what create this panic Sales on the market and this bloody bath that you see right now , they heard about bad news from India so they start selling and never try to understand what was the news and what is really going on , and did this affects on bitcoin or not , I am sick and tired of those kind of people .
If you don't believe in bitcoin just walk away , we don't need you in our community .
i think it goes beyond that. It's more on the fake ICO's that keep people from trusting Bitcoin. It is already a given that many people will just buy and hold bitcoin till it's ripe and know nothing about the blockchain. |
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I am wondering if there's a huge probability of bitcoin investing will become a company's focus. Like making a company that specializes investing of bitcoins Any thoughts? That's what ICO's and campaignes are for. To promote crypto currency business,.products and other online services. And you can find it all here in this forum. |
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It is needful to say that before the completion of a magnificent building, it starts from the foundation, therefore, to excel as a crypto enthusiast you must start from the foundation, which is through the acquisition of knowledge.
I will not deny the fact that learning is a continuous process, but whoever is coming newly into crypto, should try as much as possible to learn first the rudiments before venturing into any aspect of crypo in order to avoid making costly mistakes.
What you already know cannot be taken away from you...
So, start from the foundation today and get the best from the crypto space.
Yes indeed. Many people still dont know the What and How's to Bitcoin. Knowledge is indeed the foundation for trading, mining and even reseaeching for new methods to exploit crypto currency. |
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This news is slowly coming out but over half the Bitcoin miners are Chinese entities!
What would happen if the Chinese Govt took the mining over from the entities: It is a scary possibility and i was made aware of it on a you tube channel that has 200,000 subscribers!
Well, for sure it's price will fall specially knowing China's population right now. And Bitcoin will loose it's significance if it is being controlled or govern by any Nation. Bitcoin should always remain discreet and away from taxes. |
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Noone can tell you that.
Everyone is spending their time and energy to get the best bounty.
also it depends on various factors , how many stakes they give to your rank in respect to higher rank
Yes, also it really depends if the campaign is successful or not. All you just do do your part in making that project a success. And also, study the product and the services they offer. This signature I'm wearing is a good project. You can still join if you want. |
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Do you really look for a long term profit, like the people who had bitcoin in 2014 or are you here trying to get a quick buck with a minimum effort?
Yes, I still believe in Bitcoin. When I started baack in 2016 it's value was not that as it ia right now. So for me, as long as it's value is still greater than how much it started; it's always good to invest on it now. |
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The current market corrections are making a better investor, well weeding out the panicky investors that do not do their research. The hype balloon has been pretty deflated lately, making it easier to find legitimate projects to come to the surface. To top it off i don't have to read "when moon! when lambo!" every time i open discord or telegram. I think those are huge benefits.
Actually you can make much more money when the market crashes than when everything is going up, or perhaps yuo can make it in any situation as long as you read the market well. To the second quote: I agree with this one. Better buy when the value is down, so when it increases it's value again you can make earnings through it. |
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