Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?
The government not being able to impose taxes on cryptocurrency is a big deal. Taxes are mainly the source of income of a state/country. A lot of people earn huge amounts of money through crypto which could have a great impact on the amount of taxes the government may receive. Some country's ban cryptocurrency to avoid tax evaders to become more rampant. It is quite easy to convert fiat to bitcoin. And once fiat has been converted to bitcoin, the government has no power over the individual's money anymore. |
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Most people would rather just hodl their bitcoin and consider that as long term investment. However, if you want to explore your other options then I suggest that you check various ICOs that can be found in the announcements section of this forum. Many say that most of these ICOs are scams or shitcoins but there are many projects out there which have the potential to be a success in the future.
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“The biggest misconception about cryptocurrency is that it’s just a passing trend, which is an emotional reaction to the paradigm shift that’s ultimately taking place. Cryptocurrency is here to stay – and as every minute passes, hundreds of thousands of new users are adopting it."
- Ron Chernesky, CEO of investFeed
I think Ron has hit the point in here. Indeed, people are now starting to realize that Bitcoin or cryptocurrency in general is already here and it has no plan to get dead or go away soon. I am sure that many people are quite apprehensive about Bitcoin and that can be normal because Bitcoin is something still new and it can take for people to adopt and thrive. Cryptocurrency has finally arrived and those in the forefront would reap most of the benefits resulting into the use of Bitcoin and other alts. I agree with this. As long as there are people who are interested in investing and trading cryptocurrencies, it will never die. People are more and more being educated regarding cryptocurrency and the interest of people in it are now adding up. More countries are starting to be more favorable towards bitcoin. Soon, there will be more adoption as much more countries are now choosing to accept the use of bitcoin. It's just a matter of time when bitcoin and blockchain technology will be widespread. |
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Why is Bitcoin tied to Fiat? Why is Bitcoin value moving like a stock? satoshi said the value will be derived by the limit of total coins. But we are seeing the opposite. Why dont we mathematically calculate the value of bitcoin according to the amount of bitcoin mined?
Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
This is because the value of bitcoin still depends on fiat. In order for most people to actually be able to spend the bitcoin or any other coin they earned, it must be converted to fiat. Although, one may argue that there are now some stores and establishments that accept bitcoin, so why does it still need to be converted? First, the establishments that actually offer btc payment are still minimal. And second, how do you think do they earn money by letting people pay thru btc? Of course, they still convert it to fiat. Truth is, bitcoin would not really be popular to many, and only a few will be interested in it if it could not be converted to fiat. A lot of people are investing in it to gain profit, and that profit could be limitedly spent if it will not be converted to fiat. |
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This is true. Every investment, may it be on crypto or not is really a big risk. It is important for a person to research very well on the coin he/she is interested in to minimize the risks. It is helpful to read and research about the coin’s whitepaper, reviews, and developers. This will help you know whether or not the coin you are going to invest in has the potential to grow or not. In addition, it could also help you to distinguish if it is a scam. Lastly, it is also important to invest money that you can afford to lose since cryptocurrency is very unpredictable, and it will be hard to lose your hard-earned money.
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Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
Cryptocurrency cannot be a universal means of exchange. Firstly, there are different coins and tokens in cryptocurrency. These coins have different values and different uses. Second, the value of cryptocurrencies is very volatile. Using cryptocurrencies as a universal means of exchange would be hard because of its diversity and volatility. However, if there is ONE crypto that could be used as a universal exchange, it would be possible. |
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Yes, I think cryptocurrencies will stay for more than 10 years even. With the vast development of technology nowadays, it is impossible for developments of cryptos to stop as well. As of now, there are over 1500 cryptocurrencies available over the internet. I think that as long as there are people who are developing new coins/tokens, and there are still people who are willing to invest in it, cryptocurrency will continue to grow and thrive as a market. It is impossible to see cryptocurrency to die in just a wink of an eye since there will always be people who will invest in it and continue to be interested in it.
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As the title says that if you want to increase the price of bitcoin then promote it everywhere around you. As if you will promote it and will discuss about bitcoin with your friends and family and your other relatives then they will also invest their money in bitcoin and the name of bitcoin may reach to a group of people who will have a high amount to invest in bitcoin which will increase the demand of it than its supply.
I am saying it because a few days ago I heard from a person that he discussed about bitcoin with a friend and after that his friend felt interest in that coin and he said that he has a total of $60000 income per day from his business and when he will fully learn about bitcoin then he will invest all of them in bitcoin each day instead of depositing them in his bank account. If people like that will get awareness about bitcoin then once again the price will start to rise.
Promoting and discussing Bitcoin with everyone you know will never be enough to have people investing in bitcoin. Not all people are interested in investing, since there are still a lot of bad press regarding bitcoin, or even crypto as a whole. A lot of people still have reservations about it. Moreover, even if you introduce a lot of people to bitcoin, the value most certainly will not go up immediately. There may be people who will come to the world bitcoin with negative notions and can contribute to its crash. |
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Bitcoin is making people go “crazy” because of the profit it gives to many people. This then makes a ripple effect since a lot of people will get curious about it. I think Bitcoin became popular only because it caters to the personal interests of a lot of people. Let’s face it, not all people are interested in the technology the cryptocurrencies have to offer. Most people here are just in it for the money.
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Thank god no one mentioned the manipulation of the whales.
This conspiracy theory is in the forum for quite some time now but no one can provide a single evidence that they are really manipulating the market price.
I also saw one topic about the cartel in futures which seems they just want to spread FUD.
The list you provided is actually great, yes Government decision should also be included because as we saw recently, their decisions really affect the price of the Crypto market.
Actually the whales were mentioned by someone above  , but I agree with you that those conspiracy theories have nothing to do with reality. It surprises me how people can believe in such things. Can't they estimate what would it take to perform such manipulations, taking into account that today's trading volume for BTC is $8.5 billion? While trying to manipulate the price with such a big daily trading volume it is possible to lose $100-$200 million in one day if something goes not as planned. No one would risk such an amount, nor Bitcoin whales, nor fiat billionaires, no one. Maybe you are right, and it's impossible to influence the price of bitcoin even to a group of people with huge capital, but how to understand the situation that was in December when the cost of bitcoin reached 20,000 dollars in such a short time, and that after a new year such a long decrease, or is it all an Asian new year?)) This is all about the game of whales. These are group of persons with heavy investment in the market. They can be grouped together and have such big potential to up and down the market. These whales have been deciding since the December of last year not to increase the price and hence see the market that is just revolving around a specific amount. They can use their power to do anything. I agree that whales have great power and influence over the market and prices, but these whales don't have unlimited power. It's even possible where a dump won't have any effect to the market. It's not every time when whales make a dump that the market follows. The market is sometimes stubborn and hard to influence even if whales do have huge amounts of coin within their disposal. |
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Name: Sir Cross
Rank: full member
Nexybit ID: sircross
Nexybit Exclusive Bitcoin Address: 33C9LFJv9EDL3aYvhRmBMuifGNzPqR4fRD
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Etherum takes the biggest part off my investment list and it's really wow to hear such news. Meanwhile fees for bitcoin transactions are falling from May and the speed of transactions is growing; Etherum became more expensive. Now I wander to what kind of change it may lead.
I was rooting for Ethereum as well. I had high hopes for Ethereum however hearing about this saddens me. This may make them fall behind unless they do something about it. Transaction fees are a big deal and no one would be willing to continue using it if bitcoin is significantly cheaper to use despite the other features ethereum offers. Holders of ETH may now choose to make a change of investment because this may make the price of ETH go down. With the price of BTC finally hitting a price of $7K after being really low for a long period of time, it sounds like investing in BTC will be a more viable option. |
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Btctalk name : Sir Cross
Rank : Full member
Current post count : 436
BTC address : 3D3P7MTsvWRjECw5iamTJ7vLppoZo4sREY
Wear appropriate signature : Yes
Wear avatar : Yes
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Since bitcoin is known to be the pioneer in crypto and is considered to be the “king,” it is also considered to be the center of cryptocurrencies. Altcoin’s values depend on the value of bitcoin. This is because altcoins need to be coverted to bitcoin in order to be converted to fiat.
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I think it is hard to impose taxes on cryptocurrencies as it is of course, decentralized. It is also hard to take tabs on how much a person is earninng/spending with crypto as there are different wallets, which are again not controlled by the government. Imposing taxes on crypto somehow makes it centralized, which defeats the purpose of it.
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Bounty hunters help to expose ICOs to crypto related audience to attract investors for the project. No matter how promising the project may be, if the ICO fails, the project won't see the light of the day. Bounty hunters are very important in ICOs. But there is one thing am not happy about bounty hunters. They usually dump their coins at any price the moment it is listed on an exchage which usually drops the price of the coin even below the ICO price putting the investors at a disadvantage. I want to advise the hunters to hold their bounty tokens for a while in order to maintain a good price for the coin. We shouldn't forget we are all stakeholders
This is true and at the same time they could also earn a higher profit when they hold their token, benefiting both the project and the bounty hunter. However, it is really important to point out that the tokens that are already distributed to the different bounty participant are already their property. They have the right to decide what to do with it, on whether or not they will sell or hold it. |
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Prediction is the core of bitcoin market. Without prediction, entire market is bound to fail. We invest in bitcoins because we believe that the value of bitcoin will be high in future. That's one kind of prediction.
Also majority of the crypto trades are based on short term predictions. If people stop predicting/speculating bitcoin's price, the market movement will be halted and the growth will be stopped. Bitcoin is largely a speculative asset. Without prediction, nothing will be achieved.
This is true. Although, there are some forecasts that are considered to be false, which are primarily from the “whales.” I think people should not necessarily boycott their reliance on predictions and speculations. Rather, people should be vigilant regarding the news or speculations they are reading. Not everything we find in the internet is true and it is important to double check our knowledge before acting on it. |
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If you are referring to the services being a scam then, try to find a bounty running by TokenMarket, BountyPortal or reputable bounty managers on the forums but If you're speaking about the members impersonating other members then there isn't much that can be done here. If the manager is vigilant, that shouldn't affect the original participant in anyway.
I agree to this. In addition, you could also try to research on the project first before joining bounty campaigns. This will help you to know on whether or not the campaign is a scam. Also try on reporting the members who may be abusive for them to have a red trust. |
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I think the best altcoins to invest to this year are ethereum, litecoin, and NEO. Ethereum is known to be the second most valuable cryptocurrency after Bitcoin. In addition, it also has a current market capitalization of $64.35 billion. Litecoin, on the other hand, is a digital currency like bitcoin which was launched to overcome the shortcomings of bitcoin, giving its buyers a faster transaction speed. Lastly, NEO is the most known crypto in China. It is also is a platform like Ethereum which is designed for developing Decentralized applications (Dapps), Smart contracts and ICOs.
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Yes it's only small rewards but if it were much bigger rewards it wouldn't be good for the projects as there would be better marketing alternatives. Also don't forget that it's so easy to sign up to airdrops that you really shouldn't receive that much.
I really do not see any point in airdrops but really though, who cares since it is free money anyway and you would not really have to do much most of the time. The thing with airdrop is that you will have to be ready to hold as long as you want to. Some may end up doing great in the long run and some may not, but the idea is to have a huge community behind the coin. It is easy for a project to end up highly volatile in the long run, when very few people are holding the market. Airdrop is used for promotional purposes so if it's successful, then it would be beneficial for both the participant and project creators. Airdrops generate advertisement for the project and there are times when you would have to accomplish some promotional tasks such as making a retweeting or sharing on facebook to participate in an airdrop. Not in all cases that airdrops are profitable when you hold. There are times when it's more profitable to sell after the token release because the price then plummets down after dumps have been made. Airdrops are not always made for long term but its pretty easy and free money for the participant and free cost for the developers. |
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