if i build a bank of bitcoin that operating like a traditional fiat money bank when people can save the money and get interest for their saving and also people can get a loan from my bank but the fiat money is change for bitcoin, the question is would you guys trust me to save your bitcoin on my bitcoin bank that i want to build ?
I think I would if even if the price of bitcoin change, I would still get the same amount of bitcoin in fiat if the time comes that I want to get my fiat back, of course with the percentage of my earnings along with it. But I think it is gonna be complicated to create a bank that is made for cryptocurrencies. |
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Banks can not afford increasing expenditure of the old technology anymore they will have to adapt to the change.Talking about technology and banking, Blockchain, will disrupt the financial domain with certainty. Much has been discussed, debated and discussed about this distributed ledger, both online and offline. So this innovative technology does not require a special introduction at this time. Calling it 'annoying' is a disparaging statement. To understand what a blockchain is, look at bitcoin or cryptocurrency. It has achieved many 'never heard' scenarios in the financial domain. Since technology has been introduced in the banking world, experts are always struggling to create safe and secure means of transactions. A person must go through a third party application or an intermediary or regulatory body to transfer money. But here is the digital currency - completely unfocused - and has broken all conventional banking laws. Today, a person can send money to anyone in the world immediately without having to go through the hassle of what I experienced. It has happened in many parts of the world. You can transfer money via WeChat, Whatsapp, and even Facebook Messenger right now. Believe it or not, blockchain is a breakthrough technology that can be applied to your domain-name. From agriculture, aviation to supply chains, finance, and the food industry, blockchains are everywhere. A lot of organizations around the world are already experimenting with this technology. Major financial organizations such as the SBI Holdings, Goldman Sachs and Citi group have already invested in blockchain. Back home, the State Bank of India (SBI) has grand plans in place to use blockchain for a number of processes, including the KYC system. South Indian Bank seamlessly carried out an international transaction using this technology. ICICI, YES Bank, Bank of Baroda, Axis Bank and Kotak Mahindra are some of the few banks that have hopped on to the blockchain bandwagon. While some banks are experimenting with this digital ledger and achieving impressive results, some financial institutions are gearing up to reform and redefine huge chunks of their banking processes.  Good for them and their customers! As far as my bank is concerned, I recall reading this article which showed that out of Fortune500 in last 50 years, 84% of them are dead today. In the next 10 years, I am happy to predict just a few banks will remain in Fortune 500. Most financial institutions will have either absorbed blockchain tightly OR they will be gone. In my opinion, banks and cryptocurrencies are two different things, But, I think it is best to use both crypto and banks, I can see many threads saying that cryptocurrency will kill banks, but I think banks are gonna remain and will be used together with cryptocurrency. |
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The Dutch Tulip Mania is one of the most famous bubbles of all time, for the scale of the bubble, the scale of the collapse, and probably including the seemingly obvious nature of the bubble considering the extremely limited functional utility of tulips. Bitcoin has now surpassed the multiples of value appreciation at the height of the Tulip Bubble (and by a wide margin). While this itself is not proof that Bitcoin is a bubble or that a collapse is imminent, it's worth considering if there's a lot more risk buying at this price (currently bouncing around $17,000) than anyone on these boards seems willing or able to recognize.  Thoughts? I think we cannot call it a bubble completely, we have seen it went sky high then it suddenly went crashing down, yes, it true, some people may call it a bubble, But for me, I can see that its price is still higher than its price years ago, that is why I cant call it a bubble just like some people are saying, although it hurts to see bitcoin crashing even more. |
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In our part of the world, Crypto currency is mainly accepted in internet based services like premium content and such. But offline, i haven't heard of any in our neighborhood. I heard that it is bustling in Thailand to attract more tourists in, but they accept top and main coins and not crao coins.
I think the first world countries just started accepting bitcoin as payment to some of their restaurants, but I have never heard of these kind of news again since the market went crashing this year. Most of the third world countries are still in the learning stage when it comes to cryptocurrency, and I think its gonna take those countries a lot of time before they accept bitcoin as payment in some of their stores. |
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If crypto does gain massive adoption and you are able to pay for things in crypto, there would be less of a reason for people to cash out into fiat. How would government collect taxes from crypto gains then? Also, if something like ETH becomes big, how is the government gonna stop people from making pyramids, ponzis, and scams in general?
For now, I would like to think that cryptocurrency adaptation is a sure thing that would happen, but what happened mid this year would definitely affect this adaptation greatly in a very negative way. Many people went bankrupted because of that great fall, and I think it would take time before the whole cryptocommunity could recover from such loss. |
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I constantly here people say " Only invest what you can afford to lose" Well no matter where your wealth is it could crash.
-Invest in USD- USA could collapse and experience mass inflation making your dollars nearly worthless
-Invest in Bonds- Government could collapse making your bonds worthless
-Invest in real estate- Housing prices could crash, natural disaster could hit and insurance company could go bankrupt
-Invest in metals- prices could crash, asteroid mining could collapse prices
Your money is never 100% safe no matter where it is invested.
Yes, I coudnt agree more, wherever you put your investments it will never be safe, it will just be at lesser risk or at a greater risk, but I think it is better than having nothing to do at all, atleast you have something to look forward to, and you might even hit it big, just think about how much investment are you willing to do. |
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Just a little reminder for the Bitcoin price watchers! The price will drop slightly today, because a lot of people will be buying some goods and services with some of their bitcoins. These bitcoins will increase the supply of bitcoins on exchanges and we might see a little drop in the price as a direct result of that. So DO NOT panic, if this happens today. We hope that people will be motivated by merchants to buy at a reduced price, if they use bitcoins as the payment option. This will balance out the over supply of bitcoins, when there is a increase in the demand for coins. So Bitcoin merchants, offer some of those large discounts to people who only use Bitcoin as a payment option and see how the price will increase.  Hope this makes some sense.  I think its gonna be hard to tell and convince people to stay calm when the market is going down, it is only natural for any investor to feel worried when he sees that his holding or investments are going down along with the market, But I also hope that people would be more patient and see this down fall as the time to buy more coins, it could benefit us all here in the cryptocommunity as well as the investors when the time when cryptocurrency goes booming again. |
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I think, what is everyone is saying is mostly true, there are a lot of ways where you can be of advantage when you invest in bitcoin, risks are also there and I think when it comes to investments you cannot remove the risks, so it would be just the same as investing in the stock market or anything else, its just that cryptocurrencies are highly volatile so you need to closely monitor whatever investments you have.
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We know that younger people these days are used to everything being faster and more efficient, because they have been exposed to technological innovation from their birth. The younger people entered this world at a much faster pace than the older generation and they are being bombarded with choices like no generation before them. They are also used to instant gratification, because technology has enabled a world where things happens almost instantaneously. Bitcoin is just another technology where things are done more efficiently and much faster than the traditional options available and the younger generation are drawn to these technologies, like a moth to a flame. Bitcoin should be applied to all services where there are a need for more speed and efficiency, to draw in the younger generation that are constantly searching for that. Do you agree? Let's discuss this and see if we can target the correct demographic with this technology.  I think, our world is continually changing, along with the generation. What you said that our youth would be the one who will go more for the cryptocurrency adoptation is definitely true, why? because one, they are the next generation and they couldnt do anything about it neither do we, and second, because they are the ones who are gonna be the benefactor of the change and whatever advantage the cryptocworld could give people. |
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What do you think about the popularity of Cryptocurrencies around the world, do you think many people now are aware of this Technology currencies?, how much percentage would you think and how can we expose and spread this?  I think this crypto technology is already known around the world, and if I may put it to percentage then I think it would be around 80% of the worlds population or 70% already heard but not fully understand what cryptocurrency is. Now, the knowledge about cryptocurrency is spreading around the world that even the third world countries already heard about it, I think it would take less than 10 years before the whole wold knows about cryptocurrency. |
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Aside from discounted rates when purchasing tokens before public launching, what else can a potential investor benefit from investing in an initial coin offering?
What do they do when the coin comes to a crash when it goes public? How do these companies protect the interests of their investors?
Some ICOs are offering a buy back if something goes wrong, so you already have your security that your lose wouldn't be so much, and yes, what you said that you gave your self the chance to buy a lot of tokens or coins in a much cheaper price, so when it lunches and the price went sky rocketing you will definitely gain a big amount of profit. I think that is good enough to know for me to consider it as advantage. |
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Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?
As I heard and read, the government is doing their best just to get the people out of the crypto world, they are telling people that it is a scam and that they would just be wasting their money in investing on cryptocurrency, but, they cant pull people out of it because the people are seeing what cryptocurrency is, and they know that it is not a scam or anything bad, if cryptocurrency is something, it is not scam, it is a good investment. |
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Looking at the current market, many people are disappointed in the market price, bitcoin prices stomping at the $ 7000 level, altcoin prices are falling deeply. Recent good news, however, shows that the market continues to grow and has great potential in the future. What would you do this time: Buy bitcoin, buy altcoin or do nothing?
For me, I think it would be better if buy more coins now that the value are low, buying coins will help the price to go up and you also have the chance to earn more profit, because you bought a coin in a low price and you can sell it in a much higher price, I think that is a good way to respond to this kind of market. |
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In my opinion, these hackers will never be out of the topic when it comes to cryptocurrency, just like scammers in our daily lives, hackers will never leave as long as they are able to hack and steal money from others, I think it would be better if we just forget about them and focus more on how can we secure our holdings, let us study and use whatever way we can to protect whatever we have so that this hackers would have nothing to do but to stop.
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I think, there is nothing to be mad about in what is happening in the market today, I think there is if you are just a new investor of cryptocurrency. Last year lots of people got really happy about what happened in the market, and most of the people here made a lot of money, but those late investors or new investors who just got in the cryptoworld have been faced in a difficult situation, but I think everyone can use this to study how to make profit on a down trend.
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I think it is way better and literally would make it easier to send money online through online wallets, but the problem is that, is their country already informed about cryptocurrency?, do they have some kind of exchange like coins.ph that could exchange their cash on hand to cryptocurrency? if not, then what you are saying is gonna be more difficult than sending money through remittance centers, but if they do have an exchange, then every OFW should learn about cryptocurrency.
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I think, the best language to learn is no other than Chinese language and that is because China is the one dominating the world market today, we can see products which are made in china wherever we are, it doesn't matter whether its in a third world country or the first world country, when it comes to business China is the best and we have to admit it.
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I think, sticking with Bitcoin is just fine, Bitcoin and ethereum are both very famous especially to those who are new to cryptocurrency, which means one they get involved with cryptocurrency they tend to see and buy bitcoin and ethereum, and this will just increase the value of bitcoin and ethereum making your investment grow. Then maybe after learning about cryptocurrency more then you could buy some other coin which you think might hit it big.
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I agree with the phrase, but I don't think that poor people are poor because they are stupid. There are lots of rich people who became poor, and that is because they are didn't chose correctly, but these poor people just didn't had the choice, so they need to earn money or get out of poverty the hard way, buy it doesn't mean that they wont get out of poverty and that they are stupid.
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In my opinion, the security of our wallets is the most important thing to consider in the crypto world, we are talking about real money here and we want them to be perfectly safe in our wallets. There are lots of event here that people are losing their coins because someone just hacked their wallets and they sure are regretting that they didnt make sure that their wallets were secured.
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