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1  Bitcoin / Bitcoin Discussion / Re: Crypt is now legal in Ukraine on: December 15, 2019, 04:39:58 PM
So, guys, I think it's a small but a win. A win of our crypto community! I hope there will be more such examples of accepting crypto in 2020. We will start with small countries and then go to global powers. What do you think?

There's the news https://bitcoinist.com/crypto-payments-now-legal-in-ukraine/
Thereís no such thing as a small adoption, as long as they adopt there will be a big impact on cryptomarket. Iím always happy to hear this news if they accept crypto as a legal currency then the 47.1million population of Ukraine will enjoy the privilege of controlling their own money, thatís a big thing and good result will happen on this market.
Out of those 47.1 million people only a few people will be there who will start using cryptocurrencies for Payments and rest will still be using traditional cash. I highly doubt that there would be enough population knowing that crypto is now legal as there is one friend of mine living in Ukraine and I told him about the crypto payments being legal in his country.
2  Economy / Speculation / Re: What will be your next move? on: December 15, 2019, 03:42:45 PM
What will be your next move in this market situation wherein price pump is speculated post halving followed by a dump or further fluctuation but if we look at current market situation especially from past one months nothing looks convincing as there are numerous short term momentum and dump as well.

Will you wait for further positive events or invest when the market is bearish?
You should always buy the rumor and sell the news as masses follow each other so when the news come that bitcoin is going to fall in price that's your clue to just hold your coins as others are going to sell their coins and this will create a fall in price. And as the price is already falling, I don't think that the situation will be better in the future in short term as well.
3  Economy / Speculation / Re: Is Bitcoin going to $9200? on: December 15, 2019, 01:22:12 PM
Lets see who will prevail before the end of year if bulls or the bears.  If the market  will end this year in bullish mode  bitcoin will have a price by next year. But if bears end this 2019 opposite will happens, just a wild guess.
The price is already going downwards as it is at about $7100 whereas it was higher than this a few weeks back, so I think price is going to fall more and then it will start climbing once the bitcoin block reward halving is near the next year. But until then I don't think there can be a bullish cycle at all.
4  Economy / Speculation / Re: Buy every dip! on: December 15, 2019, 12:59:44 PM
It is very difficult to predict each and every dip.
And apart from that, the dip strategy is considered as a long term strategy. The crypto market is not very stable to endure buying and buying again dips. With that being said, it might rekt you and you will need years to recover your losses.

I strongly disagree with you. Buying the dip is a dollar cost average method, but instead of buying every week,  you just buy every 10-25% drop.
Following this method I many a times get greedy and wait for the price to fall more and that makes me buy bitcoin at a higher price than that I could have brought before. Also we should understand that the huge price dips are short termed and last from only a matter of minutes to a few hours and then the price corrects itself and you can catch those dips only when you are lucky in my opinion.
5  Economy / Economics / Re: Is KYC benefit to crypto people or not on: December 14, 2019, 01:22:03 PM
Is KYC is benefit to crypto people or not. what are the advantages and disadvantages of doing KYC.

Universal money and Anonymous is the biggest strength of btc BTC, now every country follows KYC and then it can be controlled by someone.


Now KYC is trend in crypto market..... Cheesy
KYC is doing more harm than good to the people using crypto as the main motive behind people using Crypto is that they are anonymous and they can surf the internet and pay online anonymously but exchanges requiring KYC are quiet anticrypto as they make crypto centralized and if government asks them to provide information about the people using the exchange then the users are officially screwed.
6  Economy / Economics / Re: Hi Excuse me Are currencies a "store of value on: December 14, 2019, 12:55:26 PM
Hi i'm monolicaคาสิโน
A quick history of currencies and paper money shows that money began as a deposit of a certain value of gold/silver and then turned into a representation of the promises of those who issue it.
Looking at the US dollar, it has lost more than 90% of its value, making all paper currencies a bad example of a "store of value." "I do not want to mention the scenario that happened in the state of Venezuela or Germany after the war."sagame
Currencies are no more a store of value, in the past the national currencies were tied with the amount of gold that was present in the national gold reserves but as the demand increased then the currency was made only as a promise that the government will pay the bearer. That's why crypto is much better than using currencies as its value also increase and it is a good piece of investment for millenials as they truly understand what innovation and also accepts the new changes very well.
7  Bitcoin / Bitcoin Discussion / Re: Best ways of bringing Bitcoin to non-crypto users on: December 14, 2019, 11:31:48 AM
I just ordered the Wirex card and hope to get it soon. The idea is to receive crypto (Bitcoin) by doing stuff that I would be doing anyway.

What other ways do you know to receive / earn Bitcoin for everyday stuff outside of the crypto world that could bring Bitcoin and other crypto directly to users for them to spend?
Freelancing is the best way of getting crypto by doing the stuff in your free time and getting some investment money. Also that you can do some gig and have a donation page build up for donating crypto to your wallet or if you are a content creator try joining websites that pay you in Crypto as well. These are the simple methods outside the crypto world that you can do to get paid in Crypto or bitcoin and these doesn't require much of energy or time.
8  Economy / Economics / Re: Energy consumption will become an issue if bitcoin really breaks through on: December 14, 2019, 10:28:01 AM
Let's say that Bitcoin takes the place of the USD within 10 years and see what the energy consumption of the bitcoin network will be.

facts:
 - USD "M2" money supply in 2009: 8E12 USD (http://money.howstuffworks.com/how-much-money-is-in-the-world.htm)
 - in 2023 there will be 19E6 BTC. Mining will be honoured with 6.25 BTC/10min => 329'000 BTC/y (https://en.bitcoin.it/wiki/Controlled_supply)
 
assumptions:
 - BTC takes the place of USD => one BTC will be worth 421'053$ (of course valuation of BTC will devaluate USD...but let's leave that aside.)
 - let's say 1kWh costs 10cts USD
 - all miners use the same recent technology. Or at least with equal efficiency in MH/J
 - people are not paying significant transaction fees by 2023 (the more people will pay fees, the higher the resulting profitable global energy consumption)

(edit) In a free market the following formula approximates energy consumption of any PoW based cryptocurrency:
GlobalEnergyConsumptionForMining ~= (MiningReward + TransactionFees) * bitcoinValueInUSD / EnergyCostInUSDperkWh


So mining would be profitable somewhere below an energy consumption of the bitcoin network of:

break even price: 421'053$/BTC*329'000BTC/y = 139E9$/y
equivalent energy: 1.39E12 kWh/y

Today's global electricity consumption is around 20E12 kWh/y (http://en.wikipedia.org/wiki/Electric_energy_consumption)

This means that the bitcoin network by itself would raise global electricity consumption by up to 7%

Please show me where I'm wrong!

We could of course put this less dramatic:
  - in 2033 it would be 174E9 kWh/y
  - in 2100 it would be 2.65 GWh/y

today we would be at 5MWh if all miners were using newest ASIC's (https://en.bitcoin.it/wiki/Mining_hardware_comparison)

(edit)
CONCLUSIONS:
 
  • according to economical basics, energy consumption of the bitcoin network does not depend on mining gear efficiency!
  • the problem described applies to every proof-of-work based currency (including Litecoin) because proof-of-work equals proof-of-energy-consumption at a market equilibrium
  • bitcoin value is NOT directly backed by energy consumption. But mining rewards and transaction fees are.
  • the slower the bitcoin value rises and the lower the transaction fees, the lower the energy consumption of the bitcoin network on the long run

All the said things make sense but you should also think that all the growing businesses require energy and every day our demand for energy is also increasing and the energy required by bitcoin Miners isn't that big amount at all. The politicians are making a big deal out of it, they are connecting bitcoin mining with rising climate temperature and also global warming which isn't true at all.
9  Bitcoin / Bitcoin Discussion / Re: You don't want Bitcoin, You don't want Future :-\ on: December 14, 2019, 09:48:50 AM
True. One way of having a future with bitcoin is to invest in it. Buy and hold because will eventually surpass its current price.
Trading is also a way to earn bitcoin for the future. Study the way it rises and falls and cash in on it. You can trade against alt-coins too.
Be wise. Safe for the future.
Some people can't be convince so easily. Me personally I watched how bitcoin develops back in its early days up untill where it is right now. And I'm telling people to invest in but they don't want to because they believe that is is a scam. I guess some people don't want a secured future lol.
I have also tries to convince people to invest in bitcoins many a times but most of them refuse to do so as they think that it is a bubble and it can burst at any time just like the price spike of 2018. I have watched bitcoin from when it was at about $100 each and I always regret why I didn't invest more of my money into bitcoin as i could have also made a fortune by investing my money into bitcoin that have been lying in the bank getting beaten by inflation.
10  Economy / Economics / Re: How do manage portfolio efficiently while having a full time job? on: December 10, 2019, 11:24:54 AM
That is the problem of many people who want to trade cryptocurrencies. They want to trade but their schedule is bery tight because of their day job. Proper time management can solve this problem. It is a good thing that cryptocurrency trading is open 24 hrs because there are markets like stock market that have specific trading time. Also seek different strategies that will fit to you even if you have day job.
People who are having a day job shouldn't trade in more than a couple coins as more coins in your portfolio means that you should be giving more time to study each and every one of those coins and this becomes very burdensome in long term. So what I suggest is that you should consider having only a couple of coins in your portfolio this makes it easier to follow them and also you will be having spare time for investing in family.
11  Economy / Speculation / Re: Btc Price is Not showing, Missleading news and hype on: December 10, 2019, 10:04:02 AM
Btc Price is Not showing exactly how big is crypto market Cap really!

Btc Price comes from the buy and sell orders from coinbase/ kraken/ binance... Polo and So...  Others.



But it does Not show nothing When crypto is exchanged privately.

So what should be the correct Bitcoin price then?
7000 $  for that Kind of crypto awarness and adoption its very little...


We have so much hype... About crypto like bakkt... Like FED printing money  and inflation of FIAT Currency... So much positive news daily, but the btc is Not doing Good! 

The hype is bigger then action



WHO is Behind that fake and Missleading news? 
Those positive news are Missleading If the real results and profit are Not there!! 


Yes btc is Techically Good but Price is Not Good
It can be the whales trying to put the bitcoin at a constant price to hoard bitcoins for the upcoming 2020 bitcoin price halving. It has also been proven in the past that many a times a single entity was responsible for breaking the resistant or support on some of the major exchanges which made the price to go bullish or bearish respectively. Like as of that on bitmex where a single person broke all resistance by purchasing about $15 million of bitcoin contracts due to which there was an overall rise in price on every single exchange.
12  Bitcoin / Bitcoin Discussion / Re: Every tiny piece of Bitcoin is worth it! on: December 10, 2019, 09:37:40 AM
Back in the days i used to disregard some pennies of my bitcoins in several exchanges thinking that these coins would never be worth it looking at its price at the moment. However, this idea came into my mind about some few weeks ago that what if Bitcoin reaches a double of its previous all time or even greater once this long awaited global adoption sets in.

Seriously this made me think twice and have made me roam through all my exchange accounts and wallets making sure that i have access to them in order to cash out all those pieces of bitcoin if they ever become worth it again. This may sound quite silly but i am quite optimistic about it Grin
Buddy the point is that if you want to take out those pennies from the exchanges then you will need to depend a few dollars as the exchanges charge a constant fee of 0.001 btc to 0.003 btc varying exchange to exchange. So now it is best to keep those pennies resting in those exchanges until a new method of sending bitcoins is developed.
13  Bitcoin / Bitcoin Discussion / Re: What can be done to stop loss sending to wrong bitcoin address on: December 10, 2019, 08:57:46 AM
I always check the address before sending my bitcoin and it was like checking the whole day before sending it especially if its a big amount of bitcoin.

My suggestion is that, don't make any bitcoin transactions if you're drunk, not in the mood or feeling sleepy because you might skip checking it and you might put a wrong address. Also ask the receiver if the address is correct, any mistake can lead to a big cost of losing your money.

Using shorter addresses are much effective in sending and obtaining money from the wallet. It is very important because it helps you to prevent losses and be comfortable with your accounts. Easy to remember wallet address is more noticeable and very quite safe.

Always double check first the wallet address that you're going to send to.
Shorter bitcoin address would mean all the bitcoin addresses will be taken up by the users quickly. As many of us own more than one bitcoin address so it will also cause problem for the users. I suggest no protocol changes should be made withing bitcoin. As sending bitcoin to a wrong address is something just because of a user's fault, so the user should double check the transaction before sending it and also what I do is double check the starting and ending of the address as it ensures that I am sending to the correct address and till now I haven't sent my bitcoins to a wrong address.
14  Bitcoin / Bitcoin Discussion / Re: What is the fate of Scammers if bitcoin later becomes a traceable Currency. on: December 09, 2019, 06:23:16 PM
Bitcoin as a currency that is decentralized, they is no Headquarters for Bitcoin and it has no Central office where they distribute information concerning Bitcoin, Like illicit transactions that money was lost but recovered after some investigations through the distributed information.

like someone said on my previous thread that more people will be comfortable using bitcoin if these features comes into place.

Share your thoughts.
Speaking frankly if traceable transactions were involved in bitcoin then it wouldn't have been such a huge success as every transaction would have been traced back to its owner. Bitcoin became popular when darknet websites became accepting it as a means to pay just because of its pseudo anonymous nature. I personally feel safe while using bitcoin because my identity is safe and no one can track my records.
15  Bitcoin / Bitcoin Discussion / Re: Sale my old bike and buy bitcoin, what do you think? on: December 09, 2019, 01:44:16 PM
         

I had an old bike and i was purchasing almost two years ago, but one week i have sold my bike and i purchased some bitcoin.
Especially I want holding long time with more patient because i want makes more profitable.
So what do you think ? My decision is worng or right? The upcoming year 2020 give me good profits ??

Notes: basically i am not more expert trading then i keep decision holding is my best way for making more profitable.
Welcome to share your mind.

Selling your belongings that you are currently not using for buying bitcoin or investing is a great idea as your bike will loose more value in future where as on the other hand investing in stocks or bitcoin is going to give you profit and the same has been done by many people and the fruit of their investment was getting a financially successful life.
I've heard stories about people selling their house to buy bitcoin and their investment paying them off by making them a multi millionaire.
16  Alternate cryptocurrencies / Altcoin Discussion / Re: Hide my money from my country on: December 09, 2019, 01:13:38 PM
Hey, I sell some stuff online and I am looking for a way to keep my money for about 2-3 years. In my country we have to pay 19% from any income to taxes, so I was thinking fuck them. First I thought about PayPal, but I'm afraid they will freeze my account like they used to do randomly. then I thought about Bitcoin, but it's very unstable and I don't want to gamble on the money.

So I have read and found out about the stable coins, Im newbie but its looks like they might be the solution for me.
1. Tether is the most famous but doesn't have the proof of funds, so one day it can be a problem.
2. USDC coinbase is asking to validate the identity in order to use it, so I afraid my country will find out about that.
3. Paxos is also asking for a documents ID.

I am not sure that I understood everything correctly, so I will be thankful if you could help me to find the best option for me.
Thanks in advance.

edit:
https://bitcointalk.org/index.php?topic=5207987.msg53294999#msg53294999

Risk and being unstable is part of any coins in the market, but it depends on the situation, and the time elements if you are following the future market potential of Bitcoin every predictions points to profit and another all time high, so by the time that youa re ready to withdraw your coin, you coins could be 50% of it's value.
This is the funny thing about the crypto market, if you don't time your exit well you can end up in deep trouble. Many people have lost their fortune in Crypto but also many of them gained a lot of money just by selling at the right time. What most people do is buy when the coin is everywhere in the news thinking that they could get rich by doing this. But what they should do is that wait for the market to take a dip and then invest in Bitcoin or other crypto.
17  Economy / Speculation / Re: What's going on? on: December 09, 2019, 12:02:30 PM
What's going on with the market as everyday you can see a quick pump or dump which was not the case until last one month? I thought it's done by whales but I don't think they will do it so often. Who is creating these fluctuations and where will this lead us? Bull run or bear market?
In financial markets the usual market pattern flows in 3 ways sideways, up or down. The up and the down phase are very quick and happen in short span of time and are either money making opportunities or a lot of money is lost in this time. In the first case of marker going sideways it is the step that goes on for most of the time and is very frustrating for many people having lack of patience and experience.
18  Economy / Speculation / Re: Bitcoin will reach $100k within 5 years from now on: December 08, 2019, 03:10:36 PM

sorry but i dont agree with you . i always based on the current value of a coin before i do prediction  , i forgot that i also based on its performance .  on the past two year course btc is performing badly and its value didnt even break the 10k limit at most , and with that said , i dont think that itll reach 100k usd not even 50k usd but if ever its performance change , why not  ? when btc slowly reach ath's and reach 100k usd up to 500k usd then i can assume that 1m usd is also possile .

Again . this is only speculation. everybody can make their's analyze and argument. so if we back to 1 decade ago , when 1 bitcoin is only valued bellow $1, does anybody think that will be almost $20.000 in 2017 ?  Grin. let's see how the bitcoin rising their ATH again.
Yeah, but it seems like speculation has a stage. no one expected that the price of bitcoin could reach $ 20k, and now people are speculating that the price of bitcoin can reach $ 100k. I agree with that, but we also need to see the current reality. no matter what price bitcoin will reach, it should have passed the $ 10k price again, and we don't know for sure when that price will be reached.
Bitcoin price is still more than two times the price as compared to start of this year when it was in the $300 range. So I would say it is quiet a good progress. If this progress continue to go on then $100k can absolutely be achieved, but the thing is that we have to see when the price will be reached.

~snip~ reach 100k usd up to 500k usd then i can assume that 1m usd is also possile . ~snip~
Currently this price isn't achievable at all and is only a wildest fantasy as per me.
19  Economy / Economics / Re: What will happen if the all countries convert to cryptocurrency? on: December 08, 2019, 01:43:36 PM
Now that more and more countries are starting to go cashless (http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency? If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage?

Countries won't shift toward public ledger as then all the transactions will be available for everyone to see. But what the central banks can do is to adapt to private blockchain that only the banks can have access to as it will be more secure for them and also for national security. But adapting to cashless systems throughout the country isn't possible as there are many societies living without internet and that will be a big problem to them to send any money in case of digital economy.
20  Alternate cryptocurrencies / Altcoin Discussion / Re: Alts with no liquidity on exchanges on: December 08, 2019, 05:59:56 AM
Since Coinmarketcap added Liquidity to its indicators, you can see a lot of tokens with enormous daily volumes have no liquidity at all. Is it even worth to invest in this kind of tokens? Does that mean that most of the volumes are fake? Thanks for the answers.
Yes most of those volumes are fake. Even in past there were many exchanges found guilty of falsifying their daily trading volume and this affects users a lot. Many a times when I was new in Crypto I used to buy coins for arbitrage, but on many exchanges I wasn't able to sell the coins that I brought and this made me lose money many a times,because when I transfered my coins to the exchange with a high price then those were unable to sell just because of no demand at all for those coins.
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