Yeah I started this thread as I thought the amount of funds going into the address would keep rising as it doubled in about an hour but I think that was just the people testing with it. They also gave a limit of 30 minutes on a few of the tweets and there mightve been a learning curve or other reasons people wouldn't make it in 30 minutes (excluding knowing it was already a scam)..
The 30 minute time limit that hackers gave to their victim can possibly be the way to make their victim rush on sending bitcoin to the address but one part of the reality happened is most possible victims has no idea and tried researching how to buy bitcoin but didn't continue because of the complications or their minds changed halfway on the process. I think the twitter scam controversy issue won't affect the bitcoin price too much since there aren't much collected. This 30-minute time limit was having many reasons behind it: 1. The person wouldn't have much time to check the legitimacy of the tweet because if someone is giving away bitcoins then there would be a social media post of the same in numerous places, like on the Instagram, Snapchat, and Facebook of the person in order to reach more number of people. 2. To create a scarcity of Bitcoins distributed, only a limited amount of bitcoins were being given away by them this also made the people to not think from their minds first. 3. Twitter would have eventually caught on them if they would have accessed the accounts of those celebrities for too long. Also, this incident should have made bitcoin more popular and thus should have increased the demand for and so do the price. |
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It is not everything that can be done from home and not everyone has the technology to keep working from home and this is part of the reason why rate of unemployment is getting high. School might be shifting back to online for some courses while some that involve practical knowledge are being postponed a lot of individual that run offline business to feed their family and friends are at the crossroad
Actually a friend of mine is doing a course that requires the most practical knowledge and his professors are teaching him the theoretical part in the lockdown and are planning to give the practical knowledge when the colleges reopen. I also am feeling sad for those individuals that used to run offline businesses and are now not able to do so because of the lockdown and government orders as they also have to support their families and now they just can't do that because they aren't able to open their business now for the customers. New normal still not good at this time that covid positive keep on increasing every day but the government implement this to help the economy rise and not totally collapse. I don't really know what is the plan of the government as they know that the affected people keep on increasing because they open everything,transportation,business establishment, people can go back to work, almost everything. I can't really understand this. What if the economy will recover but the large volume of population die because of COVID during his new normal? Is it still normal to the government?
Government is opening everything but the offices of those government officials still remain closed why?? Because they want to experiment on others the effect of removing the lockdown on the population and when it is actually safe to roam around the offices of those officials will open again. |
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Depends on what you mean by Proper Regulation. I think proper regulation should be decentralized regulation. You regulate what needs to be regulated in decentralized manner. This will help prevent the centralization of decentralized systems and applications.
Centralized regulated encourages corruption, lack of transparency, secrecy, lawlessness, etc
Definitely! In case of centralized regulation, there can be a lot of cases where people will abuse the power that they are having and corruption as you said will also be there when people will easily have the work done that favours them or their business by paying a fee to the person that has the most power in that centralized system. But I can't think of a way through which decentralized regulation can take place. Maybe you can tax people based on what they own or make in a fiscal year and directly cut that percentage through a smart contract or through miners imposed tax where miners/mining pools will apply the tax on the wallet and once the owner pays the fees in terms of a transaction fee to the pool then the transaction will go through the pool and reach its destination. |
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People that send the money believes a lot in the Twitter handlers that posted. For instance a strong follower and believers of Barack Obama will take his tweet about giveaway serious and might have no reasonable doubt not to send the money. The hackers don't generally select the account but specifically go for account that people hold trust in them. If not, I believe they would have target accounts such as Donald trump page. I strongly believe everyone deserve to be happy and whoever send money should get their money back if the hackers are apprehended
If you don't know about those things and when you see the legit account of the well known personality posted that for sure you will get appealed to send since for quick instance you will provably believe that those things is true, that's the reason on why we see people getting get scam and since the issue has been raised and this is recorded on the book for sure this will not happen again in future, people are more aware on another scam tactics like this by now. I don't think that people will still learn from this and will again do this kind of mistake of sending their funds to someone else's account on account of a false promise that he will instantly double your money and return it back to you. This attack was just the same where people used to say Binance is giving away Ethereum and other crypto for participating you need to send x amount to this address and then the tokens will be airdropped and this recent scam also happened on twitter as well, the thing is people should control their greed and should think with a rational mind and then only they can keep the hard-earned money to themselves. |
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No. But 25k would be possible, so you just need to cut one zero there.
There is also a possibility of visiting 2.5k, if Covid 2.0 hits. Bitcoin is part of the fiat system now.
If the countries won't open air-travel and also the travel of people between different countries then there won't be a COVID 2.0. The countries should open the travel between 2 countries only if there aren't any new cases in those 2 countries at least for the past 2 months or so, this will minimize the chance of spread of infection and also in case of asymptomatic persons the virus would have also gone from the system, if the precautions aren't taken then there will surely be another COVID wave. If the pandemic won't stop then passing $20k would also be good news, would definitely be able to see the bitcoin price rally again to ATH but in a longer timeframe. |
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The market is really unpredictable but once we see an upwards movement of bitcoin to $10k well it is a good news to many. It is not accurate and it's just pure speculation so still good to know we're reading others predictions a positive vibes that bitcoin may begin to a bull market. So actually these levels in my view, it's not a clear path whether we will experience a bull market these remaining days of July but of course, I’m also one of those who wait to see a good movement in bitcoin price.
The $10k price range was touched many times in the past by bitcoin in the month of June as well and still, the price fell below $9k currently hovering at $9.2k, so if a bull market had to start then it would already have started because more than one chance was there for its inception. I think we would have to wait for the price to reach atleast $10.5k or above to safely say that the bull market has officially begun and I don't believe that it is going to happen in the month of July as well, I am aiming for the mid of August or September start for this price point. |
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Hardware wallets are much better than software wallets. The hardware wallet security system is much more modern and improved. It always keeps your private key secret during the transaction. Your private key is opened during the transaction in the software wallet. This is one of the biggest problems to scam your wallet. For this reason hardware wallet is much better than software wallet.
If you are having good security on your computer and having your keyboard keystrokes encrypted then your passwords can't be stolen even when you type in your password on a computer with a keylogger installed. So that won't matter much. The main problem that can happen with a software wallet installed on your computer is that if it gets attacked then your wallet.dat file can be downloaded by the attacker which he can compare with the dataleaks from other sites or can even bruteforce the password if it is weak enough. |
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As of now crypto is surviving this harsh period wherein we have seen Bitcoin doing better han expected and same goes with altcoins as well but where will we find ourself at the end of pandemic? If the situation worsens do you think we will get more investment from newbies who might by switching from their traditional investment to a crypto as none of the businesses are going to prosper during this situation so there are chances we will get more investment into crypto or else there are possibilities of massive cashout if crypto decline as the existing players would switch to gold atleast to keep their investment intact.
Kindly share your suggestions
Higher is the chance of people who used to invest in cryptocurrencies will take a break from investing in crypto and think about traditional investment vehicles like stocks, real estate and helping out other small businesses when the pandemic will be over because there will be a lot of new opportunities created in the same old market due to the economic slowdown provided by the pandemic, but after some saturation, we will again see the trend in which people again invest in bitcoin and will see bitcoin as a lucrative investment. |
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I'm so confused about India's idea about how they deal with the cryptocurrency, if they will legalize it or not.
They lack of affirmation whether they will allow people to use cryptocurrency or not.
Just like other countries, their decision towards cryptocurrency should be finalize so that it don't make any confusion or dismay to the people who are hoping for it to become legalized. Maybe their country is not that prepared regarding the proper regulation of cryptocurrencies into their economy. Probably, they lack of knowledge and experience in allowing it to regulate in the market that's why their decision is not that secured.
The Indian government lacks a crypto regulatory body and also that crypto is pretty new to Indian society unlike other societies the Indian government isn't stressing towards cryptocurrency or blockchain adaption. Even the Central bank of India is against the use of cryptocurrencies in the country and is having a case in the court regarding the banning of the use of crypto and related items in India. The Court has ruled in favour of crypto users once after which the 2-year long ban was lifted off and now we will see what happens in the future hearings and that will decide the fate of cryptocurrencies in India. |
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This site is owned by the people who supported the forking of bitcoin to bitcoin cash and the CEO is Roger Ver, who was once a big spokesperson for bitcoin and now is supporting bitcoin cash for his own reasons. The main website for bitcoin is actually bitcoin.org and bitcointalk too, both owned by Cobra which are the official websites for bitcoin, whereas bitcoin.com isn't official at all. But most of the people always search for a .com domain so they land upon the domain that accepts bitcoin cash as a default currency. |
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Lol, I can't even store as little as 0.2 BTC on a web wallet and then there is some company out there that calls themselves an exchange and a banking app storing 336 BTC in a web wallet  What kind of thick-headedness is this? Members, is blockchain.com/blockchain.info wallet the same as bitcoin.info?  Imagine handing over your money to such a very careless individual who can't even differentiate between blockchain.info and bitcoin.info. Exactly! Here on the forum even a new member understands the risk of having large amount of funds in an online wallet, let alone a company having 336 bitcoins in the blockchain wallet online. After reding the statement it seems that the hacker wasn't able to steal the funds before logging into the account, after the person logged into the account and had a transaction done then the hacker stole all the bitcoins, so I think there would have been a keylogger on the computer from which the person accessed the wallet. Members, is blockchain.com/blockchain.info wallet the same as bitcoin.info? These two aren't the same at all, blockchain is hosting wallets and block explorer whereas bitcoin.info is having price information and some referral shit on the website. |
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If you read some rules regarding some exchanges, they are displaying that do not place too much tokens or coins that is held there for a long time. This means that exchanges are made for exchanging. You only use them for a small amount of time and not that long because those wallets are not specifically made for holding them for too long. Exchanges can encounter problems and you can avoid them by only using them when you need to.
Investing in exchange is completely different from holding your funds on the exchange. When you invest an X amount of money then they pay you dividend or intrest based on their growth and profit, some exchanges require the users to hold the exchange issued token and I like the holding tokens method more than just investing in the exchange because if the exchange becomes more popular then the token will also increase in price have a look at Binance and you will understand. As for having your funds stored in the exchange account, then it is a very risky option for parking your money cuz the exchanges are vulnerable to exploits if there is any left in the code and then you can lose your money in case the exchange faces a hack. |
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It is beneficial for the government to show interest in cryptocurrency. This may be one of the levers of power. By controlling the cryptocurrency, you can have a large income from paying taxes. Cryptocurrency is always expensive. Perhaps in the near future, more and more countries will enter their cryptocurrency and control it.
How can the government cut taxes on cryptocurrencies?? Crypto is decentralized and the official ones would probably be having an inbuilt code to detect the amount of funds that a person earned in a financial year and then they can cut the taxes right off the wallet, other than this there isn't any other way to ask for taxes even on government-issued cryptocurrencies. Also, OP is missing the digital Yuan that the Chinese government is developing. I guess the governments actually have realized the power of bitcoin and crypto and are going towards making state-owned crypto as there isn't any method to tax the bitcoin, so why won't they just make their own crypto and ask for taxes on it. if the government recognizes cryptocurrency as a valuable asset that can actually be used on the territory of the country, then each citizen must voluntarily declare his property and income. You can own any amount of Bitcoin and no one will know about it, but you will not have the opportunity to use it in real life. You must understand how the economic prosecutor's office does if it is discovered that a person has one income, and a person spends much more in everyday life, that is, he lives beyond his means. Actually if you don't convert your bitcoins to fiat currency then no one will ever know how much you are earning in crypto and also whenever you spend your coins then also there isn't any chance for you to get caught but the only condition is to never cash out your bitcoins. If you start paying huge amounts in cash by selling your bitcoins then you can get caught and also to be safe you can set different wallets, one for spending for day to day activities and others for saving your bitcoins because in case someone forces you to send your bitcoins then also you will be sending the bitcoins from your spendings wallet and not from your cold storage. |
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It is beneficial for the government to show interest in cryptocurrency. This may be one of the levers of power. By controlling the cryptocurrency, you can have a large income from paying taxes. Cryptocurrency is always expensive. Perhaps in the near future, more and more countries will enter their cryptocurrency and control it.
How can the government cut taxes on cryptocurrencies?? Crypto is decentralized and the official ones would probably be having an inbuilt code to detect the amount of funds that a person earned in a financial year and then they can cut the taxes right off the wallet, other than this there isn't any other way to ask for taxes even on government-issued cryptocurrencies. Also, OP is missing the digital Yuan that the Chinese government is developing. I guess the governments actually have realized the power of bitcoin and crypto and are going towards making state-owned crypto as there isn't any method to tax the bitcoin, so why won't they just make their own crypto and ask for taxes on it. |
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Well i see in the news that the virus will also scattered or pass one person to other because we are using physical money specially through coins it is more safe if we dont used money this time because of the virus, south korea is doing a good action to prevent virus to scattered that was their way of preventing or saving lives because if they still used fiat the virus will not gone easily.
I guess now it is the time to go cashless because then there would be many benefits of it other than preventing the spread of the coronavirus. For example Sweden is almost a cashless country with almost the entire population using either card to pay for their purchases or doing digital transactions with PayPal etc. So if every country would go cashless then I bet the spread of COVID and communicable diseases will drastically reduce. The step that South Korea has taken will benefit their country now and benefit the World in the future. In the past also a news article was there in which it was mentioned that China is washing its banknotes and disinfecting them but burning them is way cheaper. |
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I think only the person who develop the apps gets the profit from the ads and those who work on the app does not earn anything.
You are actually right, only the developers earn most of the money from these apps and only a handful of early adopters and the referral marketing partners earn money from these apps. The normal users only earn a fraction of the money from these apps and most of the income goes to the owner of the app itself. With an increase in the number of smartphones in the market, there is also an increase in number of people who are searching for ways to earn money online without any prior knowledge. |
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The ida of running on bitcoin isn't actuall ideal as i see challenges arising from that, considering the fact that bitcoin is highly volatile, loads of challenges will be faced with the fluctuations that goes with it. imagine having $100 bitcoin in you wallet and you set out on Uber adn midway the journey, bitcoin crashes leaving you will a value way below what your bills have already acumulated. it then becomes na embarrasement. i will not advise both firms to run on bitcoin
It will be good for them to have a payment processor in between them and a customer as then the payment processor will give them a constant amount after taking their fees/cut in between. I guess this will totally remove the price variation problem and also the companies would still be getting the constant payment after the ride and no price fluctuations. imagine having $100 bitcoin in you wallet and you set out on Uber adn midway the journey, bitcoin crashes leaving you will a value way below what your bills have already acumulated. The inverse also holds true in this situation also, because you will also be having more than $100 after the end of the ride if the price increases exponentially. So there are always merits and demerits of using a volatile currency, it is on to you to seek the merit or the demerit in the currency. |
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Allot of people are making investment in Bitcoin, even with the risks involved. Everybody want to own Bitcoin. Many have half or more than half of their portfolio invested in Bitcoin already, This digital currency is becoming almost common to all, when everyone owns a Bitcoin who then will care about it as it will be as common and a boring investment.
I believe this is a treat in the Bitcoin market value, could this actually bring down the market? Or it is a sign for feature increase in the market? Your thoughts are welcome..
If a lot of people are joining the bitcoin market then the price will always keep on rising and this is good for the future of bitcoin. The only problem in this scenario would be a mass sell-off in case of a market crash or when there is economic unrest in a country. Talking about bitcoin as a boring investment then I am absolutely sure that it isn't boring as compared to real estate trading or purchasing and holding gold for life. There are a lot of market fluctuations which are many times like rollercoaster ride and pretty fun to watch and in a bear market, it becomes annoying to see the price fall on a daily basis. |
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I would like to add to this discussion legal framework. Countries are now recognizing crypto currencies, and in Germany you can deposit your crypto money with the bank. You would have also to pay taxes on your income even if it is in crypto. It is too early to speak about independency from banks
I guess there will be a time in the future when banks and crypto will co-relate with each other and as you said the thing about taxes, so we will be paying taxes for sure but that tax would be probably like the tax currently on real estate gains, you would only have to pay taxes if you cashout your bitcoins and if not, then you can have a tax free life. But for now, there are a lot of problems for the crypto users that are trying to convert their earnings in crypto to cash via bank transfers in quite a lot of countries. |
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