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1381
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Economy / Economics / Re: Bitcoin bubble
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on: May 15, 2018, 08:12:57 PM
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I don't Believe or agree with the statement that bitcoin is a bubble because bitcoin have proof to be able to sustain it standard for a long time and again bitcoin has the capacity to survive beyond this generation and even the next generation to come, if you talk about bubble you talk of ponzi scheme on like bitcoin that is a currency.
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1382
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Bitcoin / Bitcoin Discussion / Re: Crypto faster & cheaper?
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on: May 15, 2018, 07:27:49 PM
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It has almost become a tradition in bitcoin market that once the Price go above $12000 the fee start going high I don't know what is the course of that and at that point transactions becomes slow and we will start witnessing a lot of unconfirmed transactions in the system, so it is with other altcoins also .
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1383
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Alternate cryptocurrencies / Altcoin Discussion / Re: All Alt Coins are a scam.
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on: May 13, 2018, 02:59:40 PM
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That is just an assumption or a statement born out of an aggrieved mouth because there are so many altcoin that has great potentials and are doing greatly in the market today e.g like ethereum is a good coin beyond just being just successful in the market ethereum stlll provide us with a much higher advance technology that house all other coins. So saying that all altcoin are scam is a wrong statement.
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1384
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Economy / Speculation / Re: Will bitcoin cliche $36,000 price by the end of next year?
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on: May 13, 2018, 02:45:44 PM
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Despite the fact that it very difficult to predict the Price of bitcoin in the future but the way the market is appreciating this recent days the possibility of bitcoin becoming $6000 is possible because the Market is greatly going to triple very soon so we keep looking forward for a great days in the Price of bitcoin.
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1385
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Bitcoin / Bitcoin Discussion / Re: Future blockchain
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on: May 13, 2018, 02:40:40 PM
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The blockchain is on the way of becoming the world first digital bank where all transactions will be done through the blockchain network and again once you have an internet connection and a blockchain network you are good to go in carrying out you peer to peer transactions so the blockchain network is the foundation of all crypto currency transactions.
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1386
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Other / Beginners & Help / Re: Why buy and store bitcoin , some opinions from me!
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on: May 13, 2018, 02:30:12 PM
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The most reason why we keep or store bitcoin is due to the fact that holding bitcoin for a long time increase your chances of gaining interest on your investment and again since bitcoin is a store of value having bitcoin most times gives you the right as part of the bitcoin network having great assets that it price is equal to none in the exchange market.
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1387
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Alternate cryptocurrencies / Altcoin Discussion / Re: Patience is the key
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on: May 12, 2018, 06:35:36 PM
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Investment generally require our patients because any investment progress need time and time require you being patients enough to wait, so the key to success in crypto currency investment is patients because in the crypto market there are slots of challenges that require your patients if not you may end up losing your investment to a slide change in the market be patient enough to wait and hold for long.
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1388
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Economy / Economics / Re: Is Bitcoin Money or Currency
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on: May 12, 2018, 06:29:39 PM
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mon·ey (noun)
- a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
---
cur·ren·cy read as ˈkərənsē (noun)
-a system of money in general use in a particular country.
So, is bitcoin money or currency?
The above definitions are one sided and not wide enough to cover other aspects that accommodate both bitcoin/cryptocurrency and gold because aside currency being defined as a medium of exchange in a particular country, what about the definition that state a currency as any thing that is use to make payment for goods and services? |
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1389
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Bitcoin / Bitcoin Discussion / Re: Opportunity to sell for bitcoin
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on: May 12, 2018, 06:20:44 PM
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It a bad choice to sell your personal stuffs in other to buy bitcoin, well life is all about taking risk so if you feel the only way you can invest in bitcoin is by selling your car,PC,or house then you have to do so as long as you have other alternative to those stuffs you are selling because after investing in bitcoin you still need rose this such as the PC to monitor the progress of your investment.
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1390
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Bitcoin / Bitcoin Discussion / Re: Bitcoin VS. GOLD
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on: May 12, 2018, 06:15:27 PM
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Both bitcoin and the gold are all store of value it relevancy depends on the values that is place on them and what make such value available is the services such commodity perform e.g bitcoin is a store of value and at the same time a store of value but the gold in the other hand umis just a store of value so with this bitcoin is much higher the gold base on my own personal opinion.
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1391
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Bitcoin / Bitcoin Discussion / Re: What will happen to bitcoin in the near future?
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on: May 11, 2018, 08:05:32 PM
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Bitcoin is very hard to predict but I totally agree with this your analysis if bitcoin is able to go beyond $12000 then we should espect a sharp growth within the short period to come but if bitcoin fall bellow $8,000 then we will still keep witnessing some further price correction in the future and may be before the end of the first quarter of the year the Price correction will be over and the Price will recover again.
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1392
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Economy / Speculation / Re: Bitcoin cannot be reached 20000$ this year??
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on: May 11, 2018, 07:56:01 PM
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Why not bitcoin can even rise beyond $20,000 before the end of this year 2018, the question you should ask your self is how much was bitcoin by this time last your 2017 and how long did it take for the Price to rise to the amount the year 2017 ended with. Bitcoin is very volatile and it operates on the economic law of demands and supply so at that when the demands go high the Price will also rise.
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1393
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Bitcoin / Bitcoin Discussion / Re: Learning Cryptocurrency in Universities?
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on: May 11, 2018, 07:51:38 PM
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I will be great to learn cryptocurrency as a course in schools because that will give the students a better founder on knowing all about crypto, how it works and way to maximize profits from cryptocurrency and it advantage to our financial life and how it help better the economy of any nation. So teaching cryptocurrency in the university is the best thing instead of teaching some entrepreneurial course that can never be practice in real life.
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1394
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Bitcoin / Bitcoin Discussion / Re: Will bitcoin destroy the world?
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on: May 11, 2018, 07:47:10 PM
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Bitcoin mining is based on very high energy costs and environmental costs.
One bitcoin =20 barrels of oil.
How many barrels of oil do you think the industry consumes every year?
10 barrels? 50 barrel?
Each year, the mining industry consumes more than 24 terawatts of energy, the equivalent of 13,239,916 barrels of oil.
Every 10 minutes, 12.5 bitcoins are dug up, meaning 20 barrels of crude oil have been reached since each bitcoin was dug up (not yet traded).
In other words, the amount of energy consumed by the global bitcoin mining campaign is 40 times greater than the amount of energy needed to support the Visa card network.
One bitcoin transaction = one American family USES electricity a week.
According to encrypt the currency analyst Alex DE Vries estimate an index, the currency trading energy consumed each year more than 24 tw, this is equivalent to total energy consumed each year in Nigeria, which has a population of 186 million.
Currently, about 300,000 bitcoins are traded each day. Each bitcoin transaction costs 215 kilowatt-hours of energy.
The average American household USES about 901 kilowatt-hours of electricity a month, which means that each bitcoin exchange consumes enough energy to make an American family comfortable for a week.
What do you think about the energy consumption of bitcoin?
Honestly I can figure out where this numbers is generated from is it that you base your analysis on just speculation and assumption or on a well research such because with the figure you put forward I don't think bitcoin could have survived to this present moment. Bitcoin mining is eco friendly and less energy consumption most especially the new advanced mining equipments. |
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1395
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Economy / Economics / Re: what is the future of virtual currency like bitcoin ?
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on: May 10, 2018, 08:52:44 PM
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Virtual currency is on the bent of becoming the world universal currency because bitcoin has provided us with a payment platform that is easy fast and secured and at that it is the best option when it comes to world economy and financial transactions because bitcoin/cryptocurrency has no limitations what ever that can hinder it movement across borders. I support the idea of paying bitcoin as a salary by companies and government.
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1396
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Economy / Economics / Re: Why people dump their Bitcoins ?
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on: May 10, 2018, 08:47:30 PM
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Most time the choice of dumping bitcoin is personal and at that it hard to say what exactly made them to dump bitcoin, but let me point out a few out of my personal observations. People dump bitcoin and move simply because they don't believe in the future of bitcoin so at that they are always prompt to cash out in other not to lose all.
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1397
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Economy / Economics / Re: How does bitcoin become a currency?
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on: May 10, 2018, 08:38:29 PM
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What ever made bitcoin as a payment method for online stuffs such as you have mentioned is the same that made bitcoin a currency, what is even a currency by the way a currency is any thing that is generally accepted as a means of payment for goods and services and that is the service bitcoin is offering us today. I don't believe bitcoin can ever lose it value because bitcoin is highly design to meet the transaction needs of the people.
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1398
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Bitcoin / Bitcoin Discussion / Re: How to Secure Bitcoins?
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on: May 10, 2018, 08:20:10 PM
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The best and the highest security in bitcoin is what I term personal responsibility due to the fact that no matter how secured a platform is once there is a lose in the mathematical codes any one can access which ever treasure that is stored in such platform and same with bitcoin. We must protect our personal keys once we let it out there is no amount of security technology that will protect our coins.
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1399
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Economy / Speculation / Re: Why bitcoin price getting low?
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on: May 09, 2018, 09:47:02 PM
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We should never expect a one way movement when it comes to the Price movement in bitcoin because since bitcoin is decentralized and volatility is also at play it will solely depends of the demands and supply of bitcoin to determine the Price movement of bitcoin, but at that the demands and supply of bitcoin is what control the Price and not any other hidden forces as always spread by fud who are always against bitcoin.
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1400
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: Can market go down now?
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on: May 09, 2018, 09:36:43 PM
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Even in January everything didn't just fall just like that it is a gradual process and it follows the demands and supply in the market once the demands start to decline then you will see the Price start falling and also when the demands go high the Price will rise high also so that is how the system works.
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