Economic growth will be bound by the environment that the economy is based on, and obviously there is a finite amount of resources. Thus, even with whatever advancements in productivity, there will be a time that the economy simply stagnates.

Nobody knows when that will happen, it does seem very distant, but in reality I think it can be a lot sooner.

But that's really something that is in the extremely long term scope, in my opinion. Even if we're just talking about the short term, we've seen continued growth in most of the economy worldwide for a prolonged period of time now. It's debatable whether this is even going to be sustainable into the near future. A recession could hit hard in the near term, as a matter of fact. No one knows. But the economy would simply not grow steadily forever, that's absurd.

I think that there is really going to be a minimal impact that will stem from this.

Trading derivatives, options and whatnot is already happening at a large scale on a wide variety of platforms online. Of course, this is a mainstream institution that is showing interest, which is good, but it's serving speculators and isn't really providing any tangible services to the bitcoin community. I'd like to see tangible bitcoins being traded and settled instead of derivatives.

Even though that's the case, I think that we would continue to see spikes in institutional interest in the next decade in general. What really matters is community usage, still, to be honest.

LinkedIn profiles on the team page is deleted as well.

Anyways, there is pretty much zero chance that this project would be legitimate considering that they literally ripped off images of so called "team members" and took one step further - created completely fake personas, LinkedIn profiles, and telegram profiles for them. Definitely constitutes identity theft at this stage.

Nice find on the partnership as well. As a general rule, I always research about any partnerships before believing in any of that. Most of the times, the partnership is unconfirmed or just completely fabricated. Misleading advertising at best, but probably a complete scam.

Great finds.

They actually bothered to Photoshop all of the photos that they randomly took, which further demonstrates that they've got something to hide for sure. If a business is fine with doing such shady things like identity theft, then you shouldn't even take a second look at them.

BTW, just glancing over the site, they seem to be literally the same as freelancer.com, except they're trying to make a profit out of the idea.

Also research the project, especially the team, before you invest anything into it.

Not surprising at all, but it's definitely positive news for bitcoin as its practicality as a global currency is demonstrated.

The fact that bitcoin exists without borders and isn't even physical means that it's a lot more convenient for citizens in remote, economically suffering countries can have access to the same currency as everyone else easily. That's a huge advantage. Also, with an independent currency like bitcoin, you don't need to deal with a depreciating or collapsing local currency.


Exactly. People criticize bitcoin for being "too volatile", while fiat currencies are essentially consistently losing value. Bitcoin, even though it may be a little volatile in the short term (which has actually gotten a lot better as markets matured over the years) holds its value over the long term as it has a hard coded limit on the supply and a scheduled emission rate.

Thus, the argument that bitcoin can't be successful because it's volatile doesn't make sense - show them the purchasing power of any fiat, Bolivars, Zimbabwe dollars, USD even over time.

What are you suggesting is extremely unlikely.

Bitcoin is much more mature now and the markets are unlikely to see such sudden surges in price anymore, especially when we're talking about 10x gains. I think that what happened in the overheated markets of last year was extremely unusual to begin with. The Jan-April bull run of 2013 only lasted a few months, while this bull market has been going on for 1-2 years already and the big correction has come.

Besides, there is little point trying to correlate individual market events with events in the past and trying to reach a conclusion.

I think that bottom line is that we'll pretty much see only consolidation and sideways movement for the rest of the year. There is no bullish momentum right now in the market, and sentiment is bearish as. It's definitely not time to sell, however. Bear markets are just part of the cycle naturally, no point in panic selling.

It's very possible that this scenario will unfold.

However, I personally think that there will never be one single currency per se globally. I do believe that bitcoin will become more and more adopted in the future, and I do think that bitcoin could well be the de facto currency for all international trades on the internet or whatnot. But it's extremely hard to see that all fiat currencies will be abolished in 10 years time.

Bottom line is that bitcoin will at least see an increased role in the world economy as a store of wealth especially for those in countries with faltering economies, even if it doesn't fully replace fiat.

Bitcoin isn't a new economy.

However, it is definitely a currency that will have potential to play a big role in the future economy, especially the online one. And I can't agree enough with the statement that we're only in the early adoption phase where lot a lot of real usage and adoption of bitcoin is actually going on.

People still have doubts, and fail to realize the many problems that can be addressed through a decentralized currency. E.g., ongoing currency debasement of fiat. Even if we don't see fiat necessarily be replaced by bitcoin in the future, adoption should continue to go up, and we should see a nice niche that bitcoin serves, for online transactions, and for storing wealth as an alternative to fiat which is ever depreciating.

No. If your contract is terminated then pretty much you've got nothing to do with them, and if you do have a long period of zero or negative profits, your contract will get terminated automatically. Genesis Mining does the same.

It's not just that people's contracts are getting terminated, though. The minimum withdrawal is so high, and certain wallets are even in maintenance meaning that people left with a balance after their contract becomes unprofitable can't even withdraw what they have.

Again, we've said this plenty of times since Hashflare lowered all life-time contracts to 1 year deals without any input from users. Hashflare is shady and unprofitable at best. And unfortunately, there seems to be a ton of victims right now.

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BTW, a change.org petition does absolutely nothing if people don't realize that cloud mining sites aren't some sort of guaranteed passive income source.

No. Most of the deposits would be sourced from unidentified sources anyways one way or another, because they all come off exchanges. Can you say for sure that the coins that you receive on Binance or whatnot that you deposit to CEX is going to be 100% legit? Probably not.

But I think that the point is that you are able to show where your funds are from, and keep records of your purchase at LBC, so that if they do ask you for anything, you've got sufficient proof that you've done your due diligence. If you can ensure that your funds are legit, then there is absolutely nothing to worry about.

Of course, there is a risk at any exchange given that they write it in their ToS that they reserve the right to freeze your account if they suspect anything and ask for proof of funds. That's the risk that you're faced with every time you use a centralized service, can't do anything about it.

I honestly don't know whether he actually believes this, is trying to use his influence in order to manipulate the prices somehow, or even just trying to do a publicity stunt similar to that of John McAfee's to promote his services.

But whatever his motives may be, I think that it's definitely fair to say that there is absolutely no way (unless fiat all of a sudden went to the floor overnight, which is unlikely) that a new ATH will be set in this year, let alone a crazy $10k price.

The bearish sentiment is very strong, and based on previous bear markets we can conclude that the consolidation and sideways movements will continue to go on for at least until the end of the year. Bullish prospects are extremely small at this stage, not sure where he's going with such an ultra-bullish prediction. But who cares, anyways. We've seen enough from McAfee and Tom Lee.

Bitcoin is legal in India already though, is it not? It's a restriction placed on banks, it's not law that says you can't hold or trade bitcoin.

While I too think that the central bank's ban is very unfair, it's very unlikely that just because the benefits of bitcoin is put in front of them, they'll change their stance of the matter. They've probably already conducted extensive research anyways and decided for whatever reason that they want to restrict access to bitcoin and crypto.

It's definitely going to be a hard fight for the exchanges, but they really shouldn't be shut down just like that. Seems like the alternative for the Indian central bank & government would be to lift the restriction on banks dealing with BTC services and put a GST/VAT on top, which really isn't that better than the restriction itself.

Are you sure that you have sent the coins to the right wallet within poloniex? I.e., are you sure that you clicked on the deposit button for USDT, and not BTC or another asset that is based on the bitcoin network?

Usually, when people have issues with USDT deposits, it's because of them depositing to the wrong wallet altogether. If that's the case, your only hope would be poloniex support sorting it out for you. It's going to be a really long process.

If not, then it's very strange that it doesn't automatically show up. You'd just have to wait for the support, which is notoriously slow on poloniex even though the Circle buyout did happen (you could tell by the 1 week delay). There is no way of "officially" launching a complaint. Regardless of what really happened with your deposit, it's very unprofessional to ignore any customer of yours especially on such a large deposit for such a long time without any response. That's why a lot of users have moved away from poloniex altogether.

A degree of centralization will always be needed to provide certain services. Thus, I don't believe that banks will be ever become obsolete or be replaced be decentralized counterparts, however, in the future more and more can be done trustlessly without a bank imo.

It's definitely a pain in the ass when you try to send someone money, and your bank flags it for no particular reason. It can also be way more general, as all hosted bitcoin wallets can essentially be considered a "bitcoin bank" as well, and account suspensions often happen.

There is a large counter party risk that is involved when you entrust them with a sum of money, especially with them running unbacked fractional reserve in some countries. However, services such as mortgages would not be possible otherwise. Even if we see mass adoption of bitcoin as a currency, if someone requires a loan, they'll most likely still need to get it from something that resembles a bank, if not a bank (even if it operates under full reserve).

It's obviously good news that institutions such as this one are showing interest in bitcoin and just cryptocurrencies in general. However, it's probably not going to affect the average Joe that much, because their services are going to be tailored for the elite few percent of traders and more likely just other institutions.

Also, pretty sure that this isn't something that is yet confirmed. They are just saying that they may or probably will do this, there is no definitive ETA other than the mid-2019 rollout which is quite vague.

Anyhow, this trend of institutional investors and businesses entering bitcoin and crypto has been growing recently. This could potentially help bitcoin grow further in the next bull market, however, I don't really see it making a lasting impact honestly in the long run.

Firstly, I don't buy what the "panel of experts" are saying with the prices going up 18% in their forecast of August. Simply no proof, and the bitcoin market is just too volatile to put such a specific, discrete value gain/loss on it.

I agree that bitcoin will be used as a means of payment, as it was supposed to be used as in the beginning more and more in the future. However, it'll be hard to say that bitcoin will all of a sudden not be an investment. Even major fiat currencies such as USD can be viewed as an investment depending on the purpose that one uses them for.

The title is somewhat misleading of what the content actually states, but it's actually strikingly accurate in my opinion. Most cryptocurrencies right now are just here to gain investor funds and make the founder rich, while serving no apparent purpose or solving a nonexistent problem to begin with. I'm only confident on bitcoin going mainstream for the long run at the moment.

Wait, so it's been over two years and you still haven't got anything back from yobit?

Have they even replied to you at all after the one time that yobit's official bitcointalk account said that they would take a look inside your account? Either way, this is a crazy situation to be in, and especially with crypto prices going up so drastically, it's really a substantial amount that you owned that is stuck inside Yobit right now.

Hopefully you're able to get your funds back, but yobit honestly is just too shady at the moment to be considered anything but a scam - terrible support, deposit/withdrawal bugs everywhere, probably liquidity issues as well.

Just because you made a mistake by depositing through a contract doesn't mean that their address did not receive the ETH, nor is it an excuse for a 2 year delay (and counting).


don't even bother, there is too many cases. But people still decide to use them and ignore all warnings for some reason, which is sad.

But it has already happened.

Bitcoin is serving as an alternative to fiat to people in countries where their fiat currencies aren't necessarily the strongest (suffering from hyperinflation etc.), and also by freelancers and investors as an alternative to fiat.

What he's saying is probably true to them, because let's face it, which central bank would ever want to give up control? Bitcoin probably won't replace fiat altogether, but it'll definitely provide an alternative to fiat currencies which is contrary to what he says.

Heck, they might even come out with their centralized version of crypto. But that's just not the same as decentralized ones like bitcoin, which he is obviously extremely biased about by likening it to a casino, which is clearly a one-dimensional understanding.

We may see prices go temporarily above the $7k mark, but I doubt that this is the start of the recovery.

So if you are referring to a breakout as the start of the recovery or the start of the next bull market, then no, I don't think that at this stage we can say that is going to happen yet. There is simply still no momentum in the market, and the $10k resistance was proven to be very strong last time we tried to test that level.

I think that we may see a short term bull run though. I'm still not 100% certain on $6k being the final bottom of this bear market, because we've seen much longer bear markets on average. Thus, it's probably not a very good idea to be overly optimistic right now, although it's definitely a great time to accumulate and fill your bags.

I think that most people buy precious metals as a long term store of value.

And obviously, there is some point to it. Both silver and gold has been used as currency and have proven to be good store of values throughout history, while fiat currencies have depreciated. Your observation of older generations more likely to invest in these assets could well be because they've actually seen these precious metals be used as currency and they see it as "money" itself.

Also, with gold and silver there is pretty much no counterparty risk which is something that you don't get with company investments. But then again, I think that bitcoin would be a much better investment to make right now.

Obviously being a permabull in anything isn't a good idea, nor is it in precious metals. I think that putting all your wealth in precious metals is pretty much a stupid thing to do, but right now, prices seem to be bottoming out for silver and gold and they may be worth a buy.