That would only be possible in the case of centralization, because, obviously, all money supply can't be left without control (at least now it is hard to imagine how that could be regulated). If the governments accept cryptocurrency (meaning actual crypto, NOT digital currencies) as an official way of payment - they will start looking for regulations to control it, track the movement of funds, and that would basically destroy the purpose of cryptocurrencies.
very true, without proper regulations from the government i doubt crypto will be consider as an acceptable global means of transaction, like it or not, regulations is important to curtail the activities of the influential people in crypto with huge amount in their possession, the government can not allow few individuals to have control of sizeable part of the space, it will bring a lot of problem, in essence there will be a lot of re-evaluation of the whole space if this will be consider.
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I think it is better if they don't give a time frame when eth 2.0 will be fully ready to avoid making people waiting for it disappointed, while it is very important for the devs to insure everything is working in accordance before launching it, it will safe many the disappointment whenever the expected date passed without the launch, things like this can't be rushed, reason why the delays will occur, people have to understand this.
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I know one of the rules of investment is 'invest what you can afford to lose' but what about the saying that goes No risk No gain' they say those who dare to take risk gain the most, not saying we should not be mindful of our investment and what we are willing to put in that wont hurt us too much, we can also be prepared for the risk involve and have a mindset of what could possibly go wrong, investment involves risk and anyone to gain and be successful with their investment they must be willingly to take the risk.
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It is always adviceable to save for a raining day, meaning it is always good to have some savings aside even if we are not investing in any project of assets. it is true there are many people who don't take saving very serious, they spend every penny they own as it comes, which is a wrong approach if anyone desire to invest in any asset, lets just say saving plays a huge role in the path to investment.
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I think the question is not about btc being the One World Currency but if the main purpose of its creation is maintained, how can btc play the role of a one world currency when it is been traded in the market for the highest bidder, btc was design as peer-to-peer decentralize digital currency for faster transaction without any third party interference! people are more interested in the usd value of btc than it main purpose, even the institutions that are accumulating btc are doing so for the possible fiat value they may gain the the future, so the idea of btc being one world currency is far-fetched i would say.
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I try not to pay much attention to the price ( but still keep up to date with what is happening in the crypto space just not to be left out on a vital information especially with regards to my investment) so I focus more on my job to distract me and stop me from checking coingecko every 5 minutes, understanding that this time is part of the market cycle and also necessary for the overall growth of the market also helps to ease the tension a bit, because it will help you understand the market will also recover at some point and make everyone smile again
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Maybe this time Elon will be positive about Bitcoin?
What difference does that make? Elon being positive or negative won't affect btc anymore than it has already done this past weeks, this time it won't be the same because he already lost respect many of his followers had on him, honestly, I really do not get why people still hold this guy and is words in high esteem, in any case, am eager to see what will happen when this talk eventually take place, maybe this is what will trigger the second bull cycle
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People have different approach to how they will manage their btc bag, sometimes it feels like given a precious asset away when you sell, however taking profit is very important and a big part of investment, holding is good but must have a set target 9r time frame when you must liquidate some percentage of your holdings and keep the rest, buying and selling is what keeps the market moving, if everyone buy to hold and no one sell then that won't be healthy for the growth of the market, besides when people sells new buyers will have opportunity to come in.
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Except the naïve people who has no clue about crypto and how it is suppose to function that will take part in this game of the nigerian government, is this the reason why they put a ban to bank direct involve in crypto because they want an opportunity to create their centralize crypto and sell it to the people or force it on them, how clever they must think they are, i know many Nigerians who are unaware of the whole crypro space will jump in just because it is coming from the government but they wont know some of the hidden strings attached, what a funny government.
but i think, for those that don't know anything about crypto, it will be a good start to be introduced in digital currency. and once they learn more about the existence of digital currencies, they will learn the difference and benefits of dealing with btc, and other alts over their govt digital currency. and with that, i think they can now easily convert themselves to be crypto users. and the govt cant control them when they start dealing with crypto because they cant. In a way you are right @AmoreJaz, this is more like an avenue for exposure for the millions of Nigerian citizens who have no clue what crypto is all about and especially those who are of the believe that anything crypto is associated with scam, I think with the introduction of the government own crypto it will give them a sense of security to be part of it, understand it and then make their own decision moving forward, what is most important right now is to create the awareness and make people understand.
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Bitcoin is the principle of money disruption, it has a purpose to demonstrate that we need decentralization especially in those nations that are oppressed by inequality and lack of opportunities......
And am wondering how this decentralization can bridge the gap of inequality experience in small nations as you put it! To me it will all come back to be the same old story, as it is, having btc or being part of the crypto space does not exactly change anything other than having control of whatever you own, it does not mean that money will be evenly distributed among the poor and the rich, right now in crypto, we have fewer group in control of the market and have the power to pump or dump it at their own convenient, and what role has decentralization play in this aspect? Has it stop few whales to own a larger percentage of btc supply? Or have the whole space wrapped around their fingers! No right, at the end of the day, it is like a vicious circle, it will bring us back to same spot.
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There is nothing wrong in investing in government controlled investment provided you invested in the right sector and getting something good out of your investment, before btc becomes a thing, this same government controlled investment has made several people billionaires in their own respective ways, it all depends on your understanding and where you choose to put your money, just like government controlled investment, btc investment is not without flaws as well, even though the space is not heavily controlled it hasn't stop people from losing money to scammers, you can't deny the fact that an unregulated space as this is not crawling with all manners of scammers, at this point, this space is all about survival for the fittest and that's something some people are not willing to go through, people are more interested in secured investment regardless if it is controlled or not.
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Are we on for week 2? Because i don't see the week 2 sheet updated yet.
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It is even strange that after 10 days of transaction the vendor now claimed the money was reverse and needs refund, I thought once the vendor/seller confirmed payment and that's it, nothing else can be done afterwards, and why the LBC are not doing any thorough investigation to know what happened in between that 10 days when the money was supposed to be with the seller? Since they have access to all details of the platform they can atleast make an investigation before coming up with refund solution, I have never trade in LBC but in binance p2p once you confirm payment and the coins are released to the other party I don't think their is much binance can do when there is a claim of reverse funds after 10 days of transaction, sounds all very strange to me. The customer support should have been your best shot to resolve this issue but it appears they are not very transparent too.
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Some countries now ban the use of Bitcoin, or banks restrict cryptocurrency transactions, resulting in an increase in the number of long-term Bitcoin holders. For example, in China, China prohibits the use of Bitcoin. If I were Chinese, I might be more anxious. Some ways can be found to avoid being caught by the Chinese government. I will consider putting it in a cold wallet. In this case, you can only choose to hold for a long time. After all, there is no exchange to trade, So will anyone give up Bitcoin?
If there are no other known alternatives to trade or use btc directly for transactions then maybe such people may consider given it up to avoid any punishment this might bring them, once a government of a country is determined to impose restrictions on certain economic activities in a country, they often try to make such restrictions very hard for anyone to penetrate or to bypass, they can use their power to frustrate the citizens into given up participating in crypto, if there are no possibilities to trade or use btc then whatbis the essence of holding! I think the only option is to relocate to a more crypto friendly country, for those who can.
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Greed, some of the dev sole aim is to make quick money and not to develop a project that will actually benefit anyone in blockchain, have you ask yourself why we have countless numbers of rug pull projects, hack projects and the likes! Some hack are inside job done by the team themselves, and the sad part is that this shady team can create several other projects like this in the market because most of the project have anonymous team without no identity, it is definitely disappointing to say the least, it is very hard to trust altcoins especially new upcoming ones because you never know what their true intentions are.
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I got a message from my UK bank saying they will no longer allow payments from debit/ credit cards to Binance. This is all to do with the UK FCA ban but I thought it was not going to affect us being able to use the Binance.com site, seems I was wrong Binance will loose a lot of UK revenue if they do not become FCA regulated like Coinbase has done I guess that's something cz really have to consider if they intend to keep their UK based customers, this are some of the reason why regulations seem an inevitable part of crypto, Binance as centralized exchange and will have to comply with this fca regulations to keep their customers if not there will be a lot more people who will be affected and disappointed as well, this is a clear indication that crypto can not be successful without regulations involved.
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Such long list of what to do to be rich, and the most hilarious of them all is 'don't invest in women' not far from the truth though, if you plan to have your set goals achieved best to limit yourself from female because having them around would cause a great distraction The part to richness can be different for everyone, some people may follow this guide and still not achieve their goal, since am not rich but comfortable I wouldn't know such rules anyways, perhaps I may start applying them to see if their will be positive result.
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Depending on how trusting you believe the blockfi platform is, personally I won't trust my coins in such places I have no control over, besides I don't know what is the interest rate they give on stablecoin staking but I feel it is not worthy keeping your entire crypto funds because of some miserly interest, the best idea while taking profit is either sell to stablecoin and hold yourself until when the market correct enough to buy in again.
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So just how does the OP posting that Ricardo Salinas Pliego, the third richest man in Mexico, said that he hopes his bank will become the first bank in Mexico to accept Bitcoin. equate to saying Ricardo's bank is even considering much less saying they are about to, start accepting Bitcoin? Ans. It doesn't... The op only interpret what he wants to hear and not what is written down it seems, can't blame him though, everyone is always eager to hear the next big news that will happen in btc, let's hope soon banks will start given accepting btc a consideration, it will be such a big news that can make the btc price to surge really high, I hope with his influence his bank will start to put this into consideration.
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Maybe before when things were not very clear and blockchain was not in the picture to make people see reasons why banks should not be completely trusted, but not anymore, especially with personal data, am not sure how they manage the safety of all the data in their possession but it still makes me feel uneasy to know this, to safe keep my funds I can trust them to some extent, they still play a very important role in the financial system whether we like it or not.
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