102
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Bitcoin / Bitcoin Discussion / Re: Bitcoin vs Venmo
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on: August 24, 2018, 05:17:36 PM
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Venmo vs. Bitcoin Venmo is a service of PayPal that allows anyone to send money via Facebook, phone or email, and has seen impressive growth, particularly among young professionals and social media users. In fact, over $2.1 billion has been transacted over Venmo, which integrates with Facebook and its 1.5 billion active users. Additionally, Venmo is also planning to steal Bitcoin’s thunder in another arena by integrating with PayPal’s merchant services, which have supported bitcoin payments since spring 2015. “The social component (and free marketing) helped Venmo go viral,” explains Techcrunch. “When you go out to dinner with a friend or share a cab or go on a weekend getaway and want to split the bill, Venmo is almost always the easiest option.” Read full: https://news.bitcoin.com/paypals-venmo-beating-bitcoin-p2p-payments/Why would we be interested in a centralized solution?
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103
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Economy / Economics / Re: Banks admit they fear BTC
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on: August 24, 2018, 05:15:47 PM
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I think banks will soon come up with a mechanism for lending individuals crypto-coins. That is, They will issue bitcoins, and we will pay for them with Fiat money. On the one hand, this is a good opportunity for us to buy bitcoin in installments, but we will have to pay more % and Commission. This segment will remain for the banks.
Anything that makes it easier for the people to buy and hold bitcoin will be a big step towards worldwide adoption.
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104
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Bitcoin / Bitcoin Discussion / Re: Why Bitcoin isn't a legit currency.
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on: August 24, 2018, 05:13:18 PM
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This bitcoin actually hasn't been formalized into a currency. that's why until now bitcoin cannot be said to be a legitimate currency, to make these changes takes a very long time because this is related to the banking system and there will be a change in a market that concerns the unit price of this bitcoin. but for me bitcoin is better already a legitimate currency.
Why would a decentralized currency need to be formalized by official instances? If it is being used as a currency it is a currency in my opinion.
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105
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Bitcoin / Bitcoin Discussion / Re: Fees have been low after Segwit's growing adoption. Thanks Segwit.
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on: August 24, 2018, 10:05:33 AM
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Definitely. The mempoor can definitely be flooded again like we had at the end of last year, but chances are it definitely will be less flooded due to the increase on SegWit adoption(unless we see a significantly bigger hype compared to last year's). It really surprises me how many people and services are still not using Segwit though.
Even the Blockchain.info(now .com) still doesn't support segwit. Like what the hell? It is strange that blockchain.com is still not support SegWit, they announced that it would be this year - but seems they are to busy with adding BCH and by changing the domain. Roger Ver was one of owners, maybe he have some influence even today - by what that service takes as its priorities, it is not hard to see what is going on there. SegWit will be tested only when next big BTC pump is start, but it is nice to see that almost 50% of all transaction is using SegWit. Since fees are too low most users do not see the difference and advantage of using SegWit, but when time comes they will switch to cheaper option. I think Ver and bch are indeed the reasons they are holding the segwit adoption back at blockchain.info.
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106
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Bitcoin / Bitcoin Discussion / Re: Bitcoin is a Permissionless, Decentralized Firearm
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on: August 24, 2018, 10:03:55 AM
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Bitcoin is a Permissionless, Decentralized Firearm: Cody Wilson is Satoshi Nakamoto The path to a cryptocurrency revolution might just run through a sleepy Austin, Texas industrial park, home to offices of Cody Wilson and his company, Defense Distributed in the United States. Parallels exist between downloadable files from a website, allowing users access to 3D printable firearms, and a permissionless, decentralized, censorship-resistant medium of exchange. If the world’s most powerful government succeeds in preventing Mr. Wilson from engaging in basic speech, hold on to your electronic wallet because it could be next.
Permissionless is bullshit, how many warehouses of ASICS , Do you Have? Decentralized is bullshit, Chinese Miners have over 51% majority. Censorship-resistant, for the moment, unless you piss off the Chinese Miners. Should Cody Wilson be allowed to Place plans on how to build a 3d gun on the internet, Hell Yeah! (But be aware the US has not been a free country since the corrupt bastards enacted the Income Tax System in 1913.) (Any country where the TSA will molest your children & wife & you at an airport can hardly be called a free country.)When did chinese miners do anything with this 51%? Oh wait never.
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107
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Bitcoin / Bitcoin Discussion / Re: Didier Drogba Ambassador for cryptocurrency,implications?
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on: August 23, 2018, 02:48:44 PM
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It is true that the personalities of certain individuals can influence others to take a decision ,either in investments,choice of dresses,etc.The striker's involvement in cryptocurrency will sure have a positive influence on cryptocurrency especially his fans.
Every bit helps, but I don't really see drogba as the ideal candidate or anything..
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108
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Economy / Economics / Re: Different between Cryptocurrency and Banking sectors
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on: August 23, 2018, 02:46:24 PM
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That's right if you save money on the bank Your benefits will be low but you will not at risk for that savings, If you want to invest in cryptos, it can give you a high return, but with high risk, anything that has a high-interest rate will be risky and depend on your luck.
Usually banks will only refund so much of your money if the bank were to go bankrupt, i.e like up to 100k max refund.
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110
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Economy / Economics / Re: ETF rejected
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on: August 23, 2018, 02:31:39 PM
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Fuck yeah! satoshi listened to my prayers? BTC is going to $100,000+ with or without ETF, but without an ETF it will be slower and TPTB continues amassing BTC by extending the bear period. The only reason all these phantom derivative scams are allowed is for them to manipulate prices in their favor.
I wouldn't be so sure on that, bitcoin is supposed to be a currency, and if one bitcoin is worth like 100 $, then its not a good factor, it maybe good in terms of how it looks, but in terms of long term usability, its not. BTC being worth 100k or more wouldn't be a problem and it wouldn't stop btc from actually being a currency, we have decimals to take care of that.
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112
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Alternate cryptocurrencies / Altcoin Discussion / Re: A man in UAE took six figure loan and lost 85% of his crypto value
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on: August 18, 2018, 11:30:39 AM
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Crypthomie, a Reddit user identifying as a 32-year-old male living in Abu Dhabi, recently posted a photo of his repayment schedule pertaining to a six-figure loan that he took out on the 18th of December, 2017.
The Redditor borrowed 338,000 dirhams (roughly $126,500 USD), with a total outstanding amount of 393,296.80 dirhams ($147,200 USD) including interest from Emirates Islamic Bank. The document outlines a repayment schedule of 8194 dirhams ($3067 USD) monthly until December 14, 2021.
The investor wrote: “Here is my bank installment related to the loan I took to invest in crypto. Still three-and-a-half years to go until I’m freed. Until then, I’m working for nothing and I’m at 85 per cent loss. I hope it gives you a lesson.”
Some of the people are being harsh here. The man took his shot and lost. More than most of us sitting here diversifying our pennies sure not to make anything. I respect him. He may have been reckless but he had balls. He hasn't lost anything yet, I don't know what kind of investments he made, but things can turn around.
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114
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Bitcoin / Bitcoin Discussion / Re: Bitcoin is independent? or depends on fiat currency
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on: August 18, 2018, 11:18:52 AM
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Bitcoin was created to provide independence from Government control to the users. But I think it is not so independent.
It depends on fiat currency especially the Dollar for it's valuation.
My question is ; we are measuring it's value in dollars. So is not it true that Bitcoin is dependent on fiat currency for it's existence?
Please share whatever views you are having.
Kindly correct me if I am wrong.
This does not make sense, your house and car are valued in dollars, but they are not dependent on fiat.
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117
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Economy / Speculation / Re: Has Bitcoin reached its goal?
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on: August 17, 2018, 03:38:35 PM
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Still not.. The BTC goal is to be used worldwide by EVERYONE! This is what it is designed for... But we're still far from that use, so we need some years more. Just be patient.
And to add to that the initial goal was for bitcoin to be used as a currency.
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