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1  Economy / Speculation / Re: What is the price of BTC in 10 years? on: May 17, 2018, 05:09:19 AM
The BITCOIN, known as the currency of the new technology age, could be one of the best investments you ever made.

Gone are the days when it was only used for dodgy dealings on the Dark Web, now it is a serious investment for businessmen.

We heard only last month that if you had bought $100 (£78) of bitcoin in 2010 at the 0.003 per cent price, you would now be sitting on a whopping $72.9 million (£56.9 million) now.

And now we’re hearing over the next decade how the current price of the BITCOINcould rise from $2,200 (£1717) to $100,000 (£78,000), marking a 3,483 percent rise from its recent record high, CNBC reports.
This staggering prediction comes courtesy of an analyst who correctly predicted the cryptocurrency’s meteoric rise this year.

Kay Van-Petersen was behind the call made in Saxo Bank’s annual report called ‘Outrageous Predictions’, which forecast that the bitcoin would hit $2,000 (£1,560) in 2017. And it did, only last month!

Van-Petersen stresses that despite this being a rough calculation, his growth predictions could even be ‘conservative’, citing the rises of bitcoin’s value back in 2013 of over 5,000 per cent.
2  Bitcoin / Bitcoin Discussion / Re: Are Custodial Services Needed? on: May 17, 2018, 04:11:24 AM
What is a custodial service?

A custodial service is when an entity or individual holds a client’s property or money on their behalf.  The custodian is responsible for the safety of the financial products. If you are a custodial client, you are still the beneficial owner of the financial products but are held on your behalf by the custodian.

I think Bitcoin should be Custodial Services needed...
3  Bitcoin / Bitcoin Discussion / Re: What Caused the Boom in Bitcoin on: May 17, 2018, 03:40:36 AM
It started in 2008 when a design paper titled "Bitcoin - A Peer to Peer Electronic Cash System" was submitted by a Satoshi Nakamoto to a forum about cryptography. The first block ("The Genesis Block" or "Block 0") was mined in 2009. The first value it was given was 1 USD = 1,309.033 bitcoin (the exchange rate was computed by calculating for the electricity consumption that a computer used to mine bitcoin). The first transaction was in 2010.

As for how it became such a big thing, it was probably cause it was something new and exciting. And then as more people got into it, it got to be more popular. It remains to be such a big thing because of the tight-knit community that it has and the worldwide news that is spread about it everyday.
4  Bitcoin / Bitcoin Discussion / Re: Why so many Bitcoin users have fear of governments? on: May 16, 2018, 12:39:59 PM
In What Do We Trust?

Fiat is a term used to describe the conventional currencies that are issued by governments. Fiat  currencies have value because governments say that they do. To an increasing number of people, that promise means nothing. After all, fiat currencies are not backed by any tangible assets. You can’t return the currency to the government in exchange for a bar of gold or silver, a can of beans, a pack of cigarettes, or any other items that might have value to you. Fiat currencies are backed by the full faith and credit of the government that issued them and nothing more. If you want gold, silver, beans, or smokes you need to exchange your fiat currency with a person or entity that possesses the item that you want.

Why Control Matters

Governments control fiat currencies. They use central banks to issue or destroy money out of thin air, using what is known as monetary policy to exert economic influence. They also dictate how fiat currencies can be transferred, enabling them to track currency movement, dictate who profits from that movement, collect taxes on it, and trace criminal activity. All of this control is lost when non-government bodies create their own currencies.
5  Bitcoin / Bitcoin Discussion / Re: Bangladesh government banned bitcoin ? on: May 16, 2018, 03:23:36 AM
Bangladesh Bank has banned the use of Bitcoin, a virtual cryptocurrency, in Bangladesh by issuing a circular on its website.
The circular read that Bitcoin is not an authorised and legal currency in any other country in the world.
“Transaction with this currency may cause a violation of the existing money laundering and terrorist financing regulations,” the circular further read.
However, the notice does not carry any indication on how the regulation would be enforced.
The circular also said Bitcoin is not authorised by any regulatory authority and thereby its use may cause financial loss of the citizens.
“According to the information received from the internet and different news media, transactions have been taking place using different online-based exchange platforms including Bitcoin, Ethereum, Ripple and Litecoin.”

These virtual currencies are not authorised by any legal authority of any country and thereby no financial claims can be made against such currencies.
Besides, these currencies do not conform to Foreign Exchange Regulation Act, 1947, Anti Terrorism Act 2009 and Money Laundering Prevention Act, 2012, the notice also read.
So, the transaction of virtual currencies online with any unnamed or pseudo named peer may cause a violation of the above-mentioned acts and lead clients to face various financial and legal risks.
Under the circumstances, the citizens have been asked to refrain from performing, assisting and advertising all kind of transactions through the virtual currencies like Bitcoin to avoid financial and legal damages.
Meanwhile, a Facebook page titled “Bitcoin Exchange: Bitcoin Buy and Sell Bangladesh” has been opened in recent times.
A local website named claims that Bitcoin transaction can be performed in Bangladesh through Bkash, Rocket and other general banking accounts.

Bitcoin is gradually gaining popularity across the world. As a result, central banks of many countries have taken measures to adopt separate policies for Bitcoin.
Bangladesh Bank Deputy Governor SK Sur Chowdhury, in a recent seminar, said: “A committee will be formed by next June, by coordinating with various public and private agencies. The committee will work to find out a way on how to introduce Bitcoin in Bangladesh.
Bitcoins can be used for online purchase like other normal currencies. But governments and central banks work through the general currency system.
6  Bitcoin / Bitcoin Discussion / Re: Blockchain can help banks on: May 16, 2018, 03:15:09 AM
A Quick Overview of Blockchain
First, however, let us briefly review what blockchain is, for those needing a refresher.

Where conventional financial transactions are facilitated by centralized financial institutions, a blockchain is a decentralized system in which encrypted transactions are entered into a ledger that is shared by multiple parties. A greatly simplified explanation of the how blockchain transactions work is as follows:

1. The transaction is encrypted and added to a distributed ledger.
2. Multiple parties with access to the shared ledger verify the details of the transaction, without compromising the identity of those involved.
3. Verified transactions are added as a permanent, irrevocable part of the shared ledger.
4. The transaction is completed.

Because only verified “blocks” of transactions can be added to the ledger, there is no need to re-examine the authenticity of any transaction once it has been verified and entered into the ledger.

Let us now look at how blockchain is impacting the banking industry.
7  Bitcoin / Bitcoin Discussion / Re: Crypto VS national currency on: May 15, 2018, 03:31:37 AM
Cryptocurrencies attract a lot of attention at the moment and yet they are not the only ones to be in expansions. Local currencies are also experiencing a real boom.

The way Cryptocurrencies work is not that different from their cousins the Local Currencies and comparing them will help you understand what really is a cryptocurrency (and a Local Currency).

The objective of Local Currencies is to promote the development of local activities by creating a parallel economy where goods and services corresponding to a certain charter are exchanged against a unit of local currency. It has been demonstrated that 98% of the value created locally and paid in national currency (in euros for example) is recovered by Financial markets and markets speculation without benefiting to the inhabitants who have created it. By putting in place a local currency, the inhabitants of a locality (city or villages) decide to create an ecosystem separated from to the national economy which will retain the value created locally.
8  Bitcoin / Bitcoin Discussion / Re: This is a good time to switch off from the crypto market on: May 15, 2018, 03:20:45 AM
7 reasons why you should not invest in bitcoins, cryptocurrencies.

1. Extreme volatility
2. Neither commodity, nor currency
3. Don’t invest if you don’t understand
4. An unregulated space
5. The issue of legality
6. Ponzi schemes abound
7. Prone to illegal activity
9  Bitcoin / Bitcoin Discussion / Re: bitcoin: is it the coin of the future ? on: May 14, 2018, 06:03:53 PM
bitcoin base is the internet. Bitcoin is the digital currency it operates around the world. So the internet is very important for bitcoin.
10  Bitcoin / Bitcoin Discussion / Re: Can you wait to prove them wrong about Bitcoin? on: May 14, 2018, 01:09:36 PM
If whoerver that was creating that FUD had used any other thing its okay; at least anybody are free to say or think whatever they like but child's porn is a big NO. Some kids whom are still starting on with bitcoin may read another meaning to it.
11  Bitcoin / Bitcoin Discussion / Re: Will bitcoins be antiques on: May 14, 2018, 06:30:56 AM
Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever.

There is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank.
12  Economy / Speculation / Re: Reasons why Bitcoin is droping: on: May 13, 2018, 06:21:21 PM
The world biggest and best-known cryptocurrency slumped below the symbolic $10,000 threshold yesterday (Wednesday February 1), but its value crashed further overnight to about $8,600.

Bitcoin has fallen by more than 56 percent since the turn of the year, after peaking at nearly $20,000 in December 2017.

CoinMarketCap price charts show that bitcoin has been falling for weeks, though this latest crash has been blamed on mounting confusion surrounding the Indian Government’s stance on cryptocurrencies.
13  Bitcoin / Bitcoin Discussion / Re: Investment Strategy on: May 13, 2018, 12:49:43 PM
The key with making a profit strategy that's personal is to get to know ourselves. I've discovered over years of buying and selling, trading and now holding, making money and losing money, missing out on opportunities that cost more than everything else combined essentially that the best plan for me is something safe and simple, and that is from my own self-knowledge, and I realize that's not the right plan for everyone else.
14  Bitcoin / Bitcoin Discussion / Re: Opportunity to sell for bitcoin on: May 13, 2018, 12:39:35 PM
No. For me, I will not sell my stuff, to get bitcoin. I think I am with little capital for me is not a problem with getting bitcoin, because by way of trading for me very easy to get many ways to buy low prices and sell higher prices again.
15  Bitcoin / Bitcoin Discussion / Re: Best investment is bitcoin on: May 13, 2018, 04:06:24 AM
Only invest in BitCoin what you can afford to lose. Definitely people are making really good profits out of BTC trading / mining. But still you never know when this BitCoin bubble will burst and your all investment goes to ZERO.
It is always adviseable to diversify your risk, and invest in multiple crypto currencies (AltCoins), instead of putting your all eggs in one basket.
16  Bitcoin / Bitcoin Discussion / Re: Will cryptos be so volatile forever? on: May 12, 2018, 03:14:57 PM
Some crypto analysts suggest imposing wider regulation to control or reduce volatility, according to them, it helps market to mature and became more mainstream. I think there should be more volatility studies in the future to find if it can be controlled.
17  Bitcoin / Bitcoin Discussion / Re: So Bitcoin is King.. why is it?! on: May 12, 2018, 06:58:48 AM
Bitcoin is functioning as a payment system in Korea and Japan. I could even order food with it or pay the dentist nearby. It's fun to be using something nobody else does, it's a great talk at parties and a great speculative asset, just ask all those traders who made it their full-time job.
18  Bitcoin / Bitcoin Discussion / Re: Can FUD destroy bitcoin? on: May 12, 2018, 04:50:45 AM
No,I think NOT.
Bitcoin is the future of money and FUD can't destroy it.but FUD can get down the price a little bit.but can't destroy it.
19  Bitcoin / Bitcoin Discussion / Re: Will bitcoin destroy the world? on: May 11, 2018, 05:07:24 PM
Anyone is interested in knowing what financial system that's actually killing the earth, one only need to look at the ozone layer depletion caused by deforestation and falling of trees, which is still a major raw material for making paper (fiat) money - perhaps blessing us with floods and droughts, pollution, loss of soil fertility, spread of deserts,etc.
20  Bitcoin / Bitcoin Discussion / Re: Does bitcoin pose a threat to banks? on: May 11, 2018, 10:36:37 AM
No. Bank does his work and Bitcoin do his work. No one compare each one. They are totally different.
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