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how they happen and how you need to pay attention to safeguard yourself against them.
The Computer Science saw a different phase when cryptography mechanism was introduced with Bitcoin. With this big of a change, threats of fraud increased, to safeguard from these malicious activity is extremely important. Startups without blockchain should not be trusted at all. Before committing to any company, their credentials should be reviewed.
There are many fake ICOs that can scam people easily. The best way is to do research before being affiliated to that exchange. Another way is to send an email and ask about the exchange to be cautious. Phishing is another way to scam people, by asking their details and asking them to invest their Bitcoin or any other cryptocurrency. Fake Airdrops and Punycode are most common tricks.
There are many unregulated brokers that can lure clients in lower prices and trading products and fast returns. So, one needs to be vigilant. The automated trading systems are not scams but they will take any opportunity to earn profits. Exchanges will charge an unfair amount to withdraw, the best way to avoid is to already be aware of exchanges price differences.
Fake emails look so authentic but at the end they are still fake. Check every bit of information before acting upon it. Many companies copy and paste some other company’s whitepaper, rather than having an original idea of their own.
Most exchanges use fake information for their team members. To be careful one must look for incomplete or inconsistent information and odd details.Inconsistent texts or details on any part of the website is also a red flag. One should read and proofread to be sure.
People should run scans to look for any Bitcoin miner or bot in the system. Companies will do anything for money, to ensure safety and security right websites should be used. There is a lot of responsibility one needs to practice in order to be careful.
I think this is one of the points of improvements for bitcoins and cryptocurrency. The security and the purpose of the bitcoins to avoid using these for illegal activities that could do harm to others. Aside from the possibility of being frauded, I’ve read somewhere that many pedophiles from across the globe use these to buy pornographic movies. These movies star a minor, a little girl, sometimes a little boy and would feature inhumane activities. Sometimes, they trade human inner organs and pay using these as well. I think as users of this, as we promote that this could be the future, I think we should keep in mind that this we have responsibilities when handling these. |
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The thinking of new peoples who wants to invest in coins, they first of all want to know the benefits, security, alternatives and effect of invest in their lives.
Several of peoples doesn’t have enough knowledge of coins who are in already in market, some of coins are includes in this time.
There are several things that might be known for make invest for make batter future of their family:
#Great Security
#High risk=high benefits
#future primary money or alternative?
#One world currency
#It will be legitimate tool to whole world
#affect to democratic country’s economy?
I think cryptocurrencies are of big help. Especially now that life is fast paced life and the less personal contact, the better. It has opened doors to different business ventures that sometimes went to the point of illegal. This, although, does not mean that cryptocurrencies are bad. It would just depend on the person handling and using them. However, bitcoins are not that inclusive, especially to those who are not equipped in terms of technology. This creates some sort of boundary between the people. There is already a societal gap, we don’t need more means to add gaps between the people around us. I think the future for bitcoins are great, they just need more improvements, for example like security purposes. And that it could cater to a wider range of people. |
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How do we measure the level of utility that can be derived from using a specific payment method?
For this example let's suppose that the level of utility a payment method can offer is measured as the relationship between monetary value transacted vs. fees paid.
If we apply this to bitcoin, we can see how "efficient" it can be under certain scenarios. Minimum fees/transaction are desired.
For this example I'll set the sat/byte fee as a constant of 193 sats per byte. Amount of money (in monetary value) intended to reach the recipient can be any constant.
For a (very) standard transaction of 250 bytes, one would spend 0.0004825 BTC.
At a hypothetical price of $7.000 per BTC, the cost of the transaction would be $3.3775.
At a hypothetical price of $9.000 per BTC, the cost of the transaction would be $4.3425.
And so on...
We see that bitcoin's utility as a payment tool has an inverse correlation with bitcoin's market value.
If the market price of BTC goes up, fees for transferring the same value with bitcoin become more expensive.
My question is, can this be fixed, especially in a way that doesn't compromise decentralization and bitcoin's immutability?
And should it be fixed in your opinion?
As much as cryptos and bitcoins are in fact reliable and practical and fast. There are areas that still need the proper introduction for using this. Many use it for their everyday life and find it convenient and accessible. Using cryptos and bitcoins have their added service fee, although I could see some are free especially for small transactions. |
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As I read in the news, back in 2019, JP Morgan did state that BTCs are fraudulent. Now, hae apparently changed his mind and now opened his bank to cater to bitcoins and cryptocurrency. I think this is good because well at least, the company and its management is open to progress in terms of services, to who it caters to and what products it provides. It’s really progressive and I think a little bit more time JP Morgan can expand more and more on his services. |
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A recent report says that being a lack of traditional financial of Africa makes it good for cryptocurrency adoption. Per the report, cryptocurrencies such as Bitcoin (BTC) can potentially solve all the aforementioned challenges Although it is a diverse region, African nations share some key similarities and trends. Economic problems, from high inflation rates and volatile currencies to financial issues such as capital controls and a lack of banking infrastructure, create a fertile ground for an alternative to germinate. Source: https://cointelegraph.com/news/bitcoin-may-be-the-solution-to-africas-broken-financial-system/amp
Do you agree that bitcoin would be a good idea for Africa?for me, adoption of bitcoin from Africa is a good idea, Africa has a big problem in terms of financial, they should do something to overcome those problems, one of the suggested ways is the use of bitcoin which is a really good idea, there are already many countries which are accepting the use of cryptocurrency in some of their transactions, it is way good better for fast and secured transactions compared to fiat currency. Africa is one of the most exploited areas in the world. This led its people to poverty. Poverty equates to lack of education, poor sources of income, malnutrition and so on and so on. If Africa would prioritize a technologically advanced mode of monetary exchange or making cryptocurrency as their national currency, wouldn’t the first question be, How? Solutions have to be inclusive. Yes, there are areas in Africa that are technologically capable and it can work in their country, but what about those who are not capable? Are we suggesting that this idea would close doors to the incapable and only cater to those who have the means? But does this also mean that capable countries stop in order to let the incapable keep up? No. What we need are inclusive solutions and I think bitcoins are not the solution to everything. It might be a solution for those who are capable, financially, technologically etc. etc. First, Africa is barely getting by day-by-day. They only have enough for food and a little clothing. Their priority is to put food on the table and not to spend so much money on a phone or a table in order to use it to buy and sell their needs. They would instantly think “If I had that much money to buy a new phone, then why not spend it on food, education, clothing and rent?” They don’t need cryptocurrency to reestablish their economy. They need better work opportunities by maximizing their local natural resources and being able to trade them within their region or even better, outside. Second, when using bitcoins or cryptocurrency in their everyday life, wouldn’t this expose them to the threats of piracy leading it’s people vulnerable. Let alone the possibility of terrorist attacks when they are able to use cryptocurrencies to buy illegal weapons. Third, this could open doors to a more creative way to do business online. Being creative could mean both good and bad. By good would mean they could use the advancement of the technology to promote their products online, for a wider range of markets and do legal business across the globe. This is good because this provides Africa the needed proportion and trust of the people that, hey, it’s safe and good to do business in Africa. However, there is a bad way to do business creatively. As we all know, there is a compelling rise in the exchange of online pornography, mostly children. We have to have an open mind of the possibilities of the business for each individual who has access to this kind of technology. I am not saying that it is online prevalent in Africa because there are cases like this in Europe, Australia and Asia. What I am saying is, let us not open more doors to this kind of possibility. There are cases when the child’s own parents trade their children online for a certain amount and this could happen. Africa is just more vulnerable because they are not equipped with the proper knowledge regarding these matters. To be able to fix Africa’s broken financial system, it has to start with it’s government, corrupt officials lead to a deteriorating nation. Corruption is one of the root causes of poverty, poor education , malnourishment, abuse and other domestic problems. |
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If I die, my family can use my death certificate to rescue all my money from bank and appropriate all my posses.
But not bitcoin, I was thinking about how to leave bitcoins as inheritence in a safe way, minimizing risks of be stolen by my own family (still if I trust my family, they can store improperly the keys and be stolen, or forced to deliver).
The perfect solution, in my opinion, is a mechanism whithout intervention that reveal my keys to my family, this could be done if I do not access some service for a month, or if I don't store some stuff in the blockchain for a month or ... I don't know a solution. And only my family could access my keys, possibly they have keys that allow then to access my keys.
An good solution could be some artifact, like a file, that I can send to my family, or left it stored online and thar artifact could reveal my keys only to my family.
My basic ideia is:
1 - Encript the keys with your password, but must be a very strong password, resilient to brute force atack.
2 - Print the encripted keys in paper or some more durable medium and store securely in your home.
3 - Reveal to your family a limited set of characters with wich they can sucefuly find the password using brute force, in a short time.
4 - If you die, your family must get into your home/safe box, get the encripted keys and use the characters to perform a brute force atack in order to get the keys.
Does anyone have think about leaving bitcoin as inheritance? Is there already some solution to this? Thoughts?
Remind, Covid-19 is over here.
Although it would be fairly smart to leave bitcoins as inheritance, many laws on intestate and succession would have to be then revised or repealed in order to cater to this idea. I am not familiar with the all laws of inheritance but because bitcoins are a new type of monetary exchange, creating laws for these would take several hearings, modification and various votings for the legislative body. Moreover, before they can even get to the point of hearing this in their respective congress, these lawmakers have to have extensive knowledge on this topic, the pros and cons. Keep in mind that there are many people to consider when taking this to congress and for them to actually hear it. |
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Six people were arrested in the Netherlands and the UK over a $27 million "typosquatting" scam, which involved making a fake website to gain access to user Bitcoin wallets. 5 man and 1 woman got arrested with warrant by the policeman at their homes Charlcombe, Lower Weston, and Staverton (UK), and Amsterdam and Rotterdam (Netherlands). They are really proffesional on accessing others account, there are many affected at least 4,000 victims in 12 countries and it still growing. “The investigation relates to typosquatting, where a well-known online cryptocurrency exchange was ‘spoofed’ – or recreated to imitate the genuine site – to gain access to victims’ Bitcoin wallets, stealing their funds and login details.” https://www.[Suspicious link removed]six-arrested-in-connection-with-27m-typosquatting-scam
Good thing is that, they had already caught those six people because if that thing does not happen, the number of being affected by the scam will grow continuously. That is how expert hackers and scammers are. So always be careful when visiting and trying some unfamiliar websites, always do research about it and read some reviews to assure yourself that it is legit. Illegal acts such as this, make us vulnerable everyday. It’s a good thing that the government of Netherlands is capable of tracing hackers and scammers such as this and I command their government. This just shows that we need to be careful everyday, make sure we change our passwords from time to time and make very strong passwords that are not easily guessed. This is another reason why we cannot be fully dependent on bitcoins because of incidents like this. One cannot relay all of their money to bitcoins. What if one day, for unfortunate reasons, your account was hacked and your government cannot trace the people who did it. You are left without anything. Let us all be careful everyday when going through transactions and let us make sure that we take all necessary precautions to secure our accounts. |
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I know...there are smaller marketplaces that people can buy/sell goods via bitcoin, but why a major marketplace is not emerging?? I know for a fact, there is a huge demand for purchasing of goods with BTC...even users from this forum is enough to give the marketplace a supply chain issue  1. is the problem in supply side? are sellers worried taking payments via BTC bcas of volatility 2. is there a logistically inefficiency, that smaller sellers can never compete with the likes of amazon 3. is the transaction speed an issue for retail transactions?? major cards payments are done instantly (maybe this speed is needed for impulse purchases  ) Comment below...thanks i'm a newbie here  Using bitcoins as their main mode of payment will exclude many people from buying from their website. Think about it, if you are not capable or you do not have the means to buy using bitcoins, what would you do next? You will then look for an online store which will cater to fiat as your mode of payment. Why does there have to be exclusivity? Different payment methods are introduced so that people will have the ability and means to choose, depending on what fits their capabilities and the availability. A store who is this exclusive will lose both sales and their clients. Second, many people have trust issues regarding this, people are afraid they might get scammed or their items will not arrive on time. Third, being solely dependent on technology for payments is really dangerous, what if when you really need the item, the current system you would be using is down, what if there’s a technical glitch, etc. etc. |
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This thread was created by me on the Romanian board and translated into English now for the international one.
I've been wondering for a while how the Romanian community of BitcoinTalk could be revived. I'm more than sure that we have a pretty significant number of Romanians on the forum. However, as far as I can see, most of them are silent.
Therefore, I have decided to create a topic about a vision on Bitcoin's future. I only have two simple questions I'd like to be answered: How long have you been in the crypto sphere and how do you envision Bitcoin in the short/long term future?
I am going to begin by expressing my own ideas.
The so-called 'journey' in the middle of which I am right now began in late 2013. I won't get much into detail - long story short, I found out about Bitcoin's existence through news.My perspective about Bitcoin has changed, unfortunately, negatively among these 7 years of experience. From the idea that Bitcoin could turn the economical and governmental systems of the world upside down, today I see it as nothing else but an obstacle the governments overcame long ago and for which they surely have a plan of attack so that it would never be a threat for them be it in the present or short and long term future. If until 2016-2017 there were no laws regarding cryptocurrencies and the law could be easily interpreted so that nobody knew for sure what they should or should not do properly about owning, using and transactioning them, today we have laws that appear as if they are opposing more and more the fundamental ideas of cryptocurrencies - almost as if the intention behind these regulations was to destroy them while using this entire time the "cryptocurrencies are used in criminal activities" excuse. This has changed, in my opinion, Bitcoin's destiny. If in 2015 I could peacefully conduct transactions anywhere with cryptocurrencies and ATMs did not have anonymity limits, today I feel taken over by the world governments' regulations that ruthlessly entered my personal, private life. The so-called "support" of cryptocurrencies by the states has proven, in my opinion, to be exactly the opposite. To be more precise, "sustaining" them has led to the resistance in front of genius Satoshi Nakamoto's essential ideas he began with. Through some kind of sabotage, the state could argue that being against the regulations means implicitly sustaining illegal activities. A kind of "Let us seize your personal life and control even this attempt of freeing yourself from the chain of wage slavery and criminal banks or we consider you a terrorist". Today we have all these surveillance measures. Some of them are partial surveillance, others are surveillance from start to end. While we are fighting the pandemic and the incredible influx of uncertain information, surveillance is taking over our privacy "step by step" as our president Klaus Iohannis says, privacy becoming therefore an idea, a definition from the past. Taking all the above into account, putting all the information in a nucleus, I can only get to one conclusion: Bitcoin's future will either have an abrupt and sad ending or will represent our revolution against the system of modern enslavery and against the flux of authoritarian and imposing laws we are witnessing right now. The existence of privacy-focused cryptocurrencies like Monero surely did provoke fear inside all the world's governments, but the volume of transactions does not appear to be a threat to them so far.. which calms them down. But if Bitcoin ever fails because of these governments and we'd all move to the privacy-focused Monero immediately, would Satoshi Nakamoto's vision still be achieved? Would we still be able to finish what he started more than a decade ago, trying to turn upside down the attempt of "those above us" to transform our privacy into a definition of the past? To me, the future is now uncertain. I will never give up, but I am afraid a significant number of apparent supporters of Satoshi's vision would, leaving us with no more soldiers in our war. I am afraid that too many of the ones currently supporting cryptocurrencies are only doing it because they have the hope of getting rich one day and are capable of accepting any sacrifice as long as their hope would become reality. But nobody realizes that the privacy we knew and our freedom are the wealth we've been taught to ignore for a lifetime. People always say that online and instant payments help but not everyone is able to use this type of payment in their everyday lives. I think a good perspective for future bitcoins is that one way or another, it is inclusive. Inclusivity matters if bitcoins are going to take over the world someday, otherwise, we are depriving many people of the simple means to buy their necessities. |
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In a new report predicting the decade of the 2020-2030s by Deutsche Bank Research, the bank says that the adoption of digital currencies is inevitable. Governments need to catch up or the backlash against fiat currencies will be too great to handle.
Deutsche Bank Research is posting its predictions for the next decade, which cryptocurrencies are expected to be a cornerstone of the economy in the world ahead of us. In a shocking admission, Deutsche Bank Research tells its readers that governments have to adapt to this inevitable reality or risk falling behind entirely.Source link hereOkay, so this is another prediction stuff. So many individuals, companies and institutions are predicting on what is going to happen with Bitcoin and other cryptocurrencies. Earlier, Bloomberg predicts that Bitcoin will reach $10k soon. Now, Deutsche Bank claims that within the next decade, it will be the real era of digital currencies. It means that fiat would “finally reach its end”. As for me, I think next decade would not be enough just yet for digital currencies to fully dominate, as most banks and people from around the world still prefer fiat more than Bitcoin, etc. Yes, all of us are free to predict about Bitcoin and other cryptocurrencies. But for me, they’re just predictions. This world is unpredictable, as what I have said over and over again in my previous posts. As much as bitcoins are making such progress in the past years and so many reports have said that many people already rely on technology to pay for their goods, I don’t think bitcoins will “fully” replace fiat. For one, not many countries in the world are equipped in terms of advancement in technology. Third world countries for example, although the majority of them have touch screen phones, they are only able to use it for simple communication and little bit of entertainment. Even if these countries have access to touch screen phones, not all of them have it because their priority is to be able to get by everyday. Sometimes, having a touch screen phone is the least of their problems. Second, third world countries are more comfortable with using fiat as many of their transactions involve stores that don’t even cater to online payments. Stores along the streets, mini grocery stores, public transportation, etc. etc. |
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There is a speculative (investment) presence in the current bitcoin discussion scene. Only known and used by a few people.
If bitcoin really wants to become a universal currency payment system, how can we optimize the design for ease of use and make it easy for most people to get started easily and with low risk?
I think bitcoin providers are trying to ease in the existence of bitcoins. Although bitcoins have become of big help to many of us, many of us still see the physical money as more convenient. Not everyone knows exactly how to use them, some are not trusting of the said currency, some are not equipped with gadgets to be able to use them and some are too old to start learning how to use “money” again. Physical money has always been the mode of every payment. The younger generation might adapt to it easily but the older generation might not. In this case, it may even cause a lot of confusion that may result to several delays, instead of a person handing the money now and getting their purchased item immediately. What if you need to buy something now and the system is down or non function right? There is so much potential in bitcoins but it would always depend on the person using it. |
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Just think about it a little. You know that whatever happens with your government controlled investment, you will have a safety net from that government. History has shown us how governments have bailed out Banks and/or injected millions or even Billions of tax payers money into economies to protect it. They are printing Trillions of Dollars to reduce the impact of this Covid-19 virus on their local economy and they are doing this with money that was supposed to go to critical needs. (Public Health care / Social grants for unemployed people etc.) Did Bitcoin get any support from governments when Stock markets plummeted lately? No, because Bitcoin is seen as the enemy.  We relish in the fact that Bitcoin is not supported by the injection of slow poison from these governments, because this cannot be sustained indefinitely. At some stage we will see that taxes would not be enough to save Banks and/or local economies. Companies and individuals can only pay so much taxes, until they go bankrupt. It is only smoke & mirrors to postpone the inevitable collapse of the global economy. Will Bitcoin then be seen as a real safe haven or will it be too late? People will look at your government as your biggest investor or someone who will have the means to protect the business financially. Another thing is that you know that when the government has control over the business, it will be unlikely that there will be abuse in terms of pricing of the services or the products being produced by that specific corporation. |
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6 trillion U.S. dollars will be pumped into the U.S. system alone, that is about $48,000 per family if distributed evenly (definitely not). What is your estimated impact on inflation in half year, 1 year, 3 years etc, and on Bitcoin?
I read from the great book "The Bitcoin Standard" that U.S. prints an average of about 7% more money per year and China prints an average of about 20% more money per year over many years., but the actual average yearly inflation seems to me like about half of those numbers. Is it false or something like improved productivity due to improved technologies, more efficient business models, or profits/wealth taken from other countries that keep the inflation much lower than printing money?
Thanks for any comment and discussion.
Printing so many bills will depreciate the value of dollars. This affects the value of bitcoins just the same as each bitcoins has a corresponding dollar value and when the value of the dollar drops, then the value of per bitcoin will drop as well. |
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Bitcoin transactions are transparent to all users while providing some sort of privacy because it's no easy to know which address belongs to who unless they let you know or that person involved in KYC which was not aimed. Blockchain aimed to go anonymous so people would have freedom financially
Privacy provides freedom, but Countries citizen fight against freedom of speech and forgot that speech will not give wealth financially, We Are and must fight against financial freedom in a modern way as Blockchain do until we all involve in Bitcoin and general cryptocurrencies.
I’ve read somewhere in a certain discussion here in this forum as well that the UK wants to monitor the Bitcoin activities and the US is proposing that there is more transparency in Cryptocurrency. I think what their governments are trying to exercise is their governance in this type of industry at the same time protecting those who transact and who you will be transacting with. I think it’s important that as a user of bitcoins you are able to preserve your privacy at the same time, give just enough information so that activities will be monitored. In this case, one will avoid illegal transactions. |
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I was reading a great article today on coindesk by Ian Allison that talked about Bitcoin's sustainability in this new era of climate change activism. It proposed an interesting question that because Bitcoin uses so much computing power to mine blocks, and therefore consumes vast amounts of energy, will it be sustainable in the long term? I would add a follow question to this of: Will or how greatly will this affect mainstream adoption going forward? I think this is a good time to reignite this discussion as climate change and activism has never been more prevalent.
My thoughts are that although Bitcoin uses a considerable amount of energy, when related to climate change and its impact on the environment it pales in comparison to other industries burning of fossil fuels, as well as deforestation and farming. Furthermore, because Bitcoin is reshaping global finance, I feel that it will be around for the long term.
That's not to say Greta Thunberg will ever approve of Bitcoin's mining rigs, but most people, business, and governments will understand Bitcoin offers a valuable technology, even in the face of tightening climate change practices and policies.
But what do you think?
If anything, as I’ve read in the previous discussions above, people are connecting climate change to the amount of energy that we use when trading, buying, selling etc. etc. using these bitcoins. However, using bitcoins does not as well lessen the emissions that would cause climate change. Mining of bitcoins use renewable energy, like solar energy which basically means that they use the energy of the sun to mine these. |
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Firstly this is not a promotion, nor am I encouraging you to do the same.
I have been using bitwage to collect a portion of my pay check in bitcoin and ether. I have been considering while the price is low to just go all in or at least bump my allocation to 50%( 50% BTC/ 50% usd). With the fed printing more money the more I feel inclined to do this. Dont get me wrong I'm still buying undervalued stocks right now, paying Bill's and also trying to live a decent life.
Question:
I was curious if given the opition would you or would you not get all pay in 100% bitcoin.
My answer:
For me 100% is alot, considering I'd HAVE to sell some to pay bills/ expenses and stocks. But if given the ultimatum of bitcoin or usd, you can only convert out of btc, never into btc...I'd take btc.
Bitcoins are great to use when you don’t have actual bills with you because the nearest ATM is broken or that you’re too busy to drop by the bank at the moment. Actually, with the current condition, where there is a pandemic and one of the fastest ways to transmit the virus is through physical contact by handling out objects, like money. Bitcoins are of great help for the no-contact. Bitcoins are good to store in your eWallet for emergencies or for other payment options. |
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In my country, they wanted something similar. The difference is they offered to pay a reward to anyone able to create a 'tool' to help them to analyze transactions. No matter who you are. I would prefer they hire me instead of creating software for them. profitability first! Governments won't keep using blockchain analysis companies forever, they will create their own employment. We will see a lot of very high paying jobs created in the years to come, someone with knowledge about cryptos, especially their blockchain, could end up working for the taxes department or police with a salary as high as a company owner with thousands of employees. The problem is not a lot of people have deep knowledge and when they have, they're already working for a tech company with a comfortable salary, making it harder to hire. The demand and supply. The UK government tracking bitcoins activity is somewhat a way for the government to trace in illegal activity that may be linked to sex slavery, prostitution, illegal subtance trade and other inhumane activities. Other than that, this is a way for the government to monitor taxes that will be imposed. We just need to be clear with the extent of information that will be given to the UK government. We need solid guidelines regarding the penalties that will be imposed if ever the UK government fails to do their job properly. This is very important as cryptocurrency is used by so many people and that we need to ensure that these are not abused and used in illegal transactions. |
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Governments have done enough to dissuade common people from using Bitcoin extensively. Being charged with operating unlicensed money changing businesses is a possibility if you engage in cash-bitcoin conversion.
Governments were caught off guard when many used bitcoins. Governments may not be able to stop something that is not in the law. There are no penalties to the emergence of bitcoins as there are no laws that would penalize them. Governments nowadays, should provide a law and provide concrete guidelines together with it corresponding penalties for violators and those who abuse it. In line with this for example, using bitcoins as a means to evade tax or use these bitcoins for illegal transactions. |
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Treasury Secretary Steven Mnuchin said on Wednesday that the United States will soon announce new regulations related to crytocurrency and digital payment systems. While he did not talk about these regulations, but it seems that they are aimed at tracking currencies and making sure they are not used for money laundering "or to make sure of imposing taxes on them," where he said: Financial Crimes Enforcement Network is preparing rules that will improve transparency and prevent cryptocurrencies from being used as “secret bank accounts.”
“We will be rolling out new regulations to be very clear on greater transparency so that law enforcement can see where the money is going and that this isn’t used for money laundering,” Mnuchin said. Read more and source ---> https://www.bloomberg.com/news/articles/2020-02-12/cryptoasset-rules-set-for-release-by-trump-administrationIt seems that the United States will spend more money to scrutinize Bitcoin transactions. This is a good move by the US government in Crypto transparency. I think many will appreciate the efforts of the US government in enabling its country to be more transparent and ready with the crypto emerging at greater heights. |
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Thaths all about transaction processing time. Of course, bitcoin is not the best payment system
From the discussions that I have read from this thread, I have to say that I do agree that bitcoins are more of a stored value rather than a currency. It makes sense as it’s more on mobile transactions, it’s a form of payment but not to be considered as a currency as there is a corresponding value per bitcoin. |
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