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Civil unrest has seemingly affected the supply and demand for Bitcoin over there. If I'm not mistaken, doesn't China hold the largest percentage of Bitcoin in the world? This was apart of a talk along time ago, when people were afraid of a 51% attack or something along those lines?
It was years ago before all of the upgrades to the blockchain were made.
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I've been using dex exchanges like ddex, switcheo. They asked to connect wallet through metamask or trust wallet, I'm an android user so I'm using trust wallet to use these exchanges, i wanted to ask when we connect our wallet to a specific exchange is there any possibility to stole funds anyhow?
Not by a longshot are they safe. As a matter of fact, I just ran into trouble on TopBtc exchange. Couldn't withdraw for the life of me. Never invest your whole stake into a wallet. Almost cried when I couldn't withdraw, until my funds were released a day later.  |
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Why most of the projects these days prefer IEO over ICO? , what were the lacks in ICOs that crypto needs IEO? What should we choose as an investor? Which has lower risk?
ICO's are too risky, and ripe with scams. There's little, to almost no protection for investors, so if you don't handle you're do diligence properly, you could be getting robbed, not just from being an investor but as a bounty hunter as well. IEO is an Initial Exchange Offering, if binance is a host for launching an ICO, wouldn't you have more confidence that you're funds are in better hands, hence, less risk involved than with a traditional ICO with no accredited institutions backing their fundraising. I would be sketchy about all coin offerings, but at least I can be assured of a exchange is involved, you have security on your side (to a degree). |
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I was just having my cup of tea and watching the ongoing Ashes series... a strange thought came to my mind.
All of us know that one of the main advantage with Bitcoin is that it can't be counterfeited. On the other hand, counterfeiting is a major issue with fiat cash.
According to some estimates, the sale of counterfeits and pirated goods are worth $1,700 billion per year, and the sale of counterfeited banknotes is worth $250 billion.
Is it possible to use this technology to prevent the counterfeiting of bank notes? Don't tell me to install microchips on all the banknotes. We need to keep the manufacturing cost below $0.10 per piece. I thought about it for 2 hours, but no practical solution came to my mind. Do you guys have any suggestions?
I'm not 100% sure, but I'm guessing the goal of the future of our digital age, is to move to a cashless society, as this would save a lot of unnecessary headaches from trying to rebrand notes for tracking and whatnot. If everyone has a smart device, there will be no need for physical cash, the introduction to debit & credit card payments prepared us for this moment, gave us a taste. Let's talk hypothetically for a second, just for argument's sake. Take Facebook, for example, they are getting ready to launch Libra, after the long drawn out debilitating process of going through the regulatory motions for a co-sign! If it goes off without a hitch, everyone in the world who has access to Facebook will have access to a cryptocurrency. Searchs for " What is Bitcoin?" and "What is cryptocurrency" will skyrocket. Sounds beautiful to me, unless you be a Luddite (to each his/her/(insert pro-noun's) own. If even half of those people have a smart-phone, they can get started with cashless trading right away. What happens next most likely will result in a boom, almost overnight. You'll see Peer-2-peer cashless trading, albeit transparent, but cashless trading. Just my two cents!  |
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I’ve been into bitcoin since 2014. I’m a true believer. But Peter Schiff has some good points on the Crypto Trader debate from yesterday. The main thing that really stuck in my mind was that gold has value outside of simply being a store of value. It can be used for jewelry, machines, etc. so because it has real world value, no matter what, it will have value. Someone will always need to pay $ for gold to use it for jewelry or computers. Bitcoin on the other hand seems to only derive its value from what one person is willing to pay another for it. If one day the heard flocks to another crypto (“flippening”) bitcoin doesn’t have any other use case and could be worth $0. You can’t make jewelry or computer parts with it. I have to say...I don’t think Anthony Pampliano properly defended this point. Maybe someone can help I convince me that this was a good point?? https://youtu.be/Wigz8z6Vm3UHe strikes a hard bargain, a very convincing argument, but he fails to hit his mark. Gold indeed is quite "tangible", it's use cases are numerous. In this case, the use case can be considered as "utility". In order for Bitcoin to work, takes a big cooperated effort, and several functionalities to derive its intrinsic value. It would fall flat on its face if not for the clever consensus of "Mining", which incentivizes the efforts of network participants, something easily agreed upon (consensus). Without a risk/reward system, not only value but interest would be easily lost. "Scarcity", "Supply & Demand", and "Utility" is what gives Bitcoin its natural intrinsic value. The rest is hearsay... Just my two cents |
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Hi,
So Bitcoin has issues like speed of transactions and energy consumption.
As there is no 'team' behind bitcoin, how is it going to develop and make sure it is always competing with newer coins?
There are alot of coins resolving these issues and people are buying into them, but why if bitcoin is considered No. 1 ? Is there a possiblity the new coins could be linked with bitcoin or that future bitcoin 'integrates with them and their technology which therfore increases their prices?
Trying to understand this universe!
Thanks in advance
L
Bitcoin is an open-source code project, while there isn't any centralized authority behind it, there are many contributors who help maintain the project so it can be up to date and functional. Bitcoin is number one because it is the foundation of the whole scene. It was Satoshi Nakamoto's proof of concept for demonstrating the blockchain use case. Bitcoin is the pillar that all other cryptocoins of today cast their molds from (hence, why the whole project is open-source to begin with) It is the prototypical cryptocurrency being the first of its generation, Ethereum being a second with the introduction of the smart contracts. the real beauty behind everything is the unity that brings all walks of life together in this digital age. |
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I'm back, I recieved my balance in full though almost a day later. I wouldn't recommend using this exchange if you're in a hurry, too many inconsistencies.
Overall, chances are they aren't scammers and are a real exchange. they just need to revamp their services. KYC is needed to withdraw, too bad They don't tell you anywhere on the site until you try to withdraw.
Just here to give my follow up.
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Has anyone successfully withdrawn recently??
Or other new info about that exchange??
I am unable to withdraw my Ethereum. This was my first hand at arbitrage, sadly it couldn't have gone any worse, I had no trouble depositing my coins, it was instant. The problems started when  , I could not trade ETH/SNT, when I decided to withdraw back to Binance, the transaction was pending, still pending and its been 6 hours. I want to give the exchange the benefit of the doubt, so I will be patient. I'll keep this thread posted with updates from my transaction, but there's a good chance my goose is cooked, bye-bye crypto. |
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Will there be a bounty campaign for Storecoin?
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Some bounties have more than 5000 people participating in their Telegram campaign bounty (My case study) with total $20,000 in token to be shared.
Mathematically, when we placed everybody on a flat rate 20000 divided by 5000 will give us 4. This means each participants shall earn $4 for the duration of 4 weeks or more.
This type of overloaded bounty participants also cuts across all other bounties.
Should the bounty managers limits numbers of participants ? Or what do you think can be done to encourage bounty hunters ?
You can work on earning more merit. More merit means better opportunities here on this forum, or try your hand at trading, takes balls of steel though to sit and learn the whole thing from scratch. I may be stuck at senior level, though I've been here for many years, I've learned that the merit system made it so you really have to grind to get good within the community and to reap the rewards on the solid campaigns. Many companies offer shitty bounty rewards on purpose for lower ranked members because of it's cheap labor, almost free in most case (ICO fails). The second reason why hunters are getting bum deals is because of having little to no understanding of what it is exactly they're investing their time and energy into. They're fooled by the thread titles of the campaigns, Example: "( BOUNTY) $$$$$$$$$$$$$$$$$$ BIG PAYOUT$$$$$$$$$$$$$$$$$, JOIN SHITCOINS-R-US/ NO KYC, $100,000.00 CRAP DROP(AIRDROP)  !" Most of the projects hunters join are clones or are a bad investment from the beginning. Due Diligence would help hunters sort lot of shit coins out from the real promising ones. The projects team, their direct communication with their community, a solid white paper, an innovate spin on a blockchain concept (not a clone project), a believable roadmap and a working product are just a few of the necessities to look for when bounty hunting for a plausible campaign. |
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For people living in drains in the third world it could unlock their access to online economies and by extension eventual cryptoness.
There's nothing that stops them from using crypto now, yet they choose not to, so even if they will adopt Facebook coin, they will be unlikely to switch to true crypto later, just like people today still use Google and not DuckDuckGo, Windows over Linux and so on. The only way Facebook will have an edge is if they will create marketplaces that use their coin or make existing ones adopt it, things like freelance sites, online auctions and other, but people need to have some good reason for switching from their current methods to Facebook coin, and I don't see what could it be. The thing that is stopping mass adoption is a Ludite mentality, and a knockout interface that every one from the kids to granny can use. If I wanted to explain to my grandmother what a cryptocurrency was, and the whole Blockchain and all of its implications, she'll fall asleep as soon as a say consensus. If I use an anology by explaining crypto using an interface like Facebook (which is familiar and tangible, from the young, to the old), the concept would be easy to grasp. Picture what Facebook coin will do for the Instagram (Facebook owned) crowd. Instagram is quite the hot commodity, who hasn't had a guilty pleasure and fancied a glance at the yogapants gallery?  Forgive me for my immorality. |
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The FATF is planning to publish guidelines for cryptocurrency oversight on June 21st. This is notable because the G20 has affirmed its intention to enforce these guidelines in their own countries. The guidelines will apparently require exchanges to move beyond customer KYC and begin collecting information about the recipients of withdrawn funds. Countries that don't comply by forcing these rules upon exchanges can be blacklisted by the FATF, essentially turning them into banking pariahs. Bloomberg reports: On June 21, the Financial Action Task Force -- a multi-government effort that develops recommendations for combating money laundering and financing of terrorism that’s followed by about 200 countries including the U.S. -- will publish a note to clarify how participating nations should oversee virtual assets, FATF spokeswoman Alexandra Wijmenga-Daniel said in an email. The new rules will apply to businesses working with tokens and cryptocurrencies, such as exchanges and custodians and crypto hedge funds.
Much depends on how the rules -- long governing traditional bank wire transfers -- will be interpreted and applied by country-specific regulators, but they are “one of the biggest threats to crypto today,” Eric Turner, director of research at crypto researcher Messari Inc., said in an email. “Their recommendation could have a much larger impact than the SEC or any other regulator has had to date.” The guidelines will require companies ranging from exchanges Coinbase Inc. and Kraken to asset manager Fidelity Investments to collect information about customers initiating transactions of over $1,000 or 1,000 euros, as well as details about the recipients of the funds, and to send that data to the recipient’s service provider along with each transaction.
While that may sound simple, compliance will be costly and technically difficult, said John Roth, chief compliance and ethics officer at Seattle-based exchange Bittrex, which has about $58 million in daily-trading volume. After all, wallet addresses on digital ledgers supporting cryptocurrencies are largely anonymous, so an exchange currently has no way of knowing who the recipient of the funds is.
“It’s either going to require a complete and fundamental restructuring of blockchain technology, or it’s going to require a global parallel system to be sort of constructed among the 200 or so exchanges in the world,” Roth said. “You can imagine difficulties in trying to build something like that.”
A handful of U.S. exchanges are discussing how to set up such a system, said Mary Beth Buchanan, general counsel at San Francisco-based Kraken, which does about $195 million in daily volume. Just how soon these consequences start to hit home will depend on the individual agencies. Groups like the Financial Industry Regulatory Authority (FINRA) are expected to start to vigorously enforce the rules. Financial Crimes Enforcement Network (FinCEN) recently issued interpretive guidance that looks similar to those being considered by FATF. Some state agencies could follow suit, raising the risk that non-compliant businesses will lose money-transmitter licenses.
If a country doesn’t comply with FATF rules and is placed on its blacklist, “it can essentially lose access to the global financial system,” said Jesse Spiro, head of policy at crypto investigative firm Chainalysis Inc. Link to the full article And so it begins, I don't know who it was that called it, but I distinctly remember them saying that 2019 would be the year of regulation for crypto. I guess once they iron out rough parts, confidence might build and hopefully we will see more healthy growth within the market. The chances of an ETF passing at this rate this year, seems pretty good, I hope so before the end of the year. I know the bear has alot of people feeling down, including myself. Eerily similar to how the wild west was won, one regulation at a time time. |
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WSJ: Facebook Crypto Project Seals $10M Investment Each From Visa, Mastercard, Paypal, Uber Facebook has allegedly sealed backing from over a dozen firms that include Visa, Mastercard, PayPal and Uber for its soon-to-be-unveiled cryptocurrency project. The news was reported by the Wall Street Journal (WSJ) on June 13. Source ostensibly familiar with the matter told the WSJ that the firms — extending across the finance, e-commerce, venture capital and telecoms industries — have each invested around $10 million in a consortium that will govern Facebook’s forthcoming digital token, dubbed Libra. The WSJ’s sources reiterated details that had previously surfaced in regard to the highly secretive project, notably that the social media giant’s forthcoming crypto will allegedly be a fiat-pegged stablecoin, pegged to a basket of national fiat currencies to avoid price volatility. https://cointelegraph.com/news/wsj-facebook-crypto-project-seals-10m-investment-each-from-visa-mastercard-paypal-uber It sounds like Facebook coin or whatever they're going to call it, is going to take the world by storm. Just imagine the implications of crypto being educated to the masses. They certainly have the leverage, I wonder what they've been planning up to this point and what consensus will it use? What kind of blockchain approach will they try, or maybe they're creating one from scratch? Will it be decentralized? I'm on the edge of my seat. |
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Time to do something about the few whales who keep cheating everyone out of their life savings.
Let's do a fork and take anything over 10BTC away from those big addresses and redistribute it fairly to everyone. It is ridiculous and totally ruining everything when one person has 1000s and can mess up the order book on a major exchange. Where is the fairness in bitcoin?
We have to end the whales who are out of control.
I think the whales are the reason that the SEC has been hesitant to approve any of the Bitcoin ETF proposals made this year. The market is too easily manipulated hence the fake volume on the exchanges and market indexs |
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Hello All,
Since the cryptocurrency depression starting last Feb, many of us have reluctantly held cryptocurrency
seeing it fall over and over again. But HODLERS' resolution has kept it from falling further.
Should people who have held cryptocurrency continuously not rewarded suitably?
One way was to fork which have stopped happening , even when recently ethereum forked it did not
give rewards but just an improvement for stability. How does crypto community expect those who are mining
to survive in such conditions?
The other way was margin trading which continuously bring down deposit in form of fees.
Not sure if cloud mining reward options are still in place.
Wallets like Nexo expect stablecoins !
The only people who are always on profit were crypto exchanges.
Where are equivalents to dividends and interest to survive and compete with dollars and share markets.
Are the cryptocurrency economists awake or the discipline is yet to come out of infancy?
Sounds like an SEC nightmare waiting to happen. Anything crypto related involving securities (dividends) is subject to the U.S governments wrath. Then you have the Treasury, the Commodities and Exchange commission. It's a headache and a half. Of course, if it's legally compliant, registered and approved to go, then it sounds like a great idea, as there is nothing wrong with earnestly recieving passive income. |
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We know lot of Altcoin on the markets with different prices. How you determine which is most potential coin? What method are you using? Few people's are thinking those coin price growing well its potential coin. Do you think same?
I don't think that price growth could determine potentiality of coin. For me, I determine potential coin by uses. Its true few coins growth is good enough even there is no uses. But it's only temporary or by manipulated. But if you choose potential coin which have uses and team are too active to develop their platform then it might give you good returns on future.
So before invest on any existing coins you should determine which is potential coin and how it is. Don't just compare growth of price for alts.
What's your thoughts about it? Let's share knowledge and correct me if I am wrong.
Disclaimer: I am not a financial advisor or legal representative. For any financial or legal advice, please seek you're local professional.
I think the utility of the coin is the most vital aspect one should pay attention to. The team of the project, their long term goals, the specifications within their white paper, and the roadmap are all esential. The community will also make or break the foundation of a coin. |
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Possibly the institutional investments. It seems like Bitcoin is becoming more stable within the market. The high swing volatility is becoming more predictable. People are going all in but with due diligence this time. |
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Bitcoin will always be foundation, if not for Bitcoin l, there wouldn't be an Ethereum. Ethereum revolutionized the integration of smart contracts. It will always be Bitcoin 2.0 to me. |
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Goodnight all,, In May, which ended yesterday, I got a pretty good profit in trading ETH and BTC. About $ 600 in almost a month. Do you experience the same thing when market conditions continue to improve. Share your experience, to make more enthusiasm in trading. Thank you very much.
I'm not an experienced trader, still learning the ropes, but those are some nice gains brother! I usually bounty hunt a little. I've been trying to practice my due diligence as of late. When I first started using the charts and graphs on the exchanges, It looked like a foreign language to me. I guess I have a long way to go. |
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