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1  Economy / Economics / Re: Why Cryptocurrency threatens governments on: Today at 10:47:25 AM
Over the years cryptocurrency  has evolved into a global currency but governments are trying to sweep it's relevancy under the carpet. We all know that the eyes of the community are now opened to the importance and blockchain technology.

What baffles me is why are the government making lives difficult by banning or limiting it's use? Is it because it threatens the political power or are they scared it will improve the global economy or force the traditional banks to reduce their ridiculous interests rate which we have been robbed of for decades now.

What is your take on this and what do you think will make governmental bodies to finally accept crypto?

I think that there are definitely some governments who have been pretty hostile towards bitcoin. But there are also some that are looking to regulate bitcoin services instead of banishing them from their nation, which should be acknowledged.

Anyways, I think that there are two main reasons why some governments decide to be hostile with their policy towards bitcoin.

Firstly, as you mentioned, some may think that bitcoin takes away control from them over the economy (which bitcoin really isn't able to do at this scale). But I think more importantly, some think that it's a threat to capital flight, and in countries with strict capital controls such as Iran, it's a huge worry for them.
2  Economy / Speculation / Re: When will the price of cryptocurrencies be stable? on: Today at 10:04:18 AM
I believe that this market has never been characterized by great stability, because unlike institutional markets, the crypto market has been much more susceptible to experiencing large inflows or outflows of capital according to the rumors or the emotional aspect of the investors.

And personally I do not think this will change much in the medium term, because the decentralized aspect of the market prevents it from being intervened by regulatory authorities that prevent the speculative manipulation of prices.

I don't think that crypto is more volatile because of the fact that its traders within the market are more emotional by any means.

It's just that the crypto market is something of a global thing, with no central entity to manipulate the supply of the currency in order to achieve various policies of their's. You briefly mentioned this, but I think this is the most important part. And in a sense, this inherent volatility of bitcoin is actually what makes bitcoin so advantageous as an independent store of value in the long run.

I honestly don't see prices being stable at any given moment in the future, because if it was stable, then it essentially means that bitcoin would be pegged to fiat currencies, which is actually something that no one wants and will not happen. Volatility may reduce in the long run due to increased adoption, but it will never be completely stabilised due to the speculative forces as well as the inherent inflationary nature of fiat, which it is being traded against.
3  Economy / Speculation / Re: Settled at ~$6400 for now? on: Today at 09:52:57 AM
Sure seems like prices have settled at this level without much vertical movement at all over the past few days.

I wouldn't get too excited and say that prices are set to climb due to it stabilising at this level, though. We're still not out of the bear market and probably will continue to see the sentiment within the market be bearish for the rest of the year.

We will most likely see some sideways movements at this level. Potentially, we could see a short term rally but that wouldn't turn into anything on a major bullish scale. More likely to occur would be a dip below the $6k support at some point this year, or if we're lucky, a long period of mostly non-volatile markets, even though that would be less probable in my opinion.
4  Economy / Economics / Re: The gap between poor and rich countries, a major impediment to global adoption on: Today at 09:41:33 AM
Undoubtedly, the acceptance of bitcoin is growing in a remarkable way, but most of the people involved in these field are people from Europe, Asia and America. For me who live in an underdeveloped country of Latin America I find it disappointing to see the little interest that people have in these technological issues, and the great ignorance that still prevails with respect to cryptocurrencies.

In addition, in these countries people have very few aspirations and do not seem interested in matters related to technology. And from what I see, in places like Africa, something similar seems to happen.

This type of educational, economic and technological limitations will only mean a delay for bitcoin to become a cryptocurrency of truly global scope and use.

All you need to access bitcoin is virtually just internet access plus any form of device capable of downloading a compatible bitcoin wallet and has the capability to connect to a network. And with the surge of internet adoption worldwide, even the poorest countries will have wide coverage for these technologies sooner or later.

Besides, countries in economic turmoil such as Zimbabwe, Venezuela and Turkey will be the first to appreciate truly why bitcoin is so beneficial.

When your country's fiat is collapsing citizens in that country will seek alternatives to move their wealth out of that particular depreciating currency, and bitcoin is one of the most logical choices to make in that regard. Thus, I think that sometimes the contrary of what you say is true. Bitcoin adoption may be most prominent where the management of fiat is the poorest, out of necessity.
5  Economy / Scam Accusations / Re: cryptogame24, crypto-home.info scam website on: Today at 09:37:09 AM
Now when I enter their URL, it redirects me to https://hollycrypto.info/.

Seems like the scammer is constantly changing their web address but their site still contains the exact same content in order to scam people. Did you get scammed yourself? How was the scam conducted from their part?

I feel like you may have been victim to a fake withdrawal scam, where someone approaches you saying that they need help with withdrawals, asking you to send them actual bitcoins while handing over their balance on one of those phishing sites. Obviously, you'll never be able to withdraw that balance from the site. Let me know if that was how they scammed you.

But either way, if any exchange asks you to pay for a membership and/or has gambling functions on their site, most likely they're scams. Regulated exchanges that are legit never do that.
6  Economy / Economics / Re: Marshall Islands warned against adopting digital currency on: September 17, 2018, 09:55:25 AM
We really don't have a lot of clues from this article as to how this crypto is being managed. Whether it is going to be some sort of centralised token, or it is decentralised. Is the value going to be free floating or pegged to the dollar?

I honestly don't see the reason why the IMF is so worried, though. Sure, the token might mean that the share of US dollars within the island may drop as a result of its introduction and daily use, but other than that, I don't really understand how it would affect the financial integrity or the country's economy negatively in any way?

I'm not a big fan of a country running an ICO structured sale of their token, though. Perhaps a distribution based on a pegged USD value without the "investment" element, whether pre-sale bonuses or whatnot, would make more sense.
7  Economy / Exchanges / Re: Is this bitplace.to a reliable Echange ? on: September 17, 2018, 09:43:33 AM
Any one have information about this exchange https://www.bitplace.to because I order for BTX buying and send required Bitcoins its more then 48 hours but have no coins and no reply from support now upset about my payment any vouch could be appreciated.

Avoid unlicensed, unknown exchanges like these.

There is simply no reason to use them given that there are a variety of other exchanges that are way more trustworthy than this particular site that you can register with, that are also well known/regulated.

This site is pretty shady, in my books. The reviews essentially tell me the same story, as all I have seen have been accusations from people who got scammed. If you already sent the BTC first to them there is probably not that big of a chance you're going to get it back considering that their site seems to be exclusively set up for the sole purpose of luring victims for a simple scam.

Don't ever use exchanges that you haven't heard of before, without doing due diligence. Stick to exchanges that you know are trustworthy and have previous experience with (e.g. Binance, Shapeshift (though not that convenient anymore with the accounts), or even localbitcoins).
8  Bitcoin / Press / Re: [2018-09-11]YouGov Omnibus Study: 80% of Americans are Cognizant of Bitcoin on: September 17, 2018, 05:10:58 AM
These figures are definitely elevated due to the target audience of this YouGov survey being US citizens with a computer and technical knowledge to actually be able to answer these questions. Slow death mentioned that if the survey was to be conducted in his country, the figure may be as low as 5%. And I definitely think that's possible.

I'm sure that around the world this figure is much less, especially in less developed, second or third world nations where bitcoin may not have entered the public consciousness yet. Also, some countries may have high awareness, but negative awareness due to public misconception of bitcoin and crypto as a whole.

I think that it's still a positive to see such high numbers, all in all. It's just that this number is likely not as high, but still climbing in other parts of the world. Also, I'd say that adoption, and global support of bitcoin that will be the most important and should be measured. People being aware of bitcoin, but not adopting bitcoin doesn't really say much.
9  Economy / Scam Accusations / Re: User Intaryna (@cryptowilie) has disappeared with my money! on: September 17, 2018, 05:00:08 AM
If the email that he's associated with as listed in the OP is actually his, then there are definitely obvious connections of this scammer's account with other accounts, such as Coinweez in particular. These services shouldn't be trusted.

But this guy is probably a professional scammer by the looks of it, since he's not showing any remorse but rather have even threatened you, which is obviously unacceptable. But there is honestly nothing you can do to get the funds back from him since you did insensibly send first without any escrow, and he probably does this for a living. Always remember that escrow is promoted on this forum for a reason, and you should use it in deals especially involving such contracts.

Also surprised that he hasn't be tagged, yet. Hopefully a DT member can tag him soon so that people don't get scammed further.
10  Economy / Scam Accusations / Re: MINING ROBOT.IO SCAM on: September 17, 2018, 04:53:33 AM
We do not want to show widely our team, we fulfil all our obligations and will fulfill them.

we are not a scam.

Doesn't really matter if you fix it now, even. All you've done at this point is pretty much remove the photos in an attempt to deceive people further.

You've shown the fact that you're willing to deceive your investors by performing something that is immoral and potentially illegal with stealing other people's identities to make up your team, in order to attract more investments and make yourselves seem legit. There is simply no excuse for that.

Also, as marlboroza pointed out - you claim to be able to provide up to 200% ROI per year which is ponzi-like. If you do not deliver on these promises, then it also constitutes misleading/false advertising. Either way, anyone with common sense would understand that what this project is is not anything legitimate.
11  Economy / Speculation / Re: I personally think bitcoin is bullish right now. on: September 16, 2018, 10:56:03 PM
I know people have been saying that since forever. This whole year people have been yelling ''bullish'' every day however, memes aside I truly think bitcoin is bullish. Obviously we are in a downtrend but I just find it funny when people lose their minds because bitcoin went from 7400 to 6700 in a day when in december we had $3000+ moves to the upside. No one was complaining back then huh? Technically speaking when you look at the weekly/daily chart you can see we are basically in a descending wedge which is, technically speaking, a bullish indicator. We have been forming weekly lower highs all year, however if the support area around 6000$ holds again this time, we will be in a really good position to actually break the lower highs, we would only need a 1000$~ move to break it for the first time in basically a year.

Not to mention the clear interest, governments/entities/businesses are taking in bitcoin. ETF's, Nasdq, etc etc, even if they aren't approved.

I still think that we've got some more space to go potentially before we finally hit rock bottom in this bear market.

And even if we already have established the bottom at $6k, it's very likely that we're going to see further consolidation at this level for at least several more months until the end of the year, before a recovery actually starts happening.

For one, market sentiment is bearish still, and even though institutional investment is coming in, people generally do not react that positively to bullish news in a bear market as they would in a bull market. For two, previous bear markets have lasted around 1-2 years before recovery, which is a figure we have not come close yet, so I doubt that we could consider BTC bullish atm. But a bull market will come eventually, and accumulation will prove to be extremely profitable in the long run if you do so at this price level.
12  Economy / Service Discussion / Re: DO NOT invest at Bitcoinvest.cc on: September 16, 2018, 10:17:55 PM
All I think is really needed here is common sense.

Is anyone really going to give you 20% per day ROI on your investment? Especially if it's someone that you don't even know the identity of, how are they able to generate more returns than actual wall street firms can only hope to generate in an entire year?

The reviews on the site are a dead give away as well, because they are just so fake and obviously are shills working with the scammer. Hopefully you learned a lesson out of this. Don't even try your luck with them. With such high rates of returns, these sites can be classified into two main categories : Outright scams, and ponzi schemes. Neither is legitimate.
13  Economy / Economics / Re: Lehman Weekend: The Biggest Bankruptcy in American History on: September 16, 2018, 10:14:44 PM
It was like 10 years when Lehman Brothers collapsed followed by a global and economic disaster. But we have to thank that this event has happened otherwise Satoshi wouldn't created Bitcoin in the first place. It was the catalyst for him to invent a P2P currency without any intermediary (usually banks), and to operate without any government's intervention, thus decentralization.

Personally though, I was affected by this event, was laid out after September 2008 and was out of job for about a month. I was caught by surprised because there's some assurance that we wouldn't be affected, but damn we are totally wrong.

How about you guys, you directly affected by it? Do you think that if Lehman was saved by US government, Satoshi wouldn't push to create bitcoin? Or it is inevitable? The man himself will release it with or without the financial meltdown in 2008?

Fortunately, I didn't really get affected by the event, but couple of my friends did (which seems to be common judging by the replies here). And I can recall pretty much that the news about the crisis was all that certain TV news stations played at the time.

Satoshi could have definitely released bitcoin as a response to this, but we honestly will never know. I personally think that he would have still developed and released bitcoin regardless of whether the GFC came or not.

But it's a warning for sure. The fiat economy is fragile in so many different ways, whether in the debt fueled property bubble, hyperinflation, or a range of other things. Holding bitcoin could prove to be a pretty useful hedge against these collapses/events in the future, imo.
14  Bitcoin / Press / Re: [2018-09-11] Stern Professor Says Bitcoin Will Hit Zero After 70 Percent Drop on: September 16, 2018, 09:45:39 PM
Bear markets don't lead to assets dropping to zero, otherwise, all stocks would have been long dead now.

I think that his primary point that he's trying to make that most cryptos are worthless, which is true for a lot of ICOs. However, bitcoin is not one of these coins as it actually gets practically adopted, has the trust of the community since it's the first crypto, and is decentralised. No idea why anyone would expect BTC to go to zero realistically.

As they pointed out bear markets are nothing special and generally bitcoin does decline quite a bit before recovering in the next bull market. The professor here is exaggerating this drop by putting it way out of the context of historical bear markets with the same magnitude that has recovered. And it makes sense that they do recover, as adoption is still increasing, and institutional investors are also on the increase.

Quote
Nowadays every news portal is trying to get readers with either one of these " BTC will go to 50k soon"  or " BTC will be dead by next friday"

Pretty accurate.

There is no real, sensible analysis of bitcoin price in mainstream media overall at this point because of the fact that it does not grab attention of readers. These extreme, illogical predictions are what gets clicks. That's why i think we've got so many of these predictions that if you have any sense of the market, will know that it's not true.
15  Economy / Economics / Re: Is there any chance of having one global currency? on: September 16, 2018, 09:22:29 PM
Could you see a future wherein the entire world shares one global currency, be it fiat or crypto? If I think it in a scifi kind of way, it would most probably be some digital currency that could all just use. It doesn't even have to be in this century. Maybe the next?

Of course. It could already be a possibility right now given enough adoption into the bitcoin network. There's already the means to do it in the form of bitcoin, all that is required is an increase in adoption worldwide to the point where bitcoin can be used worldwide without having to exchange any currency.

Obviously, that would be a pretty utopian view by our standards and probably won't happen any time soon.

More likely than not I think that if there was to be a global currency, which is a likely possibility in the future at some stage, it will still be issued by some sort of central entity, potentially a world central bank of some sort.

The other more realistic possibility is that bitcoin will not replace fiat currencies outright around the world, but rather be a globally accepted alternative to fiat. It's still a global currency, and it holds value wherever you go without having to exchange forex. But I don't think that in that bitcoin as a parallel global currency scenario you can say that it's the "single" global currency around the world.

But hey, anything could happen. Bitcoin could become the dominant currency for international business over the internet, as some sort of niche. We don't know at this point other than the fact that BTC is capable of being just that.
16  Economy / Economics / Re: The Fall of Fiat: Could Community Currencies Be The Future of Money? on: September 16, 2018, 09:17:48 PM
I have been casually studying Austrian economics for the past 6 years and I came to the conclusion many years ago we need a system, instead of using government and central banked pieces of paper we should all create our own community currencies to be trade peer-to-peer without intermediaries. I came across the very interesting article today on Steemit. It will be great to get feedback on it:
https://steemit.com/cryptocurrency/@tinyearth/the-rise-of-crypto-could-community-currencies-be-the-future-of-money

What are your thoughts on bitcoin, and other 'global' cryptocurrencies?

They're also decentralised and not associated/affiliated with fiat currencies issued by governments, but obviously they operate at a larger scale than the localised, community based currencies that you seem to be interested in.

To me, these global decentralised cryptocurrencies are the most interesting compared to community issued ones as they could facilitate international transactions with a unified currency like never before - saving on efficiency, cost, while being a global store of value. I'd be interested to hear your take on the benefits of community currencies compared to bitcoin. I mean, individual communities can still adopt BTC and benefit from it, and potentially enjoy more stability in the long run in their currency of choice.
17  Bitcoin / Press / Re: [2018-09-14] Coinatory: India is studying the implementation of the blockchain.. on: September 16, 2018, 09:10:49 PM
India, as a country with a high level of development of the IT industry, constantly shows new results on working with blockchain technology. The capital city of the Indian state of Telangana will be a blockchain district. In addition, in September last year, the state authorities of Andhra Pradesh announced the conclusion of an agreement with a company that provides cybersecurity WISeKey to protect the data of Indian citizens using the technology of blockchain. Recently, the Reserve Bank of India has formed a new unit to study new technologies, including blockchain, cryptocurrency, and artificial intelligence.

Read more: https://coinatory.com/2018/09/14/india-is-studying-the-implementation-of-the-blockchain-in-the-framework-of-cooperation-with-brics/

Aren't they also planning on releasing a national crypto or something along the lines of that?

Seems like the government of India is currently interested in blockchain, but yet, they're not supportive of bitcoin at all which makes no sense.

Their policy of restricting banks from dealing with bitcoin businesses simply don't make sense to me while they are trying to adopt all this blockchain technology into corporations and a national crypto. I understand that they're trying to take the centralised route of development, but not accepting decentralised cryptos into their economy will only mean that they themselves lose out in the long run.
18  Economy / Speculation / Re: Crypto Market Will ‘Absolutely’ Grow 1000x and More on: September 16, 2018, 09:07:53 PM
Changpeng Zhao, the CEO of Binance better recognized as CZ, has said that crypto still has room to grow by more than a thousand times in the years to come.
What you think about this news?... News link( https://www.ccn.com/binance-ceo-zhao-crypto-market-will-absolutely-grow-1000x-and-more ) from ccn.com

I mean, it's possible.

Given that fiat currencies around the world will be on a constant decline due to the government debasing the currency, it would be no surprise in the long run if decentralised cryptos held up its value against such depreciation, leading to a rise in nominal value. Besides, demand for bitcoin should increase drastically as well.

However, it's hard to see this happen in the short term like he claims, "in years to come". More likely than not widespread adoption isn't going to come any time soon at this stage, and a rise 1000 fold currently does seem quite an unrealistic figure for the short term given that we already experienced a pretty big bull market last year.
19  Economy / Web Wallets / Re: blockchain.com still not utilizing Segwit? on: September 16, 2018, 09:40:04 AM
Nope. All the while they're trying to revamp their site and add new features, while this promise that they made way back has not been fulfilled to this date.

Honestly not surprising at this stage, they already have a pretty bad reputation. Besides, as others have mentioned the ownership of the company have probably been a contributing factor as to why other altcoins have been implemented while Segwit, which should be implemented before any of the others do, has not.

Either way, I'm not using blockchain.info again and haven't since the early days. There is no advantages whatsoever with using them compared to using Electrum, GreenAddress, or other wallets that do support Segwit, and offer more control over your coins in terms of ease of management of private keys than blockchain.info.
20  Bitcoin / Press / Re: [2018-09-11] Chinese Cryptocurrency Traders Use Tether and VPNs to Bypass Ban on: September 12, 2018, 10:19:49 AM
Since bitcoin transactions and the network itself is decentralised, it essentially means that there is no means that a government can take to completely shut down the usage of bitcoin in a particular country.

China already has tried to ban ICOs (which may actually be positive given the state of the ICO market is in right now) and exchanges, as well as getting Wechat and Alipay to flag and suspend accounts. But none of this is going to be a completely foolproof way of stopping people that want to use bitcoin from using bitcoin. Bans can happen but the enforceability of such bans are going to be extremely low.

I guess that's the ultimate advantage of decentralisation in bitcoin, that governments cannot exert ultimate control over the entire system, and that the supply of the coin is hard coded so that again, governments cannot debase the coin.
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