Even though CBDC has appeared in the midst of society, it does not threaten the existence of paper money. CBDC will instead add options for payment instruments that guarantee the public will be able to transact under any circumstances and will not eliminate the function of paper money.
The government cannot rely on CBDCs by eliminating the function of paper money, this will invite risks that can stop transactions when the power goes out. CBDC can be used as an option in making transactions, some are more comfortable using paper money and some are using CBDC.
Everything is going digital, so I'm pretty sure paper money will disappear sometime in the future. I know CBDCs won't replace paper money right after they're launched, especially when not everyone will want to use it for day-to-day payments (like the elderly). We already have decentralized digital currencies (Bitcoin and its variants), so why should we care about Fiat going digital anyways? Once CBDCs take over the world, you can say goodbye to privacy for good. Who knows how many years do we have left before this happens? Just my thoughts  |
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The price is one of the indicator of bitcoin's success. What you're saying is totally right, bitcoin will be continued to be used even if it was at $1, but if something goes down from $70k to $1 then it also means that somehow it has failed. There will be people who will keep using bitcoin but forget mass adoption at that point.
Then of course are also people who took the risk to buy bitcoin I can totally understand if they want to get some profit, nothing wrong with that.
That's certainly true, mate. A huge dip in Bitcoin's price would certainly give a bad impression to the public. It would mean Bitcoin has failed as a store of value (even if the blockchain would still be alive and running). I don't think prices will stay low for too long, especially when Bitcoin hasn't reached the mainstream yet. Once the whole world is using Bitcoin, you can bet market prices will go all the way to $1m. That, and also the fact that the Russia-Ukraine war and rising inflation rates need to end for BTC to go all the way to the moon. I'm pretty sure it will be all over by the next Bitcoin halving in 2024. People won't want to miss the train once BTC skyrockets like crazy. While market prices are important, they're certainly not as important as the health of the blockchain itself. With how far BTC has gone since its inception, I don't think it will die just like that. Who knows if it lives for generations? Just my opinion  |
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Please take into account that over time, new generations of ASICs are more effectively and beneficially in energy consumption and hashrate it can produce. In addition, with time, miners have gradually switched to new electricity resources and they aim at cheaper as well as more environmental friendly, renewable resources. Anyway, take this discussion to look back at what satoshi wrote 12 years ago. Right. Otherwise we couldn't have a finite limit of 21 million coins, because there would always need to be some minimum reward for generating. In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I'm sure that in 20 years there will either be very large transaction volume or no volume.
The Proof of Work algorithm and the finite total supply of Bitcoin has pros and cons. It will not have an ending in between great success and failure. Just ends in one way or another. If Bitcoin price can keep jumping into another high level after each halving, miners will keep mining because they will still have profit. That in turn will make the Bitcoin network becomes bigger and bigger as we have been witnessing last 13 years. Else, miners will abandon and Bitcoin network will become less secure and even a dead one. I know about difficulty retarget after each 2016 blocks but what satoshi wrote is true. Exactly. PoW may not be perfect, but it's the best thing around for the preservation of decentralization and censorship-resistance. Governments are still against PoW mining, not because it "harms the environment" (which is false), but mostly because they don't want to lose control. They want to prevent as much people as possible from using Bitcoin as an alternative to existing Fiat currencies. By pushing cryptocurrencies to switch to PoS, governments will be able to make them centralized. We cannot let that happen for the sake of crypto/Blockchain tech. No one knows what the future holds for Bitcoin, so we can only hope for the best. Just my thoughts |
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It's not as easy as that, crypto winter might take another year, 2023, so it's going to be very hard and cold for us. And we don't need to listen to Elon or any other so called prediction, you can just look at the 4 year cycle and knows when is the next bull run (right after the bitcoin block halving).
And now that we know that, are you still willing to wait that long, or get out right now and come back later?
For some of us, who have been hear during the last bear market and passed the test, it's better to stay and then accumulate as much bitcoin and any other crypto for that matter.
Many experts are saying there will be a severe recession by 2023, so it's very unlikely BTC's price will go to the moon by then. I'd expect further pressure into market prices, until the next halving event (which is scheduled to take place on March 2024). I'm in no hurry to see BTC reaching a new ATH soon, especially when there are other important things to focus on (inflation, geopolitical uncertainty, etc). All in all, I'd say this is the perfect opportunity to buy coins at a huge discount. If you have spare cash lying around, I'd suggest you go all into Bitcoin to obtain great results in the future. Can you imagine if BTC finally hits $100k? If you held onto your coins today, you'd cash out big time by the time it gets there. Just don't follow the "FUD" and there should be nothing stopping you from becoming filthy rich. Who knows if you become the next Bitcoin millionaire? Just my thoughts |
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It's neither, it will be a footnote in crypto history just like Mt got was. Same thing. Will some people get turned off by crypto for awhile, maybe. But eventually when people realize exchanges that aren't insured are not personal wallets like people treat them as. In the end I know a lot of people who now don't trust leaving theor coin on exchanges which is a good thing. Personal wallets where people control theor own keys is the paramount of crypto. Either way like I said I think it will be as much of a thing as my gox is/was, nothing more nothing less.
I sure hope so. But with increasing regulatory pressure from mainstream governments, anything can be expected. We can't imagine things will get better over time, especially when crypto threatens the existence of traditional Fiat currencies. Governments don't want to lose control, so they will fight against crypto/Blockchain tech until the end. I think with the collapse of two major crypto exchanges (Mt. Gox and FTX), people will finally learn how to maintain self-custody of their coins. This is good for the industry, because it will minimize the number of hacks and/or theft by a large margin (it's more difficult to get access to someone else's private key than just hacking a centralized exchange). We cannot predict what will happen in the future, especially when crypto behaves in many strange and bizarre ways. But at least, we know for sure crypto won't disappear thanks to its decentralized and censorship-resistant design. It'll be up to you to protect your coins by following the necessary security guidelines. As long as we have an alternative to existing Fiat currencies, nothing else matters. Just my opinion |
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I do not think that digital dollar would become a threat to BTC since they have different uses and purposes.
Digital dollar is the same as fiat- the only difference is the platform on where you can use it. In contrast, BTC is something that can be used as alternative payment if you want to secure your transactions in the blockchain. Again, like what I similarly comment on posts like these, both fiat/digital dollar and bitcoin can co-exist with each other. They can both be used as they can fulfill each other's roles effectively.
The Digital Dollar could become a threat to Bitcoin, if the US government forces its use. But that's very unlikely to happen, especially when the US is a democracy. What will happen is that the government will tighten regulations to keep away the "bad actors" from Bitcoin. With how far the cryptocurrency has gone since its inception, it's very unlikely it'll disappear just like that. I think both Bitcoin and the US Digital Dollar (or any other CBDC for that matter) will live alongside each other for generations. Sort of how Gold is living alongside Fiat up to this date. People will choose which kind of currency to use for day-to-day payments. Who knows if we're closer to a cashless society than we've thought? Just my thoughts |
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Even on those days people weren't exactly giving free money, because faucets were sponsored by Google Ads which was a profitable source of income for faucet owners and allowed many of them offering decent rewards to users in satoshis. Sadly, the industry was instantly destroyed once Google banned their ads from every faucets. The secondary ads companies weren't enough anymore to keep faucets profitable for owners and users at same time. Practically every faucets of those old times were shutted off, with freebitco.in exception and maybe few others, while new websites were created, but under a new concept where users have to create personal accounts on every faucets sites, with login, password and email details. And rewards aren't paid directly to micro wallets anymore, because it takes too long to earn a single satoshi now.
Faucets have become worthless. But if it wasn't for Google ban, I believe faucets would be still a possibility nowadays for micro earners and newbies, as they were an alternative back then.
Faucets were supported by ads. Back in the early days, they used to pay a decent amount of coins to claimers. But they've stopped doing so after market prices went all the way to the moon. Nowadays, faucets are virtually non-existent thanks to governments' regulatory pressure against crypto/Blockchain tech. The few remaining faucets are paying a very small amount of coins, making them a complete waste of time. You're better off seeking a job that pays in crypto or joining a high-paying bounty campaign. As I've said before, there's no such thing as "free lunch". There's always a catch. Crypto was never about making money anyways. Who knows how market prices will look like a few years from now? Just my opinion |
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Increasing the supply of bitcoins will only give bitcoins new problems and the real purpose for bitcoins to be created will also be meaningless.
Satoshi Nakamoto created bitcoin and put a strict limit on the amount of bitcoin supply of only 21 million, it is a hard cap that will not increase and is the core proportion of bitcoin's value.
Bitcoin is protected from changing or adding to its amount by its incentive system and governance model. Thanks to bitcoin's proprietary architecture, the entities that control Bitcoin's rule set have a solid incentive to reject hard cap changes, while those who wish to change them have no ability to control the network.
Although adding supplies can be done with the approval of the community, it will not be that easy to do.
It's very unlikely Bitcoin will experience a change in supply sometime in the future. Developers are better off leaving it as is for the good of the project. Besides, there are quadrillion satoshis in existence. That's more than enough for the whole world to use. Things would've been worse if Bitcoin was only divisible to two units. Being highly-divisible, is what makes Bitcoin completely unique from Fiat. The problem with mass adoption is not the supply, but rather governments becoming an obstacle against the cryptocurrency. They don't want people using it, especially when they can't control it. Decentralization is the antithesis of everything traditional Fiat currencies have stood for since their inception. I'd expect more opposition against Bitcoin because of the way it was designed. There would be no reason to worry about this, especially when the cryptocurrency lives on the Internet. People will eventually discover it, greatly contributing towards its adoption worldwide. Who knows what would be of Bitcoin 1-2 decades from now? Just my thoughts |
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The lofty heights of $64,000 & how we miss them hey. At the time I predicted we’d go much higher, I couldn’t have been more wrong though. I definitely think COVID & what happened with the world due to lockdowns stunted the price run up. I think without all that we would have gone much higher. China banning bitcoin at the same time wrecked us too.
We will get back to those prices though & go higher. It’s just going to take a few years though. We must have lots of patience but it’ll be rewarded.
It's going to be a long wait, especially when everything is going downhill in an instant. We should just focus on filling our bags with crypto before the market turns bullish again. If things work out the way we hope for, Bitcoin could easily reach $100k per coin. I'm in no hurry to see BTC reach a new ATH, as long as it works as intended. Crypto is all about utility instead of the price. With some countries gradually adopting Bitcoin as legal tender, it should only be a matter of time before the cryptocurrency rivals the existence of Fiat. Who knows how far will it go? Just my thoughts |
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If it repeats itself and the cycle comes back in 2024 after halving, then it should get bigger. But it needs a new trend for that. Not ICOs, Defi, MemeCoins, NFT or anything else that has already happened. Something new that drives people to buy bitcoin and altcoins. The market will come back bigger if people play the game. Without a trend, miners will mine less bitcoin and make less money in 2024.
Of course. Crypto would need something new and fresh to help attract the masses. It's said that bear markets often encourage developers to build on exisiting projects, so it's likely we'll see something innovative by the time the next bull market comes in. The sky is the limit to how far crypto can go. I'd suggest anyone to invest now while prices are cheap before it's too late. Who knows if you become the next crypto millionaire once the hype makes a comeback? Just my opinion |
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Republicans have stated that they will stop aid to Ukraine if they can control the House or both houses. I think those are statements intended to attract voters in their midterm elections, the possibility of them doing so is improbable. Regardless of which party is in power, the national interest must come first, or you will also be deposed if you harm the national interest. Russia is mired in war or economically lagging behind is beneficial to the US, no matter who comes to power, they will not ignore. But I still hope the Republicans come to power rather than Biden.
Republicans SHOULD support Ukraine, especially when it's in everyone's interests to help protect a country's sovereignity. If Russia wins the war, it will be a huge blow towards world democracy. I'm pretty sure the US won't let that happen anytime soon. As you've said before, Republicans stated they won't support Ukraine just to attract voters. But they will just agree with the Democrats in the end, because of the reasons mentioned earlier. I'm hoping the war ends by 2023, for things to get back to normal. With the world at peace, economic prosperity can be achieved. China, Russia and other world countries should work together for the benefit of all. Only then, inflation will be put down to rest for good. Who knows what the future holds for all of us? Just my thoughts |
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Far from now, but who knows, the market is still down and the current value is way far from that huge target. The important thing for now is the development and how the team is still working with the usages.
The more established the project, the better for the future. The actual value will be realized
once the usages are being maximized and with how the team will market the project to
the end users.
It's all about utility instead of the price. There are so many projects that are driven by hype instead of what real use cases they can provide to the world. That's why many of them fail in the long run. But I don't think the same will happen with Polygon, especially when there's a dedicated development team making sure it's a useful alternative to the existing ETH blockchain. For just a short amount of time since its inception, Polygon has managed to attract quite a respectable number of businesses, companies and investors alike. Disney, Coca Cola, and a few other companies are issuing NFTs on the Polygon blockchain. It should only be a matter of time before MATIC goes all the way to the double digits. What needs to happen is for the whole crypto market to turn bullish, and MATIC would go all the way to the moon in an instant. Who knows if someday $20 per coin becomes a reality? Just my opinion |
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Exchanges should be used to exchange, not to store your Bitcoin.
Buy bitcoin there, then send to your own wallet, that's the only way to truly known you just bought real Bitcoin, and not some fake IOU
People that keep their "bitcoin" in exchanges are always in a position in which they can lose all that money overnight.
Exactly. We should never leave all of our coins in a centralized exchange. That's because the risk of loss is too high to bear. Just deposit the amount of coins you're willing to trade, and you'll have nothing to worry about. The future for crypto lies on decentralized exchanges and atomic swaps. These alternatives solutions may be often expensive and slow at times, but they're bound to improve over time as developers introduce changes to the code. With L2 scaling techniques, DEXs could obtain the same performance of a traditional centralized exchange while minimizing costs as much as possible. We cannot let centralized exchanges continue to do more harm than good to the crypto/Blockchain industry. Satoshi invented Bitcoin to be independent from third parties for a very good reason. That was to prevent the same failures of banks. The collapse of two major crypto exchanges (Mt. Gox and FTX) should be a reason of concern for those who want crypto to exploit its full potential. While most people are still using centralized exchanges, it's possible DEXs will take over the industry within 1-2 decades from now. At least, that's what I hope for. Just my thoughts |
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I was chatting about Bitcoin's impact and effects with a few friends today. My friends discuss the impact that Bitcoin whales are having on the adoption of Bitcoin. In the coming years, according to Bitcoin experts, adoption will increase. He claimed that 3.7 million coins are lost, with the remaining coins being held on chains by early adopters.
He claimed that this specific set of people is seriously impeding the adoption of Bitcoin. As they have the ability to shock the entire system with sell/buy. Avoiding a centralized authority controlling the system is one of the issues that Bitcoin seeks to overcome. If there is a large demand and widespread adoption, a supply shock would then occur.
However, the issue is still present and may be more significant than the use of fiat money. Unless Bitcoin holding changes in any way. I believe the system should be changed such that each person is limited to holding a certain quantity of Bitcoin.
I think that this will hinder widespread adoption. What do all of you think?
Happy Christmas 🎄🎄
I don't think this will hinder mainstream adoption of Bitcoin. Whales may hold a large amount of coins, but they won't be able to hold all 21m coins that will ever be mined. Coins that are lost, essentially add towards the value of Bitcoin in the long run. Besides, there are plenty of BTC left to mine before the 21m cap is reached. I'm pretty sure there are many people holding coins on their own, especially when Bitcoin is accessible to anyone with an Internet connection. If there's ever an issue with the distribution of coins, developers could easily propose increasing the supply for the community's approval. But that would defeat Bitcoin's purpose of being a deflationary cryptocurrency. No one can predict the future, so we can only hope for the best. Just my opinion |
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Imagine the following scenario (that could possibly occur in decades):
Bitcoin becomes widely adopted, its marketcap surpass the dollar's, and it become so valuable that even a single satoshi is worth more than, for example, a couple of pens, a bottle of water, etc.
In that case, payments for small amounts wouldn't be possible even with second layer solutions such as LN, because even a single satoshi would be more valuable than the price of the product. There would be a need for Bitcoin to be more divisible, for it to be broken down into even smaller parts.
Would such need to use smaller denomination units (smaller than satoshi) require a hard fork? Can someone shed some light into it?
Bitcoin is already divisible to 8 units, and that's more than enough for the world's population. 1 satoshi would cost around $1 when BTC hits the millions, anyways. That's still cheap when you compare it to a wire transfer or even credit/debit card fees. We don't need to worry about this, especially when it's going to take decades before BTC goes well above $1m per coin. If there's ever a need to make BTC more divisible, it will come to a consensus among developers, miners, and node operators alike. A hard fork would likely happen by that time, but it won't be as controversial as the big blocks debate by Bitcoin Cash proponents. Everything will go smoothly without issues (at least that's what I hope for). Who knows what would be of Bitcoin in the future? Just my thoughts |
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So is there any Free crypto coins tokens ?
Like Youtube is full of videos but non of them brought to me Free crypto.
Can any legit old member enlight us here from where we get the Free crypto.
We have try faucets but it's waste of time.
So many newbies Also want to know how to get crypto for real ?
And we want instant payments into our wallets not like the faucets doing it we have to wait month before we can withdraw 2$ into our wallets.
So IS there any sure way to get some Free airdrops instant please dont suggest those here who might pay maybe not Im Looking for sure deals.
There's no such thing as "free lunch". Many of the coins you can claim for "free" are either scams or become "worthless junk" in the long run. Some airdrops require you to complete certain tasks before you're able to claim the reward. It's totally not worth it in my opinion. Instead of hunting for "free coins", why don't you work for them instead? There are a lot of jobs and even signature campaigns which lets you earn a decent amount of coins along the way. Free crypto is just a means to attract newbies into newly-found projects. But don't expect to get rich claiming rewards anytime soon. With more regulations coming to the crypto industry, it's possible airdrops will come to an end within the not-so-distant future. Mining/staking/working would be the only way to earn some crypto when that happens. Who said crypto was only about the money anyways? Just my opinion |
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I don't think Elon Musk will support Dogecoin forever. He wanted to have fun with Dogecoin and he did. However, I don't find it correct to explain the future failure of Dogecoin with its price. Dogecoin is a memecoin. It is the ancestor of memecoins. It has a position independent of its price... Under normal circumstances, it is absurd that we even talk about Dogecoin today. I think we cannot explain this absurd situation today, so we may relive the times in the future that we cannot explain this absurd situation... It is a memecoin. We don't need to look for logic in Dogecoin. Dogecoin doesn't need Elon Musk to survive in the long run. It has been there before the crypto hype, so I'm confident it won't go away just like that. Prices may fall, but at least the blockchain network will be active. That's thanks to the community supporting it every step of the way. I wouldn't use Dogecoin seriously anyways, especially when it's a "meme" coin. It's value is driven out of pure speculation. With a huge supply that constantly grows over time, there's no reason to believe DOGE will sustain high prices in the future. Who knows how much will the cryptocurrency be worth by then? Just my thoughts |
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Regulations for crypto were planned long before FTX collapse. Timing for it makes a lot of people blame fall of FTX for sure. But if more people would read about it, they could have prepared for it.
Prepared because there's really nothing we can do to avoid regulations. Nor that i would even want to do that. I am way more for regulations then going back to that unregulated era of scams.
We can't avoid regulations, especially when we want crypto/Blockchain tech to thrive. I know it's painful for some people who want true freedom using crypto, but it's the only way governments will approve crypto as a legal means of payment. We should expect further tightening down the road after the collapse of a major crypto exchange. I think the future is still bright for crypto/blockchain tech, since more regulations would mean more credibility among investors and traders alike. This is just the beginning, especially when there are a lot of people who aren't into crypto yet. Some countries have gone as far as adopting Bitcoin as legal tender, so it's possible more people will join the crypto train in the future. All I care about is decentralization. As long as that is preserved, we should have nothing to worry about. Just my opinion |
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This is entirely true. People should be holding bitcoin and ethereum, even though it is looking shaky right now I also believe in BNB as well and for some reason people do not because of what recently happened but I still trust it. These are all news to break Binance and we all know it, right back to back SEC started to question the money laundering stuff, and then Audit companies started to say it's not legit and all that.
These news are known to be a problem for Binance and we should not be considering it real. I think it is legit and there is nothing wrong. These three coins will always be in my portfolio and they will stay like that for many many years.
I'd limit my investment portfolio to only a few cryptocurrencies just to minimize risks of loss. I think buying and "hodling" both Bitcoin and Ethereum would be enough to grow your investment in the long term. Especially Bitcoin, which is the Father of crypto/Blockchain tech. There are many factors indicating Bitcoin's price won't stay low for long. I'm pretty certain it will reach well above $100k once the dust settles. After that, it's likely top-ranked altcoins would skyrocket like crazy. As I've said many times before, this is the perfect opportunity to accumulate as much coins as possible before it's too late. Who knows if acting quickly would lead you towards untold riches in the future? For what I know, the sky is the limit to how much you can invest on crypto. Just don't put all of your life savings into it, and you'll have nothing to worry about. Just my thoughts |
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The only reason why Defi is acceptable in the eyes of most coiners is the fact that its so easy to use to swap for wrapped tokens. That way you can keep your funds out of an exchange and be completely self reliant. No third party is involved in your trades or your wallet holdings.
The bad news is that the underlying blockchain (BEP20 or ERC20 for example) is not as trustworthy or reliable as Bitcoin blockchain. And obviously it is not one and the same thing.
Its like giving someone a piece of paper with "1 Bitcoin" written on it and the person reassures you that that paper can be traded in for 1 Bitcoin at any time, as the piece of paper itself has an underlying Bitcoin reserve value. But its still not 1 Bitcoin. Just a voucher for 1 Bitcoin.
Should the underlying DeFI's blockchain fail for some reason, your wrapped token will become worthless and nobody will trade you 1 Bitcoin for it....
So whether or not you want to trust Defi is up to you. But one thing is certain: DeFi itself is trustless and verifiable. Just not without risk, depending on which blockchain you use.
That's certainly true, mate. Most underlying blockchain networks aren't as decentralized as one thought they would be. They're extremely vulnerable to hacks and/or manipulation because of their focus on performance instead of security/reliability. There's no guarantee your balance will always be there on a "De-Fi" platform of your choosing whose underlying blockchain network is centralized. While Ethereum is the most decentralized blockchain network after Bitcoin, that doesn't mean it's perfect. You're going to have to decide whenever you'd want to put all of your money on "De-Fi" or banks. The latter is a much safer option, although rates are lower than those provided by "De-Fi" platforms. At least, we have an alternative to traditional banking. As long as we have Bitcoin, nothing else matters. Just my opinion |
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