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1  Economy / Economics / Re: Time for investment on: October 04, 2019, 08:50:32 AM
Any suggestion for things that we could invest and make money at the same time
Really comes down to how much you have to invest and the risk you are willing to take. If you are investing into cryptocurrency, there will always be some level of risk involved as the level of volatility is extremely high. For this reason, cryptocurrency investments may reap huge rewards but may also plummet and cause major losses. Other options include investing in precious materials such as gold and silver to hold for a long time, due to their finite supply, which will eventually cause their price to increase. Alternatively, stocks and ETFs are a good method to earn a small amount of money when investing into stable options, however, stocks may be a little risky if you do not perform the appropriate research and for this reason many people choose to invest in ETFs where their funds are diversified and there is a lower risk of losing money.
2  Bitcoin / Bitcoin Discussion / Re: What is the benefit of being Satoshi Nakamoto? on: October 04, 2019, 08:23:28 AM
Till now, I have read many news from different people claiming they are Satoshi Nakamato.
We all know all of them are lying. But, What is the benefit of being Satoshi Nakamato? If there was any benefit the real Satoshi Nakamato would have appeared by now.
I think even if Satoshi Nakamoto is found, he/she will have trouble with governments and there will be no benefit.
The main benefit would be the pride and fame that goes along with creating a currency that one day may revolutionize the the way transactions are made across the globe. Even now he/she would be viewed upon as one of the greatest minds in history and go down in the history books with the greats such as Einstein, for creating a currency that is valued so highly in today's society. However, obviously with this benefit, there are many disadvantages, with the main one being the safety of the individual/group due to the fact that they are known to be holding a huge amount of bitcoin, as well as facing persecution from governments around the world who dislike this type of digital currency.
3  Economy / Economics / Re: K-POP Company owners are joining the train hype of Cryptocurrency on: October 03, 2019, 02:49:13 PM
SM Entertainment, one of the top entertainment company in Sout Korea is planning on making its own blockchain network.

Due to the shareholder revolt and a falling stock price of the company they wanted to create this, in order for the Artists and the company itself be able to directly interact with the fans and be more engaged in the entertainment ecosystem.

What are your thoughts? Do you think this will have a "major" impact?

For more info, refer to these articles: Koreas Biggest Entertainment Company to Launch Its Own Cryptocurrency and K-Pop Music Giant SM Entertainment Is Planning Its Own Cryptocurrency
I think that it will have a minor impact on cryptocurrency as a whole mainly due to the fact that it will only apply to the entertainers and their fans, although, with the large viewerbase that K-POP does have it may very well prove me wrong and absolutely take off. Additionally, most of the people who enjoy K-POP are from the younger generation and therefore are more digitally savvy, meaning that this cryptocurrency does have the ability to take off within that K-POP ecosystem, especially due to the fact that these fans are absolutely die-hard for their idols.

I'm not sure how much impact it will have, as crypto is already hugely popular in South Korea.

I remember this stat that over 7% of South Koreans (of those surveyed) own some crypto: https://cointelegraph.com/news/south-koreans-invest-an-average-6-000-in-cryptocurrency-says-new-survey

But even if it doesn't have much effect, whatever effect it does have will surely be positive and is another welcome step on the long and bumpy road towards the integration of crypto into mainstream society.
That may be true, however, this is most likely older men and women who are investing their income. I highly doubt that those from the younger generation have much care for their future and therefore most likely haven't invested into cryptocurrency. This could be a turning point for that, especially in South Korea.
4  Bitcoin / Bitcoin Discussion / Re: If they can print unlimited fiat, can they just not buy up all the bitcoin? on: October 03, 2019, 02:17:35 PM
Simply printing money may seem like the solution to most economic problems to those who do not understand how a country's economy actually works. Obviously a country's central bank has the ability to print money but it this form of quantitative easing has huge impacts on the economy, devaluing the currency and increasing inflation due to the increased supply of notes. If a country did decide on printing money it would most likely only occur when they are trying to reach their inflation targets.

In OP's given scenario, after printing the amount of money required to purchase all of the bitcoin in supply, inflation within the given country would be so high their currency would be worth nothing and the economy would be fully crippled, meaning that there would be no chance for them to buy their desired amount of bitcoin.
5  Bitcoin / Bitcoin Discussion / Re: In 2013, the average US income was 286 BTC on: October 03, 2019, 02:01:27 PM
In 2018, the average US income was only 8.4 BTC...

Anyone got predictions for 2023?

https://www.instagram.com/p/B3I_ihlJmMj/
I believe that Bitcoin still has a very long way to go. Back when the price of Bitcoin was 20k, the average US income would have been just about 2 and a half bitcoin, an absolute insane feat for bitcoin to have achieved but was only short lived. However, it is possible that we will one day see that price once again and my prediction is that by 2023 we will have past that price and bitcoin will be headed for the moon.

Most likely, the number of bitcoins will decrease, as the price will increase many times
Definitely have to agree with you here, with the upcoming halvings, the amount of bitcoin entering circulation will continue to decrease and therefore the price will continue increasing due to the simultaneous increase in demand which will occur due to more people being educated about bitcoin.

In 1st quarter of 2013, the price of bitcoin was $135 so if it was over 286BTC, the calculation would be 286BTC * $135 = $38,610 approx. But the ending price for that year increased to $700.

While for 2018, the bottom was $3,300 and the calculation is 8.4BTC * $3,300 = $27,720 approx. I don't understand the metrics and price range that the chart took if there's a specific price that he has used as basis. And as for 2023 predictions, due to that chart the price of bitcoin obviously increased so what if around 2-4BTC?
Why would they use the minimum price of bitcoin during that year? Surely they would have used the average price.
6  Bitcoin / Bitcoin Discussion / Re: Bitcoin Will Replace Gold! Here's Why... on: October 03, 2019, 01:24:26 PM
Bitcoin will never replace gold for the pure fact that gold is physical and will always have demand because it is a precious material that people desire, either to wear or as a method to maintain their wealth. Bitcoin has nowhere near the demand of gold in this day and age, with most people still scared to even invest into the technology. I think that gold will forever be a store of wealth an a great stable investment, bitcoin on the other hand still has a long way to go before it is even mainstream, which would the first step to becoming a stable investment. Until and unless it becomes mainstream and governments around the world accept it, it will never even have the chance of replacing gold. I truly do hope that one day it will replace gold, with the way technology is progressing at the current time, but I wouldn't be surprised if another cryptocurrency did it instead.
7  Economy / Speculation / Re: What Developments Can Put Bitcoin Upwards Again? on: October 03, 2019, 12:09:56 PM


While people are still speculating as to the many factors that might have contributed to the continuing slide of the Bitcoin price in the marketplace, let's also focus on what are possible developments that can push Bitcoin upwards again. With the seemingly large void of good news, the market can be looking for anything that can be catalyst for the reversal of this ongoing downhill trend. And how can we inspire people to buy more Bitcoin to increase the demand for the coin?


Currently, mainstream media views bitcoin as dangerous and only displays its negative effects. This leads to most people around the world being influenced and incorrectly educated about bitcoin as a whole and therefore results in a decreased demand for crypto in general. Additionally, governments dislike bitcoin and regulate it to the ground, adding to its negative view by society. I believe that if we begin to see more positive news articles about bitcoin as well as the upcoming halving, there should be an increase in demand for bitcoin, especially with the current price sitting around $8200, which would then lead to an increase in value of Bitcoin as the supply decreases and demand increases.
8  Economy / Economics / Re: Big Bankers Say Cryptocurrencies Do Not Threat The Global Financial Stability on: October 03, 2019, 11:54:04 AM
The less people believe that cryptocurrency is a threat the better for all of us. This causes a reduction in regulations surrounding its use and therefore allows greater freedom for anyone that holds crypto and makes the process of investing much easier for potential users.

Their statements are true for present time, Bitcoin really has not had any effect on the economy and makes up only a microscopic amount of the total transactions which occur. However, in the future it could pose a huge threat to regulated society, placing strain on banks and we will just have to wait and see how these bankers' views of bitcoin change when the realize its ability.
9  Bitcoin / Bitcoin Discussion / Re: Is it safe to buy using Bitcoin on: October 03, 2019, 11:24:41 AM
Hello:
I am new to cryptos and I must say that my first experience has been a bad one, I recently visited antminerusa.com and purchased some hardware, that was about 10 days ago, I paid using BTC, now the site is no longer available, its been down for 3 days maybe a bit more, this lead me to think this website is a scam.  Now what should I do to recover my BTC, if the purchase where made using a credit card, I would report it to my bank and they could void or cancel payment, but with BTC what should I do?, if there is nothing that I can do, then it is obvious that using cryptos is a scammers paradise because there is no protection to buyer (that I know), unless there is a way to introduce the complain in the chain in order to reverse payment.
This is the transaction id 30dc4f431ac3db1949b330ab8cd31d1bb019d4831e24cd7cd7f4215fca73073b if anyone could share some light I would appreciete it.
This is unfortunately a sad reality when using bitcoin. If you do not carry out the appropriate research you will always get bitten in the backside, not only for bitcoin but all forms of payment. However, it is most dangerous when using bitcoin as it is completely irreversible. Some banks may be able to offer a refund if you paid using credit card or even better, payment processors such as paypal would definitely help you get your money back.

The safest thing to do is research the websites and merchants you are purchasing from to ensure that they are reputable before sending any bitcoin. In fact, holding bitcoin is probably the best thing to do instead of spending it.
10  Alternate cryptocurrencies / Altcoin Discussion / Re: Will Altcoins ever come back again on: October 03, 2019, 10:59:56 AM
Looking at the market dominance, bitcoin covers almost 70.5% of the market trade as of time of writing. there is the need for altcoin recovery or it might spell doom for investors. i.e, people invest today on a new project and sell off tomorrow.
According to a wall street executive, Max keiser, he strongly believed that altcoins has reached there dead end and advised that everyone should focus on bitcoin. considering the fact that bitcoin is limited. there is the need for altcoins as the name implies, Alternative coins.

What is your say on this.
I think that the best analogy to describe altcoins is that bitcoin is a super highway and altcoins are the taxis and buses that are required to move funds around.

This is clearly shown through the fact that tether, in combination with other altcoins, has a greater trade volume than bitcoin itself. For this reason, I believe that altcoins will stay around for a very long time and will increase in value along with bitcoin. However, more education is required for altcoins before they are able to achieve a high value, mainly due to the fact that most people only know about bitcoin and are weary of other cryptocurrencies.

Bitcoin does have its flaws and these can be fixed with altcoins, that's why they will always exist and continue to increase in value.
11  Bitcoin / Legal / Re: Money laundering via BTC on: October 02, 2019, 01:42:43 PM
Money laundering can definitely be carried out through bitcoin, however, there are better cryptocurrencies out there that are designed for maximized anonymity. With bitcoin, everyone is able to see transactions that occur on the network and can monitor the flow of funds. However, the person behind the bitcoin address remains anonymous until they want to cash out their bitcoin which will then cause them to be easily identified especially through the use of services such as local bitcoins. In fact, mixer services such as chipmixer may get subpoenaed by law enforcement services which would result in the identification of fund locations. This is why bitcoin is one of the less popular cryptocurrencies used in laundering money.
12  Bitcoin / Bitcoin Discussion / Re: How 18-year old boy became Millionare from Bitcoin on: October 02, 2019, 01:37:41 PM
As much as it is great to hear such a young person becoming a millionaire from cryptocurrency, it is clear that he didn't truly believe in or understand the technology. OP states that he decided to compete with his brother with the money he received from his grandmother, depicting a sense of pure luck in this scenario.

Quote from: Eric Finman
"I say if you do not become a millionaire in the next 10 years, then its your own fault."
Seems like a bit of a stupid quote coming from someone who off a stroke of pure luck became a millionaire. He really did no work and in fact, if his brother didn't introduce him into bitcoin he would be like the rest of the nobodies in the world. It is completely different in the real world, people work their asses off and can still barely makes ends meat.
13  Economy / Speculation / Re: Down below $9k! Buy the dip now? on: October 02, 2019, 01:25:56 PM
Do you think it's the right time to buy now? Or should we wait for BTC to dip even further?

I think it's time right now to accumulate more satoshis in my arsenal, as the bloodbath sale begins!!!!
I would have to agree with you. I think that this is one of the best times to purchase bitcoin. The 30th of September would have been a better day to purchase, when the price dropped to around $7800, but even at the current price of $8200, it is still a worthwhile purchase.

I would not buy this dip honestly you should have been buying in the 3-4k range
now we are in uneasy territory and you are just taking a risk buying bitcoin right now
Would have to disagree with you. Bitcoin is slowly gaining traction currently and will continue to do so. With this additional demand will come an increase in price and will benefit all of those who hold bitcoin. As much as it would be great to have purchased at 3-4k, it is still definitely viable to buy and hold at the current price range.
14  Economy / Economics / Re: Is bitcoin volatility here to stay? on: October 02, 2019, 12:46:26 PM
I am a strong believer in HODL. I expected bitcoin volatility decreases as time goes by, I totally didn't expect such big price change in the past several days.

Is bitcoin volatility here to stay and not decrease?
Bitcoin volatility is definitely here to stay for a long time to come. It is obviously impossible to perfectly predict when this volatility will end but it will most likely reduce once mass adoption occurs.
This volatility exists because people are still unsure about bitcoin and will not end until everyone is educated about blockchain technology. Currently the user base is also relatively low, meaning that a little amount of people hold all its supply and therefore leads to easier market manipulation. As more and more people purchase bitcoin, its distribution becomes more diverse and less price manipulation can occur.
15  Economy / Services / Re: Help me sell my Clash of Clans account | Earn 10% of Sale on: October 02, 2019, 12:25:41 PM
Still need some help!
Doubt you will sell the account at this price. I think that your best option would to be continue grinding the game and make your base a max town hall 9.
From a buyers perspective, it seems that you are a rushed town hall 9 with your low level walls, traps and defenses including your wizard towers and air defenses.

Another issue is the state of the game and its community. Clash of clans players are a dying breed and those who still enjoy the game have their personal accounts at a much higher level than yours.

My advice to you would be lower your price and try get rid of it as soon as possible, as its value will continue to decrease as time goes on.
16  Economy / Speculation / Re: HODL'ers lose. That is no surprise on: October 02, 2019, 11:30:30 AM
Maybe you're right maybe you're wrong, we will never know the answer until bitcoin is in the ground and dead forever.

Those who strongly believe in Bitcoin will continue to hold for as long as possible, those with a weak stomach will instantly sell out of fear as soon as they see the price declining, it's just how the world works.

Bitcoin has experienced huge price corrections and will continue to do so. The most basic economic principle of buying low and selling high applies majorly in the case of Bitcoin, those who understand this will profit majorly and those who don't will be left out. 
17  Economy / Speculation / Re: is the market building up towards another bog FOMO? on: October 02, 2019, 07:45:46 AM
i am always fascinated by the FOMOs that keep happening in bitcoin market. earlier this year i created two topics on two different occasions about it the small inital FOMO in first stage and another FOMO with a bigger leg up.

with the current situation where price has come down below the $10k support line and the fact that a lot of weak hands were flushed out, i am guessing pretty soon after the drama ended we are going to see another FOMO market shape up bringing in a lot of money like a tsunami. this time if the momentum could build up we could see $20k before the end of the year.

what do you think about the size of the upcoming FOMO? can we see a bubble in short term this time or will it be like last time (small just to kick start the rise)?
I do not believe that we are headed for another FOMO event.

This is mainly because for this to occur, the price would have to gradually start increasing and then start climbing quickly, as this is when people would be genuinely afraid of missing out.
At present time, people are scared to invest due to the high volatility and huge decrease in value that we just witnessed. If people start pumping Bitcoin, which may occur due to its low price currently, then I do see the possibility of FOMO occurring and leading to a skyrocketing Bitcoin price.
When this will occur is another question however, and I think we are looking at around a few months. (Hopefully)
18  Economy / Economics / Re: Average savings across the globe on: October 02, 2019, 07:39:22 AM
The average personal amount of savings are between $ 2,900 for the USA and 5,806,554 for Japan. The USA comes last in our ranking, but their neighbor Canada is one of the richest countries regarding personal savings.




https://www.expertmarket.com/focus/research/countries-that-save-the-most-money
This serves to show the culture surrounding money and saving within different countries. In this day and age, globalization and social media has overtaken the world and materialism manifests in every society. From this information we can gather that the American people clearly live in the moment, however, with such a low average savings, it is blatantly obvious that they do not understand how to plan for emergencies and the curve balls that life will undoubtedly throw at you. Additionally, European countries can be seen doing extremely well in these rankings as their culture is based around providing a good life for their offspring and ensuring their happiness in retirement. The idea of debt in many countries is looked down upon, but this is clearly not the case in the US where the amount of debt is so high that it is a normal thing.
19  Economy / Digital goods / Re: Chegg Study Membership Access 29-30 days Premium (Your own - Not shared) on: October 02, 2019, 07:03:48 AM
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Would you be willing to offer out vouch copies? I doubt many people would purchase from you without first knowing if the accounts work, due to your low ranking and lack of time on this forum.

I would be happy to take a vouch copy and leave a review here detailing whether it does or doesn't work.
20  Economy / Speculation / Re: Bitcoin Hold on: October 02, 2019, 07:00:42 AM
Hello, Im 13 and Im very interested in Bitcoin, because of this I buy BTC. Actually, I've been studying BTC for over a year to invest. Back to the subject, I buy BTC for 9.200 dollars, and I would like to know if you think its a good ideia hold btc until it reaches 20.000. Anyway, for now im going to wait btc until it reaches in 20.000 for me to sell. What do you think about my opinion? Wink
First of all it's great to see such a young person investing into bitcoin and taking the time to research and understand the technology.

My advice to you would be hold onto any Bitcoin that you can get your hands on. At this point in time, bitcoin is still experiencing a huge amount of price corrections and will continue to do so until mass adoption occurs, which is still a very long time away. Due to this, the price will continue to increase as demand increases day by day with more and more people being educated about cryptocurrencies around the globe.

The most important thing I can tell you to do is stay strong during periods of dropping value, something I learnt to do the hard way.
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