That's very true! Bitcoin can be easily adopted by the islamic countries. Bitcoin doesn't provide interest on bitcoin, it appreciates in value! Which means, new bitcoin doesn't get added to your holding as interest payment every quarter. So it's not haram in any way!

Also the anger of Islamic world against the western countries is justified. So if they become more interested in adopting bitcoin and any other alternative currency system, that will not be a surprise!

Lagarde had used "privacy" as a double-meaning word. Digital money will give privacy from other users. This essentially means, the person you are transacting with, will not be able to view your balance or your transaction history.

But the government will have full access to your transaction history. So there will be no anonymity. That's the main reason digital money is being introduced. Governments will now start looking into your finances and your spending. There's no surprise, to be honest! Whatever little privacy was offered by cash, will be gone with the introduction of digital money. The majority of governments are now trying to introduce the same due to this benefit because now it will be easier to catch a tax thief.

Very difficult to enforce! EU legislation can only target EU companies and EU residents. But they can't enforce their decisions and make companies operating outside the EU to follow their law. This kind of legal provision works in good faith. If a company wants, they can willingly do so, but it's their call whether to do it or not! EU has no power to force a company to follow it if they don't have a physical footprint in EU.

Also, it's a proposal and not a law yet. I don't see much impact even if it is signed as a law in EU. It seems ECB and EU parliament is doing everything they can do to bring down the importance and circulation of cryptos in EU.

23ll it's all fine! It's not just crypto companies firing people. The mainstream companies are firing more people. It is happening because the forecast for businesses are becoming realistic because of inflation and reduced purchasing power of the customers. So it's at per the mainstream market. There's nothing drastically different happening in crypto market.

Crypto is a volatile asset unlike any other assets in the market. Every single person and businesses involved in this market, knows this for a fact. So no surprises there as well. People who understands the market, are buying heavily at this price point.

There's no guarantee that everyone's dream will be fulfilled. Every innovation has to go through the test of time and bitcoin is no exception here. Currently bitcoin has reached to such a level where only a handful of innovation can reach. Isn't that enough?

There was a coin which aimed to fulfil the vision of Satoshi, but failed miserably! It's good to stay within the limit of law. Revolutionary idea is great but it may not yield great results if you try to execute.

It's hilarious! It reminds me of India's demonetization drive back in 2016. A central bank can take such drastic measures to control multiple things including inflation. It can be a very effective tool against inflation which will control the spending habits of their citizens by not allowing extra funds in their hands. But if it's solely done for promoting CBDC, then it's a hilarious act and probably short-sighted.

The use of CBDC will require some form of internet connectivity and a smartphone I believe. For a country like Nigeria, I don't think it's a super regular tool for all segments of its population. The government should have taken steps to improve the livelihood of their citizens first, rather than chasing the west to compete with their innovations.

Unless and until you are playing with a huge (really huge) amount of money, no crypto casino should ask for such proof of income. If some casinos do it, let us know the name so that we can avoid it for good. This is not really a good practice for the crypto casinos and may indicate a potential exit scam.

Alternatively, if you are providing the income proof which justifies your bankroll, you should not face any issue. But earning and gambling with the same amount, may trigger some more question at their end. But at the end of the day, a casino must not hold your winning just because of this reason. If they do, they are scam casino and must be avoided.

Tell us something we don't know!

It's an well established truth that banks don't like bitcoin or any other cryptocurrencies. Because cryptocurrency system has the power to directly challenge bank's dominance. So it's no wonder that banks do not like it in any shape or form.

Warren Buffet, Jemie Dimon and many other central banks have always raised their voice against cryptocurrency and it will continue to happen! We just need to ignore such things!

ECB has some vested interest in bringing down bitcoin or POW mining to be precise. They have already created a certain proposals for the EU countries which are still being debated but the motto of the proposal is to ban any type of POW cryptocurrency from the soil of EU. So it's no wonder that ECB is making statements essentially demeaning bitcoin and cryptocurrency in general.

However, these are speculations! It will definitely be tough if the ban proposal is passed in EU parliament. But even then, that will be temporary. As EU miners will shut down, the difficulty will reduce. So a lot of old miners from different parts of the world may come back into action to fill in the blank. So I personally don't see a reason to belive in ECB and its statements.

Utter nonsense! Who will account for the millions of deaths that will happen if ww3 starts? Is it a fair price to pay just reset the economy?

There are several hundred measures available to tackle inflation or hyper inflation. World renowned economists are available to assess the situation and act accordingly. War is not a solution. Don't sound like an American, please!

I truly belive in this! But bitcoin doesn't have to destroy anything to be honest! It's just about time, the shitcoins are usually rejected by the market and no one really cares about it! That's the usual dynamics of the market. Bitcoin doesn't have to do anything here!

The entire crypto market is at a very nescent stage where we are acquiring new users every single hour. Not all of them are educated about cryptos. As the time goes, as they gather more experiences, they start to understand which is what! That's when they choose their investments wisely. It's normal rules of the market which will happen with time.

Probably yes, probably not! The world equation is changing drastically along with the economic scenario and also with the cold powerplay between US and China. Apple has already moved out of China and started building their production hub in India as a JV with TATA group. Canon has closed down their factories in China and moved out their production to elsewhere.

I think it's a cumulative effect that China is facing. Also I think it's great for the world economy because China is the biggest threat to world peace after US. While US attacks the oil rich countries, China attacks their neighbours. If global institutions are moving out of China and their exports are declining, that might balance couple of things for the rest of us.

Governments will never issue stablecoins on a mainstream blockchain like ETH. I will draw example from my own country which has recently introduced digital cash on a blockchain. This is a private blockchain our central bank has used. So even if the digital currency is using a blockchain, it's centralized to the core!

Also this digital currency is created outside of banking network. Which means, you have a separate wallet where you need to buy digital currency using fiat at 1:1 ratio. Then use that wallet to do the transactions which is happening outside of bank accounts. I honestly don't see any government using mainstream crypto blockchain to introduce their own stablecoins ever!

I see some members are again resorting to an old argument of one bitcoin is equal to one bitcoin. This is nonsense and not practical at all! Bitcoin can't replace the world order of fiat economy. Bitcoin can become a parallel currency system alongside the fiat economy and that's what is happening slowly.

Bitcoin is a super volatile asset and unless its price is fixed, there's no way people in reality will practice one bitcoin is equal to one bitcoin.

 

Market cap is a flawed parameter to measure a coin's performance! Let's assume you create a coin with 1 billion supply and you have sold one coin for $100. Then your market cap will become 100 billion US dollar. Regardless of the fact that you have only sold one coin.

So never judge a coin based on its market cap. Rather look for the daily transaction volume and the the volume traded in exchanges. That will give you a better understanding of a coin's performance.

My thinking is exactly opposite! A small business must not accept cryptocurrency as payment. Usually a small business rolls over the money. They always need working capital to sustain and that working capital has to be in fiat unless and until their wholeseller accepts crypto. Also the price volatility can easily eat up their profit within a very short period of time.

So my personal recommendation is not to use crypto for a small business. They can have a service where a thind party converts the crypto immediately based on the current market rate, that's when it makes sense for the small businesses to accept cryptocurrency.

May or May not be! This is a data gathering phase. Nigerian government wants to understand how many people uses cryptocurrency or what is the volume. Based on this data, they will forecast potential tax collection. If that amount excites the government, they will probably legally adopt it.


In my country, it is scaring off people due to 30% direct taxation rate without any opportunity for writing off the losses.


Depends on multiple factors! If the tax rate is low and there is a legal framework available, then it will help in adoption. Otherwise it will just scare people out of the market.

I don't know what others think, but I feel that cryptocurrency is not an asset for long-term investment due to its extreme volatility. Even if we need to use it for the long term, use a very small portion of it. Cryptocurrency is mainly an asset where your position needs to be validated constantly. Get in at the right time, get out at the right time, and re-enter at the right time again. That's what should be the ideal workflow of crypto investment unless and until you have cryptos hoarded since 2009.

I always try to re-position myself in the crypto market rather than keeping my coins idle. I sell when the market is hot and high, I re-enter when it's cold. I make profit along the way!

There are multiple reasons why many people including crypto veterans don't use hardware wallet,

1. It's not completely decentralised
2. Hardware wallets are costly
3. People can use good antivirus and anti-spyware for their PC

I am personally attached with bitcoin since 2016, but I have never used a hardware wallet because I never felt like using one. Electrum is good enough for me!

I love this statement! This is super true! Freedom should not come with terms and conditions or anything attached to it! So if a bitcoin owner wants to do kyc and wants to pay taxes on the transactions and profit - that's freedom!

Shying away from taxes and regulations will only make our life worse because the entire system is centralized and connected. Bitcoin 9r cryptocurrency market is not matured to such a level where you can just live off it. If you want to fully realise the potential of the bitcoin you are holding, at some point of time you will have to integrate with the real economy!