Sweden, Norway and Denmark. All fascist countries. All rich countries. You go to Oslo's airport one Friday afternoon, and it's crowded with people going on week-ends to Southern Europe, but they will all be back by Monday morning, because the people there are unable to live without the safety net from their government (medical insurance and all that), nor the gigantic organization which rules everything in their lives.
If you can avoid to ever travel there, I advise you do. Without or without cryptocurrencies, these countries will ban cash. Cards are already everywhere. If you want to pay cash in Norway, the people look at you like you're some kind of an alien.
Do you think the people in scandinavia love it when they pay between 50 and 60% of their income in taxes so they can have this safety net? I doubt it. Oh yes, they love it. They think it's necessary. I don't know much Sweden actually, but in Norway and Denmark, the feeling of individuality is much less than in America or the rest of Europe. People think they belong to society. I agree. All the happiness surveys indicate that people in Scandinavian countries are amongst the happiest in the world. Factors like high GDP/capita, social support, life expectancy and freedom to make choices contribute to this. Apparently, the big bite that the tax man makes doesn't make them feel sad.  |
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Most top bankers would have checked out Bitcoin. It pays to know the advantages (and disadvantages) that your competition has to offer. And if bankers have to fear anything, it is Bitcoin. |
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I am curious of your opinion about if you have to start a bitcoin business from scratch today. What is the type of business will your start, even if any of this type of business don't exists at the moment? I know the typical business type on the market are : - Exchange
- Blog
- Lending
- Trading
- Selling stuff in bitcoin
- Freelance job in bitcoin
Payment processors are a good bet. I would work to educate people about bitcoin, while helping them convert bitcoin into fiat. As merchants become familiar with Bitcoin, they would start accepting and using bitcoins. |
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Would that be the proof that the price isn't global and that there is micro-economies over the world ?
The price difference is due to capital controls put in place by governments. Traders are therefore not able to arbitrage this difference efficiently. If exporters of goods/services can take bitcoins instead of foreign exchange, this price difference would disappear. |
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I was expecting a such move from Dubai , cause at the end UAE is still a middle east country where governments are always cautious
my cousin is living in Abu Dhabi , and he told me that porn websites and big gambling sites are blocked by the government
so do you think that a country that bans porn will allow people to use bitcoin without any troubles !!
It is not just porn and gambling, even online calling (like skype) is regulated in UAE. So it would be natural that the government would look to regulate Bitcoin. Governments hate anything that they can't control. By the way, banning porn should not be considered a benchmark. Lots of countries have taken a moral stand and banned porn... |
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The religious institutions are the equivalent of hodlers in Bitcoin. The donation boxes are infrequently opened and contain lots of bills. At least in Bitcoin, if a payment processor is used, the bitcoins get back in circulation. And there is no problem of small bills / large bills. |
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The employees of the Company were acquired/hired by airBNB.
I guess ChangeTip's business model didn't make sense, post that.
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The current bank is something greater than the bitcoin, and the bank has been recognized worldwide, even everyone knows about the bank. however, not everyone knows what it is bitcoin, and not everyone can use bitcoin for now, because there are many people who are blind to the technology. Well, if bitcoin really growing, it may only be a rival bank
That's the situation right now but we're approaching a digital world. The kids are starting to be so computer literate nowadays that they starting to overcome the computer skills of other adults. And when it comes to the popularity of bitcoins, it's only a matter of time when it becomes popular. Since people are all looking in their phone screens all day, they will eventually search for ways to earn money online and bitcoin would be one of the most popular search results. Earning money is not the make-all and end-all of this world. There are people in this world, who are not interested in the satoshis offered online. So thinking that this would be the reason for Bitcoin's success and the failure of banks is fool hardy. |
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It's possible.
But it wouldn't be because the tx fee rises to say .001/transaction.(could also be possible coz of the miners,although unlikely)
It would rise as Bitcoin value in USD rises.
Like this:
if 1 BTC = $740 then .0002 tx = $0.15 then if
1 BTC = $7,400 then .0002 tx = $1.5 so if
1 BTC = $74,000 then .0002 tx = $15 .
But that is only if the tx fee stays on that rate despite the dollar equivalent($74,000)
Although, who's to say how fiat value would be by then.
(Now: $10 = buy 3 bread Future: $10 = buy 1 bread)
If Bitcoin reaches $74,000 would it then be possible to send a small amount with a .000002 transaction fee? It should because why send $100 in Bitcoins with a $15 fee across the network. That would be stupid and "anti Bitcoin". That is correct. The minimum transaction fee has fallen over the years in BTC terms. What we are seeing now is a temporary blip, where the fees have increased due to limitations on block size. |
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the crisis is gonna get solved. in the meantime they're paying a huge premium for something that no one else will buy at that price and no normal indian will accept. i hope they enjoy their pump. they're setting their money on fire.
It usually takes time for the dust to settle. Some wise guys might have found a way to arbitrage the difference. If you have enough money, you can travel outside India to buy bitcoins. It still might be profitable. |
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I dont agree with several measures the government does take and make, soo going against bitcoin is something i wont agree, and i will still use, since im not doing nothing to damage the current fiat system.
That argument won't wash in court. People may disagree with paying taxes, but they pay taxes all the same. This is to avoid getting punished for breaking the law. The same logic holds good if Bitcoin is made illegal too. |
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I assume that there are gradually more and more people learning about bitcoin and trying it out. I think there will be a growing acceptance but it will take time.
There is a gradual trickle of people learning about Bitcoin. Every now and then, when you have events like the Cyprus crisis or Indian Govt's demonetization drive, there is a spike in interest and more people enter Bitcoin. |
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It won't be initiated by the House of Saud, that is for sure. If the monopoly has to be broken, the first steps will happen from countries who have a natural distrust of the US, countries like Russia and Iran. |
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Gambing and Bitcoins are a natural fit. Plus you have the concept of being provably fair, which is a huge improvement over offline casinos.
It will take time, but eventually most of the gambling will be done in the online world.
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Let's hope that he doesn´t cut the cord for innovation on the blockchain sector. But since he is an investor and a finacial guru I think that he is perfectly aware of bitcoin's nature and might be able try and use it on his own favor
You may call him a racist and a bigot, but nobody is calling Donald Trump dumb. I don't see him implementing anti-innovation measures, least of all on the blockchain sector. |
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If the regulation had turned out well, NY authorities would have been called pioneers in crypto currency regulation and praised as visionaries. Now that it has turned bad, they are being accused of using New Yorkers as guinea pigs. That is life. |
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