Yes if owner of bitcoin dies without leaving any record to claim the bitcoin he/she own those bitcoin will be hang in the system and no one can have the chance to retrieve it. The bitcoin will then be considered lost coin and because there are limited number of bitcoin circulating in the market if it will happen to large owner of bitcoin it may cause bitcoin to die.
This is not exactly correct, if a person dies and no one is able to recover the coins then those coins are lost, but there is no way the rest of the community can tell those coins are lost, those coins are simply not going to move, maybe in a hundred years if those coins have not moved then we could be able to tell those coins are lost, besides address collision may allow a person to create the private key of an address with BTC on it, so even if that is unlikely there are ways to get that bitcoin back. |
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I think there is a huge difference in the way both approached the subject, the JP Morgan chief executive basically said that bitcoin was a fraud if I remember correctly, Putin is just saying that crypto by not being controlled by the state poses a risk to it and that is true, because that is the whole point of bitcoin, a currency that is not printed by a central authority, so if anything Putin is recognizing that bitcoin is a success. |
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they can only hack your computer not wallet
Not completely true, hackers have created fake sites that look exactly like the original where they put an installation file that has been modified, that way if you install that wallet the hackers have access to your coins as soon as you put any amount of money there, that is why it is important to check the site and if possible verify the download, just in case, so we can avoid having our bitcoin stolen by hackers. |
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Bitcoin's future is just way too unpredictable but I do know for sure that it will be good. If you look at it's historical price you will immediately notice something and that its pirce is always increasing. There will always be obstacles, forks, FUDs and accusations that will try to bring it down but only to no avail. With bitcoin's stand right now even without China's ICOs, future is much secured since it can strive even without the help of one of its major player.  The issue with the future of bitcoin is that there is not a middle ground, bitcoin either success or fails, for many other inventions things are not like that , they can be more or less successful but do not need that most people in the world to use it, but in the case of bitcoin adoption is key, since it is a currency and if most people do not accept it then its usefulness is going to go down and the interest on it could dwindle. |
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So, if Bitcoin really takes off, we think we have an honest, state-free money. No central bank, or anyone, can create bitcoins past the 21 million limit.
Correct? In practice, no.
What Western central banks are doing now is getting us used to the idea of multiple cryptocurrencies being viable. When they use their printed money to buy some new cryptos, their values go up.
One simple example of how they can continue to expand their money supply is to have a basket of cryptos against which they 'manage' exchange rates with dollars, euro, etc. Say, at first this basket contains 1 BTC, 10 ETH, and 100 LTC, and the Fed and US government have an official or unofficial policy of keeping this basket at the price of $100K, with a combination of keeping money printing and public debt under control, and selling the BTC/ETH/LTC in its vaults to scare savers away from moving their dollars into coins.
As time goes on, the Fed will want to create more dollars. (As it always has.) Then they will buy up lots of new cryptocurrency XYZ (cheap) with their dollars, and raise the price of XYZ. After XYZ has 'proven itself in the market with its technical superiority,' the Fed will add it to the basket, and the new basket will be priced at $120K. Since the 'base money' has expanded by 20%, the number of dollars can also be expanded by 20%.
This is only one of many variations. The Fed doesn't even have to declare a basket (as mentioned above.) Whatever it buys will rise in value, and will become part of the 'basket'. Whatever it abandons will die out. It will have all the power.
The system will be no different from the early days of gold and silver standards, but with a new twist: there are an unlimited number of new gold and silver mines, and only central banks know where they are!
So, I'm still thinking that gold and silver, whose scarcity is secured by physics, rather than computer code, are the superior forms of money for improving our freedom from governments and bankers.
What you said it is correct but we are still very far to reach that point, when the dollar falls of grace as the world reserve currency the next question is what to do then, and economist have suggested what you are saying using a basket of fiats and creating a new world currency as a result, so what you are saying makes complete sense but you are too early, I do not think that is going to happen in decades or even in 50 years. |
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If a price above of 4850 means that bitcoin is dead I do not want to imagine what it is going to happen when bitcoin comes alive, five figures? Six figures? Anyway bitcoin seems to be holding strong and I do not see any signal that people are leaving bitcoin and getting bitcoin cash, don’t get me wrong I think it is possible that BCH follow the steps of ETC and becomes a good investment, but it is not going to replace bitcoin anytime soon.
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For your $50 is a good advice if you will try to go with ICO coins. You can have some discounts and its cheaper if the project goes well and put in any exchanges that would be a profit for you. Check my suggestion coins today : ETHbooks , Stonetoken , Electroneum and others. For more Altcoins Bounty thread.
This is not a good advice. Your 50$ will earn after some 3-6 months normally if you chose to invest that little amount in ICO. That is too long a duration for you because of your small investment. For me, it is best to invest it in pump and dump coins. If you want, investment in a coin that is going to be joining a big partnership or announcing a big update is also a good move. But with 50 dollars you cannot ask for much, you can invest your money or your time, since he has almost no money then he needs to invest more of his time and if that means that he needs to hold for months to see great profits that is fine, anyone thinking they are going to convert 50 dollars in millions in a matter of weeks is just daydreaming and nothing else. |
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Of course Bitcoin successfully defeated China, it's a decentralized network of computers! Look what happened when they tried to stop torrents.
This is one of the keys of why satoshi created bitcoin as a decentralized currency, when the first centralized systems of file sharing were created the owners were prosecuted and faced a lot of legal battles, this ended with torrents, since there is no way stop that traffic and the same principle applies to bitcoin, it is impossible to stop, governments cannot just forbid it because they have no power to stop people from using it and this is why countries like China are struggling to find out what to do with bitcoin. |
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After china will other countries also take similar decisions, its temporary or permanent ban in china?
Probably not anytime soon, you must understand that the reason the US and China did that is because a lot of bitcoin owners and enthusiast come from those two countries so it is natural that their governments have taken special interest in a topic like this, but since bitcoin is still not that big in many other countries then I think it is safe to say that only a handful of countries could be interested in something like that. |
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If you have 50 ethereum in your wallet and if you bought 260 dollars each. You cant lose money why? Because the price of ethereum as of now is 300 dollars and you earn profit not lose your money. I suggest hold your ethereum because for sure it will increase again the price. Or you can join to the ICO have ethereum investment and for sure it will grow but be careful while investing in ICO.
You are missing the point ETH may be at 300 dollars, but the price in dollars is not important because it is very likely that he bought that ETH with BTC and ETH has been crashing in terms of bitcoin since bitcoin outpaced ETH growth after the hard fork so if the op converts to BTC now he will lose a lot of money in terms of BTC, he needs to hold in the hope ETH goes up once again, that may be possible but it is going to take a lot of time. +1 I think Ethereum has greater potential than Bitcoin at the moment. It is simply used by so many businesses and relied on by so many that it has to go up. I think this is why Microsoft invested in it. Think about this... back when Microsoft was first growing, they eventually gained a monopoly as everyone was dependent on them. I think ETH is the same sort of thing and it is no coincidence that Microsoft is part of it. If I had some money to spare I will invest in ETH, ETH is very far away from its all time high when you look at it in terms of bitcoin, I will not be surprised if that all time high was surpassed in the next year, which means that you could easily double your money in a very short amount of time, so the entry point is great for anyone looking for a solid coin that is relatively cheap. |
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I've been talking about Bitcoin to family, friends and random people for years and nobody seemed to mind when BTC was under $1000. But now that Bitcoin has reached $2000, people are starting to realize that owning 1 BTC is beginning to be out of reach for the average person.
I've had more people ask me about Bitcoin lately and wanted help buying Bitcoins. What about you?
TBH only one asked me in last 30 days or so. Asked everything he could, lol. I tried to answer best possible, that btc is the future and that it is worth of investing in it. Hope more people will jump in because of me or my advice as I do believe in BTC for real. Unfortunately not a single person has asked me about bitcoin yet, my friends know that I’m on bitcoin and that I earn a small amount of money and even that has not been enough to spark anyone’s interest, but at the same time I am not surprised, bitcoin is not really big in my country, there are no local exchanges and there is almost no one selling or buying bitcoin in my locality. |
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Just imagine. If ALL OF US would be rich, that means we would live our lives out from dividends, or any passive income of at least $1k a month. Then it would be jawesome, right ? Well, but then I do have a question.
WHO on this Earth would bake the bread for ALL OF US ?
Robots, you might say?
OK, nice idea.
But then, WHO on Earth would maintenance these robots ?
Another robots ?
I don't think so.
Even if so, even if there would be a Skynet of robots, who would not just bake the bread, but also harvest the grains, transport it, deliver to our doors. What then ?
We could eat for free, as much as you want?
Cool, but what about overweight then.
Doctor? But hey wait, NO ONE on this Earth work, so we have no doctors.
OK, we have Doctor Robots.
Who would teach our kids? Robots! Who would change the diapres? Robot!
Even if humans would master all this, we would need to have all the knowledge to teach our robots to work for us. To be slaves for us. (no minds, just pure robotic hands/arms and so on, Tesla's and autopilots)
But even then, there is one huge problem.
I do not want to touch any country, or race, or group of people, but imagine, if you put infinite amount of resources to any kind of animal (including humans), they would reproduce themselves to infinite. Because they simply can. Because parents do not need to parent their kids anymore, because we have robots! So we would need a limit of reproducing, no right to reproduce as much as you can handle (infinite resources), because we would simple have like 50-100billion people on this planet, and there would be no robots who could grow so much grains to bake bread. (perhaps hyper dense pills could be the away).
So, back to the original question, why do people believe, they all can be rich ?
It was, is, and will be, ALWAYS about that who is going to earn more, not enough, but more than the others.
Why?
If there is only one mansion on the Bahamas, which is large enough, sunny enough, sexy enough, there is no freaking way, ALL OF US could buy it. Just one. 1. One. And if only 10 buyers come with their million, to who would seller sell this mansion to? First ? But second also have million and ALL OF US want to be rich (own that one mansion). So second would have to offer 2 million, right?
Wrong.
No one would want to sell such mansion in the first place, as he is already rich. We all are.
There are different levels of wealth, the people that can buy mansions and sports cars and not look at the price tag are a very low percentage of the population and that is not going to change, the level of wealth that many people in the forum want is nowhere close to what you are describing, as long as I could live a normal life with bitcoin but without having to worry about where my next paycheck is going to come I will be rich enough for my goals. |
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These two will go almost certainly x10, probably even more:
Shift - building new world wide web that is decentralized, permanent and secure from censorship , market cap 13M competition to MaidSafeCoin with around 200M market cap
ZenCash - Fork of ZCash marketcap 15M, with more advanced features than ZCash with marketcap of 530M
Just because a coin has better technology or more features than another that does not necessarily mean that is going to rise above other coins, people prefer to trust in projects that have shown their seriousness for a long time, so even if a fork of a coin is better, users are not going to change immediately if ever, so your predictions about ZenCash could be completely mistaken. |
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Do we still need to pay income tax if we earn through trading/investing in Bitcoin or Altcoins??  Until bitcoin gets legalized and crypto currencies get regulated,we are free to earn from bitcoin or altcoin and it will not be taxed. But in japan,where it is legalized,i hope that it would be taxed.In australia too,it would be taxed.But to avoid double taxing in australia,when bitcoins are bought or sold in exchanges or other trading platforms,it would not be taxed. In our country india,still there is no legalization and regulation over crypto currencies,so i enjoy tax free earnings from bitcoin.But soon after four months,when bitcoin gets legalized,then things would change totally upside down. This is not correct, all your income needs to be reported and you need to pay your taxes on it, even if you won the lottery you need to declare that income, in theory even criminals must declare their earnings but since their earnings comes from illicit acts then they do not do it and that is why some of them are caught, since their lifestyle does not match their declared earnings. |
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Banning Bitcoin might elevate the price. People will continue selling it on the black market and start smuggling vouchers into the country. People will have to pay premium over the market price. Everybody will forget about China in a couple of months.
A ban on something always makes the price of a product to go up, but I do not think bitcoin is going to forget abut China, if you can sell a few hundred dollars above the market rate you can sure many people are going to want to buy bitcoin in an exchange and then try to sell them to Chinese investors and holders, it is going to be a risky endeavor and something I will never do, but if China banned bitcoin then that scenario is likely. |
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It is possible, but only if you have the necessary skills. But I don't recommend you completely abandon official work. No one knows what will happen with bitcoin in the future. You risk to remain without money and pensions. You will agree with me it is very risky.
That right , you have to think of long term goals, things that would still be certain whatever may happen to bitcoin. Insurance and other health care services is a must investment that you need to have specially when you grow old and is planning to have a family. yes, im earning enough here more than any jobs here in my country, it is good to have this one, it is quite good and impressive thats why i likely to earn this one and to have hold this as long as i have been so much money in my pocket, i will make this as m investment. If you are referring to signature campaigns as a source of income you need to be careful what are you going to do the day the forum owner says that the signature campaigns are no longer going to be allowed in this forum or in the new forum software than you are going to be left with no source of income and that is always a difficult situation to be in, so jet a job and look at signature campaigns as a nice bonus. |
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Due to the forbidden of bitcoin transactions in China, what do you think about the future of bitcoin? Will it be banned?
If China wants to get out of this revolution instead of being the leader as it currently is then they can do it, bitcoin does not force anyone to use it, but if they do that, they are going to lose the opportunity they have been waiting of debunking the US dollar from being the top currency of the world, it seems the Chinese government has decided to keep their power on their country over having a larger base of power on the whole world. The future will be much brighter than this as long as China, Japan or USA don't ban bitcoin permanently. The community keeps growing and this is amazing to see the progress of bitcoin eventually. But I'm pretty sure that China will change it's mind and give itself again to bitcoin community. Like Russia before that they didn't believe that there's a future in bitcoin and later on it surprise the world and started to build their own mining company. But if China won't turn back again then it's fine. Slowly we crawl to the top again without these Chinese manipulator. The problem is that things change very rapid in the world of crypto, Japan, Russia and even North Korea are developing their own mining equipment, very soon the dominion they have over bitcoin is going to get a lot smaller, they take decisions as if their power over bitcoin is going to be there forever and that is simply not true, if they keep doing things like these the only ones that are going to lose are themselves. |
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I think DASH is an incredibly risky investment. For the most part it looks like a pyramid scheme. I have no doubt it will be regulated into oblivion one day. Imagine paying taxes on a masternode, paying dividend taxes on you PoS, making a ledger of all your trades or purchases. It's going to be a nightmare of bureaucracy. Until then its probably one of the best pyramid schemes in the world.
All crypto is a little bit risky. But DASH is for sure the most riskiest coin right now. Disagree, DASH is a solid project, you may agree with it or not but to say it is the riskiest crypto is a complete mistake, most of the time icos are going to be a lot more risky, especially if we take into account that many of those icos have no merits at all and are nothing but scams or copies from other projects, at least DASH has something going on and I have no doubt that the price is going to keep increasing as our need for privacy increases. |
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I just joined an ICO, is there any possibilities that I will be scammed. They have just collected $5-10 million.
Maybe yes maybe not since you do not give the name of the ico you invested we can only guess, if we knew in what ico you invested we could dig deeper, however one thing you need to understand that even if there are a lot of scams round the forum, sometimes a coin can fail for things other than a scam, in that case you were not scammed simply your investment did not gave to you the earnings you were looking for. |
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can they hack into our wallet. There are many professional hackers out there. What are the chances? Also what is the safest way to safeguard ourself?
They cannot hack your wallet if your private key is secured. Dont give it to others that you dont know, because there are possibility that they will hack you if they need money. People see hackers mostly as nerd guys that know a lot about computers and while this is true you need to understand that the most powerful and successful of hacking methods is social engineering, basically talk to people and manipulate them to do their bidding, most of the time those are the successful hacks you will see, a person gives up his private key to the hackers by their own volition and then the hackers steal everything that is in there. |
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