Banks can not afford increasing expenditure of the old technology anymore they will have to adapt to the change.Talking about technology and banking, Blockchain, will disrupt the financial domain with certainty. Much has been discussed, debated and discussed about this distributed ledger, both online and offline. So this innovative technology does not require a special introduction at this time. Calling it 'annoying' is a disparaging statement. To understand what a blockchain is, look at bitcoin or cryptocurrency. It has achieved many 'never heard' scenarios in the financial domain. Since technology has been introduced in the banking world, experts are always struggling to create safe and secure means of transactions. A person must go through a third party application or an intermediary or regulatory body to transfer money. But here is the digital currency - completely unfocused - and has broken all conventional banking laws. Today, a person can send money to anyone in the world immediately without having to go through the hassle of what I experienced. It has happened in many parts of the world. You can transfer money via WeChat, Whatsapp, and even Facebook Messenger right now. Believe it or not, blockchain is a breakthrough technology that can be applied to your domain-name. From agriculture, aviation to supply chains, finance, and the food industry, blockchains are everywhere. A lot of organizations around the world are already experimenting with this technology. Major financial organizations such as the SBI Holdings, Goldman Sachs and Citi group have already invested in blockchain. Back home, the State Bank of India (SBI) has grand plans in place to use blockchain for a number of processes, including the KYC system. South Indian Bank seamlessly carried out an international transaction using this technology. ICICI, YES Bank, Bank of Baroda, Axis Bank and Kotak Mahindra are some of the few banks that have hopped on to the blockchain bandwagon. While some banks are experimenting with this digital ledger and achieving impressive results, some financial institutions are gearing up to reform and redefine huge chunks of their banking processes.  Good for them and their customers! As far as my bank is concerned, I recall reading this article which showed that out of Fortune500 in last 50 years, 84% of them are dead today. In the next 10 years, I am happy to predict just a few banks will remain in Fortune 500. Most financial institutions will have either absorbed blockchain tightly OR they will be gone. If you think blockchain would end banking then its purely an overstretched assumption. Blockchain is a technology just like people have said every businesses at one point or the other have to key into the technology. Several years ago, there was no Automated Teller Machine, there was no Visa or MasterCard neither was there mobile app or POS machine and the height of it was the deployment of USSD for banking transactions and finally scan to pay direct just by scanning a bar code but along the line every businesses had to fall in line or they fade away. This businesses have deployed to their operation that today, I can remember the last time I entered a banking hall. I see the same thing happen for blockchain. Banks are multi nationals with huge amount to money to hire any developer to work for them and if that won't happen, they would buy an existing blockchain payment system, then integrate it to make their operations more efficient. |
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Where do you start when looking build a team for a real project?
When you looking for a team, you need to be specific about it whether you want to hire or you want equity participants. If its to hire then you need to have enough funds and finding a team in that case is the easiest thing to do as you can get them on various freelancing sites with inbuilt escrow and also on the forum as well without too much stress. The other difficult part is having little or no resources and wanting to form a team, here you would practically to everything on your own and it could be frustrating when those who joined are only there for immediate income and never believed in the dream. In that case, you need to have people around you who you know and can convince to believe in you to handle key parts of the project while other areas like publicity, design, public relations can be handled from the pool of externals. Its not always easy. |
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I think I will share in your position as well because I can't believe a journalist who called himself a professional could write an article with so much sentiments, the editor and the entire team of a reputable platform could just go ahead and publish such ridiculous claim and the beginning of the article made it obvious the type message they are trying to pass across. This is an outright shitty journalism that is away from being open minded. I think the attack has now moved to come from the angle of "researches" because for the couple of weeks now, I have read several researches by different groups of people publishing theirs and you begin to wonder whether they have no areas of research to investigate again than focusing on the negative side of the blockchain backed by ridiculous claim. |
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My attention is drawn to this move by the authorities in India and I can't help wondering, why such desperation to ban something that's being celebrated by its citizens and even authorities in other climes? Is this not a clear manifestation of governments caring less about what the people truly want?I was looking at cryptocurrency as a leveler for the developing countries, but it's disappointing most of them can't even see beyond their nose and instead are busy trying to reinvent the wheels. https://www.ccn.com/indias-central-bank-banned-cryptocurrency-with-zero-research-or-consultation/The only reason why government will do things for its citizen is when both what the government and the citizens want aligns. If there is a conflict, government interest will surely supersede and that is exactly what is going on there. But from the way I see it, its more of a rash decision than a rational one and also exhibit the laziness on the part of government as that is the reason why they choose the easy way out rather than having to engage in discussions, dialogue, deployment of infrastructures and also the massive education of the citizens. But its a shortsightedness though because the benefit would eventually outweigh the cost in the long run. |
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Tax law is dependent on your country and locality. Recently in the United States, the IRS has declared that Bitcoin is to be treated as property, not currency, for tax purposes. All income in the US is taxed, regardless of what form it takes. If you’re paid in bitcoins, you’re supposed to pay taxes on your earnings at the BTC/USD exchange rate when you receive payment.
Is it a good decision or bad?
You are actually conflicting the two types of tax here. One is income tax and the other is capital gains tax. If the US is treating bitcoin as property as you have claimed, then the issue of being paid in bitcoin does not arise. You can only be paid in bitcoin and taxed if bitcoin is subjected to income tax but in the case of property, it is when you sell your bitcoin for dollars that you will pay capital gains tax just like when you sell a building. In addition to that, you are then allowed to deduct the cost of buying the coin and other incidental cost incurred that can be proven to be essential to carry out the trade before the balance 'Capital Gain' is then taxed depending the on the CGT rate in the country or if a specific law is made to cover crypto currency. |
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Millennial Living in 2018: Insights for the UK ‘Build-to-Rent’ Sector, a study in conjunction with FTI Consulting, commemorates real estate group Get Living’s 5th anniversary. Focusing on millennials, it found significant portions turning away from traditional stores of value, such as property and home ownership, in favor of crypto assets.
Millennials Turning from Traditional Investments and Toward Crypto
“For Millennials the soaring performance of Bitcoin – followed by an almost equally profound correction – holds more intrigue than the prospect of steady growth in house prices,” Get Living concludes. “This translated to 27% of male Millennials polled believing Bitcoin represents a better investment than property.”
Is this age group “in the vanguard of the new Sharing Society, where people are less interested in following in the footsteps of their home-owning parents and would rather make a fortune from Bitcoin?” asked build-to-rent advocates Get Living. The group “sought to answer these questions and a host of others about Millennials’ lifestyles in ground-breaking research carried out in cities across the UK in March and April 2018.”
England’s Male Millennials Turning To Crypto, According to Study
That over a quarter of UK males polled, in the 3,065 universe of 21 to 35-year-olds, see crypto as favorable comports nicely with previous studies. In late March of this year, for example, “The Student Loan Report teamed with Pollfish to survey 1,000 current university students with related loan debt, asking one question: Have you ever used student loan money to invest in cryptocurrencies like Bitcoin?” these pages explained. The survey “found that 21.2 percent of current college students with student loan debt have used financial aid money to fund a cryptocurrency investment.” That study itself confirmed a late 2017 Harris Poll, finding that 27% of all millennials preferred bitcoin core (BTC) to traditional stock and bonds.
“The rollercoaster ride in value for Bitcoin has excited many Millennials, with one in five seeing it as an appealing investment proposition compared with relatively slow-moving property values,” Get Living noted. And whatever the actual macroeconomic truth of the matter, a bare majority still hold to legacy investments such as real estate. As to whether still more males, and of course their female counterparts, will continue to move into crypto (and whether this will be for the long term) is anyone’s guess and well beyond the present study’s scope.
I wouldn't expect anything lesser than what is being reported here and its not only in UK, all over the world. Aside from the people in that age bracket who are limited by virtue of their believes or education, almost everyone would have heard about bitcoin and if not invested in it at one point, they would love to invest eventually when they have the means to do it. Youth generally in this generation are wired to challenge the status quo, they tend to go against established rules established and that is why despite the down turn that is being witnessed, they still believe in bitcoin. However, there are two concerns from my own point of view which are investing for the wrong reasons which I fear might not turn out right. For someone who invested financial aids towards his education because of greed or turning out excessive returns tends to face pressure during the time of low price and there are no sources of getting the fund from else where. Another concern is the people in charge of policies, these are the people who are mostly above the youthful bracket and until youths take charge by occupying majority in the in policy making, the environment will still be hostile. |
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You can still get back your coins if you have the private key and import it into a new wallet or had backed up your wallet before the password was created and import the back up file into a new wallet.However, If you don't have either of them, i am afraid that your coins will be locked forever.  Another way around this is if he has the recovery password though because I remember there was a time I needed to install Electrum during the creation of account section, the question was asked if I have a seed and I had to which brought out the wallet then one can continue from there. But what I am not sure is if the password was still required after I entered the seed I have. The point is, one just need to be very careful and do the necessary backups in addition to having a unique password that can easily be remembered no matter the situation because you never can tell when your memory would fail you that you have to fall back to default mode which at that point would be a life saver. |
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Reading this thread a question comes up to my mind. If in the future, you can pay with bitcoin almost everywhere, how are you going to pay? The safest way to store your coins is to use a hardware or paper wallet (properly created). But in order to pay for a coffee at the coffee shop you can’t use it, unless you carry your laptop or tablet everywhere. Using your mobile isn’t safe. At least as safe as using hardware or paper wallets. So, how do you think it will be done? Transferring just small amounts to your mobile? Maybe hardware wallets will have a mobile version? Eventually, if bitcoin is going to get massive adoption, we have to use our mobile to transact because you don't expect people to have to go every where with their computer or with their hardware wallets just because they want to pay for burger or coffee. Yes the phones are not secure but in the spirit of that, a lot of us still have our mobile wallets on our phones even bank apps are all on our phones to make transaction faster. The security concern for me would be in two folds 1. The software vulnerability which the mobile software developers are trying to curb with trust worthy developers, Google overseeing, regular anti-virus updates etc, I think that area would be covered to a large extent. 2. The other security is the physical one where in the case of burglary, armed robbery and being forced to transfer from mobile wallets at gun point or in the face of aggravated assault. This is a great concern that might inhibit that but with adequate security with government living up to its responsibility and personal security consciousness, I think that area is also pretty covered. |
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Some say some forces are working to lower prices
So that some whales can enter the market at excellent prices
Do you agree with that?
Anybody is free to say what he/she feels its the right explanation. It would also be surprising to see that the same whales that is being blamed for the downward trend in price would also be blamed when the price is taking a positive vibe as "they are pumping the price and you need to be careful". What really matter is what do you believe to be true because whatever happens some people will lose while others will gain eventually. You are then left to determine which part of the lot do you want to belong to at the time when the dust settles which would happen. |
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Microsoft VP will become CEO of Github. Is this a attack against open source or Microsoft embracing it and wanting to bring it into the mainstream? Personally I think microsoft coders use it so much, like constantly, and Bill Gates doesn't want to feel like he is playing second fiddle. Also they want Github to be able to be used for non open source projects in addition to open source projects, and they don't want another entity controlling their secret data. So they decide to buy it so they will control the data. https://www.cnbc.com/2018/06/04/microsoft-buys-github.htmlThis is really a game changer and there is no need to speculate whether the deal will go through or not, it surely a done deal because before they would jointly address a press conference and talk about how their goals, objective and dreams "aligned", it would have gotten to a point of no return which is what we are facing and a confirmation that everyone has a price no matter how ideal or great your philosophy about life is and further solidify why its just the best for Satoshi to have stay out of sight for this invention we are all enjoying. $7.5 billion is a whole lot of money that could turn an entire generation around. Its effect in crypto would surely be massive as I see the acquisition of various platforms that aid crypto currency as a tactical attack to take away to platform then leave it hanging which would then die naturally. Hopefully, this won't work. |
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Hello everyone, I just registered but of course I am a long-time cryptocurrency watcher. What I do not understand is why most people are so pessimistic and talk about "these hard times for *coin". If you look at the growth chart from the beginning of cryptocurrency, you will realize that even now, the Bitcoin is a bit over-valued. It is not "in the red" by any stretch. What was in the last few months was a bubble, an anomaly which may have been exploited only by the very few, just like in the real currency or valuable asset world. You want a cryptocurrency to be stable, just like the real currencies. Only then will it be trusted and invested in by the big players. Any asset in which you make money like winning the lottery every day is bound to crash. In my opinion the Bitcoin is just now approaching a "healthy" status. Making money from Bitcoin will be just as hard as making money from real currency trading. For more money, just you just have to work...  My 2 satoshis... I'm every market, people will panic, others will be pessimistic, some others again will be optimistic its part of the dynamics of the market. For the fact that to you bitcoin price is still green, does not mean it has to be for others. Just like the forum here, when some other people are just waking up to their activities, some are about to go to bed while others are in their mid-day. For those who bought from the beginning of last year till say middle of the year, there is no reason to panic they are just being greedy for excessive profit and carried away with how the balance in dollars was soaring high by the day. But the same cannot be said of those who bought from December down to last month compared to what price is trading at now. Its surely a trying time. |
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The blockchain ledger is an incorruptible system within which any information that is entered into it can not be altered or better still deleted. Would it not be advisable that governments and banks inculcate the Blockchain technology into their financial transaction so that there can be transparency and orderly arrangement of transactions.
I believe the blockchain can go a long way in eradicating corruption in the economy on a high level. Today is some countries in the 21st century you see a public servant leaving above his/her means and still flaunt it to anybody who cares and nothing can be done to either call him to order or stop it because no one knows how much he is earning and how exactly he spending it as well. There is also the issue of budget padding in some countries where the amount approved by the legislature is different from the one signed by the head of the executive and nothing can be done. Another is the issue of election where all over the world, there is no fool proof electoral system. With the blockchain, all of these human error or human connivance can be eradicated and everyone would be able to see what was approved, what was disbursed and what was spent. Be able to compare the budgeted with the actual. When this is solved, whole lot of issues have been solved and that is where the blockchain is going to solve corruption cases. |
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There has been an uproar and confusion in the crypto industry in Israel, as Israel’s parliament- the Knesset- decided to postpone the law regulating cryptocurrency exchanges by four months on May 31. https://bit.ly/2KCz6h5I was surprised that reading the article is a waste of time nothing was talked about the content of what the regulation is all about neither was anything said about the direction its going to follow. The only thing there is what we already know about crypto currency, the ICO market, the exchange sites, the application of blockchain and the importance of regulation other than that, its just a waste of space. Everyone know regulations would come one way or the other and postponing it for 4 months is just shifting the "evil" days forward which would eventually happen. |
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The positive news is that India may not be shutting down the currencies. All India Mobile And Internet Association has already filed a petition against the Reserve Bank of India and thats why Supreme Court has filed a case and for which the results would be declared on July 2nd. Most of the people think that there will be amendment in the use of crypto currency rather than banning it completely and thus it has already become good news for the India market. Get ready for the boom that will be coming from this country. I guess thats the closet reason in the current situation for the current pump.
Anyone has insights about this?
There is no assurance that this positive news will happen. What I know is that July 2nd is tomorrow and the Supreme Court will make a pronouncement based on what we have read all through since the beginning of this banning episode. It just better to wait for such pronouncement and not keep hopes high unnecessarily. I also know that government will surely get a win in the pronouncement of tomorrow and crypto might not get any win rather some will be taken away and we will have to grapple with anything that comes then interpret that as a win. A judge would not declare the India authority should not perform its duty of "protecting" its citizen that would amount to anarchy also might not declare some people should be subjected to some frustrating environment because of what they believe as freedom is guaranteed by the constitution. Put all this together, I see a compromise at the end where the authority would be allowed to perform is function and crypto enthusiasts allowed to function as well but in a regulated environment. |
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This reminds me of something I can't stand, which is the dreaded AA/BB/CC rhyme scheme. I've been working in a drug rehab for the past six years, and our patients have pretty much nothing but time on their hands. Sometimes they ask me to read this great poetry they've written, and everything I've read thus far has this same awful pattern that reeks of prison rhyming.
I give OP props for doing something humorous, but ugh. Can't you do something like "Shitposting whine/merit is whoo-hoo/I can't speak English/so give me 2!" or something that doesn't sound like you wrote it in grade school?
Reading your post has even made its own rhyme in a smooth manner... |
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Reading the article, they are both right and I see some level of selfishness in both parties trying to justify their respective actions. Crypto should be open source as patenting it means centralising it to one person as the inventor. He has the right as no further development can be done on the project without his express approval doing that would amount to amount to something related to plagiarism in academics. When this happen, it then defeats the essence of decentralization that holds the fabric of crypto together. Now they are going to court to address their issue the same system they don't trust to offer justice that gave birth to decentralization in the first place. |
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The price of Bitcoin has dropped recently, and this is coupled with a reduction in transaction volumes. It has reached the point where a few miners have turned off their rigs as mining is no longer profitable for them, or switched them to other coins. This leads us to the second discussion topic.
If the price continues to drop, what effect will that have on Bitcoin mining and transactions?
Please note - this is not a discussion on the probability or otherwise of a change in the price of Bitcoin. As always - initial posts by newbies and juniors.
What would happen would be going back to the basics. Before bitcoin reached $5000, miners still work and transactions still gets confirmed so also when it was touching $1000 and the problem of covering cost is for those who bought equipment when the price was high. Currently, I don't expect equipment sold for say $2000 when price was $15000 to still be sold at the same time when it has crashed to what it is now. What I see here is that a whole lot of importance have been attached to the price of bitcoin that we everything that have relationship with crypto just increased alongside. Now that there is a challenging time, there is struggle on how to cope. Just like before the breakout of internet, people have been leading their lives normally and if its taken away, we will improvise. |
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Do you have what it takes to develops and individual off the streets into the next age of crypto currency? I’m willing to learn and study religiously the ins and outs of crypto currency and apply my ideas to this community to have an impact on all of us and keep this currency going into the next age. Please feel free to message me back, understand I am starting new with all this but with some reading I’m getting the idea what this currency is and what I can do with it. I need all the help and would like to become a physical resume for that one out there who wants to build a reputation for training and developing individuals into this currency process.
If you can back your conviction based on what I have read here with action, then I am 90% sure that you won't have problem in getting your feet in the crypto world entirely. For you to find your way to the forum, compose good message you have there, then you probably have more that you have led yourself to believe about you. You are more than someone off the street as you have exhibited above average. The hunger is what separates those who go far and those who move. My advice, don't expect anyone to coach you or spoon feed you because its not going to happen and anyone who wants to do that, be sure there is a motive either to get paid or to scam you. There are series of knowledge materials on the internet where you can tap from and also the forum where several threads have been created and comments made. What you need to do is to read aggressively thereafter follow an individual you believes contribute content and within a short while, you can stand on your feet. |
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What do you think why Viber, WhatsApp, skype, WeChat, Snapchat, IMO, Line have not yet launched their crypto platform?
But Kik and Telegram did it.
After all, companies can get 2 huge pluses:
1) to collect a large amount of money for ICO
2) add hype to marketing and popularity among users.
share your opinion
The question you need to ask is why do business do either ICO, IPO, Right Issue or any form of fund raising? Because it seems you think its just to raise money but behind that, there is also other reason which is the main thing, the idea or the project. Its just the crypto market that promised freedom and less paper works that a lot of people have abused and have seen as the easiest way to make money. In the capital market, before a company will come to raise money, a lot of paper works and analysis would have been done and more to be complied with even after raising such fund and must be used for the purpose why it is raised in the first place. All those big companies, have the money they need to expand and even some of them have enough money that would be enough for them for the next 10 years and with their popularity increasing by the day, their share price increase then investors won't be hard to come by. In the near future, they might deploy the use of blockchain in their activities, but I don't see them coming to the market to raise funds for their expansion. |
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For example:
1) Metaverse ETP vs ICON/Tron/Cardano. Recently no one had a main network, but capitalization differed significantly.
2) Verge vs Zen/Zclassic
3) Iota vs Byteball
4) Factom vs Tierion
5) Sia vs Storj
6) Waves/Stratis vs ICON/Tron/Cardano.
And many others...
Why do you think that the competitive market doesn't equalize the prices of the same projects. In the real world, I will not find anywhere that Audi A6 and BMW 5 differ in price by 5 times.
You see the reason why the price of Audi A6 and BMW 5 won't differ that much is because they are in the same category, servicing the same income level of customers, operate in the same market and most importantly wanting to steal the customers from each other because they are competitors. In elementary economics, some goods are complimentary, while others are competitive. You don't compare those vehicles to a Buggatti, Rolls Royce or Porsche. In the case of those coins you listed there, even though they might be operating in the same market, they don't have the same market share, they did not start the same time, they did not go with the same approach and they don't have the same level of acceptance. Its just like group of people establishing a bank today and wanting to start comparing their results with the likes of Bank of America, Barclays, or Goldman Sachs etc even though they both operate in the same banking industry. It just does not work that way. The best is for everyone to patiently and willingly run its own race without putting each other under unnecessary pressure. |
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