Its unfortunate that a lot of people didn't bother to read the article before commenting on how they think blockchain will solve the problem of identity. The article is well articulated taking a look at all the basic data that we so much cherish about ourselves and how cheap these data are on the dark web where its being traded. The article also didn't say for certainty how the blockchain could solve this problem but highlighted the areas where it could prove useful if harnessed to the fullest focusing on the decentralization power embedded in it that makes it difficult for an individual to control how data is being utilised. While the blockchain comes with so much hope to the end of data abuses that we have at the moment, it also fail to look at the advantages of data centralization in the hands of those who are to keep the citizens safe. All over the world, only the rich have the resources to pay for his own protection while the masses are left in the hands of government to be protected which makes it necessary for them to have the data in other to prevent all of the attacks before it happens. In conclusion, I think the best is for the two to function in other for everyone to have a safe environment. |
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Its sheer disregard for human dignity for forcing someone to relinquish their rights in other to have access to their own hard earned money which was kept with them as a custodian. I even think its against human dignity to be subjected to that amount of ridiculous conditions. Poloniex is actually going beyond its reach and its doing it because they don't answer to anybody or regulatory agency that is why they can just wake up and think of a new way to subject their customers to another form of modern day slavery.
Banks today, are not as worse today. If I want to close an account, all I will be asked is to write a letter so also if I want to withdraw, I am not mandated to comply with any rules that does not comes from the Central Bank, if I am not comfortable with their services, I move on to another bank without any issue. Suing them to court is really good because they need to be held responsible for their action which can be likened to extortion and forceful denial of rightful resources and that should not be allowed to go away in a sane society. They further confirmed the argument of why there is need for regulatory intervention in this industry.
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The earlier we start moving away from giving credence and popularity to people by virtue of the position they occupied in the crypto world, the better for everyone. This people will continue to say things the way the deem it fit because that is what makes them continue to be relevant and keep more money in their own pocket. I would appreciate if his comments are backed by fact by stating how and why bitcoin price will increase rather than just predictions. He should come up with facts, the increasing popularity, one major conglomerate is adopting, government somewhere is making things up, a particular largesse is about to be paid, one major university is launching its school of blockchain and series of other examples he can rely upon. When his predictions come true, I will give him the credit but not this.
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Just like the above member has rightly posted, gone are the days when news from China whether true or rumour will influence the market in a major way as gradually, the influence they have on the crypto market has been eroded in a systematically order that it does not even make any difference. The only card left to play from that part of world from the way I see it is if they decide that they want to ban everything that relates to mining and give them lets say one week to close shop. With that, I see something happening but only if its true because it would be verified and the moment its being circulated to be false, the market will pick up before the end of that same week.
Its a fact that rumours have a way of impacting the price of bitcoin and the effect is always because price rises without having any serious base for that but in the current market position, I don't see any rumour having any huge impact on price rather, it would coincide with the normal volatility that happens in the market.
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Hi, we are currently finishing development of #MetaGate: multicurrency Wallet + dAppStore. I wanted to ask you if you have some features you need in a Wallet, but they are not currently present or wrongly executed to add this features to our Wallet? Launching 1st version of our Wallet this Month for Win/Mac/Unix, that will support Bitcoin, Ethereum, MetaHash at start. Android/iOs and other platforms later on. We have added some new features like: - adress books - currency price chart - automatical Token addition - multi-wallet support for each currency #MetaGate will be a part of http://metahash.org project One unique thing I want to see implemented in the crypto wallet, is the ability to call back a transaction within certain hours. One reason why scam is rampant in crypto is because the moment you send, you are not getting or it back and this have made people to start looking for solution outside the system by bringing in human capital to act as escrow. If this is inbuilt, the cost of hiring an escrow and the risk associated with it would be avoided. Another is an embedded crypto exchange site with decent fees will go a long way of reducing the cost of moving coins everywhere. I have to pay transaction fee to send my coins to an exchange sites then pay another fee when I want to withdraw which can be avoided if my app can serve as a wallet in my hands and the same time a market too. If this is not too much, I think its going to be a great idea to have these features |
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Ok... so as it turns out... the culprit was actually "Electrum Pro"  Unfortunately, the OP had received some bad advice from a third party and had been using "Electrum Pro" to pay the Bitpay.com invoices received when funding their Bitpay card. On further investigation, there had already been a few other instances of funds being stolen... but for much smaller amounts that the OP had not noticed. There was a pattern where OP would transfer to Electrum Pro, Pay bitpay.com invoice and then any leftover funds would be transferred out at a later time. Unfortunately, this time, the scammers saw the deposit and transferred it out before he sent to Bitpay. OP is now using bitpaydecoder.org to decode bitpay.com invoices to a BTC address+Amount so they can simply pay directly from their original wallet without needing to use an intermediary wallet like Electrum. TLDR; - OP got scammed by "Electrum Pro" - Bitpay not at fault Thank you for the update to because I was actually waiting to know where it would end on whether its Electrum that is vulnerable or something else was responsible for the issue at hand but your uppdate has surely given everybody a closure (for those that have suggested one solution to the other and those that would be reading later) that the real Electrum has not fail yet. I think there is need for massive exposure for people to know the right Electrum to download and the fact that you send and was received does not make the app the right one which is what happen to Op, if the 'Electrum Pro' had not gotten greedy, they would have been removing his fund and he won't know about it. In addition, I think the web needs to be safer anybody should be allowed to pick names similar to what has already been in existence. |
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We all know that the development of a certain country comes from the taxes of its citizens, and we all know people who engage bitcoin don't pay taxes to the government, what will happen to a country where 80% of its citizens engage in cryptocurrency?
There is a big possibility that this things might happen In the future because bitcoin is growing faster and very known today.
If what you propose becomes possible, two things will happen; 1. The government of that country would by all means find a way for the citizens to pay their taxes even if it gets to the point of transferring money from a bank account to another bank account so far its not gift and its not between people who are related. This is going to be made possible with a high level KYCs where an entering of your name would bring out everybody related to you in any part of the country. An if its buying abroad, this won't be possible without the input of the banks which makes it more easy for government to get its own share. 2. The other option is to ban bitcoin altogether before it reaches the 80% of its population and the country knows they don't have the technological ability to stop it. The moment the penetration is able to touch 7%, its beginning to generate concerns which banning and enforcement of that would be the best option. It won't stop it though but it would reduce the spread to a large extent. |
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South Africa has joined a growing list of countries that expect citizens to pay income tax on their cryptocurrency earnings. The South African Revenue Service (SARS) released a statement today, April 6, 2018, making it clear that, even though the country does not consider cryptocurrencies legal tender, you still have to pay taxes on the gains. That means that anyone who is paid for goods or services in bitcoin must declare that just as they would ordinary income. Also, traders who make money buying cryptocurrencies at a low and selling at a high will have to pay capital gains on any profits. Further, anyone who mines cryptocurrencies will have to pay taxes on the money they make as well. More here, https://bitcoinmagazine.com/articles/south-africans-instructed-pay-tax-bitcoin-and-cryptocurrency-earnings/This a good one coming from that part of the world and I like their strategy which is 'they don't want to lose on both sides at the moment' so they try to make more money by pushing the responsibility to the tax payer to ensure he files his returns or face the penalty for not doing so even though they know that there is no way they can prove that without spending more money than what they intend to generate from such exercise. What I see here is a temporary policy as they are putting this in place until they are able to figure out what they would do and the Capital Gains tax part is the most encouraging one while they put the VAT portion on hold. Countries like this should be encouraged because they are open minded and want to see how they would benefit from this rather than going the way of those that just wake up one day and the only solution they can think of is imposing ban on the use of crypto currency. |
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This is a huge one and I am glad he put some disclaimer to it. Bitcoin becoming a global currency might be difficult but not impossible and factors that militate it goes beyond the political differences and leadership differences that is obvious to everybody at this time. For me, I feel even if all world leaders decides that they want to bury their differences (impossible) and work towards achieving this objective, it also does not give a free pass to bitcoin because of religious connotations.
Currently, there is an argument concerning whether bitcoin is Islamic compliant, while some have held that its allowed, some are still saying its unislamic while the Christians have not started discussing but the moment its going up to become global currency, then they will wake and argue that this is the work of the Anti-Christ which they would resist and because the leaders are elected, they would be forced to back track it or they lose their seat in the next election and the cycle goes round and round.
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I wanted to say that I have stopped sharing my crypto interest with close mates of mine.
Because they will became greedy and jealous for that money they could have too.
But the problem is that they are seeing a results of hard intense and long work! My tokens sometimes costed me like 3 months of work, (not the hardest, but anyway).
And the are saying then - teach me how to do that! Teach my now in half hour! So I would have my $1000 tomorrow!
And then they are trying to do something here for 5 days, nothing comes so fast and they give up,
also the relations are harmed...
Thanks for your attention folks! Nice days!
I was in discussing something related to this with someone some days back. He decided to put it on his WhatsApp status about wanting to influence people to make money via crypto currency, freelancing, drop shipping and a whole lot of other means. I then made him know that its going to be a waste of time simply because lots of people will be asking him for tutoring but they won't follow up just because in their mind, 'this is an opportunity to be rich' they didn't seek for the knowledge rather it came to them and when things like that happen, its just the spur of the moment that is raging in them. Only those who are 'hungry' can survive the rigor of this crypto-space because its the hunger in them that would make them to keep pushing even in the face of certainty. What I do in my own case on other not to waste both of our precious time, I identify someone who is ready to break barriers, resilient and ready to go extra mile to achieve his objectives. Anybody with those characteristics even with zero knowledge of crypto can survive. |
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It all happen as a result of the serious decline in value of Bitcoin since in most cases Bitcoin is the major determinant of crypto currency market.
This is exactly the point despite the various onslaught against bitcoin especially from within the crypto space, the performance of all coins is dependent on its price at the moment. In the future this might change, but its not happening now. I have even come to realize that anytime the price of bitcoin should drop, the market is dropping so also when the price rises. The perfect reason for this, I don't know but I think the best thing is for everyone to stand together not bickering about which one is the best, which one is the real bitcoin, or which one is exactly Satoshi's vision, when this is done, efforts can then be aggregated to face the external force which has been raging its war and its expected to get more intense in the coming days. |
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When people hold this kind of view or make comments towards the type of direction, the only question I ask is that, of all the pyramid scheme that have happened before, which one have specifically cover the whole world at the same time and lasted this number of years that bitcoin has been in existence. I stand to be corrected, but I have not seen any, neither have I read about any the worst that would happen is the scam to cover a particular country at a time or a region and have never survived this long.
Another question to settle the whole matter is to shift the discussion away from bitcoin to the blockchain and then come back to point to the fact that it would be sheer hypocrisy to commend and be wowed with what blockchain can do, to disregard bitcoin as a pyramid scheme. It is therefore safe to conclude that view that bitcoin is a pyramid scheme is nothing but a myth.
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This could serve as one example of why a cashless society may not be the best option to pursue. Paper money never "crashes" or suffers "hardware failure". The reliability, greater efficiency and lower barrier to entry, in terms of merchant gateways not being necessary to conduct regular business can all be advantages which are difficult to discount that are intrinsic to paper money.
It could also illustrate one area where bitcoin and crypto currencies have a distinct advantage versus other electronic forms of payment such as credit cards, which is to say: greater reliability and decreased downtime.
Consumers may not be able to purchase a cup of coffee with bitcoin but at least they can rest assured their payment network won't crash or be at great risk for credit card numbers being "hacked" in the way other payment networks are on a daily basis.
This is one time I would have read about this and I dont think its enough to conclude that the cashless society is bad all together and we should go back to the era of carrying paper money all over the place. Today, I made a transaction to pay for an international application fee and i could do that with my card at sitting by my computer. I wonder what would have happen if I have to go to the bank, then queue and after that fill series of form with answering of questions that have been answered already. The amount of human time needed to do that can be channeled into something more productive. No system is perfect but cashless is way more better and not that paper economy is being eradicated but discouraged to a large extent and be available for out of the blue situations like this. Moreso, I think its outright not spreading your risk for someone to have two cards and they are both for the same issuer which is what happen to one of the complainants in the article. Visa might be down, but MasterCard is working which means the cashless policy has not failed totally. |
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There is, and has been, a misconception about the economics of free things for a long while now, this movement or ideology started from the premise of government hand-outs to the least economically developed citizens. When we do talk about the economics of free things(which is rarely) we usually associate it with the idea that it involves a regulatory central agency distributing the wealth amongst its people. However when it come to the free market this type of leniency is not available at all. Day to day people don't have access to stocks or derivative markets for example, and that helps to increase the gap between the rich and the poor(which in turn requires the intervention of the aforementioned central authority). New technologies however provide an opportunity for this gap to be closed. When a technology is in its infancy the interest for its development and widespread adoption from the creators is big enough to try and exchange portions of the value of their product for market depth. Put in other words and in regards to token economics, ICO's are so desperate for the widespread use and adoption of their product that they will literally give away portions of the participation of their product, in the form of tokens, in exchange for network effects and market depth. We now have an interesting concept formed from this: airdrops and the difficulty that this companies are going to have to achieve their desired market depth. The question then is:
How could some profit from the economy of free things, and what would the reaction to this opportunity, by the general public, be? What you have painted is a situation of an ideal economy where people are expected to do things for the benefit of the society in other to bridge the gap between the rich and the poor based on how they deem it fit but one the issue of airdrop most times it does not work that as selfish people have infested that area of development in this economy where someone who does not have any plan whatsoever to develop and make the token worthwhile just seat behind the computer, create something then push it out to the populace. What happens next is for it to be pushed so that it can be listed after wish the developer cash out at the expense of other people. Again, the reason why I won't subscribe to airdrops as solution to this is because the percentage of the amount intended to be distributed is just a fraction of the total amount which does not solve the problem the ideal situation sets to achieve but also to still make the rich richer and the poor, maybe a drop that does not change their situation one bit. |
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The Japanese sometimes sell BTC Mondays causing 300 USD Bitcoin price drops!
Buying in now is a gamble!
I don't understand, when the price was going down, it was "the market might not recover" now that the price is improving, "its now a trap to buy" the reason for making such conclusion is because of the Japanese that I don't fully grasp. The market is open to anybody to operate and decide what you want to do with the currency phenomenon. I was surprised that you were discouraging people to buy but not encouraging others to sell when it would have been a profit position for someone who bought yesterday. Anyways, time they say, will tell. I read your earlier posts and I was more convinced than before. When there was $100 increment, it was someone who caused it, now its $300, it the whole of Japanese that are the culprits now if the price increase to $8000 I wonder who you would ascribe the credit to. |
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I read some criticism around Bitcoin, because is too volatile, but this is the reason for the success of this crypto ( and others), imo
Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.
I just can't see a clear disadvantage on being too volatile, something that could make ppl loose interest on Bitcoin. I would like to hear opinions on that.
If you can't see the criticisms that surround bitcoin volatility by comparing it with gold being so worthwhile, it means you will be limiting the potential of bitcoin to just be a store of value but bitcoin goes beyond that as it can go a little step further from gold which is in addition to being store of value, it can be a measurement of value and that is where those who criticise bitcoin have a good point. Today gold is limited to selected people who have the means to own it and most times countries which means that it means for selected few but that is what bitcoin came to disprove. A lot of people don't have gold including me but more people have bitcoin and its because of the decentralisation. The moment volatility is settled not for price to be constant but to a large extent, then acceptance would be then be massive which would be could for the entire market. |
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Why shouldn’t we be concerned? Seems like everyone on here is extremely confident will see a bounce back to the December highs and then surpass them, but this dip/crash is now 5 months long. So I’m curious as to why so many of you are confident?
Its not as if people are not concerned, but they are able to take it in as its normal in the market place and if you have stayed long enough in the hemisphere, you would have learnt patience either by default of by force. On reaching the all time high, even though that seems impossible at the moment and that objective gradually going out the window, it also does not remove the fact that people should have hope. Hope that tomorrow will be better, hope that you get a good job, hope that you have good health, hope that the all time high can still be reached, that is exactly what keep the market going, the day that stops, that would be the beginning of the end. Keep it alive mate. |
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The grouse and hostility against Roger Ver is not really about the debate as that was a smoke but the fire itself was because he changed sides, his loyalty shifted, and maybe he said too much for him to think there is need to apologise, which does not change peoples opinion about him as a sell out who is ruled by his quest for selfish wealth and more reason why I think his apology is not needed rather he should do the needful and hands off any relationship with bitcoin (including the attacks) while he continues to promote rigorously and religiously his new found love.
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Hello everyone
You all are worried about the price of bitcoin that why it is not increasing in value and you forgot the previous two years. In the previous two years we saw a situation that from the month of January to May the price was near to stability stable and with slow move and then after the month of June the price started to increase and it doubled up much faster and multiplied many times. It is sure that we saw a situation in the previous two years then we will also see it in this year. So get ready as the train will start within a few days.
Relying on the historical facts are good for predictions only but relying on to conclusively determine a trend of activities, and establish a pattern for the future would surely be the wrong way to go and not even with bitcoin that have succeeded in proving everyone wrong. In the past two years, a whole lot of things have changed that both to the positive and the negative. Regulations have become tougher, KYCs have reached all time high, advertisements have taken drastic hit, pronouncements have been made, fields of academic research have also been established, so also we have seen jurisdictions accepting bitcoin away from what happened in the past two years. The way I see things is to assess each year based on its own uniqueness and current happenings |
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I was perusing an article the other where the little fella specifically named ICOs as the doomed dotcom bubble and specifically left Bitcoin out of it. This is a fairly rare occurrence as usually it's lumped in with all the junk.
What are your views on this? Could all of the shit out there implode and die and Bitcoin carry on relatively unscathed or would it take a heavy hit too? I don't really see how it could just shake it off as I'm sure a large amount of the BTC buying was to pile in to that space.
Are they separate enough markets these days?
I must appreciate this line of thought that this is taking a look at things in a different way and I would kind of agree that bitcoin would survive but not unscathed because without being over bloating it, ICOs also play some roles in the increasing the awareness of bitcoin to the outside population because since the various regulations of ICOs, the restriction on the advertisement that can be carried out, there has been a dip to in the activities of bitcoin too. The reason is not far fetched when these ICOs do their advertisement, you dont buy with fiat but you have to buy with BTC which indirectly means advertising bitcoin. The reason why I think bitcoin will survive is that its was not an ICO in itself or set up for the provision of finance of a project in addition to the ground foundation that makes bitcoin to be sought after to keep funds and trade for other type of coins. |
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