American Banker, a daily trade newspaper that has been covering the financial sector since 1836, recently featured an analytical piece by its editor-in-chief Marc Hochstein entitled “How I missed the point of bitcoin,” to demonstrate how Bitcoin has shown what global banking should be.
Fees and speeds
In 2012, Hochstein noted in an article entitled “Lightning fast, dirt cheap: bitcoin shows what banking could be,” that a new peer to peer digital cash system has emerged. Five years ago, Hochstein praised the Bitcoin network’s ability to settle transactions with low fees and at fast speeds without the necessity and involvement of intermediaries or mediators.
The decentralized nature of Bitcoin remains identical but what has changed in Bitcoin is its fee and settlement speed. Due to the explosive growth of the Bitcoin network and its market, average Bitcoin transaction fees have increased beyond $2.5. In addition, at certain periods wherein the Bitcoin mempool, the holding area of Bitcoin transactions for the miners, is full of unconfirmed transactions, the confirmation of transactions can take hours.
Financial privacy and cost-effectiveness
Since its launch, the problem Bitcoin went on to solve was not the high fees of banking services nor the issuance of an anonymous financial network. Financial privacy and cost-effectiveness came as byproducts of Bitcoin’s actual purpose. As Marc Hochstein wrote, Bitcoin’s primary focus was to establish a global digital cash system that is censorship-resistant and decentralized.
“No, the key thing about bitcoin is its censorship-resistance — something that I only obliquely touched on in my original post, when I mentioned that the currency could be used to purchase drugs on the dark web or send donations to WikiLeaks, which was then operating under a blockade by the major payment networks,” wrote Hochstein.
I would be happy if this same guy can be interviewed today and to know if he will still maintain the same position because truth be said in as much that he advantages he was referring to were very much valid 5 years ago, they are really fading away as at today when to transfer funds from wallet then you need to be conscious of the fees in addition to the time for it to confirm. But I am hope that the challenges are ephemeral and that bitcoin will be back and stronger then good old days will be back. |
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Hello,
Most of you are confident with the long term for Bitcoin. Yet some altcoins has the same features so why are you so confident about bitcoin and not about litecoin instead?
I compared them and approximatevily the same assets!
The only difference is that bitcoin was the first, is it that important?
Your comparison of the two and arriving at the conclusion is based on what you wanted to believe but that cannot be the only factors why others prefer on to the other. In my own case, when I started with crypto currency, and I was exposed to faucets, did I see any LTC faucets? NO but only bitcoin, did I get involved on LTC dominated forum? No but BTC now tell me, if I want to keep my investment and I have to choose of the two, which one will I go for? Definitely bitcoin. |
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Russian Burger King restaurants are due to start accepting Bitcoin as a payment method this summer, reports state on Wednesday. According to local news resources, a Moscow branch of the burger chain has started piloting Bitcoin payments, with officials now confirming a nationwide rollout. Uznay Vse states the unnamed branch accepted a Bitcoin transaction on Tuesday this week, which represents “the first official reports of Bitcoin payments for goods and services in Russia.” Burger King has also begun the hunt for an IT professional able to implement the relevant software. “Several programs need to be written which will allow restaurant tills to speak to the Android and iOS apps and allow customers to pay with cryptocurrency,” Uznay Vse continues. Russia is becoming an increasingly pro-crypto environment this year, with Finance Ministry deputy Alexey Moiseev saying this week that such currencies may be legally traded on exchanges if subject to “appropriate regulations.” Source : https://cointelegraph.com/news/burger-king-to-accept-bitcoin-in-russia-this-summerEven though this is a good news to the crypto world but I still feel there is need to exercise patience in other to find a lasting solution to high fees and long confirmation time like someone have rightly said. I don't expect to buy a burger for an equivalent value of about $7 and I have to pay $2 for fees so my payment can get confirmed if possible before I finish my bite. And aside that how do I pay immediately and get my order before leaving the shop if I don't want to eat there these and many other questions that need to be answered before implementation. |
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These same set of people have turned the world to what it is today and they have failed woefully after we have mortgaged our future for them to be in charge of decision making. However, I dont expect anything different afterall, I have witnessed on recession in my lifetime and it didnt kill me and several people I know. And as a consolation, I am already involved in bitcoin which was the up-shoot of their failures in the one I have witnessed so I am good to go.
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there are many reports which states that the coins sized my GOVT agencies will be auctioned soon...
if we do some calculation i think there are aprox 1000 BTC (maybe more) which are freeze by agencies from various counties
if i remember correctly Silkroad admin alone had 300+ BTC..
now if those reports are correct
and if those BTC again come to circulation
does it mean we can expect a huge decrease in BTC rate in future ?
I want to even understand how it will be auctioned because only the physical coin I know can be auctioned and if that should happen, it could even be more than the current price for anyone who is lucky to redeem such. So if that should happen if I for example should buy at a price above the current price then I wont redeem it immediately because that would mean incurring a loss then I would have to wait till the time the price would reach what I am comfortable with before redemption that also points to the fact that not all 300btc will be released to the market at one so there is no cause for any alarm. |
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TTT is a trading asset plan base on taking advantage of hole existing in bitcoin and altcoins trading. This hole exists on over 20 largest crypto currencies that are being trade in most major exchangers trading platform.
I really dont understand the message you are trying to pass here. What is the hole or the gap that your intended TTT assets is planning to block or exploit which in this case you have not even explain how it will work and how you intend to achieve that and also the platform to effect whatever thing we are talking about here. Hopefully, you can come up with more information in other to satisfy our curiosities. |
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I don't mean any offence or to offend anybody at all, it's simply a question.
Was slavery in the US that bad? By having slaves and abolishing slavery later on, yes it was cruel and wrong BUT with slavery they've saved the many generations of africans from potentially dying from a disease, war,etc... and gave the new generations of slaves to live a normal and a lot more happy life in the US later on. So was slavery actually that bad?
I hope that you've understood the question I wanted to ask, really sleepy right now but wanted to hear your opinion on this one.
I have a feeling you are white because if you are not, there is no reason to justify what you have just said that despite the good life as you have rightly noted, every black citizen in the US going back one or two generations cannot but identity with the fact that they are there as a result of slavery and nothing else and they will not go away even till the present day because how do judge the various racial incidents still happening in all facets of Americans lives from Hollywood to Military among other sections. |
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Iceland is the first country which comes to my mind. Criminal rate is very low here, I heard that people in Iceland aren't locking their house doors.
I think New Zealand is also peaceful country. I can't remember when I heard bad news from New Zealand last time.
Also, small European countries like San Marino, Liechtenstein, Faroe Islands and etc is also safe and peacful (i think).
The only country I would say are Islands that the population can be counted and they all live like family that's and also other countries too can be peaceful depending on the environment one is residence because there are some choice areas that makes provision for their security and this makes them safe. |
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In the case of pumping groups I see the innocent like OP falling prey of such moves because if the quest to make money fast but no knowing that its just another way to lose the little you have. Mostly pumps are based on timing and the timing you might be entering will be the exit for majority of others and if you are not online to monitor the price to quickly exit as soon as possible, you are in for a long thing.
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Guns over here are expensive piece of item that you don't get to see in individuals hands because there is no legal basis for it even though government has been found wanting in keeping everyone safe. If they had legalize it, I am sure I would have had access to one and won't even need to rely in government protection as it is now when within the twinkle of an eye, anything can happen to you and you are helpless.
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... Being in Turin (Torino), Italy's fourth largest city, I had been hoping to buy a little BTC (Via Juvarra 15 according to https://coinatmradar.com/country/105/bitcoin-atm-italy/), but I found students at the entrance at V.J. 15 telling me it was just a school and there was NO BTM inside. Other than that, Turin is an interesting and nice city! Sometimes when things break on the news, the implementation don't just follow as it is announced due to logistics issues while in some other cases, its 'leaked' to the press in other to get the reaction of the people for such moves whether its going to worth their investment or just a white elephant project without any return to lay claims too. Either way, they also would have gotten back some response and sure to take necessary actions. |
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Where the issue of liberalism is getting to we might have to lose the moral values religion instill in is at some point because this 21st century has grown with so much knowledge that almost every thing that seem unanswered to and solace is taken in religion, has mostly been answered by virtue of advancement in science and technology and also the emergence of Artificial Intelligence has equally give credence to it. I hope we can find out path
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I am a Filipino and I have some relatives living there. Since high school i have heard of rumors that America has a lot of secrets. I even read an article that says America will lead the 666, it said that the CIA manipulated some countries to make their dollar stable and strong, so on and so forth. I don't know if this is all true, what do you think?
Any country that will be as 'great' as America to be the most powerful country in the world will have more secrets than any other country and would even not be liked by so many country especially those that are against their ideologies. US in some areas I like the way they practice their own form of democracy but I don't trust their resolution of not interfering with internal issues of countries especially the ones they know cannot match them. This is where the grouse comes from. |
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The IRS has set out specific rules in regard to Virtual/Cryptocurrency that you will want to understand as you build your Cryptocurrency Portfolio. Some of the important points in the document include: - The IRS considers “Virtual Currency” to be “Personal Property”. This means it is not subject to rules that apply to Securities such as Stocks and Bonds.
- Trading “Virtual Currency”: “Under currently applicable law, virtual currency is not treated as currency that could generate foreign currency gain or loss for U.S. federal tax purposes.”
- If you receive payment in “Virtual Currency” for goods or services you must declare it as income for the “fair market value” of the currency at the time of the transaction.
“Virtual Currency Mining ” profits are taxable at the rate of the virtual currency’s “fair market value” at the time the “mining profits” are received.
Much more is explored in this document which comes directly from the IRS itself. Full IRS document: https://bitcoininvestment.news/irs-rules-for-cryptocurrency/If those are the rules without some hidden agenda then I would agree with the poster above that it could not have gotten any better because that's a fair playing ground anyone can wish for but my concern is how do they intend to investigate the claim of someone making the returns to the authority? In the sense that I feel there will be some other measure and mostly its going to be the market value thereby discouraging any form of discount and rebate to be given to those interested in using bitcoin by taxing at market value. This will affect new entrants more than those already involved |
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I have been waiting for Bitcoin to reach $3000 so that I can sell my Bitcoins, but seems as if it doesn't want to reach that value anytime soon. SHould I sell with the current amount?  Yes it seems that bitcoin prices do not want to reach $ 3,000 in the near future. Moreover, the current price is down to $ 2,400, it will take much longer to be close to $ 3,000. I suggest for now do not sell because the price is down, it will be a loss. It would be better to buy some and hold it until the price goes up, and when the price goes up you can sell. But if I am in your position I will hold my bitcoin until the price reaches $ 3,000. Takes longer time it does not matter because the most important thing for me is profit. It seems Op in hurry to get cash instead of waiting for bitcoin climb up to $3000, then you will regret in the future when bitcoin reach over $4000. Yes, traders want to get profits as soon as possible to buy another coin, in order to do that ; you have to divide your funds from the first time as bitcoin price fluctuate a lot these days. Everyone in the real sense is actually waiting for the price to reach $3000 but it seems rather than the price moving towards that, its rather drifting away which is is forcing some level of patience on anyone that you just have to wait a little longer which is not even certain that it will be reached anytime soon. Anyone can sell at any price just convince yourself you won't regret whatever happens afterwards. |
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It's unfortunate that you have to go through such things but truth be said if I am you, I would obviously fe the same way or even worse because my hard earned resources has been involved. I have seen paxful ad a lot of times but just decided to stay away. The fact still remains that you violated their terms and conditions which you have assented to before using their services and that's is why they have upper hand. You might have not have any issue but because of the amount of btc you transferred at once signalled something about "how can someone be buying this amount of gift card if not to resell which is against their policy". I would say if you appeal to them good, if they keep for 12 months that means they are keeping for you long-term.
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This is just one question I have been asking myself and even try as much as possible to find answer to by reading several threads on the forum and I have come to understand that bitcoin price determined by the forces of demand and supply is just say 10% of the causes while the remaining 90% is determined by factors other than demand and supply because I studying the price, I can't just understand why the price will fall at this time when there are several news on the web that should prove otherwise.
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Several banks have failed and several have equally been bailed out even in my country over here but that does not mean everybody will start coming into bitcoin because only those who are already in the system will be able to trust it to put their money after the banks have failed them as new entrants might find it difficult to trust the system couple with the current volatility which is now tending towards the downward direction. |
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Looking at the price now, has move the price to the $2300+ which is a lot of dip if you ask me but at the same time not weary because the market will likely correct itself and the panic sellers dumping at the same time might have wished they waited a little. To those who had bought high, and it seems losses are accumulating, its a risk everyone must take at this time and hopefully its one that pays off at the end.
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Funny how every time the market is in a recession and losers keep holding on to their losses they magically become "long term" holders.
God damn it, "long term" is such a stupid meme. Admit it, you wanted to get rich quick and once you realised you are too dumb to swing trade you suddenly became a "long term" loser.
Such idiocity.
You think Dan Balzerian held anything "long term"?
Long term is for losers.
If any one wants to hold and keep their losses within their acceptable limit, I don't think there is any fault in doing that and moreso its their responsibility and their losses in which they are not complaining to anybody about it. We should even thank them for holding because if everybody should dump at the same time, then we are looking at price rocking the bottom in no distant time. |
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