Who is right? Devs or users?
I'm new to Lisk. Thought about investing as I like the idea behind it and as its price is super low. But the more I read about it, the more doubts I have.
This is a typical case of the irony of things. The way we see things is the perception of they are. In this case, its possible they are both right and also both wrong. The developers are making statements from the position of optimism whether its the current position, it does not matter while the users who might be influenced their own short term motive of making profit to assume the worst. Either way the only determinant to who is right is time. Neither of the parties can beat it. |
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I think the tax authority is being careful with words because the word 'money' connotes something significant and the moment an item is being designated as such, it becomes a legal tender and series of events will have to follow among which include an Act of Parliament backing such, institutions adjusting their payment platforms and most importantly being accepted by fellow countryman as a medium of exchange. While we are not there yet, I think its good to rejoice in the recognition which they have mentioned as that alone signify that the attention of authorities and institutions that matters is being sought and in no distant time, things will change significantly for the better.
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Its actually not surprising what the data is saying because in the real sense that is what is happening. I remember when some times last where the country I am resident was facing an isolated economic recession. It was at the time the fiat value to bitcoin was on the high side and everyone involved in crypto to have an increased in value of their holdings but in the real sense it even out eventually because when you change high, you automatically buy things in the local market high which makes one not better off economically as you will still maintain the same economic position when the economy was better but better than those who are into fiat totally as they are poorer than they were.
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https://www.newsbtc.com/2019/10/30/bitcoin-trades-at-large-premium-in-argentina-as-dollar-purchase-restrictions-set-in/Bitcoin is trading at a large premium on cryptocurrency exchanges in Argentina. Demand remains high after the nation’s central bank announced a further tightening of a limit on the number of dollars an individual can purchase from it each month.
The policy essentially forces the people of Argentina to either sink of swim in an economy with a less than perfect track record. Well, it would, were it not for Bitcoin.
According to data taken from local cryptocurrency exchange Ripio, Bitcoin is trading at a large premium in Argentina. Whereas Coinmarketcap has the price of the leading digital asset at around $9,150 at the time of writing, Bitcoin is currently selling at the South American trading venue for ARS$633,862 ($10,578).
The nation has been in the grips of successive economic crises which have seen the value of the peso plummet. In an attempt to stabilise the currency, the central bank first limited the amount of dollars an individual could purchase each month to $10,000 in September. Just days ago, it drastically increased this restriction to just $100 in physical bank notes per month. I guess the workaround is buying bitcoin and then taking a trip to another country where you can cash out in dollars using local bitcoins. The margin here is something an Argentina citizen can take advantage of or contact a friend outside Argentina to make a deal and since bitcoin breaks the barrier that comes with location or nationality, it becomes super easy to carry out such transaction. I don't think people are seeing bitcoin as a safe haven there despite the premium its trading. Rather, they are only having a surge in activity which makes demand more than supply thereby increasing the price and that is why the ripple effect is still not being felt outside Argentina where it is and I think its because of the limitation being place by their central bank which makes transacting internationally difficult. |
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I think you'd either have to really poorly informed and ignorant these days to assume anything about any country or region in the world anymore. You, for example, still talk about Africa as a nation when the concept is much larger than that. Continent? Region? The last person who talked about a single African nation in my memory, was Muammar Gaddafi;)
I agree, they got a lot of problems to fix. To be fair, a lot of those problems inherited or built in because of their colonial past, but also because of so many underlying needs -- basic health, basic education... etc.
Bitcoin is far, far from the solution they need. Not today anyway.
The problem of Africa is so complex that it needs to be approached from different sides at the same time and you could not have said it any better. If a solution is deployed which in this case bitcoin, it will only scratch the surface and not even move close to solution which is more fundamental. For a start, the larger population still live in poverty, there is high illiteracy facing the continent, there is dearth of infrastructure in addition to low penetration of civilization in some part of the continent. The worst of all is how the continent has been so unfortunate with bad leaders who are only about their pockets and the absence of structures and institutions to ensure the right things are done. Bitcoin is really far from solving its problem. |
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Fresh graduate can’t land a job in corporate world, because the guy on the top don’t want to step down, the capitalist want to pass their position to their heirs, and their next heirs and next heirs, fresh graduate have no choice and they pull through it, they become basement dwellers, they play video games, they mine bitcoins, they make savage videos, they do everything else except go to work for corporate scumbags, a decade later, many corporates begin to crumble one by one, General Electric used to be the iconic Corp that top students line up to compete for the few top position, now it is delisted from the DJIA index and the scumbags inside the Corp are fighting among themselves for their self-interests, it gave me a unknown pleasure to know that more and more used-to-be the blue chip, the best Corp in the united state the land of freedom, began to crumble one by one, they blame the useless millennials for messing up the entire scheme, I know deep inside me, I want them to failed so badly, can I finally have a good laugh? I hope so!
Wishing that they fail would for me is not the right move because the people who would be affected are your peers who manage to get in and they get their hope dashed while those capitalist who your grouse is really against have been settled because over the years they have made their fortune and build empires from their large bonus cheques they appropriate for themselves at the end of every year and they get to be better off should the company fail eventually as they can get another top role in another company while the millennials even bring their to their board because of their 'experiences' over the years as non-executive directors while the ones who play their cards right end up in political positions and committees to make policies that even affects you that don't give a damn about them and wanted their companies to fail in the initial place. So, what goes around comes around. Not everyone would work in a corporate environment and not everyone would mine at his basement. |
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Is there free exchange which is trusted and can list new tokens for free?
Just like @OmegaStarScream have stated, peruse that link and you might find one that fits into the profile you wanted. But the ''free'' will come with a cost which might necessarily be parting away with fees. Just be ready to comply to the list of things they might require you to do which might not be so for those who are willing to pay certain fee for listing. Some conditions might be that some of your coins must be held in escrow not to be in the market while others might put some stringent conditions that you might risk delisting should the volume on your coins fall below certain range. |
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Guys, we will be launching a prepaid card in November/early December in the EU. It will be linked to the user's Bitvalex account and will allow spending cryptocurrencies without the necessity of having a bank account. Basically, we were wondering what is the % of people that would be interested in having one? How many people actually already have one and what do they like/dislike the most about it? This way we can tailor our offering to what is really valued and important. Thanks so much for your help! Regards, Petya --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- https://bitvalex.com - Buy and Sell Bitcoin, Ethereum, Litecoin, Bitcoin Cash with EUR and USD <SEPA bank transfer><SWIFT bank transfer><credit/debit card><AdvCash> Good that you are considering this. It shows a business looking beyond what its currently doing but projecting into the future having estimated how the growth will come. The question you asked on what percentage, I don't think that should be what the potential client should be the ones to provide because if you leave it to them, then we can as well ask it for free. What should be done is to look at other similar service providers to know the charges they put on their card and how you can introduce your own penetrating price. |
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When there are regulations, its in the best interest of the company to comply because without that, there will be consequences that will not augur well for the business which this is one of those. The fine is even the smallest of what they worry about but the public image because the moment one is fined for noncompliance, it means they are probably guilty of it in addition to the barring of transactions that comes with it. @Op unfortunately, there is nothing you can do than to wait till they clear their issue and move your funds elsewhere. |
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This is a move that need to be appreciated by all and sundry that wants the progress of the crypto space really because its shows that you cannot hide under the anonymity that crypto provides and use that as a means to perpetuate fraud and think you can get away with it. There is the long arm of the law that can stretch to any length to ensure you are brought to the book to face the consequence of your actions.
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This is one error that should not have happened under any guise but yes it has happened. The only thing people need to worry about is be more care when they receive mail from Bitmex and try to double check and confirm before acting on such mail and at the same time be weary of mails promising some unimaginable returns without taking time to understand why you are receiving such message in the myriad of people that could be interested in such "opportunity". |
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You all might be knowing that Steam used to accept payments in bitcoin through BitPay, but they abruptly stopped it stating the price volatility of bitcoin to be the issue.
Stablecoins eliminates this very issue, could this encourage Steam or other companies like Amazon,etc. to start incorporating cryptocurrencies into their payment systems.
Is it possible some stablecoin might outperform bitcoin regarding this?
The real question is if bitcoin is stable, would it encourage companies you mention to start accepting crypto into their payment systems. Acceptance of crypto goes beyond being stable. If you look at the alt market, you will realize that there are certain coins that have not moved significantly over the last few months or hovering in a particular range, which can be said to be stable but does that mean it will be adopted? Of course not because it goes beyond that. What is the degree of acceptance or the ease of exchange to fiat, the control, the sustainability, the spread among other test that it must pass before being considered by any company. |
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Its unfortunate that you have to face this and there is absolutely nothing one can do about it. The annoying thing is that despite the fact that you have done everything they asked you, you are still at their mercy and that is the deficiency we have to face in crypto. Recently, I opened a bank account and there is need for address verification, the moment this was completed and I couldn't access my funds, a complain was met with apology and action that I was delighted with but not in crypto. Going to social media might have make things better but it seems there are enough evidences that would have influenced their decision to the better if they are serious about doing it. The way out is to wait it out by constantly reaching out to them until they answer you.
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Fifty million people would not be exposed to crypto as a result of this form because when you see a form, its expected to cater from all categories of citizens and the moment it does not concern you, you just move on to something else and even if you are forced to read it, it still does not make any difference to you.
Reading the document and explanation from the link, I see no difference from what was done the previous year that crypto is subjected to capital gain tax. The part that remains still grey is the sale of a particular crypto to another crypto and not cash for a gain. Where do they expect the guy to get the cash to pay the tax except they would accept it in crypto.
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I seriously doubt an online petition is going to change the minds of the politicians in south korea...about anything.
This surprised me that crypto isn't taxed there. Does that mean you can earn bitcoin and not have to pay taxes on it? Crazy if that's the case, because I think such a situation has always been taxable in most countries ever since bitcoin was created. If you acquire crypto without actually buying it, that's the *definition* of income, and if it gains in value before you end up selling it, that's the definition of capital gains. So if s. korea isn't currently taxing crypto income or gains, they're just behind the times in my opinion.
The point is it won't. If a petition is going to be acted upon, there are always some certain conditions that would be met. One of those conditions is the population of those who signed the petition. You don't put a petition on a global forum for it to be signed when majority of the people who are the audience don't even have any connection to Korea. You don't raise a petition for the people in Washington to be take serious by government when it is signed by those living in New York. So, if there is any chance that this might would make any difference, then it needs to be signed by the citizens of Korea and have serious discussions and dialogue with government representatives. |
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In my opinion going public is not the right move for now and it will just do well in draining the resources they have by the time they pay the neccessary fees, legal fees and consultant fees and the initial price does not grow or traders in the market are not interested in trading the company's stock. The reasons are not far fetched.
1. As a company going to the market, there is need to have maintain some stability over the years in which a trend analysis can be computed to be able to predict the likely ROI for investors but from the analysis so far, this company clearly does not have it and there is a sharp change using two year comparison analysis.
2. The financial market is not ready for crypto related product because of the fear that of uncertainty from government and its regulatory agencies which means even after the right compliance, the stock market board can still refuse listing which will deal an heavy blow to their resources.
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Of course they will panic just like if a news should break about holders of bitcoin risked going to jail because of certain law being passed in the country. Panic is sure to set in. While I might not know the details of the provisions of the law, there is no doubt its needed in this era where anyone with access to internet and laptop can declare himself a journalist without apology, send out fake news, have blogs, influence youths because of large followers and if this is not put at bay, it can set the country on fire. There is no need to politicise things by claiming it was done by the democrats. Its an action that needs to be taken to avoid breakdown of law and order. |
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You don't need a licence to own a car, nor to drive one on private property, such as a racetrack. You only need a licence if you want to drive your car on public roads, which (by the definition of "public") are the property of the government, so the government is allowed to place restrictions on who is allowed to drive there.
This your answer is just the perfect one. Since he is arguing that he should be paid for getting a license, then he should just avoid it all together because I have not seen how someone who is on wheel chair would need a licence. Most times people always think the only motive of government is to raise money via any means necessary forgetting that sometimes its actually a way to protect you and also protect other members of the society. Imagine everyone getting paid for a license then it means we all would have one even though we all cannot afford a car and say we all afford a car, then we all drive at once which overstretched the facilities then we get taxed higher to further complain about that not considering other effect to the atmosphere that exhaust pipes would caused. |
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I don't think it's Bitcoin that they should be adopting at all. It's slow and Facebook will want some sort of control over it, with Bitcoin, they can't.
We've seen one of the Facebook blockchain devs (David Wong) singing Algorand's praises in recent weeks (not to mention interest amongst top banks too), maybe exploring their tech could be the way forward...
Who knows where this is going, I don't really think we need Libra to be honest. There's plenty of other platforms that make more sense and have already established a footing in the DeFi space (Algorand mentioned above, Ethereum/MakerDAO obviously).
I was looking to see a quote or a link to the source of where the US congressman made the statement before your own opinion, but none of that is happening which makes the title of the thread misleading. The major undoing to Facebook Libra is nothing other than control and it will be difficult to convince the general populace that its not going to happen. AliPay has its own payment system but even though there could be some collaboration with other global companies, its manageable. What Libra wants to go on with is massive and should it be successful, I see taking over from national currencies because as these companies cuts across borders, so also will Libra and that is the fear of majority of governments and its official has against Facebook. On whether they should adopt bitcoin instead, time will tell... |
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When we hear about Africa most of us assume about the poverty or unemployment but honestly the kind of natural minerals they reserve they could be one of the richest nation but the problem over there is that neither government nor the citizens get benefited by their natural reserves due to warlords occupying it but do you think if government takes stern step and utilize the resource in the appropriate way and accepts bitcoin as a payment mode for exports then Africa can bloom again and this will help bitcoin if those products can be purchased using bitcoin so it will increase the trade which will benefit them in their GDP and will increase the demand for bitcoin thus triggering the price pump.
I don't know which Africa you talk about but the African countries I know that have the numbers to make the push are not ruled by warlords. For example South Africa is not rule by a warlord, Nigeria which is the most populous African nations is not also rule by a warlord the same goes for Ghana among other countries. The problem with Africa is the lack of adequate leaders and the structures is not enough to push for the expected change. Majority of African countries didn't get independence until the 1940s-1960s where USA has had hers for centuries and they have been developing and putting structures in place till this day and other advanced countries across the world. Until when this fundamental things are put in place, Africa will still be rallying within the same space but with time, it get to achieve its goals. |
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