i never panicked easily when i see the fallen price of my coins that i hold. especially on bitcoin. i bought it and hold it since january 2019 and sold it at last month. i have so much profit from my patience. no matter what altcoins do you have, most of their price will pump if bitcoim is pump too.
but the fact that's not always like that. bitcoin and altcoin are just small correlation between them so, it makes both doesnt always similiar price movement. even in this time, both has lower correlation than last time bitcoin can go up and altcoins do opposite, it make people who hold altcoin being tested their patience it is better to sold altcoin and move in bitcoin now That happens because bitcoin is the king of the market so it dictates the movement of the overall cryptocurrency market. When bitcoin go up and the altcoins go down, it simply means that the people are chasing the money and they don't want to lose the hype train to make profits but that is not how you should act on that circumstances because it is better to stay and accumulate while the altcoins is going down and be patient and sell at the top. |
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It is simple economics. When the people see that the price is really low and if there is a strong support for the price then that is when they will get into the market and buy a lot of the particular coin and when that happened, it will trigger a pump in the market that will create more hype, resulting into having a price rally. So it is simply law of supply and demand.
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what's it like to live only on crypto instead central-bank issued fiat money? Living only on crypto without the natural bank should only exists in our fantasy because banks plays some dominant roles in making crypto to be worthwhile e.g bitcoin is often quoted against USD (btc/usd) the usd will no longer be there if there is no natural banks thereby nothing to stake btc against. This can be possible with online businesses and merchants only and not all online business will accept crypto based on choices but it might be difficult in a physical open shop. Most of us ended up exchanging crypto to fiats and this makes banks to be relevant. It is not a fantasy to live in the cryptocurrency instead of banks. You can still do your day to day tasks without using the service of the banks because there is a lot of remittances around our country and that is where we are going to cash out our money in cryptocurrency. Banks are mostly used for loans and for keeping our wealth but for growing our capital faster and more secure then it will go to cryptocurrency. |
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first of all if companies are given permission to operate and use cryptocurrency as a mode of payment they are fully responsible for each transaction, if they are caught abusing or monopolizing their business, I am sure the government will easily close and take down their networks and businesses. I am sure that if a business is given an operating license for use cryptocurrency, entrepreneurs will take care in managing their business, so it will be mutually beneficial for the government, users and entrepreneurs.
For me, once crypto will be legalized and will be accepted by all merchants, tax is already enclosed in every item that we ought to buy. So even if we are already using crypto, tax is already imposed in there. But on the side of the government officials, corruption will be minimized since crypto is very transparent as a currency. But development in each country will still be happening. i thought taxes are only possible on fiat use ? but on cryptos no i dont think so because cryptos arent came from the public institutions . on the other hand corruption will still be possible and cryptos are not the solution to eliminate it because those corrupt people will still be able to use the traditional system and they will still use fiats if possible . so my overall response is both ( it can boost and neutral ) It is about where you are located or where do you live in. Cryptocurrency can be tax if the government in your country do regulate the usage of cryptocurrencies. In the US, they are doing this where the user of cryptocurrencies are obliged to file tax from their cryptocurrency holdings and transactions. In my opinion, it is fine to tax cryptocurrencies because it is one of their ways to increase their fund for the government projects. |
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its not dead, the salary is not like last year, and thats why people said that its dead, or bitcoin popularity down, etc. if you searching more and more. you will find the best. and its not give you high salary, but it will give you some token that have big potential in the future
I agree with that. It is all about searching for the possible opportunities in the world of cryptocurrency to see some projects that could be the next big thing in the market of cryptocurrencies. It is all about having dedication and you should be patient also because with this type of market, it is harder than before to find decent source of income because of the negative movement of the market. |
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If we talk about the technical aspects, it is not enough of course a new and more correct distribution of coins, to spend such a lot of electricity for PoW in our time is bad for the planet and for people. PoS also does not bring anything good, since a large amount of coins can fall into bad hands and to some government.
If we are talking about fixed-issue tokens, they are usually in the wrong hands from the very beginning.
We need to understand why do we need blockchain? I see for myself only one use case as a check of integrity and immutability of data in the database.
As a cryptocurrency, it is still very unstable and not safe.
I may add that blockchain is very young for use in economic purposes! I think even young blockchain is enough to improve current economy situation. What the world is facing, only some technological innovation can save us and that has already happened. We have very good options with us. Blockchain provides anonymity and security. Crypto currencies that use this technology can produce huge profits. These are enough for improving one’s financial standard. This is the reason why states whose economy was crumbling adopted crypto currencies and they are even trying to make it convenient for the public the usage of crypto currencies and that is why Venezuela has launched first ever bitcoin ATM. People need to understand that we live in smart world and no country can survive without adopting latest technologies especially if they are related to economy. People have use smart currency at the future to keep inflation each transaction made, many people do not believe with their cash money have lower value at the future and must change their payment way with bitcoin as currency without inflation, people remember with their money value with last five year can buy with many kind but after inflation value of cash money make lower price and can't buy with the same thing like last five years. Financial literacy is what they lack because they don't understand the basics of the economics and how the inflation rate works. If we will introduce or add financial literacy here in the cryptocurrency world then it will enlighten a lot of people and they will realize that there is also other investment vehicles other than cryptocurrency that can help their money to grow over the time and beat the inflation. |
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Cryptocurrency is not yet well known around the world and only a few percentage of our population really know about the cryptocurrency so there is always a high possibility that there are still many people who are now investing into cryptocurrency. Some of those people are skeptical from the past and now understood how the cryptocurrency works and they now want to grab the opportunity.
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I think the crypto market will continue this way as long as there are no regulations that truly control it throughout the world. Maybe it should be the price of coins now. If 2017 is just a pump, some even try to review the news. We can't also assume that with high prices the market will become stable.
If anyone assumes that with high prices the market will stabilize, then that is very wrong, because in 2017 all coins have been at the highest price, but the market does not look stable, and that is proven in 2018, where all coins have decreased in price which is so severe, that many of the investors suffer losses. When the market is open 24/7 and if it is decentralized then there is no chance for a market to stabilize. Cryptocurrencies are volatile even when it is just getting started and there is no chance for us to lessen the volatility. We should just adjust and adapt with the market situation and take it as our advantage to prosper in the world of cryptocurrency. |
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If you want to invest into an altcoin that has good proof that the team is really working hard then go for BNB. BNB is a binance's token which you can buy from their own exchange and it is a good investment because the Binance team is always working hard to come up with great projects and they have a lot of good plans for the future that can boost the value of their token.
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Even though it came from a meme, it is a real cryptocurrency that you can buy and hold from different exchanges. It is also a good cryptocurrency to use as a payment since its value don't fluctuates that much unlike bitcoin and other big cryptocurrencies. Dogecoin is such an OG coin and I am a fan of it and I am still holding some Dogecoin just because I was mesmerized by the old days.
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Decentralization is a very useful thing, especially in those countries where there is a high level of corruption and inflation. I think that not only Africa can help blockchain, but Africa may be one of the first to try to fundamentally change its amenities and quality of life using blockchain technology. Of course, success will depend on the spread of this idea among the population. Indeed, detailing is not beneficial for the government, because it significantly complicates the management of the population. One way or another, Africa can be a good example for developing countries and countries with already developed economies.
There is a reason why new technologies always seem to be adopted the fastest in developed countries than in undeveloped ones and it is simply because their level of infrastructure is higher than the one that you can find in undeveloped countries, there is no doubt Africa could benefit greatly from the use of the blockchain technology since it could lower the level of corruption that you find in the continent, but do you think that politicians want that? If the people there will create a blockchain project that can make that thing come true then even the politician will be against it then they cannot do anything because people will push that project through. The only thing that they needed to do is to start creating projects that is related to blockchain so they can join the cryptocurrency space and possibly gain support from other countries that will support them to bring the change in their country. |
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Banks may well adopt blockchain tech for their own purposes, but they aren't going to create anything like bitcoin. Anything they use a blockchain for will be completely centralized and against the spirit of other cryptocurrencies like bitcoin. They probably won't even create any coin at all but simply use the distributed ledger aspect for bookkeeping purposes and they might employ smart contracts too.
And let them do it. I'm all for it, but nobody ought to think that anything the banks do will be in competition with bitcoin, because it won't. Blockchain tech and bitcoin are related but separate things when it comes to the banking system.
Of course, when a particular bank is creating their own coin, it is completely centralized. That's how they can fully control its distribution. But the thought that banks are creating their own crypto coin, means a lot already. It translates to the fact that they do believe the advantages of blockchain technology to improve their system. You are right. It is a good sign that the financial institutions are now trusting the technology behind cryptocurrencies and even though they are creating their own cryptocurrency which is centralized, it is still a good thing for me because at the end of the day, people will still explore the world of cryptocurrency and once they discover the decentralized cryptocurrencies, they will definitely choose the decentralized ones compare to the private cryptocurrencies of the banks. |
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It will not be problematic if the payment uses the only crypto to avoid tax. If the company or business in the country is opening payments via crypto makes payments faster and fees are cheap without any tax deductions. But the country tax usually exists annually and we are obliged to pay.
The local exchange will shoulder the majority of the tax, yeah the annual tax calculation will apply for the businesses uses bitcoin. Still, I think it will not be accurate since bitcoin transactions are hard to track. Yet, for the user who uses the bitcoin for canned transaction or trading purposes, their local exchange will be the one that will shoulder their tax, that is what's happening here in the Philippines. I think even though the traders will pay tax individually, it is still worth it to get into cryptocurrency because the potential of earnings in trading is very high and as long as you know how to follow the trend in the market and you know how to do some research before getting into something then you can make a lot of money. I hope the taxation of cryptocurrency in the Philippines will be the same to other major countries so people will be more interested into cryptocurrency. |
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I don't think it will replace the bank because banks have become very big businesses in every country, but maybe someday in the future some banks will use blockchain technology because of technological advances I find it difficult to stem.
Banks are actually getting started into jumping to blockchain technology. There are some banks in the Asia that are now trying to merge their system from traditional into blockchain technology because the realized the advantages of blockchain technology and how secure it is to rely on. In the next 10 years, I believed that banks all over the world will become fully blockchain powered. |
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I don't think you can be called a coward. many investors diversify risk on several levels. ranging from large risks to small risks. with the aim of their assets will be safer and accelerate its growth. therefore depends on the comfort of investors to choose which level of risk
There is no such thing as being coward when it comes to investing in crypto as this is not a battle or a competition. We are investing for one reason, we believe that crypto is the future and as it progresses we also like to get the benefit when its value will grow. Also, we have our own strategy on how to use the money to give us a positive return, so it should be based on our idea only, and it doesn't matter if its a high risk or low risk that we are taking, as long as we are comfortable with it, we should do it. I agree with that. As long as you know what you are doing then you are fine and you don't need to listen to other people's opinion. Their opinions doesn't matter because you know yourself better than others and you are knowledgeable enough to handle any consequences of your action. It is all about taking risks and then trying again once you fail until you reach the success that you want. |
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One of the target market of facebook for their own cryptocurrency called Libra is their users in their social media platform. They will launch a lot of ads and different ways to attract the facebook users to buy and use Libra coin. I am a facebook user but I don't that I will be buying their coin because bitcoin and other cryptocurrency seems to be better than Libra.
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KYC doesn't defeats the purpose of the cryptocurrency. KYC is a good form of regulation instead. It is helpful because when you undergo KYC in a certain website then it will be harder for other people to steal your cryptocurrency because you have the proof of ownership since you submitted documents supporting your identification. One of the best example of the advantages of KYC is being KYC verified in an exchange, it will make your account more secure and your limits higher.
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BNB is supported and created by exchangers who have great growth and innovation, for now BNB is one of the big altcoins. if binance has very good growth in the future, it is likely that BNB will become an altcoin that is bigger than ETH and XRP. Bitcoin dominates the market today, I doubt if BNB can surpass bitcoin where bitcoin community and support is greater.
It is not worth it to compare BNB and BTC because they are different. BNB is a token for an exchange to maximize the potential of the exchange and the discounts that comes with it. BNB will become the biggest token or altcoin on its race but I don't think that it will surpass at least ETH because ETH have a wider range of usage compare to BNB. |
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Hard truth but yes. Most of the ICO investors are in the project because they want a quick profit. I know a lot of people within my circle that are ICO hunter back in the old days when ICO was still a hype. They always look for ICOs and they don't do much research about it and they just invest their money and wait for the listing and sell their tokens at a 20-50% return.
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if you say dead maybe yes, because many ico are scammed and unprofitable for everything including investing and hunting for free tokens in some ico campaigns, but in fact Ico is always present every day, it's just that many of them are fraudulent projects, maybe IEO has overcome the problem project fraud and more profitable for investment.
A lot of the cryptocurrency users and investors have a misconception that IEOs are 100% safe. No one should assume that the IEO investment can only be profitable. There is a lot of hype surrounding the IEOs and it reminds me of 2017, when such a situation prevailed with the ICOs. What happened with the ICOs in 2017 is repeating now with the IEOs. We should not underestimate the scammers. They are getting more innovative by the day. They will be ready to pay the heavy listing fee on Binance and Huobi, if they think that there is a chance of getting good returns. It is true that the exchanges such as Binance screen the tokens before their listing, but they can't vouch for the timelines for development. It is true that not all of the IEOs are 100% safe especially the IEOs in the small exchanges because there is a huge chance for them to runaway with their funds once they finish the IEO. It is better to stick with the big exchanges and wait for the IEOs project there to get a higher chance for a better return because the more popular the exchange, the higher chance for profit making since there is already a lot of audience that can buy the IEO token. |
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