Should small island economies like Jamaica,
Malta, Seychelles, Cook Islands etc develop their own Crypto currencies?
What is the way for these small economies
to be part of Blockchain world ; and use to improve their trade
and economics with rest of the world?
It would be a good transition but this decision would be entirely depending on the government views related to blockchain technology or do create their own cryptocurrency since they do have a small vicinity this would be a good idea. Im not seeing any countries or places did such thing but sooner or later we would able to witness that thing because decisions would really be made.If they would go with such innovation or would stick into traditional ways. I don't think this will be a pretty good idea. Small Islands like Jamaica etc. requires some great deals of funds to arrange finances for their tasks. Moreover due to a less amount of population they need to ensure that whole of their population grows together. Crypto solution will not be able to cater such needs. Cryptos are too much hidden so the tax problems will continue to arise. On the contrary however if they are able to create such crypto where everyone is assigned their own address with KYC and accountability is kept such a thing would really defy the greatest feature of crypto that is the P2P transaction system. |
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Do you know if there are Crypto Indices? top 3 Crypto or top 20 etc.?
I heard that Payperex going to issue Cypto Index, any thought's?
Crypto Indicies is a really good idea. But I think it will be difficult to come up with the collection of coin which will form the part of such a index. Indicies are best in situations where the whole market isn't driven by some same force. I mean when different coins/stocks are differently affected by a news. Same isn't quite true when it comes to crypto a news against a crypto is enough to shake the whole market to ground. Just a scroll over the top 100 coins will give you a great idea about the market today. Index will be useless atleast until now when BTC has such a huge dominance in market because it acts like an index in itself. |
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I have been thinking of this for long and the reason being that a lot of bitcoin transaction is going online everyday in many countries and i think government can generate IGR from this if possible. I am not a programmer and i have a little knowledge about bitcoin technologies but i just want to know if it is possible.
Not until people or the tax payers themselves decide to self declare their income to the government. I mean the exchanges can be said to meet KYC compliance but you can't say the same thing for the private key wallets as they are public wallets with no central company owning them. So taxing your bitcoin in private key wallets is next to impossible. All they can do is monitor exchange transactions and tax them. |
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Do you an experience of investing in ICO? Was it a good experience? Have you raised anything?
I think you mean if we have earned something back in an ICO? Yes I have earned some good amount of money until now from Social Project. They are a decentralized social networking website and mobile app. The Social was the very first ICO to hold a buyback of certain proportion of the total supply. I was able to almost double my earnings from this ICO. |
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Is there a chance that altcoins may rise up again on the first week of February?
Is there someone who can really answer this question? Crypto market is really the largest gamble world. There are a lots of ups and downs in cryptos. Moreover these ups and downs sometimes can be much more volatile. But frankly speaking until there is a pretty concrete news there is no one who can answer the question. May be the alts might crash in the first two days and boom back again in the last days of the week. So just be relaxed and enjoy the moment trading or else just HODL. |
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For some people keeping track of their portfolio is quite easy if they only have Bitcoin and keep it in their wallet - this means they only have to multiply current price with the amount of coins they own, but when people start getting into alts and multiple exchanges, things become more complicated. The easiest method is to use spreadsheets, but they still require a lot of input if you can't get the price automatically. Then there are apps that can be linked to your exchange accounts.
1. What portfolio tracking tools do you use?
2. What features do you want to see in apps? Do you want to connect them to your exchange accounts or also have an option to input your portfolio? Do you want to have a desktop version?
Simple portfolio tracking tools might not be that accurate due to a pretty simple reason that prices of various coins are largely varied over various exchanges. While the second option is just highly risky. You can't even think of connecting all your exchanges to a central platform. I hold a hell lot of alts and its almost impossible for me to predict the inventory at a certain time. Because price is too largely fluctuating and decimals create much larger problems. But yes now I really want a spreadsheet of my own which could pick up all my values automatically from the exchanges. Everyone could have such a customized sheet where you could just fill the number of coins you hold and the value can be calculated automatically. |
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Both John McAfee (creator of the antivirus program) and James Altucher (entrepreneur, hedge fund manager and author) have made a claim that BTC will hit $1 million by the end of 2020.
That means that the market cap will be about $20 trillion or so. If BTC is 33% of the entire market, that means the cryptocurrencies market will be a whopping $60 trillion, or 1/3 of all the money in the world.
Too crazy to happen? What do you guys think?
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@charteroakpublic
- a Telegram group with leaks from premium sources like Palm Beach confidential and more.
You know how far $1 Million still is? I think this is just a baseless claim. For a market of 20 Trillion dollar we need almost every person of the planet to come and invest atleast $2857 into bitcoin on an average. Do you really think we will be able to achieve such a per capita average this soon?? I don't really think of such an imaginable scenario. Once everyone will enter bitcoin it will just stabilize somewhere. $1 Million is big dream. |
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If I make money on crypto currencies. How do I avoid as much tax as possible?
Bitcoin currently is taxed only by the South Korean govt. at a rate of around 23%. But tax can be collected merely on amount which you withdraw in exchanges. So the simple rule to save tax on all your crypto earnings is to store the bitcoins in a private key wallet where you don't need to do any KYC compliance. So you are anonymous just with your wallet address. But the problem is that you won't be able to get a fiat conversion of your bitcoins until you bring them to exchanges. |
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I do think they are impacting bitcoin prices a lot. Players in CME aren't kids they do know how to manipulate value of such a volatile market quite easily may it be by giving in some fake rumors. But yes its quite possible they might break at around 10K. I don't think the price could go lower than that there is a strong support point there at $9600. Bitcoin market isn't only affected by CME acts and incidents.
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Another way to draw back peoples attention to precious metal investment, gold-backed cryptocurrency. what is your view on this?
Nice idea but you really think in so many years of cryptocurrency no one would have thought about it?? We already had currencies like Xauram, Deep Gold and many others which were backed by gold but they haven't been quite successful lately. Another great idea of crypto backed by silver came by the ICO SLVR which wasn't even able to meet its minimum cap. When it comes to real estate tokens there have been lot of tokens too. I don't think they have in any way helped in growth of metals back again. |
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I'm thinking about getting a Nano Ledger s. At this time all my coins are in Coinbase or Binance and I don't have wallets for them. Do I need to create wallets for each of my coins first then transfer to Ledger nano or can I just transfer straight from Exchanges to Ledger Nano.
Ledger Nano is nothing different its just a separate wallet in itself which has its seed stored in physical drive. It has a wallet address of its own so you can directly send your bitcoins from Binance or coinbase or any other address and send it from ledger nano in the same way too. |
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What are all your methods? you use to secure profits from your crypto? when markets are green and you take profits with you before the market goes down
The best way to secure your profits is the stop loss method. In this method you enter into a trade and set a stop loss which is a point below your entry price where your holding will be sold automatically. So what I do is when the price of the coin gets a bit higher than my entry target I regularly shift my stop losses. This way even if the whole market is going down I will still be in a profitable trade and moreover will be safe from the further degradation of market. |
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Just out of interest...
I am a long term HODL got in in Oct to BTC/LTC (orignally 2bitcoins in 2015 but sold due to expensive kids haha). I always said i'd hold long term, but tbh i dont really have a point in my mind where i'd sell.
I'd suppose, i'd stay in to the point where i'd be able to pay my mortgage off, which would mean LTC would need to be £6000 a coin and BTC increase accordingly.
What price do you have in mind which would be a sell point?
Nice question I must say. Most of the people think that HODL is like you just sleep off with all your coins in a private key and wake up after months or years to sell it but its not really like this. Most of the people really do monitor the coin regularly. Moreover what is the point where you think that the HODL has been successful. So my theory. I usually always have a theory behind my HODLing. It might be the underlying project or some important announcement after some time or the prospects of the project. So the point where I sell is the point when these prospects are achieved. I dont think much about it in terms of price targets. |
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Jan 2014, China bans bitcoin trading https://www.reuters.com/article/us-china-bitcoin/alibaba-division-bans-bitcoin-after-china-crackdown-as-ipo-looms-idUSBREA070F620140108Apr 2014, China won't ban bitcoin https://www.coindesk.com/chinas-central-bank-governor-pboc-wont-ban-bitcoinMay 2015, bitcoin supposedly banned in china https://www.ccn.com/top-10-countries-bitcoin-banned/Nov 2015, bitcoin not banned in China https://www.coindesk.com/taiwan-finance-regulation-bitcoin-ban/Jan 2016, China wants to release their own coin with potential threats of btc ban again: http://bitcoinchaser.com/crypto-currency-chinaJune 2016, bitcoin not banned in China https://news.bitcoin.com/china-recognize-bitcoin-peoples-rights/Jan 6 2017, china threatens to ban bitcoin https://themerkle.com/how-the-peoples-bank-of-china-denied-bitcoins-ath/Oh, but a week later, Jan 13 2017, China isn’t banning bitcoin https://themerkle.com/why-china-isnt-interested-in-banning-bitcoin-importance-of-regulationSep 2017, again China bitcoin FUD due to ICO ban https://www.forbes.com/sites/panosmourdoukoutas/2017/09/09/why-china-crushed-bitcoinAnd crypto exchanges were dead in China by early nov 2017 https://www.forbes.com/sites/kenrapoza/2017/11/02/cryptocurrency-exchanges-officially-dead-in-china/#19938f52a839JUST BEFORE the BOOM to nearly $20,000! currently, Jan 2018, china threatens to ban bitcoin causing btc decline http://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-price-china-exchange-ban-cryptocurrency-trading-government-a8161721.htmlThis is just a tip of the iceberg, this Asian BTC-FUD has probably happened a dozen or more times over the last 4-5 years. And now we are going to see another BTC all-time high in the coming months! Haha curious I never knew this. So we should really contact China and ask them to settle all this at once and decide what they want with bitcoin and cryptos. I think China being such a huge market has a great impact on the price of bitcoin. When on peak chinese exchange's had a much higher price of bitcoin than the rest of the world but I still think that China won't be able to come up with a complete ban rather it might just hold off things for sometime. Market will recover soon. |
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I always wonder when Lightning network will be implemented?
Because the block jams hinder the BTC is the cause of the rise further, I think if Lightning network can solve this problem, so the btc will rise further, but I seldom saw about any new about the lightning network recently.
Lightning network has been developed and is under its testing stage which too is almost over. So we can say lightning network is here. But unfortunately there is still no information regarding as to dates when it will be used in various commonly used applications like Electrum and Mycelium. Moreover you might know that in a place where even segwit hasn't been implemented to all wallets how can you expect lightning network to flow in so swiftly? |
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From the past few days the bitcoin has been plunging but as they say things fall before rising up. So any ideas or predictions when bitcoin is going to cross $20k mark?
Not until march. The year 2017 is repeating. In 2017 too we got a great depression at the beginning of the year bitcoin fumbled a bit and just carried its way lightly towards 1000$ slowly and slowly similar thing is going to happen as bitcoin moves closely towards 25K. This time the raise will not be that furious as we saw towards the end of last year. |
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Only a few years ago we had a growing number of shops here in berlin that you were able to buy food and/or drinks from for bitcoin. Right now there are no more of these stores left. And most of the sellers I used to buy things from on the big marketplaces now refuse to trade bitcoin too and changed to etherium. I know for those people that think that bitcoin is the new gold it is not that bad but bitcoin was "released" to be something completely different. Right now bitcoin is no real crypto currency at all. Buy a coffee for 2,5 bucks and pay 25 bucks fee.... sure.......... In my opinion bitcoin completely failed because of these fees and I sold every last satoshi and invested in other crypto currencies. Is there a single reason to stick to bitcoin? If yes, please feel free to tell me!
The huge fees is getting its solution I think its the chronic disease of FUD's that is killing bitcoin in general. If we see as a whole today there are lot of people involved in crypto trading so just a slightest of a rumour is more than enough to burn the whole market these days. Fees problems is getting solutions like the lightning network and segwit. Segwit itself has been good at removing high fees problems. |
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