It's a big change and improvement to bitcoin for the past 10 years but we still need to go further to reach our aim which is mass adoption. Yes it is not accurate but this also matters because it shows how big bitcoin changes over time. Even without this statistics, we all know that bitcoin is continuously growing.
Another year will come for bitcoin and let's expect more positive happenings and more wallets to come!
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2. If top 50 people hold 50% of BTC and BTC becomes the global currency, we may face once again the previous era. Being slaver to certain people.
We don't have to worry about this one. Since it's still far from the reality. It would be really hard for bitcoin to be the global currency when there are governments who don't like decentralized cryptocurrency. Rather than a global currency, it's more near from reality to be an alternative global currency. Also right now, we're already working to earn bitcoin, and that's already an example of being under by a person who holds more power and bitcoin. Same thing will happen if it will become a global currency. We're still going to work for it just like how fiat circulates.
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As what I can see on their plans, they want to achieve more power. And cryptocurrency can help them achieve that. China is a powerful country and being one of the most powerful country regarding technology can help them be more powerful. I think China aims to be the leading cryptocurrency even if it means of competing with bitcoin (I hope they won't). They have their reason and plan why the president said something about blockchain. China creating their own crypto can affect bitcoin since China holds billions of population.
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Indeed. They're just using it to benefit from what they know and what others don't. Humans are becoming more evil. Using their knowledge in a not proper way just for their own good. That sucks but we cannot change nor do anything about it. That's why, we, as an individual must teach people we personally know, what we know for them not to be the next victim of scammers. Humans are also the one who can stop humans. Internet and technology are just our armors and weapon and we are the one deciding whether to use it for good and evilness.
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Blockchain technology is wide enough to be used in different sectors not only bitcoin. Yes they are related but blockchain does not mean bitcoin or crypto. Let's expect for more governments in the future to realize blockchain but not bitcoin. Most government are in denial or don't agree with cryptocurrency so it's hard to expect from them good comments about crypto. Goodluck on how they'll decide on crypto. But I'm glad that my country ain't that strict with crypto
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Would agree that the number of people, not only in America, owning crypto is increasing rapidly. Also no doubt that majority were boys. It may not be that accurate but it only shows the continuous growth of cryptocurrency which is good for us and crypto itself. Although regulations were implemented, it can't stop people from adopting crypto. This growth is not only limited in America, in other countries like my country, crypto is also starting to be known by the locals. Population might be growing but it will still be hard for crypto to reach the majority of the population. We still need more time to reach that level of growth.
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Obviously the government won't let that. They're obliged to pay taxes. Also it would be a risk for companies to use it as a main payment option just to avoid tax. They might be able to avoid tax but what if it's a loss from their profit when the price of bitcoin is low? I don't think most company will risk their equity just to avoid taxes. Instead of making it worst for the economy, it might be a worst for the company.
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President Xi Jinping is really a pro-blockchain technology. Even me can't argue that blockchain is really a good innovation and development for a country. Blockchain is not just about cryptocurrency, there are also different fields where we can apply the said technology. It can really transform the government for good, even the development of the country. But it can also transform a government for bad if it will be use for personal benefits. Though we still can't figure out what will happen and the plans of the president because he's not really into crypto- only blockchain. And we don't know how it'll will affect the market in the future.
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Funny that you are well aware of the nature of bitcoin but you don't understand it. To answer your question why would need btc and how to use it, read the whitepaper first. It'll answer your questions. There is a profit from bitcoin. Bitcoin is a risk! More risk, more profit. If you're afraid of risk, then bitcoin is not for you. Who need bitcoin? Us. people seeking for freedom from manipulative banks and governments. Also there are some aspects that stable coins don't have but bitcoin has.
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Everything will be decided by you after all. You know the factors need to considered when mining. The expenses is bigger (including the electricity you will use) so you have to think if you'll profit from it if you're going to go back into mining. Cause doing it alone at home may not be profitable. But I'm not stopping you if you really want to mine.
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It's normal for beginners to make mistakes especially when trading since they're still lacking of knowledge about crypto. And since it's normal, it'll help them to learn with their mistakes and to avoid doing the same thing. But I'm not saying they should experienced it. Try your best not to experience it but if you have already experienced it, just learn from your mistake. We were also once a beginner and experienced at least one of these mistakes but time will make us better. For beginners, just continue exploring crypto and you will learn a lot from it.
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Nope. Not Craig Wright. Let's get over him because he's not the real Satoshi. The more we include his name with bitcoin, it only means he's succeeding getting everyone's attention. If Hal Finney is the real Satoshi, he should've said it or left a message before he died. I know Satoshi wants to hide his identity but he should've told the world before he died just to give credits to his work. And he never really claimed to be Satoshi so it's still hard to make assumptions.
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It can change Africa for the better, if blockchain is used for good and better. Blockchain can be used in various field that can help them to develop and innovate their means of living. But I don't think it can help them politically. Also, in order for them to utilize the use of blockchain they need better education and knowledge which they need first to achieve before adopting to blockchain technology.
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It's really possible... And now, look at the Chinese government. The president praised blockchain and is also planning in creating theie own currency. There's really a chance of governments creating their own digital currency. Maybe not today but sooner in the future. It's a technological advancement which they will adapt eventually. Maybe it's still too early for some government since there's still a need for mass adoption. Mass adoption will trigger the government more to create their own cryptocurrency.
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It's not that they are not ready for Libra. They can, if they want to. But probably, people doesn't want or don't give much attention towards Libra. Libra didn't get much attention like what people are expecting it can get. And it's not because the market is not yet ready for Libra. Most must've prefer decentralized than centralized.
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OP, I can feel your excitement by just reading your post. But everyone's been talking about this. Primarily the reason why there's a sudden surge is when the president of China give a statement being positive about blockchain technology, and the plan of creating their own cryptocurrency. We don't know if that's actually the reason but after the Chinese president stated it, the price suddenly went up so everyone's assuming that it's the cause.
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That's a cute timeline. For me, what I've learned on this forum, basically knowledge. When I'm still starting and learning, dito sa forum ako nagbasa basa to gain knowledge. First about this forum. Then what is crypto, how blockchain works. Then nasundan na ng iba't iba. Pano kumita, then naging aware din sa gambling. For daily knowledge naman, mga news and updates din.
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Wow. Nakita ko yung city ko dito and I think that's great. And since sabi nga, 2017 pa ito ginawa, I bet mas mataas na ito ngayon since almost end na ng 2019. Hindi man sya kataas ng price unlike last 2017, pero siguro naman nadagdagan ang populasyon ng nga Pilipinong into bitcoin. Actually ngayon palang, kahit papano ay nakikita naman ang improvement ng cryptocurrency acceptance dito sa bansa. Hindi natin kailangan makipag compete sa mga develop na bansa. Ang mahalaga ay accepted at hindi restricted satin ang bitcoin.
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We have come across so many national currency becoming worthless and recently we have heard the news of barter system in Zimbabwe due to the fall in the value of national currency but what really makes the Fiat worthless? Is it corruption or war or national economical crisis? Or the National GDP which makes it fall?
Actually all you have stated can contribute and affect in resulting for fiat to be worthless. But in my perception, the primary resaon is because of the economy. Mismanagement of the economy may lead to crisis. A country may be in a great debt that's why their currency are losing money. Inflation as well. Some scenarios when a country is in debt, they tend to print more money to pay their debt but it causes hyperinflation which leads to their currency losing its value.
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That's great! We're getting more and more better news and update about cryptocurrency and bitcoin. It's a good sign that we're getting more people's attention through time. And now, I'm looking forward for more crypto/bitcoin related words being defined by Oxford Dictionary in the future. But I'm curious if does 'blockchain' already become a part of Oxford Dictionary?
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