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Bitcoin / Bitcoin Discussion / Re: Future of bitcoins
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on: March 29, 2018, 08:50:47 AM
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Large countries will never accept Bitcoin as a currency or allow their banks to deal it directly. It's not going to happen unless a country is going bankrupt.
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44
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: Should I just go commit suicide?
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on: March 28, 2018, 02:26:43 PM
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Don't throw your precious life away for such a small loss. As long as you can still work, you can easily make a living. Don't be too harsh on yourself. Try to reach out to people around you and get some counsel if available. Money is just a necessity for living. It's not worth to give up life for whatever big sum.
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47
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Economy / Speculation / Re: Bitcoin in 2018 will be at $50,000
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on: March 27, 2018, 10:10:01 AM
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It's a very bold prediction indeed and heart warming for hodlers. However, I don't think it's going to happen given the apparent difficulty in real adoption and the very negative views by major nations toward cryptos. It'll be lucky if BTC can hold above 10K.
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49
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Economy / Economics / Re: Do you think that bitcoin can reduce corruption?
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on: March 26, 2018, 09:42:37 AM
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it's impossible. Currencies are not the cause or sole means for corruption. People are ingenious when it comes to bribes, embezzlement, or any other illegal activity. Not possible to weed it out by simply using a crypto as currency.
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50
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Economy / Trading Discussion / Re: What is the risk of holding Bitcoin?
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on: March 26, 2018, 09:20:40 AM
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1. political risk: possible trading ban by governments which affect trade access 2. finance risk: banks cut off crypto-fiat links to make crypto related funding difficult 3. theft: if you don't learn how to safeguard your wallet, your btc or other cryptos couldn't be stolen. Possible to both private wallets and public exchanges. 4. very minimal risk from network disruption or attack dirfectly on BTC protocol.
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51
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Economy / Service Discussion / Re: Legitimate exchanges
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on: March 26, 2018, 03:13:08 AM
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The OP's list is a good one. Personally I don't like to trade on Bittrex any more after I found binance and kucoin because of its antique UI, lousy support and most hated high fees. Another good exchange I've been using is gate.io which provides good support and progressively lower fees than Bittrex and Cryptopia. It seems all China origin crypto exchanges are doing exceptionally well. A curious thing considering Chinese government's ban on crypto trading.
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54
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Economy / Economics / Impacts of economic downturn on cryptos
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on: March 23, 2018, 03:44:50 AM
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While some people are expecting monies will come into cryptos when stock markets tank, I see the opposite effect is also possible. The large investment funds actually are not scared of stock market downturn as they normally hedge their positions and among the first movers to sell. The fluctuation is actually helping them make more money. These funds won't pour money into cryptos during such times. Average investors, on another hand, will face the reality of shrinking net worth or even margin calls if they play leverage trades. I see little to no needs for them to switch to crypto assets too. After all, crypto assets are still at their infancy stage and don't generate revenue or profits directly. More hot money are seen in cryptos mostly when there's abundant liquidity in the money market. Now with rising interest rates, money influx will be dwindling along the way.
Hence, I'm not too optimistic about money inflow in the short to mid term. A long bear market or at least consolidation like in 2014 is a very possible scenario.
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56
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Economy / Speculation / Re: Death Cross
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on: March 23, 2018, 02:08:13 AM
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I'm not concerned. BTC prices always made surprise moves in the past seemingly to defy TA on purpose. It could be a good short term swing trade opportunity though. Will keep an eye on that.
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57
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Bitcoin / Bitcoin Discussion / Re: Snapchat Officially Confirmed the Ban of ICO Ads
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on: March 23, 2018, 02:01:05 AM
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In my opinion, all ICO ads should be banned. Without regulation, there's totally no guarantee or pressure on the teams if and how well they will complete the products. Once they get their hands on the easy monies poured in by ignorant peopled attracted by ads, there will be even less motivation for hard work. Now with all the ads banned, ICOs will really need to compete with each other to get funding. This will compel them to deliver more high quality products in the end. It's definitely positive for the crypto ecosystem in the long run.
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60
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Economy / Economics / Re: WILL BITCOIN BE USED BY ALMOST EVERYONE IN 2022?
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on: March 22, 2018, 05:22:40 AM
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It depends on the tech advancement of BTC protocol. At the current rate, BTC network alone is still too slow to handle mass adoption in payment sector. However, BTC as a unit of account can be the base of crypto payment systems directly powered by LTC or other coins with the ability of atomic swap with BTC. The crypto ecosystem in all can serve as a replacement of the existing financial tools like WIRE, SWIFT, Paypal, credit card, etc.
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