As the title implies, we all know that, almost the whole world knows about the existence of bitcoin and cryptocurrency, the problem is although more and more people are becoming aware of it, there're still barriers preventing them on using crypto.
Do you think that's true? Well, half of the people in the world don't even have access to the Internet, and even if they heard about Bitcoin, how should they use it if they don't have the basics for it? The barriers you are talking about are primarily infrastructural, although of course there are also those mental barriers for most people who understand economics and finance only to the extent that they know what a bank card and a 4-digit PIN are for. "What does BTCitcoin needed in order to become a mainstream payment system? "
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I know some of you would say improvements of Security, Scalability, and User Experience, but aside from that, What is the most needed for BTCitcoin right now?
Forget any mainstream payment method in the sense that you will be able to pay with Bitcoin in every store and for every service, because that will probably never be achievable, especially in countries that strictly control their financial system, and besides, they are among the most populous countries in the world. Bitcoin will always be an alternative, and by no means some kind of coercion that should be imposed by any state or individual. You mean half of the world doesn't have proper access to internet? It's true that there're people who chose to rely on the traditional system we already have and it is also their choice to believe or use what they want as long as it benefits them. I do get your point coz personally the main reason for me why it's never unachievable is because of its volatility. That reason alone is enough for people to be hesitant/against on using or implementing it as a mainstream payment system. forget making it a mainstream payment method, the internet access alone is already a huge problem. aside from internet problems, people also needs to be educated about cryptocurrency, and if there is no sufficient internet making them aware and teaching them about crypto will be a huge challenge. the country which I lived in is one example amongst so many 3rd world countries that are suffering from internet problems. i could say that we have a decent amount of internet in different regions to access social medias and other stuffs, but do you think that's enough?.. no it's not. you should also be aware that crypto relies mostly on modern technologies, and as the technology keeps improving, do you think those countries can keep up? let's just say they could but it'll all end up that those who can invest or use crypto are only those who can afford. |
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i am not quiet so sure about this but i've heard some of my friends say that there are already banks accepting crypto or bitcoin to be exact, and i've also heard that there are several establishments and corpprations that are in partnership with cryptocurrencies, but honestly even one of them i had never tried.
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there are lots of circumstances why people choose to sell their coins below ico prices, but mostly people that gets a rewards coming from bounty sell immediately by their own reasons and as obvious is to earn money. here we cannot avoid people that are only here because of money, that is the reality involved once there is money also involve.
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The minning tools it self is very expensive and the infrastructures that must be prepared also expensive. I give up with bitcoin minning at this time, now I more focus on masternode coin like CAZ and etc. I heard that mine altcoin like ETH or etc is more profitable.
indeed it is really costy and if you don't have enough money to support or sustain that business you cannot really keep on going. that also depends if you have your resources available already for work so you can use that up and try to make money for it. |
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I believe there’s always the desire to get a stable source of income after retirement and this may be realised through setting up businesses with money earned from crypto. You will need to further manage these businesses well so I think the money may not be from’ passive’ source.
I think investing in crypto and having a business in the real world may be a perfect combination to earn a passive income in the next five years.Yes i still believe in the power of bitcoin though many people have their doubts on it.It's just matter of taking some risks and building your own faith on it. i agree with you. Though there are still lots of risks you have to consider before making this type of investment, i would support your idea of building faith towards your investment since that is your only choice if you want earn the next five years, and aside from that nobody really knows what will it be until then. |
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I think it using blockchain is cannabis industry will help to make it more transparent so cannabis coins must have future. Not all of them) But of course it is needed in a few more countries with legalize. I hope the time will change and this number will grow. For example Canada legalized MJ couple of weeks ago. So it is possible for some other countries to join this politics. I think it is good for all people when government understand that if they can't overcome it, they need to lead it! This statement relates not only to weed, but to the hole crypto industry.
I'm a bit sceptical about this idea, as cannabis is illegal in most countries, so weed is relatable to crime, drugs, etc. It makes cannabis alts less popular, I guess. I wouldn't invest in it. Yeah it's illegal but wouldn't you say it probably won't be that way for much longer? If anything to me this seems like the best time to invest in it. Obviously i'm not talking hundreds of thousands of euros, but a few hundreds here and there i think are worth it. i have heard a certain alt coin before that is all about cannabis, i don't really know if it does exist up until now, since i also share the same idea with you that because of its current standing as illegal it makes itless popular that is also the reason why it is not very known among traders, but to tell it honestly crime related drugs is really irrelevant whenwe talk about cannabis, there are also huge differences among cannabis users and those otherpetty drugs. |
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The panic sellers could just totally ignore those articles and comments spreading online that are bashing crypto-currencies in general, and if everyone is determine and strong enough to hold on to their crypto-currencies when a panic selling occurs in the trading market, I believe it will reduce the amount of time for the whole crypto-currencies trading market to recover to its previous high.
i totally agree with you. it has been said and been proved that one of the factors affecting market price and panic sellings are due to spreading news and any other news that are related to crypto industry. we cannot avoid that one, since there are plenty of traders who ar3 still affected by those spreading news everywhere. |
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Commercial banks, as we have seen, have absolute control over your accounts. They can suspend transactions, freeze accounts, do all that. We've even seen them do this to crypto related transactions, and say that they don't accept these transactions altogether. I'm with you on this. It is hard to overestimate the significance of being financially independent, I mean, truly, indisputably independent. Before crypto, if you didn't belong to the elites, they could easily make your life miserable by stealing your financial freedom, and ultimately just freedom. This is no longer the case. Indeed, there are other aspects of personal life that governments still have a full control over. But crypto has shown us all that the government diktat is not absolute, and it can be effectively evaded. Now you can hide your wealth, and if things go terribly awry for you personally for whatever reason, you can run and settle anywhere you like. Your coins will be with you. Yeah bro, it is really hard. The thing here is it was meant to be like this until the banks and government decided to just take hold and control of everything, and making us be the ones to suffer for their bullshit manipulations and policies. Decentralization has given us the opportunity to make transactions between whoever we want to make transactions with without the banks being on our neck all the time, or giving some policies to limit how we live our life or spend our money. the problem with centralized policies is that, simple violation could lead you to a worse outcome, just like what yoh have said about freezing your accounts. the advantage of having decentralized policy is the opposite of centralized system, it is also labeled as financial freedom, that is why few people tend to abuse it. |
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Although Bitcoin is a decentralized technology, it is not immune to the reach of governments. Assets need authorization to be traded and due to this situation, regulations will emerge in several countries.
Questionable assets needs government to intervene I guess, that's why bitcoin needs approval from the government, the problem with that the essence of decentralization has been stake, good thing is the actual system can go further without any changes, we do need to exchange our crypto to fiat so that's where the government will be concerned and will place every rules that will give them authority to question each profits or actual money that their people are gaining upon using this chain. yes it is. Aside from that ir cannot be also used locally when there is no proper approval to it, and the worst case is that you will be considered as illegal, aside also from the risks and for being decentralized. personally i don't really think that it needs approval since it is decentralized, from that point further reasons will only be owed by the government i guess. |
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Diversify Investments is a very important thing, never put money on one or two types of investments because we never know with the future of the coin, this certainly makes us have to be vigilant and do not depend on a little coin.
as much as possible youneed to gather more informations regarding the market, and you shouldn't depend on someone's opinion when it comes to how many coins you are going to invest or what are the coins you are going to put your money into. you should also observe here, and as you can notice that lots of them has their own perspective and their own suggestion to what are their top picks for investment, then you try to research about those suggestions and make your own tentative analysis. |
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What would happen if the Chinese Govt took the mining over from the entities
Who you think that could own the mining farms in China? Private investors? I'm sure that all of them are owned directly or indirectly by the government members or their friends. You cannot do that without political backup. Not at that scale. Also just think, many are made near dams for cheap or free power. How else would that be possible? So what will happen? Nothing! Because they know that if they do any wrong movement (51% attack for example) they actually hurt their own investment. they are really intelligent when it comes to handling financial aspects. they are maybe just announcing their total banning figure to cover up those what they are actually up to or should we say what they are already doing right now. i guess for them it is really possible, it might also be rude to say but we knew that most gamblers are formerly chinese and they are also know for that. they are maybe preparing so that when the train runs, they wont be left behind. |
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It is your decision to sell your bitcoin to invest in ICO. You have to make sure that the ICO is legit and will be able to succeed in the market and get listed in an exchange otherwise your effort would have been wasted. Most of the ICO has been labelled as scam.
maybe it is true that a portion of bitcoins fall is due to dumping their bitcoin in exchange of investing in ICO, but only a portion of it. i don't think that would lead to big impact in the market's price, besides ICOs are already existing since then, and it doesn't really affect that much before. |
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there are some coins that have prices fall below ICO but a few months or years will have prices going up again and I think it depends on the development of the coin whether it has a good project and how the work of the developers to develop the coin
i certainly agree with you. there are also lots of factors that can trigger the price to go up, such as what you have said. it could also because of the hardwork of the team behind, and further developments. it could also because of some new investors and whales playing the market. Lots of it has a point and it is always that the market is unpredictable. |
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No doubt in your saying that no one can quit gambling instantly for good. He can’t quit it even if he wants to quit that’s why call it as an addiction. With strong willpower and determination to redeem one's own self an addicted gambler can even quit gambling in a few days. Of course the iron will has to be there and the hatred towards gambling needs to be present. It’s like the same that someone inhales oxygen while he wants to quit inhaling Oxygen because if he will do this, he would be soon dead. Oxygen is essential for life. On the other hand gambling is an addiction or in other words oxygen is a necessity while gambling is an indulgence. Hence this is a poor comparison. Gambling has a proper method with which it can be easily cured. Gambling is not a disease. It is an addiction. Calling it a disease is an oversimplification of facts. it is just funny how you reacted and quoted thise texts. I guess i have to agree, since disciplining yourself from gambling is hard to do i guess(although i am not really one), but comparing it to some other things that could cause addiction it seems for me that it is hard. Whether winning or losing makes it more addicting. As an example if you win big time, you will though you won easily and needs to win more, if you lose big time you will try to get back all your losses of course, in the end it is a matter of greed. |
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-snip-
Basically when you panic sell during a bloodbath, you sell your coins to the whales, who are more than happy to collect more of them at cheap price.
I have noticed this kind of person and he is one of my friends, lately, he sold out his all coins when the market starting a bloodbath. Maybe one of these days he realized that he has a wrong decision. Who says that the market can't manipulate by the whales? I think they have the power to do that by paying those media broadcasters to keep spreading a FUD news that gives a negative image to the bitcoin or all crypto. Small bitcoin holders easily panic selling that's the time the whale had a big laugh because they bought at the lowered price they know that after a month the price will back to a normal price. I think the main lever for manipulating the price is not spreading a FUD news because only regular users(not whales) can be affected by that. And when regular users start selling, this actually has almost no impact on the market and thus can't ignite massive panic selling. What the whales do is they start selling themselves. Only when the whales are selling the price falling is becoming noticeable and only after that the massive panic selling starts. it seems to be clear now how it happens. honestly before i have no idea how did this whales manipulate market and how does FUDs affect the market, besides it cannot be trigger that easily because as we all know that whales are mostly veterans and not just easily panicked by some FUDs coming out from nowhere. |
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first of all you must know it is you responsibility that you are in debt, second is that you need to discipline yourself to be more wise when spending, 2rd and most important you must divide your funds accordingly, and little by little pay your debt, because of you will just ignore that you will someday wake up drowned by your own debt, or if you will try to run, you are no different of a thief.
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My friend in Canada told me that bitcoin payment has been used in KFC. What does that mean?
Can you put any links to articles or news so we can check that out? I am not from Canada but it is a good news if that happens since more people will be able to use and know Bitcoin and other digital currencies. My friends are there in Canada and I can let them check KFC and use Bitcoin and tell me their experience on using it. Done some searching and it is really correct. Here is the link I've found, as of January, this article is posted on the internet. The article also stated that in the near future KFC might accept other crypto currencies too, that will be great. Here is the link though : https://www.coindesk.com/kfc-canada-is-accepting-bitcoin-for-fried-chicken/wow. just wow! i am amazed that they are already starting to adopt cryptocurrency. To think that it is one of the biggest companies around the world, although that announcement was available only for a certain country, but still it is a good news for us all. since it is not always that big names and companies will adopt crypto at this rate. |
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99 percent of the technical analysis didn’t see this dump coming!
Yes that is true that i have not seen a lot of analysis regarding this dump. There were actually many posts regarding a pump in summers . This proves that crypto cannot be predicted . What you think about it is not always what happens . I do not firmly believe in the technical analysis because honestly it just depends on daily dumps . For the ones who are there in the world of the crypto currencies especially the traders, this technical analysis is the most important thing to do as this is something which then helps them in having some fair idea of the market value of any of the crypto coins especially the ones which they have in their wallet and that based on which, the investors can then make some better strategy to deal the situation efficiently. yes i highly agree wirh you. It doesn't also imply that you have to depend on someone's technical analysis, but instead you can gather informations from those who are showing how to analyze the market and then make your own analysis. In short you have to learn from them and make your own deduction. |
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If i will be given a chance to do a project with cryptocurrency then i will be making an all in one digital wallet for all crypto that includes bitcoin and all altcoins using same wallet address. I have seen too many digital wallet from known digital wallet for ERC20 tokens and for bitcoin digital wallet but i never saw a digital wallet that will cater all the digital currency either bitcoin or altcoins. If i have only the capacity to do it like having a good team developer and a financer then i guess i could make a revolutionary digital wallet.
there is a wallet that already have all this features you just mentioned maybe you have seen or heard of it. its called coinomi its available of android and IOS, you can download it and see for your self. Is Coinomi available for computer? It would be inconvenient if you could only use your cell phone to hold all your money. Computer operations are easier. coinomi wallet is for mobile only,,, threat service of coinomi you can add signature address evry coin address. No Token for coinomi all listed are coin it means independent blockchain. ahh thanks for the information my friend. so dies that mean you can only trade from your mobile phone? I am still curious if it will hang up besides it can only be traded by your mobile phone, becase some mobile phones cannot support some heavy applications. |
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Very likely, especially now that direct transactions using paper money continues to decrease, paper money becomes a crime factor that is robbery, if there is no paper money of course can reduce the robbery in banks or to people so I am sure that no more than 100 years paper money will disappear.
This might be a bit long. this great revolution certainly needs preparation and not necessarily all countries of the world agree that the transaction is changed to be electronic or online i certainly believe you have a point my friend, since changing ones currency and it is most likely called mass adoption of electronic payments and other online transactions, i guess there might be a conflict as for example i don't think the banks and government will agree directly about that idea and proposal. |
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