Meuh6879 (OP)
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March 10, 2017, 01:25:33 AM |
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cool and simple image.
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Even in the event that an attacker gains more than 50% of the network's
computational power, only transactions sent by the attacker could be
reversed or double-spent. The network would not be destroyed.
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uneng
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March 10, 2017, 01:29:50 AM |
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Full reasons to adopt bitcoin and left the old fiat. But we must say bitcoin isn't ready for a mass adoption yet. If a whole country starts using the crypto currency we won't be able to do all the transactions and it will be worthless like bolívar or any other currency like this. Theoretically bitcoin is perfect, but on the practice we are facing some issues very imminent to be solved.
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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cpfreeplz
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March 10, 2017, 01:33:00 AM |
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I don't get the last comparison lol. I can buy literally anything with a Canadian Dollar but I can't buy anything at all with bitcoins where I am. I can buy things online, but so can anyone in the world.
Lol kind of random but by the title I was expecting this to be a graphic post as in blood / gore hahaha.
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Meuh6879 (OP)
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March 10, 2017, 01:40:31 AM Last edit: March 10, 2017, 01:51:53 AM by Meuh6879 |
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you problem is a bitcoin payment card ... not the bitcoin. thinks must be paid with a plastic card ... for now. so, you have Xapo and others solutions to have a plastic car linked to bitcoins.
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bravehearth0319
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March 10, 2017, 01:56:07 AM |
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Full reasons to adopt bitcoin and left the old fiat. But we must say bitcoin isn't ready for a mass adoption yet. If a whole country starts using the crypto currency we won't be able to do all the transactions and it will be worthless like bolívar or any other currency like this. Theoretically bitcoin is perfect, but on the practice we are facing some issues very imminent to be solved.
When it comes to mass adoption, I agreed that not all country are yet ready for bitcoin, and bitcoin was not ready also for mass adoption to all countries. But honestly, for us being an enthusiast bitcoin is already a perfect.
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UDC
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https://UDC.world
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March 10, 2017, 01:57:07 AM |
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would be better if they were more truthful rather than simply "cool"
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Mometaskers
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March 10, 2017, 12:18:35 PM |
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I don't know the technicalities since I still use an online wallet but they better fix the transaction time and fees first before this would be adopted as currency by any country. Right now it's mostly a store of value because of the fluctuating prices and I see people complaining that they're not using their bitcoin because of the increased fee (has not affected me yet).
But yes, in theory it should eventually become a competitor for fiat when it comes to daily use. The only thing banks would be left with would probably loans.
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xuan87
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March 10, 2017, 01:01:05 PM |
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For now every I prefer to used and to invest in bitcoin rather than I invest in fiat, the one that makes bitcoin interesting is it doesn't had any inflation rate, not like fiat where almost every year the value of fiat keep falling down and bitcoin is better than fiat because it is a global currency so it makes us easier to send transaction all over the world, if there are more shop adopting bitcoin it will be perfect situation for bitcoin
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Global LED Adoption Through Blockchain Technology ≒≒≒≒≒≒≒≒≒『ICO IS LIVE』≒≒≒≒≒≒≒≒≒ | |
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davis196
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March 10, 2017, 01:03:21 PM |
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I don`t understand the thing about "changes are made with users consensus"? Nobody asked me about recent major bitcoin changes and nobody in the bitcoin community would care about my opinion. Perhaps the consensus about major changes is between the btc developers and miners and not between all bitcoin users. Anyway,bitcoin is a more democratic currency,compared to the central banks fiat dictatorship.
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Carlton Banks
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March 10, 2017, 01:04:45 PM |
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cool and simple image. I like #4, "argent sans frontiers"
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Vires in numeris
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Labumi
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March 10, 2017, 01:09:31 PM |
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ahahha, something that provides information that is best in my opinion. For all the superiority of bitcoin look clearly and also given an equivalent comparison with bitcoin. But until now I still doubt with the growth of the bitcoin, if we can't do something good then bitcoin can serve as a bad place (fedback negative). Because of the advantages in the large, and extremely bitcoin it could give a negative impact to those who do indeed compete with bitcoin
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SvenBomvolen
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March 10, 2017, 01:14:40 PM |
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Full reasons to adopt bitcoin and left the old fiat. But we must say bitcoin isn't ready for a mass adoption yet. If a whole country starts using the crypto currency we won't be able to do all the transactions and it will be worthless like bolívar or any other currency like this. Theoretically bitcoin is perfect, but on the practice we are facing some issues very imminent to be solved.
That'r very right words. I also thing that bitcoin is not ready to become international payment istrument yet. Yes, it's coming to mass adoption, but too many things waits for bitcoin before to become so really. I think this year is going to be the best year in bitcoin's hystory - it will appear many new places that will start to work with bitcoin directly and the necessary laws of government's control will appear. And all of this will move bitcoin much closer to the mass adoption.
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jtipt
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March 10, 2017, 01:24:48 PM |
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A better topic for this thread would be bitcoin vs fiat. Anyways, it's nice infographic to show someone whom you are persuading to get into bitcoins.
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BingoDog
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March 10, 2017, 01:32:29 PM |
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Full reasons to adopt bitcoin and left the old fiat. But we must say bitcoin isn't ready for a mass adoption yet. If a whole country starts using the crypto currency we won't be able to do all the transactions and it will be worthless like bolívar or any other currency like this. Theoretically bitcoin is perfect, but on the practice we are facing some issues very imminent to be solved.
That'r very right words. I also thing that bitcoin is not ready to become international payment istrument yet. Yes, it's coming to mass adoption, but too many things waits for bitcoin before to become so really. I think this year is going to be the best year in bitcoin's hystory - it will appear many new places that will start to work with bitcoin directly and the necessary laws of government's control will appear. And all of this will move bitcoin much closer to the mass adoption. I would say that bitcoin already is international currency because it's used all over the world but it can't be fully adopted and used as fiat money and I agree there are many reasons for that. And governments regulation is getting stronger so we will see what will that bring to us.
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malaj
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lottery248
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beware of your keys.
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March 10, 2017, 01:36:41 PM |
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but you know the supply is capped and not be edited even if with the favour of users! at least government can barely control the bitcoin.
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out of ability to use the signature, i want a new ban strike policy that will fade the strike after 90~120 days of the ban and not to be traced back, like google | email me for anything urgent, message will possibly not be instantly responded i am not really active for some reason
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SikatBray
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March 10, 2017, 01:41:04 PM |
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Nice image, ideal for newbies to understand Bitcoin as currency and how its different from ordinary ir fiat money!! Bitcoin provides anonymity to users thus enmarking holder as true owner!
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Kprawn
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March 10, 2017, 03:42:13 PM |
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I don't get the last comparison lol. I can buy literally anything with a Canadian Dollar but I can't buy anything at all with bitcoins where I am. I can buy things online, but so can anyone in the world.
Lol kind of random but by the title I was expecting this to be a graphic post as in blood / gore hahaha.
You are missing the point of the graphic ..... It makes a comparison between Bitcoin and his local currency. {Bolívar} Most of the points there are applicable to any government controlled currency, but more applicable to the Bolívar. The Venezuelan Bolívar is really taking a hammering and compared to Bitcoin it is very bad. Good Graph
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Idrisu
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March 10, 2017, 03:49:34 PM |
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Bitcoin better than fiat because with bitcoin you can use your currencies were ever you are but with your local currencies one is limited to his country. If a currency is decentralized, the control of that currencies is taken from the elites, government and individual. If you want to make bitcoin then work for it.
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rivoke
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March 10, 2017, 04:13:11 PM |
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When goverment can't control bitcoin, they become more aware for this currency and can't legalize it easily as they must bypass goverment policy Bitcoin better than fiat because with bitcoin you can use your currencies were ever you are but with your local currencies one is limited to his country. ....
Bitcoin just like currency plus it can be complement as investation as well so make sure that you save or spend it carefully as we know bitcoin value still high recently
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eternalgloom
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March 10, 2017, 05:52:58 PM |
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Too bad it isn't Creative Commons or public domain, the image could easily be adjusted or used for other currencies.
I think it does have greater impact now that it's specifically compares against the Bolivar, but it would be great if you could make duplicates with other fiat currencies.
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bravehearth0319
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March 16, 2017, 08:51:46 AM |
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you problem is a bitcoin payment card ... not the bitcoin. thinks must be paid with a plastic card ... for now. so, you have Xapo and others solutions to have a plastic car linked to bitcoins. This was a good example of illustration regarding that situation of the bitcoin users now and the non-bitcoin users outside of this industry. Very easy to understand and simple to get the catch of it. This is proven only where bitcoin now at the present are little by little adopting by the masses in the other places of the country.
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xypos
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March 16, 2017, 08:59:45 AM |
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cool and simple image. Great image. The fact is that bitcoin is not controlled by any single entity, its production is not controlled by anyone, the transactions confirmations are not controlled by anyone. All of that is done through competition through miners all across the globe, and mining companies that specialise in high tech equipment that provide them with the GH/s or even PH/s that they need for that competition. This means that the inflation rate is relatively controlled, and can be relied on because nobody controls it. The decentralised system sets its own pace of creating coins. Bitcoin should be a lot more relevant to Venezuelans as well, since their economy is in absolute crisis and the citizens are seeking somewhere where they can store their wealth in. Bitcoin seems like a great way to do that. Thanks for sharing.
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Slark
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March 16, 2017, 09:10:00 AM Last edit: March 17, 2017, 02:18:18 PM by Slark |
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This image op presented is really thought provoking and it is so amazing. But tell me if that is that is really the case with Bitcoin, then why we are now stuck with really bad, weak and detrimental fiat currency like Bolivar, and probably will be in the foreseeable future? We can praise bitcoin all we can, but the truth is we need to include it in current legal framework - we can't create new world order with BTC!
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Victorycoin
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March 16, 2017, 11:00:05 AM |
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Nice graphic comparison/illustration, but it's not great if you're looking current condition of bitcoin. Lots of unconfirmed transaction because small block size limit, FUD everyday, lots of scam attempt, company/people who wants to make bitcoin centralized and SegWit vs BU drama I seriously think it isn't best time to promote bitcoin since people would think they're fooled by those graphic comparison/frustration after they got hyped and found out current bitcoin condition. Success anywhere is never a smooth ride and we are witnessing the lots of Bitcoin and there are many of them, but like the infographic depicts, Bitcoin is laden with so much more potentials, it would be near impossible to allow it to rot or thrown into the garbage, especially as we are worse off with the debt-ridden and worthless fiat currencies.
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serjent05
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Cashback 15%
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March 16, 2017, 11:49:34 AM |
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Nice info and graphics there OP. This is the simplest form of describing what Bitcoin is about. It simply show the fiat currency and Bitcoin differences. And even a gradeschooler can understand and point out the difference with your graphic presentation. you problem is a bitcoin payment card ... not the bitcoin. thinks must be paid with a plastic card ... for now. so, you have Xapo and others solutions to have a plastic car linked to bitcoins. This was a good example of illustration regarding that situation of the bitcoin users now and the non-bitcoin users outside of this industry. Very easy to understand and simple to get the catch of it. This is proven only where bitcoin now at the present are little by little adopting by the masses in the other places of the country. Yeah it show how bitcoin works, and the advantage a user can have. No middleman!
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. .HUGE. | | | | | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . CASINO & SPORTSBOOK ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | |
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Taki
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March 16, 2017, 12:00:55 PM |
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you problem is a bitcoin payment card ... not the bitcoin. thinks must be paid with a plastic card ... for now. so, you have Xapo and others solutions to have a plastic car linked to bitcoins. This was a good example of illustration regarding that situation of the bitcoin users now and the non-bitcoin users outside of this industry. Very easy to understand and simple to get the catch of it. This is proven only where bitcoin now at the present are little by little adopting by the masses in the other places of the country. The picture is really great. But in today's world it's not like that really. Today there are not too many bitcoin users among all people population. So, cause of that there is no so many places that work with bitcoin directly. Today the schem looks like: you > bitcoin > PayPal/banks/WU/others < other side I mean today we mostly still need to cash out our bitcoins to pay for our costs.
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Zadicar
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Seabet.io | Crypto-Casino
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March 16, 2017, 12:05:33 PM |
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This image op presented is really thought provoking, but tell me if that is that is really the case with Bitcoin, and it is so amazing. Then why we are stuck with really bad, weak and detrimental fiat money like Bolivar, and probably will be in the foreseeable future? We can praise bitcoin all we can, but the truth is we need to include it in current legal framework - we can't create new world order with BTC!
This is absolutely right because no matter how we praise bitcoin compared to local fiat currency we cant make it to make people or government convinced to use it.This is the sad reality on bitcoin and i think we would really stuck on this situation on where bitcoin would remain on its place.
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Meuh6879 (OP)
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April 27, 2017, 03:55:37 PM |
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little UP for the peoples.
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webtricks
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April 27, 2017, 04:10:02 PM |
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little UP for the peoples. Oh, thank you. Nice graphics. Well, this image is coolest mean to drive curiosity in newcomers to Bitcoin. Someone new to Bitcoin will surely take a leap and fascinate about this commodity, Bitcoin!! However, it is not self-satisfactory to clear all questions about Bitcoin but still interesting enough to induce people to type "Bitcoin" in Google.
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lemonade09
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April 27, 2017, 04:19:11 PM |
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So bitcoin cannot control by the government in many ways the price of the bitcoin is still sky rocketing to 2000dollars and bitcoin is also a great threat in the government but bitcoin cannot use why the government dont allow it in there country but still the bitcoin is has a power to do a transaction in many countries.
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olushakes
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April 27, 2017, 04:55:54 PM |
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That pictural representation is simply the right way to go about it in a very simple and easy to understand format without necessarily understanding the technicalities that surround either bitcoin or the blockchain technology. But the issue there is that its definetely campaigning against the fiat which government will frown with because abandoning fiat, simply means abandoning government which no sane governments will allow unless its ready to face the outcome of such.
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Meuh6879 (OP)
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April 30, 2017, 08:05:18 PM |
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at the beginning, gov. control money : and it fail (Roma Empire) at the second level, gov. allow corporates to create money : and they fail (FIAT history) so now, money need to be restrain by mathematic rules : perhaps, a success (like P2P file sharing).
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U2
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April 30, 2017, 09:03:42 PM |
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at the beginning, gov. control money : and it fail (Roma Empire) at the second level, gov. allow corporates to create money : and they fail (FIAT history) so now, money need to be restrain by mathematic rules : perhaps, a success (like P2P file sharing). It seems so logical like someone should have come up with it when the internet came out. It's kind of surprising you or I didn't come up with this idea. Not that I ever would have been able to implement it myself though. Could you.. Satoshi!?
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J9901
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April 30, 2017, 10:49:27 PM |
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Bitcoin is a decentralized currency and no government can control it and that is the reason they are not making any statement about bitcoins as they are well aware that if bitcoin gets on the mainstream then they will loose all their control that they have on fiat money at a moment.
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Meowth05
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★777Coin.com★ Fun BTC Casino!
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May 01, 2017, 07:09:14 AM |
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The government is the one who will decide if the bitcoin will be allowed in there country or not or they will allow the risk and opportunities it will give in there country but the bitcoin it still have a specialities in many ways and when it come in money.
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Meuh6879 (OP)
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July 23, 2017, 02:31:32 PM |
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layoutph
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July 23, 2017, 02:36:49 PM |
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Hehe. Nice infographics design dude. Same with others I thought this post is about blood, killings due to Bitcoin or whatever. May I know what is Bolivar? Is this a fiat or another crypto coin?
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StarenseN
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July 24, 2017, 05:22:43 PM |
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This thread does not raise the right reasons and issues. The problem at the source, the root cause of this devaluation is not necessarily fiat money but is a political problem. Venezuela is a very few still existing socialist / communist economy and refutes the market economy (which would solve a lot of issues... Venezuela is one of the largest petrol reserve of the planet (!)). What is lacking in Venezuela is an openness to the world and a market economy (bitcoin is a only a slight solution to the social politic). It would be nice that the thread instead of worrying about an effect (devaluation, hyperinflation) is interested in the cause of this problem: communism and why it is so bad.
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andrei56
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July 24, 2017, 06:34:52 PM Last edit: July 27, 2017, 02:09:30 AM by andrei56 |
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I don't get the last comparison lol. I can buy literally anything with a Canadian Dollar but I can't buy anything at all with bitcoins where I am. I can buy things online, but so can anyone in the world.
Lol kind of random but by the title I was expecting this to be a graphic post as in blood / gore hahaha.
The op did not made the comparison of fiat vs bitcoin it was bitcoin vs the bolivar, the currency of Venezuela, and in Venezuela things are in a bad shape there are many products that are very scarce in the country and there is a black market for everyday products so I think that is what he is referring.
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Meuh6879 (OP)
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July 24, 2017, 07:37:58 PM |
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the problem to trade oil, for example, is directly linked to the availability of the real dollar market (ie. banks channels like swift). but, now, they can sell oil for bitcoins. and then, bitcoins can provide trade in the country for others assets like food, hospital, and ... store of value.
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User365
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physics, mathematics and engineering
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July 24, 2017, 07:50:02 PM |
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Thank you for this awesome graphic, I sometimes explain bitcoin in detail to people who are really interesed and I will keep this graphic in case someone wants such an explanation in future. But fiat would be a better name instead of government
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[could be your ad]
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StarenseN
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July 24, 2017, 07:59:13 PM |
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the problem to trade oil, for example, is directly linked to the availability of the real dollar market (ie. banks channels like swift). but, now, they can sell oil for bitcoins. and then, bitcoins can provide trade in the country for others assets like food, hospital, and ... store of value. You compare dollar and bolivar which is non-sense as I told, problem is not fiat, but the lack of market economy (capitalism) which indeniably thrive the progress and prosperity.
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andrei56
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July 27, 2017, 02:12:17 AM |
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at the beginning, gov. control money : and it fail (Roma Empire) at the second level, gov. allow corporates to create money : and they fail (FIAT history) so now, money need to be restrain by mathematic rules : perhaps, a success (like P2P file sharing). It seems so logical like someone should have come up with it when the internet came out. It's kind of surprising you or I didn't come up with this idea. Not that I ever would have been able to implement it myself though. Could you.. Satoshi!? In fact people have been looking for something like bitcoin since the internet was created, but there were many issues, one of those was double spend and it was not until satoshi created the blockchain that everything came together so bitcoin was created as soon as it was technologically possible.
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Meuh6879 (OP)
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August 02, 2017, 06:00:56 PM |
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cool and simple image. Round 2 : http://www.zerohedge.com/news/2017-08-02/venezuela-bolivar-loses-third-its-value-past-week the exponential rise in M2, the sum of cash, together with checking, savings, and other deposits, also means an exponential rise in the amount of currency circulating. As a result, Venezuela's money supply is up 384% in the last year. In contrast, the United States' money supply is up 5.5% in the same period.
This means that Venezuelans are forced to carry huge bundles of cash to make basic purchases, if they can afford to do so given weekly price rises on many goods of course.
This means hyperinflation. The venezuela is the 28st country in the world with M2 stock money (before 2017) : https://www.cia.gov/library/publications/the-world-factbook/rankorder/2215rank.htmlBitcoin is the 69st = https://bitcointalk.org/index.php?topic=178336.msg20567883#msg20567883
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CS101
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August 02, 2017, 06:58:20 PM |
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Not really accurate, but sparkles an interesting discussion.
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Shamie1002
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August 03, 2017, 05:43:16 AM |
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Full reasons to adopt bitcoin and left the old fiat. But we must say bitcoin isn't ready for a mass adoption yet. If a whole country starts using the crypto currency we won't be able to do all the transactions and it will be worthless like bolívar or any other currency like this. Theoretically bitcoin is perfect, but on the practice we are facing some issues very imminent to be solved.
I agree, massive population in Bitcoin is hard to manage. For instance, our managers here takes time to dissemenate our rates how much more for the coming years. And I think security will be more at risk when adoptation continous.
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senin
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August 03, 2017, 09:12:56 PM |
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I don't know the technicalities since I still use an online wallet but they better fix the transaction time and fees first before this would be adopted as currency by any country. Right now it's mostly a store of value because of the fluctuating prices and I see people complaining that they're not using their bitcoin because of the increased fee (has not affected me yet).
But yes, in theory it should eventually become a competitor for fiat when it comes to daily use. The only thing banks would be left with would probably loans.
Bitcoin can not in practice be used for daily small purchases. It will not be profitable. And banks will find work not only for lending. Part of the transactions will always be made in ordinary currency for various reasons. Yes, and settlements with the state on the payment of taxes will also be made in the national currency and therefore, customers of banks will be forced to have on their account a national currency. Therefore, banks will give services for the purchase and sale of crypto currency for a decent commission. Therefore, for banks, there is always work
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Meuh6879 (OP)
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August 04, 2017, 06:15:00 PM |
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Round 3 : http://www.zerohedge.com/news/2017-08-04/venezuela-currency-disintegrates-down-16-todayInflation of a "currency" (of a country) VS. the Bitcoin value and functionalities. "Every time the black dollar goes up, you're poorer," resignedly said Juan Zabala, an executive in a reinsurance business in Caracas.
His salary is 800,000 bolivares per month.
On Thursday, that was worth $47 at the parallel rate. A year ago, it was $200.
The inexorable dive of the money was one of the most-discussed signs of the "uncertainty" created by the appointment of the Constituent Assembly, which starts work Friday. And this : https://www.coinhills.com/market/xbt-bsf/Result : don't trust your currency or your bank or your country, only trust Bitcoin network rules.
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ivrynx
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August 05, 2017, 08:33:33 AM |
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Goverments should be allowing cryptocurrency in their country since it is a good advancement of technology, it will help their country grow economically, though without taxation, many can xreate businesses and make their lives easy and for sure they will create something that will help their countrymen, governments should also give lessons or seminars that will encourage their citizens to become businessmen in order to create jobs.
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kuyaJ
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August 05, 2017, 09:44:45 AM |
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It is more advantage from bitcoin to fiat it contains less hustle from doing a fiat. How about the poor once if bitcoin will be our daily expenses? How they can pay if they didnt have an phone or computer that they use for buy?.
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nonconformist
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August 05, 2017, 09:50:30 AM |
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this is a very good graphic
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xypos
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August 05, 2017, 09:56:31 AM |
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Round 3 : http://www.zerohedge.com/news/2017-08-04/venezuela-currency-disintegrates-down-16-todayInflation of a "currency" (of a country) VS. the Bitcoin value and functionalities. "Every time the black dollar goes up, you're poorer," resignedly said Juan Zabala, an executive in a reinsurance business in Caracas.
His salary is 800,000 bolivares per month.
On Thursday, that was worth $47 at the parallel rate. A year ago, it was $200.
The inexorable dive of the money was one of the most-discussed signs of the "uncertainty" created by the appointment of the Constituent Assembly, which starts work Friday. And this : https://www.coinhills.com/market/xbt-bsf/Result : don't trust your currency or your bank or your country, only trust Bitcoin network rules.I love your graphs and infographics, man. I believe that Venezuela is the ultimate economic disaster in the 21st century after Zimbabwe. But on the other hand i sort of embrace the Venezuelan economic crisis because it truly shows how dangerous it is to have a central entity having the power of issuing money insetad of the money being generated in a decentralized way. It seems odd to me that a lot of people get comfortable with fiat currency just because it is going strong at the moment. They don't hedge against a fiat collapse with bitcoin, silver, gold, anything. All they do is blindly put their savings in a fiat currency and leave it in a bank, only for it to depreciate in alue like hell. Venezuelans right now are learning a valuable lesson. And it's not surprising to me that a lot of people are actually switching to selling their Venezuelan bolivars for bitcoin as soon as they get their pay.
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SvenBomvolen
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August 05, 2017, 10:23:03 AM |
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Goverments should be allowing cryptocurrency in their country since it is a good advancement of technology, it will help their country grow economically, though without taxation, many can xreate businesses and make their lives easy and for sure they will create something that will help their countrymen, governments should also give lessons or seminars that will encourage their citizens to become businessmen in order to create jobs.
You just called all the positive sides of crypto-currencies use. But you forgot about negative sides. it is not a secret that Bitcoin is used for buying drugs, terroristic support and corruption. Everything because of hidden identity of users. So all governments are staying infront of the choice now. Bitcoin is not forbidden in many countries yet, but I suppose if it will became clear that some old and new terracts will be financed through this crypto-currency, I think the dark days will come to bitcoin.
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senin
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August 05, 2017, 06:34:24 PM |
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Bitcoin, like the other crypto currency, will always conflict with governments in some ways, because bitcoin is decentralized and anonymous by its nature. This will always be disliked by governments that are used to command and control everything. The way to rub and seek consensus will be long. However, technical progress can not be stopped. The Internet was also at first disliked by some authoritarian governments because of the unrestricted dissemination of information, but this is already in the past. Therefore, the crypto currency will win.
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Theb
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August 05, 2017, 06:40:02 PM |
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Here is another classic example of comparing a cryptocurrency and a fiat currency. Obviously Fiat currency is controlled by the government to make it more stable and in fact inflation is not a bad thing it signifies demand for the supply. Also if we don't have a stable inflation rate our economy will have a bad transition because of it. I don't know but we can look both ways for Bitcoin and Fiat currency but we all know their own strenghts and weaknesses.
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Meuh6879 (OP)
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August 24, 2017, 11:17:21 AM |
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cool and simple image. Round 4 : Bitcoin save my Life. http://www.zerohedge.com/news/2017-08-23/bitcoin-saved-my-lifeSo he buys bitcoins and sells them to a friend in Colombia - who won’t accept bolivars. The friend then buys cancer treatment and medical supplies for Eli.
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Jombrangs
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December 17, 2017, 08:46:18 AM |
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In my own opinion, the government of different countries has a great relationship from the company of bitcoin. The government will promote the services of bitcoin to the public which leads to a high demand while Bitcoin can help the government to establish a well-civilized country wherein the there will centralize and systematic process in all aspect.
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Blockfolioz
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December 17, 2017, 08:49:13 AM |
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There are countries that have promoted bitcoin as well given importance to the regular fiat. Same time there are more countries that have banned bitcoin as well some has made legal with restrictions. Around the world different forms of acceptance is found and hope in future everywhere acceptance will be found.
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icanscript
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December 17, 2017, 09:50:38 AM |
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The conflict of the credit and financial system of all crypto-currency system is unavoidable. The state and officials will be on the side of the co-operative financial system. The results of the conflict, we will see in the near future.
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jokowi
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December 17, 2017, 09:53:54 AM |
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In my own opinion, the government of different countries has a great relationship from the company of bitcoin. The government will promote the services of bitcoin to the public which leads to a high demand while Bitcoin can help the government to establish a well-civilized country wherein the there will centralize and systematic process in all aspect.
I do not think bitcoin can influence the politics of the nations of the world, or say otherwise, it can not help to establish civilized nations. But above all, it represents a completely new, secure and secure technology. And it is what humanity is aiming for.
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SHAWN-MIDWAYS
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December 17, 2017, 09:58:30 AM |
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The character in the the bottom right corner does not make much sense though--"you are forced to consume the little they offer" someone explain this.
Nice graphic work by the way, this can be used to help people easily understand what bitcoin really is all about and not the misconception of illegal doings.
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snipetr
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December 17, 2017, 10:31:38 AM |
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cool and simple image. Pefect comparison between bitcoin and fiat currency. Yes bitcoin has many benefits over fiat currency but still it has some problems to regulate in common use. Only 21 millions of bitcoin can be mined, also mining costs are much high and hence the transaction fees going much high. Also security concerns due to hacking of wallets. Again not having physical appearance is another problem for bitcoin to be future currency.
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mabell943
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December 25, 2017, 07:59:30 PM |
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The government itself gives the bitcoin a authority to operate and recognize by the state as a legal entity and has a capacity to deal with investors. I think the government support the cryptocurrency somehiw since this business entity generates income and collected taxes which will remitted to them; In this way the government earn revenues to support government projects and expenditures
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harbin55
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January 09, 2018, 04:39:39 PM |
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Actually there is a wrong misunderstanding about this issue. They always make contradiction between the government and bitcoin which is not true. The company of bitcoin and the government has a good relationship between each other since there is a win-win situation happening to them once the market value of bitcoin is rising up. The government will collect lots of tax while bitcoin can dominate in the whole world.
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Danglen1010
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January 12, 2018, 07:12:30 PM |
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It depends upon the government if they don't want the bitcoin trading system. There is no reason that I see for the government to be anti the bitcoin trading system. It do not pay taxes but it gives a big benefit to the government through the income that comes from the different part b of b the world.
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BlasterS
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January 26, 2018, 02:26:28 PM |
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The government itself support bitcoin in all various transaction which is a good thing in some countries all over the world. Bitcoin and government has a good relationship at all.
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BlasterS
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January 26, 2018, 06:35:06 PM |
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Government is still afraid in bitcoin because the bitcoin can kill the currency of one's nations that's why the government start to war against bitcoin and they planning to ban it in their country, they want bitcoin to post pay taxes on them because they don't earn money in bitcoin. Government will still fight it until the bitcoin end but it is a head fight for a government.
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Andrew1337
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January 26, 2018, 06:37:58 PM |
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Government is still afraid in bitcoin because the bitcoin can kill the currency of one's nations that's why the government start to war against bitcoin and they planning to ban it in their country, they want bitcoin to post pay taxes on them because they don't earn money in bitcoin. Government will still fight it until the bitcoin end but it is a head fight for a government.
I totally agree your opinion as you can see in this whole time bitcoin went up and down but the main it was only UP ; even if government will announce public that bitcoin is a bubble or a scam the bitcoin will be temporary affected not permanently ! . If something goes bad or good bitcoin has only way to go UP!!!!!
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Inggridpratiwi
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January 27, 2018, 08:46:56 AM |
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it would be better if they are more honest than just "cool"
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