Bitcoin questions mega thread

Discussion in 'Bitcoin (BTC)' started by mandisa, Aug 11, 2018.

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  1. mandisa

    mandisa Contributor

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    What If Bitcoin is banned in your country will you still use it?

    If you use it how will you? How will you exchange it and how will you completely use it as you do before.
     
  2. Old Man Crypto

    Old Man Crypto Expert chainblocker

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    Retired, can’t remember from what.
    One step ahead
    I should ban bitcoin from my portfolio.

    Seriously though. This question floats all around the crypto sites. Bitcoin can’t be banned but countries can throw up ip blocks like China does. But there are probably ways around most countries’ attempts to block bitcoin. You’re just moving numbers on a network from one place to another. How can that really be effectively banned? Answer it can’t really.
     
  3. BitFit

    BitFit Contributor

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    A bitcoin band. Good idea. They could play music while the ship sinks.

    Would their notes be decentralized? Random noise rather than music. Would they play a bunch of notes that could only be heard as a song if you unlock it with a private 256 character private key?

    Ladies and gents, here at the request of your governments, we’re your bitcoin band.
     
    CryptoTC likes this.
  4. uzair

    uzair Contributor

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    Anytime i see some members of this forum asking "Is Bitcoin dead"?, or "Is this the fall of bitcoin" i just become speechless because it is so shocking to hear that within just six months when bitcoin improved the financial status of people last year without any hard sweating people have forgotten about it so soon. I now understand the saying that "Men forgets easily". Well i can't really blame them but I know the few Real Crypto Enthusiasts like myself still believe in BITCOIN and we are going to keep investing in it because we know that the its value will rise with time.
     
  5. CryptoTC

    CryptoTC Crypto Fat Cat
    Staff Member

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    Grooming myself between naps
    Sleeping on a couch, chair, bed, or under a table
    That’s how market cycles work. Last year clearly was a bubble. Attention dropped precipitously as prices fell. It isn’t dead, and it will cycle back to increased attention some time, but for now it has lost last year’s popularity.
     
  6. The CC Forums

    Staff Member

    Agree with @CryptoTC

    2017 was an anomaly. We’re hoping to see sustained organic growth in bitcoin interest from here.
     
  7. hinz

    hinz Contributor

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    Many news media has claimed that it has no intrinsic value.
    So, why it's price is so high?
     
  8. hinz

    hinz Contributor

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    Looks like April Fools’ day was a joke for the Bitcoin’s price. After a severe drop, testing the long-term descending line again, and getting back up, but I think it's still on a downtrend.
     
  9. hinz

    hinz Contributor

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    I've this idea:
    Before burning, everybody should be informed to move to their newly generated address all old addresses with bitcoins will be burnt and distributed to mining network by increasing their block reward.
     
  10. hinz

    hinz Contributor

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    Will China, India and other countries follow the same path?
     
  11. anyone

    anyone Contributor

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    In Argentina, Banco Masventas revealed that, starting next Monday, it will allow its customers to make cross-border payments using Bitcoin.

    In partnership with the Latin American market startup, Dicks, founded in 2014, this bank will use Bitcoin as a means of payment for cross-border transactions, as an alternative to the traditional Swift system.
     
  12. anyone

    anyone Contributor

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    Can we make a ton of money buy going short on bitcoin now? Profiting from bitcoins downtrend? Someone tried that already
     
  13. anyone

    anyone Contributor

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    Lets assume that starting in USA all bitcoin to fiat exchanges are banned. Will people be still interested in Bitcoins? I believe the applications of the blockchain are many, however, most people are attracted to Bitcoins because of its fiat value (or USD value). Deep under I believe that people are really not interested in the use of bitcoins in a decentralized platform/application but more interested in converting Bitcoins in to USD. Fiat currencies still seems to be the norm. Any ideas ??
     
  14. anyone

    anyone Contributor

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    I have used cheapair.com for all of my flight purchases for years. I live internationally, buy international tickets all the time. No problems with cheapair paying with bitcoins.

    I just bought a ticket for my girlfriend here in Thailand on kiwi.com because the only flights available on cheapair were $4k+ while the one I found on kiwi were $1500.

    I actually bought the ticket a few weeks ago but when I went to print it out for her visa I saw that they never booked the flight sending her e-mails about verifying my payment.

    I booked it again. I had to send them a copy of my passport, then a selfie. Then they e-mailed me with a phone number to call. I called the number and they verified more information, and now I have to wait for a third party service to get back to me to see if I'm ever so lucky to have the transaction go through.

    I hate when I go from bitcoin back into the stone age of legacy finance. Everyone needs to just catch up already.
     
  15. anyone

    anyone Contributor

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    I really think altcoins are a bubble just like dotcom bubble.
    You know dotcom bubble was the caused because people rushed to buy technology companies shares.but the problem was that most of these tech companies did not even have a product or even a plan to have a product.they were just in for the money they can grab.
    I believe altcoins are just like that.most of them are just fancy scams looking to get money.
    And when that bubble bursts bitcoin will be shaked but will stand its ground.
    dotcom bubble paved the way for real companies with a plan to grow.
    And there came Amazon,Google,Apple.
    Bitcoin will be very very valuable.
    Right or wrong I am seeing pre dotcom bubble Amazon in bitcoin. the price of a Amazon share was 108 dollars, after the burst it was 8 dollars.Look at what it had become.
    I know this is not a great comparison but this is my honest thoughts and belief in bitcoin.
     
  16. uzair

    uzair Contributor

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    #SATOSHI #NAKAMOTO designed the #BITCOIN #PROTOCOL to have a #BLOCK #MINED every 10 minutes.

    Since the last halving in 2016 we are getting 12.5 #BTC per block plus the fees that at today's rate its almost nothing.

    As an average considering the #PROFITABILITY, the #DIFFICULTY and the #HASHRATE every day 1800 Bitcoins are mined.

    If you have the #BIGGEST #MINER in the #WORLD with 5% of the #HASHING #POWER, he will get 5% of those 1800 meaning 90 Bitcoins per day.

    At this rate, he can get 2700 Bitcoins in a month or 32,400 Bitcoins in a year, in the last two years before the halving this hipotetical miner could get 64,800 Bitcoins.

    BUT, there is a BIG BUT, In order to get those coins, he had to pay for electricity and a lot .. I will discuss that on another post

    THIS IS WHY I DO NOT BELIEVE ON THOSE 500K BITCOINS #WALLETS, Unless they bought those coins several years ago then, its a HUGE MAYBE. But most of the time, they pretend to be a "Conglomerate" of Miners with #FRESH #COINS. NO WAY...
     
  17. hinz

    hinz Contributor

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    the big sharks are selling their positions for fear that the market continues to fall and that is causing the market to fall? What do you think?
     
  18. uzair

    uzair Contributor

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    People nowadays used to hold bitcoin instead than to circulate it, how may if affect in the stock or volume of the bitcoins?
     
  19. Rabia Abid

    Rabia Abid Contributor

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    It is one question that comes to the minds of people, who are not day traders, most often in one form or the other. Looking at the soaring value of a bitcoin people make and have made a 'general' investment in bitcoins. There are again others who invest for a particular purpose like their children's education or to buy a property for instance. But whenever the right opportunity comes and when they want to sell, they are hesitant. This may be out of greed that they may miss out on even greater profits.

    A long term investment is to meet the long term need of life. Throughout life there are needs. Even after the person dies, it appears there are needs hence insurance has become important. In such a scenario people do make investments for bright and secured future of themselves and their family. And this is necessary.

    When such an investment is made in bitcoins, there is a chance that bitcoins may in fact prove worthy of their expectations and soar to a value that the investor initially desired. At this juncture, the investor can sell the bitcoins and choose to fulfill his desire. But most times he is tempted not to sell looking at the growth of bitcoin.

    If selling the bitcoins he has invested for this purpose was the only way to fulfill his purpose, the investor of the present times seem to have been caught in confusion as to whether sell or hold.
     
  20. CryptoTC

    CryptoTC Crypto Fat Cat
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    Grooming myself between naps
    Sleeping on a couch, chair, bed, or under a table
    It isn’t an either/or scenario. A good plan should use something in the middle. Invest for long term but take out gains when either the market price targets are met or you have met personal saving goals.

    Investing isn’t all or none nor is it a short term bet. It is a lifetime long-term process.

    Or it should be if done right.
     

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