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Now China has completely shut down its encryption platform! What other platforms can be used in China? I googled a few times and couldn’t use it
Good afternoon and happy Friday :]
This is a summarized discussion post of an original article done by one of our writers.... I would like to share it here because this community is more open about the discussion of btc and crypto in genral.
Some fun stats going into 2022
By 2022, worldwide spending on blockchain solutions will reach $11.7 billion.
The global blockchain technology market is estimated to accumulate $20 billion in revenue by 2024.
The number of registered blockchain wallets in the second quarter of 2021 was more than 70 million.
Blockchain can reduce 30% of banks’ infrastructure costs.
Financial companies can save up to $12 billion a year from using blockchain.
Total spending on integrating blockchain into healthcare will rise to $5.61 billion by 2025.
The FBI owns 1.5% of the world’s total bitcoins.
55% of healthcare applications will have adopted blockchain for commercial deployment by 2025.
60% of CIOs were on the verge of integrating blockchain into their infrastructure by the end of 2020.
A few highlights of revolving around Crypto going into new year.
NFts are not just for art....
" NFTs in gaming is a natural that is taking off. The game Axie Infinity allows players to "mint" their own NFT creatures to send into battle. Nike and Dolce & Gabbana offer clothing and footwear that come with their own NFTs. The metaverse that has recently become part of the general publics' vernacular with Facebook’s "
National Acceptance of Crypto....
El Salvador became the first nation to accept BTC as legal tender in summer of 2021. While the UK Britcoin is unlikely to launch during 2022, other countries, including China, Singapore, and Tunisia have already dipped a toe in the water, Japan, Russia, Sweden, and Estonia are said to be right behind them.
The "greening" of blockchain......
Ethereum has plans to move to a POS model during 2022. Cathie Wood, Founder and CEO of Ark Invest, believes it will help lead the way to cleaner energy. The thought process is that growing demand for energy will lead to greater investments in renewable energy alternatives; this would then be used for other applications in addition to blockchains.
Please post some of the other massive ideas/concepts that have emerged out of crypto in 2021 that will be expanded on in future years. I did not mention smart contracts but they are in the og article.
Hi, there is something that has long caught my attention about the BCH Register configuration options. Apart from being able to configure the PoS with an address or an extended public key it says that API keys and pairing codes can be used, but I don't know how to do it or which platforms generate API keys that are compatible or readable by the application.
I am a non-technical user who investigates and asks a lot anyway because I usually make tutorials and answer questions from other users in the BCH hispanic community.
Could someone help me understand?
Fed Governor Waller said that speeding up the debt reduction process will give the Fed room for interest rate policy so that we can raise interest rates as early as the second quarter of 2022. Bitcoin is "basically electronic gold."
Hi guys. Looking for the best and easiest way to sell some btc I accumulated on this site. I registered there out of fun and lately found out that it actually gained some value, but the point is, I don't know how and where to sell it. XD Could you please help me? Thanks
In short: Wono.io is a freelance exchange that's implementing its token soon. It's a fast growing community of freelancers and employers that already has 518,000+ users registered on the platform. The token will be used to pay for the platform services. Of course, freelancers and investors may stake or exchange coins, making profit on them. (Waiting list registration started at - https://token.wono.io/).
The Wono token has "to-the-moon" potential and is likely to make X1000+ profit. Here's why:
1) Pioneer. Wono is the first freelance exchange, implementing cryptocurrency. Their competitors do not use crypto. After all the project's goals are fully integrated, Wono would be the first freelance exchange in the world, using crypto as the payment between freelancers and customers. By the way, in the US, 38% freelancers already admitted they would like to get paid in crypto. This project would be the first in the market, and it's likely that the token's price would go high.
2) NFT-certification. The Wono tokens have NFT-certification. That means a freelancer may upload his CV or qualification certificates that would be approved by the platform, giving more rating to a freelancer. This creates trust between a freelancer and an employer who wants to hire a qualified professional. Trust is one of the most important things in the freelance industry. As a result, more people will be interested in the platform, and more people would be willing to pay for the trust, safety and brilliant specialists. As the platform grows bigger, so does the token price.
3) Huobi listing. The tokens will be listed on Huobi. It's the third best cryptocurrency exchange in the world after Binance and Coinbase. It has 10+ mln users. Huobi supports the Wono project and recently they have started implementing a common crypto-wallet for tokens and other coins. Such support from a big crypto-exchange is a strong factor, indicating that the token price will go up.
So, the Wono project has the prospect to "get over the moon" and bring investors X1000 profit. Mainly, because of its idea and a global trend potential, as more people are going freelance now. Getting tokens ahead of time, before using them for freelance exchange transactions, and before it all gets "mainstream" is a good investment and an opportunity that Wono offers. Of course, the final choice whether to buy tokens or not is up to a user. This is just a recommendation.
Usage:
!lntip <number of satoshis>
Further/Advanced usage & Help:
Accepting Bitcoin at Your Business: Pros, Cons and How to Get Started:
https://www.nerdwallet.com/article/small-business/accepting-bitcoin-crypto
Quicker, cheaper payments can be an attractive proposition for existing businesses. Crypto payments also might unlock new business models, similar to how the rise of card payments enabled the growth of online shopping.
Cryptocurrency: A cryptocurrency payment tool provides a user interface that makes transacting in crypto easier for the merchant and the customer. These tools can also help ease issues related to price fluctuation and often provide a built-in way to convert crypto to dollars. Crypto transactions aren’t required to be routed through payment tools — instead, they are a value-add service.
Credit cards: A credit card processor communicates with card networks and banks to verify customer identities, confirm that customers have sufficient funds or credit and initiate the movement of money from the acquiring bank to the merchant’s account. It’s impossible to accept a card payment without a payment processor.
FEES:
Crypto: 0% if done directly with customer. Can be 1% or so using a payment tool.
Credit cards: Standard flat rate is 2.9% plus 30 cents per transaction, but varies by processor.
Safety and security :
Crypto: Little to no responsibility for compliance or fraud.
Credit cards: Responsibility for compliance and (via fees) for fraud.
Resolving customer issues :
Crypto: No legal protections or chargebacks to manage, but you'll likely need to make clear your own policies.
Credit cards: Decisions often in the hands of card networks, and they often favor the customer.
Bottom line: You don’t need a payment service to accept crypto like you do with card payments, fees are cheaper with crypto, no fraud protection and no legal protection when you accept crypto. The only negative point for crypto is the volatility.
But then, on the other hand, you are protected against high inflation.
Fidelity Clearing Canada ULC is now offering Bitcoin custody, and it is the first such service in Canada. Canadian investors have more opportunities now to get in touch with the crypto world.
We make sunglasses that actually fit over prescription eyewear. Our core customer base is 40+ years old, which is about when people stop worrying so much about style and start looking after their eyes properly.
Only our US website is accepting BTC at the moment, but by the end of the year it will be on all of our sites worldwide. The majority of our glasses are sold by eyecare professionals… who can also pay us in BTC now.
I know we’re early but better than being late.
… and more specifically, does not allow posts about buying dips, hodl, should I buy, should I sell etc.
The posts here are repetitive, trade-orientated and often naive / ignorant. No offense intended but I would prefer to read about real life progress of BTC.
Thank you.
I have money in bank accounts owned by a trust and a non-profit organization. How can I buy bitcoin with this money?
I have been trying to open a corporate account with Coinbase, but it's been months of red tape. Is there a better way? How can an organization (or trust), rather than an individual, buy crypto?
Michael Sonnenshein, CEO of digital asset management company Grayscale, stated that the ongoing question of whether U.S. regulators will approve Bitcoin spot exchange-traded funds has transcended the “investment world” and attracted politicians, and has “become a political issues". Last week, we saw the support of Representatives Tom Emmer and Darren Soto for the Bitcoin Spot ETF. Sonnenshein referred to the two's arguments and pointed out that the US Securities and Exchange Commission "is actually only worried about the potential Bitcoin market." According to Sonnenshein, the cryptocurrency industry and now politicians are demonstrating that "if you are satisfied with derivatives and the pricing of these futures contracts comes from the spot market itself, then you are essentially satisfied with the spot market."
Hi all. I've been involved with bitcoin since 2013. While I was not involved for extended periods of time, it is something I have always been deeply passionate about. In 2014-2015, I was convinced bitcoin was going to be the future of currency. I had no interest in getting rich off of it and simply wanted to be a part of something that intrigued me. I have not posted on this subreddit since approx. 2015. At the time I believed bitcoin/blockchain tech was going to be as revolutionary as the internet. Through the years a few things have surprised me.
- In my eyes, bitcoin would not have made it past 2015 without a hard fork, I still cannot comprehend that bitcoin is able to function (although not without flaws) in todays world with the volume we are seeing.
- The publics perception of bitcoin as an inflationary hedge and genuine store of value
- The continued praise of Satoshi and his vision, I believe bitcoin has mostly stayed true to its core values
- I am astounded by the continued denial of cryptocurrencies as an asset class by institutions. Through reports I have read, institutions are only getting involved due to client demand, I firmly believe this is a failure on their end.
Overall, I cannot put into words how bitcoin has reshaped my vision of the world, and the revolution it has introduced to finance is nothing short of incredible. I'd love to hear others experiences over the years.
First off - Sorry if this is a sensitive topic or rides too close to others privacy, or has been asked 1,000 times. Delete if not allowed, please.
I know the mantra from most is “not your keys, not your coins” and I understand that… but isn’t spreading out your holdings throughout different wallets/exchanges the safest play?
I guess I’m just wondering how many serious long term holders are doing this rather than piling everything in one spot.. any feedback is appreciated
I'm not a US citizen so I don't have SSN/TIN. I've used P2P platforms like local bitcoins in the past but it can be difficult to weed out scammers and BTC ATM's are a hassle to travel to and charges a lot on fees. There has to be a easier way? Appreciate any help I can get, thanks 🙏
Mark Randi, I am calling you and CNN out for your woefully weak assessment of inflation risks. The idea that government spending/debt in no way contributes to inflation ignores the World's experience with debt for the last 100 years. These assertions are ridiculous. I quote:
"All of this refutes the notion that the government spending and tax breaks to support the economy through the pandemic, including the American Rescue Plan this past March, are somehow behind the higher inflation. These factors certainly gave a boost to demand last spring, but that faded when the Delta variant gained momentum this fall. There is also no good way to connect the dots between the Build Back Better agenda, which is currently being debated in Congress, and higher inflation."
Inflation comes out of a series of bad choices most often, not a singular event. And the fact that it didn't happen at that exact moment does not prove your thesis one bit. Consider the world's experience with war time spending and the aftermath. This piece was written with an agenda and it sucks.
When hope is the plan, as you seem to suggest Mark, there is no plan. Buying Bitcoin is an actual plan.
Based on my non expertise in crypto I saw the previous ATH in 2017 for BCH and where we currently stand. Yeah it could go up or it could go down based on the amount of BCH circulating I feel is some what a safe bet to hold it. I drew some lines on a chart with my cryons and if we are able to hit the 4.236 fib extension based on 2017 ATH we can possibly hit 17k per BCH. BTC AND ETH did it why can’t this dinosaur do it as well? Just a thought please comment your thoughts
Needing an offsite for coins purchased either ledger or hard wallet creation. Any suggestions would be appreciated for swapbnb.finance
Hi
I have had a jerking off addiction for a larger part of my life and it is not something I am proud of. I’ve tried everything I can to stop from deleting all triggering apps , using internet filters , keeping myself occupied, giving myself consequences everytime I fail and so much more but it all seems to fail.
I came to a realization after achieving post nut clarity that it is most likely an addiction I won’t be able to overcome so the best I can do is manage/make the most of it at least.
I practice a budgeting system using a money pipeline modeled after Thomas Frank’s money pipeline and I decided anytime I beat my meat I will take a 100$ from my entertainment fund and put it into my Bitcoin savings this way even though I fail in managing my addiction I get punished ( paying for beating my meat ) and rewarded ( investing into a long term fund ) at the same time.
Although this may not be the best way to manage an addiction, it’s the least I can do to make the most out of it anytime I fail.
Looking forward to hear your thoughts , advice and discussions
I know you have to take responsibility and deal with it but it feels so shitty I can't even explain it. When it happened I thought I was gonna be sick. Still can't believe it hours later.
I would hear a lot in crypto communities that everyone gets liquidated in futures at one point, I just never though it'd happen to me.
I only started trading futures a month and a half ago. I basically lost $6.5k that I put in, which is pretty much all the savings I had and the profits that I made along with it. All because I didn't use stop losses and the positions just kept falling. I also should have never opened more than 10 positions. I had about 14.
I was doing pretty well too upto this point. Since I am apart of some signals chats I had made decent money trading 20x lev, about $200-$400 per day in profit. I would also exit losing positions quick - but this flash crash caught me off guard. All my positions were losing positions and I didn't want to realize losses.
I wanted to share this here, maybe some of you could give me advice about anything at this point, don't know who to talk to about it. I know I can succeed with futures but I don't even know where I go from here since I'm unemployed too. Its really taking a toll on my mental.
Anyway thanks for reading. Any comment would be much appreciated.
I decided to invest in it in April when I found out about its utility and vast institutional support.
I own 5.4 BCH and spent $5k.
At $580, I stomach a ~40% loss.
Let me tell you something.
No way I’m selling secure, trustless, real world p2p cash at a loss for institutions to gobble up, when its price is barely at its full potential.
This is a long term investment. Not a get rich quick scheme.
If the price recovers, I’ll be taking profits by actually buying stuff with it.
Have stoicism.
From what I understand, the SmartBCH side chain uses a PoS consensus that is tied deeply to the PoW consensus mechanism of the main chain, so what are transaction fees on smartBCH like? For example, BSC has fees of about 5 cents last I used it (21000 gas at 5 gwei) and ethereum has some unholy fee per transaction. What are the gas prices for smartBCH, and how would it cost if the dollar value of 1 bch = 1 smartbch? Thanks!
“Projects that reward participants with valuable digital tokens or similar incentives could cross a line into activity that should be regulated, no matter how decentralized they say they are.” – Gary Gensler, August 2021
The Securities and Exchange Commission (SEC) is one of the most frustrating bureaucracies in the United States. It is at once expansive in its mission creep but slow to react to clear and obvious frauds in real time, it possesses serious power to destroy people’s lives but is grotesquely selective in who it charges, and it is nakedly political while publicly claiming to be a humble servant of the retail investor class. The SEC is like the Internal Revenue Service (IRS), except people know the name of the head of the SEC because he is on television all the time.
Gary Gensler is coming for DeFi, and don’t blame the chicken for giving you fair warning.
DeFi stands for decentralized finance, and it is the crypto world’s attempt to radically transform the entire financial system. It is truly innovative, dynamic, and filled with promise for a better world. It is also a direct threat to the core power base of the global elite – the world is already great for them, remember – and we suspect they won’t go down without a real fight. If we’re correct, that fight begins in earnest soon.
The SEC is all the things in the opening paragraph and one more: it is also predictable. When targeting a sector, the SEC playbook calls for three simple steps. First, SEC officials jawbone in public. Second, important policy statements are released on its website. Finally, the SEC cracks its knuckles and sets about the task of punching people in the face – but it tends to target only those who can’t punch back (i.e., most crypto billionaires will be just fine). Last week, it passed from the first to the second step. The trip to the third is usually a short one.
On November 9, 2021, SEC Commissioner Caroline Crenshaw published what we believe will be seen as a historically important statement on DeFi. If you know how to read such statements, the clear message of this one is undeniable
In Part I of the statement, Crenshaw insists that when it comes to DeFi, the word “finance” is just as important as the word “decentralized.” She makes the case that virtually all DeFi programs in existence today fall under the SEC’s jurisdiction. Here are two key quotes (emphasis added throughout this piece):
“So while the underlying technology is sometimes unfamiliar, these digital products and activities have close analogs within the SEC’s jurisdiction.”
“But these offerings are not just products, and their users are not merely consumers. DeFi, again, is fundamentally about investing. This investing includes speculative risks taken in pursuit of passive profits from hoped-for token price appreciation, or investments seeking a return in exchange for placing capital at risk or locking it up for another’s benefit.”
In Part II, Crenshaw reminds the public that unregulated markets suffer from structural limitations including corruption, fraud, self-dealing, and substantial information asymmetries among investors. She opens this section with a zinger aimed directly at today’s DeFi participants:
“Market participants who raise capital from investors, or provide regulated services or functions to investors, generally take on legal obligations*. In what may be* an attempt to disclaim those legal obligations*, many DeFi promoters disclose broadly that DeFi is risky and investments may result in losses, without providing the details investors need to assess risk likelihood and severity.*”
In Part III, Crenshaw drops the hammer. Using language that could not be more clear, she effectively calls virtually all existing DeFi projects illegal. Here’s the key passage:
“For example, a variety of DeFi participants, activities, and assets fall within the SEC’s jurisdiction as they involve securities and securities-related conduct. But no DeFi participants within the SEC’s jurisdiction have registered with us*, though we continue to encourage participants in DeFi to engage with the staff.”*
Let’s summarize what’s being said here. If your DeFi project has characteristics of securities (almost all do) and it allows US investors to participate (almost all do), you need to register with the SEC (and none have). Failure to register with the SEC in this context is blatantly illegal conduct, and it has the power to stop it. People are still being charged for illegal initial coin offerings from the last crypto peak – here’s an example from early September:
“The Securities and Exchange Commission today charged Rivetz Corp., Rivetz International SEZC, and Steven K. Sprague, the President of Rivetz and CEO of Rivetz International, with conducting an illegal, unregistered offering of securities through an initial coin offering.
According to the SEC's complaint, between July and September 2017, the defendants offered and sold digital assets designated as "RvT tokens" to the general public, including U.S. investors*, for the purpose of capitalizing Rivetz's business.*”
In Part IV of her statement, Crenshaw cuts to the chase:
“That being said, for non-compliant projects within our jurisdiction, we do have an effective enforcement mechanism. For example, the SEC recently settled an enforcement action with a purported DeFi platform and its individual promoters. The SEC alleged they failed to register their offering, which raised $30 million, and misled their investors while improperly spending investor money on themselves. To the extent other offerings, projects, or platforms are operating in violation of securities laws, I expect we will continue to bring enforcement actions**.**”
She goes on to say that her preferred path is not through enforcement and that she does not consider enforcement inevitable. That’s a fine hedge to explain why only certain people will be charged by the SEC in the coming years.
How can existing DeFi projects get right with the law? In Part V, Crenshaw lays out two main concerns: transparency and pseudonymity. DeFi projects need to be far more transparent with investors about governance and operations, anti-dilution rights, and the distribution of benefits across various classes of investors – all the things a typical registration filing would cover. The SEC also objects to the pseudonymous nature of DeFi participants. Currently, transaction volumes can be faked, bots can collude to drive up values, insiders can leverage their information asymmetry without proper disclosure, and money launderers have free reign. According to SEC, all this needs to end. She goes on to say exactly that:
“I recognize that in some ways DeFi is synonymous with pseudonymous*. The use of alphanumeric strings that obscure real world identity was a core feature of Bitcoin and has been present in essentially all blockchains that have followed.* But in the U.S., investors have long been comfortable with a compromise in which they give up some limited degree of privacy by sharing their identity with the entity through which they trade securities. In return, they benefit from regulated markets that are more fair, orderly, and efficient, with less manipulation and fraud.”
But…doesn’t that effectively end DeFi as we know it?
Predicted signs of the coming rapture have taken many forms - stars falling from the sky, seven-headed beasts bursting with rage like Mount Vesuvius (and locusts, and blood rivers, and lightening storms, oh my!). The SEC has posted a sign that requires very little in the way of interpretation: it is time for DeFi to get its house in order. Those in the crypto world may want to finally take notice of the bell-ringing crazies in the sandwich board signs proclaiming the end is nigh.