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Author Topic: Will cryptocurrencies like Bitcoin ever gain mass adoption?  (Read 14711 times)

Offline Eliza Abrams

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #105 on: October 04, 2018, 03:18:37 PM »
I know there's a difference. I am glad the technology is being used in a pragmatic way regarding the money transfers. My hope is that it will lead to more regulations for the actual crypto exchanges.

Online Humble Trader's Fx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #106 on: October 04, 2018, 03:27:00 PM »
I know there's a difference. I am glad the technology is being used in a pragmatic way regarding the money transfers. My hope is that it will lead to more regulations for the actual crypto exchanges.

World financial institution regulators are immersed in working out all the do's and don'ts regarding this fascinating new technology and how it could serve the masses rather than the a"ss.  :D


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HumbleTrader


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Offline Eliza Abrams

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #107 on: October 09, 2018, 02:46:41 PM »
The Emirates Securities and Commodities Authority (ESCA) plans to recognize initial coin offerings (ICOs) as a new way for companies to rise capital.  The move is expected to be adopted in the first half of next year.

The board of the Emirates Securities & Commodities Authority has approved considering ICOs as securities. As per our plan we should have regulations on the ground in the first half of 2019, the head of the securities regulator Obaid Saif al-Zaabi said earlier on Monday.


Online Humble Trader's Fx

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« Last Edit: October 11, 2018, 01:28:47 PM by Humble Trader's Fx »
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Offline jwatts7701

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #109 on: October 11, 2018, 04:25:54 PM »
crazy that the IMF (an exploiting, corrupt organization) could cause that big of a move. I am sure they have some fears if crypto receives wide spread adoption (which it will in time).

Online Humble Trader's Fx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #110 on: October 11, 2018, 05:43:45 PM »
crazy that the IMF (an exploiting, corrupt organization) could cause that big of a move. I am sure they have some fears if crypto receives wide spread adoption (which it will in time).

Yup, " a corrupt " organization according to who, other than your point of view or some conspiracy theory by Trump and gang: Maybe you are right after all because, pssss.... don't tell anyone but the USA practically controls it (IMF), but again, who knows, certainly Trump doesn't which might be a good thing.  ;)


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HumbleTrader
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Offline jwatts7701

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #111 on: October 11, 2018, 06:32:43 PM »
Yah you are right, the International Monetary Fund is a far cry from "international". The World Bank is far from a "world" bank as well. It is controlled by the USA since they have full veto power due to being the largest contributors.

But this has been the same cycle since the creation of these institutions. This has nothing to do with Trump, but it is pretty well known these days.

They go in to a country with appealing resources offering huge loans. These loans in turn typically go to US based corporations inside the country who want the country's resources (not the people or local corps). The country cannot pay back the debt, so creative ways to refinance it happen instead with "imposed conditionalities". Then what unfolds is currency devaluation, corporatocracy, and privatization of resources and social services. This is why impoverished countries remain impoverished, and why poverty increases and the income gap widens hugely.

This is know around the world. But unfortunately it is business as usual.

Widespread crypto-adoption (I can only assume) would certainly throw a wrench in these "international" financial institutions' daily grind.

Online Humble Trader's Fx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #112 on: October 11, 2018, 07:17:02 PM »
Yah you are right, the International Monetary Fund is a far cry from "international". The World Bank is far from a "world" bank as well. It is controlled by the USA since they have full veto power due to being the largest contributors.

But this has been the same cycle since the creation of these institutions. This has nothing to do with Trump, but it is pretty well known these days.

They go in to a country with appealing resources offering huge loans. These loans in turn typically go to US based corporations inside the country who want the country's resources (not the people or local corps). The country cannot pay back the debt, so creative ways to refinance it happen instead with "imposed conditionalities". Then what unfolds is currency devaluation, corporatocracy, and privatization of resources and social services. This is why impoverished countries remain impoverished, and why poverty increases and the income gap widens hugely.

This is know around the world. But unfortunately it is business as usual.

Widespread crypto-adoption (I can only assume) would certainly throw a wrench in these "international" financial institutions' daily grind.

I don't want to get off topic but to make only one point: IMF, does "not", go to any country as you put it but each country goes to the IMF asking for a rescue because, for one reason or another, they have screwed up their economy.  Trump and gang, however, "go", to many countries where they stir up trouble, get opposite parties to war with each other, so they can sell them murderous weapons. At least in these cases, we can trace this form of " enterprise ", because currencies are traceable,  cryptos however, are not! Bottom line with me is that I would prefer to know an illegal act taking place and work towards a resolution, rather than witness human suffering and not know who are the perpetrators.   :)


Regards,
HumbleTrader
« Last Edit: October 11, 2018, 10:49:30 PM by Humble Trader's Fx »
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Offline jwatts7701

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #113 on: October 14, 2018, 11:35:55 PM »
Thats true Humble. I guess whowever you want to blame it on is fine. I don't want you to think I am a trump fan LOL, at all. Cause I certainly am NOT!

But just showing you what a true wolf in sheep's clothing the IMF and WB are when people actually think and believe they are doing good in the world. It sounds like a compelling story they have of course, which is easy why some people think they are necessary.

But the facts remain and that is that the IMF and WB have been providing loans and grants and advice to the poorest countries in the world for over 50 years now. Yet, none of what they do has led to economic prosperity to anyone other than corrupt and ruling elites in the developing world. It has had the opposite effect than it's storyline tells.

The global south (Latin America and Africa) and to a lesser degree Russia are prime examples of this failure.

I know that there are a lot of libertarians who are keen on cryptos for this very reason. While crypto won't be the final answer, it may start to "shake up" the broken systems in place.

Not to sound to bleak about it, but currently we essentially have a small handful of massive business powers who dominate everything including the natural resources we all need to live, while at the same time controlling the MONEY we need, to obtain these. So we have a monopoly based on corporate/financial power. This is worsening as long-term geopolitical interests start misaligning.

I don't want to get off topic either. But I think that wide spread crypto adoption COULD, POTENTIALLY, have a greater impact than the IMF and WB could in these areas. It remains to be seen how big, if any, of an impact this could make.

Offline jwatts7701

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #114 on: October 14, 2018, 11:37:19 PM »
Humble I wouldn't worry about illegal usage / money laundering of crypto either. It won't be any better or worse than what we see now on fiat. Remember laundering fiat is EASY (if you know what you are doing) - and I do not know from experience for the record. Laundering crypto is hard. Even on anonymous coins. Especially when they go to "cash out".

Someone before me said it best in that when political leaders say that cryptocurrency must be regulated due to "money laundering concerns", what they really mean is we are completely powerless at preventing fiat currency laundering so were going to focus our efforts on cryptocurrency instead ;)

Online Humble Trader's Fx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #115 on: October 15, 2018, 12:39:00 AM »
Thats true Humble. I guess whowever you want to blame it on is fine. I don't want you to think I am a trump fan LOL, at all. Cause I certainly am NOT!

But just showing you what a true wolf in sheep's clothing the IMF and WB are when people actually think and believe they are doing good in the world. It sounds like a compelling story they have of course, which is easy why some people think they are necessary.

But the facts remain and that is that the IMF and WB have been providing loans and grants and advice to the poorest countries in the world for over 50 years now. Yet, none of what they do has led to economic prosperity to anyone other than corrupt and ruling elites in the developing world. It has had the opposite effect than it's storyline tells.

The global south (Latin America and Africa) and to a lesser degree Russia are prime examples of this failure.

I know that there are a lot of libertarians who are keen on cryptos for this very reason. While crypto won't be the final answer, it may start to "shake up" the broken systems in place.

Not to sound to bleak about it, but currently we essentially have a small handful of massive business powers who dominate everything including the natural resources we all need to live, while at the same time controlling the MONEY we need, to obtain these. So we have a monopoly based on corporate/financial power. This is worsening as long-term geopolitical interests start misaligning.

I don't want to get off topic either. But I think that wide spread crypto adoption COULD, POTENTIALLY, have a greater impact than the IMF and WB could in these areas. It remains to be seen how big, if any, of an impact this could make.

Just to let you know, jwatts7701, I agree almost entirely with your assertions but I feel that in some way, things have changed over the years where those who dominate have come to realize that uncontrolled power leads to a massive change of events whereby their hold on  power is very fluid to other upcoming forces, as such, they are looking forward to a more humane and powersharing enterprise; one such example is,  The Giving Pledge:

https://givingpledge.org/

Those who "have made it", have decided to share their wealth; this to me is a major shift for humanity. As to the IMF and other such institutions, I can only state that everyone is grateful to have bankers come to their rescue, bankers should be extremely careful to whom they lend money and the possibility of repayment without resorting to Mafia-like tactics, to collect "after the fact"; to collect their pound of flesh.


Regards,
HumbleTrader
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Offline Eliza Abrams

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #116 on: October 16, 2018, 04:24:25 PM »
Credit card provider MasterCard applies restrictive rules to unregulated forex and binary options brokers, crypto providers and ICOs. As of today, a new set of revised standards enters into force for those classified as “high-risk securities merchants” and they will have to play by the rules and execute transactions only in jurisdictions where they are legally allowed to operate.

Offline fxliner

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #117 on: October 20, 2018, 04:47:34 PM »
 It is quite likely that five or 10 years half the world will know what Bitcoin is and we wont even notice how we got there.

Yah you are right, the International Monetary Fund is a far cry from "international". The World Bank is far from a "world" bank as well. It is controlled by the USA since they have full veto power due to being the largest contributors.

But this has been the same cycle since the creation of these institutions. This has nothing to do with Trump, but it is pretty well known these days.

They go in to a country with appealing resources offering huge loans. These loans in turn typically go to US based corporations inside the country who want the country's resources (not the people or local corps). The country cannot pay back the debt, so creative ways to refinance it happen instead with "imposed conditionalities". Then what unfolds is currency devaluation, corporatocracy, and privatization of resources and social services. This is why impoverished countries remain impoverished, and why poverty increases and the income gap widens hugely.

This is know around the world. But unfortunately it is business as usual.

Widespread crypto-adoption (I can only assume) would certainly throw a wrench in these "international" financial institutions' daily grind.

Online Humble Trader's Fx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #118 on: October 20, 2018, 05:44:51 PM »
It is quite likely that five or 10 years half the world will know what Bitcoin is and we wont even notice how we got there.

Yah you are right, the International Monetary Fund is a far cry from "international". The World Bank is far from a "world" bank as well. It is controlled by the USA since they have full veto power due to being the largest contributors.

But this has been the same cycle since the creation of these institutions. This has nothing to do with Trump, but it is pretty well known these days.

They go in to a country with appealing resources offering huge loans. These loans in turn typically go to US based corporations inside the country who want the country's resources (not the people or local corps). The country cannot pay back the debt, so creative ways to refinance it happen instead with "imposed conditionalities". Then what unfolds is currency devaluation, corporatocracy, and privatization of resources and social services. This is why impoverished countries remain impoverished, and why poverty increases and the income gap widens hugely.

This is know around the world. But unfortunately it is business as usual.

Widespread crypto-adoption (I can only assume) would certainly throw a wrench in these "international" financial institutions' daily grind.

That is a fair hypothesis,  but you need to provide some evidence other than your crystal ball. But I guess if Trump can dismiss climate change despite the overwhelming scientific evidence, you can dismiss the facts about cyptos.

Regards,
HumbleTrader
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.








Offline Benjamin7

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #119 on: October 22, 2018, 06:53:48 PM »
I hope that such a time happens but it will happen in the distinct future. There are a lot of complications and issues that must be addressed before thinking of mass adaption. You need to create a consensus in major of the economic countries which will take a lot of time.

 

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