collapse

Author Topic: Will cryptocurrencies like Bitcoin ever gain mass adoption?  (Read 14698 times)

Offline Eliza Abrams

  • Sr. Member
  • ****
  • Posts: 932
Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #120 on: October 25, 2018, 03:51:39 PM »
A US federal court ordered a New York company to pay $2.5 million in fines and restitution for running a Ponzi scheme that scammed at least 80 people, who thought they were investing in bitcoin.

The Commodity Futures Trading Commission (CFTC) took action in this first ever anti-fraud bitcoin related case in September 2017. The court ruled that Gelfman Blueprint Inc. and its CEO Nicholas Gelfman solicited more that 600 000 USD from retail investors between 2014 and 2016 by claiming their funds were part of an algorithmic trading strategy.


Offline norman

  • Jr. Member
  • **
  • Posts: 80
Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #121 on: November 27, 2018, 11:48:44 AM »
While bitcoin is the king of cryptocurrencies, most people still aren't using it day to day, and thousands of other coins remain largely undiscovered, which means crypto still hasn't achieved mass adoption. This makes it difficult to prove as a mass adpotion in the future.

Online FxTS

  • Jr. Member
  • **
  • Posts: 11
Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #122 on: November 28, 2018, 05:36:24 AM »
To my mind, cryptocurrencies could gain mass adoption. Just look at the recent news:
- Ohio accept crypto for tax payments,
- Nasdaq is going to launch futures on BTC,
- ECB`s Lagard proposes to think about issuing cryptocurrency for transations between banks.

Cryptocurrency becomes more and more popular, so it possibly would become a common way of payment. Of course, to be so, the price of main tokens should find its long term range.

Offline Humble Trader's Fx

  • Global Moderator
  • Sr. Member
  • *****
  • Posts: 1139
Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #123 on: November 28, 2018, 09:57:37 PM »
To my mind, cryptocurrencies could gain mass adoption. Just look at the recent news:
- Ohio accept crypto for tax payments,
- Nasdaq is going to launch futures on BTC,
- ECB`s Lagard proposes to think about issuing cryptocurrency for transations between banks.

Cryptocurrency becomes more and more popular, so it possibly would become a common way of payment. Of course, to be so, the price of main tokens should find its long term range.

Dear FxTS.

You must be one of those who have a vested interest and use smoke and mirrors to promote your cause:

1- Josh Mandel, the Ohio State Treasurer, his term ends in January. Therefore, he could be singing in the dark.


2. Nasdaq’s Bitcoin Futures Could Launch in Q1 2019.

3. ECB`s Lagard proposes to think about issuing cryptocurrency for transactions between banks.

Perhaps you too, like McAfee, could put some meat into your certainty and eat your dick at some point, we can then appreciate your certainty in your assurance. ;)


Regards,
HumbleTrader
« Last Edit: November 29, 2018, 12:28:36 AM by Humble Trader's Fx »
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.








Offline Humble Trader's Fx

  • Global Moderator
  • Sr. Member
  • *****
  • Posts: 1139
Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #124 on: November 29, 2018, 02:00:24 PM »
Will Bitcoin become a long-term trusted store of value?

Whether one should invest in bitcoin or not depends on whether you think Bitcoin will become a long-term trusted store of value.

If it does become a long-term trusted store of value, BTC should trade around $2,000,000 a coin (depending on how many coins are lost and are actually in circulation). That is over 468x ( 1 Bitcoin equals, 4,265.01 United States Dollar, Nov. 29, 1:49 p.m., UTC ) price of where BTC is today.

https://www.forbes.com/sites/quora/2017/12/26/is-investing-in-bitcoin-a-good-idea/#53861d3eef32

Regards,
HumbleTrader

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








Offline Eliza Abrams

  • Sr. Member
  • ****
  • Posts: 932
Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #125 on: November 29, 2018, 03:19:40 PM »

Ohio became the first US state to allow bitcoin payments for a wide range of corporate taxes.

Since Monday businesses throughout the state are allowed to use the crypto coin to pay for as many as 23 taxes with just 1% fee, which is a smaller charge than the standard 2,5% credit card fee.

For the time being the authorities in Ohio accept only Bitcoins and not any other of the major crypto coins like Ethereum, Ripple, Monero or Dash. Also, the option is limited to corporate taxes and citizens are not allowed to pay personal taxes with the crypto currency.

Offline Humble Trader's Fx

  • Global Moderator
  • Sr. Member
  • *****
  • Posts: 1139
Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #126 on: November 30, 2018, 08:20:59 PM »
Is Bitcoin Dead?

  https://www.fool.ca/2018/11/29/is-bitcoin-dead/

Regards,
HumbleTrader

« Last Edit: November 30, 2018, 08:27:34 PM by Humble Trader's Fx »
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.








Offline Eliza Abrams

  • Sr. Member
  • ****
  • Posts: 932
Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #127 on: December 01, 2018, 01:01:20 PM »
The bubble had to pop sooner or later, I think the question is whether there will be another eventually. :(

Offline Humble Trader's Fx

  • Global Moderator
  • Sr. Member
  • *****
  • Posts: 1139
Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #128 on: December 06, 2018, 10:01:09 PM »
The bubble had to pop sooner or later, I think the question is whether there will be another eventually. :(

Bitcoin (BTC/USD) moving lower on heavy technicals with no bottom in sight.


https://www.fxstreet.com/cryptocurrencies/news/bitcoin-btc-usd-moving-lower-on-heavy-technicals-with-no-bottom-in-sight-201812061645

1 Bitcoin equals
3,594.86 United States Dollar
Dec. 6, 10:00 p.m.

Regards,
HumbleTrader
« Last Edit: December 06, 2018, 10:03:54 PM by Humble Trader's Fx »
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.








Online FxTS

  • Jr. Member
  • **
  • Posts: 11
Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #129 on: December 07, 2018, 05:45:01 AM »
To my mind, cryptocurrencies could gain mass adoption. Just look at the recent news:
- Ohio accept crypto for tax payments,
- Nasdaq is going to launch futures on BTC,
- ECB`s Lagard proposes to think about issuing cryptocurrency for transations between banks.

Cryptocurrency becomes more and more popular, so it possibly would become a common way of payment. Of course, to be so, the price of main tokens should find its long term range.

Dear FxTS.

You must be one of those who have a vested interest and use smoke and mirrors to promote your cause:

1- Josh Mandel, the Ohio State Treasurer, his term ends in January. Therefore, he could be singing in the dark.


2. Nasdaqs Bitcoin Futures Could Launch in Q1 2019.

3. ECB`s Lagard proposes to think about issuing cryptocurrency for transactions between banks.

Perhaps you too, like McAfee, could put some meat into your certainty and eat your dick at some point, we can then appreciate your certainty in your assurance. ;)


Regards,
HumbleTrader

Dear HumbleTrader,

I have any relation to crypto industry, so I have no personal interest in its promotion. I even have no funds in crypto to search for news that confirm my position to feel safe.

The only idea is that I see lot of regulatory news, showing that the general attitude to crypto has changed. For example, Malta has already created special crypto regulation (just google MFSA website, its Malta financial authority). Something is going on.

The point is that I am mostly against crypto, excluding stablecoins, that potentially could be created by the governments. Existing crypto has no value itself, so it would always been too volatile to use it for payments.

So, think a bit more before starting to attack and blame someone been crypto promoter and interested person, Ok?

Offline Humble Trader's Fx

  • Global Moderator
  • Sr. Member
  • *****
  • Posts: 1139
Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #130 on: December 07, 2018, 01:51:27 PM »
http://www.bbc.com/news/world-europe-46480892
To my mind, cryptocurrencies could gain mass adoption. Just look at the recent news:
- Ohio accept crypto for tax payments,
- Nasdaq is going to launch futures on BTC,
- ECB`s Lagard proposes to think about issuing cryptocurrency for transations between banks.

Cryptocurrency becomes more and more popular, so it possibly would become a common way of payment. Of course, to be so, the price of main tokens should find its long term range.

Dear FxTS.

You must be one of those who have a vested interest and use smoke and mirrors to promote your cause:

1- Josh Mandel, the Ohio State Treasurer, his term ends in January. Therefore, he could be singing in the dark.


2. Nasdaq’s Bitcoin Futures Could Launch in Q1 2019.

3. ECB`s Lagard proposes to think about issuing cryptocurrency for transactions between banks.

Perhaps you too, like McAfee, could put some meat into your certainty and eat your dick at some point, we can then appreciate your certainty in your assurance. ;)


Regards,
HumbleTrader

Dear HumbleTrader,

I have any relation to crypto industry, so I have no personal interest in its promotion. I even have no funds in crypto to search for news that confirm my position to feel safe.

The only idea is that I see lot of regulatory news, showing that the general attitude to crypto has changed. For example, Malta has already created special crypto regulation (just google MFSA website, its Malta financial authority). Something is going on.

The point is that I am mostly against crypto, excluding stablecoins, that potentially could be created by the governments. Existing crypto has no value itself, so it would always been too volatile to use it for payments.

So, think a bit more before starting to attack and blame someone been crypto promoter and interested person, Ok?

Hello, FXTS.

I don't see how I am blaming you for anything; I am simply demonstrating that the points you bring out are not complete and may be misleading. I would advise you to go back on this thread and the one on "Bitcoin Discussion", to become familiar with my points of view on this subject, here is a summary:

1- Only legitimate, free-market governments can issue currencies of any sort and take the responsibility of monitoring the number and use of such.

2- The technology driving cryptocurrencies, blockchain, is a good one and "may" be adopted by legitimate sanctioned banking institutions to transact exchanges.

3- Any "non-governmental sanctioned", cryptocurrencies that do come about are Ponzi schemes developed to scam gullible consumers and deny them legitimate savings which they may have.

4- Cryptocurrencies, "crypto" (Greek hidden), cannot have any other goal other than evading authorities from tracking down underworld activities and a way of perverting societies.

Finally, there is the environmental cost: The mining of cryptos has proven to be a huge waste of energy and one responsible for producing a large amount of heat responsible for environmental degradation. Although at first, blockchain "efficiency" was peddled by crypto enthusiasts as being a more efficient form of transactions, the environmental cost does not balance out. There are many "enthusiasms" which come about which look great at first but turn out to reveal hidden drawbacks which all of us as taxpayers have to face and pay, here is an unrelated example and one which has just presented itself in Canada where I reside and I will use to prove my point:

You must have heard that Canada has become one of the first countries to legitimize the use of cannabis( marijuana). The reasons given by the supporters was that (a) It had medicinal use for people in need of various ailments. (b) It would choke off an income source for the underworld (c) It would reduce the criminalization for possession of a "weed". All these were legitimate and benign reasons, most importantly it would cost the public little and in fact would be a source of revenue for taxation by the governments. Today, we find that all of the above is true except in that the average family will now have to fork out an extra 400$/year for food! How has that come about you may ask? Given that here in Canada most of our fresh fruit and vegetables are imported, mostly in winter months and plenty of others are raised in greenhouses to meet local needs,  it turns out that those raising crops in greenhouses, are now converting them to grow cannabis instead because the profit factor is 4-5 times greater to raising weed instead of, say tomatoes!

I really don't see what the enthusiasm is all about crypto's except that proliferated by those who want to promote and cash in on a fad and that is where we need to be vigilant here: Who is promoting a reasonable strategy for trading in Forex, be it a form of an EA, training or simply sharing strategies, versus those who come through the back door trying to pull the wool over our eyes disguised as such.

Regards,
HumbleTrader

« Last Edit: December 07, 2018, 02:31:16 PM by Humble Trader's Fx »
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.








Offline oportunis

  • Jr. Member
  • **
  • Posts: 47
Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #131 on: December 07, 2018, 07:55:38 PM »
Finally, there is the environmental cost: The mining of cryptos has proven to be a huge waste of energy and one responsible for producing a large amount of heat responsible for environmental degradation. Although at first, blockchain "efficiency" was peddled by crypto enthusiasts as being a more efficient form of transactions, the environmental cost does not balance out. There are many "enthusiasms" which come about which look great at first but turn out to reveal hidden drawbacks which all of us as taxpayers have to face and pay, here is an unrelated example and one which has just presented itself in Canada where I reside and I will use to prove my point:


Regards,
HumbleTrader
Crypto mining is a fart in the air compared to banking environmental cost... https://coincentral.com/what-is-the-environmental-impact-of-bitcoin-mining/

« Last Edit: December 07, 2018, 07:59:52 PM by oportunis »

Offline Humble Trader's Fx

  • Global Moderator
  • Sr. Member
  • *****
  • Posts: 1139
Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #132 on: December 07, 2018, 10:32:17 PM »
Finally, there is the environmental cost: The mining of cryptos has proven to be a huge waste of energy and one responsible for producing a large amount of heat responsible for environmental degradation. Although at first, blockchain "efficiency" was peddled by crypto enthusiasts as being a more efficient form of transactions, the environmental cost does not balance out. There are many "enthusiasms" which come about which look great at first but turn out to reveal hidden drawbacks which all of us as taxpayers have to face and pay, here is an unrelated example and one which has just presented itself in Canada where I reside and I will use to prove my point:


Regards,
HumbleTrader
Crypto mining is a fart in the air compared to banking environmental cost... https://coincentral.com/what-is-the-environmental-impact-of-bitcoin-mining/



You got be kidding, right; your source of 'fartsy information" is the BTC promoter, Coincentral.com?

Here is my source: https://www.researchgate.net/publication/321383875_Current_Trends_in_Sustainability_of_Bitcoins_and_Related_Blockchain_Technology

In this "scientific" research, you will probably jump to quoting that long, long time, from now, BTC or crypto production "might" become more efficient than other forms of transactional exchanges but "if" they become a legitimately recognized forms of "recognized exchange". But to parallel this with existing systems it is truly a much destructive form of "experimental" technology, when it comes at a time in the history of our planet where we have less than 12 years to change our environmental impact less we find doomsday. (UN current research, https://www.unenvironment.org/news-and-stories.)  The key statement in this research is the acknowledgment of the fact that: " Bitcoin and other forms of cryptocurrency are particularly attractive for libertarian and/or anarchist sympathizers, who want to see money removed from the control of governments or a central bank." In other words, when we have destroyed our civilization, our atmosphere and we return to the laws of the jungle, there might be a use of cryptos but then again, who would want to be around in this dystopian world when there will probably arise a better currency, called a "pound of flesh"?

Back in November 28, 2017, you advised holding on to BTC at 10k, acknowledging that it might go to an extreme low of 8k, "10k could be resistance if people take profit, but now most people are just holding as they think it can go to 100k :) So the correction shouldn't be that big. Maybe to 8k and than back up".

Ref: Re: Bitcoin Discussion
Reply #79 on: November 28, 2017, 11:09:12 AM

Enjoy your cryptos while they depreciate, let us know your purchase price so we can celebrate with you when you do make it BIG! ;)

1 Bitcoin equals
3,377.84 United States Dollar
Dec. 7, 11:20 p.m.

Regards,
HumbleTrader
« Last Edit: December 07, 2018, 11:58:44 PM by Humble Trader's Fx »
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.








Offline oportunis

  • Jr. Member
  • **
  • Posts: 47
Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #133 on: December 08, 2018, 01:01:24 AM »
Finally, there is the environmental cost: The mining of cryptos has proven to be a huge waste of energy and one responsible for producing a large amount of heat responsible for environmental degradation. Although at first, blockchain "efficiency" was peddled by crypto enthusiasts as being a more efficient form of transactions, the environmental cost does not balance out. There are many "enthusiasms" which come about which look great at first but turn out to reveal hidden drawbacks which all of us as taxpayers have to face and pay, here is an unrelated example and one which has just presented itself in Canada where I reside and I will use to prove my point:


Regards,
HumbleTrader
Crypto mining is a fart in the air compared to banking environmental cost... https://coincentral.com/what-is-the-environmental-impact-of-bitcoin-mining/



You got be kidding, right; your source of 'fartsy information" is the BTC promoter, Coincentral.com?

Here is my source: https://www.researchgate.net/publication/321383875_Current_Trends_in_Sustainability_of_Bitcoins_and_Related_Blockchain_Technology

In this "scientific" research, you will probably jump to quoting that long, long time, from now, BTC or crypto production "might" become more efficient than other forms of transactional exchanges but "if" they become a legitimately recognized forms of "recognized exchange". But to parallel this with existing systems it is truly a much destructive form of "experimental" technology, when it comes at a time in the history of our planet where we have less than 12 years to change our environmental impact less we find doomsday. (UN current research, https://www.unenvironment.org/news-and-stories.)  The key statement in this research is the acknowledgment of the fact that: " Bitcoin and other forms of cryptocurrency are particularly attractive for libertarian and/or anarchist sympathizers, who want to see money removed from the control of governments or a central bank." In other words, when we have destroyed our civilization, our atmosphere and we return to the laws of the jungle, there might be a use of cryptos but then again, who would want to be around in this dystopian world when there will probably arise a better currency, called a "pound of flesh"?

Back in November 28, 2017, you advised holding on to BTC at 10k, acknowledging that it might go to an extreme low of 8k, "10k could be resistance if people take profit, but now most people are just holding as they think it can go to 100k :) So the correction shouldn't be that big. Maybe to 8k and than back up".

Ref: Re: Bitcoin Discussion
Reply #79 on: November 28, 2017, 11:09:12 AM

Enjoy your cryptos while they depreciate, let us know your purchase price so we can celebrate with you when you do make it BIG! ;)

1 Bitcoin equals
3,377.84 United States Dollar
Dec. 7, 11:20 p.m.

Regards,
HumbleTrader
Just calculate. If 1 ounce of gold costs 1000 USD. ON yearly basis we mine about 3000 ton of gold. So 105.821.900 x 1000 we get 105 billion and so on...
You can FUD as much as you want, crypto is here to stay. In fact, I don't care where it goes as I trade both ways. My next target is 2k. But my buying price of BTC you won't see. It will go to 10k before it goes to 500... I might be wrong nothing is 100%, but so far crypto trading has been more profitable than FX. 

Offline Humble Trader's Fx

  • Global Moderator
  • Sr. Member
  • *****
  • Posts: 1139
Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #134 on: December 08, 2018, 03:56:38 PM »
Finally, there is the environmental cost: The mining of cryptos has proven to be a huge waste of energy and one responsible for producing a large amount of heat responsible for environmental degradation. Although at first, blockchain "efficiency" was peddled by crypto enthusiasts as being a more efficient form of transactions, the environmental cost does not balance out. There are many "enthusiasms" which come about which look great at first but turn out to reveal hidden drawbacks which all of us as taxpayers have to face and pay, here is an unrelated example and one which has just presented itself in Canada where I reside and I will use to prove my point:


Regards,
HumbleTrader
Crypto mining is a fart in the air compared to banking environmental cost... https://coincentral.com/what-is-the-environmental-impact-of-bitcoin-mining/



You got be kidding, right; your source of 'fartsy information" is the BTC promoter, Coincentral.com?

Here is my source: https://www.researchgate.net/publication/321383875_Current_Trends_in_Sustainability_of_Bitcoins_and_Related_Blockchain_Technology

In this "scientific" research, you will probably jump to quoting that long, long time, from now, BTC or crypto production "might" become more efficient than other forms of transactional exchanges but "if" they become a legitimately recognized forms of "recognized exchange". But to parallel this with existing systems it is truly a much destructive form of "experimental" technology, when it comes at a time in the history of our planet where we have less than 12 years to change our environmental impact less we find doomsday. (UN current research, https://www.unenvironment.org/news-and-stories.)  The key statement in this research is the acknowledgment of the fact that: " Bitcoin and other forms of cryptocurrency are particularly attractive for libertarian and/or anarchist sympathizers, who want to see money removed from the control of governments or a central bank." In other words, when we have destroyed our civilization, our atmosphere and we return to the laws of the jungle, there might be a use of cryptos but then again, who would want to be around in this dystopian world when there will probably arise a better currency, called a "pound of flesh"?

Back in November 28, 2017, you advised holding on to BTC at 10k, acknowledging that it might go to an extreme low of 8k, "10k could be resistance if people take profit, but now most people are just holding as they think it can go to 100k :) So the correction shouldn't be that big. Maybe to 8k and than back up".

Ref: Re: Bitcoin Discussion
Reply #79 on: November 28, 2017, 11:09:12 AM

Enjoy your cryptos while they depreciate, let us know your purchase price so we can celebrate with you when you do make it BIG! ;)

1 Bitcoin equals
3,377.84 United States Dollar
Dec. 7, 11:20 p.m.

Regards,
HumbleTrader
Just calculate. If 1 ounce of gold costs 1000 USD. ON yearly basis we mine about 3000 ton of gold. So 105.821.900 x 1000 we get 105 billion and so on...
You can FUD as much as you want, crypto is here to stay. In fact, I don't care where it goes as I trade both ways. My next target is 2k. But my buying price of BTC you won't see. It will go to 10k before it goes to 500... I might be wrong nothing is 100%, but so far crypto trading has been more profitable than FX.

Like I have said to others earlier, "it would be nice to put some meat into your prediction"; John McAfee has the balls to state it ( running out of the rest), that he will eat his dick if BTC doesn't reach 500k. Perhaps you can make a similar pledge that it will not dip below 500$ USD?   ;)

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








 

browse forum