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Author Topic: Will cryptocurrencies like Bitcoin ever gain mass adoption?  (Read 31936 times)

Online Eliza Abrams

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #315 on: June 04, 2019, 03:11:57 PM »
In order for cryptos to gain mass adoption they need to be stable enough for most people to have trust in them - i.e. people who are not interested the currency trading world to begin with.
Currently we have situations like this - only recently Bitcoin dropped 15% of its value in just 15 minutes due to a court decision to order Tether to stop loaning money to Bitfinex.

If I were one of those people (who are not interested in trading to begin with and just want a stable currency to use) I wouldn't touch cryptos with a ten-foot pole.


Offline oportunis

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #316 on: June 04, 2019, 04:13:54 PM »
Why not? You have stablecoins they are pegged to USD 1:1 and they are cryptocutrency just not good for trading since you cant profit.

Offline Humble Trader's Fx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #317 on: June 04, 2019, 10:33:25 PM »
Why not? You have stablecoins they are pegged to USD 1:1 and they are cryptocutrency just not good for trading since you cant profit.

Again, you pull out info out of thin air; according to Forbes, Stablecoin is a ponzi scheme, worse than BTC. I wouldn't not only touch it, I would scream out loude to save others from this crypto scam.


"But with the price of Bitcoin and other cryptocurrencies in the doldrums, a new scam is rising to the top, like bits of toilet paper in sewage: stablecoins."


https://www.forbes.com/sites/jasonbloomberg/2018/11/25/bernie-madoff-move-over-stablecoins-have-you-beat/#d2192a67dab1

Keep trying to peddle your crypto wares.  ;)


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

Offline oportunis

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #318 on: June 05, 2019, 10:35:04 AM »
If stablecoins are a scam than all banks that are backing them are scams too. Check who is backing them and complain to banks, why are they in business with them...

Online Eliza Abrams

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #319 on: June 11, 2019, 02:32:28 PM »
Some new data - according to the new FCA report, British citizens have lost 34 million USD to cryptocurrency exchange and forex scams for 2018 alone.

Still, the data, gathered by Action Fraud shows a positive trend individual loss due to scams decreased from 76 000 USD to 18 500 USD while total losses fell from over 48 million USD in 2017.

The total number of reported scams, however more than tripled to reach to 1834, where over a fifth are connected to crypto scams.


Offline y5nitro

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #320 on: June 16, 2019, 03:26:34 PM »
Well, I can see that we already have statistics about scamming in crypto world. However, if you would like to use statistical analysis properly then it would be nice to compare it with number of scamming in fiat currencies. I bet that this amount would be measured in billions of US dollars

Offline Humble Trader's Fx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #321 on: June 16, 2019, 04:07:26 PM »
Well, I can see that we already have statistics about scamming in crypto world. However, if you would like to use statistical analysis properly then it would be nice to compare it with number of scamming in fiat currencies. I bet that this amount would be measured in billions of US dollars

Dear y5nitro.

You don't need to bet anything, especially when you are simply trying to spread false information, just come up with some "reliable" numbers from a "legitimate" entity to prove what you are saying.

I think what Eliza is alluding to is "Forex", which includes all types of exchanges from metals, oils, fiat currencies and of course cryptos; cryptos, having  +20% increase in scams. Which means, if crypto scams were 35% last, now they are 35% +20% = 55% of all scams... this is only an guesstimate from me because I don't have the previous stats.


"The total number of reported scams, however more than tripled to reach to 1834, where over a fifth are connected to crypto scams."
  ;)


Regards,
HumbleTrader
« Last Edit: June 16, 2019, 04:13:26 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 drunkfx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #322 on: June 17, 2019, 05:50:23 PM »
Well, I can see that we already have statistics about scamming in crypto world. However, if you would like to use statistical analysis properly then it would be nice to compare it with number of scamming in fiat currencies. I bet that this amount would be measured in billions of US dollars

Are you talking about financial scam, outright one? Crypto projects will definitely beat fiat projects in that sense in relative terms (% of scam from the 100% of projects). That's why crypto needs enhanced regulation.

Offline Humble Trader's Fx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #323 on: June 17, 2019, 11:07:49 PM »
Well, I can see that we already have statistics about scamming in crypto world. However, if you would like to use statistical analysis properly then it would be nice to compare it with number of scamming in fiat currencies. I bet that this amount would be measured in billions of US dollars

Are you talking about financial scam, outright one? Crypto projects will definitely beat fiat projects in that sense in relative terms (% of scam from the 100% of projects). That's why crypto needs enhanced regulation.

Here we go again, with baseless predictions. ::)



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

Online Eliza Abrams

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #324 on: June 18, 2019, 04:39:26 PM »
CoinCheck, the Japanese cryptocurrency exchange that was hacked back in 2018 for over 530 million USD may have been attacked by Russian hackers.

Originally it was believed that the attack from January 2018, which costed the crypto currency exchange some 534 million USD in NEM, had came from North Korea. The latest evidence however show that computer viruses, linked to Russian hackers have been found in Coincheck employees computers.

Variants of the viruses, called Mokes and Netwire, which originated in Russia in 2011 and 2007 respectively, have been e-mailed to Coincheck employees on purpose. After the employees opened the infected e-mails, hackers were able to take over their computers remotely.


Offline Humble Trader's Fx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #325 on: June 21, 2019, 01:14:55 AM »
BTC, the canary in the crypto mine?

The Quantum Attack on Bitcoin

Here is an article which "clarifies", what I have been saying for years about Quantum computing by my quote,  "Quantum computers will make today's computing and blockchain be like a kid's tricycle, sitting next to a Maserati":

https://medium.com/drive-insider/the-quantum-attack-on-bitcoin-d676017024bc


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

Offline oportunis

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #326 on: June 22, 2019, 08:20:21 AM »
Blockchain can move to quantum computing also and no threat...

I won the bet if we would have made it ;) $10k before $500 per BTC... I wonder when will you start buying it? :) We are here for profit as I know and most are missing out on it. Crypto is a good diversification, to have some funds in it, the same as in stocks, gold, real estate, forex...

Offline Humble Trader's Fx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #327 on: June 22, 2019, 12:02:50 PM »
Blockchain can move to quantum computing also and no threat...

I won the bet if we would have made it ;) $10k before $500 per BTC... I wonder when will you start buying it? :) We are here for profit as I know and most are missing out on it. Crypto is a good diversification, to have some funds in it, the same as in stocks, gold, real estate, forex...

On thing you should appreciate about me; I am extremely happy when people extend their personal wealth, through skill and guts... look at my signature motto:

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

I wish your luck continuous.  8)


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

Offline Balanced FX Portfolios

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #328 on: June 22, 2019, 01:28:45 PM »
Blockchain can move to quantum computing also and no threat...

I won the bet if we would have made it ;) $10k before $500 per BTC... I wonder when will you start buying it? :) We are here for profit as I know and most are missing out on it. Crypto is a good diversification, to have some funds in it, the same as in stocks, gold, real estate, forex...

On thing you should appreciate about me; I am extremely happy when people extend their personal wealth, through skill and guts... look at my signature motto:

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

I wish your luck continuous.  8)


Regards,
HumbleTrader

Nicely said.

I made around 1k profit on Bitcoin investments in June. I've cashed out half of that to re-invest into one of my REIT's.

Given Crypto's volatile and unpredictable nature, I take any chance to cash out and re-invest in more familiar asset classes that pay me monthly dividends.

Heading out to enjoy the sunshine, have a great weekend all.  8)

Online Eliza Abrams

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #329 on: June 25, 2019, 03:46:10 PM »
The founder and CEO of now defunct QuadrigaCX Gerald Cotton used clients funds for private ends, reported the firms bankruptcy trustee Ernst & Young Inc. More specifically, Cotton, who died in mysterious circumstances last year, used customers funds to trade for his own account on other cryptocurrency exchanges.

QuadrigaCX, which was Canada's biggest cryptocurrency exchange, ceased operations this year. The company filed for protection from creditors in January, and was declared bankrupt in mid-April, owing customers $190 million worth of cryptocurrency and fiat.

Significant volumes of cryptocurrency were transferred off platform outside Quadriga to competitor exchanges into personal accounts controlled by Mr. Cotten, Ernst & Young Ernst and Young outlined outlined in the report. It appears that User Cryptocurrency was traded on these exchanges and in some circumstances used as security for a margin trading account established by Mr. Cotten.

Are authorities sure this guy really is dead?

 

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