Bitcoins worth more than gold
- violet
- Suspicious Little Mad Woman
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I am a bit retarded in the area of crypto currency, but I love trying to wrap my head around what life in the future will be like.starkmonster wrote:Firstly I would say that Bill Gates isn't some kind of oracle, Microsoft seriously underestimated both the web and mobile. He saw the internet as a content distribution platform (correct), but completely missed that browsers would run web based applications that not only compete with desktop software, but in all but the most specialized cases completely supersede them.McPhisto wrote:Is it that these old school billionaire titans are clueless about the real-world uses for cryptocurrencies in terms of tax avoidance and money laundering and so don't see the upsides, or are they just so financially entrenched in the old banking system that they have incentives to publicly denounce cryptos and lobby heavily for their regulation. I'm sure it's the latter.
I can only imagine as the fiat currencies gradually implode, especially the widely held US dollar, that cryptocurrencies will continue to be in demand, up to the point that most governments clamp down and ban them completely due to lost tax revenues.
Similar mistake with mobile. Microsoft still viewed them as telephones, rather than entertainment systems.
He's now making the same mistake with crypto. He's viewing this tech as only a replacement currency, rather than a system that allows the middleman to be removed from any type of transaction, contract or transfer of value at any scale, be it a fraction of a cent, or millions of dollars. The future implications of that are more wide reaching and revolutionary than even the internet.
From an investment standpoint, I think cryto tokens are high risk as they are effectively nothing more than protocols. The real money will be made by investing in innovative companies that create the application layer on top of this new technology stack. The companies that will be to crypto what Google, Facebook and Amazon are to the internet.
I would love a little more of your thoughts about the impact of cutting out the middle man, and how the impact will be more far reaching than the internet. I am assuming, and hoping, you aren't merely speaking of money making potential.
Just thinking about it now, it means bye bye financial institutions as we know them, I suppose. Would that mean wealth is distributed among many more than with our current system?
... Please provide the bomb that sends my thoughts off in a 109 directions.
Ta.
The mind is not a vessel to be filled, but a fire to be kindled.
- Plutarch
- Plutarch
Or selling mining equipment. When there's a gold rush, don't dig - sell shovels.Gin&Tonic wrote:The real money is running an exchange.
- R.Nick
- 440 newbie - handle with care
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I was looking for good exchanges all time and woah! I found this rating https://bitcoinbestbuy.com/exchanges/be ... exchanges/ So as i thought previously coinbase and coinmama are the best. Hope it's useful information.
- Bong Burgundy
- A Moment of Clarity
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http://sea-globe.com/whatever-happened- ... ocurrency/Whatever happened to… Cambodia’s ‘government-backed’ cryptocurrency?
By: Robin Spiess - Posted on: June 19, 2018 | Business
News of a cryptocurrency endorsed by the Cambodian government began circulating earlier this year, with international media also picking up the story. Then suddenly, it all went quiet. So what exactly happened to Entapay – the company behind it – and its ambitions to create a Cambodian cryptocurrency?
It was less an office as much as it was a lavish home, outfitted with chandeliers, plush couches and an imposingly large foyer decorated in red and gold hues. Situated in the heart of Phnom Penh’s Tuol Kork District, the sizeable house sat comfortably in line with the large villas dotted along the road.
Golden plaques, each fastened to the wall beside the front door, boldly read out the names of agencies housed within the building, including the China Commerce in Cambodia Association and three other China-based businesses.
Though the building was meant to house the head office for Entapay, a cryptocurrency founded by Chinese businessmen and launched in Cambodia earlier this year, no mention of either the crypto or its partner organisation, the freshly founded Cambodia Blockchain Industry Development Association, could be found at the site.
“Entapay? No, no, they’re not here,” said a man working in the building who identified himself as a secretary named ‘Spark’. “They were here before, months ago. Maybe they moved their office, or they probably went back to China.”
While no evidence of Entapay remained at the site, photos adorning the walls of the waiting room pictured prominent Chinese businessmen shaking hands with the Cambodian elite who had purportedly lent the Entapay project their official support, including Deputy Prime Minister Men Sam An and Hing Bun Heang, the unit commander of Hun Sen’s bodyguards.
Though neither Men Sam An nor Hing Bun Heang ever confirmed their endorsement for the Entapay project, with Bun Heang telling local media outlets that his good name was being used by “bad people” when contacted for comment, both of their photos remain on the Entapay website, where they are listed as supporters of the project.
The curious case of a cambodian cryptocurrency
Entapay wasn’t the first cryptocurrency to try to launch in Cambodia, but it was the first to make broad claims of local governmental support.
In early March, Entapay published a press release stating that Cambodia would be “trying to issue legal digital tender” by “following Venezuela’s lead” after the South American country began piloting its own government-backed cryptocurrency, called Petra, earlier this year.
In likening itself to Petra, Entapay drew the attention of several international news outlets – including the UK-based Telegram and Express publications – that announced the Cambodian government’s intention to adopt a national cryptocurrency.
But to those on the ground in Cambodia, this seemed unlikely. The Cambodian government has continuously warned against the use of cryptocurrencies in the Kingdom. When contacted, both the National Bank of Cambodia (NBC) and the Securities and Exchange Commission of Cambodia (SECC) denounced the rumours that Entapay was somehow supported or licenced by the government.
Entapay’s founders, Chinese businessmen Hannibal Song and Weibin Deng, met with local news outlets in March to “alleviate any misconceptions” that might have been spread as a result of their suggestive press release.
Speaking through their translator, public relations specialist Richard Lee, the two men admitted that Entapay was not officially endorsed by the Cambodian government, and explained that they had not been in contact with the NBC or SECC to discuss the legality of their crypto project.
“We’re going to be getting a licence that never existed before, so we’re not sure who is going to be handling it,” said Lee. “We are going to meet [Prime Minister] Hun Sen in April. And we are going to apply for the licence from him, directly.”
Song, Deng and Lee have not been available for comment since, and their Cambodian crypto project seems to have all but fizzled out.
Bringing the news. You stay classy, nas, Cambodia.
Coinbase sucks. They have had plenty of occasions where you couldn't login to get yr crypto of the exchange. For buying crypto I prefer Kraken (they updated their system a few months ago and their help desk is pretty fast) and Gemini.R.Nick wrote:I was looking for good exchanges all time and woah! I found this rating https://bitcoinbestbuy.com/exchanges/be ... exchanges/ So as i thought previously coinbase and coinmama are the best. Hope it's useful information.
Sent from my HUAWEI VNS-L31 using Tapatalk
Entapay was a scam coin, most people that know anything about crypto knew as soon as they claimed they had rcaf support, when they became visible, and was immediately disputed by the rcaf. You have threads on this very forum where people have gotten in trouble buying crypto with a cambodian bank account., why would one part of the gov't back an illegal currency? Anyone who believed these guys needs to read up on Chinese and Korean scam coins and tokens, smh.Bong Burgundy wrote:http://sea-globe.com/whatever-happened- ... ocurrency/Whatever happened to… Cambodia’s ‘government-backed’ cryptocurrency?
By: Robin Spiess - Posted on: June 19, 2018 | Business
News of a cryptocurrency endorsed by the Cambodian government began circulating earlier this year, with international media also picking up the story. Then suddenly, it all went quiet. So what exactly happened to Entapay – the company behind it – and its ambitions to create a Cambodian cryptocurrency?
It was less an office as much as it was a lavish home, outfitted with chandeliers, plush couches and an imposingly large foyer decorated in red and gold hues. Situated in the heart of Phnom Penh’s Tuol Kork District, the sizeable house sat comfortably in line with the large villas dotted along the road.
Golden plaques, each fastened to the wall beside the front door, boldly read out the names of agencies housed within the building, including the China Commerce in Cambodia Association and three other China-based businesses.
Though the building was meant to house the head office for Entapay, a cryptocurrency founded by Chinese businessmen and launched in Cambodia earlier this year, no mention of either the crypto or its partner organisation, the freshly founded Cambodia Blockchain Industry Development Association, could be found at the site.
“Entapay? No, no, they’re not here,” said a man working in the building who identified himself as a secretary named ‘Spark’. “They were here before, months ago. Maybe they moved their office, or they probably went back to China.”
While no evidence of Entapay remained at the site, photos adorning the walls of the waiting room pictured prominent Chinese businessmen shaking hands with the Cambodian elite who had purportedly lent the Entapay project their official support, including Deputy Prime Minister Men Sam An and Hing Bun Heang, the unit commander of HE’s bodyguards.
Though neither Men Sam An nor Hing Bun Heang ever confirmed their endorsement for the Entapay project, with Bun Heang telling local media outlets that his good name was being used by “bad people” when contacted for comment, both of their photos remain on the Entapay website, where they are listed as supporters of the project.
The curious case of a cambodian cryptocurrency
Entapay wasn’t the first cryptocurrency to try to launch in Cambodia, but it was the first to make broad claims of local governmental support.
In early March, Entapay published a press release stating that Cambodia would be “trying to issue legal digital tender” by “following Venezuela’s lead” after the South American country began piloting its own government-backed cryptocurrency, called Petra, earlier this year.
In likening itself to Petra, Entapay drew the attention of several international news outlets – including the UK-based Telegram and Express publications – that announced the Cambodian government’s intention to adopt a national cryptocurrency.
But to those on the ground in Cambodia, this seemed unlikely. The Cambodian government has continuously warned against the use of cryptocurrencies in the Kingdom. When contacted, both the National Bank of Cambodia (NBC) and the Securities and Exchange Commission of Cambodia (SECC) denounced the rumours that Entapay was somehow supported or licenced by the government.
Entapay’s founders, Chinese businessmen Hannibal Song and Weibin Deng, met with local news outlets in March to “alleviate any misconceptions” that might have been spread as a result of their suggestive press release.
Speaking through their translator, public relations specialist Richard Lee, the two men admitted that Entapay was not officially endorsed by the Cambodian government, and explained that they had not been in contact with the NBC or SECC to discuss the legality of their crypto project.
“We’re going to be getting a licence that never existed before, so we’re not sure who is going to be handling it,” said Lee. “We are going to meet [Prime Minister] HE in April. And we are going to apply for the licence from him, directly.”
Song, Deng and Lee have not been available for comment since, and their Cambodian crypto project seems to have all but fizzled out.
Nearly stuck $20k in Envion during their ICO. Transaction failed (ring bank) and I forgot (had beer to drink).
Now it’s all gone to shit but not because it was a scam but because the one thing cryptocurrencies can’t control: people.
Utter clusterfuck.
Now it’s all gone to shit but not because it was a scam but because the one thing cryptocurrencies can’t control: people.
Utter clusterfuck.
pew, pew, pew, pew!
Put some money in Bitcoin and wait for everyone to come running when the banks, financial institutions and right-wing governments pull another one of their scams. After all, they just can't help themselves. It's a 100% certainty.
Lets say you do put money in BTC and this “scam” at the banks does happen. Then what?Oldnews wrote:Put some money in Bitcoin and wait for everyone to come running when the banks, financial institutions and right-wing governments pull another one of their scams. After all, they just can't help themselves. It's a 100% certainty.
You can’t purchase everyday stuff with BTC. How you going to pay your mortgage or rent or buy some fuel for your car? How you going to transfer your crypto to fiat, without a scamming bank account?
Good luck, but I imagine you don’t have any fiat let alone crypto to worry about it!
pew, pew, pew, pew!
https://money.cnn.com/2018/06/19/techno ... index.htmlOne of the world's biggest bitcoin exchanges on Wednesday said that more than $30 million worth of cryptocurrencies have been stolen from it.
Bithumb, an exchange based in South Korea, said in a notice on its website that all customer deposits and withdrawals have been suspended while it reviews the situation.
The notice didn't say how the theft of 35 billion won ($32 million) worth of cryptocurrencies occurred or which ones were taken.
The exchange said it will compensate the loss from its own funds and that all customers' assets have been "securely saved" in the company's "cold wallet."
Bitcoin seems relatively stable lately at $6300 or so. About where it was one year ago in the midst of it's meteoric rise.
Who you trying to convince, us or yourself?McPhisto wrote:Bitcoin seems relatively stable lately at $6300 or so. About where it was one year ago in the midst of it's meteoric rise.
pew, pew, pew, pew!
Not trying to convince anyone as I hold no bitcoins and have no plans to ever do so. But the whole bitcoin experiment is fascinating and i do monitor the value on occasion to see if the wild predictions from pro and anti crypto currency pundits ever materialize. It has been so insanely volatile for such a long time that a prolonged period of stability in value is also mildly interesting.YaTingPom wrote:Who you trying to convince, us or yourself?McPhisto wrote:Bitcoin seems relatively stable lately at $6300 or so. About where it was one year ago in the midst of it's meteoric rise.
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