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BitCoin falling like a Dotcom


joeken24

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11 hours ago, Corcaigh said:

 

When to stop throwing good money after bad is the question.

US dollar is good money lol. 

 

All printed money dies because governments are selfish and reckless. 

 

The same will happen to the US dollar. It is accelerating currently. 

 

My bet is bitcoin survives. 

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I expect that some form of digital currency will survive and thrive, but betting on bitcoin, i.e. BTC itself, being the one given its legacy and problems with scalability is not a great bet. Speculate all you want, but this is a game for whales.

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38 minutes ago, Corcaigh said:

I expect that some form of digital currency will survive and thrive, but betting on bitcoin, i.e. BTC itself, being the one given its legacy and problems with scalability is not a great bet. Speculate all you want, but this is a game for whales.

Speculating, investing, call it what you will.

 

I don't see an inherent difference between the crypto market and the stock market. Sure the stock market has more regulation but at the end of the day it is still manipulated by politics and whales. 

 

BTC is unique for many reasons, and a scaling solution will likely be found with time. It's not going anywhere unless security on the chain is compromised. It's been 10 years and that hasn't happened yet. 

 

 

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2 hours ago, TryTheBeal! said:

First rule of buying bitcoin is “never stop telling people to buy bitcoin”.

Well this is a bitcoin thread afterall. 

 

I try not to mention when to buy or sell. Bitcoin markets can make you feel silly and are difficult to predict.

 

Plus it's more for me in the meantime. 

Edited by sportjunkie07
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Indian bill to ban crypto ‘awaiting approval’

 

The Indian government has confirmed in a Right to Information (RTI) reply that the inter-ministerial committee’s cryptocurrency bill is “awaiting approval of the government.” The bill is currently being examined by various ministries, Bitcoin.com reports.

 

The government of India has been sitting on a cryptocurrency draft bill since it was submitted to the Finance Ministry early last year. Entitled “Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019,” the document was drafted by an inter-ministerial committee headed by former finance secretary Subhash Chandra Garg.

 

While no formal announcement regarding the progress of the bill has been made, some media reports suggest that consultation has begun on this bill. To establish the veracity of this news, lawyer Mohammed Danish, co-founder of Crypto Kanoon, filed an RTI application with the Department of Economic Affairs.

 

In its short reply dated July 13, the department wrote: “The government has set up inter-ministerial committee (IMC) for examining the issues of cryptocurrencies under the chairmanship of Secretary (EA).”

 

The letter continues: “The report of the IMC on VCs [virtual currencies] has since been submitted by its members, but is awaiting approval of the government. The report and bill now be examined by the government through inter-ministerial consultation by moving a cabinet note in due course.”


Danish explained to Coinpedia publication on Wednesday that “The present bill contemplates a blanket ban on everything related to cryptocurrencies.”

 

Click on the link for the full article

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