The future of Bitcoin - page 4. | Bitcointalksearch.org

BitcoinPanther

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Quote from: Tony116 on December 01, 2022, 09:55:28 AM

This may sound harsh, but it is true, CEX is much more convenient than DEX and the market would be tough to develop without CEX. It can be said that CEX provides all the necessary services and utilities so that we can use them conveniently and also make a profit in this market. Most newbies will look to CEX instead of DEX, DEX for them is pretty complicated and not user-friendly as well as transaction fees are very high and this is what investors complain about the most. We can only hope that the DEX will improve and upgrade in the future to provide us with better options soon.

It is true that centralized crypto exchanges and services had help alot in promoting Bitcoin, but I do not think that DEX is not convenient to use. DEX can save you the trouble of filling up forms for registration, also saves us from trouble of lots of authentications. It is not convenient to people who are used to centralized exchanges but to those who are using it, it is more than a breeze because we are able to control almost everything while trading. Sadly, despite of these advantages of DEX, CEX is still occupy the largest pie on user data. Which I think will continue to flourish even with these LUNA and FTX fiasco repeats to happen.

Stalker22

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Quote from: xanto on November 30, 2022, 12:35:18 PM

What do you think will be the fate of bitcoin in the future?

What will be the fate of Bitcoin? Well, as someone already said, Bitcon will be Bitcoin.
We do not know what people will do with Bitcoin and frankly, no one is going to know until we start seeing adoption among the masses - if we see large scale adoption in the long term.

Ultimately the decision to utilize Bitcoin lies in the users hands. If you want to transfer money from a country that restricts your finances, you may need to avoid traditional banks and any other third party services. Bitcoin is not just a valid form of currency, it is also a system that can protect your privacy as well. Although governments may want to control it, they cannot. At least not completely. They can control centralized services, but Bitcoin is designed as a Peer-to-Peer cash system and does not depend on centralized services.

kryptqnick

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The KYC obligation regardless of the sums a person is dealing with is something I find unfair because people can often exchange fiat currencies to a certain point without KYC, and I feel like the legislation should not make it tougher for Bitcoin than for fiat cash. As for taxes, they depend on a country and its legislation heavily, and it is something people should try advocating for relaxing in their countries if the taxes there are unfair.
I think Bitcoin's future is largely as an investment option but also somewhat as a payment method, and it is the future of regulations, but we can try ensuring that the regulations are fair and mild.

ilovealtcoins

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Quote from: ?? on ??

If you are not comfy with a centralized exchange, feel free to use DEX. That's what many people say too.

Using a DEX can help you hide your identity, but it's not completely secure, so be careful with a DEX, never trust anyone too much.

Quote from: ?? on ??

Everyone is loud blaming regulation, government and centralized exchange instead of blaming themselves. Didn't they themselves decide to get involved with all centralized things?

Exactly, people will usually blame anyone when they lose money on an investment. They often don't take their share of the blame but they forget that no one is forcing them to put money into those exchanges.

aylabadia05

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Do not use a wallet from an exchange to store Bitcoins because it will not provide the security we expect. Use a wallet to store Bitcoins like Trezor. Most exchanges require our identity such as a passport or often called KYC. That's why your freedom feels deprived.
Using storage tools like Trezor or others costs a few Dollars, but I don't think it's much if security is more assured.

Quote from: xanto on November 30, 2022, 12:35:18 PM

What do you think will be the fate of bitcoin in the future?

The future of Bitcoin will be as bright as the morning sun in shining on the world Wink

posi

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Quote from: Yatsan on December 01, 2022, 05:48:31 PM

Quote from: michellee on December 01, 2022, 11:44:32 AM

As someone who wants to invest in crypto or bitcoin, you may choose whether to buy bitcoin on a centralized or decentralized exchange. It's about how you can accept everything that's going on, including the government's control over exchanges and how you can find comfort in buying those bitcoins.

The government is indeed trying to impose taxes on exchanges because crypto has now become a business that has the potential to get big profits. Hence, this attracts the government's attention to get taxes from the crypto sector on exchange exchanges. This will continue but we also have a decentralized exchange that doesn't need our data to buy bitcoin so we can use it freely.

Taxation is all that they are aiming of eversince this technology became popular. It even made an impression to non-crypto users as an easy way to get rich, which I think, made it no longer surprising for government's attention to eye on this growing industry. But at the present, they don't have that much power to control everything and this is because of the decentralized nature of cryptocurrencies. In the future, I think regulation is possible in this technology for Bitcoin and for other cryptocurrencies in order for it to be considered as an offical alternative mode of payment. If that will happen, I think its edge as an asset will decrease because demand won't be as high as the present or past, if it will be more accessible to the public masses. But that's the goal of cryptocurrencies which is to be used on daily transactions so it is quite a win-win.

Yes, you are correct, the government tried everything to ban bitcoins, but it seems that it failed and they now want to impose taxes more than they want to ban it, tax is something they crave because they have missed out for years.
Regulations for bitcoin and the market are a certainty, no longer a prediction. I believe the recent incidents are intentional and pre-planned, so that the government has a good reason to intervene in the market. One arrow hits two targets, both taxing and controlling us.

lovesmayfamilis

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Quote from: blockman on December 01, 2022, 03:54:07 AM

There's no doubt that the future of bitcoin is great but with the intervention of companies, exchanges, and the government, they're doing things that are against the principle of bitcoin.
We can't do anything with that but hopefully, someday, we won't be relying on these exchanges to have our bitcoins exchanged into another currency that we have. Without having the need to comply with the KYC and stuff. Because that's what we don't like with these exchanges.

You are free to do so today. Bitcoin does not force you to register on centralized exchanges; you can also still live by the principles that Satoshi preached. Use P2P exchanges and decentralized exchanges. People themselves, yielding to regulators, create more barriers to widespread adoption. We simply go along with those who want to spy on us, interfere, and dictate their terms.

michellee

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Quote from: Yatsan on December 01, 2022, 05:48:31 PM

Quote from: michellee on December 01, 2022, 11:44:32 AM

As someone who wants to invest in crypto or bitcoin, you may choose whether to buy bitcoin on a centralized or decentralized exchange. It's about how you can accept everything that's going on, including the government's control over exchanges and how you can find comfort in buying those bitcoins.

The government is indeed trying to impose taxes on exchanges because crypto has now become a business that has the potential to get big profits. Hence, this attracts the government's attention to get taxes from the crypto sector on exchange exchanges. This will continue but we also have a decentralized exchange that doesn't need our data to buy bitcoin so we can use it freely.

Taxation is all that they are aiming of eversince this technology became popular. It even made an impression to non-crypto users as an easy way to get rich, which I think, made it no longer surprising for government's attention to eye on this growing industry. But at the present, they don't have that much power to control everything and this is because of the decentralized nature of cryptocurrencies. In the future, I think regulation is possible in this technology for Bitcoin and for other cryptocurrencies in order for it to be considered as an offical alternative mode of payment. If that will happen, I think its edge as an asset will decrease because demand won't be as high as the present or past, if it will be more accessible to the public masses. But that's the goal of cryptocurrencies which is to be used on daily transactions so it is quite a win-win.

That's because the crypto business has become popular and many crypto companies have already benefited, so the government intends to withdraw taxation from this crypto business. And maybe even in the future, we as crypto users are also required to report to the government so they can also tax crypto users. I can't imagine what will happen if the governments of all countries try to apply this to crypto users because they will be forced to disclose all their wealth to the government.

worle1bm

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Quote from: pooya87 on November 30, 2022, 01:15:37 PM

The principle is about freedom, which means in order to acquire bitcoin or use bitcoin in any way you don't have to use centralized services including exchanges but you are free to use them or use bitcoin in any centralized manner if you choose.

People completely ignore the decentralisation concept of bitcoin by using these exchanges because for them freedom of funds is just to get away from banks but you are again contradicting with exchange as they also put restrictions on you so you are not getting the desired freedom.The best is to keep your funds in your custody without any of these exchange inclusion which will keep you safe.

mendace

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Quote from: xanto on November 30, 2022, 12:35:18 PM

Hello all,my friends. I think it's time to hear the opinion of the whole forum on this topic. Look what way bitcoin has gone from the beginning of its creation and to the present time. It has gone through everything: the fall, the rise, the hype, the huge theft, disappearing exchanges. But it still holds on and lives. And it holds on you and me as well. And it will live on.
I started reading this forum, when I was a student, and I read Satoshi's last post, but I decided to invest only some years later.
It's a great tool that gives you freedom, and everybody needs it.
But lately they little by little deprive us of this freedom, introducing passport photo, face and whatever else they want at registration on exchanges.
In my opinion, this contradicts all the principles that Satoshi promoted.
Bitcoin should be a tool of freedom and no state should control it.
They want to tax it and they want to control everything and they won't allow money to flow out of their economy.
It pains me that this is coming, but no one can do anything about it.
So I want to ask your opinion.

What do you think will be the fate of bitcoin in the future?

It is not easy to give an answer of what Bitcoin will be but I can say with certainty that I am not worried about taxation because it was born for this to fight governments. And I don't even worry about my documents because over time I have learned that there are not only centralized ones but there are other valid solutions, all free kyc. So I don't expect anything from Bitcoin just to continue exactly what it's doing now.

sulendra12

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Quote from: xanto on November 30, 2022, 12:35:18 PM

What do you think will be the fate of bitcoin in the future?

Bitcoin as the crypto? I don't think that will change, it will still be no. 1 of crypto with the technology and stuff with many events to cover such as next halving in 2024 and other stuff.
But, centralized exchanges using Bitcoin? There will be more of them in the future! More exchanges require you to send your photo and identity to them, so they can use it for their personal benefit and actually need your information in order to fully-used the platform. They feel like it's not a threat, so more exchanges will come with this idea.

It's also some of the countries need it because of the law agreement with the exchange to run at that country, this aspect though we can't do much about it. If it's more adoptions but with limitation then is it good for us?

Yatsan

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Quote from: michellee on December 01, 2022, 11:44:32 AM

As someone who wants to invest in crypto or bitcoin, you may choose whether to buy bitcoin on a centralized or decentralized exchange. It's about how you can accept everything that's going on, including the government's control over exchanges and how you can find comfort in buying those bitcoins.

The government is indeed trying to impose taxes on exchanges because crypto has now become a business that has the potential to get big profits. Hence, this attracts the government's attention to get taxes from the crypto sector on exchange exchanges. This will continue but we also have a decentralized exchange that doesn't need our data to buy bitcoin so we can use it freely.

Taxation is all that they are aiming of eversince this technology became popular. It even made an impression to non-crypto users as an easy way to get rich, which I think, made it no longer surprising for government's attention to eye on this growing industry. But at the present, they don't have that much power to control everything and this is because of the decentralized nature of cryptocurrencies. In the future, I think regulation is possible in this technology for Bitcoin and for other cryptocurrencies in order for it to be considered as an offical alternative mode of payment. If that will happen, I think its edge as an asset will decrease because demand won't be as high as the present or past, if it will be more accessible to the public masses. But that's the goal of cryptocurrencies which is to be used on daily transactions so it is quite a win-win.

KennyR

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The innovation came from Satoshi as a way to eliminate the third parties who eat up huge volume. With the existence of bitcoin, the intermediaries got removed. Now the centralised exchanges have took over the place. At times this looks like a harm and at times it stands supportive.

With majority of the people there is a common thinking, bitcoin is a form of investment from Satoshi. This isn't the truth, it is developed to be a currency that fulfill the requirements that aren't available with the traditional fiat. So, when we think it as a currency at some point there is need of government support to get positioned.

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Quote from: xanto on November 30, 2022, 12:35:18 PM

What do you think will be the fate of bitcoin in the future?

Looking at the current adoption of Brazil to bitcoin as a mode of payment, I think more and more countries will recognize it as an alternative mode of payment. There may be some issues on accepting it as legal tender but I think we can settle on Bitcoin as an alternative payment. Regulation on the centralized companies that take advantage of Bitcoin may be tightened and the taxation on profit from Bitcoin will be implemented as well. The government will be divided into those who accept Bitcoin and those who banned it but eventually, I believe people around the world will acknowledge Bitcoin in its usage as currency and will long for its frictionless transfers that do not require any help from the financial institutions.

South Park

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Quote from: xanto on November 30, 2022, 12:35:18 PM

Hello all,my friends. I think it's time to hear the opinion of the whole forum on this topic. Look what way bitcoin has gone from the beginning of its creation and to the present time. It has gone through everything: the fall, the rise, the hype, the huge theft, disappearing exchanges. But it still holds on and lives. And it holds on you and me as well. And it will live on.
I started reading this forum, when I was a student, and I read Satoshi's last post, but I decided to invest only some years later.
It's a great tool that gives you freedom, and everybody needs it.
But lately they little by little deprive us of this freedom, introducing passport photo, face and whatever else they want at registration on exchanges.
In my opinion, this contradicts all the principles that Satoshi promoted.
Bitcoin should be a tool of freedom and no state should control it.
They want to tax it and they want to control everything and they won't allow money to flow out of their economy.
It pains me that this is coming, but no one can do anything about it.
So I want to ask your opinion.

What do you think will be the fate of bitcoin in the future?

Bitcoin is still free, the ones that are being forced to do all of those changes are exchanges, and if you do not agree with the way they do things then the solution is obvious you need to stay away from all exchanges which have decided to compromise with the governments and ask for that information, you can still buy bitcoin without going through KYC policies but you will need to pay a premium for the privilege or you could just do some jobs online and get bitcoin in return.

michellee

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As someone who wants to invest in crypto or bitcoin, you may choose whether to buy bitcoin on a centralized or decentralized exchange. It's about how you can accept everything that's going on, including the government's control over exchanges and how you can find comfort in buying those bitcoins.

The government is indeed trying to impose taxes on exchanges because crypto has now become a business that has the potential to get big profits. Hence, this attracts the government's attention to get taxes from the crypto sector on exchange exchanges. This will continue but we also have a decentralized exchange that doesn't need our data to buy bitcoin so we can use it freely.

Zanab247

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Bitcoin will still remain digital currency in the future for people to continue admiring Bitcoin for not control by the government or politicians in the world, and is free for any government that want to adopt it for their country. There will still be pumping and dumping in the future to allow people to buy bitcoin and hold when the price is low in the market, and sell when the price increase in a way they will be satisfy with the market price at the moment.

Z-tight

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BTC users decide for themselves how they want to trade and use their BTC, either they want to lose their privacy in the process and never get it back, or trade decentrally and keep their privacy while using BTC in the proper way. Only centralized services require personal information about you such as your passport before you can use them, if you do not want a company holding such information about you then do not use them.

Banks work just like these crypto centralized services, because they are centralized themselves, and each and everyone of us uses a bank because we just have to, so using BTC in the same way as our banking service makes no sense, one should want to use BTC because they love the pseudonymity and privacy in it: it makes sense that your banks can probably censor you, but your funds in crypto can't be censored because you are fully private and decentralized; but when you use stable coins or centralized exchanges it is all the same thing.

The problem BTC faces is just government trying to regulate it and their attack on the POW algorithm, and they surely know they will not be successful with that, they just use this propaganda to hinder people from using BTC, but just for the short period.

inthelongrun

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You can still use bitcoin without any interference from private corporations and governments. There are some places where you can buy goods with it. You can use P2P and decentralized exchanges. That's still freedom.

Now if we are talking about living using bitcoin alone, it won't be that easy. Let's hope that all our necessities will be soon available by just using bitcoin.

Although I hate this because I came from a very corrupt nation but generally, governments cannot survive without tax. And some business entities might also prefer regulated currencies. Bitcoin will continue to become more valuable in the years to come but there will be more regulations from governments.

Tony116

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Quote from: Edwardard on November 30, 2022, 01:09:59 PM

Quote from: BlackHatCoiner on November 30, 2022, 12:44:34 PM

That's why you should avoid centralized exchanges, and exchange decentrally. It's cheaper, more private, and requires less effort during registration

Do you know about the transaction fee charged on decentralized exchanges like uniswap for swapping erc-20 tokens during the previous bull market? Because, if you do, you surely wouldnt call it cheaper. Instead, cex like binance is coming up with offers like "zero spot fee trading". So you decide who is more cheaper.
Moreover, cexes are more user friendly than dex (the orderbooks, the flow, etc. etc..). Whatever we say but reality is dex still got a lot of work to do to compete.. [Im not against it though]

This may sound harsh, but it is true, CEX is much more convenient than DEX and the market would be tough to develop without CEX. It can be said that CEX provides all the necessary services and utilities so that we can use them conveniently and also make a profit in this market. Most newbies will look to CEX instead of DEX, DEX for them is pretty complicated and not user-friendly as well as transaction fees are very high and this is what investors complain about the most. We can only hope that the DEX will improve and upgrade in the future to provide us with better options soon.

Topic: The future of Bitcoin - page 4. (Read 1078 times)