Search content
Sort by

Showing 20 of 286 results by andylowe
Post
Topic
Board Bitcoin Discussion
Re: How do we change the public's view of Crypto world?
by
andylowe
on 01/08/2018, 22:45:23 UTC
Guys we are very much aware how the crypto community through this great forum has helped most of us in terms of our finances but is so heartbreaking that the most of the public views only describes how insecure and unsafe the crypto community is. I do understand that cryptocurrencies are volatile and the issue of anonymity sometimes scares people away but y'all bear with me that if  crypto is explained to you and you really understand it properly you would not make wrong mistakes and get swayed away by panic sales or submit your private key as ethereum wallet address. Is it a public campaign or some other form of tutorial that we should organize to help explain crypto to the world because believe it or not the blockchain technology of cryptocurrencies is being admired by most organizations and some of them have decided to run their operations with the use of blockchain technology. What can we do as a community to help change the public view of Crypto?

The best way to change the public’s view about Bitcoin is to let them see what you have achieved. We cannot control what others think. But we can help others who wanted to learn about Bitcoin  through guiding them what is truly Bitcoin or Crypto. Currently scam incidents makes crypto reputation is at stake.
Post
Topic
Board Altcoin Discussion
Re: What do you think of the cryptocurrency 3 years later?
by
andylowe
on 01/08/2018, 21:17:04 UTC
Three years later, what will be the mainstream cryptocurrency and market conditions?BTCBTCBTC
What I am sure is in 3 years time,  the number of countries who regulates crypto will increase in number.  I think this is needed to minimize fraud issues that may ruin the crypto's integrity.  I don't think we can predict the  market performance.
Post
Topic
Board Bitcoin Discussion
Re: Bitcoin grows everyday through Shared knowledge
by
andylowe
on 01/08/2018, 08:10:40 UTC
I came across a quote made by someone on this forum which goes like,'An open mind is one of the best assets when it come to cryptocurrency'.
 This quote got me thinking, to make bitcoin (cryptocurrency) grow everyday in relation to clearing all misconceptions people have, we need to share our little knowledge about bitcoin on this forum. Sharing of  knowledge will create an atmosphere for people to be open minded and also help newbie investors to understand the crypto world and the market. I realized there is quite a great number of very helpful people and resources on this forum.
 What do you guys think? Do you agree with me?

Sharing our crypto knowledge to others would encourage them to try crypto. This will give them the impression that people are opening their help to newbies. When we are new, we are usually hesitant in executing a certain action because we might fail. So, sharing knowledge will motivate and help boost the confidence of the newbies.

 
Post
Topic
Board Economics
Re: Is the government really scary?
by
andylowe
on 31/07/2018, 12:45:31 UTC
Many people say the government is not interested in cryptocurrency. Many people think the government has prohibit
crypto to protect investors from risks. Maybe in your country, that's true. But in some countries, especially developing countries, the government just wants to rob your assets. They rob publicly, lawfully and as much as possible. they are really bandits.I'm not afraid what they do. Because we have many ways to fight them. But this world is not as simple as you think.They can kill you if you are demonstrating.
You can ask any vietnamese that : Do you support your government ? I bet 99% answer is never. 1% remaining I'm sure they are goverment employee or their family. Wink

I am not an avid supporter of the current government nor against on it.  Currently my country doesn't have an issue on stealing your asset or crypto asset by the government.  I think that will happened if you do not secure your private keys well. Crypto isn't  regulated in our country yet but it's use are not restricted either.  So I think yours is an isolated case.
Post
Topic
Board Altcoin Discussion
Re: What coin do I need to invest in
by
andylowe
on 31/07/2018, 01:44:07 UTC
Please I want to invest in some coin but it seems that the market are red which coin should I buy now

If you are new to the crypto world, I would suggest to make a study first before getting involve in investing. I would suggest you start investing with ETH and BTC depending on your available resources. These are the promising coins and I am confident that this will rise. However, timing is the key to before buying to maximize profit.
Post
Topic
Board Speculation
Re: Bitcoin bouncing back.
by
andylowe
on 30/07/2018, 12:57:18 UTC
So I have been reading tweets and other media outlets which are predicting that the BTC will have a huge surge by December. Have anyone come across this and I don't know if I should be excited or that's another bubble waiting to be needle pricked.

The price indeed is recovering. Some says it will increase by the end of the year.  However,  predictions are not that accurate.  But of course would be glad if it the price would really increase. Let us just all hope the demand will increase by the end of the year.
Post
Topic
Board Economics
Re: Cryptocurrency is a trending topic all over the world?
by
andylowe
on 30/07/2018, 10:51:51 UTC
Everywhere you can find cryptocurrency topic especially ICO projects are doing well on the marketing through social media like facebook, twitter, reddit, linked, youtube and etc. Celebrities, influential individuals and high ranking government officials are talking about cryptocurrency and that is why i think cryptocurrency is a trending topic all over the world. Do you agree with me? Even haters help cryptocurrency to be known all over the world so let just leave the haters then.

Positive or negative publicity is still publicity.  Bitcoin has been the talked of the town because there are a new opportunities offered.  People are working hard to earn for a living because cost of living is increasing or we want to cope up with inflation.  People  look on different ways to earn extra income.  There are many speculations against Bitcoin,  but,  i think we don't  need to focus on that.  Instead strengthening our knowledge is the key so that we will noy be shaken when there are negative news against Bitcoin.
Post
Topic
Board Economics
Re: I almost lost my rock solid regular job because of crypto
by
andylowe
on 28/07/2018, 13:33:55 UTC
Like the title says, i almost lost my regular job as a software developer today when my boss reviewed my work. The job has been able to economically provide a comfortable life for me and losing it would really be a big hit to my income. I almost lost it because i spent so much time learning about everything crypto (mining, trading, bounties, etc.).

Has anyone else experienced this? I just feel pretty lucky I was given another chance and want to remind other people that having a regular job is much better than relying on the volatility of cryptocurrencies. Make sure you prioritize your work!

It would be tough on your part to do your responsibilities at work while you are very eager to learn crypto.  Time management plays a good role on your situation. Since we have a limited time,  you should divide your time to smoothly execute your deliverables at work and learn about crypto.
Post
Topic
Board Altcoin Discussion
Re: Learn from your mistakes
by
andylowe
on 28/07/2018, 05:32:59 UTC
Every mistake has its lessons. When you make a mistake, there are three things you should do: admit it, learn from it and do not repeat it.
Ever since i had been in this space, i have only been used to bitcoin, ethereum, NEO, waves, tokens that use their platform and some other very common coins, but just this week was my first time of transacting fully on XLM platform.
I got a token that uses the platform of Stellar (XLM) and i was able to trade the token into XLM on their decentralized exchange.
My mistake came in when i was about to transfer the XLM, to be traded into BTC on another exchange.
I thought the process of transfer would be the one i had been used to, not knowing that i was supposed to include a "MEMO".
I eventually transferred it, waited for hour, but found nothing.
I was bothered.
It was in that process i got to know that memo was to be included. That was my mistake.
I admitted i had made the mistake.
The lesson i learnt is to always study every thing first (both new and old, because old things can still change), before jumping into it.
This mistake i have made up my mind to never repeat again.

I AM SHARING THIS FOR YOU TO LEARN FROM MY MISTAKES AND FROM YOURS.

Thanks for your audience.

It is normal to commit mistakes but it is important to take note on out faults. For us not to do it the next time around and to ensure gains. In crypto, we will experience losses if we will continue with our mistakes.   

 
Post
Topic
Board Economics
Re: When will smartphones used for bitcoin mining?
by
andylowe
on 27/07/2018, 15:11:23 UTC
As we all know that smartphones are just like computer nowadays that has strong storage capacity and processor. This I think could be enable to mine bitcoin and this is what I am waiting for if there are any smartphones company that would offer their smartphones for bitcoin mining or even as a smartphone that works as digital hardware wallet for bitcoin and other crypto. I am waiting for it to happen. Do you think that it will happen?

I am open to the continuous improvement of technology but I believe that would be too much for a mobile phone to be capable of mining. It would be costly and you cannot maximize the other features of your phone because you are after with mining.
Post
Topic
Board Economics
Re: Tax on the crypto currency! What do you think?
by
andylowe
on 25/07/2018, 22:14:38 UTC
There are several tax options today, and all of them can be applied to crypto-currencies, depending on how the latter are defined in the state. Most often, the following taxes are introduced:
  • Value Added Tax (VAT). It can be levied by trade operations made with the help of crypto currency as a means of payment, as well as currency exchange. Basically - the exchange of crypto currency for fiat money, but in theory VAT can be levied on the exchange of crypto currency between each other. It operates mainly in those countries where crypto-currencies are recognized as a payment instrument, for example, in Japan. When buying goods and services for cryptocurrensies, VAT will also have to be paid to the residents of the UK, but they can exchange the crypto-currencies for fiat without paying VAT.
  • Tax on goods and services. A kind of analogue of VAT for those countries that have recognized crypto-currencies are not a means of payment, but a commodity. Acts on the same principle as VAT. Only in the case of VAT, the taxpayer is in fact a buyer, and in the case of a tax on goods and services, a supplier of goods and services, in this case a holder of a crypto currency. He has been working in Singapore for several years. At the beginning of this year, a similar system was adopted by Israel with respect to the mining, which was equated with the production of goods.
  • Personal income tax. Personal incomes in crypto-currencies are taxed, for example, the salary paid by the employer in bitcoins. Implemented, for example, in the US.
  • Profits tax. They are subject to any companies that make a profit. Also, they are subject to profits earned as a result of trading on the exchange and the performance of other currency transactions. In the cryptosphere, this system is used specifically to tax the crypto traders and various crypto-currency organizations (from the exchange of crypto-currencies to the pools for mining). Mining may also be subject to profit tax. In the US, for example, take into account the profit from crypto-activity in the tax declaration will have to be traders and miners, and all people who somehow earn on crypto-currencies as a result of speculation. The same tax is levied on all crypto-currency transactions made by legal entities in Australia and Japan.
  • Capital gains tax. They are subject to income of individuals and legal entities obtained as a result of investing in shares, bonds, securities, valuable assets and so on. In the cryptosphere, it starts acting as soon as the crypto-currencies are equated to valuable assets. Not only investors fall in, but all holders are also crypto currency. This system is implemented in the US, where it matters how long the holders of crypto currency keep them and in what quantity. He also works in Australia, Brazil, Canada and in many EU countries - Bulgaria, Finland, Germany, Spain and others.
  • Property tax. For the cryptosphere, it becomes important when the crypto-currencies are recognized as property, a valuable asset that is owned. As soon as such an amendment is made, the holder of the crypto currency is required to notify the tax service of all transactions concluded with this asset. Such an amendment was introduced in the US tax legislation, where the crypto-currencies in this case are presented as a valuable asset, and in Australia, where they are recognized as property.
What do you think about the taxation of cryptocurrencies? Which model fits best?

If tax will be imposed,  it is appropriate to be included  under profit tax.  For now,  we don't know yet what will be the plans of our government. I believe that along with the imposed regulations is tax. I am against additional tax because tax in my country is too much. However,  we need to do what is our responsibility to pay taxes.
Post
Topic
Board Altcoin Discussion
Re: Unemployment and wrong educational orientation.
by
andylowe
on 25/07/2018, 20:50:17 UTC
Every parent expectations are that their son or daughter will be working in a big office after graduating from tertiary. So now the idea is that after tertiary, one must be in the office. So reality dawn on them after school when there are no such jobs and they are frustrated and dissatisfied. What is wrong with them doing something else?
There are a lot of factors of unemployment.  It can be the poor quality education or the lack of specialization which makes the person not qualified for position.  The government has something to do with this to align the curriculum to the needs of the industry.  Another factor is the lack of  determination.  We always need to do everything to get a job because finding a job is not easy.
Post
Topic
Board Bitcoin Discussion
Re: Is the existence of bitcoins a threat to jobs and national currencies?
by
andylowe
on 25/07/2018, 20:13:43 UTC
We all know how powerful bitcoins are especially in financial terms. Having one makes you feel like a newly-crowned king ready for his throne and lux. Its value and essence is something that we cannot just ignore, resulting for some people relying on these 'God-given grace' instead of working hard and gaining the money that their own country uses. Some thought that it would be better off to have bitcoins and convert it into any kind of currency rather than to get a job and earn some thing. What do you think? Will bitcoin be able to eclipse the existence of national currencies in the near future?
 
I don't  think it is a threat for the regular jobs.  In fact it aids to reduce the unemployment rate. Crypto earnings ate able to help to sustain the expenses.  Which means it is considered as an alternate or can be  extra income. 
Post
Topic
Board Economics
Re: Wise thing to do with your savings.
by
andylowe
on 25/07/2018, 11:53:18 UTC
I see that many of you actually liked the concept of 20 % method wherein you allot 20% of your earnings to be saved as emergency fund.
So I was thinking, if that 20% allotted will be invested in a time deposit kind of account, will it still be possible to earn as much or invest it in cryptocurrency? Or maybe just let the money sleep until such time you will need it?
What will be a wise kove to do with the noney you have saved up?
The idea of allocating savings from  20% of your income is good.  But savings for emergency use or emergency fund is at least thrice our monthly expenses.  Beyond the computed emergency funds is  we can allocate it to investments.  Diversifying investment is the best thing to be done to ensure profit. We may invest in real estate,  stocks and crypto.  Depending on what degree of risk we are ready to take.
Post
Topic
Board Economics
Re: Crypto replacing fiat?
by
andylowe
on 25/07/2018, 04:59:10 UTC
Lets say crypto completely and utterly replaced fiat. Fiats don't exist anymore. All governments have seen the advantage of using digital currency and have completely changed their fiat into crypto, like dollar to dollar token(obviously not tether). How viable is this? For example anyone can see how much I am holding using the public ledger and track me down and force me into sending them the cryptos I hold. I wanna discuss in reality if cryptos actually replace fiat how life will be and what are the problems we are gonna face and the immediate effects of it.   

I have faith in crypto but I am not sure if it can replace fiat. Crypto would be an issue because of its volatility. Aside from that, I don’t think government will adopt crypto. The government always wanted to be in control while crypto is designed to be decentralized.
Post
Topic
Board Speculation
Re: Bitcoin is dead many times!
by
andylowe
on 24/07/2018, 23:28:29 UTC
I read so many threads about warnings on bitcoin possibility that it will end. Well i do not believe on them instead i buy more bitcoins and other establish crypto since this the good time to get huge profit in the near future. Well if it will end then i have no worries because this is investment and part of it is the risk. All investments are having risk and if you take the risk it will end either earning good profit or a loss of money.

I don’t believe in the statement, because still continue to hold. This is just a part of the price’s fluctuation. And it doesn’t mean that it will totally be eliminated from the market.   
Post
Topic
Board Bitcoin Discussion
Re: Crypto is For Risk Takers
by
andylowe
on 24/07/2018, 14:32:43 UTC
I seen lots of people are panic and selling and spreading FUD . But based on my experience people who really dare to take risk only won here .
Wise and daring investors are still searching for good potential coins to invest while its really cheap were greedy people are panic and spreading FUD
Finally people who dare to invest bitcoin even when the price of 100$ they created fortune here . Its completely daring and vision not at aall luck . SO if you are having real vision and want to make milestone in life then be here in crypto and support other wise please quit .
Crypto is indeed for risk takers and less emotional investors  If you can't take the degree of risk,  then better not engage in crypto because you might end up losing.  Being emotional always lead to losing the money because you forgot from being logical.  So the tendency is a decisions are made without making a thorough assessment of the scenario.
Post
Topic
Board Altcoin Discussion
Re: Cryptocurrency is gradually spreading
by
andylowe
on 24/07/2018, 13:58:33 UTC
I think so many people are now getting to know about this great technology. Crypto is gradually being know by almost everyone. Some are beginning to know the importance of crypto. The challenge they may have is how to benefit from it.
People are curious at first and later on attracted with the technology.  Especially that we are in the digital world. As much as possible we all wanted to earn while we are at home. With crypto we can do trading,  we can invest and we can do bounties at home in our convenient time.
Post
Topic
Board Bitcoin Discussion
Re: Asking stores do they accept bitcoin
by
andylowe
on 24/07/2018, 13:06:17 UTC
How many times have you came in a store and asked whether or not they accept bitcoin when you wanted to pay?

Should we do that EACH time we visit ANY store?
Would we create a huge advertisement for BTC that way?

Would stores start accepting it when they encounter a couple of people on a weekly basis asking them if they accept bitcoin?

Should we start doing this? o.o
Should we create a community so hard core that asks for everything they pay if it could be handled in BTC?
If we want to us Bitcoin for our purchase,  then I would not hesitant to ask a specific store if they accept Bitcoin as payment.  But usually,  establishment have a special announcement near the cashier or at the entrance if they accept Bitcoin. I haven't seen yet an establishment yet in my country but I am looking forward that this will happened.
Post
Topic
Board Economics
Re: Success of an investment may not be true to all?
by
andylowe
on 24/07/2018, 12:22:44 UTC
We cannot really provide the best solution for our investment; however, it is enough to earn a profit and say " Yes my investment really is successful" and refer to other people.

I think not all of us make a better decision especially when we talk about money matters. The pressure "risk" and the financial concerns, as well as the existing problem, may alter the decisions that we have. Thus, we can`t forecast success on investment by merely having profit because it might end up to another bunch of investors to be trapped in an investment and eventually want a scapegoat even if the outcome would be a loss. Significantly, it will give discouragement to the other potential investors.

Thus, we should not be more confident about what we get because some people may not find the fit and would result in a greater impact of discouragement as a whole. In addition, even when the intention is good, but if the person lack of courage, patience, and aspiration then it would create a mistake; and a mistake of one individual may lead to an overall conclusive distraction.


This is one of the reason that in investing,  we should always consider the probability of loss. Most of the time we only looked at the gains. This means that we might not have the same fate as the others.  But we will never know unless we try.