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Showing 12 of 12 results by planet-crypto
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Board Bitcoin Discussion
Re: Which industries will get disrupted by Decentralized Blockchain Technology?
by
planet-crypto
on 30/05/2019, 19:02:36 UTC
Which industries do you think will get disrupted by Decentralized Blockchain Technology the most? In terms of real world use case applications of Decentralized Blockchain Technology, which ones would you say will have the greatest positive impact in the world.

Any data intensive sector can be disrupted by blockchain. It doesn't only include Banking. Banking is the one sector that can be revamped by blockchain, but there are other data intensive secrors like, government records especially land and finance can get an overhaul by blockchain.

There are sectors like supply chain which has a huge potential of using blockchain to get the best out of it. You can read the below article to get more insight,

https://medium.com/bitfwd/top-5-most-compelling-use-cases-for-blockchain-technology-d198e500e3d3

Even though this article doesn't cover everything, but still a good read!

Thanks for sharing the link, its helpful!
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Board Bitcoin Discussion
Merits 1 from 1 user
Re: Which industries will get disrupted by Decentralized Blockchain Technology?
by
planet-crypto
on 28/05/2019, 18:33:13 UTC
⭐ Merited by pooya87 (1)
Which industries do you think will get disrupted by Decentralized Blockchain Technology the most? In terms of real world use case applications of Decentralized Blockchain Technology, which ones would you say will have the greatest positive impact in the world.

Banking
Government

Banks are for those who cannot be their own bank (bitcoin already solved this)
Government is for those who cannot govern themselves, laws are for the obedience of fools.

The next few things will be

Courts, Internet, Inventory, Supplies, Patents, Filesharing, Anticheats, AI, Databases... Etc trying to make a list for them here.
https://bitcointalk.org/index.php?topic=5141142.0

Banking and other Financial Institution will be the biggest followed by Government. That is the reason every day mainstream Financial media is trying to create FUD in Crypto Universe and circulating Fake News. The amount of money these guys have invested to create a chaos is huge. Government on the other hand are trying their level best to BAN cryptocurrency or are trying to control them by issuing regulatory measures.

Government Regulation is not necessarily a bad thing though, in fact, in order for cryptocurrency space to come to fruition, in my opinion, Government regulation is required. What I mean by government regulation is the enforcement to prevent money laundering, tax evasion, and elimination of cryptocurrencies in the black market for various illegal activities. All these things can and should be regulated by the Government. Obviously a blanket bank on crypto's by the Government shows their own ignorance but not all Governments are of this position. Some governments have started to partner with particular Cryptocurrencies (see Cardano for example) for a better future for the public.

Banks would definately get hit but they will use crypto for their own benefit under the guise of Blockchain. Eventually, I also think that banks will have to admit defeat.

I am particularly interested in what industries within the business sector you think will get disrupted the most?.
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Board Bitcoin Discussion
Topic OP
Has Bitcoin ever experienced a 51% attack?
by
planet-crypto
on 28/05/2019, 18:23:36 UTC
My questions are regarding the level of security endowed within Bitcoin.
Has there ever been a 51% on Bitcoin's network? I understand that as more miners enter the network, the greater the hash rate meaning the more difficult it is to perform an attack. This also means that it was much easier to perform the attack during the early years of Bitcoin, that's when it was most vulnerable. Was there any attack in the early years of Bitcoin and how much would it cost now to perform a 51% attack?
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Board Bitcoin Discussion
Topic OP
Which industries will get disrupted by Decentralized Blockchain Technology?
by
planet-crypto
on 28/05/2019, 16:30:51 UTC
Which industries do you think will get disrupted by Decentralized Blockchain Technology the most? In terms of real world use case applications of Decentralized Blockchain Technology, which ones would you say will have the greatest positive impact in the world.
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Topic
Board Politics & Society
Re: Is Inflation a Hidden Tax on the Public by the Government?
by
planet-crypto
on 28/05/2019, 16:24:19 UTC
Inflation is bad, but it is an necessary evil in order to keep economies going at a reasonable pace. I am talking about low/mild inflation, Venezuela level, or even high level inflation is very bad and should be avoided at all costs.

The alternative to inflation is deflation, that is when prices of goods and services fall over time. This sounds good, but it creates a spiral effect of ever decreasing prices and economic contraction. For example, with deflation, if a refrigerator costs $2,000 today, and is estimated to cost $1975 in six months, and $1950 in a year, if your refrigerator is old, and should be replaced soon, and you can afford to replace it today, you will wait as long as you can to replace it so you can save the $25 or $50. The delayed purchase means less work for the people in the refrigerator factory, and for the refrigerator salesmen. The decreased amount of work will often exceed the amount of savings a customer would realize by delaying his purchase. This means in addition to delaying purchases due to anticipated future price declines, those in the refrigerator industry will spend even less to be additionally frugal out of necessity.

When an economy sees deflation, all goods and services as a whole see declining prices, so the above example would be expanded into the entire economy.



Thats exactly what the problem is though, it is a necessary evil in an unnecessary system. Being as close to the actual reserves is a better alternative, and our best shot at that seems to arise from a proper use of Decentralized Blockchain Technology which aims to eradicate the current unnecessary system all together by eliminating the need for trusted third parties which includes Central Banks which effectively eliminates their control over the money supply and by extension, Inflation.
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Board Politics & Society
Re: Is Inflation a Hidden Tax on the Public by the Government?
by
planet-crypto
on 28/05/2019, 16:07:38 UTC
Exactly. This is why it pisses me off so much to see crypto turned into another casino economy. The value of a valid method of transaction with a set monetary base is infinitely valuable, but people are more interested in LAMBO LAMBO LAMBO! Just stop and think for a minute how much human effort, suffering, and lives have been wasted in order to earn currency that is constantly on fire and losing its value. The Federal Reserve prints more money, as a result its buying power drops, then employers need to pay more to keep up with inflation and cost of living, then according to the IRS you are now "making more money" and they need to tax you even more! This is the first time in human history we have had the true ability for an independent stable based method of exchange. In the world of economics this is basically equivalent to the invention of the wheel in its importance.

I agree with you, try not to get too frustrated though, remember that the evolutionary PROCESS is often ugly but the final product is always more beautiful. Likewise, we are currently going through a transitionary phase between the old and the new system, and such hurdles are to be expected.
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Board Bitcoin Discussion
Re: The Money Illusion
by
planet-crypto
on 27/05/2019, 22:47:28 UTC


Wow! This is actually an eye-opener video on money, currency and the big lie that in the past and into the present being sold into the people. The real money is always gold and silver as all fiat monies in the past not one ever survived. As many governments all over the world are now prone to solved their problems by printing more and more paper money, inflation is eating up the purchasing power of the people. As the money in circulation increases, the lesser the people get. Now, am thinking how can this be connected to bitcoin. Well, bitcoin is now considered to be the digital gold and just like bitcoin it is essentially limited and can function as money and as store of value.

After considerable research into this topic, we have reached similar conclusions, but not identical. Remember that money by definition is "a medium of exchange". This means, anything that becomes a medium of exchange is by definition money, and we have seen historically, the evolution of money from Wheat (Commodity), to Gold/Silver/ to Fiat, and now we are on the cusp of et another evolution of money, cryptocurrencies. Since Bitcoin, for example, is being used as a medium of exchange across multiple platforms, it is by definition money.

If you find this interesting, I'm sure you'll like this video I uploaded covering these topics. It is intended for Hindi/Urdu speaking members though.

Title: This is the REASON why Bitcoin is MONEY (for Hindi/Urdu)
Link: https://www.youtube.com/watch?v=iEnC-qVyG0Q
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Board Politics & Society
Merits 2 from 2 users
Topic OP
Is Inflation a Hidden Tax on the Public by the Government?
by
planet-crypto
on 27/05/2019, 22:30:49 UTC
⭐ Merited by OgNasty (1) ,LoyceV (1)
After conducting considerable research (secondary) into the workings of our current global financial system, it is becoming evidently clear that inflation is effectively a form of hidden tax on the public. The relationship between the Government, Central Banks, and Banks effectively increases the money supply of the economy which directly leads to price increases but, the price increase itself is nothing more than a reflection of a decrease in the purchasing power of the currency from the increase in the money supply in the first place. Which means, by borrowing money from Central Banks, the Government is actually taxing the public without their notice.

I have uploaded a video explaining the concept in detail for Hindi/Urdu speaking members, you can refer to the link below to learn more, I actually connect the concept with Cryptocurrencies, more notably, with Bitcoin. So if you're interested in the Cryptocurrency space, you'll definitely find it interesting.

Video Title: This is why Inflation is a Hidden Tax! (for Hindi/Urdu) 2019
Link:  https://www.youtube.com/watch?v=UfdfTtId5qA

I'm curious to know If you think I am on the right track or not.

Do you think that inflation is a form of hidden tax?
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Topic
Board Bitcoin Discussion
Re: Best source for learning about bitcoin in hindi/urdu
by
planet-crypto
on 20/04/2019, 14:20:37 UTC
Language and dialect are the most common problem in misunderstanding here in crypto industry. We need to learn on how understand and how to read other language because it is your advantage. For me it is not practical use an google transalator becauase it translate the sentence word by word. So it is good that we have that site for reference.

Agreed =)
It might be common but not a big deal anymore as technology innovates from time to time and we can have translation first hand. What should matter is the willingness of the individual to learn new things and initiate it.

The willingness to learn will be triggered by the removal of misunderstandings associated with bitcoin, and one of the top of reasons for the misunderstandings is due to language barrier. Greater attention needs to be paid to translating blockchain technology content into various languages at a professional level.

With reference to gaining a fundamental understanding of  bitcoin, Language Barrier is one element which is often over-looked.
Can you recommend a non video material like articles that people can comfortably read? I mean some wants to read instead of watching.

I'm glad you asked, currently I am not aware of any top quality source for information on Bitcoin and cryptocurrencies in Hindi/Urdu. By top quality I mean purely unbiased and objectives especially regarding a thorough understanding of the whitepaper. Instead of learning about bitcoin from other people's perspective like media which have bias, individuals should try to understand bitcoin from the perspective of the inventor of bitcoin, Satoshi Nakamoto, through the whitepaper, this is as pure as it can get. This is exactly the purpose of this video: https://www.youtube.com/watch?v=VmusvimRKWk

Back to your question of reading material, Unfortunately nothing comes to mind at the moment but hopefully in the near future!
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Board Bitcoin Discussion
Re: Bitcoin transactions aren't reversible... I'm confuse
by
planet-crypto
on 20/04/2019, 07:06:24 UTC
Bitcoin transactions are irreversible.

This basically means that you can't take back the same bitcoin you send to someone unless they themselves send it back to you.

This is there to stop fraud from taking place because in bitcoin's system there is no need for a trusted third party. For example, if you go to a store and buy something with bitcoin, you can't reverse the transaction after you leave the store.

Remember that the best way to understand Bitcoin is through its Whitepaper.

Bitcoin's Whitepaper published by Satoshi Nakamoto in 2008 is fundamental to understanding bitcoin and blockchain technology. If you want to learn about bitcoin in simple terms and understand the bitcoin whitepaper in urdu/eng, This is one of the best sources:

https://www.youtube.com/watch?v=VmusvimRKWk


Hope it helps!
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Board Bitcoin Discussion
Topic OP
Best source for learning about bitcoin in hindi/urdu
by
planet-crypto
on 20/04/2019, 06:56:43 UTC
With reference to gaining a fundamental understanding of  bitcoin, Language Barrier is one element which is often over-looked.

Bitcoin's Whitepaper published by Satoshi Nakamoto in 2008 is fundamental to understanding bitcoin and blockchain technology.

If you want to learn about bitcoin in simple terms and understand the bitcoin whitepaper in urdu/eng, This is one of the best sources:

https://www.youtube.com/watch?v=VmusvimRKWk


Check it out and let me know what you think!
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Topic
Board Bitcoin Discussion
Re: TOP suggestions for someone who's thinking of buying BTC?
by
planet-crypto
on 20/04/2019, 06:48:04 UTC
Best thing is to inform yourself about bitcoin as much as possible before actually investing.

Bitcoin's Whitepaper published by Satoshi Nakamoto in 2008 is fundamental to understanding bitcoin and blockchain technology. If you want to learn about bitcoin in simple terms and understand the bitcoin whitepaper in urdu/eng, This is one of the best sources:

https://www.youtube.com/watch?v=VmusvimRKWk


Hope it helps!