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Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.
In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.
If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.
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if you don't spend enough time in Bitcoin, how do you expect to earn well from it, or even explore the system further. This is very necessary for anyone aspiring to make it big in Bitcoin.
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Proof of joined post Telegram username: @Aliu_Solomon Facebook url: http://facebook.com/solkin.solali.1Twitter username: @Aliu_Solomon ETH wallet address: 0x0A9Ffa63E91cD33DDE9d39Ecdc7F927b5c20a21E |
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Having a hardware wallet in this situation would make it quite simple seeing as there's just a pin code required to access it, and one doesn't necessarily need to let anyone know of the fact that one has a hardware wallet, but, maybe leave a text in the will or a letter somewhere informing of the pin code?
You have indeed raised a valid point here, its better to hodl all your Cryptos assets in a hardware with a simple and straight forward password concealed and kept in a will or even in file kept in a secure place, this will prevent the cumbersome means of assessing some online wallets like mew, block chain, coinbase etc. which might be difficult to access by a newbie in cryptosystem. This will really be a very good idea. Maybe you just let the person you will entrust the wallet to know where you keep the hard wallet, and then right the PIN in your will, and some clue statements that even your lawyer may not be aware of unless the person you will entrust the wallet to. You may discuss this with the person ahead of time maybe without full details, but if it is your child, you may be less in with your secrets. |
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This is an interesting look at the problem of conducting a KYC test. Of course, if an ICO is registered in a country where the crypto currency and the ICO is not regulated, what kind of verification can be required to provide confidential information and copies of citizens' passports, if the ICO team members themselves do not pass any verification. This is really meaningless and opens up a lot of opportunities for abuse by such a team. Moreover, the percentage of fraud on the part of ICO teams is just off scale.
Thank you very much for nothing this. Even the ICO project team members cannot even pass KYC, yet they want to impose it on intending investors. |
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Anything mistake people make that keep them in poverty is to keep on complaining about their income being inadequate instead of sourcing for plan B source of income to supplement their major salary. Think big and work big.
Yes. Plan B is very important too. Whatever the income you earn, try to plan your life around it. |
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I'm not taking this whole thing about keeping keys private and protecting the money too seriously. Some of you guys are going too far with the secrecy, not telling anyone that you have cryptocurrencies, keeping your passphrases secret and such. If you live with someone and are running a house with that person, there's no reason not to trust each other. If your wife decides to kill you and get your money she will find a way. If you have reasons not to trust her just get a divorce right away and find someone else.
Thanks very much. You have also point out a very important thing here. Your wife can always find her way round you. So, if you are not safe with her, then maybe you take a decision about it. |
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Finally, the ETF application for Bitcoin got rejected by the SEC. The market has remained the same. No drop in prices or whatsoever. So, why did people over hyped the ETF and almost made it look as if everything will collapse if the ETF is not approved?
There was no ETF approval for Bitcoin in December 2017 when Bitcoin recorded its all time high of $20,000. We should not over give credence to something when there is actually no real reason to. I am sure the experienced Bitcoin investors were never bothered about this ETF of a thing.
I guess we all are wiser now.
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Yes! You need to protect your wallets against any possible theft or hacking. You must protect your private keys and wallet passwords. This is a must for everyone, else your coins will be stolen.
The frequent warnings of ensuring you protect your private keys from anyone seems to have eaten too deep into almost everyone of us in cryptocurrency. Some of us have forgotten certain realities of life and cryptocurrency wallets which I want to warn you about. My warning is mainly targeted at anyone who has a family, or at least, a child. You must leave a means or trace that your family will be able to access your wallets when you are gone. I mean when you are below 6ft. Each one of us will die some day. No one wants to hear this, but it is the absolute truth. If you suddenly die today with your secret keys and passwords unknown to your family, your coins are lost forever. Your crypto wallet is not a regular bank, so no way your family can claim your many crypto wealth online.
Don't be selfish. Your family or wife or children must not suffer when you have so much Bitcoin or other coins trapped in an inaccessible online wallets.
Remember your family and loved ones.
You have a very strong and uneasy decision to make today.
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I am thinking like you. There is nothing but hardwork and dedication will brought you to the highest position because there is no shortcut way how you get success within some days I think.
Yes for sure. There is no shortcut to success. You must work for it. |
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So I basically got fomoed. Towards the end of 2017 I saw how high bitcoin skyrocketed and decided to invest in ripple as a test. Less than one week it went up 3x. This made me more ballsy and I put in 11k total in various other alt coins like ripple, ethos, tron, and cardano. After the crash I lost about half of my value just like that. I am frustrated with the experience and wish I would have just put in 1k or something. I wish I could just not invested and went into what I was doing earlier which was just investing the boring and traditional way. Should I wait and hodl or pull out and do something else?
It is really sad to see you loose your money this way. But it is one of the risks associated with crypto generally. You may read my post here about when deciding on investing in cryptocurrency. A lot of people have made similar mistakes too. NO! Do Not Invest all you have on Bitcoin and Cryptocurrencies |
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The most common mistakes especially made by people who suddenly became wealthy is excessive spending. I know a number of rich people and they all say the same thing: make sure that things you buy will be working for you. Like if you really want to buy an expensive car, make sure it's a rare, vintage model. Something that won't lose value over time. The worst thing you can do is buy a Ferrari that will cost a fortune to maintain and every paint scratch will make a dent in your wallet.
I agree that excessive spending is one of the most common mistakes being made by wealthy people, only I want to add that it extends beyond buying expensive things. I too know some rich people and what I hear from them is that they spend tremendous amounts on health services. I don't mean to offend all the doctors, but some of them are real crooks. They have contracts with health care providers, pharmaceutical companies and drug-stores such as that they are paid if their patient buys a particular medication or pays for this or that service. Seeing a rich person they prescribe very expensive medicines and services that person doesn't need at all just to receive the commissions. Again, I'm not saying that all doctors are the same, but try to avoid this type by all means. Your point is also very valid here. But in such situation between the rich person and the doctor, I think the rich person is almost helpless as he is at that point at the mercy of the doctor, and will medically buy whatever the doctor prescribes and at the place of reference. |
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Honestly speaking, I think there is need for everyone in the cryptocurrency community to analyse this issue of KYC. Is there really need for it? When Satoshi Nakamoto started Bitcoin, did he do anything like KYC? Why are people just being over zealous with this KYC of a thing even when they are not under any pressure to request the information.
It's kind of ridiculous really. People trying to force this type of stuff on people are really missing the point of decentralized cryptocurrency. Sure, some private companies under certain jurisdictions have to follow their own laws. But anything other than doing what's required is quite silly. You have said this very well. I also think it is over zealousness that make some ICOs include KYC in their project and not because they are under certain jurisdictions or laws. |
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#Proof of Authentication
Joined Campaign (Telegram, Blog/Article, Special Bounties)
Bitcointalk Username: Solkinsolali
Telegram Username: @Aliu_Solomon
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Exchange-Traded Fund aka Exchange-Traded Fund (ETF) is a fund that is traded on the stock market.
The United States Securities and Exchange Commission, aka the United States Securities and Exchange Commission (SEC)
ETF = Gold X USD, Gold X Euro, Gold X IDR, Copper, Silver and various other mines and Bitcoin X IDR, Bitcoin X USD, Bitcoin X Euro.
ETF = asset money (gold, copper, silver, Bitcoin)
SEC = United States Stock Exchange
yesterday the American Stock Exchange (SEC) "REFUSED" Bitcoin funds were rotated on an exchange together with gold, copper, and silver. that's why yesterday Bitcoin dropped in price
(please correct me if I'm wrong), what your opinion about this?
I still wonder why people have attached too much significance to this ETF of a thing. Has Bitcoin ever being listed as ETF before now? Has it not been experiencing a steady growth from less than 1 USD in 2009 to even about 20,000 USD even without this ETF of a thing? I think we are just over hyping this ETF of a thing and giving it too much credence. ETF or not, Bitcoin will survive on as it has always been. Period!!! |
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Crypto for sure is meant for those who have a very strong mind and are willing to take a great risk. Everything about crypto is associated with risk. Nothing is ever certain and for you to succeed in it, you must be ready for such risks.
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Bitcoin will definitely help the entire world in globalization. Globalization helps to bring the world closer together. Bitcoin transactions will help to bring the world closer through speed and ease.
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Bitcoin is not a bubble neither is it also too late for you to start investing in it. Anytime you decide to enter the Bitcoin market is right. You will never be the last person to join Bitcoin.
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This is quite informative and helpful too. There really has to be an alternative to coinmarket cap. There seems to be a very high fee when it comes to listing a coin on coinmarket cap. There has to be another means of comparing cryptos.
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