I don't agree with this bill. I mean it is like saying that contributing to the security of the Bitcoin network is not a worthy business to use carbon-based power sources, while other businesses like plastic fabrics, transportation firms or retail stores are acceptable... I thought USA was a country focusing on innovation and the spirit of freedom.

I'm not saying that using renewables energy sources shouldn't be enforced (IT SHOULD!), but for all businesses gradually, not just to some isolated niches. Leaders of the world need to find the balance between economic development, defense and environment protection. I won't say that I know which one of these needs to be prioritized, but the ones in charge need to find a fine balance between these three WITH the future generations in mind. What's the meaning if we have high living standards if the world as we know it will be evaporated in 50 years due to climate change?

Exactly, leave the pin pointing for professionals. Even they mess up a lot of the time. If it was easy to find out the area where an asset would bottom or top everybody would do it. It is not like trading is some secret dark magic, but it requires a lot of dedication and committment to building specific skills. That doesn't come over night, it requires sacrifice and I'd say passion for the markets.

Insignificant if you use lightning network. Solutions will be found, but day-to-day transactions is not our biggest problem right now, isn't it?
Governments around the world through their policies are basically taking 10-20% off our income on top of the other taxes due to inflation. That's just the tip of the iceberg though. The centralized financial system is intrinsically broken. I mean it is better than nothing, don't get me wrong, but we have the perfect candidate of a global mainstream currency and store of value that could solve a lot of problems and inequalities.

I wouldn't say someone is a good trader unless he has been profitable for at least 6-12 months if day-trading and 1-2 years if swing trading. It is also important to assess what assets and market environments he has navigated . As you will find out trading stocks is totally different endeavour than trading FX or crypto. Each has its own intricacies and drivers, especially if you're also looking at fundamentals and not just technical indicators. But anyways markets move at different paces and a good is either limiting himself to what he does best or he has a wide skill set and toolbox.

I agree and it is also psychologically hard to adopt a change that will fundamentally change the way people store value and perform payments.
You see.. humans have anxiety systems that ideally should help them identify danger. Changing the financial system from its foundation is indeed  something that provokes a lot of thoughts. But that is not a bad thing. it just means we need to take our time and not hurry when making important decisions.

First of all I think if we do indeed make the transition to a 'cashless society' certain safeguards for privacy will be put in place. But indeed it would be a real hit to privacy. Unless they come up with a really smart system that encrypts data and only a part of the data is publicly available while the rest needs let's say the private key of the individual, but that becomes complicated if authorities need to investigate a criminal case.

I'm sure CBDCs are not going to be the single asset in existence so bartering would still be available.

A decentralized currency like Bitcoin would be the way to go. I would go even further and say that a mix between a stablecoin (maybe backed by Bitcoin) would be the best way for our global financial system.

I think most people miss something that is invaluable when making decisions which is the cost of opportunty, implicitly time and mental resources.
So adding to your conclusion @Inspiron14: "When we are careless the consequence we have to accept is losing money, time and mental resources."

That is why planning is very important in pretty much everything we do. Many think that it is boring and everything should be done spontaneous. While spontaneity certainly has its time and place, planning can save us so many resources that you can't argue against it. I mean there are people who "bury" themselves in monotonous tasks for so long that it becomes so hard for them to make and adhere to another plan. But that is also due to a lack of initial planning.

So plan what you're going to do carefully and tediously. You're not going to regret it. Maybe you have money problems -->  ask yourself what can I do to get out of the "hole"? What are your options right now? What and how are you going to do? etc."

I don't think that any of this actually works. I mean even if you know when to buy, you still have to figure out when are you going to sell.
Let me decompose your statements for you:

1) Ok, you buy in the afternoon, but we're in a bear market. Next month Bitcoin is down 25% from where you bought.
2) Same as first.
3) This is non-sense. The fact that an asset is traded more during weekdays does not correlate in any shape or form with its increase in price. In other words --> trading activity <> buying activity. See the first 2 points.
4) Believe me, money coming from paychecks is nothing compared to the trading activity of institutional investors (of the so-called 'whales' essentially). Even if the fact that people make most of their Bitcoin investments on paydays the impact on the market would be insignificant is what I'm saying.

I'd say that the best way to find buyers who deal in Bitcoin is through local Bitcoin/crypto focused groups. Be careful about the laws in your country. As far as I know the sales of items above a certain value need to be formally closed with documents as proof (bill, contract, etc.). That might also be in your benefit as in case of a control from the fiscal agency you generally need to prove income (this mostly applies if you're doing a lot of transactions)

Yes, this is something similar to the law of diminishing returns. I like to refer to Bitcoin's market cap in comparison to other assets in order to assess the potential in the medium to long-term. I like comparing with Gold's market cap as it is the most similar asset in terms of its use, but yet so different in its properties.

Gold = $11.5 trillion dollars
Bitcoin = $405 billion dollars

Doing the math Bitcoin could still multiply 28 times from current price just to match Gold's market cap. Not bad at all if you ask me.
$20k x 28 = $560,000

As you said Lucius, 50 times is a little bit out of the range, but anything can happened with this inflation.

For sure you heard this before, but I'll try to put it in another way. If you can't find a job that's probably because a lack of skills that are in demand. So you might wanna address that before "wanting to get some crypto". This is not hate, I'm just trying to smooth your way towards a better financial situation. Investing in crypto or getting some free crypto won't ever bring you the returns that education will. So get out there and upgrade yourself with some hard and soft skills.

I can understand the pressure of providing for your family, but I don't think you cannot find a job in retail maybe as a cashier or an entry-level sales consultant. You could also just ask around to see if there are any chores you can do for people in your neighbourhood if that's the only option remained.

From my and probably most of my colleagues' perspective this is the obvious move the world needs to make towards a better future. The world has flourished while banknotes were properly backed up by Gold. The turmoil began when they started leveraging the Gold reserves at unsustainable ratios.

Hopefully now that we're living in a digital world transparency will give us the signal if any government is going overboard with their reserves. (I'm supposing this in the event Bitcoin is held only as a national reserve and CBDCs or fiat currencies will continue to be used as 'transactional currency').

I think it is a good marketing idea to associate one's business with reputable authorities in certain niches.

Personally, I feel more safe to use a casino if it has a successful collaboration with one of the bigger thought leaders on this forum. I'm not referring necessarily to bounty managers, but a good quality and well managed campaign can certainly make a difference. The casino quality needs to match the "ambassadors" though. You can't hide the crocodile behind the bush. Also a reputable bounty manager won't usually take on work unless it meets certain standards.

I'm quite impressed that a Conservative member of the parliament has liberal views on cryptocurrencies. This is how things should be governed all around the world.

There are times when Conservatism is good and times when Liberalism should be applied. That is why we need our political leaders to have both views in perspective.

There are endless free resources on the internet. Though if you want the "fast pace" you need to find yourself a mentor, one that has a proven track record. I want to emphasize this because there are lots of posers out there who mainly make their income out of marketing activities and not directly from trading.

Most importantly is to start practing and testing strategies by yourself. I'm telling you from experience - YOU will NOT be successful by copying other traders. You need to find your own edge, your own way of extracting value from the markets.

Bear markets are usually bad for the hodlers (for the weak hands I might add). Professional traders should have different strategies for different market environments.
It is very hard to be a profitable trader and especialy day-trader in the long run. It requires a special kind of skill set from which I'd say that the most important is emotional control/mastery.

Allegedly many traders do make the most in bear markets due to the sharp down movements. In a bull market the price might go much more in the upside direction, but it will do it slowly most of the time.

Let's look at the facts. I have pulled the historical annual returns of Bitcoin since 2011 and the inflation rate of the US dollar.



I don't think there is anything to add. There is no doubt that the returns Bitcoin offers on the medium to long term are way above inflation. Even if the dollar collapses and we have an inflation of 50%, The BTC returns still massively outweigh the inflation historically. Just keep in mind that past results are not indicative of future results.

Haven't you heard of the Lightning network? Moreover there are new solutions being built like scannable chips, paper-like "vouchers" from which those who scan them can claim a certain amount of Bitcoin instantly. We have great minds developing on the Bitcoin network so we should only expect incrementally better solutions for making day-to-day payments.

Nevertheless, I think Bitcoin's main use case is being a store-of-value asset and not a currency to use for mundane expenses.

"Teach them young" comes on the tip of my tongue 
Congrats for the initiative, man! It is so important for people to comprehend the concepts behind Bitcoin while they are young and full of enthusiasm. The fundamental changes in society will be lead by the young ones and our future as a race depends on them doing the right thing.

Really noble, but don't forget that you bear a big responsibility!

What is inflation anyway? An increase in prices of products & services related to a certain currency.
Gold is renowned as the best inflation-hedge humanity had. In US this year's inflation is about 10-15% if I remember accurately. Did Gold increase with that amount? --> Heck no. It is a lagging indicator. People will choose to save in Gold because it is durable and has been historically used to store value by banks and states. So.. you see.. the society has a memory.

Bitcoin is still not mature enough to be stable during economic recessions because many people still view crypto as a risky asset. This is due to it being a rather new asset. We had Gold for thousands of years. Bitcoin is only here for about 13 years, BUT the adoption is rising, institutions are starting to integrate it.

I'd say that Bitcoin can be used to fight inflation, but only for the long-term. I find it useful to think of money as energy.