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It's been nearly a year since the taproot upgrade was activated and adoption is still extremely low. According to transactionfee.info, Taproot spending transactions make up less than 1% of all bitcoin transactions.
Many months ago I created a Taproot wallet in Sparrow Wallet but I was frustrated that many services couldn't send BTC to my wallet. I have since switched wallets to try out features that weren't available in Sparrow and unfortunately those wallets do not support creating taproot addresses.
When Segwit was activated several wallets like Electrum and Trustwallet made P2WPKH the default address type and this really helped with Segwit adoption but this time around wallets have been slow to add support.
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We will never see an end to new shitcoins. It is too easy to launch a new coin anonymously and then when your token goes to zero you just launch a new token. There is always some influencer with no shame who is willing to promote even the shittiest of shitcoins. There is always somebody willing to buy these tokens so the motivation will always exist to keep launching new tokens.
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The Binance Smart Chain itself wasn't hacked but one of the smart contracts for one of their cross-chain bridges. These type of bridge hacks are quite common and have occured on various smart contract based blockchains.
The fact that CZ can just halt the blockchain shows the level of centralization on BSC. Even if it was for a benevolent cause there is no guarantee in the future that they won't freeze transactions due to government pressure or for some selfish reason. BSC has many benefits that make it a preferred choice for many projects to launch their tokens but it is unfortunate that censorship resistance and decentralization were sacrificed in favor of being a fast and low fee blockchain.
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Popular and established projects are far less likely to become a scam. There is almost zero chance Bitcoin becomes a scam. With more centralized coins it is a bigger risk. I would stay away from XRP and AVA. I think BNB, Cardano, and Solana have some risk but I don't worry as much about them collapsing and going to zero. Litecoin and Monero I would consider very safe but I also don't think there is as much of an upside to their price.
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Ledger and Trezor are the most popular options for hardware wallets. Coldcard is also a very good wallet because it has the option to be used in an air-gapped manner which means it doesn't ever need to be connected to a computer.
For new users either any of the two most popular wallets are beginner friendly and will keep your bitcoin safe.
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If a project is good then it doesn't matter if it is a bear market. Eventually, market conditions will improve and these coins will have the biggest gains when that time comes. Even if you wait until we are in a bull market there is still a likelihood of failing such as was the case of many coins that launched during the ICO boom and more recently with the meme coin fad.
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Trading and speculation does not really help with adoption. Having a stable price would be really positive for Bitcoin. Compared to the US dollar, Bitcoin has not been a great store of value lately. For some people it would become less attractive because they just want the price to moon so they can buy lambos but overall having a stable price would help Bitcoin's credibility as a currency and store of value.
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I don't see how you go about integrating crypto and web3 into Twitter in a way that is actually interesting to people. They had the NFT thing and I very rarely see people with hexagon profile pictures anymore. There aren't any web3 features that would get to use Twitter any more than I am right now or that would make me pay a monthly fee for these extra features. I would actually use it less if Twitter became a platform to promote shitcoins.
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Trust Wallet is a good wallet for mobile devices. It has support for many altcoins and that's why it is popular. It is the main wallet I use for Binance Smart Chain tokens. If you are interested in staking and defi it is a good wallet and should be safe enough for everyday use. You can lock the wallet with your fingerprint or face if you need the extra security.
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Social media is an ideal place to promote a business. You can reach a lot of potential customers and communicate directly with them. It is also free to use social media so you don't really have to worry about an advertising budget. People still socialize but with a struggling economy, making a few extra dollars is taking precedence for some people.
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The best way to generate profit would be to find a source of passive income. Lending crypto used to be a popular option but after the situation with Celsius I'm not sure it's so appealing anymore.You can also try staking. There are decentralized methods and also centralized services like Binance allow you to stake on their platform.
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You can do a site specific google search to limit your results to only bitcointalk.org. Google has a great portion of the forum indexed so it is not hard to find information you are looking for. I use it often when I need to find old posts or for finding specific information about a website or project.
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I don't really see the price doubling in the next three months. If it did then I would expect a huge crash afterwards. The price has stabilized around $19k. If the price closed above $20k it would be really posistive considering we've been on a downward trend for nearly a whole year. It's looking like the economy could enter a global recession so it is not the ideal time for Bitcoin to see significant growth.
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The global economy is really struggling right now and that is having a negative impact on crypto markets. The bear market won’t end until we see an improvement in traditional markets. Inflation is still out of control in many countries and the conflict in Ukraine is only intensifying. These are not good signs for the price of Bitcoin.
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Recent studies suggest that VC-backed coins are some of the worst performing cryptocurrencies. https://startupsandecon.substack.com/p/you-dont-own-web3-a-coinbase-curseVCs don't really care about supporting a new coin for the long term, they are looking to cash out as soon as their coins get listed on a big exchange and there is a big pump. Most of these coins won't recover after they get dumped so as an investor you have to time the market and consider dumping your bags whenever a coin gets listed on Coinbase or Binance. |
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Bitcoin is meant to be a global currency. Nobody thinks of Euro adopters as being early or late. You can never be too late in adopting a new financial instrument. There is some possibility that you'll make a substantial profit but this is not guaranteed. All you can hope for is that more people will understand the benefits of using Bitcoin and greater adoption will be beneficial to everyone, not just the ones who were early.
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At the bare minimum a new project should have an original whitepaper. If it is plagiarized then I would have no confidence in it being a legitimate project. There are even some websites where you can hire someone to write a whitepaper for you for very cheap. There really is no excuse for copying a whitepaper.
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