One advantage of having multiple online wallets is to protect privacy right? The average user doesn't have in mind that one wallet but multiple addresses are not proper protection of privacy if they cross spent UTXO consisting of several addresses within the wallet. I guess it depends on the user's needs or requirements.

Still though when you install an Electrum client you can of course have multiple wallets. Perhaps the "numerous online wallets" as @OP termed it is a bit misleading here? With Electrum you can easily manage several wallets with countless addresses if you need to.

What if you clean up the basement of your dead great grandpa and you find a big fat chest full to the brim with gold and you sell it for say 100 million and you are obliged to register that sale with financial authorities and then, yes then, they tell you that the gold was acquired by your great grandpa 110 years ago and there is a law stating that when something is lying around dormant for >109 years, it automatically belongs to the public and must be returned to public treasury, what then? Honest question, what would you think?

I wonder if making Bitcoin legal tender also automatically entails a tax exemption on realized gains? That is probably different from country to country? I would like to understand the legal implications of something becoming legal tender.

Otherwise, making Bitcoin legal tender when you still have to pay taxes on realized gains at the time you make a purchase or pay your tax, there is still too much hassle involved in actually using it to buy stuff.

The label "legal tender" isn't so interesting to me. A tax exemption would make Bitcoin way more useful, even if it is up to a certain limited amount for single item purchases.

It does depend a bit on your trading goals or whether there is an exchange that has a certain trading pair but others have not. I am all for Bitcoin anyway, but I also used to trade some stuff and withdrawing and depositing all the time doesn't make it worth in the end.

BUT, Welsh is right as I can tell that over the course of my long crypto experience, I have had a couple of minor losses due to leaving some coins on the exchange. I guess most of us who were around early got caught at least once, or not?

Good old Mt. Gox, Cryptsy, but also a couple of other exchanges. Oh Cryptopia comes to my mind and I can't recall the names but many have disappeared so the advice to not keep your coins on an exchange is 200% correct. The collapses as we have seen with FTX always happen out of a sudden. Everything works fine dozens of times and then without any prior notice the withdrawal is not being processed anymore. Congratulations, tiCeR, for leaving those coins (even if not many) on the exchange (is what I am telling myself ).

I must say though that these days I don't have a single penny on any exchange. Thankfully never lost big, but learnt the lesson.

There is essentially nothing to add here. Higher education isn't worthless. There are so many things coming with it that it often pays off even besides the degree. You get to know a scientific community, some brilliant minds that you might one day work with together, professors who can open up business networks to you, skills to organize your days and nights, working towards a goal for years thereby learning to sacrifice short-term pleasures. There is so much that higher education is good for, but it is by no means a must. There are lots of people being successful without a degree, but looking at the statistics it is as @serjent05 said, most people who are successful entrepreneurs in most cases also have higher educational degrees or at least attended university for quite some time at some point in their lives.

I think that Bitcoin is surely superior to any other asset class when it comes to crossing borders or being mobile in any way. If there is a harsh crisis in a country and you want to leave and arrive with two bags full of gold bars at the airport, I am pretty sure that would be going to end in a thorough investigation and perhaps even (temporary) confiscation in some countries. As you mentioned, when there is economic trouble in China, leaving the country with gold bars is going to very problematic. They won't let you go. They claim that it is for the good of the nation, but what they ultimately want to prevent is that assets are not drained from the economy, thereby further reducing any stimulus that is badly needed to get the economy going again. This is only the second part of their thought process. The first part is that a weak economy weakens such regimes and reduces their political power.

Whether Bitcoin is better than anything depends on a number of circumstances. I guess a woman in their 80s is better of with a gold bar than with a hardware wallet or a paper wallet.

I most asset classes have a certain set of unique characteristics. First of all I would probably define the time horizon that I plan on investing or a timeline that defines for how long I don't have to liquidate the asset. Now if I know that 12 months from now I need to liquidate the latest, I would probably not recommend buying Bitcoin because if someone is unlucky and catches another bear market, they could be forced to liquidate in the worst possible moment. For shorter time horizons and if it is money you don't want to risk heavily, you got to stick with very low interest paying bank products I guess.

The more time you have, the better Bitcoin becomes in my opinion. Perhaps you invest in steps because should you be unlucky and catch another bear market, you have liquidity available to stock up at cheaper prices. Hence, the bear market doesn't affect but actually benefit you to a certain degree.

As soon as you have short time spans and cash that is not necessarily dispensable, Bitcoin is not for you.

That is why part of the education concerning Bitcoin should also deal with the market dynamics. I got into Bitcoin very early and I tell you I had a couple of nights sweating hard! If Bitcoin starts moving it is often faster than other assets do. That has slowed down a lot by now, but it can still be quite overwhelming either to one's advantage or disadvantage.

Just arguing with the history of Bitcoin doesn't take into account that there are things going on in the world which nobody could ever predict. We can't know whether in a couple of months from now something will happen that will shake the whole world drastically. Markets will still be there and they will also recover, but asking for a tendency in a specific year is difficult.

Long-term I would say that Bitcoin might even be a safer bet than many other things. Companies can suffer depending on the type of the crisis. Perhaps some go even bankrupt. Bitcoin as a decentralized system for wealth storage won't disappear ever unless the whole planet gets nuked, but then your Bitcoin don't matter anymore anyway...

Hm, I don't know if I would say it the same way that intelligent leaders know that Bitcoin is beneficial to them. I would rephrase it into "they know that banning Bitcoin can turn out to be not beneficial to them".

It also depends on what countries we are talking about. If you take China as an example, they do have an intelligent leader. Xi Jinping is not a dumb person. But they have a political system that is threatened by any form of individualism and freedom. So for him it could turn out to be more intelligent if he slows adoption down. By now he also understood that banning cannot be done effectively, but at the same time he doesn't want Bitcoin to spread like a wildfire and give everyone the chance to park some of their national currency in the Bitcoin network where the government has no control over. Bitcoin doesn't fit into their social control system as transactions are part of their surveillance strategy.

Comparing "Conor McGregor, Jake Paul, Chris Bumstead, Messi, Kardashians, Drake" to the kind of entrepreneurs that OP is asking about is really nonsense. Seriously, if I were asked for 1000 examples for successful entrepreneurs of the category OP is asking about, none of your examples would I mention.

I also have to contradict you in that professors don't know how to make and manage a business. I do know professors who drive a Porsche and live in a mansion. They are themselves running businesses sometimes or they are highly paid advisors to successful companies.

A degree does help because it teaches you to persistently pursue an end goal for a longer period of time, frequently having to solve complex problems and to efficiently coordinate and distribute your time and intellectual capacity.

It is also sometimes the case that people who get higher education come across a topic during their research tasks that they identify as a potential area for future opportunities.

Saying there are no benefits and you can't get rich when going for higher education makes absolutely no sense.

I can only agree with what you have said, there is nothing to argue against. But I was referring to this downward spiral that when education becomes more expensive, you take on more debt, which in turn now again becomes more expensive due to rising interest rates, you almost have no choice but demand a higher salary than a couple of years ago. If now the average wage level does not nearly approach inflation levels, the whole situation is doomed to collapse at some point.

What you describe is true and it is a frightening scenario for those who invested half a decade of their lifetime and took on massive debt just to now find out that the job they could assume does not pay a salary high enough to cover their basic expenses.

Switzerland handles that well as non-academic jobs are also well paid and they handle inflation reasonably well. Since non-academic wage levels are very decent, there is always a viable alternative for people who feel academics is not for them but they still want to live a good life. Still though, even if the number of academics increases in Switzerland, they have the gigantic financial service sector seeking talent 24/7/365.

It is a relevant and interesting topic and there is never just the one right way. When people ask you for advice there are many things you can't know in advance. Luck is important as well as you might meet the right person at the right time with the right idea and the will to cooperate with you. You go for the entrepreneurial way, never get a degree and can surely say it was the right choice.

I think Bitcoin is also a great example. It has made many people a millionaire that never expected in 2008 to become a millionaire within 5 years or whatever. Alt coins made many people rich back at the time as well. Who knows how many people dropped out from university after making a fortune with their feeling that this industry is going to be mooning soon.

Opportunities are the variable that you can't perfectly know in advance but that will eventually define your way of life.

This is a very important point you raised here. Nobody would actually be in their right mind if they create a retirement plan with Bitcoin and deposit those funds into a government controlled centralized institution. That is really against the whole point of Bitcoin.

If these retirement plans actually ever exist, there should be some coding mechanism that you can prove with to the government that you can't touch the wallet up to a certain point in time, or if you do any tax benefits or top ups granted from the government will be deducted again  calculated according to a certain predefined table.

I don't know exactly what the perfect solution could look like, but depositing Bitcoin into a government controlled custodial wallet for decades would make me nervous.

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I haven't heard of any country yet that allows for tax advantages or other benefits if you add Bitcoin to your long term retirement plan, but if Bitcoin adoption keeps growing and it also makes its way further into politics and legislation, that could accelerate its growth a lot. Some countries allow for stocks to be treated favorably as long as you add it to your retirement plan, but I fear that we are quite far away from Bitcoin getting such an approval. I wouldn't say it is impossible though, but rather a question of (quite some) time.

But that is a bit of a one sided presentation of the facts. I can't speak for all countries, but when education is expensive and you take on loads of debt for years, isn't it understandable that you ask for a higher salary than the average person? Low wage levels have become a serious problem in a lot of countries and not only the developing ones. With inflation being high you are almost forced to ask for higher salaries in order to make sure you can pay your bills at the end of the day.

But no matter what discussion we have here, education is still positively correlated with higher income and we should not let us be deluded by stories of Silicon Valley entrepreneurs. Many of them might not have finished their education, that is true, but they all had enough education to enter universities like Harvard and Stanford. Sometimes the public is confronted with the idea that dropping out from college is equal to having no education and still become a billionaire. No, those guys would have degrees from the best universities of the world if they didn't drop out.

I don't really understand your statement and you to elaborate. You say that you don't have to pay tax. Does that mean that there is a law defining tax requirements for cryptocurrencies? Or is there no law at all and that is why you think you don't have to pay tax? I know a lot of countries where it took quite some time to come up with tax guidelines but many of those countries have neither declared Bitcoin illegal nor legal, yet tax laws apply and it works. It is chaos here and there but it works.

If a clear tax exemption has been announced in your country, isn't that a first step to "legalization" in the grand scheme of things?

What I thought when they had their game against Bristol City is that they are dependent on Kevin de Bruyne in top shape. It is a different game when he is at his best level because he is also the brain of the team. His precise passes that open space for an attack out of nowhere is difficult to defend. Sometimes even his own team mates are surprised when the pass suddenly happens.

When he plays against Leipzig and is fit it will be much more difficult for Leipzig to keep their defensive lines closed and safe. If the opponent has someone who can play passes like de Bruyne, you as a team are under much more pressure constantly for the whole 90 minutes. It is a higher burden on your concentration when you have to anticipate all those surprise runs and passes in free spaces that you thought are no option. He also knows how to score. Against Bristol he lifted his head for a second, knew he had a moment to focus the target and goal.

This guy provides some interesting insights into how long Bitcoin stay dormant in addresses and how investors behave during bull or bear markets. The statistics show that during bull markets people do tend to take profits. That isn't all too surprising, but I mention it because those who bought Bitcoin at cents and then held to this date has decreased over the years. Yes there are a couple of guys who even held through the crazy bull runs we had, but the idea that someone who says he got to know Bitcoin in 2011 must have profited in 2017 doesn't always apply. There are also lots of guys who sold along the way up.

Now when you start DCA today there is nothing wrong about that. But the times of 1000x within very short periods of time are over. Bitcoin could still outperform the market any time so it is a viable investment option. Regarding the total limit of Bitcoin and its impact on scarcity and price, I yearly block reward is already negligible and won't have much of an impact on the price one way or another.

The concept of stable coins can be a good one, but it was evident that this is all about experimentation so far. Several kinds of stable coins have been introduced and they functioned well until they didn't anymore and all too often the analysis was easy and hard: they have been too centralized and if a single institution issuing those stable coins crashed, the stable coin would die along with the institution. That is a bad execution of the concept itself if it is supposed to exist reliably.

The stable coins aren't more or less stable than fiat currencies as they are backed by them. 5 USDT would get me whatever the equivalent in USD would get me minus the discount factor that I can use USDT in way less places and that there might be a hidden premium for the risk that USDT bears.

But there might also be additional value that USDT can hold for me if I park a highly inflationary fiat currency in USDT. These stable currency systems are just not well set up and still not scrutinized sufficiently.

The problem you described is primarily not a problem of stable coins, it is a problem of your government holding back fiat currency from circulating in order to manipulate politics. You are shifting a typical problem of fiat currencies into the category of stable coins. They do have their own issues, but a government withholding currency is not an inherent problem of stable coins.

Sure it would be a huge surprise if Leipzig made that happen, but the discussion about this game doesn't sufficiently acknowledge that Leipzig isn't that easy to beat. On a good day they can cause some severe problems for any team. In the group stage they kept a perfect defense against Real Madrid until the 80th minute and you could say that the win for Real Madrid was ok in the end, but that is not the point. Until the 80 minute the stats were quite even. Leipzig had almost the same number of attempts, more corners and all other statistics were solid for a team playing in the Bernabeu.

They need to make sure that Pep's guys don't get a quick overwhelming advantage. Play it safe and then use their head , they don't have to score. Manchester City is the team that has to score here.