Yesterday I spoke with my coworkers brother over speaker phone who works for a crypto marketing company. He was convinced that Craig Wright is the actual satoshi and that Bitcoin Satoshi's vision was completely undervalued and that eventually it is going to be the number 1 coin. I just couldn't help but laugh inside my head, but then proceeded to tell him "ya never now maybe you could be right" just for the sake of being polite and not starting an argument lol. I didn't want to be rude, but I do think that this guy was a little crazy. Do people actually think that BSV has potential in the future? I thought we were past that whole fail of a forked BTC coin BSV and also Craig Wright being Satoshi..... LOL asking for a friend...
It's really warning! How on earth a person working in a crypto related company even believes that Craig is Satoshi and BSV is not a shitcoin. I believe many other people believes the same. That's really concerning because that is probably the biggest lie in the crypto market. We can laugh away now but this trend shouldn't continue. BSV is a failed attempt to take over the reputation of bitcoin. It must be protected! |
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Risk is there for both gold and bitcoin. Even though the number of bitcoin is capped, it doesn't necessarily mean that it is deflationary in nature. Also bitcoin haven't yet proved itself as a great hedge asset. It's super volatile and we are all seeing the same in the market currently.
Gold has been used as a hedge asset since a long time. Uganda's gold discovery wouldn't dent on the price of gold due to its robust demand. Also a gold deposit takes a long long time to excavate so it's highly unlikely to increase the supply to such an extent that damages the price trajectory of gold.
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Bitcoin is strictly related to fiat anyway.... because to use BTC to buy something in real life you must convert it to fiat sooner or later. At least for now.
That's true! That's the main concern and a bottleneck for mass adoption of bitcoin. No matter how many bitcoins you own, it is not very convenient and highly unlikely to use it for our daily expenses. Fiat is definitely the most convenient way to make payment for goods and services. As of now, bitcoin is better as an investment and not as a payment method. To use bitcoin, we need to convert to fiat first in reality. |
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MicroStrategy has purchased an additional 480 bitcoins for ~$10.0 million at an average price of ~$20,817 per #bitcoin. As of 6/28/22 MicroStrategy holds ~129,699 bitcoins acquired for ~$3.98 billion at an average price of ~$30,664 per bitcoin. Man trying to DCA with millions.  Smart move! It was expected from Microstrategy. Because they have gone into super bullish mode since a long time now. So it's no surprise that they are trying to DCA. Many people do not understand opportunity even when it is knocking on their door. Those who understand, make big bucks out of the market and rest of the population wait for FOMO to happen! Even though I do not support institutional investors holding such a huge amount of bitcoins. But from a business perspective, it is a smart move! |
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A market facilitates two way transactions. When someone is selling, someone else is buying. Otherwise the trade won't go through. That means there's a demand in the market. So we should not focus on such events whether a big sell off is coming or not. Let that happen and that will present one more opportunity for us to buy bitcoin at a deeply discounted price. So that's fine! Let's not panic based on someone's speculation.
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What do you think about the news ?
Should it include other platforms as well since most of the players know that there are casinos which uses VPN and they would still be able to access it there. But I overall like the idea to control the whole Gambling addiction.
Thoughts?
Self exclusion is an utter rubbish! Gambling becomes problem gambling only when the gambler is unable to control his gambling habit as he/she lacks the willingness to control the habit. So if someone is lacking the willingness, will he/she self exclude from gambling platforms? Unless their family members are forcing them to self exclude, they wouldn't do it willingly. Also crypto gambling is global in nature and isn't governed by country specific regulations. So even after the self exclusion, problem gamblers can head towards crypto gambling. Problem gambling needs medical attention and psychological support. Nothing else can help! |
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It's a shame that the risk appetite of an institutional investor is so low. I am sure the shareholders have decided to sell off the crypto holding. Because any crypto enthusiast know this is not the right time to sell and it is the time to accumulate more. But shareholders are usually rigid in some matters which sometimes work against the comoany financials.
This event can be a possible reason why the market again came down to 19k level. The worst is not over yet.
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I decided yesterday morning that I would buy 1 bitcoin from this dip market. But I did not have enough money. With which I can buy 1 bitcoin. I had an Fixt Deposit of $ 6,000 in the central bank. And the bank would paying interest at the rate of 5.5% APR. I broke it down yesterday and decided to buy Bitcoin with that money. But with this money I will not be able to buy 1 bitcoin. On the other hand, my dream and desire is to buy 1 bitcoin. I then decided to take a loan and applied to the bank for a loan. But I told the bank that I would use this money for business. The bank agreed to give me a loan of $10,000 at 10% APR interest. I take advantage of that opportunity and take out a loan. And the remaining $ 4,000 I borrowed from my uncle and promised to pay him 8% APR interest, which is more then bank interest. Finally i bought just now 1 BTC price at $20,000. It gives me a different feeling That feeling I have never had before. I think if I hold this bitcoin for 2 years I can get 100% -500% profit. Then I will be able to easily repay my debtors with an average interest of 18-19% in 2 years as an average of 9.something% APR and I will be able to keep a huge profit.
All the best with your investment! But taking out loan at such a high percentage for a super volatile asset like bitcoin, is a stupidity to be honest. While I want you to get over this loan quickly enough, but if you rely on the price of bitcoin to repay the loan, the time horizon will get extended by 4 - 6 years. Honestly, I wouldn't have taken out loan for such investment. Rather I would have invested over a period of time to acquire one bitcoin. |
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What do you mean by exemption?
Bitcoin is a truly global currency which can be used by anyone with the help of the right tool. I don't think any company has yet taken an initiative to include bitcoin or crypto wallet into a closely guided voice or braille system so thay physically challenged people can use it. The market size of cryptos is very limited.
So crypto education is good. But if someone is struggling financially, it makes no sense for them to invest into crypto because of the volatility. It will make them financially vulnerable.
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Given that Bitcoin is considered a store of value, can you use a cryptocurrency that can guarantee day-to-day usability? How to go to bakeries, fill up the car, travel, etc? Do you know any coins like this?
Nope! For a cryptocurrency to become usable on a daily basis, needs to cut down on the transaction fees. In the current situation, none of the cryptocurrencies are fit for daily use. Many people would argue that in some cryptos, the fees are very less and have fast confirmation time. But my question is that - why would I pay fees on transactions? If I buy something for $10, I want to precisely pay $10 only and I want immediate payment confirmation. So for daily transactions, fiat is the best option we have. |
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I believe any kind of recognition is good considering the turmoil we are going through. It doesn't necessarily change the way bitcoin works globally but it will pave some ways into the mainstream economy at least in US while the rest of the world still struggling to classify bitcoin.
Probably it will also help some fund houses to launch bitcoin backed ETFs or mutual fund schemes which will in turn increase the demand in the narket.
Btw, do you have any link to this news?
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Ine centralized entity is purchasing another centralized entity. That's not the news here! The news is that a banking giant is purchasing a crypto business at a dirt cheap price. That's the significance of this news here.
It's unfortunate that around 12 billion dollars of assets will be taken over by a banking entity in just 2 billion dollars. It's unfortunate to see such direct impact of the crypto price volatility. Price drop usually means a DCA opportunity for the retail investors. But for businesses, the impact is negative.
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According to some reports, some analysts have predict bitcoin price to fall further to $14000, when I calculate this, at $14000 low, this will be like the 2018, 2019 and 2020 lowest bitcoin price if compared with 2017 highest price, but according to glassnode, when bitcoin price now is still not yet to that point, they have analysed and concluded that the bear market we are now is the worst ever since bitcoin was created. 2022 bear market has been the worst on record — GlassnodeBitcoin is not yet at $14000, is the report accurate? I think the bear market should end before any valid report. This will only result to FUD. I do not believe in analysts but I too have calculated that before, it was not a surprise when I saw in, but we can all be right or wrong. These are all speculation. When someone is saying the price will rise or drop - it's a speculation and nothing else. Unless someone can see the future, we never know what's coming to us. So I will suggest to keep calm and wait for the right time to book your profit. If you believe that bitcoin will go higher in the future, buy now and forget it for next couple of years. Let the bitcoin go down to 14k which will give you another chance to scre more bitcoins at a lower price. This is an opportunity period. |
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Not great! It's time to cash in the investment I have in gold. If Russian gold is banned in some major economies, an immediate supply surge is coming in the other nations which will push the price lower for short to mid term.
Also if war doesn't end shortly, more sanctions and series bans are coming towards Russia. Other commodities may very well be affected.
I don't know what the future holds but it makes complete sense to invest in bitcoin when the price is low because that's a truly global asset immune from such bans and restrictions.
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These kind of coins are not really cryptocurrency. If these coins are available in any exchange, then the entire ecosystem will fail. So it has to be confined within their app where the users can redeem against some vouchers or cashback offers. That's it! That's how they will be able to sustain the business and its cost needs to be controlled by the issuer itself.
The moment it is added to an exchange, the entire ecosystem will fail. So as an investment, this is a super bad choice.
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There have been talks among experts of a global economic recession taking place soon. The COVID-19 pandemic, the persisting Russia-Ukraine crisis, and several other factors will lead us there faster than you could imagine. Considering that the US Dollar is the world's reserve currency, anything that affects its value (inflation) will have a chain effect over other countries' economies as well. Now this could have profound effects over Bitcoin's price within the short term, as the crypto market "mimics" equity/stocks market's behavior. It's most probably Bitcoin will decline well below $10k, as the global economy comes to a halt. Or things could head in the other direction, leading Bitcoin towards new All-time-highs. The pioneer cryptocurrency has often been hailed as a "safe haven", so it should be able to serve as an alternative to Fiat during times of crisis. What are your thoughts?  On the contrary, bitcoin should flourish during a global recession. It doesn't matter whether bitcoin will be considered as a safe heaven or not, but the falling value of fiat currencies may drive up the price if the demand stays strong. But a recession is unpredictable so anything can happen in reality. But if I have to speculate, I will bet on positive outcome for crypto during a global recession. |
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Regulation is inevitable! We can't stop it in any way and slowly all countries will adopt cryptocurrency. I am happy that a powerful economy like UK is recognizing the fact as a pioneer. But they also need to understand that all cryptocurrency is not same. All fund raising platforms are not same. The regulation has to be flexible in order to be favorable which can cover the wide array of the crypto market. Let's hope somethinf good will come out of this.
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It is healthy to have cycles. The only catch is that the 2nd bear cycle should not touch the lows of the 1st bear cycle and that's it! back in 2017-18, bitcoin has gone back to 3k regime after touching the heights of 22k. currently, bitcoin has reached to 20k after touching another ATH of 69k. So it's a healthy increase in price and such bear cycles are only allowing us to score up more and more bitcoin as per the depth of our pockets. It's an amazing opportunity.
If someone fails to understand such opportunity in the market, it's their mistake! Let's not get into discussing such naysayers. Rather focus on scoring up more bitcoins while it is hot!
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You have to understand that Coinbase is a legally registered company and also listed in stock market. So they can't operate in a decentralized manner. They have to follow the rules and regulations of the local markets where they have presence and supports banking transfers.
We have multiple wallets available in the market which are decentralized in nature. People are free to use it. Also Coinbase has never positioned themselves as an anonymous wallet service provider. So I believe that's fine at their end because they have to comply with the regulations. If you don't like it, use other wallets.
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I am wondering is it only the effect of higher fuel prices or Brexit is also responsible for this to some extent. Europe really need to gear up itself for tough times ahead.
Brexit is not responsible for this inflation. High energy prices is one of the major reasons behind this. Price of the commodities is heavily dependent on the fuel price. With the ongoing Russia Ukraine war, the fuel is being sold at a premium. OPEC countries are not increasing the supply while their is demand, adding up to the supply stress leading to consumer inflation. Also when the economy is rising, when people are making a lot of money, it usually leads to overspending which artificially increases the demand. So if supply remains same, it leads to a price surge. Central bank increases the interest rate to suck out money from the economy so that people don't overspend. 9.1% is really huge for a low interest European country to be honest. |
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