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June 14, 2024, 01:46:50 PM *
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1441  Alternate cryptocurrencies / Altcoin Discussion / Re: Stablecoins or CBDCs? on: April 21, 2022, 02:39:50 AM
CBDCs will have more credibility than stablecoins, simply because they're backed by the full faith and credit of the government.
At least CBDCs won't be killed by governments but the bad thing is total supply of CBDC is unlimited. Governments can mint infinite total supply and I believe they will feel more easily to mint new supply batch in CBDC than print new supply batch in fiat currency. Minting CBDC from thin air is easier than printing new fiat currency.

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I doubt centralized stablecoins will survive as people will prefer CBDCs instead. Only decentralized stablecoins will stand against CBDCs as they don't have any central operator (issuer) behind them. They will prove to be an excellent alternative for those looking to escape government surveillance. I'd focus more on traditional cryptocurrencies such as Bitcoin or Ethereum since they're not directly tied to Fiat. As long as decentralization wins, there should be nothing to worry about. Just my thoughts Grin
Governments will try to protect their CBDCs and to do so, they will do more regulations on centralized stable coins. Companies that provide centralized stable coins will cope with more governmental regulations but I think they will still survive.

Centralized stable coins are still better than CBDCs because you will have public ledgers with which you can trace transactions, top holders, etc. With CBDCs, I don't believe governments will give us similar public ledgers.
1442  Bitcoin / Bitcoin Discussion / Re: [GUIDE] How to send BTC for cheap! (And stop paying $25 for withdrawals) on: April 21, 2022, 02:30:44 AM
Consolidate small inputs
Transaction fee - Everything in one

If you have many small inputs, you should choose time when the Bitcoin network gives you low transaction fee and consolidate your small inputs. It is your good preparation for your transaction in future because after consolidating, you will have smaller size for  your transaction later that will help to reduce transaction fee.
1443  Bitcoin / Bitcoin Discussion / Re: Ireland to Ban Political Donations in Cryptocurrencies on: April 21, 2022, 02:01:10 AM
The ban can cause more barriers to bring Bitcoin to the crowd but it won't be able stop the growth of Bitcoin adoption and the expansion of its usability. Political donation is just one part of Bitcoin use cases. Even with political donation, governments can not totally ban it. In reality, governments can not ban anything totally. People basically always figure out ways to break through government regulations.

For politicians, it's obviously that they don't want to get issues with governments and regulations but donators can cash out their cryptocurrency and donate cash. The ban just force them to switch from direct donation by cryptocurrency to undirect donation by fiat currency.
1444  Other / Beginners & Help / Re: Element of blochchain making poeple to trust cryptp? on: April 20, 2022, 01:47:55 PM
Decentralization, transparency, privacy (somewhat) and financial freedom.

If you use non custodial wallets, you have full control of your coin and it brings freedom. You don't have to sleep in fear of money freeze, account freeze, any type of freeze which is harmful for your money.

Don't store your coins on exchanges and you should store your coins in non custodial wallets as well as remember to make backups of your wallet. When the initial device on which you create a wallet is broken, you can use backup to recovery your wallet on other devices.
1445  Economy / Trading Discussion / Re: Bear market every team will pump their own coin on: April 20, 2022, 03:33:30 AM
It's easier to pump shit coins in bull market when people are all hyped and they reinvest with profit they got from previous projects. In bull market and with profit in hands, people usually make their decisions more easily and with less strict rules. Therefore they will more easily to lose money to shit coins.

In bear market, it is very difficult to pump shit coins in bear market because most of people are in loss and pain so they are more careful with their decisions. Even if they have stable coins or fiat, they are still more hesitating with new investment in bear market.
1446  Alternate cryptocurrencies / Altcoin Discussion / Re: Why I think Defi and NFTs will be the most important elements in the cryptospace on: April 20, 2022, 03:13:37 AM
Defi and NFTs will not only be important elements in the cryptospace, I reckon Defi will be the main element that will serve as basic infrastructure for all digital items created in the cryptospace. This will include NFTs as mentioned and will also serve cryptocoins like Bitcoin, Ethereum, other altcoins and stablecoins. Defi can also serve casinos, DAOs and many other usecases.
Although they will exist and gradually become important components in crypto ecosystem, there will be small parts of DeFi and NFT projects will survive with market bearish test. Because most of them are created with unsolid idea and models so the longer they run, the weaker they become. The bigger their platform becomes in hype period of bull market, the more vulnerable they are in bear market because crash will be bigger.

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Before I had a wider understanding about Defi, I thought it was only another new scam in the cryptospace that will be forgotten. This is because I thought Defi would try to serve real world assets of value that will be tokenized. I was clearly very wrong in this type of thinking.
DeFi and NFT projects and ecosystems must create good economies themselves. If they can not do this, their ecosystems will collapse because when new users won't join, the momentum of growth will be broken that will trigger reveal of their weaknesses. When investors realize about that, when price start to collapse, it won't stop and can not be stopped.
1447  Economy / Trading Discussion / Re: TA or FA which is a better choice for market speculation. on: April 20, 2022, 02:59:36 AM
To easy your life, you only have to read Bitcoin's fundamentals such as its total supply, current circulating supply, future supply left, halving years, etc. and be fully aware of how many Bitcoin left for mining and in future supply. How will the future supply be decreased after each halving.

When you are comprehensive understand about such fundamentals, you can invest in Bitcoin with your money. Remember, I only advice you to invest with your money, not from bank loan, personal loan, whatever loan type.

You don't have to fall into chronic headache with TA or FA.
1448  Bitcoin / Bitcoin Discussion / Re: Average bitcoin transaction fee lowest since two years on: April 20, 2022, 02:34:32 AM
It is partially contributed by the massive growth of Lightning Network since 2020 with more integration on exchanges, merchants, marketplaces and wallets.

However, if you do not use Lightning Network, you are still able to broadcast your Bitcoin transactions with low transaction fee. To do this, you have to use a non custodial wallets with which you can control your inputs, outputs and fee rate. Because if you have control of inputs, outputs, you can pick good time when mempools are clear in order to consolidate your inputs. It's a good preparation for later transaction broadcast even if you do this when mempools are not clear.
1449  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] BITGESELL - Store of value (Burn rate is 90% of tx fees) #realstoreofvalue on: April 19, 2022, 01:26:50 PM
there is a low trading volume with few coins available on the market practically (more than 99%) in a single exchange. Each time a "large" buy order is placed the price soars.
This time, price holds so good. It is more sustainable than the spike in 2021. In addition, the trend is reversed from bearish to bullish. I hope that Bitgesell will maintain the trend and the latest recovery is not only because of its halving-related hype.

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Probably the second part of your message could be solved just with listing of this coin in an exchange.
But I think that we need more adopters / case uses ... investors will come to their own without even needing a dedicated marketing campaign....
I think the volume on Hotbit is good enough if the team can not list Bitgesell on Tier-1 exchange, let's stay with Hotbit and build up usability. More use cases will make the coin becomes more interesting and more investors will participate in.

Furthermore, I see positive news that the Bitgesell team are hiring marketing staff for further progress to bring Bitgesell to more investors.
1450  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] BITGESELL - Store of value (Burn rate is 90% of tx fees) #realstoreofvalue on: April 18, 2022, 05:16:38 PM
Anyone here know why Bitgesell pumped over 60% yesterday? I was surprised yesterday to see its pump but today price has been pulled back to where it started. It's a little bit lower than where it was before the yesterday pump.

In addition, another problem with Bitgesell is its not too high trading volume. So you will have difficulty to take profit at price you want even there is good pump for you. I think if Bitgesell team can run marketing to attract more investors, traders to this coin and increase its trading volume, the coin will become more attractive on the market.

Nobody wants to buy a coin that is challenging for them to enter and exit without too much impact on price.
1451  Bitcoin / Bitcoin Discussion / Re: What is truly missing in the Bitcoin ecosystem to get this to the masses on: April 18, 2022, 05:11:17 PM
The main barriers are conflict of interest between governments and the crowd. Governments want to control the crowd, earn from the crowd etc. Bitcoin brings freedom of control and financial prosperity to the crowd. By using and owning Bitcoin, the crowd don't have to rely on central banks, avoid or reduce tax pay for governments until more regulations implemented in future.

All of such are not what governments like so they will use law, regulations, social media especially government-backed social media to use misleading terms like virtual currency, etc. as very first barrier to prevent access of the crowd to Bitcoin and cryptocurrency.
1452  Bitcoin / Bitcoin Discussion / Re: Research; The use of Crypto currencies for cyber laundering on: April 18, 2022, 05:03:33 PM
While cryptos are used for financial crimes, of course, the question you should ask is the following: are cryptos indeed special in being used for financial crimes, or are they used roughly just as any other form of money is used? Then research how much money is laundered via banks every year (spoiler: the hell lot), how much is laundered in which cryptos, and what criminals tend to prefer in terms of currencies and forms (spoiler: cash is still very relevant). Just try to remain objective, op, and not write another ill-grounded article on how cryptos help commit financial crimes.
Bitcoin or cryptocurrency are not created for financial or cyber criminals but as in life, there are good and bad usability of all things. Because there are good and bad people in our society. Good people will use things in a right way. Bad people will use things in a wrong way. The same you can find in crypto market. There are good usability of Bitcoin but there are others use it for money laundering and illegal things. However, let's keep in mind that people are free to use Bitcoin. It's for everyone but don't judge Bitcoin is bad because there are bad people used Bitcoin.
1453  Alternate cryptocurrencies / Altcoin Discussion / Re: Question about gaming and metaverse on: April 15, 2022, 05:57:20 PM
The P2E trend is falling and is no longer as interesting as before. P2E games today, the purpose is just to generate tokens and NFTs to buy and sell for profit, not real entertainment. But if in the long run, now traditional game publishers are looking to cooperate with blockchain companies to bring them together, then I believe the P2E trend will return and get stronger and stronger.
P2E trend will not return in my opinion. Because the P2E, Play To Earn is a wrong concept. It has a successful leader, Axie Infinity but when the hype gone, no new flow of capital from new gamers, price will be dumped. Because what gamers want, money. From what, from the in-game awards. Do they care about price of token? Probably not, they will dump tokens earned by playing to get their capital back. Selling pressure from gamers are huge, very huge, unstoppable if no nerf control from developer teams.

Metaverse is a very new concept that needs time to be verified. What we have now is just a broad and vague concept. Products, we don't have it to verify now.
1454  Alternate cryptocurrencies / Altcoin Discussion / Re: Ethereum will switch to PoS in Q3 2022 on: April 14, 2022, 06:45:37 AM
Ethereum may switch to PoS as early as Q3 this year. The source of this assertion is a post by an Ethereum developer on Twitter:

https://twitter.com/TimBeiko/status/1514010098145759232

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It won't be June, but likely in the few months after. No firm date yet, but we're definitely in the final chapter of PoW on Ethereum
It is another hype news for Ethereum but with history of postpone for Ethereum PoS, I don't believe in statement or sneak peek of Ethereum developers or Vitalik's. It's good to know of such news but I will keep my mind neutral and wait for real activation of PoS for Ethereum.

Meanwhile, the market usually responses very positively with such news. If I already have Ethereum, I will wait for such sneak peek to take profit. If I did not own Ethereum, I will not buy it because I won't let myself falling into FOMO.

Ethereum is a very good altcoin for long term investment. In cryptocurrency market, I only see Bitcoin, Ethereum and BNB as best and safest cryptocurrency to invest in.
1455  Bitcoin / Bitcoin Discussion / Re: Are we entering the era of CBDCs? on: April 14, 2022, 06:41:04 AM
Probbaly some delaying it due to its potential of avoiding such launders. Just a guess! But of course everyone a fair shot on having a business using their own CBDC.

Thats the thing. Its not blockchain related so technically can we even called it a coin? Community should be educated by it and avoid confusion on the idea of cbdc.
They have to consider many things. They have to make strategic plans from technical development and implementation of their national CBDCs, and prepare infrastructures to support the actual usages of CBDCs in their societies.

It does not help for CBDC adoption in their nations if they simply code and launch their CBDCs while other infrastructures are not ready to support CBDC transaction, payment, tax, etc.
1456  Bitcoin / Bitcoin Discussion / Re: Are we entering the era of CBDCs? on: April 14, 2022, 06:34:16 AM
CBDCs will be a future of fiat currencies and central banks will use it in order to facilitate their works. With CBDCs and centralized chains (?) which controlled by central banks, they don't have to cope with challenge from money printing factories, oil supplies and other production cost.

I don't like CBDCs but I don't see why governments and central banks don't launch such in their nations and for their monetary governance.

https://cbdctracker.org/
1457  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] BITGESELL - Store of value (Burn rate is 90% of tx fees) #realstoreofvalue on: April 13, 2022, 04:28:10 PM
- Could you recommend, introduce or advise marketing agency or person to help with these activities in BGL project (or maybe even become the part of the team)
Please consider some candidates
- irfan_pak10
- Murat
- Hhampuz
They are good managers and regarding to marketing, I think they can help you.

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P.S. Congrats on 2nd halving!
Congrats too!

It is more impressive to see Bitgesell holds its price quite well even latest days in red market. BGL price becomes more sustainable after the strong recovery weeks ago. If it continues, we will see a ride back to all time high soon.
1458  Bitcoin / Bitcoin Discussion / Re: BITCOIN NOW A LEGAL TENDER IN SPECIAL ECONOMIC ZONE OF HONDURAS. on: April 13, 2022, 04:22:10 PM
Legal tender is good but if a nation tries to force their citizens to use Bitcoin for daily payments, it would be wrong.

Bitcoin is more likely an asset for long term investment, a safe asset against inflation. However, it is volatile short term and business companies don't like it. People who have small business don't like it because they will not be able to control income and outcome for their business with Bitcoin. They would prefer to sell, buy, store their capital in fiat currency or in stable coins rather than in Bitcoin.

It is arguably but it is also a fact.
1459  Economy / Trading Discussion / Re: Basic options trading course on: April 13, 2022, 04:17:04 PM
Let's learn options trading together! Options is arguably "safer" than leveraged trading and I believe IF, only IF, Bitcoin crashes like March 2020, taking a long term call option that expires more than one year might be profitable. It requires less capital, and doesn't require your full attention, like HODLing. Cool
I would like to use my money to buy Bitcoin, and HODL it. If I trade, I preferably use the Spot trading.

Honestly I lost money from margin and it is my painful experience. If there is risk of liquidation with option trading, I would like to say no with Option trading. Because I know that I can not manipulate the market and my prediction is not always accurate. If market moves negatively and down quickly and I don't control my position well enough, liquidation will knock me out.
1460  Economy / Trading Discussion / Re: Some Errors We Make In Trading Crypto on: April 13, 2022, 01:55:48 PM
I had been badly hurt while trading without a stop loss and trading with high leverage of 10x, with high leverage a drop in the price of the traded amount to a huge loss of my portfolio, I had been able to manage that area by trading with maximum of 5x which is more reasonable with a lower risk
Stop loss or not, it is hurtful of you use leverage for trading. If you are bad in capital allocation and management for trading, and if you use too high leverage, you will be punished by the market in red days.

Bad capital allocation means you use 100% of your capital for leverage trading. Consequently, in red days, in massacre times, and if stop loss order fails to save you because of Cascade effects, you will lose 70% to 80% of your capital. It's terrible if you all in trading with leverage, and after one bad trade, you lose 80% of it. Terrible nightmare certainly!

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I had also been hunted in with bad trading without a stop loss, I had a mindset of forex trading not knowing that cryptocurrencies tends to have a higher volatility thus tend to move faster than forex.
Finally I also worked my emotions especially avoid greediness after earning some profits.
You have to consider to use Stop loss order and Stop limit order too.

What is a stop limit order?
One of the best weapons in trading
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