I am not an avid supporter of Elon but I am not hapoy about this news. Dogecoin is not a pyramid scheme, it's just a normal POS coin. Elon indeed created hype about dogecoin in the market using his influence over the social media and probably made couple of millions from this activity.

But one thing we need to understand that Elon is one of the most prominent supporters of cryptocurrencies in general. While the confidence about cryptos are low, we need someone like him to raise his voice to support cryptos. Instead he is getting sued. That's unfortunate!

I do agree with OP. Crypto is on sale at the moment and no one really knows the bottom. So it is wiser to score slowly but certainly. We are going through one of those 3 years cycle we have experienced back in early 2018. So when the next bull cycle kicks in, bitcoin may get a valuation of 100k quite easily. We all need to prepare now to get the profits out of it.

Naysayers will always be there to demotivate people. Some will say crypto is dead. But we need to ensure that none of these negative things affect our own thought process.

Accepting cryptocurrencies for a business is a good proposition for the business itself because it saves on the transaction fees. However it is not the most convenient payment method for the buyer. So you may see businesses accepting cryptos but there are hardly any users to use that method. Cryptocurrency is great for investment, but not the best choice among available payment methods.

Very soon, UPI method will be implemented in a lot of countries. Why do you think Visa and Mastercard has gone to US competition commission to comllain against UPI!!!! They could very well become extinct from the markets where UPI will exist.

Read: https://en.m.wikipedia.org/wiki/Unified_Payments_Interface

Do you think that freely available things have a price tag on it. I remember few months ago, a similar coin called Merlyncoin was offering free coins to the community and I had obtained 100,000 MRN through their giveaway. It is still not listed in CMC or in any other exchanges. The project became a total failure. That's what usually happens to any coins that are offered for free of cost.

The moment it will liat into any exchange, people will rush to sell and the price will crash. That's usually the fate for such cryptos.

Just another real life example of what addiction can do. I wouldn't say gambling specifically because the keyword here is "addiction". Any addiction is bad. Be it gambling, smoking, drinking etc. In gambling, you loose your wealth and in smoking, you compromise your health. So it's very necessary for the addicted person to seek medical help. Phil Mickelson is just an example of what addiction can do to us and clearly a warning for the addiction population.

That's really funny! $20 worth of bitcoins in 2011 could have made the holder a millionaire today. But pessimism kicked in and the opportunity is lost. I remember I have done the same thing with ETH because I actually had a chance to buy ETH at $3. But I was skeptical about its future and didn't buy. I could have become a millionaire by now based on the investable surplus I had back in that time. Bow trying to correct that mistake by buying at every dip for longer time, probably for my retirement. 

While it's definitely a good news, but it will be interesting to see how many travelers actually opt for crypto payments over the other available payment method. While crypto offers anonymity, the available payment methods like plastic cards offers convenience. But I think it will be very handy for international travelers because they won't have to pay currency conversion charges while using bitcoin or ETH while making such payments. I just hope that they accept LN to add more convenience to the travelers.

These are even bigger scam! NFT is a piece of digital shit that has almost gone down to drain already. By 2023, NFT wouldn't exist anymore. It was riding on a hype and since the hype is gone, the NFT sales has declined too.

Usually for the most in-game NFTs, you can't withdraw them. Rather you can reuse that item within the game as a premium addon. Can you let me know which game you are referring to so that I can have a look at it?

Did Satoshi Nakamoto tell you that? Bitcoin was never created as a hedge against the fiat currency and inflation. Bitcoin was purely created for one reason - people get to control their own finances without any third party intermediary. It has nothing to do with inflation or any other global economical issues.

However, when bitcoin became popular people find it more attractive as an investment because it has shown immense potential. But bitcoin's price was never supposed go up when the global market is down or vice versa. It happened couple of times in the past, but that's pure coincidence.

Self exclusion can become useless for couple of reasons -
1. It all starts with oir willingness. If a gambler has a strong mind, he will be able to self exclude himself from gambling for as long as he wants. It all starts with us. Think about cigarette addiction. Unless the addicted person is willing to take action, nothing really happens.

2. There are multiple gambling websites available, including unlicensed ones. So even if someone has a strong mind to self exclude him from gambling for a specific period of time, it will be pretty easy for him to come back to gambling through another website.

Addiction can be treated through regular counseling. No measure of exclusion will work unless it is a forced one.

Look at the bigger picture! Do you think only crypto is affected? Look at the global stock markets! Today morning I looked at my stock portfolio and it mostly in red except some well performing companies. My crypto portfolio is also in red except ETH which I acquired at $450 range. So the global market is crashing. It's not only cryptocurrency. So I don't bother what others are saying and what theory is being invented, crypto is here to stay for our lifetime! So I am indeed acquiring more bitcoin as per the limit of my pocket. Crypto winter usually lasts for 3 years as seen in the previous instance but no one really knows what will be the reality this time.

Also I agree to Bill gates on NFT. It is indeed a scammer's tool and a playground for money launderers. So NFT may go down to drain rightfully, but crypto is indeed going through a bad time like any other markets and it is the best time to invest in.

 Cryptocurrency is a bad payment method. The kind of fees we have to pay for every transaction and the time it takes to get at least 3 confirmations, makes it a bad choice for transactions unless LN is used. So if a country or multiple countries ban cryptocurrency as a payment method, won't make much impact on the crypto itself. Because cryptos are mostly used as an investment almost everywhere in the world.

However, if the government decides to ban crypto completely and gives an upper hand to the banks to curb its usage, then we may see a severe impact as the circulation and buying demand will be stalled. That will put an extra pressure on the cryptos. But if the crypto is just barred from being a payment method but if citizens are allowed to hold it as an investment, it should be fine!

Lol! I don't think that crypto investors are so immature that the market will crash on the news of a quantum computer that has capacity of few qbits. It can't be! This is not the first time quantum computer made headlines in various crypto magazines.

We are currently going through a crypto winter cycle similar to what we have seen back in 2017 - 18 immediately after the ATH. It may go down further. But once the downtrend is over, the next ATH will be probably not less than 100k.

Exactly! We have seen the same trend in 2017 - 18 and it is repeating itself. But it's interesting to see whether the price breaks the previous ATH or not. But at the current price point, bitcoin looks really lucrative.

The stock markets around the world are taking hit from inflation. Bitcoin is not an exceptional asset because it's value is usually determined by the dollar equivalent. There's uncertainties around both narkets. Those who can buy more, will become huge in few years.

The tulip mania was based on aspirational value and the price of bitcoin is based on demand supply and production value. Both are different. Whatever experts have spoken against bitcoin, are the agents of banking industry. So I prefer not to look at them.

Also I disagree when you say 1k is a good buying price! Bitcoin will never go back to that price again. So it's wise to start cost averaging by buying in small units at the current price level. If you wait for 1k, you will miss the entire opportunity.

I would say otherwise. When big alts are buying bitcoin and using as collateral, it shows the power of bitcoin to become the reserve store of value within the crypto ecosystem. That's good for bitcoin because the demand stays strong. They could have purchased any xyz cryptocurrencies but instead they are buying bitcoins to back themselves. It's a positive! How it can be considered as a screwup anyway?

Cryptocurrency is not here to threat the traditional banking system. Defi is a different kind of lending which requires a collateral in the form of crypto. Can you take a home loan from a defi platform? Can you take a car loan from a defi platform? The answer is no!

Defi is here to exclusively cater the crypto community. It can't fulfill the need of traditional consumers and hence I don't see a threat to the banking system anywhere. Also it is not practical for anyone to move to complete crypto without the need of banking. Some exceptions can happen but largely it's not really a convenient mode of payment. So there's no competition itself.

There will definitely be an impact! But it's interesting to see if it's positive or negative! Addicted or professional gamblers will try to put more units of bitcoin in the table because of the low price. Hobbyists may stop gambling because their networth will go down etc.

It's hard to say what exactly would happen! But such a drastic price decrease will definitely have an impact on everything related to cryptocurrency.

The feeling is called - panic! I am not an investment advisor but I am also seeing red since yesterday. Today the entire day I am only seeing a great slide from 28k to 23k.

Am I worried - Yes I am!

Am I panicking - nope!

Am I buying - certainly!

It's a great opportunity period. Take it or leave it!

Nobody really knows what will happen next. It could go even below the current price range or it could have a resistance around the current price level. I mean anything could happen. But one thing I am sure about - it's a once in a lifetime opportunity to score more bitcoins at a low price and average out to an even lower price. This opportunity may not ever come back!