The problem with DEX is trust, I mean if the founder is known it won't be "the true DEX" as they will get pressured by government to comply with the regulation. Meanwhile, if the dev is anon, they can rug pull on us...
The tech is also a problem as there's no tech that is government-resistant or outside of the government boundary. If the DEX is big enough we can expect some raid and jail time. Don't forget that exchanges need banking support for in-out fiat, which means compliance with the regulation.
As much as we want to push DEX & anonymous ideology, I can't see it happening anytime soon.
Isn't IPFS and ENS censorship-resistant? I think it's possible to build a DEX using these technologies alone for complete peace of mind. The front-end interface of the exchange would be hosted on IPFS, while the domain name would be pointed to ENS. But I see what you mean. The vast majority of DEX projects are built using centralized infrastructure, making it easy for governments to shut them down at will. That, and also the fact that most projects have exposed the identities of their developer team. I know that something made by an anonymous person would raise a red flag, but we could say the same about Bitcoin whose creator is yet to be revealed. If people trust BTC even though no one knows who created it, then they can trust a truly-decentralized exchange built by an anonymous person or group of anonymous individuals. Let's see how governments' efforts to stop the revolution will turn out to be once they hit the wall of decentralization and censorship resistance. Either they join crypto/Blockchain tech or they'll get left behind in the dust. Just my opinion  |
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No altcoins can hold on because people will start selling their altcoins due to fear of the whole market crashing and not existing anymore. We'll also have people that'll be looking to accumulate bitcoin so they'll be selling anything that's available to them to ell to get as many Bitcoin as possible because they believe the market will recover.
If this was to happen now, I'll sell everything I have to buy Bitcoin because a bounce usually happens when a market crash like this. The market might be dieing but it'll still have some life of bouncing and then I can sell and wait on how things ends.
Bitcoin holds the cryptocurrency market together, every coins is trading with BTC and if Bitcoin was to fail then we can't have the cryptocurrency market anymore and this will be worst then the altcoins collapse we have witness before.
Exactly. Most people will sell their altcoins holdings out of fear from a total market collapse. After all, Bitcoin is the reserve cryptocurrency of the crypto market. Every altcoin has at least one BTC trading pair in an exchange. If BTC falls to $10, altcoins will drop massively until they become worthless. Not even ETH will survive. BTC has gone a long way since its inception, so the odds of it falling to $10 are very slim. With the halving right around the corner, you can say goodbye to "cheap" BTC for good? Who knows what would be the fate of altcoins as BTC becomes bigger and stronger than ever? Just my opinion |
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and if i may add, even if they added a privacy feature, we don't know to what extent they are really implementing the privacy protocol. they are adding such feature to sustain the interest of people. however, as you said, they still remain to be a meme token, wherein, its survival still depends on the team behind it.
There are other important things to focus on, than just adding privacy features to a "meme" coin. Why don't developers start by burning the token's supply? If they do that, SHIBA will no longer be worth less than $0.01. By adding privacy features to Shiba Inu, they will alleniate the project further from CEXs. Governments are strict against crypto/Blockchain tech these days, so they will quickly target anything they can't track or trace. Expect SHIBA to be de-listed across major exchanges once developers add privacy features on-chain. Let's see how long the cryptocurrency will last as people move on to the next big thing in crypto. Just my thoughts  |
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Yes, unfortunately we heard the bad news, Bittrex has been one of the oldest and best centralized exchanges for many years, it seems that the attack by the government of the United States of America will not leave anyone alone.
The CEO tweeted that due to regulatory uncertainty the exchange would cease operations in the US, but would not affect Bittrex Global.
Despite the unfortunate news, I see the news on a positive side, which is that in the end all these centralized exchanges and other services will migrate from the United States and its strict regulatory laws to countries that are more open to crypto, and this will be in the interest of crypto in the end.
The ones that will be most affected are not exchanges, but rather, US customers themselves. If all CEXs move away from the country, there will be no way to trade cryptocurrencies using US Dollars, unless you do it in-person (which is risky, and difficult to find someone you can trust for this). DEXs won't be an option, because they don't provide Fiat on/off ramps. Those that do are not truly decentralized. I really hope the US comes to its senses, in order to avoid behind left behind in the dust. Other countries are already way ahead of the game with their flexible crypto regulations. With Bittrex out of the scene, I wonder if Binance.US will be the next one to leave the country?  |
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What do you mean by one BTC will remain one BTC even if the demand decreases? Are you not aware of the supply and demand rule and how it works? The price of Bitcoin or any commodity or thing increases if that commodity or thing gets a higher demand if it has a limited supply, and the same thing happens in the opposite way if the demand drops.
The interest rising or falling may don't have any effect on the network and it will obviously continue to work stably, but that does affect the market in general, in terms of monetary value. Bitcoin and any other cryptocurrency with a limited supply need higher demand to have a further increase in its price.
Bitcoin was meant to be used as an alternative to Fiat in the first place. Not as something you can hoard for profit. Theoretically, 1 BTC will always be equal to 1 BTC no matter what. The problem is that people are measuring BTC's value in Fiat terms. If they did use BTC regardless of market prices, things would be a lot different now. I'm waiting for the day when the world ditches the "Fiat Standard" in favor of the "Bitcoin Standard". Once that happens, BTC will be used as the main unit of account (meaning everything will be valued in BTC terms, not Fiat). Why would I care about Fiat inflation, especially when it's doomed to failure? We should focus more on filling our bags with Bitcoin, as it's sound money that can't be controlled or debased by anyone. Supply is fixed to 21m units, so there's nothing to worry about. Who knows how far BTC will go in terms of mainstream adoption? Just my thoughts |
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I don't think that will happen even if they launch their own CBDC. Cryptocurrencies are now more like a financial market, a commodity, than a currency to compete with their CBDCs. Moreover, banning cryptocurrencies does not bring them any benefit at all and causes a huge loss of tax revenue.
If you notice the lawsuits, the recent US fines against exchanges are also civil lawsuits, which means they just want us to comply with their rules. They have no intention of criminal prosecution, resulting in a complete ban on us.
The government has more to lose by banning crypto completely than regulating it. China and Russia are already losing large tax revenues by prohibiting the use of crypto assets within the region. I think they will change their stance in the future, as crypto/Blockchain tech continues to grow in popularity. CEXs are the perfect "tool" for governments to collect a crypto user's personal information for taxation purposes or simply to view his/her trades for any suspicious activity. Without CEXs, governments will have no easy way to catch malicious actors on-chain. It will need to do more "digging" to get what they want. Don't expect the industry to move away from CEXs after the FTX implosion. CEXs will only become bigger and stronger than ever. While DEXs are an alternative, they're still far from perfect. At least, it's better something than nothing. As long as you don't leave all of your coins in an exchange, there should be nothing to worry about. Just my opinion |
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We need a tax amnesty. I want my money to be legal and I am ready to pay 10% of my money right away to make everything legal. But very few countries provide such an opportunity.
There's nothing wrong with paying crypto taxes. What's unfair or unjust is the high tax rates charged by most governments to crypto transactions, compared to traditional transactions involving Fiat. This is what scares people away from the industry. If taxes were flexible, everything would've been "reds and roses". It seems that regulations on the crypto industry will get stricter than before, so only time will tell us how would this affect crypto market prices. Major coins like BTC, ETH, and DOGE have nothing to lose, especially when their Blockchain ledgers are transparent by design. The ones that will ultimately get outlawed are privacy-oriented cryptocurrencies. Who knows what the future will bring to this nascent industry? Just my thoughts |
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I think it could definitely mesh together. Traditional banks are already evolving into digital banks. There are so many banks in the world that are purely digital and do not even have anyone that works for them in a shop, they are purely digital and that's it. Add the xchange mindset there, like be able to store bitcoin into something like that, you can have any fiat you want but you can have bitcoin and maybe eth in there as well? That would be something awesome to see and I would guess that there won't be a need to replace anything anymore.
This would be a solution to banks, they can continue to support crypto and they can make a lot of profit from it as well, should be able to provide a lot of profit for the banks we know right now.
From a "hodler's perspective", I don't think it's good idea to trust banks with your crypto. You can easily get your funds frozen or confiscated by the government. It greatly defeats crypto's original purpose of "eliminating the middleman". Banks are quickly embracing the digital world, so I wouldn't be surprised if they offer crypto services to their customers, especially if they want a "piece of the pie". If banks take this step, governments will surely regulate them with an "iron fist". Self-custody always wins when you want to avoid the "headaches" of the traditional banking system powered by Fiat currencies. But I'm sure most people will choose a crypto bank for convenience. Who knows where this will lead the industry in a few years? Just my opinion |
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Yes he certainly saw it in fiat value, but what I still find interesting is that he actually found a pizzeria that took the Bitcoin as a form of payment. Imagine you would call your pizza guy in 2010, nobody knows anything about Bitcoin and you tell the pizza guy that you are paying with "Bitcoin". Unless they know each other, which pizza guy would agree to take Bitcoin? He must have known at least a little bit about it or how would I even know what this Bitcoin is, what it is worth, where I can use it or trade it. I guess my Italian restaurant around the corner would ask me if I am joking (at least back at the time).
But looking back doesn't make too much sense. For entertainment reasons, yes, but I know quite some people who sold way too early. I am sure there are many people here on this forum who sold way below the ATH we saw in 2021. It's not necessarily about selling 100% of your holdings, but even parts of it would hurt. Resisting to sell is tough when you see those amazing numbers during those bull runs.
I was asking myself about that too. How would someone accept BTC as payment method at a time it was only known by a select few? The pizza guy must've truly believed in BTC, especially when many thought it was a fad or something temporary that would quickly fade away into oblivion. Anyways, it was brave enough for Mr. Hanyecz to spend a hefty sum of BTC on two pizzas even if that wasn't much in Fiat terms at the time of purchase. If he wanted to be rich, he would've held his coins until today. At current market prices, 10k BTC would be equal to $300,000,000. That's insane! At least, BTC was put to good use (which is digital cash). No matter its price, Bitcoin will always be there to bring you true financial freedom. Just my thoughts |
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Stellar Lumens team did many airdrops in the past and their airdrop distributions make XLM more decentralized. XRP is centralized owned by Ripple company and it is a big risk for XRP investors. In 2022 bear market, we saw how a centralized altcoin project like Terra could be killed by its founder Do Kwon.
Yes. I miss the good-old days when Stellar announced airdrops to help drive people into its Blockchain network. Now those days are long gone, leaving XLM behind in the dust. Why would anyone join the Stellar blockchain without any incentives? The chain doesn't even reward validators for securing the network. Besides the airdrops, Stellar used to have a feature called "inflation destination". Burnt tokens were sent to XLM hodlers on a daily basis. It served as a nice passive income stream until the Stellar developer team decided to remove this feature altogether. I guess all of this has diminished market demand for XLM. At least, it's not as heavily-centralized as XRP is. Time will tell us if XLM will last forever or fade away into oblivion until it becomes history.  Stellar looks really good if we check its chart. Not many altcoins can successfully reclaim their all time highs with a new bull run. Stellar did it in the last bull market by rising to almost $0.7 which is its 2018 all time high. Now its price is cheap about $0.1 and is it good to consider accumulating Stellar around this price just within next 12 months? Cryptocurrency market will be very bullish after a Bitcoin halving next year. Any advice? The supply of XLM is huge, so I wouldn't recommend XLM as a long-term investment. There's little-to-no development activity too, compared to other leading projects in the crypto/Blockchain space. Do your own research and you'll see what I mean. |
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22nd May is widely esteemed in the bitcoin network as it has found its place in the history. It was actually the day the famous and innocent looking Laszlo Hanyecz bought 2 pizzas with his bitcoin (10,000 btc).
While I have listened the interview of Laszlo and he did confirm and reaffirm that he has no regret giving out his bitcoins as high as 10,000 of it just for 2 pizzas. In his words he said "Someone has to start it all". Congratulations to him that he started it.
That being said, my emphasis is on how Laszlo saw and valued his bitcoin as of then. Obviously he had more than 10,000 bitcoin for him to offer to buy. I don't think he bought with his whole bitcoin. Meanwhile I read somewhere that Laszlo earned upto 100,000 bitcoin while mining with other early progrmmers and adopters of bitcoin.
I believe that Laszlo saw his 10,000 bitcoin as $41 and not as 10,000 BTC. AND that is how many of us see bitcoin today and including myself. In 10yrs time, we could have thousands of Laszlos among bitcoiners, but the difference is that we won't make history as Laszlo did.
I'm sure Mr. Hanyecz wasn't thinking about BTC's price in Fiat terms at the time of purchase. He was using BTC as digital cash. At the time, no one expected Bitcoin to become as popular as it is right now. It didn't come to mind BTC would become worth thousands of dollars (in USD) 14 after its inception. Satoshi never intended Bitcoin to be used as a store of value anyways. He created Bitcoin to be used as an alternative to existing Fiat subject to corruption and manipulation by central banks around the world. Using BTC to pay for food, is one of the many use cases the pioneer cryptocurrency has. I think Laszlo Hanyecz won't regret spending his 10K BTC worth nothing at the time (compared with today's market price). We should be thinking the same way as he did, by depending on BTC as digital cash. Not as a means to get rich in the long term. BTC has been a widespread success after all these years, so I'm pretty sure it'll become much more valuable in the future. Maybe it will get to replace Fiat in the long run? Just my thoughts |
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With the printing of fiat money that is always in constant motion by the powers that be.
As the fiat money devalues in value. The value of BTC and other cryptos goes up.
So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.
Does that mean we should be embracing the printing of money?
Make all our money go totally out of value, so anyone holding BTC can get good value?
Does this make sense?
Inflation is good because it helps scarce commodities like Bitcoin and Gold to rise in value over time. But it's bad for those who only depend on Fiat to survive. What costs you $10 now, might cost you $20 in the future due to inflation. Things valued in BTC, get cheaper in crypto terms but not in Fiat terms. You may think you're getting higher purchasing power over time, but that's not really the case. It's best to focus on accumulating more BTC over time, instead of simply "hodling" coins until they're worth more in Fiat terms. We can't stop banks from printing more money in the long run, so it's best to be prepared for the worst just in case. Just my opinion |
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As the Hong Kong Web3 Festival 2023 is ongoing, there are a lot of exciting news coming out such as the central government has lifted bans on cryptos and banks in HK start to support Web3's development (source: https://twitter.com/cz_binance/status/1646040621256245250). CZ, Binance's CEO also attended the panel meeting(online) and shared his views on numerous topics ( https://www.binance.com/en/live/video?roomId=2129188). With the support from both government and industry sectors, Web3 will be booming rapidly in Hong Kong and we can foresee that a lot of crypto investment will be flooding into HK very soon. Will this create a more bullish environment for altcoins ? Please share your opinions. By the way, I am with FireDAO team, in charge of the global community. Please let me know should you have any inquiries. Hong Kong's decision to embrace crypto with open arms is surely a positive thing for the industry. But something really big must happen for crypto prices to "explode". A country adopting crypto/Blockchain tech is simply not enough to move market prices to "hodlers'" own benefit. You can thank the deteriorating situation of the global economy for crypto's inability to reach a new ATH in price. The BTC halving of 2024 might not have that much of an impact on market prices either, if all else remains the same. Unless central banks stop raising interest rates and begin printing more money, crypto market prices won't be going anywhere soon. At least, we're off to a good start. The more countries join the revolution, the faster crypto/Blockchain tech will reach the mainstream world. This means higher market prices in the long run. No one can predict the future so we can only hope for the best. Just my thoughts |
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In 2021, if in a very good position, but now the price has come down a lot. When the price of Bitcoin goes up, the price of Solana Coin goes up a lot. However, the Saga smartphone will be released to the public by Solana Labs on May 8. The mobile is fully cryptocurrency friendly. The mobile also has special features and is built with hardware wallet. The market price of the phone is $1000. But this good news may not increase the price of Solana Coin much. If the price had increased then the price would have gone up as soon as the news was released. However those Solana holders can wait.
Solana lost a lot of value, ever since the Blockchain network experienced a series of outages without any fix by the developers. Add to that the FTX collapse, and you'll see why SOL market prices have been stagnant these days. I can't tell whenever Solana will "pump" in the future or not, especially when the crypto market is highly-unpredictable. But I can tell you that utility matters above all else. So far, the Solana project has been nothing but hype with its blazing-fast speeds and ultra-low fees. The launch of a new phone, adds more "fuel to the fire". Some NFT projects and dApps have migrated from Solana to other blockchain networks because of the outages. If this keeps up, adoption for SOL will decrease until it becomes a worthless "shitcoin". But who knows? Maybe Solana will "resurrect" from the dead, surpassing its ATH of over $200 per coin. That would be a huge gain for investors who bought SOL at current market prices. Considering that there's the risk of volatility, I'd suggest you diversify your investment to minimize risks of loss as much as possible. Just my opinion |
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Hi,
I am looking for a new position to start DCA into while prices are low and thinking of XLM.
Up until now had not really paid much attention mainly because I notice they didnt perform that well in the last bull run but I see this is now due to being closely linked with XRP who still have the ongoing case - or do I have that wrong?
Anyway, there is a lot of noise on Youtube currently for XLM - some saying it will do really well when XRP wins their case - is this likely?
With a current price of $0.10 I am just thinking of bagging 3 or 4 thousand and hoping it does a 10x or something if XRP wins the case.
Be good to hear thoughts on XLM, both good and bad?
XLM is quite an old cryptocurrency with a strong community behind it. The coin is very similar to Ripple's XRP. What differentiates XLM from XRP is decentralization. The latter is heavily-centralized, while XLM is decentralized. There's not much to it, considering that there are other competing chains delivering real use cases to the world. Developers aren't that interested in building dApps with XLM, unlike ETH or any other alternative blockchain network. Market prices are rather stagnant, especially when demand for XLM is quite poor these days. The IBM partnership made a few years ago, didn't have a positive long-term effect over XLM's price. I'd suggest you look for other alternatives if you're keen on growing your investment in the future. If you don't care about making large profits, and just want something that's fast and cheap to use for daily payments, then XLM is for you. Transfers on the Stellar (XLM) blockchain are much cheaper and faster than other chains such as BTC, ETH, and even Polygon (MATIC), making this a huge "selling point" for the cryptocurrency. Who knows how long will it last? Just my thoughts |
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paid Got it! Thanks again!  |
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Just look at altcoin's name itself and what it suggests, it means that these coins under the name altcoin are just an alternative of bitcoin.
That alone we can differentiate why investors are highly skeptical about altcoins compared to bitcoin. Of course, volatility is always there but the certainty that the selected coins will prosper is much lower in this bracket and as you guys have said, many coins nowadays that has almost no utility at all are existing in the market which again bring uncertainty to the investors. And that brings us back to the basic, we needed to have a thorough research and study if we're indeed looking forward in investing altcoins.
Altcoins are not as proven and tested as Bitcoin is. They're simply experimental grounds for the #1 cryptocurrency in the world (which is BTC). Investors know this, so they put most of their money into BTC instead of alts. Still, that doesn't mean it's the end of the line for alternate coins. They can be a highly-profitable investment if you know how to play your cards right. Just diversify your investment and nothing should go wrong. With many altcoins bringing passive income opportunities (ETH, BNB, among others), who'd want to miss the opportunity of a lifetime to become filthy rich? Ultimately, what matters is decentralization and censorship-resistance. As long as this is preserved, there should be nothing to worry about. Just my thoughts |
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The Chipmixer issue really is a big blow to the crypto mixer business.
They are one of the top and reputable mixers in this community.
So right now, we don't know how safe and secure they are once the government seized their operations.
You can try other mixers, but as you said, use small funds if it will go thru smoothly.
However, if you don't need this service, why not just use the regular trading platforms for your crypto needs?
Ask yourself, how badly you need the 100% anonymity that you will go thru via mixer services?
Using mixers is a gamble these days. You'll never know when governments will shut them down, or if you could get flagged by the authorities after using them. With crypto being heavily-scrutinized by regulators, we should expect mixers to disappear in the future (centralized ones, of course). Unless crypto/privacy advocates fight for privacy/anonymity, mixers won't be going anywhere soon. I'd "stick" with non-custodial mixers just to be safe. Some BTC wallets already have built-in mixing features (eg: Wasabi and Samourai) so there should be nothing to worry about. Who knows if governments give up in their efforts to try to take down crypto/Blockchain tech for good? Just my opinion |
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To make purchases with bitcoin is only worthless if you don't replenish your portfolio from times to times, through DCA, for an example. But if you are constantly acquiring new portions of BTC, it won't be an issue to pay for goods and services with bitcoin, as it just mean you are swaping fiat into crypto to use it as money on the present moment, without prejudicing your long term profit potential.
The pizza guy who spent 30 bitcoins was mentioned, but even him shouldn't feel bad about it, because if he had 30 BTCs for a pizza, I believe he had much more for holding purposes... It wasn't spending 30 BTCs in a pizza that prevented this guy from getting millionaire through BTC and it won't be your daily purchases with BTC that will prevent you from profiting from the investment futurely.
The guy who paid 30 BTC for pizza never thought the cryptocurrency would become as valuable as it is right now. He just considered Bitcoin as a currency. Not a long-term investment or a store of value. The original purpose of Bitcoin is to be used as "Peer to Peer Electronic Cash", so I don't get why people are so focused on its market price. 1 BTC = 1 BTC, right? Unfortunately, the world is reluctant to switch towards the "Bitcoin Standard", so most people will either spend or "hodl" BTC depending on current market conditions. If you're really worried about losing purchasing power in the short term because of the volatility, then use stablecoins instead. BTC is growing in popularity each day, so it should only be a matter of time before a wide number of merchants worldwide accept it as payment method. Just my opinion |
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Honestly cryptocurrencies like now acts like stock, it's just being largely used for investment, some even call it commodities, I doubt it could ever replace bank, meanwhile i'm sure majority that invested in crypto would still actively use their bank so no, it will never replace that even in the future.
Most people see crypto as an investment tool. Not as a currency you can use for daily payments. This sentiment is what prevents crypto/Blockchain tech from achieving its full potential. If people started using crypto as currency, banks' existence would've been threatened by now. Unfortunately, that's not the case. Thus, banks will only grow bigger and stronger over time. Don't expect crypto to go anywhere soon, especially when it's decentralized. It can never replace Fiat this way. I'm fine with that as long as crypto fulfills its promise of bringing banking to the unbanked. You can be your own bank with crypto anyways. So why care about traditional banks subject to corruption and manipulation? Just my thoughts |
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