Thank you , I am aware of it but I would like to know how many are in circulation and trading and how many are in cold wallets with holders! Is there any precision data in this regard?
You can't know if a coin is in a cold wallet or in a hot wallet, only the owner knows it, from the outside view it's the same. What we can know is the rough estimate of coins in wallets of big exchanges like Coinbase, and we can assume that majority of those coins are actively traded, but even here some percentage of users actually use exchange accounts for long-term storage, even though it's a bad idea. Coins in self-hosted wallets could also be actively traded, this can be spotted if they are moved frequently. If I were to calculate an estimate for the circulating supply, I would look at all UTXO and consider all coins that haven't been moved in last 2 years as non-circulating, except for coins that belong to exchanges. |
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Lightning transactions are much more anonymous that on-chain Bitcoin transactions, and allowing anonymous donations is a very bad idea, it's a very easy loophole for corruption. Maybe it could be solved by requiring some KYC, but is all this extra work worth it? What are the benefits of political donations through Lightning, as opposed to existing methods?
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When I purchased early on, the price for a btc was $11,000 . a few months ago, I can recall the price level
was $63,000 . I just knew that it was going to hit the $100,000 mark...Now as of today its $30,180
What is going on??? Also, can anyone predetermine if the btc will reach the $100,000 and is the btc
worth the investment...An educated guess, is acceptable!
You can't predict the future performance by just looking at the past performance. Bitcoin goes up until it doesn't. And Bitcoin also goes down until it doesn't. There's a good reason to believe that on average Bitcoin will keep increasing in its value over long period of time. It's not 100 guaranteed, it is based on the fact that there's a growing demand for Bitcoin, while its supply is limited and predictable. So it is worth investing and holding, just have patience. |
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Free cash? You mean fiat, he can be able to convert some bitcoin to cash if he wants, I can easily convert bitcoin to cash if I want. Also he can easily convert bitcoin if he wants to invest in other assets like gold. I do not see anything bad to leave his asset in bitcoin but it will be good for him to know how the price of bitcoin can be volatile but leading to all-time-high again.
Yes, it's stupid to not own any fiat. Any investment can crash, especially Bitcoin, with which it happens regularly, so converting it to fiat might be forced to be at a loss. A strong fiat currency like USD and Euro is not going to lose its value overnight. Inflation is predictable. Some altcoins have value but just that we do not know the next that will follow luna, people should only risk what they can lose on altcoins, that is how I see altcoins.
Risks should be managed in a way that a potential reward is higher than the downside. With altcoins there's only downsides. They have no future, no one uses them, no one will use them. In 10 years globally nothing changed with altcoins - they have no adoption. |
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Asset just means "a valuable thing". Every currency is an asset. Currently Bitcoin's most popular use is buying it and holding to get profit, aka store of value asset. It is used as a currency, but it's not common, so right now Bitcoin usually is not considered a currency, even though it was designed to be one. So the answer to the question is Bitcoin a currency or not depends on the context.
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Putting literally all your money into Bitcoin is not a good idea, not in a sense that you should buy some alts, but in a sense that you should have other investments and free cash. Rule #1 is to never invest what you can't afford to lose, and no one can afford to lose all their money.
And as for alts, no one should be touching them, newbie or not. Fundamentally they have no value.
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What I see is more poor countries trying to take a huge risk to get out of poverty. Which can backfire if Bitcoin will have a multi-year-long bear market. And overall not a sound plan, because national wealth is created by citizens who produce goods and services, it doesn't come from governments speculative investments. You can adopt Bitcoin as a legal tender all you want, it won't change anything.
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4. KNOW THE TYPE OF COINS TO INVEST/TRADE IN; personally i don't encourage huge investment in unstable coins. Coins with long term potential are advisable. Smaller cryptocurrency actually bring huge gains in a short time frame but it's risk are huge than the stable coins. Although it is quite hard to dictate which coins can stay up for a very long time, the most common long term coin is the Bitcoin, which has the potential to recover after market crash. Some of the tips on how to identify a long term coin are;
On its surface, it looks like a solid advice, but the reality is different. Take the recent example, Terra Luna. It looked like a "good project" with a solid team, good potential, etc. etc. And yet it failed catastrophically. Why? Because altcoins in their core are unsustainable. They have zero real users. No one needs them in real world. 100% of their buyers are cryptobros who want to sell them at a higher price. This makes altcoins just a gambling device. |
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Stablecoins are not exactly competitors of Bitcoin in all senses, because they don't have their own value, their value is the value is the value of a fiat currency that they represent. So, if we talk about store of value coins, coins like ETH are trying to be a competitor of Bitcoin, and Bitcoin still dominates. Bruh, after what happened with UST, I wouldn't talk for a few months about "stable" coins, and certainly not how they are the "pillars" of the cryptocurrency market.
Algorithmic coins are prone to attacks where it's profitable to crash the market with some clever trick. Centralized stablecoins could be just printing money out of thin air, or they could be closed down by authorities, or regulated almost as tightly as online banks, which negates most of the benefits of cryptocurrency. |
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Why wouldn't it? One of the reasons that BTC dropped is because Terra's LFT sold a crap ton of their bitcoin holdings in the hopes of returning the UST peg to $1. So of course bitcoin would drop due to the sell. It's not like this altcoin dropped and bitcoin just followed suit because why not.
If a single entity can so easily amass enough coins to crash the market at will, that's a problem. Imagine what would have happened if Saylor suddenly dumped all his coins? Basically, Bitcoin market is still very far from being mature. Gold is a store of value because it never crashes by 20% in one day. So Bitcoin still has a long road ahead until a broad audience will trust it. |
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The argument that the pattern has been broken works both ways. Because we're in uncharted territory, now many scenarios can not be excluded, even dropping below $20k. Just like a sudden bull market can not be excluded too. But if we look at the 2021 run, it happened during the hype about institutional adoption. Nowadays there's no hype, in fact the world is laughing at cryptobros who lost everything. I don't think it's possible to have a bull market in a severely negative media environment. |
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The fact that a shitcoin caused a serious crash of Bitcoin price only makes it worse. The narrative is that Bitcoin is a store of value better than gold, a hedge against inflation and declining fiat, but what we see instead is that some scam project managed to wipe 25% of Bitcoin's value. Of course it's temporary and sooner or later Bitcoin will go to the moon again, but the fact that Bitcoin doesn't have stability and resilience is pretty bad.
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Satoshi created Bitcoin, but he's not the only one who was developing it. Since the release and Satoshi's disappearance, lots and lots of other people were working and are still working on this project. And Bitcoin is an open source project, no one found any malicious backdoors that could be used to suddenly take full control over the protocol or something. So, from a technical point of view, it doesn't matter who Satoshi is.
The worst thing that can happen is a severe reputation damage that wound hinder the prospects of adoption and price growth.
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There's a ton of ways to buy Bitcoin - exchanges, p2p trading, Bitcoin ATM, personal meeting, DEX, automated exchange services, chat bots. They all have different fees, ranging from zero to single-digit percentages. Also keep in mind the risks of scams - they are low with more reputable exchanges and high with less obscure ones or some forms of p2p trading.
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Inflation or no inflation, investing money that don't belong to you is pure idiocy. Same as investing money that you are saving for an emergency, education, housing or other goals. The golden rule of investing is to never invest money that you can't afford to lose.
Taking a loan is only acceptable if you have enough other assets that could be liquidated to bail yourself out in case of a loss.
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I wouldn't view Bitcoin in general as a field that can and should be mastered. This is the case for Bitcoin development, but not the case for using Bitcoin. You don't need to know any C++ and cutting-edge algorithms to send transactions and avoid getting hacked or losing your wallet. And the ability to understand Bitcoin source code or Lightning Network developments won't help you with predicting the price.
Having high rank and high merit count is not a sign of a Bitcoin expert. The real Bitcoin experts are the people from Bitcoin dev mailing list, github, IRC channel, stackexchange.
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Bitcoin can have value even if zero people would use it for payments. I'd say that value isn't even far from what we have now. People buy it because they believe it will be worth more in the future, and it turns into a self-fulfilling prophecy and a feedback loop.
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Unfortunately we have seen one of the biggest scam/failure of the project LUNA /UST where people have lost million/billions of dollars invested in them. We can't foresee such incidents but one thing is that if we follow the best practices of portfolio management, we could have minimize the loss.
You can foresee such incidents by not investing in altcoins. No crypto assets in our portfolio should be that big, that in case of a mishap, our whole portfolio get a big hit. Also this means not to put all eggs in one basket in our crypto portfolio.
Diversification doesn't work in crypto. Altcoins are nothing more than gambling tools, they get used and then thrown away when new ones arrive. You can invest in 10 different altcoins, but the outcome will be the same - they will all lose most of their value sooner or later. |
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Somehow people never say that 1 BTC = 1 BTC when it's the bull market and everyone is fixated on its USD price, but when there's a bear market, we should all forget about USD price  This crash like any other bear market shouldn't be downplayed. It's a sign that Bitcoin still operates on the basis of speculative boom-bust cycles, so it's not really a strong safe haven asset that can rival gold. Sure, Bitcoin will recover and reach new highs, but it doesn't mean that crashes like this one don't matter at all. |
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Call me a Bitcoin maximalist, but I view all these algorithmic stablecoins as just a new and more elaborate method for scamming investors and traders - we've seen quite enough rugpulls, hacks (that could be just inside jobs), premine dumps, pump and dump schemes. So the fact that some shitcoin project owns a lot of BTC to support the price of their token doesn't mean anything - in the long run they will have to liquidate more and more BTC to support the price. I don't see any reason why would the masses want to adopt this token, and that's the thing that most people ignore - it doesn't matter if a token has web3, NFT, smart contracts, zero fees and all the other stuff that is there to attract investors; without real users such product is doomed.
My comment aged well  This isn't the first time DeFi and algorithmic token resulted in a disaster, and not the last one. I don't think Luna will make it to live again because it has gone as far below 0.04 as at this morning
It's below one cent, 0.008. I find it funny how a lot of bagholders that are screaming now about how this has happened were the same people mocking Warren Buffett on Twitter for being an old fart and not understanding how revolutionary Defi is. And average crypto enthusiast knows nothing about the technology and how it works, they invest purely on endorcements and popularity of hashtags. The altcoin and token market is just one big HYIP, people just refuse to realize it and still want to believe that it's a legitimate industry. |
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