I like the fact that it has remained intact since the beginning. Nothing has changed since I first joined in 2014, and even if you look way back, there were minimal changes. It's minimal, functional, and loads quickly. That's its beauty. It didn't have to modernize itself. I like that many people here get paid to participate. What other website can you make a post from the toilet and earn a few dollars? It's a shame that the quality of content isn't taken into account in these payout structures, but it's still a cool thing. Granted, it could be improved upon a great deal and benefit more users if it were managed by the forum, but it's still the reason a majority of posts are made here and that keeps things humming along as the information base continues to grow and gives users a chance to support projects and products here by purchasing them with funds from forum participation.
It's certainly the only forum I've seen featuring such an opportunity. However, posting quality has severely improved after the merit system was introduced. Those lacking merit couldn't rank up and were rarely accepted into decent campaigns. The altcoin discussion board is more prone to spam posts. My best guess is that it is due to the abundance of bounty campaigns being offered. I don't really know to what extent of a hysteria posters will be thrown into if all signature campaigns make it a criteria to qualify eligible posts. Those edited will be disqualified. I believe it will cause the type of panic introduction of the merit system caused.
As long as signature campaign managers are doing their due diligence before accepting someone onto their campaign, then it really isn't an issue. Ideally, they should already be hiring quality posters, and editing is something that we all do. Plus, I doubt many users abuse the ten minute period, since they would've just posted whatever they edited to in the first place. It's mainly used for correcting mistakes, since reading your post after the preview I find highlights more mistakes, not completely sure why that's the case, but I guess it's just sod's law. I recently created a thread abusing the edit function. As long as you do not post bursts of gibberish in an attempt to edit your posts later, you'll be fine. Myself included, have edited posts well after the 10 minute grace period, either because I found a grammar mistake which I hadn't seen beforehand, or because I forgot to add a tiny bit of information. I am not going to alter the whole meaning of the post, nor will I edit its content a whole day after its creation, but a few minutes after posting it is fine. |
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The yields on staking stablecoins usually tend to be really low. In Terra's case they had billions of dollars from the Luna Foundation to subsidize higher yields for a while until it collapsed. Some decentralized exchanges will incentivize you with their own native token to increase yields but those tokens usually dump hard and that extra APY will be reduced so much it is not worth it to stake stablecoins. If you only care about APY then centralized exchanges will be the better option in the long run.
You can't expect a vault or coin that is pegged at $1 to have excessive yields. There were some algorithmic stablecoins that offered great yields in the past but were quite risky, and I'm not talking about UST, but for BoltDollar (BTD), MonsterSlayerCoin (MSC), or even Iron.Finance. The first one made more than $1,000 in less than a month, while Iron made $200 in a month before getting hacked on Polygon Blockchain and being removed entirely. I currently have very limited time and haven't bothered moving my funds to Beefy yet, but I noticed that the safest options on Beefy have also decreased APY, averaging 8–10% at most, compared to 10–12% a week or so ago. It's still better than Binance's, because it's covering the whole amount. |
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This led me to believe that they had attained the highest rank and didn't require merit to move up. They can contribute whenever they want or not, and even provide detailed answers to questions that deserve to be answered.
OP, are you familiar with the history of the merit system, i.e., when it was implemented, what the forum was like beforehand, and why Theymos created it? It doesn't sound like it, but you'll probably get all the answers you need from the replies here and I suggest you read them all. My answer to the above is that there were tons of Legendary members prior to the merit system (before Jan. 2018), and they didn't have to earn merits to get there. Any member who was below that rank on the day Theymos came down from the mountain and bestowed upon the shitposters, account farmers, and all the assorted reprobates his tablets of merit requirement, they immediately had to earn merits in order to get there. If you were a Hero member the day before and were right about to rank up, you then had to earn 500 merits to get to Legendary. Obviously it was, and still is, much worse for newcomers to the forum. But to your second statement above, anyone can contribute whatever they want, whenever they want. That's not exclusive to Legendary members. Nobody needs to rank up. That's a requirement people put on themselves, usually because they want to maximize their campaign/bounty earnings. What I’m curious about is that only a few legendary guys are always active in the forum and providing lasting solutions to questions posed in the forum. Others that are active only post to complete their signature posts. Does that imply that after getting to legendary rank, making posts or comments to be merited is not necessary again?
Not sure what sections you frequent most, but there are plenty of Legendaries posting all the time. Sure, many of them who've been members for years are less active, but that's to be expected. People lose interest or have less time to participate in discussion forums all the time. And once more, it isn't necessary for anyone to post, earn merits, or anything else on bitcointalk. Members you see posting very rapidly or very prolifically are usually shitposters trying to hit their campaign's post quota for the week. Again, those are usually the members with the least to say. As others have already suggested, OP's statement isn't true. I've noticed that legendary members still acquire a ton of merit, despite not practically needing it in order to rank up, but because they're worthy members of this community. I think there's even a thread here showing how merit has been distributed. Although it may suck for newcomers, I didn't find it too hard to rank up. I was here before the introduction of the merit system and had managed to rank up to Sr Member. In approximately 2017 or 2018, the merit system was introduced. I a little after Bitcoin's crash, which took away all my interest in Bitcoin. I quit shortly after, not because of the merit system, but because I completely lost my faith in Bitcoin. Signature campaigns were much more popular back then and finding one wouldn't be that much of a hassle, but most of them were paying in terms of BTC and not USD. Thus, the rewards were minimal due to Bitcoin's value. At least in the campaigns I participated in. I returned in early 2021, during the Covid-19 quarantine and after Bitcoin had skyrocketed once again. I didn't have any merit except the 250 I was distributed due to being a Sr Member. Within approximately 1.5 years, I earned more than 250 merits without acknowledging too much of Bitcoin's technicalities in order to further assist the community. I didn't have too much available time between university and a full-time job, but I managed to rank up by trying to make worthwhile discussions and posts and being patient enough. |
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As easy as it may sound, I find it a cliché. Don't get me wrong, I support that you should do whatever pleases you despite your age, but usually, we don't have the courage nor the stamina to do it. Personally, I was interested in participating in another bachelor's program regarding environmental and climate change, a doctoral degree perhaps, or at least a second Master's degree. I don't want learning to stop. We should constantly acquire new knowledge. That's how I see things. However, after spending 5+2 years studying and working throughout most of my university years, I can't find the courage to continue. I'm not in the right mental state nor have I settled on what I want to do in the future.
I always had trouble making decisions. Taking a decision that concerns your future career path is extremely challenging and one that I'm currently incapable of making. I'd appreciate any advice, but personally, it looks hopeless to me.
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Too bad, some of the countries are reverting back to coal power, if I remember correctly there's a news about Germany slowly dismantling their nuclear powerplants and they are continuing their reliance on fossil fuels for electricity. Hopefully it's not a big impact but we know that some countries will likely follow them.
We also had to revert back to coal in Greece. Due to the energy crisis, coal factories that had closed down have now reopened. I'm all for renewable energy sources and green energy. However, I've found it pretty common (at least here) that green energy is disrupting the environment and we must find a way to overcome it. In particular, Greece is known for installing wind turbines in forests that were previously burned in wildfires (I hate to act like a conspiracy theorist, but in some cases, it has been proven that such plants were planned before wildfires occurred). On top of that, their installation requires heavy equipment and the creation of larger roads for transportation, while it's also claimed that it disrupts fauna and flora wild life. We live in the innovation world, we need to find a way to overcome such challenges, because green energy is the future, we can't rely on fossil fuels forever. We can't have green energy hurting the environment in the process, it's hypocritical. |
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While Bitcoin consumes a decent amount of energy (less than 1% of total energy consumption). While this number may sound insignificant, Bitcoin is claimed to consume as much electricity as the whole country of Brazil (the source of this claim hasn't been confirmed). Certainly, there are numerous other activities that consume much more energy and are more harmful to the environment, but that doesn't change Bitcoin's impact.
However, the world is slowly shifting to renewable green energy, and Bitcoin will eventually switch too. Not only will the environment benefit, but also the miners themselves, who'll be able to enjoy the benefits of lower electricity costs.
Scandinavian countries are great examples of countries depending on green energy. Perhaps it would be ideal if mining operations occurred in such countries in order to reduce Bitcoin's carbon footprint.
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~snipped~
If you feel Beefy is safe and better than binance then you can switch to Beefy. It is normal for APY to adapt to the situation. Do you want to be like UST?. APY is high but at some point it is not enough to pay interest causing mass collapse that cost us everything. I would still stay with binance, even though APY let me down a bit, but in return I feel safe in binance. It's perfectly understandable for APY to fluctuate. There was no guarantee that it would be stable forever. However, even locked-interest plans have been severely affected. They guaranteed a 13.3% APY a couple of months ago and were always unavailable and/or had a very limited available quota. Now it's down to 4.7%, while flexible savings is actually less than 5% APY for anything over $1,000, which is close to nothing. While I prefer Binance's safety, I'm going to try and diversify my money by starting to deposit some of the allocated funds on Beefy. The current APY is too insignificant to bother. |
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I'm officially pissed off right now. Yesterday I logged into Binance and noticed that I had received less interest than expected, but I was too sleepy to bother and didn't think much of it. I just went on savings and Binance has decreased the APY once again, but in a sneaky way that my sleepy brain didn't notice yesterday. 8% APY now applies only up to $1.000, instead of $2.000. My profits are currently cut right in half, and I'm not going to tolerate another reduction. I'd rather find a vault on Beefy.  |
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Honestly, I enjoy having my money on my personal computer without it being able to be traced back to me. It works as a savings account, your own personal bank, as you mentioned. It's such a shame that Lebanon is facing this. Your money is simply being held hostage. We had something similar in Greece a few years ago, with capital controls. You were unable to withdraw large amounts of money, and it was only possible to withdraw specific amounts every week, till the restrictions were lifted. They lasted over 2-3 years, if I remember correctly. However, as the following user suggested, it doesn't protect you from being mugged. Bitcoin doesn't remove the risks of you getting mugged. If anything, it's potentially worse with bitcoin/crypto. They just hit you with a wrench at your home until you give up access to your wallet. Hence why being private/secretive about your holdings is very important! https://cryptosec.info/wrench-attack/A general rule when it comes to moneymaking is to be silent about it. Either with Bitcoin, assets, or fiat currencies, it's best that people do not know that you're wealthy. I've heard quite a few instances here where people were mugged right after withdrawing from their bank accounts. If you are not cautious, you may be forced to give up your Bitcoin wallet as well. The same rule applies to everything. Let me remind you that in the past, they used to hide money inside mattresses. |
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This is actually a great topic. We had this specific discussion a few months ago during a course for my Master's degree. We reviewed the latest edition of "Health at a Glance," a book by the OECD, which offers an extensive collection of indicators for OECD members and major emerging economies' population health and health care system performance. These cover health status, health risk factors, availability and quality of care, and health resources. Below, you'll find how life expectancy significantly rose between 1970 and 2019 and how it suffered during the Covid-19 pandemic, with most surveyed countries facing reductions in just two years. The largest reductions in life expectancies can be found in the USA, Spain, Poland, Italy, and Lithuania, while Norway, Japan, Costa Rica, and Finland actually recorded a slight increase in life expectancy. This is actually a great scientific book, and I'd advise you to go through it. It provides a great deal of interesting indicators regarding health subjects.  |
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What a nice survey, 47 votes for "no", 0 for "yes" and 0 for "unsure". The forum might be a bit biased, but why would anybody really say that crypto currencies are dead? The bitcoin price right now is at 19,858 USD. If cryptos were anywhere close to dying or already dead than the price should be below 1 USD. And this is not going to happen anytime soon. The world is still full of people who are believing in cryptos and would happily start buying bitcoins if the drop anywhere close to 1,000 USD. I am sure that we are not going to see the end of crypto currencies in general or bitcoin in particular during our lifetime. Even if 99% of the world population is not interested in cryptos anymore, as long as there is 1% who uses cryptos it won't be dead.
You're in a forum named after Bitcoin. Would you expect people to be against it? Certainly, OP's statement is quite bold to agree with. I would be surprised if someone here believed that cryptocurrencies are about to die. Personally, I'd agree if you told me that Bitcoin and cryptocurrencies would go through a tough time for the next 1-2 or even 3 years, but would they die completely? Not a chance. Cryptocurrencies have evolved in the past few years, with a few countries now legalizing them as a means of payment. Even huge corporations such as Revolut or PayPal have integrated them into their services. PayPal, one of the largest payment processors, provides you with the ability to trade cryptocurrencies. It's a huge step towards digitalization and cryptocurrency adoption. |
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Charts have shown that Bitcoin always recovers. While that doesn't guarantee its recovery in the future, it's good to know. Regarding the scams you mentioned, they have nothing to do with cryptocurrencies. Electronic scams take place where money can be made. They have existed since the dawn of the internet, but cryptocurrencies keep taking the blame for everything.
To be fair, as you correctly pointed out we're in a recession, and probably the biggest one of most of lives. Therefore, charts can't be relied on even more than normal. So, while Bitcoin historically has shown it always recovers, and lot of users have time periods that they can reference, and compare. It could be vastly different this time due to the recession. Buying power obviously dips during a recession since people are struggling to live, let alone put their money into a developing currency which is extremely volatile when you compare it with traditional currencies. So, in the same light; Bitcoin isn't the only thing that's going to see an extended decline, but also stocks, and other investments. It certainly looks like it's going to be way worse than the recession we experienced through 2008-2010. That doesn't look appealing. Certainly, you can't rely on historical data and hope it's repeated. The macroeconomic environment is rapidly shifting, and the situation now is a lot different than the one two or more years ago (Covid-19, War in Ukraine, etc.). Our purchasing power has severely decreased due to the increased living costs. Groceries, fuel, and electricity have all skyrocketed. It's perfectly normal that investments come second. All investments have been affected. A decent example is the S&P 500 index. It's been showing steady growth since 1975 (that's the earliest I could find in charts) but is now experiencing major losses, similar to Bitcoin. |
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Scams? What exactly are you talking about? If you're referring to altcoins, it's expected because anyone can launch their own token. The economy is going through a period of recession on a global scale. You can't expect cryptocurrencies or Bitcoin to be performing at their best. If we're patient enough, we're not going to regret it. Charts have shown that Bitcoin always recovers. While that doesn't guarantee its recovery in the future, it's good to know. Regarding the scams you mentioned, they have nothing to do with cryptocurrencies. Electronic scams take place where money can be made. They have existed since the dawn of the internet, but cryptocurrencies keep taking the blame for everything.
Let's not forget how many pyramid schemes are out there, scamming millions of dollars with little to no action taken against them. Yet, there are people focusing on some random token that rug-pulled and scammed its users.
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Unfortunately, I'm not a merit source, nor do I have a lot of sMerit to give away. However, as a way to thank the community and those who helped me reach Hero Member, I'll be donating all my sMerit (61) to newer members that are close to ranking up. I'll do a short review of your posts, and if I find any discussions that are worth meriting, I'll give you a small boost.
Uh...bruh you don't have to post about it, so you don't start receiving pm's of people begging for merits, you could post it if you probably are starting your personal topic to review members' posts, but that will not be necessary as you are not a merit source. Sendable merits are meant to be given out, i know some members hoard it and that's wrong, so do not see it as you are 'donating' your sendable merits, you are only going about the merit system the right way, and hell, 61 is a lot of sendable merits, you probably have not been spending too much of your sendable merits. Cheers anyway. Just like you said, I'm not a merit source to start my own thread, but I honestly don't mind receiving pms. If they are not worth meriting, they won't receive any. Merit isn't supposed to be hoarded, but many users, including myself, do not use their sMerits to their fullest. Looking back on it, I should have spent more sendable merits. Don't get me wrong, if I see a worthwhile post, I'm definitely meriting, but sometimes I tend to forget the importance of sending as much as you possibly can. Certainly, it's not donating, since there is no use for myself, it's supposed to be sent. I never intended to hoard it. My time has been pretty limited the past few weeks, but I'm planning to spend all of it till the end of the month, hopefully helping a few worthy users to rank up. |
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Good inspirational share OP.
Just for clarity. You mentioned that you invested worth $10,000 from your $300 monthly salary. That's like 2 years and 9 months of savings without even touching a single amount from your salary? I am just confused because you hinted that you came from a poor family so it is hard to imagine putting all your monthly salary into savings. Unless you worked as a delivery guy for like more than 5 years before investing in bitcoin so you can save half of your monthly salary?
Congrats anyway OP. We look forward to the next bitcoin ATH that will change more lives again in a positive way.
The math doesn't quite add up, but the OP might have had previous savings that he used to purchase Bitcoin. Anyway, I'm happy that OP achieved great results from his investment. Personally, I've never used a single cent of my own money to purchase Bitcoin or any other coin, at least not any large amount that I can think of. I made every single satoshi I have from scratch, starting from hoarding faucets in 2013, to being introduced in signature campaigns and altcoin mining. It's been an amazing journey, which started from my teenage years till now, that I'm a university graduate. Bitcoin kept me company all these years and has provided me with great earning possibilities for a young adult who now has a decent portfolio, which is acting like a savings account. Honestly, if it wasn't for Bitcoin and this forum, I'd be experiencing severe anxiety due to the increasing living costs and inflation. |
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Staking decision is certainly based on its market performance. I know that still there are stablecoins that are worth trusting and profitable.
(.....)
Include the platform where you will stake your stablecoins and the asset you chose. One of the examples here is the UST before with huge APY on Anchor. The APY before was around 20% and when the disaster started to happen to UST, the value of UST is dropping and the drop could reach -20% in just a few hours or a day. It's not worth it, even if you stake to some centralized exchange, you still can't guaranteed how safe they are. I was actually planning to use one of the following: https://app.beefy.com/vault/velodrome-usdc-dolaor https://app.beefy.com/vault/spell-mim-crvSecond one looks a little more safe. Honestly, when UST was offering 20%, it didn't seem too exaggerated because you could easily find other vaults at 15%–18%. The one I had my money on consisted of BUSD and UST. If I am not mistaken, it was achieving an average of 15%. Due to being made of two coins, it severely minimized my losses when UST crashed. If I were to chase the 5% more in APY, I'd be screwed. Did you refer to Binance? Their assurance only work if the hacker didn't steal the whole Binance money. If the hacker can get the whole money Binance have, their assurance are useless since they need to recover their operational first, not their customers.
Binance sounds safe enough, I highly doubt that something like this could ever happen. Even if it did, they would be forced to reimburse their users. yeah the TVL(total value locked) can be indicator as well how much people that deposit into that vault.
I actually have try beefy for several time and it work pretty fine to me and after I checked the link that you give above that beefy give two insurance for the vault the insurace.io and nexus mutual i think its safe. but if the APY don't have huge different between Cex you can choose CEX since they regulated by government
UST at the first place was algorithmic that pegged with their native coin LUNA. we should aware of this and try to move to other stablecoin and i think we also need to diversified to other dollar-pegged stablecoin not just focused in one.
Thus, it's best to look for a vault with a high TVL, since it's showing that it's trusted by investors, right? CEX looks interesting but offers very limited options, some altcoins and their savings sections are yet to be activated. |
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Unfortunately, I'm not a merit source, nor do I have a lot of sMerit to give away. However, as a way to thank the community and those who helped me reach Hero Member, I'll be donating all my sMerit (61) to newer members that are close to ranking up. I'll do a short review of your posts, and if I find any discussions that are worth meriting, I'll give you a small boost. Sadly, I don't have much to give away, but I'll do my best to help a few members at least. There's no point in hoarding sMerit, so I might as well hand them back to the community.
I was overjoyed to finally reach Hero. It's the least I can do.
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Beefy is not a well-known platform to stake. UST belongs to Terra we all know what happened to it. There are stablecoins to each platform that you can stake but staking stablecoin right now might not be a good idea since we can see prices are bullish.
We passed to the point of the lowest prices of crypto and converting them USDT to staking coins could be profitable. I bet the majority who have ETH after the merge will consider staking thier ETH even in the exchange pools.
How come? Beefy is one of the largest platforms, personally had no issues. I've also used Supra, but decided to stick to Beefy. While I understand your point regarding stablecoin staking, currently I'd rather not use that money to invest in other coins. I might change my mind later, because I'm ultimately starting to consider buying BTC or ETH but for now, I'll stick to staking. There's always the possibility of losing your investment, even in Bitcoin. I was also staking when BTC reached its ATH. If I had purchased during the dip at $50.000 or even $40.000, I'd be at a huge loss now (over 40-50%). The opposite can happen too, but it depends on whether you want to take the risk or not. Taking both risk of holding centralized stablecoin and the platform you stake only to earn 10%-15% per year is doesn't worth IMO. I'd say it's better for invest in banks and lock for around 3-5 years since it mostly give you around 5%-10% interest rate and there's a guarantee that your money will be back 100% because of insurance. Holding Bitcoin for long term are better option even though the risk is during dump market.
Since when do banks offer 5-10% interest rate? The most you can get here on timed deposits is 0.03% to 0.10%. I'd rather invest my money on some random coin than deposit it in a bank. I've been staking stablecoins on Binance and even though the rewards aren't much, they're passive income for me. There is no problem with the reward. I'm sure it will get bigger later because I do auto staking, where when I get the reward from staking, it will stake together in the next staking (correct me if I'm wrong). On Binance, there are several stablecoins you can use to generate more stablecoins and so far, I haven't had any issues.
The only options I've seen for stablecoin saving/staking on Binance are BUSD and USDT (both offering 8%) and USDC which offered 1.2% the last time I checked, please, correct me if I'm wrong. |
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You could buy now if you think you will still be alive by 2030, I guess you are lucky to benefit as the price will be 0.06$, that's still worth the wait. You can also prepare the tokens for your kids as their birthright. I don't really see the use of BTT and why investors will be interested in it since even when we don't have BTT we still can download torrent files.
Doge took almost a decade to reach $0.01 but this is because Doge has been the longest-used coin we are betting on in casinos. Doge because useful while BTT isn't.
Even a whole cent sounds unlikely. While Bittorrent (BTT) was theoretically reformed/updated in 2018 by blockchain platform TRON and has integrated a few new features, it still doesn't serve much purpose. Originally, it was abandoned by its developers until it was taken over by Tron Blockchain. From a short summary I've read, in theory at least, it doesn't sound bad. You can even earn BTT for downloading torrents. I tried it, but it wasn't worth it. Plus, I rarely download torrents anymore. However, I believe that torrenting has started dying down after actions were taken against piracy, leaving the coin with little to no purpose. |
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This "Tax Burn" thing that they have initialized is just a countermeasure that is for the short-term right now. Let's see how it will react in the long run. The amount of money lost and involved in that issue was too much, and this burning mechanism can't hold it for sure.
Tax Burn is only one of way to burn and months ago, MEXC exchange is the first one supported burning Terra Classic from trading pairs for Terra Classic on their exchange. Later the proposal to use on chain transactions to buy back and burn Terra Classic is great. Previously, LUNC DAO is a staking pool initiated burning mechanism too. Although, there are efforts from different sides to support Terra Classic, they are just not enough and even more entities join the burning mechanism, it takes time. The latest soar of Terra Classic is simply because people were greed. Even with the introduction of tax burn, Luna Classic cannot be saved. If I remember correctly, last time I checked, there were billions of coins in circulation. The tax only burns a few million at best, so it's unlikely to ever see decent improvement. While some speculate reaching $1, let's keep in mind that even if it does happen, it'd still be over 100% minus since it used to be worth over $100. I wouldn't call $1 a victory, especially for those who got screwed over. Personally, I spent a few bucks just for the sake of it, not because I honestly thought I'd get a 100% return. The developer has ruined his reputation. The community doesn't trust him nor his coin. It's pretty much done for. |
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