I think it's some crazy idea from the depths of Internet that I would never hear about if you didn't create this topic. People just love combining completely separate topics just to see what would happen and this is one of those cases. What are people going to do in Bitcoin monasteries? Pray for Bitcoin to go up? Who will fund them? What services will they provide?

It would either be just another centralized payment system like PayPal, or it would just fail and get shut down (I think this was more likely). Idk why would David Chaum's project be called "the first cryptocurrency". Because it used some cryptography? If the bar is that low, then credit cards are also cryptocurrency, because they use cryptography too.

Bitcoin demand is hard to predict or estimate. We can observe that there's growing interest in it, but we don't really know what those new holders are planning to do. Are they believing in Bitcoin as a hedge against fiat currency, or are they merely speculators who plan to ride the bull run and ditch Bitcoin when it crashes?

What's the point in listening to what altcoin people say? Of course they are going to promote the coins that they are heavily invested in and attack Bitcoin, because they say that their altcoins will replace it.

If people were doing their research, they would know that altcoins all have centralized development, huge premines and typically high degree of centralization on the protocol level. And on top of that they have no real world uses - so they always collapse when the market moves on to new hyped investments.

Way too many Bitcoin holders don't even want to think about the bear market, they expect that Bitcoin will be going only up and up, ignoring the pattern that all bull runs end with a massive crash. So the smart thing to do is to sell continuously during the bull run, but here most people get greedy and think that they will miss  out on profits, while actually they would make a lot of money if they'd do so, because they could then rebuy Bitcoin at lower price after the crash.

Everyone knew that Bitcoin will reach 100k back in 2017, so of course they didn't sell at $20k and missed out on an opportunity to take huge profits and buy back at 15 times lower price in the bear market. Then in 2021 everyone knew it would reach $100k and the story repeated again with crash and a bear market.

You are right that in general the price will increase in this cycle, but no one has the slightest idea where the top will be, so waiting for some price level because some reach people predicted is will be very counter-productive for your investment.

That's not really a long-term investment, that's only 1-2 years and long-term is like 5-10 years. Day trading is a very bad idea, and trying to predict weekly or monthly trends is not much better, but betting on the halvening cycles isn't bad even for beginners. Most important is not getting too greedy and actually sell during the bull run, and then not get too greedy in the bear market and buy before the price starts bouncing back.

Now do the comparison of transactions volumes and Bitcoin with its 300,000 transactions per day would be at the bottom of the list. because even the smallest fiat currencies have millions of transactions per day, because the citizens use them daily. And it gets even worse if you filter speculative transactions and only count actual payments for goods and services.

No there aren't because lost coins are not a problem whatsoever. There's plenty of units of account to fill the need for them. Losing millions of coins changes nothing since one coin is actually 100 million "coins".

Plus returning a large amount of coins into circulation would just dump the price for all holders, and holders are the ones who decide the rules, so why would they agree to such change?

What do you mean by "miraculously got"? You won't generate them randomly, so not point in theorizing about that. But let's say you found someone's backups - then what you should do is try to find the person and contact them and return the coins to them. But if it's impossible because they're dead or even just couldn't be found, you could try to spend the coins. It could be very shady or even immoral depending on the exact circumstances, but it could also be okay if there's a certainty that the original owner will never access them and didn't pass ownership to anyone.

Banks need to know where their customer's money come from because they don't want to be a part of money laundering.

Both telling and not telling that you are a crypto investor is a risk. If you tell, it will be recorded in their database and if it gets hacked that data will be leaked just like with other centralized services. Also there's a risk that the bank will react negatively and close your account.

But lying to them is not a good idea either. If you tell that you "invest in something else", they will ask for proof, and if you will fail to provide it or try to forge it, your account will get closed and they might even report you to police.

If you want to deal with banks, your best bet is to research which banks in your country are crypto-friendly.

Why would you want to DCA when the price is going up? You will be buying less and less coins and might even end up with an unrealized loss if you fail to sell before the bear market


I won't be surprised if most investors will fail to profit from it. The community tells people to hodl and wait for some arbitrary high price range like $500k, and that it's foolish to sell Bitcoin because it will be going up. Even though there's a clear pattern of bull and bear markets, which means it's enough to just sell in the late stages of bull run and buy again during bear market to make huge profits.

I never say anyone predict the top correctly and it's always wildly overestimated. In 2017 the eyes were at $100k, in 2021 it was $250k and we all know how it went and where the actual bull cycle peaks were. Don't let all these predictions affect your decision-making and remember that after the bull market there will be bear market.

It has been true at all ages and all countries that you need to have a financial safety net, because unexpected spendings happen in life all the time. Things break down, body gets sick, bad situations happen - all of that requires money to fix. It should be a common wisdom that you can only make unnecessary spending if you have some money saved up and not using your last money for that, but way too many people don't do that because they don't understand the basics of personal finance.

To me this story immediately sounded suspicious, because 276 coins is not a small amount, it was already quite a sum in 2017, surely the person who supposedly mined them in 2012 would check on their coins during a bull run? And then during the 2021 bull run?

Perhaps OP is trying to use community effort to doxx that transactions. There's a saying that if you want to get the right answer on the Internet, you should post a wrong one yourself and wait to be corrected, maybe it's something like that.

Just remember that you haven't made any money until you actually sold it and the money is in your bank account or in cash. It's extremely easy to get greedy and think that Bitcoin will rise more and more, and then you will miss out on selling at ATH, and when it crashes, you will wait for it to bounce back at least to that level, which it will probably won't do.

It's possible of course, Bitcoin demonstrate excpectation-defying growth in the past, but it's more likely that at $55-56k there will be a correction, because after every price jump a correction will come. And getting close to ATH before even the halvening would be a bit worrying, it means that everyone recognizes the halvening pattern and thus the pattern no longer works. It could mean the accelerated bull market with the new ATH being reached in this year, and a new bear market after that.

Lots of coins have already been sitting on centralized platforms, mostly exchanges - did it cause any problems for the network? No it didn't. It's a good thing that Bitcoin didn't took the course of that PoS nonsense, because then we'd indeed have to worry about coins being concentrated in one hands, because each coins would also represent a vote on the network.

And we'll never see a scenario when all coins are on centralized platforms, there will always be supply of coins for p2p trading because there will always be demand too.

With Bitcoin you always have to tripple-check every single step that you make, because there's lots of ways you can make a mistake that will cost you your investment.

If I were to sell 1.7 BTC, I would split it into like 4-5 batches and sell them over a few days or even weeks. The absolute worst case scenario if something goes wrong is losing 1/5 of the stash instead of all of it.

They attack BTC and want to still its brand because they are a cult that blindly follows their leaders (Ver/CSW) and because they are holding their shitcoin bags and hope that they will pump if their shitcoins "becomes Bitcoin". Some of them probably invested in those scams when they were at their peak or even just a lot higher than currently, and are now desperate to at least break even, which will never happen. There's also a good dose of conspiracy theories that attack Bitcoin devs, and everyone knows how toxic and irrational conspiracy theorists tend to be.