Could the entire crypto market ever be a scam?
How much faith do you have about the crypto world?
Can I confidently choose Crypto World to safely store all my hard earned wealth?
Like the bank?
At least we have Bitcoin, if all other crypto projects turned scam one day Bitcoin will probably be the only one standing still, but right now crypto projects are gearing up with ISO***** which will easily open a pass way for massive payment option in future. My advice for you is to always treat crypto investment as a risk one, do not put all your eggs in one basket and also make sure that BTC is one of the coins you have in your holdings. |
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I've been out of the office for about 2 years, Covid has bankrupted the company where I work, my place of work is ceramics production, a lot of raw materials are imported from China which can't serve orders so I get raw materials from Italy, Spain and others but production costs have increased significantly and another problem is difficult marketing so finished goods become stock and increasing costs.
My father used to say that having a single thing is like not having at all, it's not a comfortable way of living if your source of income in one because anything can happen at any time, when it comes to the source of income it should be more than one. The most unreliable source of income is working at an office or a company that's not yours, maybe working for the government? I will never feel comfortable doing so. |
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It doesn't matter, I've bought so many mining equipments before and I am talking from experience, both new or used can give up on you at any time and few times the used ones lasted longer than new ones..
Also buying cheaper equipment gets you closer to your ROI than brand new that's why some people prefer used mining equipment, I know someone who can afford any asic miner but he bought used only, he cares more about ROI than the fear of an asic getting a problem.
Used mining equipments don't always get problems, most times it's 2% out of 100%
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my friends are saying crypto is the biggest scam of all Fiat money is the biggest scam of all. Think about it  Fiat is not money, it's currency. That's the scam. That is also the case with cryptocurrencies that are not even currencies at all which is part of the reason why they are scams. Boss pooya87 correct me if I am wrong, you said that Fiat is not money that it's currency, how is that when currency is simply one tangible form of money? Also crypto ends with currency too, is Bitcoin not cryptocurrency? Bitcoin fits money more than Fiat? 🤔🤔🤔 damn I'm confused. |
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3000$ a month is a lot for many people, with the way I was brought up I will save more than one third of the money every month even now that I am married, saving money is like a piece of cake to me due to how I was trained by my parents.
It's better to have more sources of income than to stick with your monthly payout even if it's big because you can never tell what will happen tomorrow, do not feel comfortable with one source of income.
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Mining is the only way to avoid future loses.
When buying there is always thew risk, that is true for most assets.
You are so wrong about this, when it comes to making money the risk of losing money will always be present, I used to be a Eth miner before the merge months back, I have lose money a few times through dead components, either Graphic cards or Motherboard, they just stopped working. |
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Every businesses always have someone or some people that will talk shit about them even if the business is one of the best, stop acting like we don't know what we humans are capable of, your neighbor can easily develop hatred for you and you did nothing wrong, as good as Binance exchange is some people still talk crap about the exchange when they have no evidence to backed their claims.
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After the FTX fraud spreads to every corner in my country my friends are saying crypto is the biggest scam of all, they said one day everything will reveal, this is coming from those that shows no interest in crypto at all even when I tried to confuse them but I did something right.
I sent them a message through WhatsApp explaining to them that FTX is not crypto, that FTX is a private company that people aren't supposed to trust because it's centralised but they do and in the end FTX illegally use their money for their own selfish interests.
Then I went on to tell them how crypto is very different to FTX, complete transparent and immutable is what crypto is compared to FTX and I was able to confuse two friends after this explanation, now they want to know more.
I have come to realize that many people bad mouthing crypto don't do a single research on the technology first ( complete disregard ) so I urge you to explain more to those ( friends and families ) that call or will call crypto a scam all in the name of what FTX did with customers' fund.
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It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.
The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.
Don't get it confused.
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CZ is trying to keep his business intact, that's all, many funds are been withdrawal from Binance exchange since past days now, no successful businessman will be happy with that.
For our own sakes it is better to keep BTC and ETH in your hardware wallet, CZ knew that this is the best way to be completely safe but it is expected to talk otherwise when it comes to saving his business.
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I don't expect any big price jump from BTC in 2023, I believe that there will be more panic in first quarter of 2023 but for those who are smart that will be the best time to buy.
Honestly speaking the best time to expect anything from Bitcoin is after the halving period is over, that's when more money will start returning to the market, BTC halving creates confidence for the market after every bear seasons.
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Centralized entities are 100% manipulative. Dealing with centralized projects is just like keeping your money in the bank, this is not even about trading on centralised exchanges, they have the power to write and to erase when they feel like, this is why Bitcoin is Outstanding.
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To become a business owner you have to start your journey as an employee, that's to gain more experience before starting your own business, I can see that many people chose business owner but do not forget that you will hire people too unless it's the type of business one can handle themselves.
Also you need capital to start your own business, this means you need to start as an employee first.
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I think you need to learn more about open source, it's pure transparency, how can a project be open source and still have a backdoor? And no one sees the back door? What's the open source then?
Open-source projects have nothing to hide, you can easily see all their codes and what they are running, with no hide-and-seek like Closed source, what you just defined sounds exactly like Closed source projects.
That's mostly true, but knowing how complex code can be depending on the project, the developer can easily have an obfuscated backdoor in the source code. It'll take a very competitive developer or a developer that's specifically looking for such an exploit/backdoor to spot it. @MK4 If this is true then not even open source is 100% safe, I thought the transparency of the code is everything that's there to it, so it's possible not to spot a backdoor even if it's open source? Mehn I don't know that, this shit just keep getting wider and scary everyday, buh thanks for the knowledge been shared. |
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This is a new policy, so we'll have to wait and see where it goes. The reason for this may be unknown to many Nigerians, but I believe the main intention is to improve the economic clampdown that the country has been experiencing for quite some time. Let us think positively about this, and I hope the true motive is to benefit everyone, both rich and poor citizens. Before reaching this point, I'm sure it was subjected to extensive scrutiny by top government officials; we hope the Federal Government of Nigeria has made the right decision.
Nigeria is not the first country to go on a currency revaluation and change in monetary policy, countries around the world have undergone similar economic recovery policies, so this could be a good way to recover the recessed Nigerian economy and help to recover stolen national treasury by the politician who the majority of them are already indicted for money laundering and other financial crimes. The right question you all need to ask yourselves is, in Nigeria is this the first time that the government will change their currency? I am sure it's not, so have this ever work out as planned on the long run ? The answer is NO. Changing the currency won't change anything, it's only a matter of time before Nigerians find themselves in the same spot before the next election begins. |
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The reason why I said tech is less important here is because, right from day one I always said NO to Asic Miners because of repair and fixes, believe me no one knows how to fix Asic miners here.
No one really? or you have not found someone yet with that technical knowledge. If you say there is no one around who has some knowledge on repairs on ASIC's miners, it may mean that there are no individuals who are mining bitcoins in your area, and that is unlikely, there should be at least one other person who is mining bitcoin in your city, your responsibility is to find out and reach out to them to share some knowledge on how they have been handling the challenges with mining in your city, especially with repairs and fixes for your ASIC's So, I want a very durable Asic miner that can serve me, I've heard about few that are prone to faults, Power fault that's why I need your guidance.
Read maintenance and care tips and adhere to them, your ASICs may take a while to develop faults. I will be happy if I can find someone, in my state no one can repair Asic miners and you will mess up if you give an Asic to those that repairs electronics like TVs or Sound system, they will add to the problem. Not everyone knew about crypto mining here and those who are into crypto and Bitcoin don't even bother about mining, I guess that's because of the bad grid power, that's even why I set up solar power in the first place but thanks for your concern. |
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Do you know that some crypto projects are so amazing that you will want to give up your money just to allocate some portion of the max supply but the tokenomics ruined it all?
Some projects have good utilities but their tokenomics is very bad, if you don't know this do try learning the difference between good utility and good tokenomics because it is very important and this will help you on your future crypto investments.
No matter how tempted you are to invest in a project always learn its tokenomics first.
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A fair and better coin minting is less attractive to me since this so called CBDC coin is a stable coin anyways, my question is who cares? Also I don't believe in the word "fair" from anything that's coming from a centralized power or the government.
If CBDC is ever going to work out it will be used just like USDT and USDC.
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Why are some people buying low cap altcoins hoping that they will be rich by 2025? Because it has happened before that some people do so a d through that they were made rich, now this then depends on the people behind the project, if they are reliable and transparent enough to what they represent then why not, but how do you know the good from the bad now that we have many thousands of projects ongoing in crypto, research can help along way but not all about research, the challenges is that we have alot of bad shitcoins project that are after making their own money and run away with investors assets. I asked her why these set of coins and tokens she said it's the only way to get rich in the next bull market. Have you considered she's also taking a risk to invest on those coins, in which it may come to pass that she make something good out of it or losses everything, those that did that before have enjoyed the most benefit there in. Do not buy coins because their value is cheap and market cap is low, this is plain stupidity, you are just throwing away your money because the next big altcoins by 2025 are probably not released yet, if you are doing this you need to stop. Let me shock you that you can do so provided that you've done enough research satisfactorily to yourself and know the reputation they have from previous projects You are right, it has happened before but projects with less than 20,000$ volume won't survive in a bear market, this has also happened before, it happened in 2018 bear market and it will happen this time too, what is wrong with projects that has over one million trading volume in a bear market? Such project won't have a hard time surviving through the bear market and it won't stop them from making 10x or 20x gains. |
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BTC is the first crypto asset from Nakamoto so yes of cos people will trust it more than any other but remember that every crypto assets have their own reason of existence.
we all know that we can't run any smart contract on BTC that's something we can only do on Ethereum, this is why other projects will have some space in crypto space for a long period of time. People will still adopt them anyways.
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