I am not going to claim to know the answers that would necessarily apply to various possible subtlties and abilities to engage in ongoing investing into BTC even if cashflows might be relatively tight because sometimes any of us could end up being in situations (and maybe for a long time) in which we are having difficulties with our cashflow and difficulties investing at times that likely would be better times to invest, and then we end up getting tempted into investing into something like BTC when the price are going up or had gone up for a while rather than when they are in the deepest of their trough, and part of our cashflow issue might have come from investing too much on the way up so we run out of cash when the BTC price comes down and when it ended up being (upon retrospect) at a better price point, relatively speaking.
No one knows what's a good financial/Bitcoin buying strategy for a person, except the person himself/herself. We merely give suggestions, but it's the person who decides. I hope no one listened to many of my bad suggestions. It's very easy to be over-optimistic during the bull cycle. I missed the chance to accumulate more from 2018-2021 so yes I am failed in my expectation as there is a surgery that needs to be funded and sadly I have to full out almost every funds from my folio to sustain my mothers surgery . but not now, as i have already established my financial capacity and yes back to track again and buying as long as I have a chance to purchase not totally in dip but whenever there is available funds in my hands , as i believe that we must not only accumulate when there is a dip instead everytime that we have a chance to purchase . It's very admirable that you gave everything to help your mother, but that's the disadvantage I was talking about in a post that was misinterpreted as "taking risks is ALWAYS bad". Under the right situation, it's actually good to take more risks, the highest risks IF you're young single, AND who has absolutely no other responsibilities but just to yourself. I believe you should be more careful because you're responsible for your mother, and probably other siblings? Don't take too much risks. . so yeah it is not best to take too much risk but this is what I choose to recover from my fast mistakes. now I am currently holding a good chunks of Bitcoin and aiming to at least hold 2-5 bitcoin before the bull comes again. It's good to have a good family. You're very VERY lucky. Your parents raised you, and your siblings, the right way. I believe many of us never had such luck. |
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Are you proposing that the community should call on the miners to censor those transactions? That would be against the philosophy Bitcoin was built on.
You are mixing up 'misusing the Bitcoin blockchain because it is technically possible' and 'censorship of monetary transactions'. We want Bitcoin to be censorship-free in the sense that anyone can send any amount of BTC to anyone on the world at any time. Filling the mempool and the blockchain with JPEGs though, inhibits this goal and should be regarded as an attack. Attacking Bitcoin is pretty surely not in line with 'the philosophy Bitcoin was built on'. "Misusing", but those who use Ordinals could argue that it's a feature made possible through Taproot. I believe you're mixing up opinion, both sides, from what actually is the network, which currently and obviously, Ordinals has opened a debate. Bitcoin is a network, an immutable, decentralized ledger, which is permissionless. I don't like dick pics and fart sounds in the blockchain, but the point is how can we stop censorship-resistance and permissionlessness? If you believe we could, then that will start a very dangerous premise for state attackers to take advantage.
It seems odd to me that the only real argument repeated over and over again here is that 'Bitcoin could be used as censorship-resistant forever storage of data', meanwhile NFT people don't really care about any of that and are just out to sell JPEGs for profit?
You are basically defending 'JPEGs' with 'cloud backup storage'.
It's not "could be used", it's actually being used. Tromp made a good post, https://bitcointalk.org/index.php?topic=5437464.msg61860021#msg61860021Are you proposing that the community should call on the miners to censor those transactions? That would be against the philosophy Bitcoin was built on.
No, we should call on nodes to reject spam transactions that are abusing the system and never relay such transactions. This is in accordance with the principles of bitcoin, the peer-to-peer electronic cash system and is against the principles of bitcoin, the permit anything file storage system. That would be hard as tromp already posted, miners would be blocked from a good source of profit, and it starts a bad precedent. Should we tell nodes to reject transactions from North Korea, Iran, Russia, and China as well? |
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The U.S. does that because why?
Dollar is a weapon and US regime knows how to wield it. It's used as a weapon because why? Because the United States Government knows that the U.S. Dollar is ahead vs. any fiat currency in Spendability/Saveability/Liquidity, and that all States/Countries that want to participate in world trade need it.
China is also doing it with their Yuan through Debt-Trap Diplomacy.
Obviously! China's dream is to replace US as the global hegemony. Maybe not with colonizing and murder of tens of millions of people but still similar power abuse is expected from China in the future also.  If China replaces the U.S. Dollar with the Yuan the next topics that will be debated is the dumping of Yuan, and the start of another New World Order. |
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Because Bitcoin is permssionless and censorship-resistant, I believe not all who uses the Bitcoin blockchain as a "cloud-storage" is attacking the network, ALTHOUGH Ordinals could open attack vectors for bad actors to congest the network, drive fees higher, while also being incentivized to do it to continue doing it.
Wrong. First of all not letting people abuse this payment system that is supposed to handle money transfers is not against censorship-resistance or permissionlessness of bitcoin. In fact it is enforcing them. You see these concepts doesn't mean you should allow people to do whatever they want. Rejecting such attack transactions is also not new, there are dozens of tx types that we are rejecting. In order to keep the integrity of the system we need to do that. Because it is permissionless, you have your right to an opinion on what the network should be used for, but a "feature" was found so it can be used for something other than intended, what right do we truly have to say "no" in a censorship-resistant, permissionless system? Are you proposing that the community should call on the miners to censor those transactions? That would be against the philosophy Bitcoin was built on. |
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I missed the chance to accumulate more from 2018-2021 so yes I am failed in my expectation as there is a surgery that needs to be funded and sadly I have to full out almost every funds from my folio to sustain my mothers surgery . but not now, as i have already established my financial capacity and yes back to track again and buying as long as I have a chance to purchase not totally in dip but whenever there is available funds in my hands , as i believe that we must not only accumulate when there is a dip instead everytime that we have a chance to purchase . It's very admirable that you gave everything to help your mother, but that's the disadvantage I was talking about in a post that was misinterpreted as "taking risks is ALWAYS bad". Under the right situation, it's actually good to take more risks, the highest risks IF you're young single, AND who has absolutely no other responsibilities but just to yourself. I believe you should be more careful because you're responsible for your mother, and probably other siblings? Don't take too much risks. |
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I started a new 1 sat/b actual Bitcoin transaction yesterday. Lets see how many days the current spam wave will make me wait... Remember, it used to be 2~12 hours before Ordinals and friends invaded.
I would have set that transaction at 2 sat/bit at least, considering I have been noticing some important accumulation and delay on those that have opted for 1 sat/bit. Nonetheless, I am confident enough that this weekend we could see a significant drop in the mempool memory and the cheapest transactions could go through without much problem. If there is no reduction, then next week would be one of high fees, similar to what we witnessed in mid February.  This year, I believe we will truly start to understand the point of RBF and the fee market. It will not be the perfect situation, especially for those coffee-transactions, but with censorship-resistant, unstoppable money will come a price. I'm starting to understand that if it's not Ordinals, it's going to be another situation that there's more demand for block space. Maybe if there's more demand for payments in Bitcoin perhaps? I believe one needs to understand the point of view of Artemis3 and people who agree this is spam. If we talk of Bitcoin as "free money" or a P2P payment system. Then where do the NFTs/ordinals find their place in this concept? Or isn't Bitcoin to be a tool to transfer value rather than a decentralized storage for thousands of pictures? My personal opinion is, we may have our own opinions about it, positive or negative, BUT calling for its censorship is going against the ethos/philosophy that founded Bitcoin, and brought it where it currently is = Permissionlessness/Censorship-Resistance. But the problem = it opens an attack vector for self-sustaining network congestion.
While I agree RBF is useful, one should not expect it to be an ultimate solution if one wants to pay something in a reasonable period of time. Specially in countries where each dollar counts.
I wasn't debating the fact that it will be expensive, or some users will be priced out. I was merely saying that censorship-resistance and decentralization come with a price. Are you willing to pay for it? Or do you want PayPal? |
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I started a new 1 sat/b actual Bitcoin transaction yesterday. Lets see how many days the current spam wave will make me wait... Remember, it used to be 2~12 hours before Ordinals and friends invaded.
I would have set that transaction at 2 sat/bit at least, considering I have been noticing some important accumulation and delay on those that have opted for 1 sat/bit. Nonetheless, I am confident enough that this weekend we could see a significant drop in the mempool memory and the cheapest transactions could go through without much problem. If there is no reduction, then next week would be one of high fees, similar to what we witnessed in mid February. This year, I believe we will truly start to understand the point of RBF and the fee market. It will not be the perfect situation, especially for those coffee-transactions, but with censorship-resistant, unstoppable money will come a price. I'm starting to understand that if it's not Ordinals, it's going to be another situation that there's more demand for block space. Maybe if there's more demand for payments in Bitcoin perhaps? |
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I'm simply the SILVER LININGer. I accept DOWNity "because Golden Opportunities", and I UPity cheer "because HODLing".
Plus I never take anything personally. I'm merely making the point of my posts very clear. It's easy to misunderstand each other's viewpoint without actually talking in person, facing each other.
I'm trying to understand what you're trying to explain, and I think some people might agree with you, but of course not everyone agree with you. In addition, dip is not only there when it is bearish, but also when it is bullish. After all we are still in a deep downturn as bitcoin has so far been holding on to a 65% drop in price from its previous ATH. Buying dip during bearish period may be more profitable than buying dip during bullish, and the two offer different odds of the amount of profit to be made. I could consider both, but tend to prioritize dips during bearish. I'm merely illustrating that we should find Silver Linings, or positives, during those times when everything is negative, like the current market. BUT the lowest DIPs are found during bear markets, no? The worst decision plebs like us can make is if we give up. The current bear market can't last forever, wait and see during the next halving. |
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OP, it's always more secure to own a Hardware Wallet, but for how much coins you currently own, just keep saving and buying Bitcoin until you can comfortably spend for a Hardware Wallet. Plus you can always use an old computer for cold storage, and that would be as safe/secure as a Hardware Wallet. |
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Because Bitcoin is permssionless and censorship-resistant, I believe not all who uses the Bitcoin blockchain as a "cloud-storage" is attacking the network, ALTHOUGH Ordinals could open attack vectors for bad actors to congest the network, drive fees higher, while also being incentivized to do it to continue doing it.
Solution: Push a network upgrade that increases the weight of Tapscripts, when calculating the Weight Units of the transaction. Although in this form it would require a hard fork, maybe there is a node policy that influences the few calculation that can be tweaked specifically for bitcoin Core (it seemed to work for mempoolfullrbf, at the price of disgruntled hackers stealing the coins of a strong supporter dev). If that's truly what you believe is the solution, then make BIP, and open the debate for the community to decide why, or why not. The network congestion caused by Ordinals will be coming soon. Although it will be a fair fee market, Bitcoin will be annoying to use as a network for payments, causing many users to go to those "faster blockchains". |
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I'm with you that a New World Order is possible. Possible, or maybe probable.
To be clear I believe that the New World Order is already established, it is not something that may or may not happen in the future. And we are now in the transitional phase that could last a couple of years, years that will be filled with conflicts and chaos. Truly established? Debatable.
BUT it also doesn't change anything about the debate that the U.S. Dollar's fall could also be too overblown.
Dollar may not disappear but it will definitely lose its dominance and value over the coming years. I agree that sometimes the degree of its fall is exaggerated. Because losing dominance for the U.S. Dollar would mean the United States would lose their Empire, I believe it will take longer than most people's anticipations.
Because, right now, there's no currency that's actually ready to replace the Dollar that's better in spendability, saveability, and liquidity. The demand for the U.S. dollar remains because every other State want it.
What would the financial incentive be to accept the Yuan over the U.S. Dollar? I believe ZERO.
All the characteristics you mentioned (spendability, saveability, and liquidity) depend on whether US likes you to have those characteristics or not. You see, the dollar your country has is not in your country's control! It is in full control of US one way or another and this gives US a tremendous amount of power over your country which they always abuse and they abuse it on all countries, friend of foe alike. But that doesn't change anything about Spendability, Saveability, and Liquidity. All countries prefer to have and deal in U.S. Dollars simply because it would be easier for them and their counterparties. Sanctioned countries, if they were not sanctioned, would definitely be using the U.S. Dollar.
Take Turkey for example. It is considered a US ally and is a member of NATO. They have been playing both sides but after the earthquake which will continue to devastate Turkey between 6 to 12 months and exhaust all their resources, now through dollar US is putting pressure on Turkey to change its policies in favor of US!
Iraq is another example that US recently started increasing the pressure by blocking all their "dollars" that showed itself up immediately in Iraq economy.
The U.S. does that because why? Because they know the U.S. Dollar is ahead in Spendability/Saveability/Liquidity, and they will use that fact to leverage their motives. China is also doing it with their Yuan through Debt-Trap Diplomacy. |
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I think this is a reasonable action since the price of Bitcoin is still quite low, and then it will show growth. If I were a whale, I would also show everyone that I believe in Bitcoin and buy it. This shows other people that they can enter the market calmly.
It looks like an avalanche effect, and Motley Fool has launched its snowball.
It seems that influencers are fully aware of how they can influence the cryptocurrency market.
"Influencers" start "influencing" everyone to buy when the market is in ATH/near ATH during peak bull cycle? Why? Because they want to sell to us and take profit from us, the plebs, the newbies, the poors. It's the perfect cycle for a new strategy. Buy the DIPs during peak bear market, and front run everyone if you want to sell. But if in doubt, just HODL. |
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If he is a rich person and has more income he probably won't be so disappointed but if he is just a small gambler then it would be better to always have financial and time limits on gambling. I agree with your suggestion because that way it can make a gambler at least minimize the loss of large amounts of money. A rich person still can get rekt because his money is limited, there's no any single person in this world have unlimited money including Elon Musk. A rich person might bet with max amount and if he keep gamble everyday, he could become poor and sold all of his assets in order to play and recover all of his losses. So either rich or poor person, they need to set a limit how much they can afford to lose, the difference is the amount of the money. , and even after gambling away all the money he has, he still can not be ever poor because of the kind of investments he already has .. So in as much as I agree with you that no body's money if unlimited anywhere, I still believe that there are people who have excess money that even if they decide to stop working and start gambling everyday, it can take tens, and for some, hundreds of years before them to ever become poor, if at all, this is possible. Talking about Elon Musk, I believe he already made the biggest gamble of his life when he used his money he gained when he sold his shares in PayPal. He used all that money to build the two most risky projects of that time. An Electric Car Company Tesla, and a Rocket Company =SpaceX. All that money would have been merely burned in 5 years if he didn't find success for those companies. That is NOT "a long time". |
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i would say "attacking" bitcoin is a rather harsh word for storing some piece of important data on the blockchain that you do because it's important to not lose it. the intention would not be to attack bitcoin. or hurt bitcoin. so maybe you should bring it down a notch...
Bitcoin is not a cloud storage service so when people use it for that, it is an attack. Specially when it is not just one or two cases of people storing some small arbitrary data on bitcoin blockchain but an increasing threat to the future of bitcoin as a peer-to-peer digital cash. Because Bitcoin is permssionless and censorship-resistant, I believe not all who uses the Bitcoin blockchain as a "cloud-storage" is attacking the network, ALTHOUGH Ordinals could open attack vectors for bad actors to congest the network, drive fees higher, while also being incentivized to do it to continue doing it. |
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day trading and relying only on Bitcoin will it not last long. It is better to look for high volume coins for day trading, as you need fast price fluctuations to make quick profits on day trades. Bitcoin is indeed the best option, but it is better in the long term. I prefer coins with large volumes for daily trading, scalping continuously is better. little by little profits will accumulate even if each trade is only $5 or less.
It will NEVER last long because of OP is undercapitalized. Plus it's laughable to make a debate about volume/liquidity, and trading strategies with the presumption that we plebs will make "daily profit" consistently everyday. I can assure each and every pleb reading the topic that, WE WON'T. It's true that there is no way that you could make a consistent amount of profit in the long run with trading, there will always be bad days and there will be some good days. People need to learn that trading is not 2+2 equals 4, there are so many complicated things in there and you should not be expecting to make this type of money from it at all. Those who promise you that you will make a lot of profit from it with their help and all, those are just scammers who are trying to scam people in order to make some money, if they knew how to trade and make a wealth, they would simply do that and they would have been rich, but they charge you, which is a proof that they are wrong. They also could just be those trolls, like the trolls in the forum, who like to take advantage of newbies and plebs like us. They want us to be under their influence, and to manipulate us, making us question the truth which we already know. That's called gaslighting, and it's working very effectively in the forum, because I noticed that there are other people who have started to defend the posts of one "special" troll in BitcoinTalk. |
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But OP should also get the context why "Linux is less-targeted by hackers". It's because, like the Mac, there are less users who are using Linux for the desktop, compared to those users who are using Microsoft Windows. There are still many exploits for unpatched versions of Linux that can be found in the internet, although not as many as the malware/virus made and released for Windows. |
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It will NEVER last long because of OP is undercapitalized. Plus it's laughable to make a debate about volume/liquidity, and trading strategies with the presumption that we plebs will make "daily profit" consistently everyday. I can assure each and every pleb reading the topic that, WE WON'T.
it's just nonsense when we talk about " daily profit" consistent with day trading, when psychology can't be controlled and to panic, and lack of capital. Being consistent will not be easy, it requires more knowledge, not just basic trading knowledge. consistent daily profits will be more difficult than just holding for the long term. Must have consideration, which strategy is really suitable in order to produce maximum profits. Day-trading, swing-trading, long-term trend trading, or even HODLing! NONE of these different trading strategies will give ANY user "daily profit"/"daily paper profit" because of the volatility and the unpredictability of the market. There will always, ALWAYS, be draw-downs in our investment portfolios. |
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[edited out]
Hahaha. I'm definitely not cheering for down, I'm merely presenting a debate that the best Golden Opportunities to Buy the DIP and HODL are during bear markets. Because we can't control what happens next to the market, what we can do is look for the Silver Lining in each and every situation. The longer the bear market, the more time to find Golden Opportunities. Why you even have to be taking things so personally.. you DOWNity cheerer-er? I'm simply the SILVER LININGer. I accept DOWNity "because Golden Opportunities", and I UPity cheer "because HODLing". Plus I never take anything personally. I'm merely making the point of my posts very clear. It's easy to misunderstand each other's viewpoint without actually talking in person, facing each other. |
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The G20 is a forum, it's not an organization, it has no way of enforcing anything between participants, it's just an informal forum where everyone bitches about their problems, the rest agree and disagree, and when they return home every single country is doing things as before.
To expect something crypto-related that will end in a unanimously agreed regulation of some kind is a fantasy, not while China which has already banned almost everything crypto-related is a member, how do you think that will sound? To make things worse there is Japan and SK with tighter regulation already in place and some that don't really give a damn like Brazil and Mexico.
So, nothing to see here, they will have far bigger issues to discuss than focus on crypto.
It doesn't matter if it's a forum, an organization, or a government. The main point of Bitcoin is, as designed by Satoshi and later by the design-decisions made by the Core Developers, it simply CAN'T be regulated. If the Bitcoin users/economic majority/HODLers call/demand for regulations, then let's bring in a proposal to remove POW, give all trust to a central entity, and turn the network into another PayPal. |
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I really do not have a great expectations from this year's G20 meeting on crypto regulations. The Central Bank of India really negative about it and they are probably going to present the case in a negative way which in turn create negatively among the world leaders.
As long as crypto is not banned and the governments do not impose a blanket 30% tax on it, we should be ok. But not keeping any high and positive expectations.
Plus "the rules" should NOT, and will NEVER apply to a decentralized, censorship-resistant network that's made possible ONLY through the utilization of POW. If any Bitcoiner debates that "it should follow the rules", then I would question what, do you believe, would be the use of mining with all that electricity to secure the network? It would therefore be a wasteful use of electricity. |
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