Right now in some of the countries Bitcoin is been banned or restricted, when I think of it I do not blame the government why Bitcoin or cryptocurrencies is been restricted because they do not know the value or importance of Bitcoin. Some government officials have never done any transactions, I mean to buy or invest to Bitcoin or to use Bitcoin as a means to acquire goods and services.
-snip-
You do not blame the government? You are saying just because they do not know "the value or importance" of crypto currencies, it is okay for them to ban it? You think it's only the government that makes up the country? Just because they are stupid, they are stopping everyone from taking the advantage of crypto currencies. You should stop supporting your government blindly. You shouldn't justify their "flaws". What you should be doing is forcing your government to understand how crypto currencies work and allow their people to use it! |
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You can take your profit at any time. So there is no time limit for you to hold. It all depends on what your initial plan is like. If it feels profitable and in accordance with your target, you can just let go of the hold. Because in bitcoin trading we are given the freedom to do so.
Here is the problem. Don't always think about the profit. Don't keep on holding just just because you aren't making profit. Sometimes it is better to let go off your investment and suffer some loss. Better than losing everything including your mental peace. This holds true mainly for some random coins that you have invested in during a pump. Once those coins starts to drop, there is a high chance it will never recover, but drop down even further. Better to sell than keep on holding! |
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Put AI system aside and take Bitcoin system as an example. Is it probably for Bitcoin network to has its own self-awareness and rise to be a super AI system or become something similar to Skynet in Terminator?
-snip-
Well if you put AI "aside" and take bitcoin as it is, then no. It is never going to happen. If it has been programmed to become self aware, then yeah it can be. If it hasn't, then no it can't automatically become self aware. It has a base code that tell bitcoin to do exactly what it has been told to do. Would be funny though to see bitcoin become self aware. I mean what is it going to do? Kill all the bankers? |
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Fix your title. Change it to "Google bans 8 crypto scamming apps " and you won't be spreading FUDs. Good thing google started to ban those apps. Everyone knows that almost 99.99% of those "cloud mining" platforms are scam/ponzie schemes. The rest 0.01% cloud mining platforms might be legit, but you won't be making any profit over there.
Now google should start banning those scam advertisements and those videos promoting scam and spreading FUDs.
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I don't know why, but your story sounds very funny (and gave me a little cringe). Who has a gambling mentor? And you really went to your mentor and he helped you reach minimum withdrawal? Lol. You mentor says gambling can ruin your life, yet he teaches people how to gamble.....
Anyway, the best advice I can give you is, don't gamble for the profit. Gamble for fun. Think of gambling as a form of paid entertainment. Whatever profit you make, think of it as an optional reward.
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I've seen several times that every altcoins doubles the price in a single day which means every coin or token has its opportunity to boom. IF BTC price does down they drop but suddenly they skyrocket by the next day itself, it's pretty hard to judge which coin might pump for the next day. Is there any specific website which might help me to identify? Kindly share your thoughts.
Not really. Most of the coins that get doubled in a single day are mainly shitcoins that get pumped by the developers. They pump the coin, others join and then the price gets dumped, leaving most of the people with nothing. Not every coin recovers from a dump. Once a shitcoin dies, it remains dead forever. Look at the market. 99% of the coins are worthless. They once held a very high value, but they no longer are traded. Stop looking for coins that might get pumped and start investing in coins that are known by everyone or at least has an active team constantly pushing updated to make the coin better. |
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Using digital currency in various virtual transactions has become commonplace Bitcoin is an example of a digital currency of popularity, Bitcoin is on the rise and is being talked about by people around the world, even now many people are trying to look at Bitcoin as a promising investment instrument, including during the pandemic but investing in Bitcoin when the corona outbreak occurs needs to be done with various considerations and maturity, the limited movement of people of course reduces income from many business sectors, both tourism, or food, so during this pandemic, people think a lot about investing and even carefully read market movements.
Then, is investing in cryptocurrency safe enough, especially during the COVID-19 pandemic?
What is your opinion about whether or not there is a risk involved in investing during the COVID-19 pandemic?
What risk are you talking about? The risks was the same before and after pandemic. As long as you can afford to invest, there is nothing wrong. If you are suffering during the pandemic, then investing isn't the best option for you. You should keep in mind all kind of investment (not just bitcoin or crypto currencies) comes with risk. There is always a chance you might end up losing everything. Now if that loss is going to affect you life negatively, then don't invest anything. If it doesn't, then go ahead and invest as much as you can. Keep holding for long term and you won't regret at all. |
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I have been in the forum for some time learning different aspects of bitcoin, now I want to be more practical about bitcoin as a currency. I introduced crypto payments for my business and have been making sales lately. I'm in the clothing industry and I believe in crypto. I have my wallet addresses and barcode printed at the door and pos! For now, I accept Bitcoin, and Etheruem. These are 3 popular coins in my community.
So far customer feedback has been good. Some people are glad to be able to use bitcoin to actually pay for a service, Nigeria is a growing market you see. In addition it has also got my business attraction from customers who are in the crypto space. The challenge though is the issue of transaction fees, 8 out of 10 customers aren't exposed and only use the blockchain wallet. I try to educate them on other wallets with low transaction fees like electrum.
I feel good about this new development. I get to interact with customers about Bitcoin and share ideas
That's a nice thing you are doing. At least more people will know and be able to use bitcoin to make payments. Few questions though. Do you keep all your earnings in BTC? Or do you convert some half of it to fiat? If you keep it all in BTC, what about the volatility? Have you ever been affected by the volatile market? What about the confirmation of the transaction? Do you just trust all your customers and allow them to make purchase with zero confirmation? How about taxes? You do keep a good chunk of cash aside to pay your taxes, right? |
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That's why you shouldn't do any transaction with random people involving banks. I have heard many horror stories like this where criminals make you send them BTC and they send you cash. In the end, it turns out the money was from some illegal source. What happened over here is probably the seller was sending funds from a bank account that doesn't belong to him (elders are the victim over here in most of the cases) and the transaction was then reversed and reported by the original owner. Or it was the seller himself who reported that the transaction was unauthorized. If your friend explains everything to the cops, they should let him go. Aren't people from those p2p platforms verfied/KYCed?
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Poker, Dice betting, and Casino games are in the gambling market for a long time but when do you think Esport betting such as League of Legends and Dota became popular.
League of legends especially..., was released in 2009 the same year bitcoin was released in both are different but have progressed a lot finance-wise.
As far as I know, esports betting is already popular among gamblers. There are sites that allow users to place bets on different games. They use in game items that has values or skins to place those bets. If i remember correctly, valve had issues with those people that were gambling with steam items. There are also crypto sportsbook that allows you to place bets using crypto currencies. Do you think Esports betting has a good scope in the future where most of the teens are getting into games like LoL and world of warcraft, Dota, etc?
Are teens even allowed to gamble? |
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All sounds like a hype. They say owning the NFT means you can prove the ownership (and originality?) of the art. But I still don't get it. Like why... You buy and art, someone can have the same exact copy of your art. You both see the same thing. OWN the same thing. Either everything is all crazy or I just don't understand the real value of NFTs. But all I know is that most people are buying it hoping to make some nice (quick?) profit. Do you guys think NFTs will still hold the same value after the hype goes down?
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Was having a discussion with someone getting who is getting into BTC the other day about the 'living on crypto' movement.
Mostly about the people who want to get paid in BTC / crypto and only spend BTC / crypto staying away from banks.
We went around and around for a while as to where his line was vs. mine. And it does bring up some interesting points. If you are getting paid in BTC and send it to BitPay / Conbase and convert it to their debit card and spend from there are you 'living on crypto'? How about Bitrefill and other places you can get gift cards from BTC / crypto?
Was an interesting discussion as to where we stood. And was just wondering how everyone else thinks.
Gift cards? Debit cards? Get paid in BTC and convert to USD (or whatever) and put into your bank?
-Dave
I don't think converting BTC to fiat/USD is considered living on crypto. Would call it living in crypto if you are using crypto for everything. Using bitcoin to buy gift cards and then buying things should kinda count as using crypto indirectly. But I doubt it is going to be actually possible to live on crypto. At least not right. The volatility is what is holding everyone back from accepting payments and spending in crypto. Imagine you receive you wage and the next day can't buy anything because of a market crash.. That wouldn't be nice. |
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The phrase buy the dip is only a good advice when you apply it properly by buying the very good altcoins whose value is only down because of the bearish market condition. Because it is not all coins that dip that would recover their value.
For example, early this year (when the market was super bullish) almost all the projects released saw good increase in their value. but that doesn't mean it is all of them that were very good projects. After the market dip (correction), most of them never recovered their value. The crypto market is filled with a lot of scrap altcoins and the market way of sheding them off is to dip (correction). So it would be in your best interest to only buy very good coins in the market dip.
Preach. Only coins that are well developed and well known are the ones that will survive a dip. No shitcoins will every recover from a dip. Sadly there are people that buys shitcoin due to FOMO. When the price starts to take a dip, they keep holding thinking that the price will eventually recover. Unfortunately that will never happen. Again there are those that buy those shitcoins during dip hoping its going to moonshot again. Only buy those coins during dip that has some real use case and widely used! |
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I don't think this is the best time to invest in bitcoin you should have invested in the past i don't think this is the right time to invest it's just my opinion if you want to invest you can invest at anytime but you have to take the risk if you can't take the risk maybe you should wait till the price drop then you can invest with no hesitation.
Should have invested in the past? Of course you should have invested in the past. But that doesn't mean you shouldn't invest now. Why are you saying now isn't the best time? Because the price is high? What if the price never goes down? There are people that didn't invest because the price was 10k, 15k, 20k and so on. They thought that price will drop again. Did that happen? Nope. Will we see the $10k USD price range again? Don't think so. So don't wait. Or else you will regret. If you can afford to lose, then invest now. Hold it till you reach your profit goal and enjoy the ride! |
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Lol you are comparing wars with investment? That's the most absurd comparison I have ever seen. What happens in a war is totally different. And it is true that high risk gives high returns. As long as you willing to risk high, there is a chance you will make a profit. But the chance is very low, hence the term "high risk". Just because you are taking high risk doesn't mean that you will be making profit every time. There is a chance that you will lose everything. Think of shitcoins. They are high risk investment because 99.9% of the time you will lose literally everything. But again there is this 0.1% chance that might change your life. Now its up to you if you would like to risk it or not.
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-snip-
People discovered the underlying technology of Bitcoin and approved it. They also recognized Bitcoin's status as gold in digital world. Bitcoin's global consensus is expanding:
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I don't think people should be considering bitcoin as a gold in "digital world". This will just encourage people to use bitcoin as a store of value that will appreciate overtime. If this happens, we will never be seeing bitcoin used as a regular mainstream currency. - firstly, consensus is reached among Bitcoin believers,
- and then step by step this consensus penetrates different countries and central banks,
- and finally it'll be accepted by everyone.
I think the second and the third points should be swapped. At first people should start accepting/adopting crypto currencies. This will then force the government and the central banks to make crypto currencies a legal tender. |
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According to a new report that was published 21% of the gambling venues are located at the poorest areas while only 2% are located on the wealthiest parts of the country, this is being used as evidence the poor are being targeted, but this could just be evidence that it is cheaper to rent at those places and the gambling outlets prefer to go there to save on rent, or that maybe those that are the wealthiest prefer to gamble online instead of taking their time to go to one of those places and as such there is no reason to set up shop on their neighborhood. So what do you think? Are the poor being targeted or there is another explanation for the data we are seeing? https://www.theguardian.com/society/2021/aug/23/uks-most-deprived-areas-have-highest-number-of-gambling-outlets-reportI doubt the casinos are targeting the poor only. That would be a such a bad business model, don't you think? Or are you trying to say that they are trying to take advantage of those desperate people trying their luck to get rich? Would make sense but I doubt that is still going to work for the casino in the long run. Like you said, highly likely because of low cost of rent and cheap labor is the key reason why they are located over there. |
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Lets say i want to sell btc today and reenter after months.
Should i keep money in usdc/dai/paxg(coldstorage) or shoud i split the funds on bitstamp, kraken, ftx in USD.
I do not want to keep funds in my bank account.
need expert opinion.
exchange hack is more risker than usdc invalidating my coins or reserves problem?
You have two options. First one is to convert your coins to a stable coin like USDT or DAI. Second one is to convert it to fiat. You can also store it in USD in exchange., but that would be really risky. You can never be sure how much secure your funds will be there. Within few months, rules may change, you may lose access to your account or the exchange might get hacked and no longer available. So, yeah. Don't store anything in an exchange if you are going to leave for months. The issue with stable coins is that they can be confiscated/frozen. Google it and you will know more about it. I would rather suggest you to convert all your coins to bitcoin and leave it like it is. Or just convert it to fiat. |
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I am a day old in this forum and am understanding some ways in which one can get rewarded and one of such is gambling, but again, one needs to understand the risk involved.
What are your guides from your personal experience of gambling?
First rule of gambling, don't gamble if you can't afford to lose your money. You don't gamble to earn, you gamble to have fun. And yes, there are risks involved and the risks are very high. The more you keep on gambling, the higher the chance of losing everything. Just remember, in the long run, it is the house that will always win due to the house edge. There are no strategies or "tricks" that can help you beat the house. Made some profit? Take it and leave. You should start thinking of gambling as a paid source of entertainment. Those profit are just extra money that you can use to have more fun. |
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I was just reading a report about BTC , A USA family sell all there assets and with that amount they invest in Bitcoin in 2019. as in 2021 BTC was on its peak ! So they get huge profit.
But as a dump then came in crypto market, for every investor it was really a great shock.
I am sure they were able to afford it, which is why they sold all their "assets" and put it all in bitcoin. In the end it did work out for them, right? If they were able hold for 2 years, I am guessing they were already financially stable. Got good returns, this is what matters. If they are smart, they would just take half profit, and keep the rest invested. The market dip wasn't a "great shock" to anyone. Everyone was expecting the price to fall down a little. You can't expect the price to keep on going up. What you people say about this topic ?
Should we invest just like them or should start with a less amount ?
If you can afford losses, then sure why not? |
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