I first got into crypto in February this year however did not start investing in Bitcoin until June after the crash as I felt it was too expensive until then.
I have been DCA now since June and my average buy is £17,100 and I have 6% of a Bitcoin which I know is not much but I have been taking it slow and feel it is slowly growing whilst buying at these lower prices.
I watched a clip on Youtube earlier saying how Bitcoin is great however it is limited in terms of profit potential and it got me thinking if I should keep DCA into Bitcoin or sell it all and put into Altcoins that are likely to return much more over the next 2-3 years.
I mean how high can Bitcoin realistically go in the next 2-3 years? £150k maybe which would be less then 10x compared to other altcoins that can 20-50x when the bull run returns.
Just wondering if everyone invests in Bitcoin or is it worth just focusing on strong altcoins that can 20-50x in the next few years?
I know I have got into Bitcoin at a good price but just feel while altcoins are currently 85-95% down from all time high may be better making the most of that rather then being safe with Bitcoin and not seeing much return.
I know it might be really confusing as to what to do in order to grow our portfolio to the max. But if I were in your place I would do both. As in diversify my investment into bitcoin as well as the altcoins. The problem with altcoin is that not all of them are worth our precious money. Many of them just dont return enough profits. So we have to be wise when choosing which altcoin to invest in. Once done, you can diversify your investment into both. The percentage really depends on you and I have personally done 40% BTC and 60% altcoins. |
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Let's say you join a give away with other user and both have to select a number between 1 and 10, you go for 7 while he goes for 9. The winning number is 8.
If the prize is 0.1BTC what would you do? Split the prize and walk away with 0.05 or Reroll to gamble for the full prize?
Split the prize ofcourse. The simple reason being that by splitting you at least have the guarantee of getting half of the reward. If you reroll there are chances that you might not win anything at all. Although there are equal chances of winning the full reward the opposite could happen too. So basically on one side there's a guaranteed half reward and other side you get full reward but not guaranteed. So I would definitely choose guaranteed half reward because something is better than nothing. |
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If you would have provided options and have asked us to choose from them then you would have got a good response.
But if you are asking what more can be done with dice then there's not really much to do with it.
The classic dice is the best game out there and you can include creative things like hitting specific numbers.
You can also include rewards for hitting the same number multiple times for example hitting the number 11 twice or thrice would yield a bigger reward.
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Today One Of My Friends Argued With Btc. Btc Is Not Backed By Any Asset Or Business. So Btc Is Only For Speculation Purposes.
Eth And Other Major Alts Have Asset Backing And Real Use Cases. For Example - For Eth; Smart Contracts Can Be Used In Contractual Deals.
Specially Alts Have Eco System. Btc Does Not Have.
I Stuck Because I Don't Know A Counter Answer To This. Please Explain How To Counter Attack This.
I think you are mixing up things. Bitcoin and Ethereum both are not backed by anything. Both are digital assets. The thing you are talking about basically is the utility. Ethereum's utility is smart contracts which people can use for a wide range of things. Bitcoin's utility is the coin itself which is decentralized and enables us to make P2P transactions. This is what you should counter with. Although these coins are not backed by anything they have their own values which I have just mentioned. |
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It has already been discussed quite a few times and you can use the search box to read more replies on this topic.
Generally there are two things to consider here. One is that the bitcoin holder has already informed about his holdings to his family/known person.
In that case he would have already created a will or informed them on how to access his funds when the time arises.
Second is that the bitcoin holder hasn't informed about his holdings to anyone. In this case, if his family/known person is really luck then he might get access to his funds.
For example, if the bitcoin holder had stored his funds on his mobile or laptop then his family/known person can get access to it if he is lucky.
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Ofcourse it will impact gambling sites and not only gambling sites but everything that is related to crypto will be impacted.
So whatever regulations are that are applicable on cryptocurrencies will be directly applied to all entities involved with it.
Further, separate regulations for individual entities might also be added. But yeah it's certain that these gambling sites won't be banned any time soon.
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Being in crypto, one thing I have learnt is how important is anonymity. Since we are using crypto with gambling sites these days anonymity can be achieved if we take the right steps.
The first and foremost thing is to gamble only on no KYC gambling sites which is exactly what I do.
The next thing is to use VPN or Tor browser so that we can add an extra layer to our privacy.
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But to play the devil's advocate, they "accept" Bitcoin "payments" through a centralized third party?
Of course. If they were accepting it directly they wouldn't need Coinbase.  Technically they're not truly accepting payments through Bitcoin. They're merely accepting payments through Coinbase, like they accept payments through PayPal.
True, but its important to take one step after another. I don't think that it is realistic to expect from such a big company like Google to start accept bitcoin directly P2P. I mean, it would be great of course, but even this is a positive thing. Slow and steady wins the race so who knows, in a few years they might start accepting bitcoin directly.  They would never accept bitcoin directly. I mean, common it's Google, they find ways to track our data. Why would they even consider using a service that doesn't give them enough data about their customers. I think they are partnering with Coinbase just so that they can get more data about people involved in crypto. There would definitely be some rationale behind this move from Google. |
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This was quite expected though. The money printing machine can't get enough with the printing. Increase in inflation rate was an obvious thing.
People I know already predicted that bitcoin price will decrease as soon as the CPI rates are out.
Panic selling will halt soon though. I don't think this will have a long term impact on bitcoin's price.
I "hope" this is the bottom and we do need a correction which bounces back bitcoin price above $20k.
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So dear colleagues, What are your expectations? other than price increase  *Do you expect to see widespread adoption and acceptance? *More involvement from big companies? *More popular? *Increase number of users? *Any other....... 1. Currently bitcoin is adopted by ElSalvador and Namibia and I think the adoption is growing. But we cannot really say that in the next 2 years the adoption will drastically increase. It will take its time. 2. Yes, I think more companies will be involved with crypto. Now that there are rumors that google will accept crypto for its cloud services. May be this will encourage other companies to accept crypto as well. 3. Ofcourse 4. Need a bull run for increase in number of users. 5. I think bitcoin halving will be a major event to trigger the next bull run. |
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Maybe the casino owners are hiring full-stack developers who test their code as well develop it.
Maybe they would have hired Quality Engineers to test the complete site for UI and UX.
The reason might be anything. Besides that, if someone is good at bug bounty they can find bugs from any site and just report it to the owner.
If the site owner would be generous enough then they would reward that person anyway.
As time evolves and new developments to meet up with present security demands are constantly contended against, most casinos already have highly placed security teams that work on updating and developing new anti-bug software that will help against any bug attack and leakage. Quite a lot of other casinos that have fallen victim to bug attacks suffered badly at the hand of abusers who took advantage of such bugs to abuse the system, but now most casinos are proactive against bugs and other security challenges. That is very true. Their proactiveness is the reason why there are less bugs in casino sites these days. That must be the reason why the bug bounties have decreased so much over time. In fact, this is good because as users we are getting a finished product rather than one with bugs which can compromise our privacy as well as funds. |
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You say most of the gambling websites are scam just because the edge is on the sites' side which is true.
But that doesn't mean that they are scam because it is a business. It is how gambling sites work.
We tend to lose money because the edge is on the casino site's side and it is logical for them to win in the long run.
These gambling websites are just meant for fun and not a way to earn. So you can't really say that they are a scam.
Yes, there are some gambling sites which are meant for scamming others by locking the deposits etc... and that's a separate thing.
Once you gamble, expect that you will lose more, bigger from the amount you might won. So never conclude that you have been scammed because you lose a huge amount instantly. It’s just that you are not good enough that day and your luck is not working, so losing is all you’ve got. And to think that the site’s house should always win because it’s a business, then you can never tell that this is a big scam. I guess you need to understand gambling more before you engage in it to avoid future regrets. Why are you repeating the same thing I said ? Either you have not understood my context or you might have understood but just adding more points to it. Whatever it be, the thing is that to conclude a site is scam just because we lost money gambling in it is wrong. A scam is something when the site has taken your money willingly without your approval. |
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Wow, this is such a good news. After El Salvador it seems that Namibia is setting the foot forward toward adoption of cryptocurrencies.
Lets see how this action turns toward their favor or not but I hope with this regulation, other countries gets encouraged to start accepting cryptocurrencies too.
I see that the announcement was on September 23 but still it's impact is not much seen on bitcoin price as the price is still around $19k itself.
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When I got home last night, my dad and I are eating some chicharon a.k.a. pork rinds while watching basketball on TV. Then suddenly my dad showed to me his iPad about Binance to check if its legit or not. I said that it’s legit once he installs the correct app and not the fake one.
I thought he just wanna install it and explore, but he seriously wants to buy some Bitcoin with his extra money that he didn’t need for now. He just wants to try buy and hold Bitcoin. He already knew that I am in this industry for a long while, but yeah it’s never too late for him to buy his first Bitcoin.
I have never convinced or forced him to buy BTC since I started my journey. He’s just being interested in all of a sudden that’s all. So I educated him about the basics, managing financial risks, fees, etc., letting him understand and acknowledge that there are no promises or astronomical guaranteed returns. I also sign him up on Binance using my referral link and assisted him in setting up 2FA, KYC, etc.
He wanted to buy using his credit card, but I rather have him buy through me instead to save fees since I can transfer USDT to his account immediately on Binance without fees and convert it into Bitcoin. So yeah now my dad has some Bitcoin in his Binance account.
That's really nice of you. I had done the exact same thing when my brother wanted to buy some crypto. I helped him setup binance and sent him USDT so that he can some crypto. Now even he is into crypto. But since the bear trend started his portfolio has gone down much and now he is saying to buy more so that he can dollar cost average. That is a good strategy actually and it's good to know that he is not ranting like others when his portfolio has gone down. |
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The first lesson that I learnt from this forum was "Not your keys, not your coins" and this holds true even today and forever.
Since the day I realized this concept I made sure not to accumulate my coins on an exchange.
Most of my coins are on non-custodial wallets. I say most because there are some altcoins which I do hold on an exchange.
It is only because of trading purpose though. The recent events have just raised the bar again and made people aware of the risks associated by holding the coins on an exchange.
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May be the casino owners are hiring full stack developers who test their code as well develop it.
May be they would have hired Quality Engineers to test the complete site for UI and UX.
Reason might be anything. Besides that, if someone is really good at bug bounty they can find bugs from any site and just report it to the owner.
If the site owner would be generous enough then they would reward that person anyway.
This is always the case right now. Casino has there own employee to oversee the security of the casino due to the huge amount of money involved nowadays in the casino. They are now investing on security compared before that they do it by themselves with the help of this bug bounty hunter. I remember that some abused this before by attacking the casino and reported it as bug to claim rewards. Nowadays those critical bug is already solved since most the games are now coming from 3rd party which has license and audit properly. That is a good point actually. Many gambling sites are hosting games which are provided by a 3rd party. So the hassle to maintain the code and security is gone from that perspective. This is a smart move though. All they have to do then is maintain the integration and front end which is easy to maintain. So the chances of bugs are less and may be that's why they are not hosting any bug bounties these days. |
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Well I am not holding much BTC in my freebitco.in account and so the higher interest rate doesn't matter for me as of now.
May be in future if I deposit some sats in my freebitco.in account to get interest returns then may be I will increase my FUN token count as well.
For the time being this would be my total count for FUN tokens.
If you don't have a lot of BTC on the site, than I would also stick to the level that you currently have. For me it is worth it, but you only get 2 WOF spins more and it is quite a big leap between level 2 and 3. If I buy more FUN tokens to accumulate 12500 tokens and reach level 3 then I will get 8 WoF spins. Currently I am getting 4 WoF spins so that is double than what I am having now. I will get 4 more spins. For the time being I will wait though. P.S: My fault, didn't get the calculation right. Ignore the above. If I buy more FUN tokens to accumulate 12500 tokens and reach level 3 then I will get 8 WoF spins.
Take note that you will get 8 WOF spins only if you hold those 12500 tokens for 360 days. You won't get that number of spins from the day 1. You will get 5 spins in the first 90 days, 6 spins in days 91-180, 7 spins in days 181-360 and 8 spins after 360 days. Thanks for the info. |
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The comparison is good but don't you think that is why we have stoplosses and target orders.
After buying an asset we should put a stop loss long with a target and hence the profit and loss are within our risk taking capability.
I am not sure if comparing trading with business is a good idea or not but we must make sure that our capital is safe.
That is the most important aspect of trading.
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As per my experience, On 2018 Smart contract bubble came to altcoins , so all related to smart contract Alts became giants at that time. 2021 hot topic were Gaming,NFT ,Defi
. I think for 2024/2025 hot topics will be " Web3.0 , AI, and Machine learning ". what is your thoughts?
AI and machine learning are the buzz words already being used. So I don't think people will fall for these buzz words again. For the next bull run there might be some new tech being developed which might be the next hot topic. If looking at current trends then web 3.0 and metaverse related projects might also shine in the limelight in the next bull run. |
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May be the casino owners are hiring full stack developers who test their code as well develop it.
May be they would have hired Quality Engineers to test the complete site for UI and UX.
Reason might be anything. Besides that, if someone is really good at bug bounty they can find bugs from any site and just report it to the owner.
If the site owner would be generous enough then they would reward that person anyway.
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