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The analogy of war that you have given is very true and we all know brains of those admitted in army are brainwashed to such an extent that they are trained to think about nothing but their duty. To some extent they are our heroes as they protect us from the evil but the truth is that on the other side too are some similar heroes of that country who are losing their lives for that country. And all this has happened merely in a quest of power and resources.
Anyhow, coming back to the risk return things, markets are not similar to war in any context, people do say that wall street is a war from traders but truth is in markets it's upto you if you want to be the Hog that is murdered in the battle or the elite who make profit from this battle. High risk, high return is a thing but has to be done with your risk profile in mind. If you are risking more than you afford to. You might make profit for 99 days but will lose all that profit in a day.
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It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ainīt got any, you ainīt gonna invest". (I admit you could argue that you can borrow but still nobody ainīt lending ya if you ainīt gonna givvet baksh).
The basic concepts that will save you a 15 bucks book:
- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.
And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...
I would like to change the perspective, I would suggest rather than investing what you save, invest what you earn, I mean a set percentage should every month go to your investments and the remaining should be used as expenses for living, adopting this kind of culture in your life you will see you are able to invest much more money than the previous scenario, it's because when you have money with you, you will end up spending it some manner or the other, but if you throw it into your investment on the day you receive your earning, you would have just enough money to cover your expenses. But how about if you do just started up? If you dont have any source or anything that you do earn then you would be definitely be considering on risking out your savings first and its up to someones choice because when it comes to risk taking then this is mattering on someones decision so it would really be varying because once that investment is a hit then thats the time you can make up more savings but of course that would really be having corresponding risk then you should really be aware on that. First of all, get an active income source, in the leading years of your life it's idiotic not to have an active income source, these people advertising that retire at 25-30 are nothing but just lazy. Create an active income career too. Work at least until 35 if not more than that. A human body is made to work, and it's better to being doing an economic activity than to do a non-economic activity. Talking about risk, if your risk-taking ability is too low invest either outside crypto world or in very large-cap cryptocurrencies like the top-5 by market cap. Keep investing in form of monthly payments so you take advantage of averaging while bitcoin is in bear run. It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ainīt got any, you ainīt gonna invest". (I admit you could argue that you can borrow but still nobody ainīt lending ya if you ainīt gonna givvet baksh).
The basic concepts that will save you a 15 bucks book:
- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.
And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...
I would like to change the perspective, I would suggest rather than investing what you save, invest what you earn, I mean a set percentage should every month go to your investments and the remaining should be used as expenses for living, adopting this kind of culture in your life you will see you are able to invest much more money than the previous scenario, it's because when you have money with you, you will end up spending it some manner or the other, but if you throw it into your investment on the day you receive your earning, you would have just enough money to cover your expenses. I've also thought about this, but never dared to implement it. Likewise, I'm working an 8-hour job, and I'm currently able to live pretty comfortable, setting money aside each month. When I invested into DeFi/Yield mining, I thought that it would be a good idea to invest a couple of hundred dollars each month into other projects. I've actually done it once, in order to boost my investment, but I never proceeded to do it again, rather than invest my salary, I decided that it's safer to reinvest any money I earn through my main investment, without involving any external funds. I think your problem is diversification. Don't just invest in new project, create a mixed portfolio of cryptocurrencies, stocks even some bonds to hedge your portfolio, see the truth is even with cryptos taking over the stock market isn't going anywhere and is much less volatile than cryptos, so a certain set of investment should go there to make sure that you don't burn a lot of your money in new projects because those are really risky and you might never even get your investment back from them. In such projects, a person should not invest beyond 10% of his total assets. It's highly risky, you are taking a big risk for the return involved. |
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5. Never 100% on one trade, 20% amount with x3. This is what I learnt in my 30 days of trading and so far, I am doing really good. If any of you have some tips for me aswell, go ahead.  Don't put a percentage of portfolio for the weightage of trade. Instead, follow the risk-weighted method. This means that you put a caping for your risk per trade. For example you decide to risk 3% of your portfolio per trade let's say the portfolio is 1000$ and the risk per trade will be $30. Now you know your stop loss so calculate how many units of that crypto you can purchase. This way you can go up to any leverage because eventually, you will lose only a fixed amount up to your stop loss. But yes make sure the liquidation point is slightly far away from the stop-loss point. |
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Your opinion is needed concerning the above topic.
I think by economical you mean: Financially literate. Truth is that personal financial literacy isn't really taught in schools, especially in mid-income and low-income countries. Economics taught at school is entirely about the macroeconomic and microeconomic concepts of the Economy which are barely important for anyone unless he wants to make a career in Economics. More important concepts like personal wealth management are often ignored. The job mindset is inculcated that if you want to be successful there is just one route study, get a job and earn active income and that's life. |
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It is fairly obvious, but there are people out there that have written 200 pages self-help books and made a fortune out of them by simply stating this simple fact of life: "you can invest your savings. If you ainīt got any, you ainīt gonna invest". (I admit you could argue that you can borrow but still nobody ainīt lending ya if you ainīt gonna givvet baksh).
The basic concepts that will save you a 15 bucks book:
- you invest so that your money works for you. Even if you cannot drop your job, you can still live a bit better with extra income.
- Investing is sacrificing something today to get something tomorrow. This is just a definition. You save x today because you want 2x tomorrow or in year or whenever.
- The first step to invest is saving part of your income. No savings, no future.
- If you have credits unpaid (other than mortgages or other asset backed credits), you pay those first because they charge you a lot.
And from here we could start speaking on how are you going to save regularly, if it is going to be 10% of your income, or 5% or 50%, how are you going to learn about investing, etc...
I would like to change the perspective, I would suggest rather than investing what you save, invest what you earn, I mean a set percentage should every month go to your investments and the remaining should be used as expenses for living, adopting this kind of culture in your life you will see you are able to invest much more money than the previous scenario, it's because when you have money with you, you will end up spending it some manner or the other, but if you throw it into your investment on the day you receive your earning, you would have just enough money to cover your expenses. |
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If there are Russian users reading this, it might be good to begin learning about Monero and other anonymous coins. You cannot risk your wallets being tainted with dirty coins if it is not tainted already. Also, I know there might be some of you would who will use the argument that there was data from Chainalysis that showed only 1% of bitcoin transactions were criminal. However, you cannot trust the Russian government not to frame you or taint your wallet themselves. This is okay if your wallet holds only a small amount. What if you are a holder of $1 million in bitcoin? You might not be 100% safe. Russian Prosecutor General Igor Krasnov has revealed that legislative amendments are being prepared on the confiscation of crypto assets. A serious challenge is the criminal use of cryptocurrencies in our country, he said.
Russia is preparing amendments to the current legislation to allow for the confiscation of crypto assets found to be proceeds from crime, Tass reported Wednesday.
Krasnov said that virtual assets have become a source of income for criminals, emphasizing that cryptocurrencies are being used for corruption, including bribery. The latency of these criminal acts has recently been aggravated by the use of crypto assets as bribes, he asserted, adding that cryptocurrency exchanges have been used as a way of laundering stolen funds.Read in full https://news.bitcoin.com/russia-drafting-law-confiscation-crypto-assets/In any communist country for that matter confiscation by the government is a real threat. Who knows if you have received some money from someone who was a gambler or a scammer and as per the money laundering law you know are also considered as a part of this whole act? Will you be given a chance to explain that this transaction you made was for a legitimate cause? Even if you are heard what are the chances that this would be believed? Confiscation is a really huge blunder that these governments are going to do, this way almost anyone can be caught into the whole act even if he is entirely innocent. @o_e_l_e_o. What the Russian government can do is hire a service similar to Chainalysis and blacklist certain addresses, warn exchanges of those addresses and follow those wallets transactions. I am not quite certain if exchanges are fearful of the Russian government enough to freeze accounts that have received transactions from blacklisted wallets, however.
How can they seize something they cannot see? That is my question! If someone has, let's say 10 btc in cold storage and only him/her knows about that btc, how is any state with any perfect crypto bill, able to do anything about confiscating the assets? Of course if you know somebody has got btc than you could force him/her to hand over the keys, but if there are no "visible" keys, what are they going to confiscate? Oh C'mon, privacy is a myth in today's world, you are leaving tons of data every day on each and every website that you hover on, forget about any government I think even a normal ethical hacker would be able to find identity of 90% of people on this forum. |
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You see TESLA has now more or less become the Apple of the Vehicles Segment. They are bringing in the technology which was never in the thought of by any other automobile company. They have the edge of technology and an existing loyal customer segment by their side.
Just like Apple? Yup, they have actually not invented anything and they have just taken existing designs and made them cool. I am sorry if you don't know but this is what inventing means in the 20th century. You can Invent anything but the one who makes it worthy for selling is the one who gets the credit. No one needs Inventions, people need products. Also, They obviously would have known from a lot of years, that competition into their space would eventually come today or tomorrow. So I don't think this is going to be a big blow to them.
Times are changing Tesla's market share of the global electric-car market fell to 11% in April.The other car manufactures have learned that you simply need to make electric cars look like normal gas cars, not some idiotic futuristic design, and now VW is simply trashing Tesla in Europe and wat till the Audi starts delivering all their models. The fact that Europe will publicly subsidize these changes means that Tesla will no longer have that competitive advantage and that one of itīs moats will be gone in 5 years.
Tesla has benefited from them too both in the US and EU with all the discounts they've got, just their factory in Germany got 1.2 billion. All those cars sales to date have benefited from "credits" to consumers which were just government subsidies but spent indirectly, so it's not like the others are gaining an advantage but more like that match is equal now, traditional carmakers and their buyers were taxed before while Tesla was subsidized, now it's a more equal game I think anyone can understand this basic concept of Business, it was obvious that other companies would sooner or later enter into the market, Tesla has its own USP and therefore also has its own customer as well as a fan base who likes the futuristic design, for you, it might be idiotic, for someone your design might be idiotic. Tesla has focused more on gaining a Competitive advantage based on product differentiation. Bottom line is that they have been able to sell cars at a constant CAGR: https://www.statista.com/statistics/502208/tesla-quarterly-vehicle-deliveries/ despite being a very new company when compared to others some of whom even have experience of 100+ years. Talking about subsidies, which company leaves the chance of getting subsidies while opening a new Manufacturing Facility Abroad? Lobbying and Diplomacy have always been part of every business around the globe. These traditional car makers too would have taken a hell of lot of assistance at the time of their openings in almost every country. |
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A significant part of the European Recovery Funds will be channelled towards reducing the carbon emissions. This will include solar energy investments, other renewables but also public investments in car makerīs factories to prepare the massive introduction of the electric cars. One of the key selling points of Tesla stocks is the fact that it was born electric and does not have to spend money transitioning as opposed to all major car makerīs. The fact that Europe will publicly subsidize these changes means that Tesla will no longer have that competitive advantage and that one of itīs moats will be gone in 5 years.
Hi Elon: "Say Dooooge"
You see TESLA has now more or less become the Apple of the Vehicles Segment. They are bringing in the technology which was never in the thought of by any other automobile company. They have the edge of technology and an existing loyal customer segment by their side. Also, They obviously would have known from a lot of years, that competition into their space would eventually come today or tomorrow. So I don't think this is going to be a big blow to them. It's just a usual free-market phenomenon, whenever there is a supernormal profit scenario in a business, new businesses kick in to bring down the prices to the equilibrium. |
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Valuations of this kind must be carefully understood. For example, you call unicorns to new companies that reach a valuation of 1 Billion. That does not mean that someone has actually paid 1 billion for it, as the fact of reaching a marketcap of 1B does not really mean that someone would buy 100% of the project for that price.
How does this really work then? Easy to understand with this example:
You create a company with venture capital. The owners and the team have 100% of the shares and there is no real valuation of the company at that point. Your company is doing great in growth, but, as usual, it is burning through money. The owners decide to raise more money. It could by by floating, IPO or a financing round - does not matter for our example.
The owner manage to get a deal selling 5% of the company for 50M USD. The valuation of the full company at this point, since there is only one deal, is set at 5% for 50M, thus 100% (all the company) is valued at 1 Billion. Thatīs it, it is "an unicorn".
You have probably noticed that this is not fully true. This means that someone has effectively valued the company at 1B and paid a 5% of the share at that price, but this does not mean that anyone would be ready to pay 1B for it or that other people would offer the same valuation.
This is the same when a project floats a small amount of crypto. The price may get very high if there is not that much liquidity and many people want to a have a bit, but saying that is the real value is a long shot.
If this is not a valuation then what actually is a valuation according to you? I think this really is the best way to value any startup or in fact any Company! Obviously the value of anything changes from person to person there is no universal value for anything around the world. If you argue in this way even the stocks that are listed are merely representative values because if the person holding even 5% starts to sell all of them stock price would tank a lot in a day. Valuation or Value of anything is best measured by "The last price paid by a buyer to purchase it". You obviously can make up your own value-based on your own usage of that asset but someone might value it even less based on his usage. If Bitcoin's price is $34000 today, if someone holding 5000 bitcoins decides to sell it, he might be able to get just $30000 for most of his bitcoins. Paxmao, I understood your example but I'm afraid people reading it might come away with the impression that this is the case with every company--and it's not. It could be the case that only 5% of shares in a privately held company could give that company a $1 billion valuation, but there are companies whose valuation is lower than what they're actually worth--and those are the types that investors like Warren Buffett likes to invest in (and invariably they're not the "unicorns" of Silicon Valley that I think you were referring to).
With a company that's gone public, it's pretty simple. The market cap is the value of all the outstanding shares, and that's how most people put a valuation on the company. But there are other ways to do so, e.g., by looking at its breakup value, or how much money could be gotten out of it by breaking it up and selling off the pieces. That's what the corporate raiders did so often in the 1980s, and again, they usually did it because the market value was below the breakup value.
Anyway, with crypto none of this applies except for market value--and that makes things a hell of a lot simpler, if you even care about such a statistic. Personally I think it's meaningless. If you're looking to corner the market in a coin (and I have no idea why anyone would want to do that), then it might be useful but otherwise it's a piece of data that gets way more attention than it deserves.
You are right, even in the case of publicly traded companies, no one obviously is willing to buy 100% shares of that company on the total market capital. If we look at it this way the concept of valuation would cease to exist. A very important concept here is Synergy It would make more sense for an IT Company to pay an even higher price for a blockchain startup because it would get synergical benefit from it which an automobile company might not get. |
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"The hardest thing in life is not about how much money you can make, but how to keep your mind calm and live the rest of your life in a simple and carefree way". This is a quote that I think can inspire us as people who spend almost all of their time trying to make as much money as possible by trading or other jobs else online or offline. The above quote is from the famous actor Chow-yun-fat that I found online.
We know that the price of bitcoin is never stable and very volatile. When we are involved in the market and have invested most of the money, it is almost impossible for us to just leave it without paying attention to the price on a regular basis. Bitcoin price fluctuation affect trader more or less psychologically, so it is true that there is an unknown mind burden in it that make it difficult for us not to stare at the monitor, especially when price are dump.
What will you do so as not to burden your mind with bitcoin price fluctuation? We all know that currently the price of bitcoin has fallen by as much as 47% from ATH.
I always advise a few things to newbie traders or traders who are unable to find the right path in their trading. Actually, the truth is that most of the traders are directionless they don't know why are they in the market. The simple answer of "making money" isn't really a valid answer. What you should actually have with you is a plan. A plan on how will you grow your wealth in trading and how much you want to grow it? The moment you set your expectation from the market and then you start to trade you will know that what is the peace point for you. Just make that much and let the market burn or fly to peak you don't care. This is the only way to be peaceful in trading. Also, be ready to take a loss too and define this loss percentage too. Just like any other business this business too, comes with certain inherent risks. Accept the risk and be ready to face a loss. 1. Make sure you define what you are ready to lose which will not disturb your mental peace. 2. Make sure you know how much is the maximum you want to earn, Remember there is no endpoint to your greed so set a realistic expectation. 3. Get out of the market for a certain period immediately after you either make it or lose it. These are secret mantras that can help anyone stay peaceful along with trading too. Also if someone is still holding a position from 47% ATH until now, he isn't really a trader he is just a person who thought he is a trader but now he is a long-term investor. |
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Most people in the world do not get the chance of doing anything remarkable in their lives. Many may do things that are significant for them, but usually, chances of doing something that will change humanity, its culture and its way of thinking are remote. People involved in the French Revolution, artists in the Renaissance, philosophers in ancient Athens, ... they did things that left the world changed.
Most of us have some bitcoin. A few have a lot of bitcoin. Just think that for any reason, in 5 years or 10 years, something happened that dropped bitcoin value or made the network unusable or whatever event or combination of events made it impossible to use it any longer. As far as I am concerned, I can say "I was there and, at least, it was something great and I was part of it". When bitcoin fades, the way people think about currency, self-governance, trust in a system will have changed forever. And you will have been part of it and be able to say "I did something great and it changed the world".
I'll be honest, based on my surroundings I don't think Bitcoin or cryptocurrencies have been able to make that big an impact on the " payments system". Yes the level of adoption has increased, a lot of people know about bitcoin and invest in cryptocurrencies now and they have become a big market for hedgers, arbitrageurs, traders, and Investors but at the same time in the payment stream, except for EL Salvador there is nothing we can boast a lot about at this point of time. But yes the technology of blockchain is really something that has changed our lives forever. --snip-- Just think that for any reason, in 5 years or 10 years, something happened that dropped bitcoin value or made the network unusable or whatever event or combination of events made it impossible to use it any longer. As far as I am concerned, I can say "I was there and, at least, it was something great and I was part of it". When bitcoin fades, the way people think about currency, self-governance, trust in a system will have changed forever. And you will have been part of it and be able to say "I did something great and it changed the world".
There there. I don't know what is triggering your existential crisis but I find it very defeatist to think that you can just sigh away on a future thinking" I was there". The premise that Bitcoin will fade in coming years is something that those at this forum shouldn't accept in any scenario. The biggest tech companies are already deciding how an average human's life plays out. The banks are already deciding that they'll track your expenses and incomes from life till birth with CBDCs. The only thing that gives you an option is this decentralized network of peers called Bitcoin.
If it ever comes to the stage that it is fading, I think the renaissance moment for everyone on this forum will be to take a stand for liberty and run a full node and a miner..  I mean the price of Bitcoin doesn't have to be 100K for the network to continue and survive. The developments can always continue and we can always have Bitcoin. So stop being so gloomy buddy, you may still have your moment in the sun. Just on the CDBC thing, and a bit out of topic, why do we even relate CDBC with bitcoin? Apart from the technology, I don't think they will provide any level of decentralization to the users. Infact it will just make the governments more into what we are doing in our daily lives. |
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Presently, Bitcoin is considered by the U.S. government to be a "convertible virtual currency". The term virtual currency refers to a medium of exchange that can operate like currency but does not have all the attributes of real currency, as defined in 31 CFR § 1010.100(m), including legal tender status.1515. CVC is a type of virtual currency that either has an equivalent value as currency, or acts as a substitute for currency, and is therefore a type of value that substitutes for currency.
(m) Currency. The coin and paper money of the United States or of any other country that is designated as legal tender and that circulates and is customarily used and accepted as a medium of exchange in the country of issuance. Currency includes U.S. silver certificates, U.S. notes and Federal Reserve notes. Currency also includes official foreign bank notes that are customarily used and accepted as a medium of exchange in a foreign country.
According to FinCEN guidance, if Bitcoin becomes legal tender in El Salvador and is used as a medium of exchange, it would no longer be classified as a "convertible virtual currency" or even "virtual currency". It would become a "real" currency. That would result in a huge legal change in the treatment of Bitcoin. The laws and regulations that apply to it as a CVC would no longer apply. Instead, I believe that it would be treated as a foreign currency, with all the laws and regulations surrounding that. I'm not an expert on foreign currency regulations, but I do know that one change would be that small amounts of a foreign currency can be spent or converted without being taxed. No more need to track every single time you spend or trade bitcoins. As per the core legal terminology, you are right. But there is a basic law understanding rule that would help here: Specific law always prevails over the generic lawThis means when there are two conflicting laws or two different interpretations of laws, the one that is more specific in the situation or to the case would be applicable. Here when the US has already classified it as Virtual Currency expressly, there is no way you can fight upon the fact that it is a foreign currency too. Because Courts would argue if the Senate wanted Bitcoin to be considered as a Foreign Currency it would have never brought a law to call it a virtual currency in the first place. Forex traders pay taxes on their capital gains in the U.S.
Traders, sure. But as per Code 998 section (e)(2)(B), transactions which realize gains of $200 or less are exempt, which would allow bitcoin to be used for daily transactions and spending without the ridiculous situation of the IRS wanting people to report capital gains on buying a cup of coffee. I'm not holding my breath, through. The IRS can change their notices on a whim, so I'm sure they will continue to state that bitcoin is not a currency and will not be taxed as such. But if it becomes a foreign currency then the FED gets the power to regulate its usage, the Federal Reserve is the forex custodian and makes laws relating to usage and holding of forex. On one side we might get relief from IRS but then FED could get an upper hand here. |
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Perhaps many don't know, but Steam accepted Bitcoin payments some time ago, but stopped in the same year (2017).
Do you buy Games paying with Bitcoin? Electronics, headsets, peripherals, etc. Paying with Bitcoin, LN or Altcoins?
Until big websites like Amazon, AliExpress etc. Will start accepting Bitcoins ot altcoins there is a rare chance that major chunk of people will buy things using bitcoin. These websites actually account for most of the e-commerce sales rest of the e-commerce stores especially the private stores just account for a small percentage and are generally niche specific, only thing I have bought so far in my life using bitcoin outside forum is hosting and domain. Namecheap was the website from where I bought these things. But no tangible things bought so far. |
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How do you respond to the coming regulations that will likely crash crypto ? Micheal Burry, the guy played by Christian Bale in The Big Short, predicted the housing crisis, bet against Elon Musk, got in on the gamestop action etc has been tweeting about a huge crypto crash due to a Govt crack down. I believe he's referring to the fact that G20 Governments have commissioned an organization called FATF to come up with international regulations for cryptos in October. Below is a reddit post on this and the paper linked there. https://np.reddit.com/r/CryptoCurrency/comments/o9fd7l/governments_planning_global_coordinated/ 1. Michael Burry recently predicted that a very big crash is coming in the stock market too which means not only crypto is going to suffer but the global Markets as a whole would suffer. 2. Most of the people really don't consider Michael Burry an intelligent market forecaster, infact most of the people consider his 2008 prediction as a mere guess or chance. Because most consider that he build his thesis of crash only after the crash. 3. Talking about global regulations, I don't think countries would take such a big decision on a global forum, today millions of retail investors have put their money into Cryptos, if it goes down due to such news all the countries would consider these leaders as culprits and they could face serious political backslash in their countries. There might be a lot of discussion but I doubt there would be any hard pact on it. |
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I've heard about some countries beginning the development of a CBDC (Central Bank Digital Currency). With crypto/Blockchain tech becoming extremely popular since the start of the pandemic a year ago, we'll be heading to a new era where paper money will cease to exist. Crypto still has some challenges to overcome (like scalability, fungibility, and volatility). This will not be a problem with CBDCs as they will be manipulated by governments and central banks to a greater extent than today's Fiat currencies. All it takes is for central banks to copy Bitcoin's (or Ethereum's) code to start their own digital currencies for the whole world to use. Now, the real deal would be getting people to adopt a new kind of money when they're used to paper money and credit/debit cards. Not everyone is quite fond with crypto/Blockchain tech these days. Third-world countries will be the ones left behind as they lack the infrastructure necessary to make CBDCs a reality. How fast will it take for the whole world to switch to CBDCs is beyond me. Time is moving fast during the COVID-19 pandemic, but there's no indication of a CBDC launching soon. I wonder how long will it take for CBDCs to become a reality? Will it be decades or centuries from now? Do you think it's still too early for CBDCs to come into fruition? If not, why? What may be the cause for delaying the launch of the new digital Fiat system? Your input will be greatly appreciated. Thanks. CDBC will take a long long time to become a reality, first implementation would be just backend, like you won't be able to use CDBC but the banks will exchange their money in form of blockchain and slowly it will be brought to retail customers, but don't expect paper notes to be eliminated anytime soon, I think they will float around together with CDBC for sometime, also CDBC unlike the expectations of most of the people aren't going to be so transparent and decentralized, the Supply could still be controlled by government. |
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Elon Musk and Jack Dorsey agree to talk about bitcoin at an event in July... Seems like these two might have a plan for Bitcoins future. What direction are they taking? Can their power combined control the sway of Bitcoins future? I don't know why people give attention to what two businessman who have no relation with Cryptocurrency say. They both are crypto enthusiasts but honestly they have harmed the crypto society more than they have benefitted it. Especially Elon musk with his speculative behaviour on shit coins. No matter what they say, they are not going to do any crypto startup atleast until they are connected with Tesla and twitter respectively, so in any way all they are going to do is present their views which really shouldn't matter a lot. |
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Governments way of earning something extra from miners. Lol. Also considering that electricity rates in Kazakhastan are pretty cheap I don't think there would be a lot of problems for any miner there. This extra cost would just hit their P&L a bit but this won't harm the industry overall a lot. Also shifting your mining setup out of a country is a hefty cost in itself. I am sure this small amount of tax will cause anyone to take up the decision of moving out as it'll never justify the cost involved in moving your whole setup. But yes I am not sure about the cost of Mining Rigs in Kazakhstan, so for some who had thought of breaking even, their break-even points might shift ahead by some time. |
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I've been following a few Telegram conversations recently and I've seen a new project type that involves people hanging on to their tokens or coins and then passively earning BNB or another coin. Of course, this might be a wonderful marketing effort to get people to buy the primary token being promoted...after all, who wouldn't want to have passive income?
But, of course, we are always skeptical...do you believe that a programme like this can truly succeed and last? Or is this just another avalanche of meme token metamorphosis?
Are you talking about staking? Because staking is an existing concept. It works basically around the tokens which work on the Proof-of-Stake(PoS)[ADA] system rather than Proof-of-Work(PoW)[ETHER & BITCOIN] System. I think what these programs would essentially do is stake your coins and therefore create a staking pool and then get involved in the process of validation of block. With the power of a group of people, they will be more likely to get a chance of validation, and therefore the rewards will be better and higher. Then these rewards would get distributed among people who staked their coins. Most of the exchanges offer this staking too. This isn't anything new. |
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For the previous few days, Bitcoin has been stabilising between $31,000 and $40.000. The bulls are presently trying a rebound after the bears failed to keep the price below the range's support. The relative strength index's positive divergence suggests that bullish momentum is building.
Actually, a lot of positions have been opened in this accumulation area of 31k-40k but I am not sure which side positions have been accumulated. There are good chances that these can be short positions for the downside which means even after a good RSI market may fall downward after hitting the 40 RSI mark indicating continuation of the Bearish Phase. Also, the Divergence of RSI isn't a very accurate indicator alone. It should be supported by some trading pattern or strong price action. Trading pattern we are currently getting is descending triangle while the price action overall is quite bearish. |
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The founder of Tesla and SpaceX, Elon Musk, again stirred up the cryptocurrency market on Friday, leaving a seemingly harmless message about his new dog. He said that he chose a nickname for his Shiba Inu puppy. His name will be Floki. In early May, Elon Musk first announced that he intends to take a Shiba Inu puppy. Then the cost of the Shiba Inu cryptocurrency increased by 68% in an hour. After Friday's announcement by Musk, the Shiba Inu exchange rate increased by 26%, but later corrected. However, another thing is more interesting: 9 minutes after the appearance of Musk's post on Twitter, the Floki token was created on the decentralized Uniswap crypto exchange. Within an hour, its price increased by 795%, to $0.000000001100. As a result, the growth was about 3500%. Do you think this is another attempt to influence the crypto market? Will the project be eco-friendly, because in the case of chia, everything was not so positive? There are already green projects on the market, for example, Crypton , for mining which only needs Internet access and a PC. Is all the excitement around the project really a hype? Like chiahype and etc.? I don't exactly blame Elon Musk for this. The thing is that there are some very smart people who know how the sentiment of new traders work and they know exactly how to manipulate these sentiments. This is why the Shiba Inu coin was invented in the very first place. Also, not only the price of Shiba Inu rocketed up but at the same time, the market capitalization of this coin went so high that it came into the top 50 cryptocurrencies, which is really something huge. But all this is just a hoax, a modern-day scam in which the culprit are the people themselves. I don't blame the token creators for this at all and neither do I blame Elon for this, people themselves are responsible for this. |
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