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So you don't own Bitcoin at all? What a shame.
I understand dedicated altcoin investors, but I don't wand will never understand an altcoin investor who doesn't even have 10% of protfolio in Bitcoin.
On top of that you don't have any "important" altcoins.
One look at the chart of LSK assures me that it's a shitcoin.
33 USD top and for the last 2 years the coin oscilates around 1 USD. Any coin that can't even hold 10% of its peak value year after year is garbage.
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When you think, using "safe asset" word for Bitcoin could be strange. In the end, Bitcoin is volatile and fiat money isn't. However, fiat money can always be manipulated easily or go down in value while an economic crisis. But there is no such thing that a government etc. can control Bitcoin. In an economic crisis, Bitcoin will be better choice compared to fiat money.
Volatile doesn't mean unsafe. Bitcoin has a history of sudden moves but these moves matter only for those who want immediate access to the money. If you are thinking of storing value for a long time like people do in government bonds you don't need fast access and can ignore short-term crashes and pumps. |
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I saw data from exchanges that showed the number of speculators is steadily falling since 2018 and the number of holders increasing. This is good and bad at the same time. Good because more people believe in Bitcoin. Bad because it reduces the supply available on exchanges makindg it easier to manipulate the price.
Also the age range 26-50 is kind of small we have people who are young and are really really positive about all this.
They were looking at traders and people below 20 rarely have enough money or aren't experienced enough to invest serious money. |
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I mean he obviously responded to the part about buying bitcoin and being in the old system as in having a bank account. So he said that he is in the old system and will buy bitcoin.
Maybe he's a man of few words? Don't know him enough to be confident about his intentions, but it was a positive response.
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The purpose of mixer was not for money laundering and it to provide people the privacy they need which is the reason why they are legal not because hackers seized the opportunity of using it.
And what if it was used for laundering. It's not the fault of the mixer that someone uses it to commit a crime. It's also not the fault of a knifemaker that his product can be used to kill They are literally useless if you don't have anything to hide.
And what if I simply earn coins every month and want to hide from people who know my address like my employer what and where I'm buying? Most people have something to hide. If you keep exposing your privacy to the world sooner or later you'll regret it. |
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They can ban it but banning Bitcoin would make them lose potential profits from taxes. Rich investors and traders pay high taxes but if you ban Bitcoin they will have to sell somewhere anyway. It will be cheaper and safer for them to move abroad and sell there than do it under the table.
It's very easy to put your coins on a memory card and take a jet to South Korea, Japan, or werever you like and trade there. The whole world would have to ban it at the same time for this to work and this will never happen.
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Probably a dip, as people would probably be more confident to allocate money to businesses/companies(and away from the hedges like gold) that are halted by the pandemic, but I'm not really sure about a "crash".
I'm personally expecting a bigger dip with gold than with bitcoin though; bitcoin has been pretty much mirroring the S&P500 for a while now.
I don't agree with you about this. Maybe if Bitcoin was going up during the pandemic, but it actually crashed when it begun in Spring. Before the pandemic the price was at 10 thousand and went to 4 and back to 10 in the next 6 months. Without the pandemic we could say that there wouldn't be a crash and Bitcoin would be going up from March to at least 14 thousand, a short term top from last year. It was mirroring S&P and it will be mirrorring it when covid ends. |
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BItcoin cant even go back to $15000 and struggling to pass 12000$. So maybe $100k price of bitcoin will only a dream to everyone who are waiting for it.
People who were observing the bear market of 2015 were saying the same thing that if it can't even rebounce to 300 USD how can it ever go back to the ATH of 1000 USD? You can imagine how many people sold when Bitcoin went to 200 USD and then 100 USD. They made a huge mistake. I think that if we go above 12 thousand we'll go much higher and much faster. |
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Do we have insurance for stocks?
You can insure your bank deposits and stock market investments. It's not worth it though. In the US the FDIC takes care of this. Do we have insurance for real estate?
Yes we do. Insurance companies will go bankrupt if they start insuring volatile assets.Bitcoin is not business its just an asset and there is no company will be ready to insure any assets.
They won't. They calculate the risk. The more volatile the investment the more you'll have to pay to get the insurance. |
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If bitcoin will never reach ATH, then you'll continue to suffer losses. The market always fluctuates all the time, take advantage of it to cover your losses without even waiting or hoping for ATH to be reached.
While this could be a good general advice, telling people to do it when Bitcoin has begun another bull post-halving cycle isn't such a good idea. If you bought near the ATH he time to sell was when Bitcoin fell below 10 thousand USD in 2018 and later again when it broke the 6000 USD support. If you did that you'd be able to buy near 3000 a couple times then again at 4 and 5 asll the way up. Selling when we are over 10 is a bad choice. |
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Unfortunately for DEX platforms the majority of people prefer to sacrifice their anonymity to get fast and cheap trades. Dex has been popular because they thought they were safer since they don't keep the seed address of the wallets but after what happened to Dolomite exchange I wouldn't say that again, Plutus defi was one of the hyped project but Dolomite.io got hacked and $PLT ico was a total disaster, so I prefer safety rather than SEX or DEX .
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I'm not able to say what cryptocurrencies in general should do because different cryptos aim for different results. Some want to be centralized bridge currencies, some high privacy payment solutions, some decentralized stores of value. There's really no one good answer for your question OP.
Maybe recognition. They should be explained well and approachable by the masses.
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I think that they won't be higher. The lightning network will lower them and in a few years if it's not enough people will think of something better.
Bitcoin is a code that can be change and made better. Maybe one day it will be worth so much that we'll have centralized payment systems built on it that will use real bitcoins as collateral.
Another thing is the cost of a transaction. 10 years from now it could be 50 USD but that 50 won't even be worth 5 of todays Dollars.
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But in the future, electricity consumption for crypto will increase significantly. Is the world ready for this?
The law of supply and demand is in effect. If the world decides it cannot mine Bitcoin because the energy consumption is too high it will not. Bitcoin doesn't force us to do anything. It can also be the other way round. The drive to mine BItcoin will be so high that people will build additional power plants. It's not a bad thing. There's so much unused space around the world like Siberia, Alaska, Iceland. Maybe one day we'll have the need to industrialize it. |
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I strongly agree with you that it is time to call more people into crytocurrency.Looking back to when bitcoin and ethereum were developed one can say that the future of cryto is bright and with the recent development of different booming defi projects I think it is time to introduce many people into it so that many will benefit from it.
And I don't. With so many scams in defi I wouldn't want to risk my reputation (if I had a reputation in social media). I also wouldn't invite my family members into this. I can tell them about it but the decision must be theirs. If you want to call people into crypto don't let their first investment be a defi scam or some shitcoin traded on some shady exchange. |
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The thing about printing money is that it makes your money a lot less valuable, when it doesn't worth as much as it used to you have to pay more for stuff and when you pay more for stuff you end up having more debt for it and when you have more debt there is a crisis and when there is a crisis you print more money. You see how it goes around in circles?
This is exactly why I believe it should be noted that governments should not print money, no matter what the situation is, flushing down the economy time to time would teach people a lesson, some will be super poor, but people are poor already, but in return we will get hundreds of billions of dollars (even trillions) not going towards companies, those companies will bankrupt and this will give a lot bigger lesson to be careful to companies than people.
Printing makes money less valuable so it's bad for people with savings but it also has some positive sides. People who own property will see it retain its value and the newly printed money will save the economy from going into full recession shutdown mode. If the US economy does recover the stock market will go back up and so will Bitcoin so let's hope this is more than a prediction. |
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Billionaires have a very different mindset than the common people. They usually don't exchange a potentially profitable asset against a depreciating asset. Bitcoin has a very high profitability potential whereas the private jet will only depreciate in value over time.
I am sure no billionaire will buy this private jet using bitcoin as a medium of exchange. They would rathe use cash from their bank account.
You're right it's a very dumb way to spend money. Even if you had millions of dollars having a jet is not like having a car. You can't put it in a garage and drive it on Sundays. A jet has to be stationed and fueled at an airfield. They charge a lot of money for this. You need pilot license that costs a lot of money and you need maintenance checks. Washing a Jet is not like washing a car same as changing wheels or any other parts when they break. You need to go through a checkup every time something is fixed so that your plane won't blow up in the sky and rain fire on some town. You will spend a million usd on a plane and another million in bills over the next few years. |
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Not your keys not your Bitcoins it doesn't matter that they were stolen. You gave them the keys you gave them the coins!
The moment those thieves got hold of the coins the exchange stopped being the owner. There are no returns or chargebacks with Bitcoin. They can't demand any compensation from Binance.
Also even if they have proof that coins were deposited on Binance that's not how KYC laws work. You can deposit without KYC and you can also withdraw without it just within small limits.
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Storing in large exchanges and implementing AML / KYC and many other layers of security are better than trying to keep them in devices like Ledger, Trezor, or on a computer. They are at risk when we lose the device or get a virus.
I usually keep my money on exchanges for many years. Most of them are reputable exchanges and large exchanges because they have better security systems and can return the money I had stolen if that happened.
So you also keep your money on disreputable exchanges? Why do you do it? To feel the thrill that they could run with tyour money? Is the market not volatile enough for you? Losing the device doesn't mean losing the coins. You talk like someone who never owned a hardware wallet. Yobit pay much more the 1% a year, do your research. There plenty other places as well where you can get 8% on your holdings.
This doesn't make them any less shady, on the contrary. I said 1 because many exchanges don't pay anything. Usually the worst exchanges pay the most. Guess why. |
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The first main reason is that exchanges pay you an interest rate on your Crypto whilst cold wallets pay none.
Only some of them. Coinbase doesn't pay you anything. Some exchanges like yobit are really shady. Holding money on exchange in hope of earning 1% a year is really not my thing. Secondly, we definitely believe that more and more users would move into hot wallets than using cold wallets, Ledger.com could become the next "Netscape" and then if your hardware device gets faulty and you would need support from Ledger.com - then you might find yourself in trouble. It's not a wild guess, this could seriously become the reality in the next few years.
If my wallet breaks I'll still have the seed. Do you have the seed for your exchange wallet?  |
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