Binance collapsing will indeed cause a massive damage to the industry which will, in turn, pull the prices considerably down. But if this is what it takes for people to finally realize that centralized exchanges are a thing to avoid and are even antithesis to Bitcoin itself; if this is what it takes for people to finally embrace self-custody fully, I guess I will accept it. True, in that case market would crash and burn but Binance going down wouldn't drastically change how people perceive crypto exchanges, meaning they would still think of them as banks. One would think that after Mt.Gox fail we would have loads of highly popular decentralized exchanges like Bisq, while reality is diametrically opposite and centralized exchanges keep growing and spreading, with some of them like Kraken even announced plans to launch a bank. Its been proven time after time that majority of people prefer sense of convenience and false security over anything else and if not with Binance, they would find it with Coinbase or any other popular centralized exchange and all the bad stuff would be soon forgotten. Unfortunately, I have to agree with you. Sadly, all the evidences are pointing towards the probability of centralized exchanges continuing to thrive even if Binance will fall. Mt. Gox fell. There was the QuadrigaCX scandal. Bitfinex got hacked. Cryptopia collapsed. Even Binance got hacked and personal information leaked. FTX collapsed. The list is very long already and yet there never was a DEx that surfaced and stole the limelight. Other than the fleeting huge withdrawals, the disgust against the big failures and abuses of centralized exchanges didn't seem to bear fruit. |
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~snip~
You're right that many people are attracted to Bitcoin because it offers them the opportunity to make money, but that doesn't mean they aren't comparing themselves to the banks. Indeed, many people are using Bitcoin as an alternative form of investment and are comparing the returns of Bitcoin with those of traditional banks. I'm not sure if people are actually comparing this. For me, it makes no sense. My regular savings account in the bank doesn't even give me 1% of interest per annum. That 1% could be earned with Bitcoin in just an hour. So, they're not even comparable. Perhaps you could compare Bitcoin with stocks or bonds or gold but not returns from traditional banks. Even time deposits could only give you more or less 2% of profit in a year. Personally, however, I advise against approaching Bitcoin as a form of investment but rather as a free form of payment. Well, this is oftentimes just hollow words. So, while I may agree with you, the reality is that everybody is talking about the price, not because it strengthens the purchasing power of Bitcoin but because it means they are making more money. |
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Yeah, I also experienced this before. It was in ETH if I remember it correctly. I should have placed 0.01 ETH but ended up placing 0.1 ETH instead. I also lost it. It wouldn't have happened had I placed it as an early bet because I normally double-check my bets. But it was a live bet, and you know how live odds are very quick to change you need to be quicker in order to grab it right away.
I can still remember that after this, the same mistake happened. I was only lucky because my balance wasn't enough and it came out as an error.
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04- Darker45
Please and thank you, DaveF! Thanks as well, MJ!
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This is correct, but I don't think this is overlooked. It's just that many are not anymore comparing Bitcoin and banks. Many are drawn to Bitcoin not because it provides them the opportunity to be their own banks but because it provides them the opportunity to make money.
If there are people who overlooked this, they are the ones who embraced Bitcoin but also embraced centralized platforms at the same time. To a centralized exchange, for example, there are surely borders; there's in fact a list of blacklisted countries. There's censorship. There are also excessive fees on transactions. There are extra charges. There is also the possibility of a system failure. And then there's also the freezing of accounts and numerous limitations. There's also locking and confiscation of funds.
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It is funny, but it is indeed true that the cost of living is actually killing the living. I have personally known people who are working day and night just for the sake of existing. They're not even living; they're simply supporting their own and their family's basic biological needs. They're slowly killing themselves just so that they can meet what they basically need to continue surviving.
But what's funny is that the cost of dying is also killing the living. Before somebody dies, he/she usually goes to the hospital, admitted, takes a lot of medicines, even undergoes regular medical checkups and other medical sessions, and so on. And when he/she finally dies, the expenses doesn't end. Burial is costly. A casket is expensive. You pay for the one who leads the daily prayers and offer snacks to all who attend. The list of expenses goes on.
There is no way out. You live or you die, you are a victim of the rising prices of everything.
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Sadly a friend of mine was told about this exchange by a another "friend" so he invested a significant amount of money. Now that he wishes to withdraw it, they told him he needs to invest a minimum amount before they allow withdrawals, so he put more in. Then they say he needs to add another large amount for taxes before he can withdraw. This won't end. So you better advise your friend to stop feeding the scammers once and for all. Your friend has the choice to remain hopeful and send them more money and risk losing a much bigger amount or face the reality that he/she fell for a scam and lost money and that he/she won't risk any additional amount. Although this insurance scam is not really common, it is almost a standard among scammers to withhold withdrawal unless money is sent, but when the money is sent withdrawal is once again put on hold until additional deposits are made. This will go on and on and on. Nobody should be falling for it anymore. |
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~snip~
As much as I dislike centralized exchange, Binance disappearing is one of the worst things that can happen to the industry right now. We saw how the FTX drama affected the industry negatively, Binance crashing will do worst than that. Binance is the biggest exchange and if anything happens to it, it directly or indirectly affect the price of Bitcoin and Bitcoin users. Last year was a bad year for the industry and it's still trying to rise at the moment so we do not need more negatives right now. I do not agree that we're better off without Binance. I believe centralized exchange will always be a thing. It's just like the banks, at first people couldn't trust them because they kept losing people's money but with time, experience and research they got better at it. Binance makes trading easier for a lot of traders so it will be nice to have it around. Trading on centralized exchanges to me is not a bad thing, it's saving your coins in them that's the mistake nobody should make. Binance collapsing will indeed cause a massive damage to the industry which will, in turn, pull the prices considerably down. But if this is what it takes for people to finally realize that centralized exchanges are a thing to avoid and are even antithesis to Bitcoin itself; if this is what it takes for people to finally embrace self-custody fully, I guess I will accept it. That would be a lot better than the industry continuously ruled by huge centralized players that come and go. If Binance biting the dust would mean that the space would no longer see the likes of FTX, BlockFi, 3AC, Voyager, Celsius, and others hurting people and taking away their hard-earned money, I would welcome it. Although I seriously doubt lessons will be learned. |
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You don't have to wait for such an extreme event to happen to see some impact or disruption of the status quo. After all, it is simply wishful thinking to consider it possible that the majority of the world's population will suddenly convert all their fiat into Bitcoin. That's not going to happen. But the disruption is there. Remittances in some countries, for example, are done in Bitcoin. Some people have also quit saving in fiat and shifted to Bitcoin instead. I mean, there are small yet significant disruptions happening right now. There's no need to see shocking events just to see the impact of Bitcoin.
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I decided to go with these casino
thanks for your help,
1. stake
2.bcgame
3.betcoin. ag
4. bitsler. com
these all have all required condition
Are you sure that these four gambling sites have met all your criteria? I haven't checked them one by one but as far as deposits are concerned, all of them except Bitsler have minimum amounts. However, since there's a minimum bet amount on Bitsler, you still won't deposit an amount smaller than that. Somebody please correct me if I'm wrong. However, I'm almost 100% sure that when it comes to bonuses, all kinds of them, there will be wagering requirements. Gambling sites are not charity organizations. They don't just give money away. But I'm a little bit curious about your criteria. I find them a bit ironic. |
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If you stay in the forum for a while, you will somehow notice how there are more reputable casinos than others. Reputation here in the forum is earned. Besides the positive and negative feedback that a casino account here receives over time, there is also their official thread. There are threads that have lively and fun discussions but there are also others that are replete with complaints. Some complaints are even opened in scam accusations board.
As far as accusations are concerned, there are casinos that respond immediately while there are also others that choose to leave everything hanging and unresolved. Some casinos have more scam accusations than others.
I'm saying that this is probably enough and organic for users here to presume which one is worth depositing money to, which one is worth trusting and which one is worth avoiding.
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04- Darker45
Please and thanks, krog!
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In the first place, you need to create an account with Binance. You also need to submit and pass KYC. After that, you need to send your money to Binance. With this, how is Binance's peer-to-peer transaction a real peer-to-peer transaction?
Secondly, a peer-to-peer transaction doesn't simply mean there isn't a middleman; it more importantly means there is no third party that is powerful enough to censor and approve transactions. It means anybody could transact with anybody. With Binance, however, not only do transactions pass through a middleman, the middleman also screens P2P users themselves. Censorship is rather worse, therefore; it's on a different level. They not only get to decide whether a transaction should proceed or not, they also get to decide whether a current Binance user itself could transact peer-to-peer or not.
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So what is your issue with writing down your seed phrase under the same roof as your siblings? I suppose it isn't about them possibly tearing down that page or accidentally pouring a liquid on it or scribbling over it or anything like that. Is it about trust issues? If it is, you better device a way to keep your seed phrase in the most unlikely of places. Sometimes, hiding means keeping it in the open rather than keeping it in a secret place.
If you write it in a book, don't write it as a list. You might want to right one word per page. But make sure you also have backups. Use a passphrase also. While I also thought of keeping the passphrase to myself without writing it down, I think that could be riskier. So you better write it down as well but perhaps separately.
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Even though I love to gamble, I never thought of building my own casino. That has never occurred in my wildest of dreams. I guess a casino or any gambling business for that matter is not my cup of tea. If I have a billion dollars, I guess I will get into real estate business, although a beachfront hotel or a resort with a small casino isn't really a bad idea. But it's not gonna be a business solely dedicated to gambling.
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Actually, Bitcoin is already legal here in my country. It may not be a legal tender, but it is legally accepted, albeit not as a currency if my memory serves me right. But it surely could be used for payment, although once transactions reflect in the books, they will probably be denominated in fiat and not in Bitcoin or Satoshis.
There is even an undergoing effort here to create our own version of Bitcoin beach, probably inspired by El Salvador's Bitcoin beach. Some players are trying to replicate that here. Lightning payments are also accepted. So far it has limited success.
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And who can forget the first Bitcoin faucet in history? It gave away 5 BTC per customer. It's totally for free. There's no task required whatsoever to be able claim it, although solving a captcha was later on added. Gavin Andresen created freebitcoins.appspot.com so that people could try Bitcoin out. That was his way to spread Bitcoin. And he started with a stock of 1,100 BTC. Donation was also accepted and many made contributions. Even the Bitcoin OG, BitcoinFX donated 500 BTC to that faucet. Accordingly, Gavin gave away almost 20,000 BTC through that faucet, although I think that amount already included donations from supporters. |
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While I don't think money is everything, money is indeed king, that is, if we talk of power. As unfortunate as it may seem, money can actually buy you almost everything. That is true to the level of individuals, organizations, countries.
Political power only follows money. So from local politics up to the national and international politics, economic power is the king. With economic power comes political power. While that may not be absolute, it is easily observed around to be the case.
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That's probably the best way to do it. If you are doing bounty and are actually paid with their own tokens, you don't keep those tokens for long. It's certainly wrong to be greedy and loyal and hopeful on those bounty tokens. While they have a little possibility to grow big, majority of them will just simply wither and die. So as soon as they get admitted on exchanges and gain value, decide to sell them, for Bitcoin ideally. But if you wish to trade with other altcoins, choose the most solid of them all.
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You're probably wrong. If there is a hike in interest rate, instead of having more capital, the opposite is probably true. Credit has a vital role in the business sector. Raising the interest rate means companies are discouraged to borrow money because the interest is high. As a result, finances are limited. Therefore, purchases and spending and investments are curbed. In other words, economic activities slow down. While it results in the prices of goods and services falling down, it could also mean businesses are not anymore facing a huge demand. Cutting of jobs might, therefore, ensue. That's why it is recommended to reduce spending and save money during these times.
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