Leaving BTC funds in centralised exchanges makes a lot of sense for day-traders since BTC withdrawal fees are usually very high leading to investors trying their best to avoid paying fees in this manner.
However, if you aren't a day-trader, it's best to relocate the funds to reliable wallets in order to avoid any major issues in the short-term and the long-term.
Yeah for the small amount that day traders need, that wouldn't sound out of place but we are mostly concerned now about investors' information done thru KYC that has been made public, meaning anyone that knows you know what you hold in crypto assets, that is dangerous and put those people at risk. I too have done some KYC with some CEX but just definitely had a rethink going forward plus it has always been clear that keeping more than an amount of your Bitcoin or other cryptos in an exchange wallet is a no-no. |
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It's because if people are having troubles paying for their daily needs, the last thing they'd want to do is to speculate in volatile cryptocurrencies. Bitcoin being very dominant in a inflationary environment will likely happen in my opinion, but most probably not right now.
I have not invested in any crypto yet, because I believe(d) that banks and governments will simply not allow transactions from crypto to fiat when crypto gets too big. This can not be the case for every country, you made an example of the US president Nixon back in '71 and that was Gold and not crypto, there is a risk regardless of which investment but I doubt if that was the same for other locations and let's not forget that there are Governments that have actually embraced Bitcoin as it is now and in locations where this type of situation is already happening, crypto investors have always found a way out like P2P but this is not to say we shouldn't look at other forms of Investing. |
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It still feels sad to me considering I joined early. I couldn't become very very rich even though I made some money through Bitcoin. 2009 feels like dark ages to me now. I was like trying to enter university or something? Now I am white collar officer. Good old days. I wish we all knew Bitcoin back in 2009/2010 and buy many and hold them in some paper wallet to restore right now in 2022 and become rich.
Everyone has the same thought on this and I'm sure everyone also wished they could own bitcoins in their early days. But it was just a fantasy that will not be repeated today. From there it shouldn't do the same thing. I mean maybe today bitcoin looks so expensive for us to own, but let's think in the next 10 years, maybe this narrative will sound back "if 10 years ago I bought bitcoin at 20k". This is very likely to happen. Absolutely, I hear someone saying that Bitcoin is already expensive but yes of course it's never too late to buy bitcoin, even though bitcoin is now expensive, but I'm sure in the future the price of bitcoin will be even higher.
but also believe that in the future the price will be higher but some of us still won't buy in, even in sats but we all know this narrative will repeat itself in another 13 years from now when some will say this same thing, I knew when Bitcoin was as LOW as $20k, I could have bought some satoshis then even if I couldn't buy a whole BTC It will always be a revolving circle. |
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I don't know anything about the financial situation in Mexico, but I don't believe that Mexico isn't a worst financial condition than El Salvador or Venezuela. I also don't think that the Mexicans are so desperate that they would embrace Bitcoin/altcoins right away.
What people forget is that adopting bitcoin as legal tender doesn't mean people are going to embrace bitcoin or for their economy to improve right away. It's all about building the ground work and the infrastructure needed for an easier adoption over the long term. You can't expect a revolution overnight. Absolutely, it is going to be a work in progress for btc adoption and usage, because as it is now, people are more interested in th speculative aspect than payment aspect. Although it is not unachievable, it will really take some time, the important thing is the adoption and acceptance legally, once this is achieved, rest will happen gradually. Right, this is why I keep wondering, must every country term Bitcoin a Legal tender before we can see it as being adopted by the country? I think because of local politics in every place, once proposed by a member of a different party might be fought against by others in the next party however, I think if it is not a case of Ban or prohibition as was previously stated by the Mexico's Finance Minister back in 2021, then whether it has been adopted as a legal tender of just allowed to be traded and exchanged in the country would be great as well. |
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Does anyone use a bank safe service to leave your trezor or whatever you use in there? I have been considering which would be the ways in which one could leave physical backups somewhere else than your own home. If you don't trust anyone to do a good job in keeping the device safe, the only way I see is that you either own 2 homes, which I don't, or that you hire a service in a bank where you can leave the stuff in there. Im assuming there's good security, and no one could realistically get in there, at least in any developed country. The only way would be that an employee is dumb enough to attempt a heist from inside but that's also unlikely.
Could you explain your experience doing this and what to considering when hiring such a service?
"If you don't hold it, you don't own it." "Not your keys, not your coins." If you are going to trust a third party with your money then it doesn't make sense to keep it in crypto. Banks not as secure as people think. They may look like they are secure but there is a big flaw which people fail to see. Banks will always do what they are told by the government. If the government comes up with a law to seize the money of everybody, the bank will have to comply. If you hold your own keys and your house goes on a fire/flood you no longer hold them, thus you need to have backups elsewhere, thus you have to trust someone, whether family, friends, or a bank, and a bank is probably safer when it comes to keeping things safe. Alternative is to buy a secondary house but that is not an option for me. Also a house that is not occupied can become occupied by third parties. Although extremely ironic, this is indeed a sound option if you doubt your capabilities to self-custody. I actually remember no less than the popular Bitcoin preacher, Andreas Antonopoulos, admitting that one of his backups is safely stored in a bank safe. To me, this is indeed an option. After all, robbing a bank is much harder to do than robbing a house without a single security staff.
But forget about owning a couple of houses just so that you could safely keep your backup in another house. Each house is as vulnerable. So that's ridiculous. Not to mention the cost of building that other house. That's more absurd than keeping your wealth in Bitcoin but storing the private keys in a bank's safe.
Well like I said above, it's not about not feeling confident with your abilities to self-custody, at the end of the day, you need several backups, or at least an additional backup that's physically separated from you otherwise if your backups are all under the same roof it's less safe than having an encrypted copy in a bank vault. I believe at the end of the day, all investors are responsible for what they invest and how they think is best for them to safeguard their private keys and passcodes. I have read before in this forum about the suggestion of a military-grade nuclear vault for saving such info. People can save their info wherever they see fit but I believe we all agree that multiple locations are the top priority. |
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maybe if i know bitcoin since 13 years ago maybe i will take my savings in the bank to buy more because i believe the technology in bitcoin will grow rapidly and will be valuable, unfortunately i was introduced by my friend in bitcoin in 2016 ago and I joined this forum to get to know more about bitcoin and other cryptocurrencies, at least I'm not late and hold a little bitcoin in my wallet as a future asset, whoever bought bitcoin in 2009 and then he is the luckiest person and mr satoshi has more much of what we know, over the past 13 years bitcoin has really progressed well
That would be easy for you to say today because you have seen what Bitcoin has become but I guarantee you that 90% of the people that are involved in Bitcoin today wouldn't have given it more attention then as we do now. This is 2009 we are talking about. Take time to read through this post: 12 years ago, we have the story of Laszlo Hanyecz, who traded his bitcoins for pizza in 2010. 10,000 bitcoins actually for two Papa John's pizzas. Also in 2011, there was the story of Shiksay “Sziky” Miklos who took 5th place in participating in the AoV iCCup StarLeague tournament and received 25 bitcoins. Then they were valued at $ 41 but decided to collect $40 instead of the 25BTCSo, as Laszlo said "It wasn't like bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool" This is why I believed that for most of us, even if we had known about Bitcoin back then, we might not have taken it that seriously because even the first time I was introduced to Bitcoin, I just bought it to pay for a service online but not really paying attention to what Bitcoin could become until a year later before I started investing properly in Bitcoin and this was 2016 when BTC was already above $400. |
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I had several questions but can only remember one at the moment. When the government issues CBDC’s, how would you purchase BTC privately being that the CBDC’s will let them survail every transaction if they wish. Seems like a silly question being they can do the same through your bank but……
I believe that we should stop giving this thing called CBDC a pro by even talking about it like it will make much different than what is already obtainable in the traditional banking system. Even in locations like mine where the government of the day has stopped banking transactions directly from banks crypto traders have been buying through P2P and the same will be even if they (the government) were able to make everyone transact with the CBDC which is really don't seems to be patronized even in some countries that have launched it already. |
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I saw some people saying that long term holders are dumb because they keep holding on the losses and this is a stupid meme. But i don't agree with that, since we believe btc will grow even more. What do you think?
In my opinion that Both short term and long term have their own advantages and disadvantages. With long term, you may get bigger reward without taking much hassle. On the other hand, with short term, you have to follow a lot of things.
Long term investments are sometimes risky in case of cryptocurrency space, you know a lot of altcoin have disappear and it's possible that your holding will not be existed someday. On the other hand, short term investors can move anywhere since they are updated with the market.
I personally prefer long term holding but of course only the top ranked coin.
What you are talking about in terms of the risk of losing your crypto assets in long-term investment is actually true for Alts but that does not relate to Bitcoin investment. In fact, your best option with Bitcoin INVESTMENT is of LONGTERM and anything short of this is trading. investing in Bitcoin, especially in times like this, the bear market, and hodlin till the next ATH before taking profits in part or whole Investment is my strategy and not daily or short-term trading. |
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Don't forget to continue liking bitcoin when things that make you feel that bitcoin doesnt like you occur - the price plunge, regular hacking activities, exchanges going bankrupt, people claiming to be Satoshi etc. They are many bad features linked to bitcoin but, its not meant to stop anybody from continues usage of bitcoin, I'll urge you to keep up with the things that make you happy about bitcoin despite the numerous negative news appearing on news platforms just to detriment the good aspect of bitcoin. As for me I like bitcoin because they is no third party that is in control of daily transactions.
I believe that people that do not understand why they started investing in Bitcoin other than just for the profits would likely be those that can easily be deterred by all those negative occurrences in the Bitcoin space. The only supposedly downturn to Bitcoin most complain about is price volatility (Bear market), but those that understand the good to that aspect know not to worry but take advantage of it, and other than this, Bitcoin for me has been the better investment than any other in the past decade. |
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The use of energy that could have gone to waste has been discussed for a long time now...and it is good to see it is now being picked up by companies doing business in the oil generation industry. Soon, we might be hearing the dictator and evil Putin ordering that wasted gas within his country be used for Bitcoin mining. The idea is actually good as we are talking here of energy that will surely be released to the environment...though of course am not sure how rigid environmentalists can be viewing this whole thing but for me this is definitely a lot better. Hope more and more can looking at this plausible idea.
I believe it has always been about the Government of the day in each country. How come people out here can see all the possible ways to use the extra energy that goes to the waist and those governments can't? As buwaytress mentioned here: Weird/Nice that it's a "novel" way when this forum alone's actually been the source of so much related suggestions (think I've posted at least twice as well even on commerce-level natural gas generators) -- my state's been flaring so much over past 3 decades and am sure it's the same in most oil producing country like Argentina.
Piping isn't ready or in plans in most of SEA too.
It's all going to waste as it is.
My country has been flaring Gas for that long too but only if these countries had a government that could see how that energy could have been channeled to Mining BTC for the betterment of their economy but maybe, they are just transfixed to the sector they already know and don't want to explore the new option of generating Income. I hope this event coming out of Argentina will be a good example for other governments to follow in regard to gas flaring. |
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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....... No need to expect, just once bitcoin price goes up again and hits new ATH in 2024 the things you mentioned will increase automatically, there will be more bitcoin adoption in companies, countries, users...I can tell you that things will grow exponentially and one thing that never goes away with those good things, which we often hear about is the bitcoin bubble about to burst, run now.  I agree with you in regards to the effect of Bitcoin prices having a great effect on continued adoption by many even into the future. I mentioned the same in this post, https://bitcointalk.org/index.php?topic=5415929.msg61066267#msg61066267 yesterday and I believe like you, once the market reverses everyone including the doom preachers of Bitcoin will jump back into the circle including new users that will FOMO in too. |
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I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar. The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.
And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue Read hereDo you think with the level of civilization in the united states, that the digital dollar will be successful? Regardless of which nomenclature is now used by the US government, this is no different from the same CBDC we have seen some other countries delving into and has nothing to do with Bitcoin and I also believe has no effect whatsoever on BTC. Is this digital fiat going to be having different inflation effect from its normal fiat currency? or maybe because it is tagged digital? I don't see any difference from the digital services the Banks already provide that any digital currency (CBDC) will change to make it more important to have any edvrse effect on Bitcoin. |
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It is unfair that bitcoin being a different digital money system something more egalitarian, at least not unlimited like fiat, has become so inaccessible to the people who really need it. I feel that having 1 million satoshis in a few thousand years will make you a millionaire and a more equal and free person. But what sense does it make to buy with your fiat money as many bitcoin as possible to become a millionaire and then sell it for more fiat money? I think this will make bitcoin more expensive for people who really want the currency, not to exchange it for more fiat money or other crypto, but because we know that keeping bitcoin will be fighting for a less corrupt world and those who don't have it can have something. I look forward to reach that peak of $3300 to also have the right to be part of this.    I am really trying to wrap my head around everything you are saying. I feel that having 1 million satoshis in a few thousand years will make you a millionaire and a more equal and free person. in a few thousand years? who is living for a few thousand years  and nothing in the world is fair really, you have to work for it. If Bitcoin did not reach the monetary value it is today, meaning all its ATHs, people wouldn't pay attention, I will always reference this story were a gamer rejected 25 bitcoins to collect $ 41 which those BTCs were worth then because he didn't see any value in collecting 25 BTC over $41 but I know for a fact that the story would be different only if he knew what BTC would turn into. However, don't wait for Bitcoin to wait to reach $3300 again before you invest if you really like to own some Satoshis. |
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I was reading some of the replies in of @mr_jk's thread when he asked what will happen if bitcoin's price became stable?
The replies were unexpected hehehe. Much of them argued why or how can bitcoin be stable? This makes me ask the question do much of the holders of bitcoin want the price to be stable or do they really want it be volatile? I ask this because stability makes bitcoin become a good store of value and medium of exchange. Volatility makes it good for trading and speculation.
I believe we have to look at what has made Bitcoin gather the attention it got over the few years of its existence. If the price of Bitcoin was stable all along, would it have had this much attention and adoption that it has today? I wouldn't call myself an expert but my answer would be NO. I however get your point but even now, don't we see investors saying Bitcoin is a Store of Value? maybe someday we will get to a point when the price of Bitcoin will start to stabilize or be less volatile but as far as I am concerned, Investment is all about profit making, and when that is lost, it is no longer an Investment but just savings. |
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Why you have to save your private key in bank vault. You trust a third party to keep your private key safely. Even you can trust them and their service is good, the service cost should be expensive.
You can take care of your private keys safely only by yourself. Think of reason why you keep your private key in bank vault? It is for recovery later, what you save is only a backup.
And you will have your private key in hands, on your devices to spend your coin. You can not go to bank everytime you need to make any transaction. It is time wasting and unnecessary.
If you use bank vault service, it should be for a wallet with big fund. For a wallet that you store small fund for regularly use and transactions, you should save its key by yourself.
Even if you have a hardware wallet with big funds (cryptos) in it, I want to believe as I might have mentioned before, only if you tell anyone how much worth of crypto you are hodling, then you are bringing attention to yourself. I also agree with Strongkored here: Why should you secure your decentralized assets with centralized services?
I think using a safety box and keeping it hidden at home is enough in my opinion, especially if you don't have a large enough asset because storing it in a bank also costs money and moreover you can't access it during an emergency.
If you have a very large amount of assets, I think you can get a fireproof safe that can be hidden in your home where it is quicker to access instead of the bank, and with that kind of fund, bank payment wouldn't naturally be an option but quick accessibility, in this case, is also key for me. |
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Hello bitcointalkers, I was wondering that When Bitcoin Evolved almost in 2009 when it was in cents and still it is only 13 years old, not even even adult if we compare it to the Human life etc. I know it sounds funny.
Also if we compare this to the Stock market, If I am gone wrong that might be at least 400 to 500 years old and still Woprd economy is around us..
So my point was that Bitcoin is evolving day by day with many bull and bear seasons, I want to say that Bitcoin first Bull market was almost in 2013 when it touched only 100 dollars and that was just big milestone and now Bitcoin is trading per second in only 100 dollars and that is just timing things.
So I am going to my main point and that is Bitcoin hit almost 70k dollars and that was just big and bigger milestone and currently it is just trading above 18k dollars. And in my opinion that is currently going in Bear Market. And that bear market will turn till Next halving and that might be in 2024 as per block data. So I was wondering that wether this bear market will be helpful for new people or not. Cause many people thoughts are different than old people in crypto. So I am preparing myself in Bear market so that I might be able to stand in next bull run that might be the biggest bull run for Bitcoin and that might be just all time high to almost 200k dollars as compared to 2021 Data.
I am writing this article so that big bitcointalk members that are since 2015 and have very very god knowledge in cryptocurrency and can advise me and many ohter people that are new.
I want to believe that you have been able to see the market pattern, the Bull and the Bear market and obviously any investor that does not still understand that buying during a bear market is what best will obviously miss out. Both market circles are important, if not for the bear market, investors won't be able to accumulate more and if not for the Bull season, profits won't be as much but the only thing most investors worry about is went to get in even when it s clear that we are in a bear market so DCA comes in as the better investing option here. Just continue to buy most of the lows if there is the capital and you are good. |
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Username:KaliLinux
Current post count:1397
BTC SegWit Address:bc1qt96p7638a67wk6xjcf8t8ze8q5tlgzl69f2j8h
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Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=442362Current amount of Posts (Including this one):1397 BTC address for payouts: bc1qt96p7638a67wk6xjcf8t8ze8q5tlgzl69f2j8h Utopia Public Key for CRP payouts: 8EAD741DC7B0B1FBBD3103E7347C79A0F16580E5F7984A085ACE7B1D83F3AA63 Earned merit in the last 120 days: 30 |
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"We demonstrate Bitcoin consumes 56X less energy than the classical system. When Lightning is compared to Instant Payments, Bitcoin gains exponentially in scalability & efficiency, proving to be up to a million times more energy efficient per transaction."
Such posts should be accompanied by the source link, some forum members like to check the source of the content to ensure its authenticity. That being said, btc has been castigated for high energy consumption and bad to the environment severally for a long time but if some new study is out to counter such claims, it will be good for btc and the entire crypto community but unfortunately, I doubt the btc haters would find this new study any relevant. Right, those bitcoin haters will always say what they want about Bitcoins energy consumption even though this has been proven many times not to be correct when compared to some other sectors' energy consumption of the economy, however, it is still good to continue to put this type of information out there for those dry brains. |
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I personally think things are different now. The general public's view on crypto is kinda negative thanks to influencer shilling and the like. I think we may not see another spike like 72k until something major happens like covid to cause such a thing.
Bitcoin price movement is cyclic and the same could drive the price reach new ATH. Based on the four year cyclical move we're getting closer to the days of marking the new ATH. The cyclical pattern can be calculated from the previous ath that is during the end months of 2021. Based on that calculation we'll get to see a new ath close to the days of upcoming halving. I truly doubt if we are going to see a new ATH before the next Helvin with regards to this Bitcoin Rainbow Price Chart  The ATH of 2013 was in November and that of 2017 was in December so do you really think the market will see that before the next halving plus I don't also see a V shape recovery for the market which could only be the case for this to happen that is without periods of accumulation. |
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