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How popular is this scam tracker from California that the enormous decline in cryptocurrency scam revenue in 2022 is significantly attributed to it? I'm actually doubting its contribution.
If we look back in the year 2022, the largest failures include Terra, Three Arrows Capital, FTX, Alameda, Voyager, Celsius, BlockFi and others. I'm sure not one of these companies or projects or platforms made it to the list. I only saw one that is impersonating FTX, but if somebody would have taken a closer look at FTX itself, it could have also been considered a scam with all its red flags. The same is true with the rest of them. Of course, these companies may not look like outright scams, but these are also the same companies which investors would easily fall to and lose their money.
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It's not as if they intentionally do it. To a certain extent, they're victims of their own vice. They must have gone too far down the rabbit hole. But the blame is still largely on them. They are the ones who allowed themselves to drift away into the ocean of addiction.
I guess these gamblers the ones who were tolerant early on. They failed to practice self-discipline. Little by little they're consumed by gambling. Their gambling urge grew stronger and stronger until they cannot control it anymore.
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~snip~
Yeah most likely I'll probably lose some money but at the end of the day I own bitcoin. Plus I'm going for a long-term investment, not a short-term one. Investment is not always uphill. Diamond hands hahaha  I tried to get my sister to get in on btc but she said she doesn't like the "stress" L sister  You're not really losing. Paper loss is not a loss in the sense that your Bitcoin is intact and that it's only the price that has decreased. And it's normal for a highly unpredictable and volatile asset like Bitcoin. Well, it's strictly an unrealized loss, but that doesn't mean anything unless you will sell your Bitcoin. The only thing that would make you lose is if you sell at a loss. So if there will come a time when you want to sell, do it with a realized gain not loss. To be honest, if you're new it could indeed be stressful. If the price value of your Bitcoin portfolio has fallen 70%, you could possibly get stressed. But that's the tendency only if you focus on its short-term to medium-term price fluctuations. If you zoom out the entire Bitcoin chart, you will see how things will eventually get better in the end. The last laugh always belongs to the one who's got the diamond hands. |
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~snip~
Yes, that is a good idea. I reached the conclusion I'm going to sell interested people bitcoins myself. Minimum withdrawal from Stake is 20,000 satoshis and there is a fee of 7000 satoshis. For larger transactions that fee is fine, but if they want to acquire a small amount, I can also make the transaction from freebitco.in platform, paying only 520 satoshis on fees (slow withdrawal). The point now is the receiver wallet... I know people in real life who invest in BTC and use only Binance to store their coins, so it's indeed the first option for the layman due to the accessibility, and they don't seem interested in self-custody. Moreover, it's out of my control if they prefer accessibility over safety, after all it's responsability of each adopter to take the possible consequences for their decisions. They will decide doing the don'ts or the dos, as they wish. My advice is that a hardware wallet is purchased, as that is the method I use and think it's pretty simple, while being safe. I also know of some individuals who know about and actually own crypto but don't know about self-custody, about hardware wallet, about Lightning Network, even cheaper fees with SegWit, and so on. What I'm saying is that it might not be about them having the freedom to choose which they prefer. To some, it might simply be about lacking education or awareness. And since you're in a position to educate them, I guess that must be included. At least they're aware of the options and the risks involved when they make a choice. If it's simply a demonstration that you want, you don't have to require them to have a hardware wallet. As you mentioned, the amount is $1-$10. An open source non-custodial wallet is enough. |
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You are doing the right thing, saving little by little in Bitcoin. Doing that with fiat is pointless as your money is only losing value continuously.
Tips? I think you need to learn about hardware wallets. Learn to self-custody what you have. I haven't heard about Stockpile but I doubt it is an open source non-custodial wallet. Also, don't be surprised and lose interest once the market goes through a severe winter. It has discouraged a lot. It has pushed many to panic sell, with a big loss. Learn to develop a diamond hand. It pays off in the end.
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If ever there will be a proposed new logo there should be consensus on the use of a new logo, and the majority should vote for a new logo for Bitcoin, but I don't see this happening now since Bitcoin adoption is encountering a lot of hindrances and issues, maybe in the future there will be a proposed new logo that is more futuristic and will reflect the status of Bitcoin at that time. Bitcoin isn't like a private brand or company. You can create your own logo if you wish. There is actually no policy or rule that strictly specifies a certain Bitcoin logo. As a matter of fact, the sort of de facto Bitcoin logo made by bitboy has probably a number of variations already. Some use only the white BTC character without the orange circle. Some use the one made by bitboy but with the BTC not slanting. Some just use the orange slanting BTC. There are no rules here. To whom should anybody propose? Who should vote? How is it done? Who will run the voting? What is a consensus or how should it be achieved? What is a futuristic Bitcoin logo? |
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I will talk about the risks and also mention the possibility of storing in self-custody offline mode, but the idea is that they invest small sums of money to experiment how it works. Something between 1$-10$, so I guess it's not big risk just to start... If they enjoy the experience, they should adopt extra safety measures for larger invested funds. I find it a little ironic that you will talk about what's risky and what's not, and you will let them do the risky thing and not the safe one. It's like teaching them the fundamental dos and don'ts and you will let them do the don'ts and not the dos. That doesn't seem right. I understand that the amount is minimal. It's probably for the sake of simply showing them how it works, for the sake of the experience. But central to teaching newbies about Bitcoin is to create a wallet. And I mean a wallet, not an account in whatever centralized platforms. Omitting this very important learning step makes everything incomplete. I've noticed that you're wearing Stake signature. Why don't you make use of your Stake account for this. I believe the minimum withdrawal is $10 and it doesn't charge a fee. Am I right? Or why don't you send them the coins from your own wallet, one which allows you to use the lowest fee possible? That would be more interesting I guess. Or if somebody is willing to spend a little more than $10, let him/her learn how to make a transaction from a non-custodial open source wallet and send Sats to a fellow learner? I mean, there must be other ways. |
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55- Darker45
Please and thank you, cygan!
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What I agree with in the first place is that China is smart, and in a good way cunning. But China has its own problems that I wrote about. They are now - economic, and are ready to change into socio-economic ones in the future, with a massive increase in public discontent. But it must be taken into account that modern China is not the China of the middle of the 20th century, when the remnants of feudalism still remained in the mentality. now the Chinese people are more free, and they can start a real rebellion. And this is equal to the death of power. Well, plus a guaranteed deterioration in the economy due to cutting off Chinese industry from Western technologies. And this already removes China's existing advantages in the world market, where China supplies a huge amount of products with a low price and acceptable quality. After the departure of technology, the degradation of the economy will begin. Namely, Taiwan will allow to "solve" a lot of problems: - possession of almost monopoly production of critical products in the world market - problem solving with technology - "a small victorious war against the imperialists" - will increase the rating of the CCP. But China does not rush to thoughtlessly start a war, it has chosen "guinea pigs" in the form of Russia, and is watching ... I hope that even so the Chinese leadership will be wiser than Putin's sadistic fanatic. For China, the path of a peaceful alliance with Taiwan and mutually beneficial symbiosis with the West is the path to survival. Indeed, China has its problems. But that's also true to the US and the rest of the world's most powerful countries. The difference with China, however, is that they have a more controlled politics and populace. Also, I don't see the Chinese people as truly free. Well, many of them now have the money, could travel the world, immerse in different cultures, and so on, but what I usually notice even among these sophisticated and cosmopolitan Chinese is that they're still robot-like. It seems they all have chips in their brain. China is largely watching but they're also extending significant help to their guinea pig. They definitely want this guinea pig to be successful. But they probably didn't share its poor decision-making and strategies and rush approach. While they want it to be victorious, they're probably open for its failure as they recognize its recklessness. |
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~snip~ Through limiting their user account, it could also mean limiting their bets and I think this is not new anymore as casinos also set the maximum prize that they can only refund to their bettors. So if a single user has different accounts and all those are winning one after the other, that could really be a problem on part of the casinos. So casinos have to do their part too by looking the patterns on how they bet, aside from monitoring their email add and locate their IP address. That way, it’s possible that those users who have made various accounts will easily be tracked. On the contrary, casinos would be happy if gamblers are betting heavily. That's what they want. As a matter of fact, they are spending significant amounts of money for promotion and marketing. That's to attract bettors. That's to attract bets. High rollers are even invited to become VIP members. But I've read allegations that after a number of wins, big wins, platforms are reducing a user's maximum limit. I guess platforms have been doing that. In terms of accounts, casinos have specific rules about it. Many only allow a single account. There are also platforms which allow more than one but still limited. Some allow sub-accounts under a single main account. |
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It's not as if Bitcoin is closed source. It is not as if Bitcoin is partially open source. Everything with Bitcoin is an open book. Anybody who doubts or wishes to review and check the codes line by line to make sure nothing suspicious is added may do so. And the codes have certainly been put under careful scrutiny by many developers.
Even if Satoshi added certain shady codes at the start, they wouldn't have survived. Anybody could have removed it right away.
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~snip~
This is one of the reasons why the West, led by the United States, is helping Ukraine in countering the terrorist attack from Russia. China is using Russia as guinea pigs. He looks at how the West will react to the annexation of foreign territories, looks at how the West will react to a terrorist attack, how the world will resist this evil. Why ? Because China planned to play exactly the same scenario with respect to Taiwan - a fake reason to "unite one people", "historical Chinese lands", "saving the Chinese population from the clutches of the wild west", "saving historical values and way of life". China was well aware of Russia's plans for 2022. And so China chose the passive side for a reason. China wanted to observe the development of the situation on the "guinea pig" in the form of Russia, without unnecessary risks, in order to understand how acceptable such a path would be for China. Apparently, the Kremlin agreed on this issue with the "big brother". But as always, he deceived, having built his plans, describing himself on his fake greatness and the fake power of his army. The result for China was not very positive - the whole adequate world united against Russia and began to help Ukraine. For China, this is a bad "bell". Now China needs to invent another way, because. a full-fledged confrontation with the West will lead to very negative consequences for China itself, in the event of the same stupid, direct aggression against Taiwan. I agree, although I don't think China needed to invent another way. China's approach has always been multi-pronged. While they are sending warships in contested territories, directly harrassing another country's navies, conducting war exercises near borders, and others, they also employ other strategies. They strongly support opposition parties. They offer abundant loans and grants and aids. They also have rich investors ready to pour billions in foreign ventures. They also reach out offering cooperation, shared explorations, and other partnership deals. This bully knows better; they know direct annexation through arms isn't the only way. |
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It seems SBF is not alone in trying to bring back FTX. After all, he seems to be treated more as a baby than a criminal. It seems like powerful personalities are trying to assemble back FTX for him. Well, without necessarily bringing back the customers whole again. He should be incarcerated right now. Instead, he's probably Netflixing and browsing the net.
Anyway, Binance was also involved in a hacking incident, a KYC leak, kicked out from certain countries, even investigated for possible criminal violations, and others and yet it remains to be the top exchange today. So I would not be surprised if a relaunched FTX would also rise to glory once more. We never learn our lessons.
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Actually, you can find a lot of eateries, locally named carinderia, here in my country where you can have a meal as cheap as $0.57. That meal comprises of a cup of rice and a simple viand, vegetable dishes usually or different kinds of noodles. They could come with tiny slices of meat also. In many carinderias, soup is also served for free.
So, you can also live here with just $35 a month for food and the meals are nutritious enough, although in relatively small servings. But could you endure those kinds of meal everyday?
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With or without crisis, the problems with saving money in the banks are numerous. Whether crises are natural or political or economic or whatever, money in the banks could be locked indefinitely. In many parts of the world, withdrawals from ATMs and banks have maximum limits. In some, that limit is extremely low. Sometimes, withdrawals are not even allowed. We have seen scenes in Lebanon and even in China where extreme actions were committed by account owners just to get access to their own money.
Bitcoin fixes this.
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<snip>
I'm kind of intrigued. Who is this neighbors of yours that is a pro DOTA 2 player? Solo was also accused of match fixing as he placed a bet against his own team, Virtus Pro. Remember the 322 meme? It was originally pertaining to his act. I won't drop any name, but suffice it to say that he's a player of Team Smart Omega or popularly known as Omega ESports. They were playing against Execration in the SEA DOTA Pro Circuit (DPC) 2021-2022. It was suspected that Omega ESports was throwing the game. Later on, after investigation, it was confirmed that they were involved in a match-fixing agreement. It was pretty obvious in the game. They were eventually banned from all Valve-sponsored events. This is off-topic already, but the point is fraud in sports happen not just in the local, regional, and national levels; it happens even in the international level. |
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Yeah, it's simply because of the lack of awareness. I guess there's nothing wrong with their choice because the two young ladies don't know a thing about Bitcoin. If I haven't heard of Bitcoin yet and I were also given the same choices, I would have also chosen $100. Why they're not aware of it especially at this time, I don't know, but it's not surprising either; it's not as if Bitcoin is already that popular. What percent of young adults all over the world have actually heard of Bitcoin? To those who have encountered Bitcoin already, how many of them actually know what Bitcoin is?
Perhaps what was surprising in those two youngsters, which could be representative for the rest of us, is that rather than asking what was that other option is, they just went ahead and chose $100. They could have asked a couple of questions like, "what is Bitcoin, by the way?" or "how much is that 1 Bitcoin worth in USD?" or "is that Bitcoin thing worth anything at all?"
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It is completely understandable for Blender.io to rebrand and relaunch under a new name Sinbad.io. There's nothing surprising with that; they want to get around sanctions. What's ironic is that they are into a business of erasing tracks, of wiping out traces and links which could lead to any user's identity, of privacy in other words, but they somehow failed to do that themselves. That Sinbad.io is the old Blender.io may or may not be true at all, but with all the coincidences mentioned by LeGaulois it seems they failed to clean their own tracks.
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The truth is that if you intend to get into altcoin projects, into hype like DeFi tokens and NFTs and AI tokens and otherwise, you can't avoid the risk of getting into scam projects.
What will somebody look for in doing his/her own research? The whitepaper, reviews, testimonies, articles? They all can't provide a guarantee. Does it mean that since a token or coin is listed on CMC or Coingecko it is already legit? Nope. Does it mean that since a project doesn't offer 100x ROI quickly, it is legit? Nope. Does a listing on Binance a guarantee that it will succeed? Not, either.
You want to truly avoid scam projects? Avoid projects.
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I don't see it coming, not in 2025, not in the next decade or two. But the situation in Ukraine will probably give us an idea. If Ukraine succumbed to the Russian invasion, it will surely be a cue for China to invade Taiwan. If the US and Europe and their allies failed to stop Russia from annexing Ukraine, the more they can't stop a more powerful country from annexing a tiny island nation.
So, in a way, the fate of US-China-Taiwan conflict will be determined by the fate of Ukraine's battle for survival against a weaker bully. China, the stronger bully, is just observing. The US, which is now facing financial troubles within, and its allies will have to give as much as possible for Ukraine to come out victorious. Otherwise, another bully will be joining in causing much bigger problems.
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