Investing from a point of view of poor people is very different from investing as a middle class person who can afford to buy dips and HODL no matter what, and not getting their lives ruined in the very unlikely case of Bitcoin going to zero. And unfortunately poor people want to see quick and big returns the most, so they are being preyed upon by various scammers who make stuff like NFT, ICO, shitcoins, trading signals, etc.

This land NFT is extremely risky if it's not recognized by government, and I doubt that any government would want to allow anonymous decentralized market for its land. Plus there are lots of problems with hacking/lost private keys, so tying land to NFT is really not the brightest idea - lots of downsides and no upsides.

Some people can make a wrong impression that you can invest a few thousand dollars into BTC, wait a few years and become a millionaire while doing nothing. Bitcoin is not guaranteed to repeat its past performance, in fact it's very likely that its growth rate will only be slowing down, as Bitcoin is losing its novelty factor. Bitcoin is not a guaranteed profit-generating machine, it's just a "very good chance of getting profit".

So, invest in Bitcoin, but also think about other ways of getting income, especially stable and long-term.

I think it sounds like some DeFi propaganda. But few people are going to pay $100 in gas fees to trade some crypto, regardless if they are long-term investors or daytraders, plus there's no way to use fiat money with DeFi, and stablecoins don't count, because people want to get money in their bank account in the end. So DeFi can't be a serious competitor for centralized exchanges.

The real reason why people here can get so emotional is not because they are new to Bitcoin, but because they are new to trading in general, and being exposed to such extremely volatile market from the start can be very stressful.

Fear and Greed index is just an indicator, it doesn't predict where Bitcoin is going in the long run or even what's going to happen in the short term. It seems logical that after "fear" comes "greed", but no one knows exactly how long the "fear" will last.

If Bitcoin's value was mainly based on its use as a medium of exchange, it would still cost $100, because Bitcoin is extremely unpopular payment method. Even if you take all the daily transactions and imagine that they are all payments and not transfers to/from exchanges, that would still be a tiny drop compared to centralized services.

Bitcoin's value is growing because it's an asset that shown tremendous growth in the past, and it keeps growing because new buyers keep coming. The fundamentals are ensuring that Bitcoin is worth something, but they don't really tell you even any good approximation of how much Bitcoin should cost. Bitcoin's value is a result of people believing that it has high value - hodlers not selling, and buyers buying even if the price is ten times higher than it was a few years ago.

It's okay to leave funds if you understand the risk and get some benefit from it. For example, in the past you could invest in bankroll of certain casinos and earn a portion of their profits.


Paper wallets that generate one address and its key are not good when compared to mnemonic seeds that allow you to use countless addresses.


This is a recipe for disaster, if you are creating your own secret phrase instead of using cryptographically secure RNG, you will have a high chance of getting hacked.


Why 50/50? And what about illiquid assets? Very random "advice".


Altcoins are scams and garbage, why inevitably lose money in long term?


You can't live in society and never trust anyone.

Creating a city out of nothing is extremely expensive and hard and also inefficient. If this project was about taking an existing city and "upgrading it", it would have been more believable, but still it would probably just be another ICO/token scam. Instead of thinking how it can help their economy, I'd rather worry if it won't cause any damage when it collapses.

Strange how Satoshi described Bitcoin as "peer-to-peer electronic cash", but in the post mentioned in OP called it a commodity.


Who said that coins are supposed to be frequently moved instead of sitting there for years? There's nothing in Bitcoin's protocol that could incentivize that. The only reason to move coins to new address is if there's a protocol upgrade featuring new address format, which doesn't happen often.

You can't attach LN sats to an address if an address doesn't have an open channel. And intoducing people to Bitcoin through NFT is like introducing people to physics with flat Earth theory.


If this would happen on a truly large scale, like covering 60-80% of the population, then it would probably cause a small temporary downside movement, because it would be a negative event - someone sending people empty wallets, hoping that they would use them and steal their coins/

Probably my biggest mistake was ignoring crypto in 2013 when I very briefly got interested in Dogecoin and tried mining it on my GPU. If I started accumulating in those days, I would have been much more richer now. But it's hard to take a lesson from it, because if you're on this forum, you probably not going to lose interest in crypto anytime soon. But in case you do, let it be a reminder that Bitcoin very likely  has a lot of growth ahead of it.

That's my point, I would rather trust centralized institutions than coders who make those crosschain protocols and other smart contracts that are so prone to hacking and "hacking". But since nothing stops me from owning Bitcoin in my own wallet, I will keep doing just that, and almost everyone else should too.

We are still incredibly far from Bitcoin being a popular store of value among the general population. Even gold is almost never used for that purpose. People who live in countries with weak national currencies, which is majority of the world, prefer to storing at least some of their savings in the US dollar and Bitcoin is viewed by them as simply too risky.

And Bitcoin investment isn't an income source? Also, not everyone is young and unemployed, I'm pretty sure a lot of beginners on this forum actually have some sort of career and are looking at Bitcoin to increase their wealth.

And I wouldn't say that it's impossible to get rich with Bitcoin. It is not 100% guaranteed and it is even risky, but it can happen. If this wasn't the case, no one would HODL it. I agree that you shouldn't plan your life on the idea that Bitcoin will go to the moon while you sit back and relax.

If I couldn't own my coins on Bitcoin blockchain, I would rather put them into some centralized service like PayPal or a bank than some shitcoin blockchain that could implode in the next few years or suffer a major hacking incident (remember the DAO?) or 51% like mentioned in the OP. At least with centralized custodians there will be someone who can be brought to answer if something bad happens.

If your brainwallet was generated with strong random number generator and has enough entropy, then it is theoretically secure. If you just took a bunch of words and hashed them to use the hash as private key - that's not secure.

But another big problem with brainwallets is how unreliable our memory is. It's not hard to memorize a 12 word seed or even a 24 word seed, but it's hard to retain it in memory for a really long period of time, like years. You can be fine as long as you repeat it daily, but eventually you will start forgetting to repeat the seed, and before you now, weeks or months have passed since the last repeat, and now you have forgotten it. Using your memory can be viewed as a very unreliable and low priority backup, something that you do just to be a tiny bit more safe after you already have multiple backups.

Permabulls will always say that right now is the best time to buy. When Bitcoin dropped to $55k and $50k, they were saying that it's just a dip and you should buy it asap before the bull run resumes. IMO it's a bit irresponsible to always tell people to buy the dip, because some people might have already invested more than they can afford to lose, and such posts could induce FOMO and make them take even bigger risks. Not everyone who invests in Bitcoin is a middle-class or rich person with lots of disposable income for saving.

Why he says 2 countries? Why not 1 or 3 or 14? Does he know exactly which countries will adopt Bitcoin if he has the exact number? I personally don't think that it's a sure thing that we'll see more Bitcoin adoption as legal tender this year, because all those rumors about the next countries to do so were completely unfounded.

Dollar has exchange rate between it and other currencies. Also dollar's value is changing, and economists use various methods to calculate this change. There is not a single thing in this world that has a fixed value, because value in market economy is subjective and unstable. Just because people like to measure everything in dollars, doesn't mean that dollar is vastly different from other currencies. So if Bitcoin replaced the US dollar, it would still have a price in US dollar and other fiat currencies.

IMO this is all very short-term and irrelevant in the grand scheme of things, but a precedent of a country shutting down Internet is much more interesting. This just shows that currently, until there's resilient decentralized Internet technology, Bitcoin can't be considered a silver bullet for financial freedom at times of tyranny. What would a person who went 100% on Bitcoin do right now in Kazakhstan, when they can't even convert it to fiat? And banks have stopped working there too, so only good old paper money change hands there.