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I see quite often how beginners who did a bit of googling decided that paper wallet is the safest option and plan to create one of those "print out your private key" wallet types from the early days. I completely agree that they are outdated because writing down your seed is better in everything. It doesn't require you to have a trusted printer, because you can write it with pen and paper, it doesn't have a problem with change addresses, it's a bit more resilient to damage, it's much more convenient for sending BTC.
Should hardware wallets be recommended to everyone? Not really, if a person is generally good with using PC, then setting up their own cold storage is a viable alternative.
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In case anyone is wondering how the "crypto revolution in gaming" is working out, Ubisoft's NFT has resulted in whopping $377.57 total trading volume as of recently. That's how interested gamers are in "truly owning their in-game items". |
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because using bitcoin can they easily bypass these sanctions.
It's a bit of a myth that Bitcoin can be used to bypass all sanctions. Sanctions mean that companies of a country that imposed them are prohibited from doing business with the sanctioned country. Using Bitcoin could help hide such actions, but not completely, and there still need to be companies willing to break the law, which not many would actually want to do. Sanctioned countries don't really have a problem of paying to each other, so Bitcoin is not a great help for that. |
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For those of us who have been around in the crypto, we are well aware that everything is great when they as for you cash and most of it goes "ninja smoke bomb" the minute after they get it.
Unfortunately, very few people are actually aware of this. Most people, especially the beginners, think that there are "bad projects" and "good projects", and that they can "do their research" to find the good ones. This is not the case because blockchain technology is so fundamentally limited that it basically almost has no uses in real world. Medical records, supply chains, property rights and so on - all of that doesn't work, it has been tried and it failed. So even if the devs seriously believe in what they are doing, they are still going to fail. |
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Bitcoin is the back up/fall back that we need.
Bitcoin experiences way bigger swings than Lira had, so it's not yet suitable to be an alternative to fiat for broad population. Even if you consider that fiat is devaluating in long term and Bitcoin is appreciating in long term, long term is not everything. Lots of people live from paycheck to paycheck, and for them both Bitcoin's volatility or price instability of fiat can be devastating. Imagine having a serious medical emergency while your savings just dropped in value by 50% a week ago. |
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This is like quitting smoking for a day and then going back to smoking 2 packs every day. I understand the initiative of trying to check the solvency of services, but it's unrealistic that a critical mass of users necessary to achieve this is going to participate. A lot of users probably don't even know about such event, because they don't check the crypto news daily, and out of those who do only a tiny percent would be motivated enough to inconvenience themselves with doing some transactions.
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Lego is a speculative investment, while stocks and bonds can be to a high extent analyzed to predict how they will perform. Dogecoin has also outperformed stocks like Facebook or Apple, but it doesn't make it a good investment. Though I wouldn't say that Lego is a bad investment, it has huge cultural value and should be viewed as a collectible, but you can't just jump into this market without knowing anything about it, that's a sure way to lose money by making bad deals or even getting scammed.
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context... I've seen either usernames with it or in signatures, I searched on this forum and found more hits, there is also a tool called Ninjatrader. I think the post from mk4 is good enough, thanks for your explanations  The word "ninja" means "expert" in programmer slang, so if someone calls themselves or someone else a crypto ninja, it means they are testifying to their expertise in this field. Some users could also have this word as a part of their username because it's simply a cool word. |
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DeFi and blockchain projects have like literally zero percent share among the consumers, they are only used for speculative trading of tokens and shitcoins. It's completely nuts to think that they will overthrow Visa, even them taking 0.001% share of Visa's market is totally unrealistic.
Did this guy invest in some shitcoins and is now trying to pump them?
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They are not "coded into the ethereum blockchain". The media file is still uploaded on either a centralized server, or through IPFS. The only thing that goes into the blockchain(unless you're using something like Arweave) is the digital signature.
So a painting, music, video game NFTs are all uploaded to the server but the blockchain is only there to confirm authenticity of product via digital signature? Not all NFTs come with digital signatures from the creator. NFT at its core is just a unique token, and this technology isn't even new. Like others have mentioned, there are different ways of establishing the link between the token and the thing that it is supposed to represent, and most of the time such link is quite weak. NFTs are not officially recognized by any government, which can often mean that they are practically worthless, because you can't defend your ownership if it would get violated. |
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2021 has been a great year for me financially, and the growth of Bitcoin helped me achieve some of my major goals, so in 2022 I will probably be just chilling.
So I wish everyone who are still moving to their goals a great 2022!
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There's very high chance that $100,000 mark will be reached eventually, but one year is way too short term to make any decent predictions. Bitcoin market wasn't always going up, it had long periods of decline and stagnation too, we could very easily be entering another such period right now. This is why it's important to not invest more than you can afford to lose in short term. If Bukele invested too much money from the government budget and he won't be able to balance all government spending because of it, he will be in a deep trouble if the market will turn bearish.
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The problem isn't with NFTs but those bought by greed who go about stealing a work that isn't theirs and converting them for NFT tokens without any plan on negotiating with the original author or making any form of compensation.
NFT is advertised as the first solution to ownership of digital items, and yet it fails at that, because such abuse is both possible and easy to make. Bitcoin was created to solve the problems of trusting third parties that can abuse their power, and to this day that has been no single such incident in Bitcoin network, NFT claimed to do the same with digital items, and it's clearly not working. |
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For example, you can't lend Bitcoin in a decentralized way, so a bank would be needed for that.
I think I'm missing something here... How could any of the traditional banks, help you in lending your BTCitcoin in a decentralized way? My point was, if you can't lend or take a loan in decentralized way, you would need to do it in centralized way, so banks are needed for that. Of course you could make a private contract without intermediaries, but it would be too risky, so it's better to put your coins in a bank if you want to earn interest. |
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You can't have full open source chain analysis solutions, because it's also a data harvesting business. They do stuff like running Electrum servers that collect data of Electrum clients, they send dust to publicly mentioned addresses so that the owners might link them with other addresses in the future, they scan social media and so on.
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That's exactly why bitcoin is good for people who want to transfer huge amounts of money, you will have to pay thousands of dollars if you want to transfer that 800m dollars but using bitcoin you can pay less than ten dollar transaction fee and get your transaction confirmed, Basically it doesn't matter if you transfer one dollar or one million dollars is both cases you will pay the same amount of transaction fees which is very good for people with big transaction amounts.
This isn't always like that. Bitcoin fees can get crazy expensive when there's a lot of trading activity which causes mempool congestion. And using Bitcoin for transferring value only works if both parties are using Bitcoin directly for their other transactions, which no one really does on large scale. Which means that both parties would have to use fiat exchanges. So the real cost of sending money via Bitcoin is the cost of buying BTC on exchange + network fee + selling fee + withdrawal fees of exchange. And moving millions via fiat channels doesn't mean paying thousands in fees. There's often an upper limit to how high the fees can go, something like $30-40. |
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As for NFTs and artists, I'm not sure that everything is so bad and that NFTs themselves are kind of a dummy. The fact is that in the real world, the same paintings are also very often stolen, or, for example, the original is forged and sold. That is, there is also a problem. The emergence of NFT is a new vision and no one says that everything works 100% reliably or correctly, since there will always be craftsmen who want to spoil something. I still think that NFT is an opportunity to make access to the use of art easier and better, but for this you need to go through the path of technology formation and its improvement. Who knows, maybe in the future NFT will be the best solution for storing and using different values. But the fact that there are nuances, they are everywhere and always will be.
If NFT has the same problems as real art? then what's the point of an NFT? NFT promoters say that it's a revolution that will change everything, but it can't even deliver the most basic things. And we shouldn't so easily give benefit of the doubt to all new trends, that's how scammers make millions. Obviously NFT technology is very very useful, it basically is the first use case of blockchain which has spread so widely into the real world economics and almost every one thinks it's very useful. Not only in terms of metaverse, in general also NFTs are going to be too popular due to their quality of storing digital art in a very secured form. Gaming, music, video industries are going to run on NFT only in the future.
Yes, it's very useful. For scammers. |
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A good question is: Why would a bank want to give the option to their customers to hold bitcoin themselves? Isn't it against the whole point of a bank? I mean it's fine if they announce that they keep reserves in bitcoin, but why promoting it as a currency if it makes your business poorer?
Hundreds of years ago banks were dealing with gold and other precious metal money, there's nothing that says that banks can't deal with Bitcoin. Bitcoin can't replace all financial services, it can only offer transferring and storing of money. I understand that not everyone wants to be completely responsible for their money, and therefore banks or some sort of third party is likely forever going to be needed. Although, I think by default at the very least the client should be offered what they want to do by default, and be explained without bias on what that exactly means.
You don't have to store all coins yourself or put all coins in bank, you might want to put some portion of your Bitcoin stash into bank and maybe earn interest on it or have it there in case something happens to your primary storage, or for easier inheritance and so on. |
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I can understand taking taxes from something like selling drugs, but taxing theft just makes the IRS an accomplice. I wonder if we'll see a court case where someone sues the IRS to get their stolen money back.
How does this all make any sense when the US projects an image of being tough on crime, has a very high rate of incarceration, and then on the other hand seemingly supports criminal activity?
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This is a pretty obvious scam, though a lot of people will probably get scammed
How dude? If you got free tokens to sell how come you got scammed? Maybe what you mean if this project turn out to be scam in the end. You get scammed if you buy or trade such tokens, and a lot of crypto traders jump at every fresh token without even looking at details, because they think they will reap massive profits from being early investors. Some people will buy those tokens back after dumping their aidrop, hoping to make a profitable trade. The point of scammers is to create an active market and manipulate it, so they can dump their premine at the right moment. |
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