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As a beginner using Bitcoin, I believe privacy is crucial because it helps keep my personal and financial information safe. When I use Bitcoin, my transactions are recorded on a public ledger, which means others can see what I'm doing. To protect my privacy, I should take steps to safeguard my identity and transaction history.
To do this, I can use privacy-focused cryptocurrencies or special tools in my Bitcoin wallet that make it harder for people to trace my transactions. I should also be careful about sharing my personal information online, as it can be used to connect my online identity to my Bitcoin activities. I must also remember to follow the rules and laws in my area, as some places may require me to share certain information when using cryptocurrencies. Balancing privacy and compliance is important for me as a beginner in the world of Bitcoin.
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Trying to make someone buy Bitcoin or any investment is not a good idea. Why? Well, because these things can be pretty tricky. They can make you money, but they can also make you lose it just as fast. Everyone's got different money goals and how much risk they can handle. So, it's better to let people decide on their own when it comes to investing. Give them the facts, let them think it over, and support whatever choice they make without pushing them into it. That way, they can make the right decision for themselves.
First of all, any investment is something that is completely free to be done and chosen by anyone as long as the person who chooses and does it really understands the method and the risks. Apart from that, the investor himself is also very familiar with the asset he has chosen and has also done some research in the past on that asset so that he can be quite comfortable making a decision at this time. So this kind of thing is not a compulsion nor is it a bad idea to do it because it is already based on very wise methods. Remember, it's their money and their future, so they should have the final say in how they want to handle it.
Those who still want to remind you have also started and are making their own money so you don't need to assume that every carrier of information about Bitcoin and investment is out to take your money. But they could just tell everyone about it by making up their own minds after knowing it, so this is also something to keep in mind before judging other people's information. My point is that giving some advice like "Bitcoin is great! I've made so much money from it" can be persuading them to think to buy into it. Like I said here: I agree that ideally the person doing the investing is 100% accountable for what they do. However, if someone persuades someone else into risky investments, the investor can't hold 100% of the blame since the persuader can make it sound lucrative.
They are accountable for their investments, but in my mind its not good practise to convince people into investing into things that we may find interesting |
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there was a lesson I lean from here. when you are preaching to someone about Bitcoin, you shouldn't talk too much, and you shouldn't stay long and you should also allow them make some research and ask questions about what we are preaching to them, to avoid loss at the end.
I don't know, how you see it.
Trying to make someone buy Bitcoin or any investment is not a good idea. Why? Well, because these things can be pretty tricky. They can make you money, but they can also make you lose it just as fast. Everyone's got different money goals and how much risk they can handle. So, it's better to let people decide on their own when it comes to investing. Give them the facts, let them think it over, and support whatever choice they make without pushing them into it. That way, they can make the right decision for themselves. Remember, it's their money and their future, so they should have the final say in how they want to handle it. If you are also a wise investor, you will not also invest in something that you never know. It is not the reason why we invest blindly because of someone pressuring us but it is due to we simply believe that investment is good and we trust that person. Actually, it is in our hands whether we have to invest or not, not by the decision of others meaning, we don't have to blame that person but rather blame ourselves. Unfortunately, what we do is that we give responsibility to others while it is our money. I agree that ideally the person doing the investing is 100% accountable for what they do. However, if someone persuades someone else into risky investments, the investor can't hold 100% of the blame since the persuader can make it sound lucrative. |
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For me, investing through previous bull markets has taught me lessons that have been good for crypto and stock market. I've realized the importance of patience. holding strong while prices are volatile is key. Sure, it's cool to see your money grow fast, but you shouldn't rush into things. Also, it's smart to spread your investments around. Don't put all your eggs in one basket. Stay updated on what's happening in the market, like news and trends, so you can make better choices. Lastly, don't let your feelings control your investments. Sometimes, it's easy to get too excited or scared, but keeping a cool head and thinking long-term is the way to go. These lessons have helped me handle bull markets and be ready for the ups and downs of the stock market and crypto market
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Hi how are you everyone?
I'm great, it's good to see other fellow Canadians on this forum, although our Canadian thread seems to be a lot more concise than the other countries. We need to have more interesting news happening in regards to bitcoin in Canada lol. |
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1. Didi
2. Chad
3. Jade
here's two more
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My favorite subject in school is math because it's like solving puzzles every day. I love the feeling of cracking a complex problem and seeing how everything fits together logically. I guess thats why bitcoin seems appealing to me aswell.
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there was a lesson I lean from here. when you are preaching to someone about Bitcoin, you shouldn't talk too much, and you shouldn't stay long and you should also allow them make some research and ask questions about what we are preaching to them, to avoid loss at the end.
I don't know, how you see it.
Trying to make someone buy Bitcoin or any investment is not a good idea. Why? Well, because these things can be pretty tricky. They can make you money, but they can also make you lose it just as fast. Everyone's got different money goals and how much risk they can handle. So, it's better to let people decide on their own when it comes to investing. Give them the facts, let them think it over, and support whatever choice they make without pushing them into it. That way, they can make the right decision for themselves. Remember, it's their money and their future, so they should have the final say in how they want to handle it. |
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In the comparison between Bitcoin and fiat currency, Bitcoin stands out for its potential to grant individuals greater power and control over their assets, thanks to its decentralized nature and transparent blockchain technology. It offers accessibility to a global reach and also has a limited supply, which some can see as a hedge against inflation.
However, I believe that Bitcoin is also marked by significant volatility, limited acceptance for everyday transactions due to its mining process, a lack of regulation that can lead to risks. Whether Bitcoin is a better choice than fiat currency depends on individual preferences, risk tolerance, and financial goals. Diversification and informed decision-making remain important aspects of managing one's finances.
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I read some old threads about lost Bitcoins ND this question has been on my mind ever since
If the lost Bitcoins were for instance recovered will the price of Bitcoin drop because in theory it would affect the amount of Bitcoin in circulation which will lower it's price . I saw in those threads that lost Bitcoins are considered a donation to the Bitcoin network. so if my theory is correct then we should be happy those Bitcoins were lost.
If Bitcoin wallet addresses are lost, the Bitcoins associated with those addresses essentially become inaccessible. This is because Bitcoin transactions and ownership are tied to the private keys that correspond to the wallet addresses. Without the private key, it's impossible to access or spend the Bitcoins associated with a particular wallet address. So, if someone loses their private key or the information needed to access their wallet, those Bitcoins are effectively lost. However, it's important to note that lost Bitcoins do not directly affect the overall supply of Bitcoin in the market. The total supply of Bitcoin is capped at 21 million coins, and this cap will not change due to lost Bitcoins. What can happen, though, is that the reduced effective supply due to lost coins might create a perception of scarcity and potentially influence market sentiment. If a significant number of Bitcoins are lost and cannot be accessed, we can argue that the scarcity could increase the value of the remaining accessible Bitcoins over the long term, as they become relatively scarcer compared to the fixed supply. |
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I have been recently taking some courses on the area of machine learning and artificial neural networks. This sparked some thoughts in my head about how this new advancing field of machine learning / AI relates to the cryptocurrency field. It's no secret that both these domains have been making waves individually, but what happens when they come together?
Does the advancement of ML and AI help with the growth of Bitcoin as a currency, or does it hinder the growth?
In terms of predictive analytics, I'm sure AI has been tried and tested to predict stock prices & etc, and failed. I'm assuming it would be the same with Bitcoin.
In terms of anonymity within the Bitcoin blockchain, Machine learning can be used to track down transactions for fraudulent services and possibly help control the illegal activities transacted through bitcoin?
What are your thoughts on the growth of these "technologies" ?
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There are so many ways for newcomers to invest into bitcoin these days. for example i live in Canada, and here there are so many investment apps popping that support bitcoin as a recurring way of investing (like wealthsimple). Although you don't specifically own your keys with this approach, its still a valid way for newcomers to get into investing in bitcoin.
Ultimately, majority of the people in this forum will recommend you to own your keys and would ask you to create a cold wallet using one of the many mobile apps to keep control of your keys, then you can buy bitcoin from exchanges and transfer it to your wallet.
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Being one of the famous personality around the world, Elon Musk is using his tweets to pump up the doge coin. I can't say that he can dump bitcoin alone with his tweets because there are other big players involve in it too but for dogecoin, he is single handly pumping with his tweets. But this cannot continue forever. Sooner or later, his tweet will have no effect on the prices. I wonder when that time will come ?
I believe that over time the general population will come to realize that celebrities tweeting has an effect on the price of bitcoin and this will allow for resiliency in the currency as this will be baked into the price. In the short term, these tweets are unexpected and will continue to influence the price of crypto. |
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This sounds interesting. Posting to participate, please send me the list of 8 questions.
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At the time of writing, Bitcoin represents roughly 63% of the crypto market cap. This leads me to believe that it may not be so much that other alt coins depend on bitcoin for price, but more that if something affects Bitcoin price, it then affects majority of the crypto economy.
If some news / trends have a impact on on the player that holds 63% of the market cap, its bound to affect the other smaller players in a similar way.
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Please quote this message Address: 1teemusXtyLwrFbSt2mozdkCQHuYbqAQd
Message: I am Smeet and i signed this message on Dec 9th 2020
Signature: IAUB0Ib1Y31R68dtlsfl0AcPELtheIt2bnVEqXrcKvIXclr/Wqrr8mPDAfborpI3GlIhwU9PRBovvDZOYMtb7K0= |
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Address: 1teemusXtyLwrFbSt2mozdkCQHuYbqAQd
Message: I am Smeet and i signed this message on Dec 9th 2020
Signature: IAUB0Ib1Y31R68dtlsfl0AcPELtheIt2bnVEqXrcKvIXclr/Wqrr8mPDAfborpI3GlIhwU9PRBovvDZOYMtb7K0= Please tell me I did that right  |
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Hey guys! I am very new to cryptocurrency and I am seeking advice on how and where to invest. I do not have enough to buy an entire bitcoin. I am wondering if it is better to buy altcoin and convert it to bitcoin later. There is so much information on the internet that it is sometimes overwhelming. That's why I am seeking your advice and getting involved in this community.
If I was in your position, I would try and learn as much about bitcoin as i could before investing in it. I say this because I actually did do this. Learn more about Bitcoin and the benefits and downsides it has (it does have some problems that can be solved), and then invest into it whenever you have the funds to do so. Putting the money into an altcoin only to be put into bitcoin later isnt the right thing to do and is pretty much gambling and trying to time the market. |
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In my opinion, the biggest factor limiting the educational institutions from accepting crypto in general is the volatility of the market prices. Since the facilities have to use the tuition payments to pass on further for salaries / funding different departments, they have to liquidate the bitcoin that they would get as payment almost instantly to avoid losing any money from the volatility.
Another burden that they would have to face would be trusting an exchange to convert the tuition payment into local currency quickly without paying much fee and trusting that the exchanges have good security measures in place as well.
I'm not saying I don't agree with Universities accepting crypto for tuition, but I believe that they have many downsides to doing so which will prevent many universities all over the world from doing this.
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I don't know the reason why this issue is a bad thing to BTC??
I was thinking that with comparison to gold investing, investors usually buy and lock up gold for the long term. Similarly, if bitcoin started being bought up and stored for the long term, the amount of btc being transacted daily would be lower, and this would kind of defeat the goal of bitcoin to act as a currency. |
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