It seems that although there are many altcoins on the market, they have not been able to exceed the price of Bitcoin. Many of these altcoins have risen quickly, but they have fallen suddenly.
The appearance of these altcoins cannot affect the price of Bitcoin. On the contrary, they are all affected by Bitcoin, and the advantages of altcoins are not very obvious. Bitcoin is far superior to other altcoins in terms of network and application. Altcoins can make up for some of the deficiencies of Bitcoin, but you want to It is still difficult to surpass Bitcoin.

I don't think it is easy to eliminate absolute poverty. If the whole world is no longer poor, I can't imagine whether people in this society will still have the initiative to make progress. In my opinion, it is because of the existence of people at different levels that the world's economy is balanced. Although the government can help the poor, it can only solve part of the problem of food and clothing, and cannot make them rich. The most fundamental way is to change oneself and change the status quo through hard work.

Some countries have chosen to stand on the opposite side of cryptocurrency, while some countries have chosen to accept cryptocurrency transactions or even use them as the country's legal currency. I guess the most fundamental reason why most countries do not accept or prohibit crypto transactions is that the government cannot supervise it. It is decentralized and has impacted the traditional domestic financial model. The government will think that some people with bad intentions will launder money through cryptocurrency. , This is possible, but I think most governments are also aware of the innovative and revolutionary nature of the blockchain, and are also studying the blockchain themselves. Only created by the government, it will be a regulated currency system that uses blockchain technology, but is essentially a centralized currency system. They always want to control what is in their hands.

The FCA ban issued by the United Kingdom is clearly aimed at Binance. The purpose may be that the government regulates all trading activities of Binance. This may greatly reduce the income of the United Kingdom. This ban clearly shows the government’s attitude towards cryptocurrencies. Cryptocurrencies are not welcome. FCA bans often mention that retail investors lack knowledge of crypto assets, but I'm sure that most retail investors know crypto assets better than FCA.

Thank you very much for your advice. I’ve seen countless posts and comments from people who regretted not buying Bitcoin when they first heard about it. Or those who got in early and sold as soon as they made 2x profit when they could have easily gotten 100x profit. So I am now waiting for a good time. When the market fell, I bought part of it and planned to hold it for a long time. I think I need to maintain a good attitude not to be affected by FUD.

As a newbie in cryptocurrency, I first learned about cryptocurrency and wanted to start investing,The reason was that I couldn't go out during the covid-19. I happened to see cryptocurrency news on the website. I started to be shocked by their earnings. I started to invest in Bitcoin and other altcoins with my free funds. I want to ask you when and why did you start investing in cryptocurrencies?

People will always try to avoid disadvantages. Government investment projects are generally guaranteed by government credit. Unless the government collapses, investors will not lose money. We cannot force everyone to participate in cryptocurrency investment, because some people I don’t like to try relatively high-risk investments and there is no guarantee. Moreover, there are still relatively few countries that allow Bitcoin transactions. Under strict national control, people naturally think that Bitcoin is a bubble-like scam, and naturally they dare not invest in Cryptocurrency projects.

In fact, when many people entered the encryption field, they already knew that this is a relatively high-risk investment, but there are still many people participating. I don’t think everyone needs to take high risks to get high returns. There are many like me, I just want to use some of the spare funds to invest. No investment is risk-free. Maybe the bank is a relatively safe investment, but if you put your money in it, you will never get a higher return. , Can not even keep up with the speed of inflation, you can learn more about encryption before investing, which can help you better judge the market situation, it is better than you just want to avoid risks blindly.

No one wants to be a slave, but the way most people get rid of slavery is to become a slave owner. You say you want freedom, but when you really break free, you hold more people's unfreedom in your hands, but I think in the field of cryptocurrency, you can get rid of the slavery of others, and you can enjoy your own wealth. No one can control you. It is open source, transparent and open. The emergence of cryptocurrency allows us to realize the freedom of wealth and gain autonomy, so that we will not become enslaved people.

In the field of cryptocurrency, it is true that men account for the majority, and women may only be a small number of people. Women are naturally less interested in digital and investment finance, especially for cryptocurrencies, which are extremely risky. Most of them like stability. I don’t like to challenge high risks, and the knowledge about encryption is not popular enough. Not only are women, but there are not many people in the world who are involved in the encryption field. We welcome women to join, and we do not exclude women, because they can also get a good income from it.

I am very pleased to see that more and more countries have joined the field of cryptocurrency and have begun to accept the trend of cryptocurrency. This represents that countries have begun to accept and learn to study blockchain technology. This is a good start, especially like El Salvador In countries with severe economic inflation and domestic legal currency failures, in a sense, blockchain technology and digital currency can solve the financial and credit crises brought about by legal currency. When more applications support cryptocurrency, it means that the demand will increase. As the demand increases, the cryptocurrency will be more perfect, and perhaps to a certain extent, the status of the cryptocurrency will be recognized by the world.

Why do you raise such a question? It's obvious that over the years, when Bitcoin went up, other copycats went up, but if one day Bitcoin crashed, which copycats do you think would survive? First of all, after more than 10 years of operation, the consensus of Bitcoin has been very strong and has been recognized by some countries. Moreover, the number of users is very large. Second, Bitcoin has remained strong after many setbacks, which other copycats can't. And Bitcoin has a strong technical support and computing power guarantee, other copycat coins can not compare with it. The best case scenario may be that Bitcoin coexists with other copycats, but displacing Bitcoin is unlikely.

In life, we can have no Bitcoin, because Bitcoin cannot replace legal currency for the time being, legal currency will be more stable than it and more suitable as a daily payment transaction method, but as many people mentioned in the comments, I think that in the crypto market, there cannot be no Bitcoin. It can be said that other cryptocurrencies are extended on the basis of Bitcoin. It provides a technical reference for other various cryptocurrencies, even without the emergence of Bitcoin. Similar cryptocurrencies have also appeared. This is an irreversible trend of the times and a manifestation of people's desire to have autonomous control over wealth.

At present, Altcoin do depend on Bitcoin, and I think there are several reasons: 1. Some altcoins project party does not have good technical support or good marketing strategy, so that people do not believe in their project. Once the market fluctuates sharply, people will immediately sell their altcoins, which leads to a serious price decline. 2.Bitcoin has been in existence for more than ten years. After many blows, its price has been rising for a long time. It is hard to say whether it can recover if it is a altcoins. All in all, it will be difficult for altcoin to escape the influence of Bitcoin, which has become a bellwether as the leader of cryptocurrencies, unless there is a stronger consensus among other altcoins and technology that may surpass Bitcoin in the future.

Countries like Mexico whose economy itself is not very wealthy should actually need cryptocurrency to help them more, but instead they banned the transaction of cryptocurrency instead of guiding the masses to use cryptocurrency correctly. Corruption in Mexico is very serious. Perhaps they are banning cryptocurrencies because they are afraid of people with bad intentions using cryptocurrencies to do some illegal things, but even if a country like Mexico prohibits transactions, they cannot restrain the masses below. The transactions will still exist and will not affect the cryptocurrencies. The impact on the market is extremely small. In fact, if Mexico can reasonably use Bitcoin and other cryptocurrencies, it may be able to alleviate the serious domestic inflation. However, these government officials are always full of unknown things that they cannot control. In addition to the psychological resistance, the trend of the blockchain era will eventually change the world. If it does not conform to the trend of the times, it will eventually be abandoned by this era.

To be honest, at the beginning, cryptocurrency attracted me because I saw some people gain huge wealth from investing in cryptocurrency, which made me start to enter this circle, but after in-depth study, I think the more attractive part of cryptocurrency is Their decentralization, worldwide circulation, and their own control rights, as well as the blockchain technology that realizes these, have brought great changes to the world, especially after seeing your post, I realized that the creation The original intention of Bitcoin was that I would be happy to help other people. If there are newcomers like me who come to the forum, I will help them answer their questions. I also think that if I gain wealth in the future, I will help more difficult. People, take their own responsibilities, teach the idea of cryptocurrency to more people, and let everyone share wealth together.

I think Bitcoin is not stable enough to be used as a world currency alone. If the national policy allows Bitcoin to become a social product, there is no problem as a means of payment. In addition, the value of Bitcoin and its function as a means of payment also depend on whether the whole society accepts it. Therefore, it seems that Bitcoin is unrealistic as a single currency in circulation. In this sense, Bitcoin is just an asset, a value-preserving product of the same nature as gold, and a product of consensus. Its value as an investment asset is still acceptable.

My suggestions as a rookie are: 1. First of all, don't blindly follow others at any time, and have your own judgment. 2. When entering the field of cryptocurrency investment, you must make sure that you have carefully studied relevant knowledge, and don't just be greedy for profit for a while. 3. The market has changed a lot. If you don't have strong enough psychological endurance, please don't invest a lot of money. You can try out a small amount of money that does not affect your life. 4. Finally, I also advise you to think carefully when investing. Bitcoin can be held for a long time, but other altcoins are extremely risky. Before you fully understand the market, remember not to invest in small unknown projects. They It is most likely a scam.

Thank you very much for the video you made. Although I have been on the forum for a while, I am still a novice. I understand why people trust Bitcoin by seeing the video you posted. I don’t know Bitcoin deeply yet, so I’m very happy. I can see how to make videos like op to help friends who just started to understand better, and hope that Bitcoin will gradually be accepted by more people, because Bitcoin technology is open source, it can protect our privacy, and no one can control it. With our Bitcoin, I believe that more and more of the advantages of Bitcoin will be seen, and a strong consensus group will be formed.

Bitcoin separates money from state. It replaces a state's monetary policy with a predictable and diminishing inflation rate, making Bitcoin a scarce asset in such a way that you don't have to take anyone's word for it. Bitcoin can be held in private custody in such a way that it's hard to confiscate, and can be transferred in such a way that it's hard for anyone to prevent you from doing it.
And these are the reasons Bitcoin is better than traditional money.