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2101  Economy / Trading Discussion / Re: If the US disable bank transfers then all other region will be forced... on: March 01, 2021, 04:23:06 AM
If the US disable bank transfers then all other region will be forced to create its cryptocurrency or stablecoin as because the transfers will only be done using cryptocurrency. It will sky-rocket the price of Bitcoin. Do you think it will happen?
What did make you think of this?

Disable all bank transafers is impossible and unrealistic step. Governments can ask central banks to disable, freeze bank accounts that have any crypto related activities. There is no convincing reasons to disable, freeze or ban accounts that don't have any crypto tradings.

Bank transfers can gradually switch from fiat transfers to CBDC transfers but they will exist in human civilization.

The day when people only use cryptocurrency is far ahead and might never come. I see the benefits for the co existence of fiats, CBDCs and cryptocurrencies.
2102  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold on: March 01, 2021, 02:36:48 AM
But still as for now Polkadot and Cosmos will not replace Ethereum with currently only 10% of ETH's market capitalization, the project has a correspondingly high potential of course.
Still behind ETH we have the biggest developers community, I think that Vitalik haven't still said his last word here. ETH 2.0 is the answer.


Source used: https://www.google.com/search?q=polkadot+eth+chain&oq=polkadot+eth+chain&aqs=chrome..69i57.5539j0j1&sourceid=chrome&ie=UTF-8
It is not easy to take over bitcoin. Ethereum, Ripple or fork as Bitcoin Cash fail with this mission.

I also believe it is not easy to take over Ethereum. It can be called as impossible and in this year definitely impossible.

Story from Bitcoin Cash, it was forked with same changes in block scalability and used force people think it is better than bitcoin in 2017. In some weeks, people believed in the take over of Bitcoin Cash and let their bitcoins were stolen by Ver team.

When bitcoin transaction fee was high, people believed Ethereum will take over Bitcoin but then the Cryptokitties and ICOs, Dapps triggered the serious network congestion and woke them up. 4 years later, Ethereum still can not take over bitcoin even it has very big communities.
2103  Alternate cryptocurrencies / Altcoin Discussion / Re: metamask question on: February 28, 2021, 03:51:26 AM
An Ethereum transaction from one address to another costs $ 10.
The token transaction costs $ 40.
You could send Ethereum to the kucoin exchange and pay $ 10 in commission, and then buy DAI.
Instead, you do a swap ($ 40), a trial transaction of a small amount ($ 40), the main transaction($ 40). What for???
It is the point.

DAI is on ERC-20 chain and fees for DAI or any ERC-20 tokens are more expensive than Ethereum itself. With ERC-20 tokens, the smart contracts are more complex than Ethereum and their transaction fees are higher than ETH transactions.

Swap on any exchange or marketplace is always more expensive than you buy directly on the market orders.

You gave a very valuable suggestion for OP to avoid unnecessary costs from swap or token transactions.
2104  Alternate cryptocurrencies / Altcoin Discussion / Re: Ethereum 2.0 - a Concern? on: February 28, 2021, 03:43:32 AM
It will be using a proof of stake algorithm instead of the old Proof of work algo. This is meant to ease on the current network congestion and high transactions fees.
The reduction on transaction fees with Ethereum 2.0 is not simply come from its algorithm. Proof of work or Proof of Stake, they can all give expensive transaction fees. Ethereum team decided and built up their algorithm for the Ethereum 2.0 network to reduce the fee.

How Ethereum 2.0 Will Address Gas Issues

Quote
The migration from ETH 1.0 to ETH 2.0 will of course be a gradual one, so I don't think it will have a big impact on the price in overtime. I think it will even be positive since so many projects are avoiding to launch on ethereum network due to the high fees.
A lot of phases to be finished Ethereum 2.0. Projects and people are trying to switch to Binance Smart Chain for their transactions or their projects. Time does not wait for anyone or any project, Ethereum need to be fast with their upgrades.
2105  Alternate cryptocurrencies / Speculation (Altcoins) / Re: The future of AVAX on: February 27, 2021, 09:25:41 AM
Main advantages for Avalanche are:
- less inflation
- better scalability (it is using Avalanche consensus)
- faster transactions (60 seconds for Polkadot and 2 seconds for Avalanche)
Less inflation is an attractive specification that is commonly used nowadays to attract investors. Do a value of one project, coin or token is defined solely by total supply and inflation schedule?

I believe it is not in the long run but in short time after launches, it can be used to make people believe about the future, lower inflation, higher price.

I agree people require for fast transactions but together with the speed, they need security and safety. 60 seconds for one block is fast enough in my opinion. The point is the size of block not how long one block is created in average. If a block can have huge transaction counts, it can meet the demand. Anyway, include huge transaction count into one block contains potential risks as same as too short block time.
2106  Economy / Exchanges / Re: Cheapest Crypto/Bitcoin Decentralized Exchanage or Wallet? on: February 27, 2021, 09:15:30 AM
When you are in crypto, you must choose the most trusted exchanges that usually biggest ones. Small exchanges can waive you fees but their purposes are to attract users. It is fine if they don't plan to scam you but if they are scammers, when they collect enough funds from customers they will exit with announcement on a hack, unable to do compensation, shut down their exchanges.

You will lose your money.
Newbies - Read before using exchanges or investing

Binance: spot, leverage, future tradings. https://www.binance.com/en
Uniswap if you are fan of token tradings. https://uniswap.org/
P2P: https://bisq.network/ or https://hodlhodl.com/
2107  Alternate cryptocurrencies / Altcoin Discussion / Re: WALLETS EXPLANATIONS on: February 26, 2021, 02:10:37 PM
[BIG LIST] Ethereum Wallets (121 wallet)

Metamask is good if you want to trade ERC-20 tokens with Swap exchanges like Uniswap and other DeFi exchanges.
Myetherwallet.com is good too if you want a mix for ETH and ERC-20 tokens. They allow you to swap your coin or tokens too but they are not good for DeFi tradings on DeFi exchanges.
2108  Alternate cryptocurrencies / Altcoin Discussion / Re: Trying to find a telegram community 2021 on: February 26, 2021, 11:50:49 AM
I have been in crypto since late 2017
With your time in crypto market, you need to have your independence for your thoughts and decisions.

Groups in any sort of: Telegram, Facebook, Discord and any other else will make you become more and more depended on thoughts, signals of the others. It is bad in crypto market that is naturally manipulated by news.

News cause signals, pumps, dumps, scams, fear, greed.
2109  Economy / Trading Discussion / Re: Trading via indicator alerts on: February 26, 2021, 10:56:24 AM
Hello does anybody have here experience with trading based on RSI or MACD or any other indicator(Which one?)
Iam considering to buy service what can send me a email when rsi crossing below 30 for example, does it worth it? Does anybody from you using it? What are your experience?
RSI and MACD can be used if you are investors and would like to make investments for medium or long term.

They are not good indicators if you are traders and would like to trade. Furthermore, below 30, which candle (5 minute, 15 minute, 30 minute, 1 hour, 4 hour) you use and connects it to RSI and RSI < 30?

I am guessing that you will intend to use 3 candles: 5 minute, 15 minute and 30 minute only as a trader. 1 hour and 4 hour are more likel matching with investors. If you are not too actively trading, you can manually use Trading view.
2110  Bitcoin / Bitcoin Discussion / Re: Bitcoin activity now uses more energy than all of Argentina on: February 26, 2021, 08:55:10 AM
The big question is, why aren't more people happy about this? I mean, burning fossil fuels is good for the world. It puts more CO2 into the atmosphere so that plants have food and grow better. More electric plants can be built, making more jobs available. Sounds like a win-win Bitcoin mining operation.
Despite of my disagreement on the over exaggeration on the power consumed by Bitcoin mining activities, I did not agree with your opinion.

The fact is plants on the planet has been decreasing so even if with the same CO2 emission amount, less amount of them will be consumed by plants on the planet. The more CO2 emission will make it worse. Fossil fuel is bad in the environmental aspect, always. It is true for all activities, not only bitcoin or crypto mining activities.

The world and human civilization need to find and use more renewable resources for their energy consumption.
2111  Bitcoin / Bitcoin Discussion / Re: Would Satoshi Nakamoto hide some private key........... on: February 26, 2021, 08:49:11 AM
Would Satoshi Nakamoto hide some private key with stored bitcoins hidden in this or another forum?  Cheesy
Private key should be stored safely and in secret. Offline is a must to get good safety. Do you think the creator of bitcoin does not know what is the best to secure his bitcoin's private key when he coded it, launched the bitcoin network years ago?

Be your own bank with your private key is the slogan of bitcoin. He would have never put his belief on any online services, forums to store his private keys.

Quote
It would be interesting if he did  Grin
Never. He would have never made such things.


2112  Alternate cryptocurrencies / Altcoin Discussion / Re: what is unique of Binance smart chain on: February 25, 2021, 12:46:48 AM
What you all think about binance smart chain, compare to the eth smart chain are there any uniqueness. binance smart chain bsc is still baby. may be 2024 will be massive
It is not unique. Binance Smart Chain is a copy of Ethereum chain. They modify it for their purposes which overlap and satisfy the demand from community for cheaper transaction fees and shorter waiting time for confirmations. Ethereum users have been tired of long waiting for ETH 2.0 and they have been charging with too expensive transaction fees with the overloaded network.

Binance Smart Chain as consequences of such current cons of ETH chain, is adopted so well in recent months and they will maintain it in the future. They are totally centralized in the hands of Binance so they will be easily to be upgraded with protocol.

I disagree with you if you are considering Binance Smart Chain as a unique chain.  Cool
2113  Economy / Trading Discussion / Re: Never catch a falling knive on: February 25, 2021, 12:34:23 AM
If you are not familiar with this term, just look at the bitcoin price as now.  There it goes!
A falling knife is dangerous only when people don't know where is the support and resistance and don't have idea how long they are willing to let their orders and positions open up. If they participate in the market, opens a position and are not willing to exit with a draw, they will highly exit at big loss at bottoms. At the price around bottom where they should hold tightly, they exit the market.

Bitcoin is in the bull run and corrections are healthy for higher levels to be reached out. Don't worry, it is not a falling knife that you will see more often in bear market.
2114  Bitcoin / Bitcoin Discussion / Re: How youtube bitcoin professional traders are scamming on: February 24, 2021, 01:11:09 AM
The idea to rely on Youtubers for your trades or investments is rotten at the beginning.

Youtubers need traffics and subscribers on their channels. What they try to do is attract as much people as possible that will help them to earn money.

On big youtube channels, you will see many fake youtube accounts try to impersonate the real youtubers. They are scammers and you will lose your money if you follow their request. Real owners of big youtube channels are not likely to scam you with $500 or $1000 as they can earn more from their works in the long time.

Be careful at most with fake youtube accounts.
2115  Economy / Trading Discussion / Re: Newbie traders - Learn from my mistakes on: February 24, 2021, 12:50:18 AM
Doing trading can really be done by everybody but we cant really deny the fact that there are people which arent effective in terms of trading even though they had been trading in the market for a while now.Just like my friend which is trader but eventually quit after 2 years of doing trades still end up on a loss.
Not all things would really goes well into an individual so this will really be varying on someones persistence on what he had been engaging.
Trading is difficult as you can not control your decisions, greediness and fear. You can win big in some days but can lose all in one day.

Experience is in fact the best teacher but the issue with that in the markets is that any mistake can be costly and sometimes the price you have to pay is so high that it is impossible to become profitable ever again.

Basically trading is incredibly unforgiving, think about almost any other activity you do and you will see that a mistake is for the most part not costly at all, so you can make several mistakes, learn from them and improve until you are good, but when it comes to trading if you make a big mistake it is impossible to fix it and for the most part that mistake causes you to make yet another series of mistakes which can end your career as a trader before it even begins.
Because of this, traders or investors who are totally new in crypto market have to be careful with every decisions. They need to have preventive plans for their capital and lives. Borrow to trade and go gamble with margin then high leverages will make them paranoid, weak and end with terrible decisions.

Cost of learning will be a mixture of time and capital. You have lot of time to spend but you won't have much capital to waste. If you use all capital to do trading or invest at the beginning, you will lose it after one or two big failures.

Let's get started to trade or invest with small part of your capital, and use a few other parts for later lessons.
2116  Economy / Trading Discussion / Re: Stop Loss influence in massive dump on: February 23, 2021, 04:23:55 AM
I had a few stop loss order filled todays dump happened a few hours ago, sadly that's the point from where coin moved up.
Which price do you set up your stop loss order?

Your stop loss orders would be set up at the price much higher than the nearest strong supports you define from chart.
It would be a price a bit lower than strong resistance that if is rejected, price will be fallen back. It would be your entry price. Stop loss does not mean stop loss eventually, it is to stop your position, and the best is stop at price that can 100% protect your capital.

Better, it would be a price can help you to get small profit and exit your position.

You probably set up your stop loss at strong support price and sure price will bounce back strongly.
2117  Economy / Trading Discussion / Re: What is the best way to "secure" your coins? on: February 23, 2021, 03:54:45 AM
Let's assume someone has a bigger amount of crypto (10 BTC+). Now this person assumes that the price will drop and therefor instead of hodling, he wants to "secure" his crypto in USD and buy back at a later point. What is the best and safest way / exchanger to do this? Stablecoin? Is DAI the only stablecoin that cannot be frozen? The whole procedure also should not include any KYC. Not because it is illegal money, but because said person has heard some horror stories and wants to be as safe and anonymous as possible.
With 10+ BTC, the equivalent amount in fiat or stable coin will be huge.

When you use stable coins, you must put your capital and your belief in those companies. Stable coins are only other types of fiats and they are likely digitalized versions of fiats. Many stable coins are minting from the air and they can be frozen by governments.

To secure my bitcoin and my capital, I will do it with fiat. At least with fiats are backed by big governments like the US, it won't varnish in the air. If you argue the inflation of fiat, you would know stable coins have inflation too. They are pegged with ratio 1:1 to fiat so if fiat has inflation, stable coin will be inflated too.
2118  Bitcoin / Bitcoin Discussion / Re: Staking and BTC on: February 22, 2021, 04:42:14 AM
Hi there,

Im in need of some schooling I am afraid.. Anyone care to help a starter?
Somehow in my exchange account I get staking rewards over my BTC. But you can only stake POS no? Isnt BTC POW and that doesnt work via staking i thought.
Would really appreciate some help.

cheers,
Nivi
You can not stake your bitcoin as it is a Proof of work coin.

You can earn with Lending on exchanges. Example on this Lending page of Binance: https://www.binance.com/en/lending#lending-demandDeposits
2119  Other / Beginners & Help / Re: Common mistakes made when investing in crypto on: February 22, 2021, 04:26:48 AM
Another known mistake is to use a web wallet instead of a hardware wallet to hold larger crypto amounts.
Personally, I only use the web wallet to hold the current, smaller amount of money I need each day.
My friend thought the web wallet was safe and within a week the hackers hacked his that wallet and took all his crypto assets.
Also, you should never invest money that you can’t afford to lose.
Remember, crypto is risky investment!
I don't want to use web wallet if I have other wallets to choose.

And if I have to use web wallet, I will created different wallets with each of them will be used to store a portion of my capital in altcoins or tokens.

I know if my computer is infected with malwares, trojans or viruses, all data can be stolen but I believe if I store my crypto in different wallets, it will take more time from hackers to get access and steal all of my fund. If I can detect the steal early, I can save some of my fund.  Grin
2120  Bitcoin / Bitcoin Discussion / Re: ETF, possible to create more than 21 million btc? on: February 21, 2021, 02:53:47 AM
In fact, bitcoin has less than 21 million bitcoins.

No one can create more than 21 million bitcoins but if you are considering about derivatives, people might buy or sell more representatives of bitcoin. The amount of derivative bitcoin will be higher than 21 million. However, they are not real bitcoin. They are simply credited figures to accounts, not real bitcoin.

If you use leverages for your margin trades, you will be able to trade x2, x5 of the bitcoin you have. You don't trade your real bitcoin and what you use to trade is the credited bitcoin that is unreal at the time you are trading.

Don't fear about that drama as only less than 21 million bitcoin for all people on the planet or even aliens.  Smiley
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