I don't care about what happens to other coin's markets, I only care about fundamentals. If ETH is surpassing Bitcoin purely because of some new useless smart contract hype like DeFi or NFT, that's not the reason to worry, because those things are like beanie babies, they come and go, it's not something sustainable. But if ETH will somehow get better scalability, better security and actually useful features and this will cause the flippening, then I might consider flipping too. But I don't see it happening anytime soon.

The "%X of bitcoin are owned by 1000 people" is a meme at this point, because it's always different X that is being claimed - 40%, 90%, 99%. Because the truth is, no one did a good research about it. The thing about any wealth is that it will always be concentrated in the hands of the few, because once you get wealthy, it's easier to get even more wealthy.

I can't agree that Bitcoin's supply is centralized. Centralized is when one entity control 30%+. Satoshi only controls 1/21 of Bitcoin's supply and doesn't do anything with it.

Absolutely no. Crypto doesn't offer anything fundamentally better, except for control over own money, which most people don't need and don't want. Cryptocurrency isn't even theoretically suitable  for being a backbone of the economy, because there's still no coin that can scale to millions of active users, and without central bank its price is too volatile.

I joined this community 5 years ago and people back then were telling that in a few years the whole world will abandon fiat money and banks and will switch to Bitcoin. But in all these years there was no major progress in Bitcoin payments. You still very rarely see the "Bitcoin accepted here" banner on websites, almost no major company supports it, Steam stopped accepting it when the fees got high for the first time.

You are right that people will dump paper money, because now everyone has a payment app or can pay with their smartphone, but Bitcoin has nothing to do with it. Just because the world is moving towards digital money doesn't mean it's moving closer to Bitcoin.

This used to be the case 20 year ago, but today browsers come with secure RNG seeded with device's entropy. Wallets like MEW use it and it's not a problem.

OP, why not use Shamir's secret sharing? I think Ian Coleman has mnemonic tool for that, and it would allow for a better setup than this. Currently you have a seed which is useless alone and passphrase that is impossible to memorize and is useless alone. But with SSS you can create N of M setup where each shard is equal and you don't need them all to get the key.

El Salvador has 6.5 million people, so they all have to have phones, install Chivo and do a bit below 100 transactions every day to reach that number  🤡🤡🤡

With every day Nayib Bukele looks more and more like an incompetent populist. I have a feeling that in the end it will only bring bad rep for Bitcoin.

Can take really long if it's a larger thread with let's say 50 pages.

OP, if you need to do this regularly, you can ask a developer to make you a program to do this automatically. If automated browsers like puppeteer have this "save as PDF" feature, it can be very easy to develop a program that will quickly save any thread in one click.

That image says 14k transactions per day via ATM, but in the top right corner it says 65k transactions per second in dashboard, what does that mean? Is this like maximum theoretical capacity or something? Because not even Visa has 65k transactions per second globally.

Is anyone using SHIB in real life? Or DOGE? Do people pay with it for their purchases? Do people use it to send money overseas? Do people use it in online stores? The answer to all those questions is no. And it will not change. There's already Bitcoin, the coin that is backed by enough PoW to not worry about attacks, and the code that is reviewed by thousands of world-class experts. Meanwhile SHIB's or DOGE's value is based on Elon Musk's meme tweets. If you think this is an example of a good investment, you will just lose money over and over trying to catch the newest pump.

DCA is a buying strategy, not a selling strategy. And I think it's generally a bad idea to have your current positions affect your future positions. That's how you can end up doing reckless things like chasing loss after loss or going all in after taking a big profit. Just ignore your leveraged positions and do some long-term Bitcoin investing. Don't think about when to sell, when the time will come, you will know it.

It's a typical newbie mistake to pick one case and use it as base for making predictions. If you take the larger historical data, you will see that on average altcoins lose value. For every shitcoin with a huge pump there's a hundred of shitcoins that went to zero. No one has a special talent for choosing the right shitcoin that will pump, there's no skill or research here, it's just luck. The only people who profit from it consistently are the manipulators behind the pumps.

"No one knows anything" actually means "no one can predict the future reliably", because there are countless variables with different probabilities. But people can make predictions that have higher chances of being right. And if you can make such predictions consistently, you can make profit as long as you don't go all in on every trade.

I think the real paradox is telling absolute beginners to do their own research when they have no idea where to start and how to tell bad advice from good advice. That's how they end up watching some crypto hype videos and investing in shitcoins or making some stupid high leverage trades and losing their entire life savings.

Major governments simply won't allot such thing to happen, they will fight tooth and nail to stop Bitcoin from replacing fiat money, and they can do it very effectively. How can Bitcoin replace fiat if governments won't allow any legal business to accept it as a currency? Either all business will have to switch to black market, which is absurd, or people will need to rise against such government, but why would people do that if almost no one cares about Bitcoin? China banned Bitcoin recently, and there has been no protests from the people.

Isn't Chivo giving away $30 to anyone who registers? Of course a lot of people in a poor nation would want to claim free money. The article claims that millions of users were added to Lightning Network, while in reality millions of people just installed an app. Not a fact that they will use it in their daily lives. A lot of people will uninstall it once they claim the free $30 or will use it a few times per year. It's completely unrealistic to think that millions of people who a few weeks ago didn't care about Bitcoin are not "Bitcoin users" who conduct their purchases through LN.

People could be storing their seeds or hardware wallets with encryption, or storing something like only shards of a key split with Shamir's secret sharing. And robbing deposit boxes must be insanely hard, so considering the unreliable payout, no one will be doing them.

What will actually happen in the future is that criminals will be kidnapping relatives of people with large crypto holdings and demanding ransom. Crypto is very favorable for kidnappers in this situation, because bank transfers can be traced and frozen, cash transfers require physical presence, but crypto can't be charged back and can be mixed. Crypto is already the most popular method for ransomware, it's only logical it will be used for kidnapping too.

Bold of you to assume I hold those shitcoins 


Maybe my relatives will be able to access my crypto exchange accounts since I did KYC there and in the future there might be laws that will help with accessing such accounts in these cases, just like relatives can claim bank accounts in case of death. Right now the amount held in exchanges in really small, but who knows how much it will be in the future.

As for wallets, right now I store my seeds without any encryption, so if they go through my stuff and don't screw up the recovery process by installing a fake wallet, they might be able to claim all my coins.

Ukraine is absolutely not looking at adopting it as legal tender, they recently adopted a law that would regulate cryptocurrency, and they specifically said that it can't be used as a payment method.

People here love to call out mainstream media for incorrectly covering Bitcoin, but Bitcoin media spin lies and misinformation all the time, usually just to create FUD or FOMO, whichever is more prelevant at the moment.

If you literally copy Bitcoin's code, you just have a Bitcoin wallet. If you start changing the code and your rules are not compatible with Bitcoin network, you will have either a hard fork or a soft fork. A soft fork means that some transactions that were valid in previous versions are invalid in new version. A hard fork is introductions of new rules that are not compatible in any way with old rules. A hard fork always results in chain split, while soft forks not always lead to chain split.

But even if you do a soft fork on with a minority chain, you will likely have a chain split. So you will have an altcoin split off Bitcoin with only your node running it. And in case of forks devs must implement replay protection and new address formats to prevent their users from suffering losses.

Copypasting Bitcoin code is not as easy as it may seem, and even if it's done more or less correctly, such coin is not getting any popularity. So most altcoin creators either make Ethereum tokens or create a new codebase for their coin, even if they heavily borrow the design from some other coin.

If it was so simple, Bitcoin would have costed $100,000 at its first year. The price fails to reach some arbitrary high levels quickly because a lot of people take profits. People who invested months ago can be satisfied with 30-50% profits and there's nothing wrong with that. People who hodled for a few years could be satisfied with 1000% profits. No one became poor by taking large profits.

If you take crypto as a whole, it's a lot like the dotcom bubble, except this bubble lasts for much longer and it's also not as big and mainstream. And some companies survived the dotcom bubble to become the tech giants we know today. How many coins will remain relevant after a potential crypto bubble burst? I think aside from Bitcoin, no coin is safe. Even Etherem, the second biggest coin, is not that useful as it pretends to be.