Do you think we've reached the limit of our economic growth then? I don't think so. Loans are fine as long as you don't lend what you don't have.

Capitalism does not mean fractional reserve banking and quantitative easing. These terms were coined in capitalism, but not before it. We can have economic freedom and industrialization without money printing, high inflation and insider trading. They want us to play their game and stay poor and the only way is to opt out of the game, refuse to play. Choose bitcoin!

If the news are true they're in deep shit to change their stance. A year ago Russia was against mining and was trying to limit the amount of power miners can use. They were afraid of blackouts and also actively working on their own CBDC.

https://www.cnbc.com/2022/01/20/russian-central-bank-proposes-banning-cryptocurrencies-crypto-mining.html

If this has not passed and instead people are mining like crazy it means the oligarchs are looking for alternatives because people in Russia don't earn a lot of money. Not enough to buy a million USD worth of miners because that's what you need to start a serious business nowadays and there had to be a number of these serious operations set up last year for Russia to become a bitcoin mining giant. These are rich people with political connections that are mining there.

All of us experience tilt in one way or another. Don't blame yourself if you do, it's normal.

I do feel it too at times, especially when I feel like the game is working against me. Like I'm doing everything I can to play it well and it doesn't give me even a bit of slack.
I'm sure you all had those games in dice where you have 5 lost ones and 1 win and again 4 lost 1 won and you feel hopeless because you were expecting the game to stay at least close to 50% and you're getting 25% wins or less.

The only way to defeat it is to calm down and do something positive, eat something, watch a movie, go to bed and wake up the next day fresh and with a lot of energy.

You even need more than 6 months, especially if you're investing a lot of money and don't earn a lot from your job.

This is the problem many investors face and why poor people have a hard time making money.

If the fear of losing your investment is too big - you have too much invested. Decrease the investment, but stay in.
If you can't forget about the investment for at least a year, again, decrease your investment, you're too involved.
If you keep checking the price, constantly thinking of selling, you're too greedy, or too fearful. 

Keep in mind that you really have to try to lose money on the bitcoin market, but most people continue to do it.

Gox coins did not prevent a decline, it doesn't work like that. In fact, Gox caused many long time holders to dump because the news was so grim which really made the price tank. The biggest exchange collapsed - that was much bigger news than FTX - an exchange that was rated third or fourth but really did not have as much money and volume to be even at that spot.
Also Gox was providing liquidity and its collapse made every sold bitcoin count more when people begun to sell following the news. No other exchange was able to process their transactions without a large impact on the spot price that was at the time mostly made by data provided by Gox.

FTX event also wasn't a dump-stopper in any way. It caused the dumping. I kept saying that without it we wouldn't fall below 18000 in this bear market because the mood was really positive and the price was stable above 18k for 5 months and starting to recover above 20000.

I think it is and will stay as an alternative.

I've seen this theory repeated by a number of people and in short it described bitcoin as a currency you save in. It doesn't lose value, it's easy to carry with you, fast and cheap to transfer. You won't use it to buy coffee, although you already can do it and will be able to do it even faster, but because it's so valuable and scarce.

You don't roll out your gold investment contracts to buy a burger and in the same way you won't touch bitcoin unless it's time to buy apartment, send kids to school or buy a new car.

Binance is an example of too big to fail, but I don't think it's a scam like FTX. FTX was made to be a scam. They were siphoning money for years buying properties, donating to organizations, paying celebrities. You don't need a year to realize you're spending more than you're earning. They were crooks.

I think that Binance is legit although they could get hacked, they could get destroyed by regulators, they could make some wrong financial decisions and go bankrupt. Who knows what they'll do when shit hits the fan. Maybe CZ takes what's left and escapes like Do Kwon? Maybe he fakes his death like that guy from Quadriga? The fact that something isn't made to be a scam doesn't mean it won't become one.

If they go down the price will go down with them but bitcoin will survive like it survived Mt.Gox.
Binance is the biggest bitcoin exchange but it's doing less than 10% of global trades while Gox was doing 70%!

If we survived a fall of such big exchange Binance is not going to do anything to us, especially if we hold coins by ourselves instead of allowing others to do it for us.

It gives out a positive vibe. The AI is being honest here and trying to show positive and negative aspects. That's if AI can be honest

All in all, it recommends it because if the positives outweigh the negatives it means that you have higher chance of success than failure when putting your money in btc. Combine that with fiat money where you have a 100% chance of failure if you hold it because you know they will be printing again and inflation will be high. The times of 3% inflation are gone and not coming back.

If I were a beginner investor I'd still take this prediction as good and buy bitcoin.

WHat's the difference between inflationary and deflationary, because you might not completely understand the difference.


This is the problem, you look for deflationary features in a period of 2 years. It's not being done in relation to fiat currencies, so why try to do it with bitcoin? 2 years is nothing in the life of a currency.
Bitcoin is considered deflationary because when you take its total life cycle and calculate the average price gain, you'll see that every year it gained value. If you take a full cycle, so halving to halving, bitcoin went from something like 10 000 USD to 68 000 and is now at 30 000 so at the very least you've gained 300% in 4 years - deflation. At the same time your fiat money lost 5% a year on average so you're down 20% - inflation.

It's important to understand what degree of anonymity you want to maintain. Are we talking about black hat hacker anonymity? Is it something that a person who trades on dark net requires?
Are we talking about the normal anonymity of a typical user of this forum? Are we trying to hide our investment from the government? Are we evading taxes?

The above is very important because one person will only want to avoid tracking cookies and KYC exchanges while someone else will want to protect themselves from being hacked and I don't mean phishing but a person taking control of your computer.

For your basic needs a privacy browser like brave or firefox with privacy addon + a firewall and a VPN should be enough. You can go a step further and use TOR, but this is going to make things much slower due to redirecting.

You can take another step and use Linux, then you can take another step and keep all the important files on an external drive that you unplug when it's not being used. This greatly increases security as the hacker will not be able to download your stuff. They will never know when you decide to plug the safe drive, which makes it very difficult for them.

Another step would be to have an internal server and connect through it with important files being on another server that is in a local network, each with its own firewall, so that hackers don't know which computer is which and spend additional time attacking a client PC that can get disconnected from the network at any moment.

You do what you do, OP. I'd keep stacking if I were you, don't rush it, when you're able to take profit and limit your risk to minimum do it.
I feel calm and confident holding coins and stacking sats. If you don't, it may not be the investment for you.


It's funny how 4 months ago when people were asking about similar stuff the answers were much more bearish. At that time Op would get responses like:
Only invest if you can afford to lose
Wait for the bottom
Don't buy too much because it could go down again

Now people are again telling others to buy, stack, hodl and all that. Feels like 2019 all over again. Really I can tell you that Spring came and there was this fresh vibe in the air of people waking up from the 2018 bear market.

Not at all. I mean there are many countries where 1 bitcoin will allow you to live comfortably for soime time, but for that you'd have to define "comfort"
For one person living comfortably will mean having a roof over their heads, food in the fridge, a bottle of beer and a cable tv with a match on.
Another person will define comfort as having someone come to clean the house and massage them, a swimming pool in the back yard and cooked meals delivered 3 times a day.



In the US people are often defined as high net worth when they become millionaires, but that doesn't mean they're rich. Rich people can afford whatever they imagine, that's how I understand the term.
Russian oligarchs who own yachts and private jets are rich.
Someone owning 1 bitcoin isn't wealthy, nor rich, at least not yet.

Ideal existing or ideal imagined?

Ideal existing is of course bitcoin. It has its flaws but nobody has ever managed to make a better bitcoin. There are ingredients you have to mix in a pot to get a good cryptocurrency and they are transaction speed, transaction cost, privacy, total amount, centralization, mining algorithm, starting price per coin, and many other. You can't make all of these at max and get a great coin because you have to sacrifice something for something else. It would be great if bitcoin was faster and more anonymous, but that would probably decrease its acceptance and adoption rate.

It was to be expected. I was one of the people who kept saying that bitcoin is undervalue sub 20 000 and that not buying it at 18 or 19 thousand is a waste, but people were so scared by FTX that doom and gloom mood prevailed for months.
That said, I'll be surprised if we go past 35 000. 28-35 looks like a range we could stay for a while. The mood isn't bullish enough to take us back to the 40s.

I have to find Gareth Soloway who kept repeating on Kitco and other channels for the last year that the bottom isn't in and that he's waiting for 10k to buy. He's going to need a pack of tissues.

Was that your only money at the time? Most people would simply buy that item on sale using the rest of their cryptocurrency, or of they were really in need, fiat money.
Was the transaction so big and the item so expensive that you missed the purchase because of that little scam attempt, or were you rather more preoccupied and worried and forgot to buy that thing that you wanted?


That's also true in the fiat world where people send you fake paypal messages, or try to be the middle man for a transaction to steal the money before it's received by the seller.
First red flag is usually the thing you knew - the offer was too good to be true, but still went on with it.
That's how people fall into these traps.

That's true. People ignore this until they're hit in the face by the lack of it.

You could see this in real time in Canada during the protests a year ago. People had no need for decentralization and privacy, but one day their accounts got blocked and they couldn't buy a coffee or fuel for their tracks just because they happened to go against the government restrictions. People support privacy and decentralization on paper, when someone asks them for their opinion, but they like convenience. They want people top do everything for them and to take responsibility. That's what we are - lazy!

I've seen some predictions last week and many analysts (I think one the more popular ones was Michael van de Poppe) claimed that if we go towards 29k resistance again, we'll break it to the upside and this is exactly what happened. This proves that there's a very strong and significant pressure from the buyers and that no outside manipulation like the selling of coins by US government can change this.

It looks like the next step is 30 thousand.

I think that many people keep thinking what they should do and if this trend is going to continue. I advise you look at the moving averages. Usually when bitcoin goes above the 200 MA it changes the trend from bearish to bullish. For the first time in many months we're above the line. In fact, since July 2022. This is an important indicator that you should not ignore.

I'm a hodler. I used to trade...
to be honest, I used to trade alcoins in the ICO era, then invest in altcoins for longer term, mainly ETH and Cardano, then I became more of a bitcoin maximalist.

Now I'm a hodler. I don't trade anymore. I have some of the altcoins that I used to trade in 2019 but I got rid of most of it and turned it into bitcoin. I don't use many resources or tools to stay updated. This forum is usually enough, but I read some outlets or watch youtube channels like the daily hodl from time to time.

I think that holding is much better if you don't have time to monitor the price. If you're unemployed, by all means, turn to trading. If you have a job, don't undermine it by staying up at night watching bitcoin charts.

Time is great at convincing. The longer bitcoin exists the more people will change their minds.

You need decades to change people's way of thinking. Sometimes you need a whole new generation to grow knowing about bitcoin. You can't make 70 year old people who grew up using fiat to understand that fiat is the real joke, not bitcoin.

The easiest way to make it harder for criminals is to stop believing them and falling for their traps. They are stealing from people because people think they can get something for nothing.

We don't know what the mining cost is going to be in 2032. We also don't know what the dollar index will show at that exact time.

You understand we could have a recession, money printing madness, or even a world war by that time. It's really hard to predict what the future will bring.

I think a million dollars in 10 years is possible. Think of it this way. in just 5 years bitcoin went from being worth 50 cents to 1000 dollars. That's a 2000x increase. Bitcoin going from 20 000 to a million is only 50x increase and we have twice the time to reach it.