At this point everyone knew that China really doesn't like crypto and sooner or later it will get completely banned. So this has been priced in for a long time already.

The most curious thing is whether it will make other countries from the China's sphere of influence do the same or not. My bet is that not really, crypto is really unimportant issue in the grand scheme of things, so the governments will keep ignoring it for now.

HODLing doesn't count as use for the purposes of comparing the relative occurrence of scams in crypto and fiat.  If you take two similar scenarios - like buying something on a p2p market with crypto or with fiat, the chance of getting scammed when you use crypto is higher, because there's no chargebacks and the receiver is pseudonymous.



Even these uses that you mention are mostly just about getting rich quick. This isn't going to last forever.

Nice to see that at least someone here reads the whole title, lol.

OP, did you even read the article that you linked? No one is banning crypto is a whole, that's not even on the table. Think twice before creating threads that spread panic and misinformation.

The scammers were smart enough to hack the site and dumb enough to only put some lame doubling scam. Imagine if they instead made a warning that a "critical bug" was found and that all users must download their wallet immediately or lose their funds. Likely a lot more people would have gotten their entire wallets swept.

That's a really poor argument, USD is used for a huge share of all transactions in the world, while crypto is not even used much by people who own it.

And altcoin ecosystem is indeed full of scams, so it wouldn't be a bad thing if regulators created some rules for exchanges so they would stop listing new scamcoins as they pop up.

But Warren goes far beyond that, she just hates crypto and dreams about it getting banned and she keeps inventing arguments from different angles to try to persuade the government to do so.

First, alts tend to be mainly traded,  directly or indirectly, against Bitcoin, so it's natural for them to follow Bitcoin's movement. And from a point of view of very simple fundamental analysis, if something is good for Bitcoin (hype, adoption, legalization) it is "good" for alts because it increases the chance of it happening to them, and same goes for negative events. Of course if you start thinking about it harder, it doesn't make sense, because alts and Bitcoin are fundamentally very different, but people on this market don't think hard.

Chainanalysis companies definitely run Electrum servers and servers for other SPV wallets, if you use a lightweight wallet there's a very high chance that those companies know all your addresses from those wallets and share/sell this information to other parties.

So you think that crypto is not popular because government think that it's used for scams? That's a very convoluted logic.

If government really believed that crypto encourages scams, they would just ban it. But also you don't need government's blessing to make crypto transactions at least p2p and for small businesses. So if the general population is not viewing crypto negatively, it shouldn't be stopping adoption.

You can't learn anything useful about trading on this forum, you will just get some random tips and that's it. There's not a lot of pro traders here, and they won't spend their time teaching a newbie from zero.

Learning from courses and other materials won't guarantee your success. It's a widely known fact that most short-term traders lose money, and those are people who spent a lot of times learning from supposedly high-quality materials.

Then you need to also remember how insanely rigged the crypto market is. Scammers create shitcoins, pump them by hiring shills and using their capital to drive the price up, then dump it all and move on to a new shitcoin.

Don't trade crypto, don't look for "good projects", it's all just gambling where the risk is higher than the gain. Buy Bitcoin and HODL.

I have a feeling that Satoshi wouldn't really approve of people making statues of him, he never sought fame and recognition, he decided to leave his creation to the community. The fact that he managed to maintain perfect anonymity is another reason to think that he wouldn't like to see any statues of him.

Bitcoin is not invulnerable to hacking, like with any software there are bugs that could lead to dangerous exploits. But Bitcoin is being developed by hundreds of very bright people, and the code is very carefully reviewed so the chance of there being a bug that would lead to practical attacks is very very low, but it does exist.

Bitcoin was not created to solve inequality. Crypto also can't really contribute to inequality because of how small it is. The market cap of all coins is $2 trillion, this is nothing compared to the sum of all assets in the world.

The only way crypto creates inequality is when poor people invest in altcoins and hodl them hoping to become rich quick, only to witness the price go down over a few years while the creators of an altcoin have pocketed millions and quietly disappeared.

There was a rumor that Bulgaria holds 200,000 BTC but it has never been proved. There was also a report how Ukrainian officials hold a lot of BTC, but it's not accurate and exaggerated.

A lot of countries hold Bitcoin in a sense that it was seized from criminals, but El Salvador is the first and only country that officially bought Bitcoin.

Yes, if you're buying from another person directly, there will always be a risk that you will receive some very directly tainted bitcoins, the risk may be very small, but it's there.

But with centralized exchange all the funds are pooled so the users won't have to deal with it, the authorities will contact the exchange. Unless the exchange is laundering money and will itself get shut down, like it happened to BTC-E.

He probably hopes that Bitcoin will be in a bull market for a lot more time and that people will view him positively because he introduced Bitcoin to them. This is a very risky move, because if the market will turn bearish, people will instead get angry. Imagine some poor family receiving a Bitcoin transfer from their relative working in the US, only to find 2 weeks later that the value dropped by 25%. They will blame Bitcoin and Bukele.

Shitcoins get attacked all the time for many reasons that don't apply to Bitcoin. They have very low PoW, they have poorly written and poorly tested code, they have complex design that creates a huge surface for bugs, while Bitcoin intentionally limited what you can do in transaction.

Bitcoin had bugs in the past, some of which were extremely severe, but luckily they were never abused on a large scale because they got patched very quickly.

Governments shouldn't use taxpayer's money to participate on a highly speculative and volatile market, that's like common sense.


I don't think he has any insider knowledge, he's just a president with too much power, and it's ironic because Bitcoin was created to resist this kind of power.

DAO, DeFi, smart contracts, world computer and lots of other decentralized buzzwords - people have been talking about them for years. Where are the practical results? Show me some real world examples of a decentralized blockchain thing replacing an "old" centralized design. There is none. All that Ethereum is used for is trading and gambling. And you can only trade crypto to crypto, you can't trade commodities or stocks on blockchain, so it's useless for the world.

There's so many posts on this board about "how to succeed" on this forum, and they always remain silent about their real goal - ranking up to join a signature campaign. But you should ask yourself, is spending many hours per day to try to earn enough merit and have good posting history and then earn a couple hundred of dollars of extra money per month really worth it? Why not instead learn programming or writing or photoshop or video editing and earn much more money for the rest of your life instead of relying on signature campaigns that sooner or later will vanish.

Come on, Bitcoin is not the first digital currency, and it's not even the best payment method if you're not worried about trusted third parties. Pretty much everyone in this world happily uses banks, especially now that banks have all their features on sites and apps so sending money is simple and fast.

What would I do without Bitcoin? Probably be a lot more poor than I am now. But who knows, maybe in Bitcoin's absence I would have focused on other things that would make me equally or more happy.