And reading from what Satoshi supposedly said in the image below, it's clear he too wasn't even sure of how far BTC would go or what the price would be, it was all like a gamble in the very beginning, quoting him now... it might make sense just to get some IN CASE it catches on The keyword is in case- in case means unsure. Example: you are not sure if it will rain, but you still go out with your umbrella just in case it rains. This could be the link to the mailing list, where the supposed quote was gotten from.
Firstly, you cannot base someone's believe on one quote, Satoshi has lots of quotes which shows his thoughts about bitcoin. Secondly, I would not say it shows uncertainty or lack of assurance. It could just be a way to pass the message. If I were introducing Bitcoin to others back then when little knowledge was known about it, that would likely be how I do it. Very few people then were going to share satoshi's enthusiasm and trust in the design, so best to make it easier for them to get on board with it.
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So far many wants to have bitcoin ditch out fiat not for the intent of having total control of their funds but for the sake of funding illegal activities online without any point of trace, regulations, monitoring or prevention.
This is an old and tired argument. Fiat has for many years before Bitcoin been a medium for illegal transaction and money laundering and the most popular one at that. Scammers would go after anything of value, from gold to gift cards, this does not mean they fund illegal activities. About the privacy argument; While Bitcoin is pseudo anonymous, it is very transparent and traceable, so it's possible to trace the trail of a transaction. More traceable than physical cash. But with the insecurity and economic crisis hitting the world from all angle is it still safe to agitate for a complete decentralized society ditching the fiat for bitcoin. The insecurity is an actual reason to want a decentralized network which gives the user control over their assets. This is accentuated by the poor fiscal policies being made by governments and banks, making banks very prone to inflation and devaluation.
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What "coin" are you talking about? When investing, you need to do your own research on what you plan to buy, this involved knowing how it works and how to secure it. Long-term investment involves holding for a couple of years or much longer, but this would only apply to assets which have actual value and which would be able to hold that value. Majority of coins in the crypto market now do not have actual value and would be valueless in two years or less, but some have held their value for 10+ years and is still growing. so how do one hold with zero worries?.
Do your research, Buy, (You can DCA) Store in a secure wallet Back up your seed phrase, Hodl.
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1. Can a service like a wallet whose code is closed source be decentralized?
The objective of being decentralized means that there is no central authority, anyone interested can see what's going on and contribute to it as well, creating a consensus. A closed source software cannot achieve these and users cannot verify the code. With a cryptocurrency which is closed source, you have to trust the devs and Connor verify instead. 2. Does this mean any service that is noncustodial regardless of whether the source code is open or closed = Decentralized?
Imo, No. It can be non custodial and still be centralized.
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if the incentives to run a mining gear don't exist -- the network becomes more prone to attacks, so bitcoin's security as it stands right now is closely related to its value, the more expensive it gets the more secured it becomes, hopefully, that will change one day when the majority of people start using and protecting bitcoin rather than just mining it for profit.
That's exactly what I was talking about in my reply. If there is not enough inventive to mine Bitcoins, then it creates a security risk as more people could be less motivated to switch on their rigs, resulting in less hashrate and security. The alternative is Bitcoin rises to make tx fees more expensive, enough to motivate people to actually invest in mining, but this eojmg affect the general users as transacting would be more expensive and holders would be demotivated to actually send bitcoins.
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There were no surprises from today's game. Manchester city and Liverpool were expected to win their matches and Manchester city's were expected to be more difficult as they were facing a much more tougher opponents that Liverpool.
The success of English teams in European competitions continued and both teams won tonight have one leg in the semif finals, if they can put up a similarly impressive performance in the 2nd leg of the tie.
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I've been thinking, if that had become the new development that everyone needed to run an IQ test before making a post, would it have made the forum better with more quality contents?
That would be an extreme and ironically ineffective measure. The merit system already functions as a motivation to encourage more users to make quality content as without quality content, one would not be able to rank up. The feature I'm looking forward to seeing is the newbie welcome message which has been discussed extensively on the forum. Hopefully it's added sooner or later h new forum software is launched with it added.
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Debruyne has given Manchester city the lead at the 70th minute, and it's nothing less than they deserve.
Manchester have dominated the match and that is reflected in the statistics so far. It's still a anyone's game though, as there's still about 120 minutes to go in the tie and Atletico Madrid have the quality to hurt any team at any time.
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The idea of doing your own research is to do your inquiry and not just take an advice cause a user said so. For example, if a YouTuber makes a video about a new trading strategy, and says you should not take their word as financial advice; It means you should research more on that strategy, and possibly try it out in demo mode to confirm that it works, that way you will see the result of the said strategy and if you choose to adopt it, it would be because you've seen it work and not cause someone said so. I understand the person might not want to be responsible if his advise goes south but now when you talk about doing a personal research, reading your article was a personal research for me
Do more personal research and verify the content rather than trusting the person's word.
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Scam? why would it be scam? Nobody forces you to send those tokens anywhere. And even if you send them, all you lose is probably the tx fee (and the worthless tokens).
-- It can become scam if you go to that website and it asks you to enter your wallet seed. Then yes, please report it as scam (although I would avoid visiting unnecessarily unknown websites, unless you know how to do that from a virtual machine or sandbox).
The fact that it's a take token, which creates a phishing website to mimick am original platform with the intent to steal visitors details already makes it a scan attempt. Scammers don't force anyone to fall victim, they lure them in with tempting offers. The issue is whether or not the offer of the free tokens would be enough to attract users to try and sell, in what situation they will be led on to the scam website. To protect oneself, any unsolicited offer, by email, wallet address, SMS or any other form should be ignored.
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This is a Bitcoin oriented forum and as such, it would be the overwhelming favourite when you ask s question like these, and it actually is the favourite for the majority of people as the first, most valuable and popular crypto, so people would have researched on it more.
For more diverse opinions, you can move this to altcoin discussion or create another create a new thread asking for which altcoin users know more about.
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N/B: not all Ponzi scheme are actually scam intended!
Except that they are. The idea that an investment can work without any actual means of cash flow but rather depending on investment funds is dubious and unsustainable; Any one who organizes a Ponzi scheme understand that it would be crashing at any time and would take steps to secure their loot earlier whole waiting for that. There's a limit to how long one can recycle money among investors before the whole charade crashes.
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And this film teaches me 2 things.
1: A centralized exchange is required, but it is also risky. 2: What happened to your bitcoin after your death, if you didn't share your account access with anyone? I have not seen the documentary yet, but I can say, centralized exchanges are not required, in fact they should be avoided if you can find an alternative to use in it's stead. A decentralized network does not need a centralized agency to work. If you do not share your account access and held them in a non custodian wallet, the bitcoins arr effectively lost. Everyone who holds an amount of Bitcoin (whether or not it's a significant amount now) should prepare for this possiblity. A custodian wallet can get access to those Bitcoins as they have custody.
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The topic is quite misleading. Many coins do not have any purpose or use case besides being a way for the devs to make money of "investors". Majority of cryotocurrencies in the market fall under this category and would not be around in a couple more years or shorter. Btc is expensive so it can just act as reserve asset to back up stable coins like usdt. Btc is more like limited supply sacred asset wich is perfect to be usdt backer.
Firstly, why would you want to back up a currency which is already (not really tho) backed by another currency? Bitcoin has different usecases depending on the holder's preference, and the market price does not affect the usage of Bitcoin.
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Are there any approximate metrics for how many of these have mandatory Know Your Customer integrated? I'm not aware if any such information is compiled already, but you can research on the individual manufacturers of Bitcoin ATMs and check up their privacy policy. From content I've followed on the forum, it appears majority of ATMs have a sort of private gateway which is needed to verify your identity, this could be a mobile number.
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That brings me to my question "imagine a future without cryptocurrency Bitcoin and a world without digital payments". ___how will the world look like? ___will financial transaction be stressful and restrict? ___will there be anything like Bitcointalk forum? ___will the rate of jobless increase or decrease? ___will the rate of scamming increase or decrease?
The world would pretty much be the same with or without Bitcoin, the affected would be the minority who are into Bitcoin and to those it would be a huge void as we have gotten used to having a reliable alternative from centralized Fiat. To the minority who use Bitcoin for it's qualities, yes. I assume yes. The community here is white ingenious and creative, I would assume there would be lot of brainstorming to fix what was lost. No significant changes, imo. No significant changes either.
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Now, many of usignorant folksare enthusiastic about cryptocurrency, but we don't seem to know where to start, what to learn, how to invest, the future of cryptocurrency and how to not be victims of scam. The basics is the best place to start. There are so many useful content about storage, security. I've shared these links about learning in the past, and it could be useful here too; This covers a good amount of Bitcoin basics: https://www.coindesk.com/learn/This discusses about wallets and security: https://cryptosec.info/wallets/ Investing would require some research, and you can use the forum for that. The most common advice is to; Only invest what you can afford to lose, Buy the dip and sell the spike, You don't lose, until you cut your losses, Not your keys, not your coins. Majority of cryptocurrencies do not really have a future. Many of the coins now would not be around 5-10 years from now. I would vouch on Bitcoin to b around for much longer however. To escape scams, treat every offer like a scam until proven otherwise.
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Those are quite impressive numbers, and many of us (actually all of us) can only imagine how Bitcoin would exist then and how people would interact with it, as we would not be there to witness it. The last Bitcoin will need more than 34 years to be mined. Yes, a single BTC will take 34 years to be mined! It will start around 2106 and take until 2140 until the last BTC is mined.
How much impact would mining rewards and halving have on the market then, when about 99% have already been mined and the remaining yet to be mined would not affect the market much. Of course, Miners will be rewarded by transaction fees by then.
This is also a topic with many uncertainties about how motivated miners would be at that time to invest in mining rigs and electricity.
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I thought Blockchain.com was a non-custodial web wallet. Can't you just take your seed phrase and import your wallet into another wallet, like Electrum?
You can, but I would consider that an unsafe way to secure your funds as you cannot verify how your keys and seed phrases were stored on their platform. It is much better to sweep the funds to a new wallet you've created on a non custodian, open source wallet software, like electrum. And of course, you verify the signature.
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Today i received a personal message from a user kamaljamalFirst red flag. Unsolicited messages which requires you to take an action; reset password, enter seed phrase etc, should be avoided completely. I think this is a new way of scammers to get hold on our passwords. Also only clicking the link ( as i did) would cause no harm if we do not enter the password?
This is a pretty old means of scamming and spreading malware's around. Just clicking on the link should not create any vulnerabilities, entering your password is the action that will send a feedback to the hackers and they can take control of your account.
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