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2241  Alternate cryptocurrencies / Altcoin Discussion / Re: Is the US being too hard on crypto? on: October 24, 2022, 01:00:52 AM
Because the United States of America feared that bitcoin will be used globally and their currency, the USD, which is the most dominant currency of all time won't be the same anymore when Bitcoin will be much more established. They can put pressure and sanctions they want but they can't stop Bitcoin, dollar is getting weaker as the year goes by.

I wouldn't say the "Dollar is getting weaker" since the US is still the most powerful economic force in the world. The USD's position as the global reserve currency has been untouched even with the negative effects of inflation. We now have a stronger USD compared to the EUR and other leading national currencies. What the government is doing is trying to prevent Bitcoin from replacing the Dollar by regulating it as much as possible. If it doesn't act hard on Bitcoin, then more people will abandon the USD in favor of BTC. At least, the US hasn't banned crypto yet (unlike China). As long as the US is able to tax crypto successfully, we can be sure it won't be going anywhere soon. Just my thoughts Grin
2242  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Bitcoin, Dogecoin Gain After Musk's Tweets, But Will There Be Another Bull Run? on: October 24, 2022, 12:56:05 AM
Dogecoin is a scam? I can tell you it has been around for almost 10 years and it even outlived a lot of other top coins. IOTA? I remember correctly it was also a potentially evaluated coin and now I don't see anyone mentioning it anymore, is it still alive? What project is MAXX finance, what do you say it will be better than doge, a new coin and such a fishy smell, how can you compare with doge?

I can tell you Dogecoin is NOT a scam. It's been around the crypto space for a pretty long time now. What I can tell you is that Dogecoin is not meant to be taken seriously because of the large number of coins in circulation. Even developers said so. I'd say DOGE has hold onto itself pretty well, even though other coins have died quickly. It may not retain its price for long, but it's certainly a fun little coin you can use for experimental purposes.

For some reason, DOGE has attracted the likes of Elon Musk and other popular figures (eg: Mark Cuban) in the mainstream world. Especially Mr. Musk who's been a staunch proponent of the "meme" coin lately. Anything he says could positively affect DOGE's price, so I wouldn't be surprised if the coin "pumps" after the next bull run. As long as you don't put all of your life savings into crypto, there should be nothing to worry about. Just my opinion Smiley
2243  Alternate cryptocurrencies / Altcoin Discussion / Re: Ethereum POW - ETHW on: October 24, 2022, 12:53:34 AM
I am aware even before the Merge that there will probably be an Ethereum hard fork that would continue with its Proof of Work system. But what I'm more interested about is whether this ETHW will grow big in the future or not. I am also aware that there are those who are saying that ETHW is unnecessary and redundant because Ethereum Classic (ETC) is already the PoW version of Ethereum. So why should there be another PoW Ethereum?

So will this ETHW that is currently valued at $6 grow big in the future?

Exactly. We didn't need another PoW fork of Ethereum since we've already had both ETC and Expanse. In fact, Expanse was the first ETH fork that started it all. Ethereum Classic was created at a later time when most community members were dissatisfied with ETH's decision to roll back the Blockchain because of the DAO hack. As I've said many times already, ETHW was only created as a means to enrich both the developers and miners. It has no future simply because it has no substance to it.

Why would developers want to build on a PoW version of Ethereum that's redundant? There are far better options on the market with innovative features and a solid foundation built upon them. No one knows what the future holds for crypto, so either ETHW dies or keeps "pumping" for a little while. Just my thoughts Grin
2244  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Dogecoin to be used for micropayments on Twitter? on: October 21, 2022, 01:39:32 AM
There is a possibility.
Possibility that DOGE pump but I don't see it reaching to a dollar knowing that one feature of the coin is it has an unlimited amount of supply. TBH it's hard and I don't expect it to go 1$ but maybe with the help of Elon and Twitter, the impossible might be possible.

The only way DOGE will reach $1 is if Elon Musk "pumps" the price with its acquisition of Twitter. Bitcoin would also need to reach a new All-time-high in price for DOGE to retain its prices for the long term. Don't get me wrong, but Dogecoin is a pretty good cryptocurrency for micropayments. It's perfectly fine just the way it is. Sometimes I think a high-priced DOGE would limit the cryptocurrency's ability to be used by a wider audience. The unlimited supply of Dogecoin, tells us developers created it to be used as a currency (not as a store of value like Bitcoin). Crypto land has come up with its surprises, so who knows if DOGE holders get lucky someday? Just my thoughts Grin
2245  Alternate cryptocurrencies / Altcoin Discussion / Re: Can Solana be the next Ethereum??? on: October 21, 2022, 01:32:58 AM
Solana have already made itself one among the strong project in the market securing top position. Solana founder Anatoly Yakovenko have come forward about the ethereum killer narrative. Solana is not actually trying to kill Ethereum. The creators of Solana try to develop it in direct competence and not in the event of killing ethereum. As ethereum is the market leader, Solana make comparisons their level with that of ethereum which keeps them progressive.

Solana Founder Says It Is Not An ‘Ethereum Killer’

At least the founder didn't lie by saying "Solana is not an Ethereum killer". It's obvious that's the case with this project after so many network outages. There's centralization at every level, so Solana and most other "competing chains" will remain below ETH for a long time. People should understand that it's not about speed or cost-efficiency, but rather about decentralization and censorship-resistance. Why would I want to pay or wait less per transaction if the blockchain I'm using is completely unstable?

For this and many other reasons, I think Ethereum's place won't change for the foreseeable future. At least, there are many alternatives to choose from. As long as decentralization wins, nothing else matters. Just my opinion Smiley
2246  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Bitcoin, Dogecoin Gain After Musk's Tweets, But Will There Be Another Bull Run? on: October 21, 2022, 01:21:17 AM
The discussion started more than an year ago. Considering those days the market of dogecoin can slowly dropped. Further we haven't experienced any bull market out of Elon Musk. Dogecoin is one among the old coin available in the market, and it has got its own market.

To stay on the top even before the involvement of Elon Musk isn't a simple thing. It is highly potential and that's the reason it was able to stand long years. Anymore the chance of dogecoin gaining out of Elon Musk tweets were very narrow. Maybe addition of dogecoin to Twitter after its acquisition might have impact over the market.

2021 was a different time where most cryptocurrencies turned bullish. It all began with Dogecoin, and it ended with zillions of "meme" coins with no real purpose/utility in the mainstream world. All it took was one man (Elon Musk) to tweet positively about Dogecoin, for prices to rise all the way to the moon. Right now, things are quiet because of the deteriorating global economy. There's not much price action among Bitcoin and other leading cryptocurrencies on the market (including Dogecoin). Investors are focused on other important things in life, than crypto/Blockchain tech. We should take this opportunity to buy as much coins as we can before everything goes back up again.

I can't say if DOGE will experience another bull run because it's a "meme" coin. But who knows? If it does "explode", it's likely because of Bitcoin reaching a new ATH in price. There are rumors Elon Musk will be integrating DOGE to Twitter after the acquisition is complete. Maybe that could further "pump" the cryptocurrency's price down the road? Crypto land often behaves in many strange and bizarre ways, so anything can happen. Just my thoughts Grin
2247  Alternate cryptocurrencies / Altcoin Discussion / Re: Tornado Cash sanctions as the beginning of the end of privacy coins? on: October 21, 2022, 01:15:30 AM
Mixers and privacy coins don't provide same service and same experience. They give different levels of privacy.

Governments are stricter with mixers and gamblers but they are more easily managed privacy coins. If I don't have illegal capital source and use it to buy cryptocurrency for moneey laundering, I will not choose mixers or privacy coins. The longer I use it, the more risk I will get with governments.

Some exchanges and platforms have their public or internal criteria to mark your account if they detect suspicious things from your deposits. I also don't want to get my account being frozen or suspended for investigation.

Most privacy coins don't have privacy by default, so governments are much softer towards them than it's the case with mixers. But you can bet that they will target privacy coins that enforce privacy at the protocol level. Monero would be considered one of those privacy coins whose blockchain network enforces anonymity in every way. It's the reason why we've seen so many exchanges de-list XMR like there's no tomorrow. They're afraid governments will come after them because of money laundering and/or tax evasion concerns.

KYC/AML is starting to be the norm on the crypto industry, so I wouldn't be surprised if governments continue to fight privacy with an "iron fist". The Blender and Tornado.Cash mixers were only the beginning. Just wait until crypto becomes even more popular than before for things to get worse. At least, we know privacy won't be going anywhere. As long as decentralization prevails, there should be nothing to worry about. Just my opinion Smiley
2248  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Is Mining still worth it? on: October 21, 2022, 01:10:48 AM
The recent change ETH went through in which it transformed from a POW coin to a POS one also has a lot to do with this, miners which were mining the coin now need to find other coins to mine and until a good amount of them give up it will remain unprofitable to do so, if you are only looking to make some quick money then this is not something I will recommend to you, but if you were willing to operate for a loss and your electricity costs are low you could mine some coins, hold them and then sell them during the next bull run.

Mining is only worth it if electricity costs are cheap in your country. Otherwise, not. Many cryptocurrencies are turning to PoS because of "high-energy concerns". After all, governments are pushing their new climate agenda (especially the US). If this keeps up, there may be no coins left to mine except Bitcoin. That means less decentralization in the industry within the not-so-distant future.

I'd say if you're able to afford energy costs, buying and upgrading mining equipment, and doing regular maintenance on your equipment, then go for mining without thinking it twice. The most important thing is that you make a return on your investment no matter if you're mining or staking cryptocurrencies. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about. Just my thoughts Grin
2249  Other / Archival / Re: Why has bitcoin adoption failed in El Salvador? on: October 20, 2022, 01:41:03 AM
We cannot tell everyone that El Salvador has failed yet in their plans for bitcoin's adoption in their country. However, what we are witnessing is that it is very difficult to adopt as a medium of exchange because of volatility.

I am aware that it is arguable. But Bukele's excuse of not losing $50 million because he did not sell is a funny one because it appears he did with where the market price presently is. This is also the same excuse we say when we hold an asset below the purchase price. He has become one of us heheheheh.

Bukele's government has been buying Bitcoin regardless of its price in Fiat terms. Not a single coin has been sold so far, so El Salvador hasn't lost anything yet. I'd say this is a good strategy, because it could make the Latin-American country one of the richest (if not the richest) ones in the world after the crypto market turns bullish again. Bitcoin has been shown to reach a new All-time-high in price after every halving event, so it's likely the same will happen by 2024.

If Bitcoin becomes a huge success in El Salvador, then other countries won't think twice by making Bitcoin legal tender. Who knows if there's a very bright future ahead for long-time Bitcoin "hodlers" like us? Just my thoughts Grin
2250  Bitcoin / Bitcoin Discussion / Re: Are new bitcoin users early or late to the party? on: October 20, 2022, 01:37:08 AM
There's already two countries in which Bitcoin is legal tender, El Salvador and Central African Republic.

This seems like a bit of a race against countries making CBDCs legal tender, like Bahama's Sand Dollar, Jamaica's Jam-Dex, and Nigeria's eNaira.

Yes. But the vast majority of the world's countries are still skeptical about Bitcoin (especially with their high energy usage concerns). Bitcoin's price is volatile anyways, so not everyone will find it an attractive alternative to popular Fiat currencies such as the US Dollar or the Euro. What we've seen so far is that developing countries are adopting Bitcoin to try to save their economies. Don't expect developed countries like the US and those in the EU bloc to do the same since their economies are doing well (compared to developing countries, of course). I'd say we're still early to the party because Bitcoin hasn't reached the masses yet.

There are a lot of people who haven't heard about or used Bitcoin before in their lives. Maybe CBDCs will give Bitcoin the "publicity" it needs to become adopted by almost everyone worldwide? The blockchain can already scale to millions of users with its Layer-Two scaling solution called "The Lightning Network". Volatility would no longer be an issue if people start paying for goods and services directly in Bitcoin regardless of its Fiat value. Governments are slowly recognizing Bitcoin as a new asset class, so it should only be a matter of time before the pioneer cryptocurrency reaches the entire world. Who knows if we become the next Bitcoin millionaires someday? Just my opinion Smiley
2251  Alternate cryptocurrencies / Speculation (Altcoins) / Re: ETC to $100 soon? on: October 20, 2022, 01:31:03 AM
At least this coin is a bit better compared with ethw. ETC may reach what you have been aiming for but it's gonna take a lot of time to make it happen. Bitcoin will not increase until the bullish trend will come. it's better to watch the market closely and see what's gonna happen with it.
I do believe if bullish trend may make this coin pumped so hard as etc is far popular compared with ethw. Miners were behind these coins. I personally didn't care so much with these coins.

ETC may be better than ETHW, but it's still a "shitcoin". There aren't any developers (as far as I'm aware) building on top of the ETC blockchain despite being 6 years old. I guess that's why ETC hasn't crossed the "triple digits". Don't expect to see ETHW go all the way to the moon, since it's an inferior coin with no real purpose/utility in the mainstream world.

For what I know, most of the cryptocurrencies on the market are purely speculative. No one knows what will happen in the future, so I'd suggest you diversify your investment just to be safe. Just my thoughts Grin
2252  Bitcoin / Bitcoin Discussion / Re: 2024 Bitcoin Halving - What are Your Expectations!!! on: October 20, 2022, 01:23:57 AM
It will be like other halving: because less Bitcoins are being generated, its value will increase.

However, I do not know if the value will increase as much as in the past since we will probably in a cycle of rising interest rates.

Technically, Bitcoin's price should increase with every block reward halving. But if the global economy is in a recession, you cannot expect things to get better anytime soon. I don't think central banks will keep rising interest rates forever, especially when currencies aren't meant to be deflationary. This is only a temporary measure to help control inflation as a result of the COVID-19 pandemic and the Russia-Ukraine war. After this is over, we can expect Bitcoin to reach a new All-time-high in price.

If you're smart enough, you'd buy as much Bitcoin as you can while the market is bearish. By taking advantage of this opportunity, you will increase your chance of becoming a wealthy person within the not-so-distant future. Who knows what 2024 holds for Bitcoin and other cryptocurrencies on the market? Just my opinion Smiley
2253  Alternate cryptocurrencies / Altcoin Discussion / Re: Is the US being too hard on crypto? on: October 20, 2022, 01:17:39 AM
That's also the reason why some countries are restricting cryptocurrency. The number of scam cases related to crypto is continuously rising so they really have to implement regulations to control it. It's just hard on crypto users' part because they're deeply affected by what scammers are doing. However, the implementation of a law controlling the number of scam cases will still benefit us in the long run. They want to prioritize the security and safety of investors' funds.

While I admit the government is trying to limit criminal activity in the industry, sometimes it goes too far by adopting strict regulations which makes an average person's life harder. There needs to be some sort of flexibility for crypto/Blockchain tech to grow without limitations. Countries like China and Russia (especially China) have completely banned crypto from widespread use, so maybe the US is not too hard after all. There's a long road ahead before governments devise proper regulations against the ever-improving crypto/Blockchain space. After all, it's only been 13 years since the first cryptocurrency (Bitcoin) was launched to the public.

There are a lot of people who still don't know what crypto is, so I'd say this is just the mere beginning. Who knows if the US softens its stance towards crypto someday? Just my thoughts Grin
2254  Alternate cryptocurrencies / Altcoin Discussion / Re: Ethereum POW - ETHW on: October 19, 2022, 12:55:09 AM
ETHW does need some developers who will start looking into the codes and bridge the ERC tokens to ETHW. If this isn't happening, the fork will just end just like ETC.

Most forks ended the same way with fewer people in the community. At the end of the day, the winning force still is ETH for on top of it are thousands of projects.

I don't think developers will join ETHW simply because they have no reason to. The PoS ETH chain has the biggest userbase in the crypto/Blockchain space, so developers will "stick" onto it for a little while. PoW-based forks of ETH are just created as a means to enrich miners and their "hodlers". But they really have no substance behind them. Just like Bitcoin Cash, Bitcoin SV, and eCash (formerly known as Bitcoin Cash ABC) turned out to be a failure, the same will happen with ETHW within the not-so-distant future.

There are better options out there on the market with active development and innovative features. Instead of choosing ETW, you can choose ETC which is the original ETH chain going strong since 2016. It hasn't attracted developers into its platform yet, but it's a tried-and-tested blockchain network that's built to last. Ultimately, the market will decide which coin will stay and which will fade away into oblivion. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about. Just my thoughts Grin
2255  Alternate cryptocurrencies / Altcoin Discussion / Re: How to Generate Profit in this bear time? on: October 19, 2022, 12:48:34 AM
With bull market the price used to drop after fluctuation happening within specific limits. With the bear market the scenario is exactly different. The increase in price takes place after the fluctuation happening within limits. So, whether the market is bullish or bearish there is price volatility along with increasing and decreasing price. We should have the ability to make the profit out of the difference.

You can always make money within the "ups and downs" in price. But not everyone is able to do this successfully, as it requires patience and some discipline. Only professional traders will be able to profit even during a bear market. For the novice trader or newcomer into crypto, it's recommended to hold off until the dust settles. Usually you'd get to see a bullish market after a prolonged bear market.

If you bought cryptocurrencies when they were at their lowest price, you'll be able to reap huge rewards once everything goes back up again. Bitcoin is considered to be the main trigger of the crypto market, so I'd suggest anyone to invest in it heavily to obtain great results in the long run. Just my opinion Smiley
2256  Alternate cryptocurrencies / Altcoin Discussion / Re: Will "De-Fi" platforms be subject to KYC/AML laws in the future? on: October 19, 2022, 12:40:46 AM
But why bother using those services which are supposedly decentralized only to eventually be forced to accept to identify yourself when you can use centralized exchanges which offer a better service, have better reputation, have been around for longer and which have a higher volume? The main reason to use a decentralized exchange should be because you care about your privacy, and if it is not going to be respected anyway then there is not a single reason to use them at all.

Exactly. There will be no point in using "De-Fi" if platforms are going to require you to verify your ID. The whole point of decentralization is to remove the middleman from the system. Don't tell me that a system requiring ID verification won't have a middleman behind it. There has to be someone behind it to help provide governments with the information they need. Thus, "De-Fi" platforms complying with KYC/AML laws would effectively turn centralized by design.

That's what you get when crypto becomes extremely popular in the mainstream world. Regulators would want a piece of the pie by limiting crypto's potential as much as possible. It would be up to us whenever we will allow the government to interfere in everything related to crypto or not. If we oppose such actions, you can rest assured the government will leave crypto alone. But most people don't care, so governments will continue to do what they're doing until they destroy crypto/Blockchain tech for good. No one knows what will be the governments' next move, so we can only hope for the best. Just my thoughts Grin
2257  Economy / Economics / Re: The impact of Russian and Ukrain war on world economy on: October 19, 2022, 12:36:25 AM
The war has caused huge damage in both countries even in their neighboring countries and one of its worst effects is the inflation crisis which is being experienced by most individuals nowadays. If there will be more wars that would occur especially between big countries, there will surely be economic chaos. We still don't know when the current war between Russia and Ukraine will come to an end but I hope it won't be too late for them to recover again.

Considering that Putin won't back down, it doesn't seem that the war will come to an end soon. Allied countries will continue to send aid to Ukraine, greatly prolonging the war. To make matters worse, China is on the brink of invading its neighbor Taiwan. If the China-Taiwan war takes effect while Russia still hasn't finished with Ukraine, then the global economy will suffer badly. I just hope things get back to normal so that we can have a better future.

Rising geopolitical tensions, and COVID-19 variants are tearing the world apart. You can never expect inflation to settle this way. The future is widely unpredictable, so we can only hope for the best. Just my opinion Smiley
2258  Bitcoin / Bitcoin Discussion / Re: Will digital dollar be a threat to bitcoin? on: October 19, 2022, 12:28:52 AM
Well, many CBDCs are already expected to launch. They are coming and it is normal because the world is turning digital. The digital dollar of the United States will be successful of course. But is this a threat to bitcoin? It is simple, the digital dollar is the same fiat inflationary centralized money while bitcoin is secure and decentralized. Maybe the question should be made the opposite because bitcoin is the real threat to this old centralized fiat system.

You can say that again. Bitcoin is really the threat of the digital dollar. Not the other way around. Governments (including the US) are afraid Bitcoin will take over the global economy, urging them to launch CBDCs of their own before they're left behind in the dust. I'd say they will succeed with the launch of the new digital cash system, but they will be unable to "defeat" Bitcoin because of its decentralized and censorship-resistant design.

In fact, I think CBDCs will be beneficial towards Bitcoin because they will increase awareness of digital currencies all around the world. People who haven't heard of or used crypto before, will get into Bitcoin when they hear paper money will be phased out of existence for good. Now the question would be whenever the USD will be able to retain its place as the reserve currency of the world right after it becomes a CBDC or fall all the way down the drain. If the US quickly launches its own CBDC system, then it's likely the US Dollar's position will remain unchanged. But be aware that China has already been the pioneer in CBDCs, launching the "Digital Yuan" before anyone else. It's a highly-competitive world out there, but at least we can be sure Bitcoin won't be going anywhere soon. Just my thoughts Grin
2259  Bitcoin / Bitcoin Discussion / Re: Bitcoin hash rate hits new all-time high! on: October 18, 2022, 01:22:19 AM
Last October 01, 2022 Bitcoin hash rate hits a new all-time high of around 282.17M TH/s hash rate. (Source)
Even though the price of Bitcoin is dumping, the hash rate is still growing and creating a new all-time high. For me, this is fundamentally good news for Bitcoin.

I am curious that maybe there are some miners who switch from Ethereum to Bitcoin because Ethereum now is on POS, so this could be a factor too.

This is one of the answer for those people telling that "Bitcoin is dead"


Ironically, Bitcoin's mining hashrate is increasing at a time where energy costs are rising like crazy. That's good because it means miners (and people as a whole) have faith on Bitcoin. The more the hashrate increases, the stronger the blockchain will become. I think Ethereum's switch from PoW to PoS have contributed to the cause, as miners search for alternatives to avoid losing their business. Those people saying "Bitcoin is dead" really don't know what they're talking about. They're only saying this Bitcoin because has fallen in price from its ATH of over $65k per coin.

It's not price that counts, but rather the cryptocurrency's usefulness and level of mainstream adoption. Bitcoin is alive and healthy as ever at a time where Fiat is on the brink of collapse. It's still the best-performing asset in the world, despite the recent downturn in price. Who knows if we'll start to see more people relying on Bitcoin as a safe-haven from the deteriorating global economy? Just my thoughts Grin
2260  Bitcoin / Bitcoin Discussion / Re: El Salvador will be the richest country in the world in 8 years? on: October 18, 2022, 01:19:07 AM
I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

look at the post here https://boletimbitcoin.com/2022/05/19/com-o-bitcoin-el-salvador-sera-o-pais-mais-rico-do-mundo-em-8-anos/

If El Salvador keeps investing in Bitcoin without selling, then I don't see why it can't become a rich country within the next 8 years. I wouldn't say "richest" because other countries have invested into Bitcoin as well (even though they haven't accepted it as legal tender yet). While it's possible El Salvador will turn from a developing country to a developed country, everything will depend if Nayib Bukele stays in power and the government spends its money wisely. If things go wrong, then don't expect to see any improvement in the Latin American country anytime soon. Let's see what will happen within the next bull market run. Just my opinion Smiley
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