This will likely create caution for other trying to follow in El Salvadors footsteps. This might have devastating implications for crypto however. Looking back in time people still bring out Chernobyl to this day to justify not using nuclear energy.
I think as long as Bitcoin is not causing harm to the economy, which it shouldn't, people in the future shouldn't be too opposed to making Bitcoin a legal tender, like in your analogy with nuclear energy. But people might just say that it's not worth the effort if the example of El Salvador will show a very low adoption. I think Bitcoin's success doesn't rely and shouldn't rely on governments supporting it. That would obviously be against Bitcoin's purpose. |
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Because crypto can be more easily stolen from you, while stocks/fiat money sit in some digital custodial account that require a lot of extra steps for full withdrawal. And also crypto is pseudonymous, so robbers will have easier time covering their tracks.
Another reason is that people don't want outsiders to get interested in crypto and then be responsible for all the decision that this person makes.
Some people believe that crypto is a scam or a bubble, so some don't want to admit trading it out of fear of being shamed.
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That happiness can quickly turn into something very bad..... I made my own rule, "Never include family and friends in business" ....and you will be a happy person. I have learned this lesson the hard way, when some of my family insisted that I "help" them to buy Crypto when the price was high. ($50 000)
And OP just added a lot of shitcoins to their portfolio, there's a very high chance that in 2-3 years the shitcoins will be in red. It's really not wise to give investment advice to relatives, because like you said, it will very likely ruin your relationship if investment will take a hit or something else happens (exchange hack, lost private keys, malware, etc.). This is just one more reason to keep your mouth shut about crypto even with relatives. |
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I think pretty much anyone who installed a Bitcoin wallet and conducted a few transactions understands that unconfirmed transactions can't be trusted, so no business will provide their end of the deal until the payment has been confirmed. Some will even require a large amount of confirmations like 50 or 100 if the transaction is extremely valuable.
For small payments we have Lightning Network, so it all won't be a problem.
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I feel that vitalik created blockchain 2.0
When someone says they created blockchain 2.0, banking 4.0, finance 3.0 and so on, it's a sure thing that they are scammers who just spew technobabble to lure clueless people into investing in their shitcoins. I'm not sure if Vitalik himself ever claimed that he created blockchain 2.0, but if he did, it's incredibly dishonest of him. "blockchain 2.0" and altcoins are irrelevant, each day they move closer and closer to centralization, with Bitcoin being the only coin that is true to the original goals. Compared Vitalik to Satoshi is completely incorrect and insulting. |
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Bitcoin is still contributing only a tiny fraction of global e-waste (which is 50 million tons per year). Yes, it's bad that Bitcoin does that but the world can afford it. In the future there will be better technologies for recycling old electronics automatically, so it will be less of a problem. And maybe ASICs will hit a performance limit and will have much longer lifespans.
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Well, agree! We are witnessing an experiment that has never happened in the history of mankind. A country introduces a currency that cannot be multiplied at will, over which it has no control, and which can be transferred worldwide in minutes without the need of an indimediary instance. As I wrote in an earlier post: We should wait 1-2 years. If El Salvador will make good experience with it, then this would be a blueprint for other countries that have similar conditions as El Salvador.
My biggest concern is that the people of El Salvador will simply ignore Bitcoin and it will be used an example that it's pointless to make laws that support it. Maybe adopting Bitcoin as a legal tender happened too early, Lightning Network is not officially released and the price is still pretty volatile. |
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Astounded by the amazing success of Bitcoin implementation in El Salvador, anti-social elements sponsored by the USD lobby have started vandalizing and destroying the Bitcoin ATMs installed by the government.
If there really was some USD lobby, they wouldn't order someone to destroy Bitcoin ATMs, they would just target all the centralized exchanges or imposed sanctions or other hard measures on El Salvador. These people are against Bitcoin because they are against Bukele, they accuse him of corruption and believe that Bitcoin will be used for his corrupt deeds. |
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I'm also wondering why this particular anti-privacy law is being focused on while there are thousands of them, not just in US but all around the world! Governments being anti-privacy is nothing new, that is the whole reason for NSA and similar institutions to exist elsewhere in the world.
And Satoshi didn't focus on privacy in his whitepaper, he was focusing on avoiding centralized trusted third parties. I think people are overthinking the reasons why Satoshi created Bitcoin, it's no secret that cypherpunks tried to create decentralized digital currency for many years, Bitcoin is the logical conclusion build on top of failures of its predecessors. |
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Some scammers choose Bitcoin because it's easier to hide your tracks with it. But most scammers choose fiat because it's more popular, so you can't really say that Bitcoin encourages scammers or opens ways for new kinds of scams.
In this case the scammers pretended that they run some sort of ad watching microearning company, but the fact that they demanded a payment is an immediate red flag. When someone offers you work, they should be paying you, not the vice versa. It's a quite common scam even outside Bitcoin.
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1. Position is the most important thing
2. Always set the profit/loss ratio above 1:1 (2:1, 3:1)
3. Always set stop loss below 10% of the account
4. Do not borrow, deposit too large (under 25X is safe)
5. Do not leave orders overnight
6. Adjust emotions when entering orders. If you lose, remove the other bets
What is the point of this post? Do you really think you can take any person from the streets, give them this advice and they will start making money with trading? There are lots of people who read multiple books about trading, read articles, blogs, watch videos, take courses and they still lose money with trading. People who try to get rich quick tend to get poor quick when it comes to crypto. |
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How about we see the macroeconomic results of El Salvador's decision first, and then make conclusions about it. I see so many people already celebrate it as a great success, and while the fact that first country in the world has made Bitcoin a legal tender is remarkable, we don't know yet if the effect on their economy will be positive or negative or if it even be noticeable at all.
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Think about the state of the world 25 years ago, year 1996. Internet was in very early days, it was too expensive for most people and insanely slow. There were no big services like Youtube or Facebook that everyone used. There was nothing even close to smartphones. Could people of those times predict were will we be now? I'm sure no. Their answers would either underestimate the technology or over estimate it (remember how Back to the Future portrayed flying cars in 2020s?).
So what's the point about speculating about the future if our predictions have no chance of being accurate. Things change and it's important to react to changes as they happen, not try to plan for decades ahead.
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While your argument is true, as things are now, bitcoin users are highly dependent on regulations. You can declare yourself to be "decentralised", but you would still need to abide by the regulations of the place you live in. Having a place where like-minded people share your values may help that vision become true.
The idea is to make sure that those regulations are aligned with your values and ideas. I can tell that many people on this forum are unhappy about the treatment that bitcoin has in term of taxes and restriction. Those that have a significant amount may be interested in living in a crypto friendly jurisdiction and that is simply not possible in many countries. These people could potentially benefit from creating their own jurisdiction, based on the principles of self-sovereignty, crypto friendliness,...
Every group of people with radical ideas dreams about establishing their small country of like-minded citizens, but that's not going to work. It's very-very expensive to try to create a country from scratch, and most of the land in this world already belongs to some governments who would simply not allow creation of new states. If Bitcoin is destined to become popular, then we'll simply have more countries follow the footsteps of El Salvador. |
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I guess you've used Google's search engine before and noticed how accurate it is.. people "choose" big sites (e.g. Google over DuckDuckGo) because they provide relevant results post-tracking. They collect the needed info about you and then they provide you the perfect results.. which now includes even shopping suggestions that coincidentally are products from your favorite shops. They took over by implementing anti-privacy scripts and features everywhere to make you addicted to their websites by manipulation.
So they manipulated people by providing them what they want? That's called free market. Taking over means using force, but these companies didn't force smaller sites to shut down, they didn't threaten them, they just won the competition. I blame people for giving away their privacy, not companies that simply try to act in the most optimal way for gaining profit while obeying the law. |
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KYC will be demanded by centralized entities regardless if network security is overshoot, or undershoot. The point of debating for smaller blocks is to overshoot network security, to keep the network more decentralized, and to let the network scale out.
Right now the network is a decentralized entity. But in big block scenario it's a centralized entity that can be regulated, which means Bitcoin itself gets regulated. Today we have some tiny percent of hasing power that wants to enforce some government blacklists, but in case of centralized network it can easily be more than 50%. |
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Newbie account talking about knowledge>merit, which looks to me like yet another merit fishing attempt.
Dunno, maybe I am wrong and I am just too paranoid, but I smell BS here.
Yes, it's already so tiring to see the same repetitive posts from newbies that praise this forum as some grand temple of knowledge when really it's just an online forum about Bitcoin. I wouldn't recommend anyone to start their Bitcoin journey only from here, there's a lot of structured educational materials about Bitcoin, while here you will mostly find some personal opinions. And all these questions that newbies keep asking here every day like "what happens when the last bitcoin is mined" can so easily be googled, yet people find it easier to create a topic on this forum. It's good to see that the members of this forum can see through the merit baiting. |
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Bitcointalk can be called as crypto wikipedia? A hub where A to Z information can be found on crypto. A market place to earn crypto as well? Bitcointalk has been the first online site / platform for me to earn money online.
Bitcointalk is a forum, not an encyclopedia. Encyclopedia has articles, forum has topics that can have any content in them and there can be many topics on the same subject. There already is a Bitcoin wiki and people should use it first before trying to find answers here. This forum is not a place of knowledge, it's more of a place of opinions. There are some good posts about the technical nature of Bitcoin, but the majority of the posts made here are personal opinions about Bitcoin, and very often they are presented without any sort of reasoning and justifications. |
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Gold is not stable, its price is decided on the free market and changes through the year. It's simply not as volatile as Bitcoin.
Gold is not regulated, gold markets and companies that deal with gold are. This is already happening with Bitcoin too.
Gold is decentralized, you can find it in many places on Earth or even outside of Earth. And it's a physical thing so you yourself can control it.
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The Internet will never go back to its good old days. But I can't agree with the idea that corporations took something over. Internet went mainstream and most people choose to spend their time on the big sites instead of looking for smaller sites. This doesn't mean that you are not allowed to visit any site you want or that you can't host any site you want. There are people who still use IRC channels or create personal websites or communicate through mailing lists.
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