Thank you hatshepsut93 for this question, thank you very much. Here I also express my opinion again. Yes, I made a lot of extraordinary claims, but there is not enough evidence to prove them. These are my personal opinions, beliefs and hopes. Here, I put forward more of my philosophical thinking rather than scientific conclusions. Philosophy and science are two completely different disciplines. Science requires strict evidence, inferences and conclusions. Philosophy is relatively more open. There is no unified answer and no right or wrong judgments. But I think these thoughts are still very valuable. I have always believed that Bitcoin is not only important to Bitcoin's technology, but more importantly, the ideas and culture behind Bitcoin. As I said earlier, decentralized thinking, equal and free thinking. I write these views more of an exploration of these ideas. Of course, someone must believe these ideas, someone must say that this is a fallacy, this is a joke. Each of us has our own cognitive system and judgment standards. We have also heard a famous saying: Every time human civilization progresses, it is the result of thought. These propositions that I put forward now are not only applicable to today, but also predictions for the development of human civilization in the next fifty years. I believe they will still be applicable fifty years later. I hope that in the next ten years, more and more people will reach a consensus on these views, and then build a bit civilization step by step.
Talking about influence of Bitcoin is not just philosophy, it's more of a social science so there's a burden of proving your claims in some way instead of just declaring them. Even in philosophy scholars try to make some logical arguments for their statements. You are simply postulating your opinions as facts and want us to accept them without questioning it. Meanwhile Satoshi said "don't trust, verify" and it can easily be used as Bitcoin's core value. |
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Deflationary policy would mean destroying existing money supply, no government can afford that. Imagine raising billions through taxes and quite literally burning them - how would the government even operate after that? And if the government simply stopped printing money, it would be quite a weak deflation that won't be felt immediately.
But if you somehow imagine a country undergoing a strong deflation, then indeed there will be less interest in investing in cryptocurrencies, because there will be less interest in investing in general.
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BTC just dipped below $45k, so it's time to reset the counter.
IMO believing that Bitcoin will never be above $45k is a very silly, the era of bubbles is not over yet, even if things could be slowing down. And after one or two bubbles $45k would be the bottom or even just forgotten.
It's pointless to listen to permabears, because they always say that Bitcoin will never again reach whatever is the ATH at the moment and that it will only go down.
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I'm a bit offended, But if Axie, Faraland, Mydefipet and Cryptoblades looks scam to you then I don't want to argue. All the crypto chart such as coingecko and coinmarket cap can list any token as long as it is listed on the exchange with certain amount of trading volume. Do you even try to look coinmarketcal, dappradar and cryptopanic or just focus on poocoin which I indicate as charting tool for new coin before you post here? I just give a tool but it's up for the user to filter and DYOR because it's impossible to have a complete list of trusted project only on this decentralized world.
Go on browse coinmarketcal, dappradar and cryptopanic, If you prove that all tokens listed there is scam then I will be happy to delete this thread. But if not then take down this post of yours.
How can you tell people who just yesterday learned the word "cryptocurrency" to do their own research? You're just giving them a wide selection of scams and shitcoins and leaving them alone to lose their money. Even in stocks and other traditional markets beginners and short-term traders strongly tend to lose money, but you are suggesting them to trade on totally unregulated market where scammers run free and never get punished. This is a board for helping beginners, so the right thing is to warn them about the dangers of altcoin trading, not promote it to them. |
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Banks are not going to stand in one place, most European banks have instant transactions within their own country, it's a matter of time before international transactions will become faster too, especially if there will be a bigger demand for that. Bitcoin never had a goal of providing cheap or fast transactions, it's main goal is providing control over your money without any third parties.
So, to me the main benefit of Bitcoin is not worrying if my government will decide to freeze my account and ask about the origin of my funds and if I have fully paid my taxes and so on.
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Why is this a new beginning? Because in two to five decades, mankind will suddenly discover that they have entered a world of trust and transparency built entirely by blockchain, a brand new civilization with new system and order. There is an essential difference between new civilization and the old one.
The old chronology system is no longer suitable for the development of new civilization. Therefore, mankind decided to adopt a new chronology method. I call it Bit Era System.
You're often making such big claims, yet you never show any evidence to support them. Have you heard the phrase "extraordinary claims require extraordinary evidence"? This is definitely the case here. Without data to support your claims, it's nothing more than just personal opinions, beliefs and hopes. Someone can just as easily believe that Bitcoin is useless and will go to zero. |
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Before bitcoin maybe top 2% of people owned 80% of the wealth. But after bitcoin, perhaps top 2% would own 95% of the wealth (approx only to illustrate point).
Bitcoin's marketcap is still only 1 trillion. This is a tiny drop compared to global wealth. So before you can start seriously discussing Bitcoin's effects on inequality, you would need to have it grow hundreds of times, which might not even happen. It's pointless to discuss things that are so distant in the future, because so many things can change and absolutely no one can predict that. |
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The real lesson here is to stay away from crypto influencers, bloggers, analysts and all other self-proclaimed experts who peddle altcoins, because that's how you get FOMO by looking at their posts about moonshots, go to exchange to buy "promising" shitcoins and see them go to zero sooner or later. Yes, there are a lot of stories about alts going from fractions of a penny to dozens of dollars, but there's even more examples of alts instantly dropping below their initial price when they hit the exchanges and never recover again; and also all these "successful" coins eventually dump to nearly zero too. Look at the top 20 coins from 2013 and where they are now. Just because a coin is crazy high today doesn't mean it will keep growing, chance are it's actually at the height of its pump cycle.
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I don't think that new payment methods are stopping Bitcoin adoption, because even older methods are superior to Bitcoin. The main reason why people don't adopt Bitcoin for daily transactions is that it's hard to find a place where it is accepted. With a debit or credit card you can go to any shop or any supermarket, you can pay online and even in other countries, but with Bitcoin you will most of the time just not be able to pay with it. The second reason is volatility - most people are not comfortable holding something that can lose 50-80% of its value, even if on average it gains a lot of value. Also Bitcoin has a strong reputation of having enormous fees, even though it's rarely true, the public perception has already been formed.
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Should be named "helpful tools for getting scammed by yet another shitcoin created 3 days ago". Crypto community should stop spreading the myth that there are "good projects" and that you can get rich quick by investing in them early. Trading altcoins is nothing but gambling, as the odds are stacked against you. A beginner has no chance of consistently making profits on heavily manipulated and centralized market where every product is a garbage that will never succeed and is only created for financial gain.
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Everything was going smoothly, so what was the reason for the sudden dump to $29k from $64k?
A sudden dump just happened because of Elon Musk said mining bitcoin is not eco-friendly? or it just happened cause china banned bitcoin?
If the dump happened for these reasons, then why the market is pumping now, and growing smoothly again? As far as I know, none of them withdrew their statements!
Those things were a trigger for the price dump but not the cause. The cause was the lack of interest in buying Bitcoin. The bull run started on the hype of institutional adoption, but then all the news about another big company buying Bitcoin just stopped, and retail investors alone couldn't sustain the bullish momentum. So when the FUD started coming, traders started taking profits, because it's a safe thing to do. Now the price failed to dive under $30k which is viewed as a sign that the market is still bullish, and earlier buyers are not selling yet because they want to see how far this can pump. If momentum will get lost again, the price will dump very quickly. It's all just pure speculation of how far it will go before reaching top and crashing. |
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People need a reason to adopt Bitcoin. And this reason should outweigh Bitcoin's flaws or the flaws should become smaller with time. Bitcoin's main's proposition is that it gives the user control over their money, but most people aren't interested in control, especially since it's also a burden, they are fine with outsourcing it to a third party. Inflation is also not a problem for most, because either they don't have enough money to notice it, or they store their wealth in assets. Bitcoin gains a popularity as one of such assets, but it's not becoming significantly more popular as a currency that also serves as a savings asset.
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On practice it's irrelevant to the world, because Bitcoin has so little users that you can't observe its macroeconomic effects. With the current level of adoption it would take hundreds of years until Bitcoin will start having some wait, and not only because so little people use Bitcoin (estimated 30-50 million right now), but also because these users mostly just bought it and hodl without using it as a payment method.
The thing we will be worrying about in 20-30 years is if transaction fees will be enough to guarantee enough security against 51% attacks. If not, then that could be an incentive to adopt uncapped supply and block rewards, but it's still too early to theorize about it.
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He's saying "hope" as if Canada is on the verge of collapsing and is desperately looking for money. Also, the total mining revenue of Bitcoin network per year, assuming they sell at $46k per coinm is around $15 billion, while Canada's federal budget is $300 billion, so how can you talk about saving Canada if even in this scenario when Canada would go all-in on mining Bitcoin, it would still be a fraction of their spendings, and this is ignoring the cost of buying miners and costs of electricity.
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The forum expects from you to follow its rules, and the forum's community expects from you to not be a shitposter. You can't expect anything from this forum at all, users come and go, users might interact with your posts or they might ignore them; there can be good and educative posts or interesting discussions, and there can be tons of shitposts and spam; there's no guarantee that you will be accepted in a good paying signature campaign or that signature campaigns will even exist in the next few years.
This forum isn't actually a great learning resource for beginners. As a beginner you should first learn the basics by reading a good book. After that you could search this forums if you have some questions, they have probably been asked many times already.
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Bitcoin is still early, but not "early early". We have started passing some milestones like first country to make it legal tender, adoption as store of value by companies, laws being adopted around it, etc. This makes it very different from where Bitcoin was 5 years ago when it was largely ignored by everyone except for a small number of retail investors. But still Bitcoin is not really mainstream, only a little amount of companies adopted it as store of value, and even less as payment method, only 1 country in the world made it a legal tender, and its adoption as a payment method is progressing very slowly in general.
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DeFi and smart contracts will always be full of security threats because it's essentially a full programming language that allows you to program anything, and that makes it hard to analyze and find the bugs. Bitcoin also has a scripting language, but it was intentionally restricted in what it can do for this very security reason, so Bitcoin can't do all the things that ETH can, but it also had zero hacks compared to countless Ethereum failures that happen every year.
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If you're selling while Bitcoin goes up, you could start with selling less and progressively sell more and more and the chance of a bear market increases. If you're selling while Bitcoin goes down, you can do the opposite and start selling larger amounts first while the price is still high. When you are averaging you have to accept that your sell price will be lower than the ATH, but it would also protect you from selling too late or too soon and missing out on a big amount of profits.
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It's a distorted narrative to say that Bitcoin is here to stop inflation or save people from inflation. Bitcoin itself doesn't have infinite inflation, so it means that theoretically as fiat currency loses its value, Bitcoin's price will go up because its supply didn't change. However, Bitcoin can't stop governments/banks from printing money, and it's not adopted enough to have observable macroeconomic effects. It's also quite volatile for now, so it's not suitable to be a store of value for everyone.
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The idea that companies are not paying enough taxes comes from twitter/reddit communists who think that companies should be taxed by 99% of their revenue so that the government could provide them with free healthcare and education.
In reality companies are paying exactly as much taxes as they are required by law, tax evasion is pretty rare among the largest companies, they would lose too much if they would get caught, and committing it on a large scale is much harder.
Many countries have tried to implement bigger and bigger taxes, the result is always the same - business flees the country, the country gets even less tax revenue, economy starts to struggle.
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