2021 witnessed some huge demand for bitcoin and the forum also saw a little increase in the userbase  with 1% rise which is not so much but still a wide majority of people remain on forum posting effectively and helping each other in knowledge enhancement and merits on the forum is respective proof for the same.

China will ban Bitcoin 3 more times.

I got it all wrong. I just feel like deleting the post. Now, I understand it is about passing the written message or information to what others will take note of

To trade with cryptocurrencies, it is best not to listen to this negative news. Because it is possible to get benefits if you have more patience.

So yes, supported. Good luck!

I express support for your merit application, I wish you luck along with several other users who have submitted the same application.

I support your application, good luck!

I can only applaud your zeal. I support your desires,

Upgrade00, thank you very much for your merit source application.
I know you as a respected member of this forum community and I believe that as a merit source you will be able to help even more new members on this forum.

Does anyone know which nations followed similar trends and what the eventual results were?

Is inflation on the part of the state responsible for negative financial and economic issues, or do corporations and the private sector bear the burden of the blame?

Now is the market been manipulated? Or it all depends on the numbers of investors who invested.

The more the demand of Bitcoin the more the increase take place.Can anyone predict the market?
Because people are waiting for the decrease in price and are they predicting the market or not?

Just shared it with you all so that you also knows those who are claiming themselves to be the original Satoshi like this clown Wright are the biggest frauds who will get nothing and we should not give them importance at all.

I always wonder why some countries do not want to support bitcoin,

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Application long overdue!

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so far none of the above application have been accepted after theymos added a merit source to the previous 111 members. Personally I support your merit source app as well as others because I think it will be good for forum and users and merit system too. This is a form of our contribution to existing forum and communities, so good luck to you and others.

It would be cool if we had a "notable twitter threads" child board so if users see something interesting, they can share it for others here.

It would also bring more attention and users to the forum itself and would help serve as an archive of sorts.

its difficult to find these threads after a couple of months have passed unless someone retweets it.

bitcoin talk also has a couple advantages over twitter. the forum platform is a lot better for genuine, longer & nuanced discussion when compared to something like twitter.

How much weight has the Orders Book in the variation of the price of a coin?

If I see that in Bitcoin there is an amount of 100k (USDT value) in the sell orders book, and 110k in the buy orders book, then I guess that there is more demand than offer. Would be that correct? Or maybe I am trying to focus my analysis in that values, butare not the correct ones to check the offer/demand of that coin?

I have to disagree with you here. Bitcoin is about being a currency. Yes, everyone wants the price gains and everyone wants to accumulate more, but bitcoin is first and foremost a currency. If no one ever used it as a currency, then we wouldn't be where we are today. Sure, if I had never spent a single satoshi then my bitcoin stack would be bigger than it is now, but I'm happy that every satoshi I've spent has helped to grow the bitcoin ecosystem and lead to further adoption, and I'm happy that I've had several years of financial autonomy, holding my own money securely, and not requiring any approval from any third party to spend my own money where I want and when I want. Even Laszlo Hanyecz has said he has no regrets spending 10,000 bitcoin on two pizzas.

The only transaction which is instant is physical cash traded face to face. Every other fiat method is slower than bitcoin.

Diversification means putting money in to different sectors, such as stocks, bonds, commodities, property, etc., that aren't intrinsically linked to one another. It does not mean buying a bunch of shitcoins which if bitcoin dumps, they all dump even harder. That does absolutely nothing to reduce the risk of your portfolio.

Not the way you imagine, but pause for a moment and think, isn't Bitcoin somewhat centralized even today? I do not mean exclusively where most crypto miners are located (which is difficult to determine precisely), but the fact that several globally positioned crypto exchanges hold several million BTC in their possession. Governments can always reach for a measure to seize all that BTC, for some reason they can invent at any given time.


As others have already said, it is a little too late for anyone to play with these things, because not only about 90% of the BTC is mined, but in less than 10 years that percentage will reach 99%. In addition, it is inconceivable to me that the US, China, UK, India, or Russia will one day declare a common currency - all these countries are very fierce in defending their national interests, and among those interests is the domestic currency.

The EU has a common currency, but some countries that have been members for a long time do not want to give up their currencies (Sweden, Denmark, Hungary, Poland, the Czech Republic), so even though we are very pro-Bitcoin here, it is more than it is foolish to expect that such a scenario would materialize even in the distant future. I tend to believe that in some 150 to 200 years, money as such will cease to exist - but again, I may be watching too much science fiction (Star Trek)

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But didn’t China ban all crypto miners a few months ago, and most of them left the country? Maybe they just want us to be convinced of it, and at the same time, they are planning a 51% attack?

There is one widely used scheme but it's not using a fake transaction (can be used in that "every day spending" scenario).
It's done by utilizing "replace-by-fee" flag which makes a transaction replaceable as long as it's not included in the blockchain yet (0 confirmation).
However, such transactions can be easily identified so merchants that accept 0-confirmation txns (eg. some Casinos) don't grant the "instant deposit" benefit if it has an 'rbf' flag.

It goes like this: The transmitted "unconfirmed" rbf flagged transaction will be seen by most clients and the victim,
but when the scammer received what he paid for and wants to "cancel" it, he just have to send another transaction transaction that spends the same input(s) and replace the output with his own address. That essentially boots out the old transaction from most mempools.
Bitcoin Core with default setting are setup to replace the older transaction with rbf flag as long as the new transaction follow some specific rules.

BIP-0125: https://github.com/bitcoin/bips/blob/master/bip-0125.mediawiki#Implementation_Details

Understanding US Debt is one of my aspirations.

When you talk about your usual run-of-the-mill, third world country defaulting on its debt, the meaning is pretty much straight-forward. Countries have debt from International institutions or other countries on which they need to make regular interest payments. Failing to pay up amounts to default.

Now, who does the US owe fund to? To its own public, it seems.

This makes it pretty difficult to figure out what exactly does this mean. Some of the biggest creditors are the retirement and social security funds. This is because common people keep funding these by putting apart of their continous savings into it. These "Pension funds" are essentially cash cows. Thus, they buy up bonds from the government in return of the cash.

Now if the US govt defaults, guess who loses? These funds. Because then the debt held by them will lose its value and it'll be a situation of their funds having made a "bad investment" by investing in US Bonds.

Isn't that neat? The Govt gets to fund itself from people's savings. If it defaults, its the people's savings that gets hit.

On further reading, this gets funnier. Apparently the US can only default on its debt, if it breaks its debt ceiling. The Congress votes to increase this ceiling. If it can't do it with bipartisan agreement, that will mean a debt default. This is supposed to spook the markets and lead to a financial crisis. The only threat is the "sentiment". Nothing else. This essentially means that as long as USD is surmount, nothing bad can happen.

The situation this time around is a little bit different with China starting to gain ground. Even then, I don't think any of the major financial institutions, pension funds and banks that hold US debt are ever going to get spooked and move their investments elsewhere. So, these headlines are little more than click-bait; AND a trick to make you learn about this crazy system.

On your first point regarding growing into higher levels of aggressiveness, that does not seem unusual for people who learn about bitcoin while they are investing and then at some point along the way start to consider that they might need to be a bit more aggressive in their investment approach.  Surely, the learning about the asset does not always resonate in the same way with people, and the subsequent market performance can make a difference too.   Some people feel more confidence when the asset goes up in price, and maybe they might start to feel dejected if the BTC price goes down in price and then they fail to buy at the most important times.. such as during a long period of down or stagnation..

This year has not really been stagnant, even though we had a 56% dip and a 39% dip.. Now if the dip continues from here, then maybe we can reassess, but one thing that I am referring to is something like a 1-2 year period of down and even if there might be some UP that comes after the first year or two, the amount of UP does not put you above the starting point... So those kinds of stagnant or negative periods can challenge the sentiments and even the buying aggressiveness of BTC accumulators.

Regarding your second point about the amount of BTC that you can get. Of course, I believe that it is a NOT too helpful of an exercise to get caught up upon the fact that you cannot get as many BTC as you would have been able to get 4-10 years earlier, even though there can be some fruitfulness in considering  past performance in those kinds of terms.. So, yeah in recent times we had talked about newbies with investment projection values of $10k to $20k having goals to get to 100 BTC and then with the passage of time those newbie goals came down because it became less reasonable for newbies to have those kinds of entry-level goals, so maybe the goal would be 21 BTC or 10 BTC or 5 BTC or 1 BTC, so maybe in recent times we have been talking about newbie entry level goals as 0.21BTC... So the amount of BTC that can be accumulated goes down... and at the same times, we likely have to bring down our projection of likely reasonable terms..  Surely there are ways to see that with a longer projection of BTC values, you can see quite lucrative returns that might easily average around 50% to 100% per year (aka CAGR - Compound Annual Growth Rate). 

So in that regard if you have an investment timeline of 4-10 years, maybe you want to be conservative in your expectations of what bitcoin's CAGR will be during that future time.. because the past CAGR may not exactly end up playing out, and as I already mentioned there is a bit of an expectation that it is going to come down to some extent as bitcoin's market cap continues to grow.. and we have likely come to agree that the projected CAGR of BTC is likely higher than most other assets even if if you might not be able to achieve 50% to 100% per year on a 4 to 10-year time horizon into the future. 

By the way, I had already asserted several times and in several threads (not sure if I did it here) that when I got into bitcoin, I had hoped for at least a 6% CAGR in the long term - but I did not necessarily expect to get such 6% CAGR in the first few years of my investing into BTC.  These days I use the 208-week moving average to project my BTC value (and the 208-week moving average is only at $18,500 currently), and I project an expectation that the 208-week moving average will move up at least 12% per year, and since the 208-week moving average is a lagging indicator, spot price tends to be higher than it, and the 208-week moving average tends to slope up - as well if BTC spot price starts to come close to the 208-week moving average (such as less than 12% distance) then from that information, I may well be able to project that in the future I might end up getting lower than 12% appreciation of that lagging indicator.

While I was typing this post, I did create a spreadsheet for my own information to attempt to project out DCA investing at $100 per week and with a variety of CAGR scenarios in order to attempt to project out values.. and with an anticipated 12% or to be able to customize such CAGR or amount invested.   The overall structure for the spreadsheet with rows in 6-month increments  for 4 years looked like this:

Start $   StartDate          % gain /time       Time                Price/BTC          #BTC
$0            7/1/21               6.00%                  182.6                $40,000.00             0.00000000

DCA-$100/Wk         DCA/wk>>>>      $100.00

   Date                     $Value         DCA-Add         Price/BTC            #BTC
   12/30/21              $2,756           $2,756           $42,400              0.06500000
   7/1/22                 $5,677           $2,756           $44,944              0.12632075
   12/30/22              $8,774           $2,756           $47,641              0.18417052
   7/1/23                 $12,056           $2,756           $50,499              0.23874578
   12/31/23              $15,536           $2,756           $53,529              0.29023186
   6/30/24               $19,224           $2,756           $56,741              0.33880365
   12/30/24              $23,133           $2,756           $60,145              0.38462608
   6/30/25               $27,277           $2,756           $63,754              0.42785479

Q. - Why did the OP put Bitcoin (BTC) as the number 1 option?

A. - Because its the #1 crypto for beginners everybody

It would have been nice maybe if he OP gave some thoughts of their own
as to why they compiled the list in the poll.

To all newbies looking for quick help - stay away from cheap Sh1tcoins in
order to follow that "When Lambo" thinking. Just because Bitcoin isnt priced
at $0.01 doesnt mean you have to try an own 1BTC and doesnt mean its
an unachievable investment.

DYOR on coins like: TRON, IOTA and NEO to name a few, they all were once
part of newbies "TOP 5" lists but they are slipping down the rankings and will
eventually slipout of the top 100 in market cap.

Everything bar Bitcoin is pretty much a flash in the pan

The bitcoin address is generated from the public key by using an one-way hashing function and by adding a checksum that helps preventing typing errors.
If you have patience, you can read here: https://www.oreilly.com/library/view/mastering-bitcoin-2nd/9781491954379/ch04.html
There's an nice image there too:


If you do the reading, keep in mind that it's an older version of the book and Bitcoin has evolved since, for example there are more types of addresses, not only starting with 1.

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Exodus is not open source, hence it's better to avoid it.
I use Electrum and I'm very happy with it. It's the most mature light wallet for bitcoin. (just if you use it, make sure you get it from https://electrum.org/ and verify it https://bitcoinelectrum.com/how-to-verify-your-electrum-download/)

There is no easy way to confirm a QR code itself is correct, and indeed, there exists malware which can change QR codes and display malicious ones with different encoded addresses. If you do use a QR code to scan an address (or transaction, or anything else), it is good practice to manually check the address which is then displayed in your wallet as discussed above before hitting sign/broadcast/confirm/whatever.

I very much doubt any newbies are typing addresses by hand, and especially not "most" newbies. As nc50lc has explained, typing an address by hand is very unlikely to lead to loss of funds due to the checksum built in to bitcoin addresses. Base58Check addresses have a 4 byte checksum, meaning that a typo only has a 1 in 4,294,967,296 chance of creating an incorrect but still valid address. Bech32 checksums are slightly different, since they are designed to identify the errors rather than just throw an invalid address error, but they also guarantee a failure rate of less than 1 in a billion.

1. Explain the basics.
2. Show them the whitepaper on what Bitcoin is all about (p2p transactions without 3rd party involved)
3. Tell them about the risk (Scam,frauds,human error on losing wallet etc.)
4. Talk about adoption
5. Talk about the con's of it in terms of investment
6. Tell them about security of their assets

Just tell and stick with the basics and it wont really be that much hard for them to understand.

That seems about right. I don't think that can change, unless you use a compressed address, in that case it's a bit less. Coinb.in is convenient to get a quick estimate.

secondly, Bitcoin is an asset just like gold that the reason most people adopt it for its economic benefits.

Coinmarketcap and coingecko are enough to solve scam problems