With the LUNA crash we are going to see more of such events happening in social media, shady telegram channels and more. It is another example of the nature of scammers in this ecosystem to use running trends to name their own scams and attempt to confuse users who are caught in the chaos.

Moreover, tokens on pancakeswap being unregulated this becomes the prime site for scammers to grow their wings.

Newbies should stay away from any project naming itself with such. Remember that in crypto money once sent, is gone forever unless the person on the receiving end sends it back. Of course a scammer would not be one if they would do that.

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It is a safe bet to trust the top 5 but do note that at one time the Bitconnect ponzi scheme coin was in the top 5 too before it shut down and left its investors with nothing at hand.

There is some shakiness here about verified users and projects being legit not being completely exclusive. There are scam projects using verified names to promote themselves, which these advisors already know and have already signed in for a planned exit at one point before the investors know of it. Then there are celebrities who end up facing lawsuits but have already been promoting a scam project for a long time.

Either way, what someone tells you should not be the decision maker, you own insight is important.

True, but they might need some hand-holding. You are right about not suggesting someone to invest, rather tell them about the pros and cons, the historic charts and the mysteries surrounding bitcoin. Never ask someone to invest, because if they lose money, they will blame you for it.

What you can also do is refine the information available on the internet because the latter is often biased and plain wrong, due to a lot of reasons. Moreover many local companies like exchanges are now trying to get people aware about crypto through seminars, talk-shows and meets. So try to involve your friends in them if they show interest.

But never make it seem like you are tin-foil hat guy with some cyberpunk coin.

I have been through the market from 2016, and personally I have felt that bitcoin at low price is always better than any altcoin at any price. There is no guarantee that bitcoin will not fall but its community support and the demand to buy bitcoin is huge as soon as its price drops, hence it will not drop too easily. But for altcoins, the community hands are often weak and they tend to topple at every other happening event.

The decision to buy is simple from the last few years chart. Just that new investors often tend to cheap out and go for altcoin instead of fractional bitcoin amounts. As long as one remembers that every satoshi matters, this will not be the case.

Buying bitcoin is always the better option as shown historically.

Hunters need to stop hunting for them. They run because some cheap worker is willing to spend their time and do these type of "bounty hunting" in order to get listed for some shitcoins. Neither is the shitcoin going to be the next bitcoin nor is it paid immediately. Still these cheap workers should understand that they are being exploited and they should individually take the decision to use their time in something else like bitcoin paying campaigns.

Either way, the real winners are the owners of these shitcoins, they get some free marketing and not legal action. So it lies on the bounty hunter to decide whether to continue that free marketing or not.

Mining needs investment from the side of the miner in terms of location, ASICs, electricity, human resource, cooling and maintainance, to name a few. I dont think a bitcoin enthusiast has the willpower nor the moneypower to start this on a large scale in a few days time. But buying bitcoin takes only a few second. Most large scale miners are doing this full time, which I dont expect an enthusiast to be able to do and doing small-scale mining is not worth the time, the ROI will come with prolonged period and the person behind this will sink into debt by then.

Overall, buying bitcoin at low prices is always encouraged today. After the hashpower-wars became too intense for indie players to nudge in, mining has been something that the big corporations have kept in control.

New coins whether being pumped inorganically or not is difficult to predict. It is hence unwise to jump into newly launched coins without evaluating the team and project or the service being developed. Because of the projects are failures from the start, which even the team knows, one should evaluate the project and its outcome for the next few years before investing in it.

Just because it is easy to buy tokens does not mean you should. Even in the bear market, many coins are going down. There is no need to buy any of them, rather one should buy bitcoin. Because bitcoin is guaranteed to go up even if each of the other altcoins are unable to break even. This is backed by the past charts and records of bitcoin.

What the market usually shows, buying and selling.

Did you check the market aggregator websites? Most of them are, the ones we should be concerned about as intermediary use like USDT and USDC.

Such questions have no answers, just like questions on existential BS. It is better to avoid such questions because when the bull market arrives you will sulk that you cannot buy at such high prices and neither do you have bitcoin to sell at high prices. Bear market is the time to buy the asset, not to predict when bull market will come in.

To be successful at trading, you should be waiting for the bear markets to start so you can voraciously buy. If you are not one of those, you need to rethink your game.

I would not say that those things had negative publicity as bitcoin has. Bitcoin has been notorious for its link with ransomware and hackers. That itself has brought down its name more than any other factor, like hacked exchanges. Even then those who have been into bitcoin will remain in it, making it a niche asset.

Defamation only exists if you take it as defaming. Bitcoin is not complaining and neither is it failing its purpose. People who use bitcoin are.

Hence my opinion regarding this is to continue doing what we already have been doing - holding. Let the governments gradually understand the things behind bitcoin and maybe they change their stance.

I think we all can agree on that but there is a small catch.

Yeah, you do need to sell from every high to cash out some into fiat or stablecoin and then use that to buy back at lower price. If you dont do that, your total stash of bitcoin will never multiply, only the projected fiat value will show as big on your bitcoin wallet.

This cycling of bitcoin<>USDT/FIAT should be done with a fraction of the total bitcoin that you own. For beginners, this is a difficult thing to manage - but to make it simple, like in this current scenario, bitcoin is bearish, hence buy bitcoin to sell at a higher price. In the middle of the change, hold.

I would buy a house. You may not. It does not change anything.

Buying a house means having a real estate property at hand if you never had one. Your own house is your own, a rented house is never going to be your own. And if you are someone who loves decorating and designing your own house to make it look real, bitcoin should be kept aside, because end of the day your happiness is what matters, not your money.

The previous statement and this are not linked, even if you might think as. Bitcoin price undergoes bull and bear cycles. That does not mean you will sell your house or go into a rented house, that is an absurd thing to think about. When the prices is bearish, you will buy and then stop at a point when you run out of fiat at hand.

Escaping from getting scammed is a general topic, but thinking specifically for a project that uses altcoins, there are many factors to think about.

There is also the dichotomy of scams vs failures. Both end up with the same outcome for the investors.

Is the project a niche one or mainstream one - if it is the second one it will fail for sure.
Copied whitepapers, placeholder images for team members - immediate red flag signs.

Then there are those who use Advisor images of legitimate linkedin personnel but they are never actually involved - check on linkedin yourself to know how much they are involved in the project.

Overall this is a broad topic to discuss, it is better to learn from the stuff that gets reported in the "Scam Accusations" section and see how they are uncovering them. Even then this is the tip of the iceberg, majority of the scams dont get reported.

It gives me a sense of satisfaction that someone read my post and showed some appreciation for my post, or my attempt to propagate some thought into a certain topic in the forum. Because the number of signature-led posts is in large number in this forum, many posts go unattended by merit sources even those genuinely handing over merits to every thread.

However I try to help newbies out on trading and in general how to handle bitcoin, which I am well versed in and getting merited there makes me say a mental "thank you".

Hence I do check back to see which post of mine got merited recently when I come back to the forum, and who was the merit sender.

It is mostly gift cards that people can buy for those who cannot directly spend Bitcoins for money. Then there are services to help such people out. It would be a dream like situation if e-commerce websites started this, it would definitely boom the market.

Beyond that there are few options to spend crypto on. Exchanges and casinos being the majority of them. Of course both of these are risk based things and not for everyone out there.

Hence it boils down to mainly holding Bitcoins for a future profit, unless some big announcement happens in the lines of what I wrote.

Market will rebound back, it is just a matter of time. Like I have seen for the last few years it is a cycle and we are in the bearish phase of the cycle. It is important to sustain through the bear phase and buy the asset at lower than average prices so you can sell during the bullish phase.

Questioning why it happens or what to do if it never goes back up will waste your time and is irrelevant. Whenever a bear cycle starts such sentiments are common and need to be avoided.

There needs to be a balance of what to do during bear and bull phases so it never feels like you are not able to do anything while the market moves. That gives a sort of mental cushioning. Additionally one can move to fiat based markets if they have experience in the same for the time being.

Trends can change with time and they will definitely. Therefore preparing for the next is what becomes important instead of thinking the reason behind the dump. Prices will probably go up beyond the 30k mark but keep in mind that majority of stock and fiat markets are also down at this point. So be wary of what you can buy and salvage from this dump.

Don't focus only on Bitcoin but look into non-crypto sectors and buy them too. But don't go into altcoins. They are not worth the time and money you have.

The current bear market seems to be correcting back to 30k usd while still facing some degree of selling pressure. I guess there is a buying trend starting. Even then this bear market will be prolonged if the tables turn and more selling starts by some big players.

We can only wait and see while placing orders on both sides to take advantage of the situation. Buy if the price goes below 25k and sell if the price crosses the all time high of 69k.

It is a game of patience at this point.

Hype will only run the project for so long so the owners can make big bag of cash and dump on their investors and bail out. The investors will never know what hit then until it is too late. These recent shitcoins have been doing that and will follow suit in a few months too. Basically another method of a HYIP/MLM scheme in the name of cryptocurrency.

Huge minion squads can help pump such coins, but the wiser folk will sell their holding and exit when the euphoria is high. It does not imply that every such coin will be a scam, but majority are.

Also CRPT and Utrust are useful coins, I hope to see them in better conditions in future. But my coin of choice will always be bitcoin.

It is usually the second one more than first one. Media personalities getting involved in crypto because of its unregulated border-less nature, makes the entire trade and manipulated one.

While buying and selling is one thing, doing that on someone's commands is a different thing. But the choice always exists and to exercise the choice is to be the true trader. One should never let someone else's judgement cloud their mind. Here everyone is out for blood, deception and trickery are very common and it takes time to learn to avoid that.

Which is also why trading is a long term game, so you gradually learn how to use the movements to plan your orders - usually by going against what the influencers say.

True, many people got into crypto and still get into crypto because they think it is a legitimate get-rich-quick scheme, when all previous such schemes failed. This is because of the human mindset of less work more pay attitude. It becomes the root cause behind the arrival of scam pump and dump or signal groups and also the MLM/HYIP schemes.

Just like stock market trading needs some sort of chart analysis and then technicals, similarly crypto needs a lot of ground work to choose S/R levels and place trades based on those levels.

Nobody is going to babysit a trader in learning phase to buy or sell, they have to learn it on their own or pay for the lesson to the market by losing money.