I've known Bitcoin since 2012 but started using it in 2019, though it was still for payments (funding and withdrawal) of online Forex trading, nothing more because I was careful to deal with something that might aid illegality. I later discovered that I was naive at that time, the latest development/revolution in Bitcoin made me ever feel bad and I had lost a lot of opportunities in the past to this.

The lesson learned was that it is better to move closer to what is new to us than to be condemning it from afar. Can you imagine that despite having enough money to invest in the cryptocurrency between 2019 -2021, I was adamant that I wouldn't because I believed Bitcoin aids legalities like trafficking, money laundering, terrorism, activities of drug barons, and many more. I forgot to think that as it has its advantages, it also has its disadvantages, no system works perfectly.

Thanks to the present-day awareness, development and regulations that make it clear that Bitcoin is not as porous as I thought. 95% of my only transactions are now crypto-based.


I love to read your stories about Bitcoin adoption too!

I have 2 BNB, what is a good project to invest in? Something with utility, no shit coins

Assume one day, Bitcoin would be the only survivor as cryptocurrency in the world and each individual, company, organization and goverment would abandon all fiats/currencies and take Bitcoin as the only payment. When all obstacles were gone, Bitcoin would actually become a combination of both fiat and investment asset. However, as demand and supply were not to fluctuate much, the price of Bitcoin would be really stable and the value of investment would deteriorate. The two factors/purposes (fiat vs investment asset) will be contradicting each other all the time. If that happened, what's the point of making Bitcoin worldwide acceptable while losing its value and nature of Bitcoin ?  Metaphorically speaking, the hunting dog may be killed when all prey animals are gone.

What is your opinion ? Please let me know. Thanks.

Due to the tightening of monetary policy by the Federal Reserve and the knock-on effect of the bankruptcy of major industry companies such as Terra, Celsius and FTX, the crypto market is full of fraud, black gold politics and various conspiracy theories. I'm personally on the sidelines, but still have a lot of confidence. The pool of crypto markets is getting cleaner and cleaner.
In this earthquake in the encryption market, people's awareness is getting higher and higher. God said that the disaster is that people become smarter and see scams more and more clearly instead of pure trust. Altcoins are becoming more and more Like a mainstream currency, if you are a liar, you have to be a liar with a high IQ.
As a government, it will also make the encryption market more orderly through various regulations. There is no doubt that Bitcoin has had a huge impact on the global economic order.
The early dividend period of Bitcoin is over, and the next is the stable period. What are your views on the future? I clearly know that the persistence of beliefs is often not so strong, and few people can hold Bitcoin for a long time.

I saw this article on a different site, the guy did drop some really interesting points some were a little hard for me to understand though so I decided to bring it to this forum. A link to the article will be provided at the end of this thread.

Myth 1: Crypto is trying to replace fiat money:

Personally I don't see this as a myth, crypto isn't trying to replace fiat money  there's a high chance it will. For those that don't know, fiat money are national currencies that are controlled by the government and backed up by a commodity like gold. In other words, fiat money are just physical currencies. I feel there will come a time where fiat money won't be needed it's just 2022 and the need for fiat money have already began to reduce, most transactions are now done through cashless transfers.

Myth 2: Crypto is just for speculation:

I didn't really understand this point. Is he talking about crypto being based on speculative investments? I'm hoping someone here would explain this better.

Myth 3: Crypto is one big scam and ponzi scheme:

Honestly I found this funny, do people still think crypto is scam? If it we were still in 2010 then no problem you're right to be skeptical about it. I don't think crypto can even be classified as a Ponzi scheme because, unlike most Ponzi schemes it doesn't depend on the number of new investors to maintain its Value. Yes they are alot of crypto related scams like; fake links especially on Facebook, fake crypto exchanges etc. The guy also mentioned some others in the article.

Myth #4: Crypto has no intrinsic value:

I'm actually very interested in this particular point. Is this a myth?, Does crypto actually have an intrinsic value. First of all Intrinsic value is the measure of an investment based on its cash flows. For crypto to have an intrinsic value doesn't it have to be backed by a commodity? ( E.g: Gold) like how most fiat currencies are.
I'll be quoting his last line here. "if you really think crypto doesn’t have any intrinsic value, then you’ll have to believe that fiat currencies don’t either.".

Like I said earlier, I'd love to here your opinion on this especially the last line.

https://mikewchan.medium.com/crypto-for-beginners-dont-believe-these-four-myths-when-learning-about-crypto-1a9e1aa0e936

That's the link to the article above.