Bitcoin Forum
June 06, 2024, 04:52:44 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 ... 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 [131] 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 ... 643 »
2601  Bitcoin / Bitcoin Discussion / Re: Satoshi's faceless identity is the greatest Bitcoin success strategy on: July 24, 2022, 11:47:19 PM
One can not conceive any constructive thought about crypto currency without picturing Bitcoin as the symbol of cryptocurrency, in fact, I always tell newbies that there are two types of cryptocurrencies in the world to which are.
1- Bitcoin= decentralized free ecosystem coin aka the king of crypto.
2-  altcoins=shit coin highly centralized and controlled cryptocurrencies aka altcoins.

A close look and observations of both will tell you what their both stand for, their strength and weaknesses e.g
Bitcoin is a highly decentralized digital currency that gives its user total control, this freedom is possible because the Bitcoin network is on an automatic pilot mood. That is to say, no individual owned or control its network, so the room for influence is zero since the Bitcoin creator remain anonymous a long time ago.
Altcoins on the other hand are suffering from the grips of capitalization, over the controlled and highly unsecured method of network protocols, since their creators are known and they have 100% control of the coins, this has made the altcoin market become a dumping ground for bad projects and coin development.
These factors of Satoshi's lawlessness have made Bitcoin stand out and become the image representing cryptocurrency today and if Satoshi is identified today I think Bitcoin will start losing its position as number one.

Couldn't agree more with you, mate. Bitcoin's unknown creator is what has let it towards widespread success. For true decentralization, there must be no person behind the project which you can easily identify. Cryptocurrencies like Ethereum, Cardano, and even Polkadot could face the risk of centralization as their creators/founders are publicly known. This creates a conflict of interest as we speak. Governments can easily prosecute these people for making private currencies outside of their control. With Bitcoin, there's no one you can target to get what you want. If only most cryptocurrency projects had an anonymous founder/creator and developer team, things would've been different by now.

Unfortunately, money talks, so the only way to bring "trust" among VCs is by disclosing the identities of team members. It's a pity because this puts crypto in the hands of Wall Street. At least, the original cryptocurrency (Bitcoin) won't be going anywhere soon. Just my thoughts Grin
2602  Bitcoin / Bitcoin Discussion / Re: Would Bitcoin recover even if it fell to one dollar? on: July 24, 2022, 11:42:14 PM
How low would Bitcoin have to fall before it was no longer recoverable?

Price, in my opinion, would not dictate this. It would have to be something that would destroy the foundation and system on which it is built.

what you say?

Something bad must really happen for Bitcoin to go all the way down to $1 per coin. The limited supply, and the reduced block reward tells us this is very unlikely to happen anytime soon. If it does happen, the price will soar quickly as whales try to accumulate as much cheap Bitcoin as possible. The only way Bitcoin would die with no point of recovery is if all nodes and miners go completely offline. Quantum computers can also destroy Bitcoin if the cryptocurrency doesn't become Quantum-resistant before then.

The cryptocurrency's been a widespread success since day one, so I'm pretty sure the community will maintain it for generations. As long as decentralization is prioritized, there should be nothing to fear. Just my opinion Smiley
2603  Alternate cryptocurrencies / Altcoin Discussion / Re: Is it good to invest Dot for long term? What are your thoughts about Polkadot? on: July 24, 2022, 11:36:12 PM
Polkadot is indeed a good coin but I don't think there is a crypto that can last forever and even the mightiest coins which are btc and eth, will still end up on the same path, they can also disappear soon. We are in a bear and people are actually focused on here now that prices are likely to dump more but other than that, they are also waiting for a recovery because many of them wants to sell badly.

Pandemic and Russian-Ukraine war are not strong as before but the inflation, yes this was one of the latest issues we are facing now. OP is kinda late to discover dot as this coin was overly hyped before but still, it's better to be late than later or never.

You've said it yourself. Nothing lasts forever. Bitcoin, as well as any other cryptocurrency, can disappear if a new technology proves to be superior than Blockchain. Times are changing at a fast pace, so how long crypto will last would greatly depend on its ability to stay one step ahead of the game. Polkadot may be an altcoin, but it's certainly no "shitcoin". There are dedicated developers providing concrete results to make Polkadot a strong cryptocurrency project that will stand the test of time. Gavin Wood is behind it, so it's likely Polkadot will grow alongside Ethereum for many generations.

I'd say this bear market is the perfect opportunity to buy as much "top-tier" coins at a discount. DOT should be on your investment portfolio, as well as, Bitcoin, Ethereum, Cardano, and BNB. Once the BTC halving occurs within the next 2 years, it's likely market prices will rebound back to the way they were. Maybe BTC will reach a new All-time-high in price, having a positive effect over DOT and other altcoins as well. Crypto is unpredictable at times, so I'd advise you to diversify your investment just to be safe. Just my thoughts Grin
2604  Economy / Economics / Re: is it possible that the bitcoin was created by governments? on: July 24, 2022, 11:25:02 PM
As far as I know, governments don't like a decentralized system. The Bitcoin principle is the opposite of the government's principle. So, it doesn't make sense if governments are trying to ruin their own principle by creating Bitcoin. People or a person who creates Bitcoin must be anti-government, they/he is unhappy with the centralized system used by the governments. That's why they or he made a solution by creating something that can't be controlled by the government.  Wink

*Check again Bitcoin WP https://bitcoin.org/bitcoin.pdf, please understand its implicit goal!

Exactly. Something they cannot control will be consider as the #1 threat to government's existence. Some governments and central banks already fear Bitcoin will take over the world as the leading currency. That's why you see constant opposition from said entities in order to prevent as much people from using Bitcoin on top of Fiat. You wouldn't see such attitude towards Bitcoin if governments created it in the first place. What makes sense is that a person or collective designed Bitcoin as some sort of protest against the government-controlled monetary system.

Ultimately, what matters is that Bitcoin works as a decentralized cryptocurrency no one can stop (even though Satoshi abandoned the project some time ago). I don't really care if Bitcoin's creator is dead or alive as long as it works as intended. The pioneer cryptocurrency's been doing fine without Satoshi anyways. Who knows if someday people give up on their quest trying to find who the real Satoshi is? Just my opinion Smiley
2605  Alternate cryptocurrencies / Altcoin Discussion / Re: Does staking even make any sense on: July 24, 2022, 11:20:56 PM
After recent events I wouldn’t even consider it.

Seriously get your coins off exchanges & even worse, don’t think about trying to earn yield by giving up your keys. It’s just not worth the risk.

It's not worth staking coins on centralized platforms because you can end up losing it all in an instant. As it's always said: "Not your keys, not your coins". You should consider staking coins on a non-custodial wallet for complete peace of mind. How much you will earn in Fiat terms will depend on current market conditions. I'd advise anyone to stake coins with a low APR in order to avoid losing purchasing power (due to inflation) over time. Coins like Peercoin (PPC), Komodo (KMD), Diamond (DMD), TRON (TRX), Cardano (ADA), and Polkadot (DOT) should be on the top of your list of coins to stake.

Ultimately, it's all about diversification. As long as you diversify your investment, the risks of loss will be at the minimum. Who knows if you become the next crypto millionaire by playing it safe? Just my thoughts Grin
2606  Economy / Collectibles / Re: [FREE RAFFLE] 487th- ฿ECAUSE I AM STILL IN A GOOD MOOD-CYPHER HODL PRINTED COIN on: July 24, 2022, 11:18:47 PM
Wow! Another raffle! I will take #9, please. Thanks, krogoth! Cheesy
2607  Alternate cryptocurrencies / Altcoin Discussion / Re: What happens next with the market? on: July 24, 2022, 01:58:41 AM
This is a good moment for investors to cashout profit they need for daily expenses made from recent bitcoin purchases, when bitcoin was near 19,000$-20,000$. But since there is no apparent solid reason for this pump, I believe it's too risky to claim we are entering a new stage in crypto market. We need to understand what is causing these positive fluctuations yet and if they are trustful enough to draw an upside tendency on medium term.

Curiously, it seems Tesla and Elon Musk didn't like the recent pump very much, because as soon as bitcoin started rising, he made sure to infest news' portals announcing Tesla has sold BTC holdings... The intention is clear: to revert the positive tendency. The question is, why?

The market is acting crazy these days. Anything that happens in the real world, can directly affect BTC's price in the short term. Now Tesla announced the sale of its BTC holdings in order to drive market prices even further down the drain. Stocks are also in bearish mode, so it's unlikely things will settle anytime soon. The real problem the world is facing right now are rising food, gas, and energy costs. How can you expect the crypto market to recover if the global economy is in taters? If the economy doesn't recover by 2024, the next BTC halving won't have any profound effects over crypto market prices. These are uncertain times we're living into, so the best we can do is accumulate with the hopes of seeing the light at the end of the tunnel. Just my thoughts Grin
2608  Economy / Speculation / Re: Have we reached a bottom price for BTC? on: July 24, 2022, 01:55:22 AM
Surely the price will drop down to $20k. What we see with the rise in the price of bitcoin is just a part of relief rally. If the price is able to cross the $25k barrier, then we can expect something positive out of the market. Until then there is more chances of drop in the market than big bounce. The market is uncertain and we didn't heard any big news which could bump the price harder.

There are predictions that Bitcoin could drop as low as $8,500 soon. That's way below the projected downfall of $19k per coin. The global economy is still struggling to recover, so it's likely this will become a reality soon. You can't expect Bitcoin to rise all the way to the moon, when most people are selling it to pay for their needs in these "inflationary" times. We'd have to wait until everything settles for Bitcoin to gain traction once more. Bitcoin is still fully functional as a borderless currency anyone can use worldwide, so it's unlikely a dip in price will cause its death anytime soon. Who knows how much BTC will be worth in the future? Just my opinion Smiley
2609  Alternate cryptocurrencies / Altcoin Discussion / Re: Is Web5 a "catch phrase"? on: July 24, 2022, 01:52:12 AM
Firstly, Bitcoin isn't Turing complete and hence any kind of computations to run on top of Bitcoin is almost impossible to be carried out. This was one among the primary  reason behind the creation of Ethereum. Only recently, An year back we were truly able to define the meaning of Web3 with the widespread usage of Defi and NFTs. However, "web5" as coined by Jack is less likely to become popular, as developers won't be in a position to utilize the Bitcoin blockchain to it's full potential without being Turing complete. With Ethereum migrating to POS, we will be able to witness the centralization slowly gaining momentum and as a result developers will be coming up with newer ways to mitigate the issues.

On the other hand, it will take some time for Web2 users to be migrated to Web3 as the terminologies and functionalities are completely different from general web development and requires extra efforts for the developers to be onboarded for building dapps. As you have stated, web5 is a maximalist perception and viewpoint to bring new investors but on the whole, Bitcoin will continue to exist as Digital Gold as it isn't Turning Complete and Ethereum would continue the way it functions as a platform for developers to build decentralized applications!

Exactly. Bitcoin isn't Turing-complete, so the only way Web5 will work is through sidechains or off-chain scaling solutions. But I think we should leave all of this to ETH and its variants, as they're well-suited for this purpose. Bitcoin works better as a single-purpose tool (currency) than anything else. Web 3.0 is still in its infancy, so there's a long road ahead before we can even think about the next iteration of the Web. Even Web2 hasn't been phased out completely from existence.

What Jack Dorsey did was nothing more than a "marketing stunt". Whenever Web5 will become a reality or not, it's yet to be seen. I'd focus more on Bitcoin since it's the one that will radically transform the global economy in ways that we've never imagined. Just my thoughts Grin
2610  Alternate cryptocurrencies / Altcoin Discussion / Re: Are governance tokens (UNI, COMP) a good long-term investment? on: July 24, 2022, 01:49:25 AM
While projects such as Pancake deviated more or less from the UNI's contract source codes, however projects which were lead by Justin still relies on shitcoin tactics to lure the newbie investors into bad investments. Grin May be at one point of time in future, we might be watching TRX failing miserably and Justin being questioned for the same but till then, the blockchain will run its course.

Justin Sun usually shills his projects to attract investors into them for his own benefit. It's all about "pumping" a cryptocurrency or token's price for Justin Sun to fill his pockets with money. He doesn't really care about decentralization after what happened with the STEEM/HIVE fork. That's why ETH is still the "King of Altcoins" even though it's somewhat slow and expensive to use. Underlying projects like Uniswap and Compound have been the pioneers of the "De-Fi" movement so it's unlikely they'll disappear anytime soon. Price-wise, the tokens could reach new All-time-highs depending on how BTC "behaves" in the future. Ultimately, it's all about decentralization. As long as decentralization prevails, there should be nothing to worry about. Just my opinion Smiley
2611  Alternate cryptocurrencies / Altcoin Discussion / Re: Will exchanges control ETH after it becomes a PoS cryptocurrency? on: July 24, 2022, 01:46:17 AM
As far as I know, ETC is the one that is on the original blockchain, so ETH is the fork of ETC  Grin  Anyway yeah I agree, we just need to wait and see how this merging will affect the decentralization of ETH, and if another fork will happen, there is a lot of speculation but seeing it firsthand would be better than just hearing unfounded rumors about the effect of this merge.

I surely don't want to see another ETH fork emerge after the PoS upgrade. It will reduce the main cryptocurrency's value on the market. ETC may be the original blockchain, but it has a long way to go before it can come close to ETH in terms of market cap and mainstream adoption. It's possible ETH miners will switch to the ETC chain after the PoS upgrade in order to maintain their business. There is a lot of hype surrounding "The Merge", so it's possible ETH's price will "pump" for a short period of time. Big exchanges like Binance and Coinbase will profit massively if this happens. At least, the whole thing is open source. If ETH 2.0 fails, we can continue building on ETC for complete peace of mind. Just my thoughts Grin
2612  Economy / Services / Re: [Crypto.Games] ★ Signature Campaign ★ Hero - Legendary[Full] ★ on: July 24, 2022, 01:43:29 AM
Campaign paid.

Received. Thank you! Cheesy
2613  Bitcoin / Bitcoin Discussion / Re: Tesla: "We have converted approximately 75% of our BTC into fiat currency" on: July 22, 2022, 01:32:43 AM

This might be another failed attempt by Elon Musk's to try to manipulate the market for his own benefit. By selling BTC, prices could dump so he could buy more coins at a discount. Rinse and repeat. I don't think the company sold at a loss, since it still has a lot of money at its disposal. It really doesn't matter what Elon or his company does with their BTC holdings.

People should stop following Elon Musk and focus on what makes crypto best. Decentralization is what is truly about to bring banking to the unbanked. BTC is projected to reach $1m in the future, so Elon would be missing a huge profit opportunity if he gets out now. With or without Elon, I'm pretty confident Bitcoin will last for generations. Just my thoughts Grin
2614  Bitcoin / Bitcoin Discussion / Re: Countries have banned Bitcoin; Do you believe is because of criminal activities on: July 22, 2022, 01:27:30 AM
Most countries are giving excuses and  reason for banning Bitcoin is because it can easily be used to fund crimes.
But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.
What are your thoughts

Countries are only banning Bitcoin because they're afraid it'll be used for money laundering and tax evasion. Some countries think people will stop using Fiat altogether in favor of something they cannot control. That's why China, and most recently Russia, are preventing people from using Bitcoin as a medium of exchange for good and/or services. Banning Bitcoin only prohibits businesses and individuals from using it. But that won't stop the network because of its decentralized and censorship-resistant design.

Anyone can simply access the Bitcoin blockchain directly through the Core wallet using a VPN, for complete peace of mind. To stop Bitcoin, the Internet needs to be shut down for good. But we all know that's impossible to achieve. It doesn't matter what a few countries think about Bitcoin as long as the majority is supporting it. Who knows if opposing countries give up and join the revolution within the not-so-distant future? Just my opinion Smiley
2615  Bitcoin / Bitcoin Discussion / Re: Bitcoin Is not an inflation hedge in first place on: July 22, 2022, 01:20:28 AM
It seems that they have confused "inflation-resistant" to "inflation hedge", they are very different concepts.

One is something whose value should be relatively stable with respect to other governments' changes in interest rates, the second is some kind of stock you can always count on going up when inflation drags the rest of the markets down. Those people should buy Google or Amazon stock instead.

Most people need to do their own research to understand what Bitcoin is truly about. The general public has a wrong mindset, believing Bitcoin is a "get rick quick" scheme. But we Bitcoiners know that is not the case. BTC's price always rebounds after a prolonged bear market. One thing for sure is that the cryptocurrency is a lot more valuable today than what it was a decade ago. Imagine how high BTC will go another decade from now. Buying Bitcoin now would be the wisest decision to make. I'd say Bitcoin is the perfect inflation hedge. Who knows if it ends up replacing Gold in the future? Just my thoughts Grin
2616  Bitcoin / Bitcoin Discussion / Re: Is it a good time to start accepting BTC? on: July 22, 2022, 01:14:06 AM
I think its best time to accept bitcoin for businesses, the current prices of bitcoin are low and any bitcoin transaction is bound to giver higher returns in term of bitcoin. Moreover these prices are bound to rise greatly in future, and this will help to give great gains. So if businesses accept bitcoin now, it will be a meaningful decision.

If businesses are thinking long-term, then accepting BTC as payment method today should be a no-brainer. But there are costs that need to be accounted for (utility bills, operational costs, etc), so most merchants/businesses will continue using Fiat as the payment method of choice. Stablecoins are an option, but UST's instability caused a certain level of distrust among the general public. Despite the limitations surrounding Bitcoin, it's still used by some as both a currency and a store of value. It's decentralized and open source, meaning you can do whatever you want with it (as long as it's legal, of course). Adoption for BTC is slowly increasing each day, so it's likely we'll see more businesses/merchants accepting BTC as payment method in the future. Just my opinion Smiley
2617  Alternate cryptocurrencies / Altcoin Discussion / Re: Will exchanges control ETH after it becomes a PoS cryptocurrency? on: July 22, 2022, 01:08:24 AM
The first thing you need to understand what is PoS? Then all of your questions will get resolved automatically.

What you see on an exchanger as staking has got nothing to do with the PoS directly involved with the coin.

If you want to get involved with the direct PoS then you will have to become Validator in the system. This is similar to becoming a miner when you are doing PoW. In case of ETH - PoS validator you will have to stake your own 32 ETH on the network which is around ~ $ 50,000 as of today's date.

Once you do that you will have to follow the software running process which includes: an execution client, a consensus client, and a validator.

However there is catch in this! To overcome flood of Validator or risking the fishy flow of whales for that matter, the Validators will be put into queue before they can join the network for PoS work.

Once they in, they start to receive the blocks from peers and validators need to do attestation of the block by voting it and thus confirming the transaction.

In addition to this, its not about who has staked a lot (in our case you might be saying whale with huge money); but it's all about how "FINALITY" happens. Its distributed work of many validators which goes through checkpoints to confirm the vote.

To overcome the reversible transaction Validator would need to loose his stake from the balance and is charged around one third of total staked supply (currently around $10,000,000,000)

Similarly PoS is protected from 51% where an attacker would need 51% of the staked ETH (about $15,000,000,000 USD).

Its not truly centralised, it's still distributed from validator to validator and to be just single validator they will need huge amount of money and still above algorithms will be in place to validate the vote of one validator.

Its highly impossible to reverse, collapse, 51% attacked! So no exchangers can not do that, they simply running proof of stake collaboratively with their users. They can't risk it.

Most of the information and above knowledge can be found on PoS ETH on official site.

I'm well aware how PoS works. The consensus mechanism existed way before Vitalik Buterin announced it. Peercoin was the pioneer of PoS. Ethereum will only make it "better" by solving the "Nothing at Stake" problem. But even so, the network will be less decentralized because whales will be able to control the blockchain with their stake. Developers will be giving big exchanges the power to do whatever they want with ETH using customers' funds against their own will. We're beginning to see the market react with the announcement of the merge in a much more positive way for ETC than ETH itself. Miners will surely pump ETC's price to the moon, leaving PoS ETH behind in the dust.

Why would I want low gas fees and fast transaction confirmation times when the blockchain itself is controlled by whales? Decentralization is what has made Bitcoin and Ethereum a success so far. Take that away from them, and you'd get a flawed system that's no different than banks. No one knows what will happen after the Merge, so we can only hope for the best. Just my thoughts Grin
2618  Economy / Collectibles / Re: [ANN][SALES] ✏️🎨🖍️aoluain - Bitcoin Colouring Book - Limited to 50 on: July 21, 2022, 09:28:16 PM
#7 for me, please. Check your PM for payment/shipping info. Thank you! Cheesy
2619  Alternate cryptocurrencies / Altcoin Discussion / Re: Dogecoin - a joke or a way to make money? on: July 20, 2022, 10:11:45 PM
It really depends on how you view it right now. Each one of us has our own perspective regarding DOGE. There are some who are thinking it as funny and useless, but there are others who are thinking it as an opportunity to make money by trading. My second cousin from US was trading DOGE actually because he was intrigued by it. He had a specific target for a low price to buy and then sell it high and waiting for it to go down again to his preferred low price.

If I hadn't sold my 36,000 DOGE back then, I could have pocketed big time during the Elon hype days lol.

Exactly. Not everyone thinks Dogecoin is a joke. There are some people who use it seriously for day-to-day payments. Dogecoin is a cryptocurrency after all. What I don't like about it is the inflation mechanism "baked" into the protocol. This will greatly diminish the cryptocurrency's value over time. You can use it as a day-to-day currency but not as a store of value like Bitcoin. Dogecoin has been doing fine since its inception, so it's likely it'll last a lifetime. Who needs Elon Musk when the community is what led DOGE towards widespread success in its early days? Just my thoughts Grin
2620  Bitcoin / Bitcoin Discussion / Re: Don't sell your precious BTC to the whales! on: July 20, 2022, 10:01:24 PM
If you're in crypto space for quite a long time, you'd never going to worry if Btc crashes. We knew how Bitcoin works, we have an idea in what range Bitcoin would reach during bearish season, and we know how capable Bitcoin is for an unprecedented pump. Just remember, we did not expect Bitcoin to reach almost $20k in 2017 and we did not expect Btc to hit almost $70k in 2021. We did not expect for Bitcoin to fall $3k in 2018 either, and we should expect the worse range Bitcoin could reach in this current bearish run. Good thing is, recovery is guaranteed. It only matters of when.

The only ones worrying about Bitcoin's downfall in price are noobs who don't understand what crypto/Blockchain tech is all about. The rest are simply buying and "hodling" coins no matter what. Veteran crypto users like me know this is only temporary. Bitcoin always rebounds in price after a prolonged bear market. If you're patient enough, you'll be able to obtain huge profits once Bitcoin reaches a new All-time-high in price. Selling your coins now will make the rich (whales) even richer in the long run. It shouldn't be long enough before Bitcoin emerges victorious while Fiat dies because of hyperinflation. Who knows if "hyperbitcoinization" becomes a reality soon? Just my opinion Smiley
Pages: « 1 ... 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 [131] 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 ... 643 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!