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Anyone that says that bitcoin is the perfect crypto currency and can be used as a normal currency are in the stage of denial. Bitcoin is no where near being the perfect. Though it is currently better than most of the crypto currencies out there. But, yeah, it is still in its infant stage and there are a lot of space for improvement. We are seeing those improvement and give it few more years and then we might have a perfect "bitcoin".
I would say one of the biggest disadvantage is the bitcoin scalability problem which causes the fee surge during heavy network load.
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There are many countries where bitcoin is not accepted legally, so how do you use bitcoin in that country? Usually if you raise the level of bitcoin use in that country then you may get into legal trouble.
So how do you use your earned bitcoin in that country.
I don't thing there are "many" countries that has banned the usage of crypto currencies. As far as I know only few selected countries and most of them are highly corrupted. Again, there are some countries where the coin isn't regulated. You will have to use it at your own risk. And then there are countries where they see currency as something else (like private money, property and so on) and you are free to use it as long as you report everything to the financial authorities properly. If your country has banned the usage of crypto currencies, you shouldn't use it. You will end up being tied to evading taxes, money laundering and other criminal activities. Though you will only get into trouble if you convert your coins to fiat currency. |
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When I check coinmarketcap I always find it interesting that there is some crypto mooning. You can seen gainers and losers everyday. I think what seems like is happening that there are people in the know about some secret event or information that the public is not privy to. Perhaps if we did know than where those gains happen for some unknown altcoin, you would have bought it already. And you would also know before it getting dumped. how can I get in on this action?
Also another thing, isn't there some kind of bot, that will automatically buy from what ever is gaining and automatically sell as soon as price goes down? there has to be a way to do this that we are not aware of.
Are you talking about those weird unknown altcoins that you have never heard about? Those 100x 1000x price rise is all fake. Those shit coins price are being pumped on purpose. People fall for those price manipulation, invest thousands of dollars and boom, the price drops. The pumpers (the developers) starts to dump their tokens as soon as they see people are buying their shit coins. The coins eventually ends up dying leaving a lot of people hopeless. What to know where those "secret events" are shared? Join those shady paid telegram groups where you will eventually get scammed. |
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Hi Guys
I have been reading about State-Issued Digital Currencies and it seems that current bitcoin wont worth anything.
let me know what you think about it i am planning to write an article about it
N
Why do you think bitcoin won't be worth anything when "state issued" crypto/digital currencies are made? The state issued currency has nothing to do with bitcoin. In fact, more people will get to know about bitcoin and their advantages over those centralized government issued crypto currencies which will in turn drive a huge demand for bitcoin. Even though if people won't be able to use it as a regular currency, they will still be able to use it as a store of value. Bitcoin has proven over the years that it is an excellent store of value! |
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I only store my funds on one exchange like 3-5 months and its on Binance yeah its really not safe to store for much longer time but I fully trust this exchange because funds on Binance are SAFU meaning its safe and your money are insured once something happens to that website you can recover your money Binance has emergency reserve to be use to payback traders in case of hacking but like the most advise here if holding huge amount of crypto then best to send it to your own wallet for longer storage purposes.
Storing 3 to 5 months straight is insane. It is like you are trying to lose your funds on purpose! Doesn't matter if the exchange is the well known Binance or any other exchange, you should never trust them completely with your funds no matter how much secure or "extra" features they claim they have to protect their users. I have heard about Binance SAFU, but I doubt they are going to cover all your loss if anything bad happens to the exchange. They will likely cover just a percentage of your loss. So don't go around thinking you will get back all your coins eventually if binance gets hacked. Oh, and it is going to be a very lengthy process. |
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This is so sad. How old was that kid (didn't go through the article)? Aren't there any age restriction or something? Or did he place bets illegally? I did hear that a lot of illegal gambling takes place around in South Asia. The kid should have stopped in the first place when he lost everything. Borrowing more money from friends to get back what he lost was the biggest mistake in his life. I wonder the guy who lent him all those money knew if he was about to gamble it all. I kinda have a feeling that the story would eventually be the same even after he managed to win the bets he placed. He would become addicted and eventually lose everything along with his life.
People should always remember that they should gamble with money that they can afford to lose.
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I have read tons of threads regarding this notion of doing a casino with a Negative House Edge, and of course it makes sense NOT to create one, right? Unless you wanted to give away free crypto to users, in the long run the house would be losing crypto coins.
Now, I really6 thought about this for more than a year now and I think I found the only way that a Negative House Edge Crypto Casino can work.
So, I made the first casino with negative house edge and I was wondering what you guys thought.
Obviously, the goal is to promote the use of the Phreess token, and for people to earn Phreess in the long run playing on the casino.
First of all, negative house edge crypto casino makes no sense at all. I mean what's the use of it? Why not give away those Phress token for free instead of making people gamble and win those tokens in the long run? Never heard of phreess token though. Everything over here sounds wrong. You will make people buy phreess token and bet in the casino with the hope of winning more? This sounds all suspicious to be honest. Giving away tokens for "free" in the long run is going to have a adverse affect on the price. Maybe explain what you are up a bit clearly? |
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We have been hearing news like this for years, but in the end nothing happens. So highly likely the Government of Australia won't be using ethereum blockchain network to power a digital currency. Probably there are lot of drawbacks for which they back out from using current blockchain networks to power their projects. Would have been great though if that ever happened.
If they are serious about this, they might start powering their own blockchain network and make their own controlled centralized coins. Still a better thing to do than having nothing.
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I'm considering to possibly add Bitcoin and other altcoins as a way to pay for goods purchased on my online store.
Is this a good idea? Are there any risks (other than the volatility)?
Is anyone really going to use this?
I'm afraid that my customers may not be much into cryptos, but I guess that it's hard to tell until you try ...
I also have some doubts on the technical side.
Thoughts?
Thanks in advance
Do YOU want to receive bitcoin and other crypto currencies? Or do you want to receive fiat currency but allow users to pay in crypto currencies? If it is the former, then yeah go ahead. I don't think there is any risks involved as long as you set up everything (the wallets, protocol and other stuffs) properly. But make sure each transaction gets enough network confirmation. If it is the latter, then you can use third party payment gateways. They will accept bitcoin from users and you will receive fiat currency. The fee is reasonable and as far as I know, there is no risks involved and easy to set up. |
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Not a new way to scam people. Taking advantage of peoples greed has been one of the prime way to scam people. I still don't get it. How come people still fall for scams like this? How do they expect that they will get "400% return" within a short period of time? I know there are people who knows it is a scam but still gives it a shot in order to see if they get lucky (which they shouldn't since all they are doing is giving scammers a hope), but then there are people who actually thinks it is real. They deserve to get scammed for their stupidity. Being a bit harsh over here, but at least they will learn a lesson and be more careful next time!
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There is no such thing as winning strategy when it comes to gambling. Doesn't matter which strategy you use, you luck won't change. The best you can do by following strategy is bring self control and manage your losses properly. Gambling depends on luck. Those strategies might help win in short run and the only way to exit with a profit with those strategies is by quitting forever. Remember, in the long run, you are bound to lose. Kindly suggest what works for you.
-snip-
6. Paid Group
Or simply subscribe to a betting group and play their games strictly.
Don't join those groups. They are all scams. You will be paying them to get scammed. |
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Yeah, it has changed a lot. Especially the use cases. Back then the network wasn't under heavy load. The prices of bitcoin was low. The fee was also very low. Like just few cents. It could be easily used as a regular currency. You could make a payment and get your network confirmation with an average time of 10 minutes. But right now that is almost impossible. You will have to pay high fees or wait for hours when the network is underload.
Right now people uses bitcoin as a store of value. Though bitcoin still has the same benefits.
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There is nothing wrong in being uncomfortable when you invest in projects with anonymous team. Just look at the number of projects that are popping up here and there with so called anonymous team. How many of them has succeeded? How many of them did "not" scam their investors? I would say all those projects that are saying that their privacy matters are just using privacy as an excuse to anonymously scam people. What is wrong with showing your identity (except for few cases)? You would be likely safe if you don't scam or screw your investors.
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Scammers are everywhere. If you stop one of their "scams", they will come back with another. It is like they are totally unstoppable. The only you can not be scammed by them is being careful. Think twice before attempting to invest or do something.
I have seen people who know that a scheme is a scam, but they still try those schemes out to see if they get lucky. That is the most stupidest thing to do to be honest. They are the one indirectly promoting scams and encouraging scammers to scam more!
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That is nothing new. How come people expect the price of the tokens/coins go skyrocket after thousands of people receive them for free? Yet, people still go after those airdrops and waste their time. And yeah, even most of the airdrops require you to send something like 0.001 ETH to be eligible for the airdrop and sadly people still does that thinking the amount is nothing. But like you said, if thousands of people sends those amount, it eventually builds up to something huge. No matter how small the amount is, just trying out your luck means you are encouraging the scammers to scam more.
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Do you happen to know of any fast food restaurants which accepts crypto in the mainstream world? It would be extremely convenience to buy food with crypto anywhere in the world. Since crypto often behaves like cash (no middleman or KYC required), it proves to be even better than credit/debit cards as a payment method. The only issue would be dealing with price volatility. But fast food restaurants can simply convert crypto to Fiat instantly via the use of a payment gateway (like Bitpay or CoinPayments). If you happen to know of any fast food restaurant in the US or anywhere in the world which accepts crypto as payment method, please let me know. I'd imagine this would increase mainstream adoption of crypto at a fast pace. Paying with Bitcoin or Ethereum at KFC or Burger King would be so much better than paying with cash or credit/debit cards, in my own opinion. Thoughts?  I have heard a few good number of restaurants are accepting bitcoin or other crypto currencies as a form of payment. They are mainly experimenting with it. But are you sure it is better then credit cards for making payments? Look at the network load right now. There is no other option for you other than waiting for more than an hour for network confirmation unless you are willing to pay the huge network fees. Though you still can use some altcoins and get quick confirmation. Try using https://coinmap.org/ to locate restaurants or merchants near you accepting bitcoin. |
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That is just a coincidence or pure bad luck I would say. Doesn't matter if you place a single bet or a multiple bet, your outcomes won't change. You managed to win all bets placed serially. But this does not automatically mean that all single bets you placed will always be a winning game. Keep on playing like this and you will see that you are also losing bets. You might even face some situation where a lot of single bets you placed didn't win at all. -snip-
So my question is whether you prefer multi bets to single bets and whether you find multi bets significantly more risky than single bets.
As far as I know, all bets has the same amount of risk. So it doesn't matter if you place multiple bets or a single bet. Though placing single bets gives you better opportunity to handle everything. |
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You don't need to think much when you are buying something but when you want to sell there is always a fear that what if the price increases?
-snip-
That is why it is better to set a target/goal. When you reach your target, sell your coins. Remember, as long as you don't sell, you don't make any loss even if the price falls. The same is true when the price rises after you sold your coins. You didn't make any loss! If you are still confused on what to do, then sell a portion of your coins for profit and keep holding the rest. -snip-
As a boy belonging to middle-class family, I don't have a large share BTC hodling and now I am unable to figure out what should I do? Here are my few questions......
Should I hold for more time?
Should I buy some more now only or wait if the price dips a bit?
You social economic status doesn't matter. Invest whatever you can afford to lose. If you can't risk anything don't invest at all. How long you should be holding depends on your target profit. Wait for the price to "dip"? What if it never "dips"? |
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As far as I remember, back then you didn't have to do anything for airdrops. Like you would receive airdrops if you registered your receiving wallet address to the airdrop. Or you would receive it based on the amount of bitcoin you held during a specific period of time. In that case all you had to do is sign a message from your bitcoin wallet to claim.
Now a days, I have heard they make you register for airdrops by signing up with personal details. They even require people to submit ID and go through KYC so they don't abuse the drops or something like that. They make you follow their social media accounts and even promote their coins. So, i guess its no longer the same "free" coins.
They aren't worth it at all. Who know what those scam projects do with your ID documents.
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-snip-
This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment.
What do you think?
Why is it not okay? I don't see anything wrong with "new investors" making profit by investing in bitcoin. Are you trying to say it is because the price is too high to invest and a bit too late? Well no.. It is not too late and you can still invest in bitcoin even if the price is high. You don't have to invest in one whole bitcoin. You can always buy fractions of bitcoin and still make reasonable profits! If you still want to own whole coins, you can try investing in altcoins. And remember the price of bitcoin tends to increase in the long run, so its never late and you make profits in the long run as long as you don't sell it for a loss, no matter at what price you invest in. |
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