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2661  Alternate cryptocurrencies / Altcoin Discussion / Re: Elon Musk Tells His Mother Dogecoin Is Her Mother's Day Gift on: May 09, 2021, 10:17:12 PM
Unfortunately, some number of Doge fans will miss the joke and will think that he really gifted her some dogecoins. Because that's exactly how all this thing started - people started believing in Elon's memes that he will make Dogecoin the currency of Mars, or will at least accept it for his products or something, all while he never even confirmed that he owns any coins. Traders and speculators took it as opportunity to start the pump, and retail investors have picked it up, especially since the whole GME meme drama was so recent, and it's easy to draw parallels.
2662  Bitcoin / Bitcoin Discussion / Re: I'm now all in BTC. All eggs in one basket! on: May 09, 2021, 08:55:13 PM
If it's between going 100% BTC vs putting some money in alts, then putting all eggs in one basket is not a bad idea, because alts rely on BTC, without its bull market they wouldn't have gone anywhere.

If you have amassed substantial wealth, it's really important to diversify, Bitcoin is still a high risk asset, and the bear market will eventually come. I know its tempting to chase more and more gains by hodling, but IMO the most rational thing to do is to take some profit and put it in reliable assets like real estate, so in case something goes horribly wrong, you would still be wealthy instead of broke. Even if this decision would cost you millions in potential gains, if Bitcoin keeps going up with years, it won't matter much.

This is what I'm planning to do in this bull cycle.
2663  Bitcoin / Bitcoin Discussion / Re: Mixing your Bitcoin might become illegal in the future on: May 09, 2021, 07:52:43 PM
Well, governments can enforce the bans on mixers by literally making it illegal for such companies to exist and prosecuting anyone who offers such services. Surely, some companies would still exist and have their customers under such circumstances, but many people will feel discouraged to use something if it's explicitly illegal rather than in the gray area, so introducing such a ban could accomplish some goals. I personally wouldn't care much because I've never used a Bitcoin mixer, but I'm not sure if it's something that should be illegal. I mean, companies do it all the time when they want to hide something, and while offshore schemes are frowned upon (when a company is a part of a company which is in turn owned by a bunch of other companies), they don't seem to be illegal.

Mixers are not companies, they are online services that operate without any registrations and don't pay taxes. They wouldn't care much if they were outlawed, they are already hiding from the government, because government would like them to snitch on their users.
2664  Bitcoin / Bitcoin Discussion / Re: Snowden I own more bitcoin than anything else—but on: May 09, 2021, 07:33:37 PM
4) Privacy coins are great, but they're too small and too easy to smother via regulatory actions like de-listing from exchanges. Only Bitcoin has immunity-via-dominance to delisting. It adopting privacy-by-design instantly normalizes financial privacy. Ultima Ratio Cryptum.


Bitcoin delisting would be called "exchange ban". It's far less likely to happen now, as we get more and more adoption and even crypto lobbying is starting to emerge. But the governments have this power to stop Bitcoin if they wanted. Of course it would not be a full stop, but Bitcoin would essentially be underground money, like foreign currencies were in Soviet Union, for example. Not really a good scenario for mass adoption.
2665  Other / Beginners & Help / Re: Why people are scared to use their crypto? on: May 08, 2021, 11:11:00 PM
People aren't scared to pay with crypto, there's just nothing to buy with crypto. Local stores don't accept it, big international companies don't accept it, internet auctions and marketplaces don't accept it. If you want to buy something with crypto, you will be significantly limiting your options to a point where you'll have to get worse deals almost all the time.
2666  Bitcoin / Bitcoin Discussion / Re: Mixing your Bitcoin might become illegal in the future on: May 08, 2021, 07:53:05 PM
I doubt that governments are interested in regulating what people do with their coins, because it's unrealistic to enforce it, but they can tell exchanges and other services that accept crypto to refuse accepting mixed coins, or demand users to show their inputs before mixing. Or maybe they won't even have to, because exchanges already do chainanalysis and some even ban their users from using CoinJoin.
2667  Bitcoin / Mining / Re: How often does a solo miner solve a block on: May 07, 2021, 07:16:28 PM
No serious person would solo mine Bitcoin, it's a waste of electricity, you would most likely die before you see even 1 block. It's simply uneconomical to waste electricity if you could instead join a pool and make steady profit if you have decent hardware. And outdated hardware like those USB miners are not going to be profitable ever, the electricity needed to find 1 block would cost you more than the block reward.

You'll have better chances going to some crypto casino, as they offer 1% house edge or even less, that's much better odds than wasting energy on solo mining Bitcoin or buying lottery tickets. 
2668  Economy / Speculation / Re: At this bullish season, bullish person is always right? on: May 07, 2021, 06:59:49 PM
You're only profitable if you close your position at a profit. Tons of people will hold their Doge or whatever other altcoin all they way through the ATH and crash, because they believed in some "1 Doge = $1" hype. All bull markets will come to an end, and no one knows when will it happen, so the bullish predictions aren't worth much without it. When the markets will be crashing, the bulls will be saying "it's just a correction, trillions more in marketcap will come after this".
2669  Bitcoin / Bitcoin Discussion / Re: buying bitcoin and the seeming impossibility of keeping anonymous on: May 07, 2021, 03:03:15 PM
There are Bitcoin ATMs that sell Bitcoin for cash, though I heard some of them require to present documents. Otherwise, you can buy Bitcoin for cash in person, by finding someone online, but you should be really careful, because the chance of scamming or robbery is very high. Better buy small amounts multiple times. Any digital transaction like credit card or bank wire would leave a trace and authorities might be able to learn that you have obtained crypto, if that's a problem to you, cash is the only option.
2670  Alternate cryptocurrencies / Speculation (Altcoins) / Why is no one talking about shorting alts? on: May 07, 2021, 12:32:16 AM
It's hard to predict which out of thousands of alts will go up, but what you can predict is that once a coin went up, it's bound to go down. Like, take the best performing coin right now, Dogecoin, there's absolutely no justification for its price, it has no adoption or promising features, it's pure hype. It's bound to go down, so if you carefully short it with small leverage, you're going to make profit. Obviously, the danger is in the known trading wisdom - "the market can stay irrational longer than you can remain solvent", but still the fact that pumped coins will go down is something that you can rely on.
2671  Bitcoin / Bitcoin Discussion / Re: MARA Pool mined its first 'clean' block today on: May 06, 2021, 06:50:03 PM
If mining will get regulated in the future, it's likely that miners would only be allowed to join these compliant pools, so if 51% of hashpower will belong to them, it would be possible to establish censorship. But it seems like even now the regulators are ignorant of this and don't consider such option. Hopefully, by the time they will realize it, we'll already have better privacy on a protocol level, so such things will become useless.
2672  Bitcoin / Bitcoin Discussion / Re: Can bitcoin be hijacked by world billionaires??? on: May 06, 2021, 05:49:02 PM
"Hijacking Bitcoin" could mean different things. Simply buying all supply is unrealistic, just like you can't buy all the gold or oil in the world. Hijacking the course of Bitcoin development is more interesting, for example someone can introduce a new group of developers, create a contentious forks and try to convince Bitcoin users to switch to it. Something like BCH and BSV, but backed by billionaires, governments, etc. So far all these forks failed, because Bitcoin community is strong, but Bitcoin community changes with time, so maybe there is some risk of such attack in the future.
2673  Bitcoin / Bitcoin Discussion / Re: When you heard about Bitcoin vs. When you first used Bitcoin on: May 06, 2021, 02:37:21 AM
Heard in 2012. Even claimed some 5 mBTC from a faucet, but wouldn't count it as truly using Bitcoin. Only 4 years later I rediscovered Bitcoin and started using it for receiving money for my work.

It seems to be pretty common to have a big lag between first hearing about Bitcoin and using it, so there's still a lot of room for adoption. People who witnessed the 2017 bull run but didn't participate could be buying now, while those who only observe now could join Bitcoin after the next halving.
2674  Economy / Economics / Re: Could the digital Euro, Dollar or Yuan bank the unbanked? on: May 05, 2021, 10:41:55 PM
People don't become ubanked because banks refuse to serve  them, they choose to be unbanked because they deal with cash only, for example if they are unofficially employed, so if they receive cash for their work, and don't get enough money to need to put it in a bank, there's no reason for them to open a bank account.

Unless CBDCs will come together with elimination of cash, the unbanked people would still exist and not use digital currencies.
2675  Bitcoin / Bitcoin Discussion / Re: Philosophical or Analogy Question - Crypto to Internet on: May 05, 2021, 02:02:01 PM
The internet eliminated numerous middlemen e.g. travel agents and continues to do so e.g. real estate agents

Crypto is eliminating middlemen e.g. China's crypto will eliminate Whats app payment, credit card payments.  And the concept is expanding.
https://www.coindesk.com/japan-to-have-blockchain-based-stock-exchange-in-2022

Internet did much more than just eliminating some middlemen, it allowed many things that were not possible before. Online work, videostreaming, free learning resources, gaming, social networks, search enginges - all these things are built on top of the Internet.

Now, what's built on top of cryptocurrency? Tokens, NFTs, smart contracts barely have any uses in real life, it's mostly just a place for making money on speculation while there's hype.
2676  Bitcoin / Bitcoin Discussion / Re: Philosophical or Analogy Question - Crypto to Internet on: May 04, 2021, 10:47:57 PM
Internet is a fundamental technology, it forever changed human communication. It allowed everyone to access tons of information for free, instantly and effortlessly. It connected people across the globe.

Crypto isn't as revolutionary. It allows you transact money without middleman, so you can have full control over your money and better privacy. But most people don't care about those things, so they don't rush to start using crypto. They already have access to online payments, and the inconveniences of using crypto are not worth it for them.
2677  Bitcoin / Bitcoin Discussion / Re: Yahoo Hates BTC: "Forget Bitcoin: Here are The Crypto Assets To Follow" on: May 04, 2021, 10:33:30 PM
These opinion writers always make a simple linear extrapolation. If Bitcoin falls, it must fall to zero. If alts are rising, they must continue to rise until they are bigger than Bitcoin. Bitcoin haters will always find new ways to dismiss Bitcoin, even if it means supporting altcoins.

Or, in this case, it's just blatant shilling for DeFi and one altcoin called UNI. If someone investigated it, they could probably uncover a "donation" to the author from someone with a large stake in DeFi.
2678  Alternate cryptocurrencies / Altcoin Discussion / Re: Will Doge Success Force Bitcoin to Improve on: May 04, 2021, 10:01:23 PM
Why should Bitcoin care about Doge's bubble? Dogecoin's "success" comes from hype around Elon Musk's tweets, nothing more. It didn't have any updates in the last 3 years, and no one is using it as a currency in real life, and you'd be crazy to do it now because of this insane volatility.

The only succesful coins is actually Bitcoin, because it's being adopted as a store of value by both private individuals and institutions. When will Doge be used as a reserve asset? Or even Ethereum, that promises to flip Bitcoin soon?
2679  Bitcoin / Bitcoin Discussion / Re: how many more years our bitcoins will be save from quantum supercomputer on: May 04, 2021, 07:25:44 PM
Bitcoin uses the same cryptography that your bank uses, that the military and government uses and so on. So, theoretically it could do way worse than stealing your bitcoins. But cryptographers have developed quantum-resistant cryptography decades ago, so far it's not being widely adopted because it could be slower than the current standards, or not yet as tested as other algorithms. Eventually a new quantum-resistant will emerge, and I'm sure it will happen long before quantum computers will be a real threat.

You really shouldn't worry about such distant future and instead focus on securing your coins against malware or $5 wrench attacks.
2680  Bitcoin / Bitcoin Discussion / Re: When will the Fiat slaves from Old school Investment companies get Bitcoin? on: May 04, 2021, 06:15:41 PM
You're replying to their concerns from a point of view of a retail investor, but institutional investors have to play by the different rules. Regulations are a concern to them, if their government would outlaw Bitcoin tomorrow, they wouldn't want to risk breaking the law. Storing and using crypto is another valid problem for them, if they don't know how to do it and can't hire professionals, then the risk of hacking or catastrophic mistakes is also there.
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