Crypto is prone to huge upside movements, so it's easy to FOMO when you're hoping to see some quick 500% gains. But when the price is crashing, the chance of those gains is disappearing, so people dump to cut their losses. So, overall it's not a losing strategy as long as you time it correctly and get on the winning side more than on the losing side.
We're also having an altcoin season now, and many people think that a lot more coins are still waiting to be pumped in a way Doge or ETH did.
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Fingers crossed that they don't use BitPay or some other crappy middleman that takes huge fees and only creates obstacles for all parties. But I don't like them jumping on the NFT bandwagon, NFT is such a bubble, it doesn't really have fundamentals, whatever people are buying doesn't really give them ownership over anything, as it's practically non-enforceable either via law or via protocol.
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"Mathematical puzzle" is simply a very bad naming. The word "puzzle" implies that there's is some sort of optimal solution to the problem that is better than just guessing. But miners are actually doing exactly that - guessing. They guess a number that when passed into a function together with block data would produce a valid result, in this case another number with certain amount of zeroes at the start. It takes very little tries to find a number that would produce a few zeroes at the start, but nowdays you need to get much more zeroes, so it takes a lot of tries. Mining hardware, aka ASICS, are computers designed to calculate this one specific function as fast as possible, so they can try billions or trillions of guesses per second.
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The market is very unpredictable and can turn on you anytime, but if you pay yourself, you won't have any regrets.
Many people who sold Bitcoin at $3 or $100 or $1,000 are absolutely having regrets now, even if they made thousands or millions at that time. With Bitcoin you either try to sell it at close to the top of bull market and buy at the low of bear market, or you just HODL for many years. It's different with alts - they can easily crash and never ever recover, so you indeed need to take profit and never look back.
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The community named it to be a much better version of ETH.
Of course a coins bagholders would say that. ADA is slowly building its momentum to be the best digital cash available summing up the scalability, high security, low transaction fees, interoperability and especially considering the backlash of ETH with current gas fees.
Ethereum's creators like Vitalik Buterin were criticizing Bitcoin for high fees and saying that Ethereum is more scalable. When they got hit with high fees, they start singing a different song and claimed that high fees are good. If a coin doesn't have high fees, it's either because no one uses it or because it's heavily centralized.
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It's better to not expect from people to change their opinions about anything, such things happens very rarely, because people don't like admitting that they were wrong. Warren Buffet will soon be dead and he won't see Bitcoin at the heights of its adoption, so no one would be able to tell him how wrong he was.
I think the fact that so many people in Bitcoin community take Buffet's criticism so close to their hearts shows how many people here are investors first and foremost. I wouldn't criticize them for that, but Bitcoin is not just an asset, it's a movement based cypherpunk ideals.
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I was wondering... When nuclear fusion becomes a thing in "the next 30 years", i.e., almost infinite and free energy production, what do you think will happen to proof of work? Will make the bitcoin consensus stronger or weaker?
Nuclear fusion has been in research for how many years? 60 or 70? It might never be possible on a commercial scale. But even if it will be possible, it won't give us free and infinite electricity, and even in best case when it gives us really cheap electricity, mining would still have other costs, so it's not like you're going to suddenly have a possibility to succesfully launch a 51% attack the day a fusion reactor opens.
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No cryptocurrency currently can handle as many transactions as Visa or Mastercard. Things like Lightning Network are still a work in progress, and a long time will pass between from now to their release, to adoption among users, and then to mass adoption. And scalability is just one roadblock, there's also price stability and regulatory uncertainty, difficult user experience and so on.
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Knowledge of how cryptocurrencies work does not mean that you will become a succseful crypto investors. Look at Dogecoin, it had no updates for 3 years, it's a very basic coin with no distinct features, all it has is a meme in its logo, yet it outperformed tons of coins that boast cutting edge features. Crypto market isn't rational, it's full of manipulation. The only thing you can be sure of is that Bitcoin will rule, because it has the most competent developers by far.
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Buying low and selling high is not market manipulation. Market manipulation is when you single-handedly move the entire market. This isn't the case here, Bitcoin was rising before Musk's tweets, and it would have risen without them too. And the amount disclosed by Tesla is not enough to be responsible behind this entire bull run. Also, you can't say that Tesla or Musk were trying hard to promote Bitcoin or make some false claims to investors about it.
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Is there any research to back these claims? I have never seen any papers that actually dive into depth and explore how much energy is clean vs how much comes from fossil fuels. These arguments that Bitcoin is killing the environment vs Bitcoin is saving the environment are just word against word. Except the fact that Bitcoin's use of ~0.1% of world's electricity means you can't really pin the global warming on it.
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How can stablecoins threaten fiat if they are fiat? And they aren't even decentralized, they can easily be fully regulated, because they all have some company that holds the fiat that backs the coins. It's not yet clear which kind of digital fiat will be more popular - privately managed stablecoins or government's stablecoins. A lot of people would trust government more than some company that can pull an exit scam or otherwise fail.
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If it becomes the pioneer of "Central Bank Digital Currencies", it might become the largest economy in the mainstream world.
Economies grow in size when people produce goods and service, not when the government prints money. Low fees and blazing-fast settlement speeds will make China's digital currency much more attractive than existing currencies. If the US fails to launch the "Digital Dollar" before China, it could lose its supremacy over the mainstream economy.
Currencies don't have fees or settlement speed, payment networks do. Even if digital yuan will have these things, there are other factors that will prevent its global adoption. Citizens of many countries will be suspicious of it, governments will limit its use, people don't have as much faith in yuan as they have in USD, existing networks are quite satisfying to most users, even if they aren't as fast/cheap.
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Your title sounds like "eating food is better than eating poison" ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Literally any legitimate investment is better than a Ponzi scheme, because Ponzi scheme is a scam that will leave "investors" with a guaranteed loss. People invest in ponzis ether because they don't understand that they are being scammed, or because they think that they are smart and will time their exit to get a profit.
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My self-question is, up to what point a successful launch of a digital Euro, versus a Digital Yuan and a Digital USD may increase the attractive of these currencies and thus could impact the exchange rate beyond the usual interest rates / inflation / import-export components of the demand for currencies.
We had digital Euro, USD and other currencies for decades. If you're using credit card, that's digital fiat currency. The only difference between these new projects and old systems is that now the government will be the owner of the network, so they won't have to request information from private companies. And if these digital currencies will be a public good, their fees might be lower than in privately owned payment systems.
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So far the devs avoided any decisions that would break backwards compatibility, and I'm sure it will be like that always. There's an example of backwards compatibility maintained for a long-long time - the web. Websites made with HTML and Javascript 20 years ago will still work on modern browsers. If they could do it, then Bitcoin protocol can do it too.
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Well, if this happens, the money will be locked for quite a while and you may have to answer to various questions. Only after they unlock the money it's yours again.
Depends on the bank and the country. I have heard about cases when bank decided to close customers account over suspicious activity and they sent their money to another bank account of their ex-customer within hours. If there's no law enforcement order, banks may not hold your money for long. But generally, it's better to be ready for anything, and contact your bank before you're going to withdraw a large sum from exchange. but keep in mind that most banks don't like Bitcoin, are afraid of Bitcoin and some may (still!) see Bitcoin investors/users as criminals.
To banks, a crypto-related transactions are as suspicious as cash transactions, and they can be fined if the government will prove that criminals used their bank for money laundering via crypto.
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E-gold and LibertyReserve were closed because of alleged money laundering. Binance is doing KYC and cooperates with authorities, so I don't see it being suddenly taken down.
I doubt that Binance's crypto investment programs are Ponzi schemes, Binance is a succesful company, why would they need to make an exit scam?
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Tesla buying Bitcoin made sense, because Elon Musk is quite an eccentric guy, but I just don't see Facebook doing something like this. When Tesla disclosed their BTC purchase, their stock fell a few percents immediately, I'm sure Facebook wouldn't want to risk such thing.
Also, Facebook showed anti-Bitcoin behavior in the past, they banned any ads that contain words Bitcoin or crypto on their platform.
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Just making meaning less memes on doge and pumping it hard is sheer foolishness even if he hasn't sold it till now
There's no proof that Musk holds any DOGE, and from what it looks like, he never actually had any intention to pump this coins. He just posted memes about Dogecoin, because he posts all sorts of memes all the time, and crypto speculators decided that it's a good reason to buy Doge, so the price went up and it started a feedback loop: more price growth -> more memes & attention -> more price growth You could say it's irresponsible from Elon to tweet about Doge, but I doubt he has any malicious or selfish intentions.
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