Whatever happens, plan yourself on how long you're willing to stay holding bitcoin. Long term is still the best decision while holding it just to avoid being worried with the current world events.
Also, there's the China-Taiwan tension and that's also something that we don't want to happen and sure the economy of most countries ties to the both of it will definitely be affected too.
Only the strongest will be able to "hodl" Bitcoin long-term. I usually "hodl" BTC no matter what. But not everyone has the guts to do it. When prices are falling at a fast pace, the first thing that comes into mind is to sell BTC to avoid losing all your money in an instant. This usually happens when you don't have the extra money to spare into Bitcoin. Imagine how negative the effects over Bitcoin's price will be once we enter a global economic recession. Most people will be so scared of investing into Bitcoin, that they will prefer Gold instead. There's also the issue of China's (likely) invasion of Taiwan, which could be a severe blow to both the world's economy and Bitcoin's price. I would proceed with caution until the mainstream economy shows signs of recovery. Just my thoughts  |
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I have that same note - one has the line that reads "2017 Bitcoin Document" and the other reads "2017 Ethereum Document"
The one I have with "2017 Bitcoin Document" is numbered A01 000000 and is marked as "sample" "test print"
The one I have with "2017 Ethereum Document" is numbered A01 000063, only 8 sequentially after yours
Cool. I guess your "2017 Bitcoin Document" note is rarer than mine because of the serial number. Not sure what would be the market price for these, but I'm guessing they're in the triple digits due to their scarcity (not being sold anywhere online as far as I'm aware). I've not decided if I'm going to sell it for BTC or hold onto it a little longer. The bear market has made Bitcoin quite an attractive investment, so it's most likely I'll be making an auction thread soon. If anyone else has additional info about these kind of Polymerbit notes, feel free to share it here. Thanks!  |
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I've noticed one of my Polymerbit notes have some kind of error on the printing. It's an ETH banknote, but it has a text which reads " Bitcoin 2017 Document". I was wondering if this error makes the note valuable or something. I'm not sure what the asking price would be, so I'd appreciate your help on this. Thanks in advance.    (click thumbnails to enlarge) |
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Does anyone know of any good non-custodial mixers besides those built into both Wasabi and Samourai wallets? There used to be something called "TumbleBit" back then, but it seems development for the mixing solution has been abandoned. Non-custodial mixers are often a better choice than centralized mixing services because you have full control of the keys (not your keys, not your coins). If Bitcoin Cash has CashShuffle and CashFusion, then why can't Bitcoin have various non-custodial (decentralized) mixing solutions? That said, if you know of any other alternatives to the ones mentioned before (Wasabi and Samourai), please let me know. I'd like to have a list of all the non-custodial mixers available just in case one of them becomes abandoned by the developers (like what happened with TumbleBit). Any suggestions and/or recommendations would be greatly appreciated. Thanks in advance. |
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It seems that the persistent bear market drastically reduced ETH's network congestion. Gas fees have been ranging as low as 17 Gwei to 30 Gwei on average. The native cryptocurrency Ether (ETH) has been declining like crazy in Fiat terms, so it would be a lot cheaper to buy NFTs or do other network operations than before. Assuming ETH doesn't go any lower in price, would now be a great time to get in? Or should I wait a little longer? Do you think gas fees will soar back up again after the crypto winter settles? Your input will be greatly appreciated. Thanks. |
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There's an app called "Sweatcoin" which basically pays you by doing nothing other than walking. Each 1,000 steps will be equal to 1 Sweatcoin. Back then, the coin used to be proprietary from the app itself. But lately, the company took the decision to launch it as a real cryptocurrency. Apparently, the new coin will be launching this summer to be later traded at crypto exchanges. This reminds me of a similar coin that used to pay people for walking called "MangoCoinz". It didn't turn out to be a huge success, so I wonder if this new coin (Sweatcoin) will have the same fate as its predecessor? What do you think about Sweatcoin? Is it worth walking/doing exercise just to get paid coins in return? If not, why? Do you think the project will have a future? Your input will be greatly appreciated. Thank you. |
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There have been talks among experts of a global economic recession taking place soon. The COVID-19 pandemic, the persisting Russia-Ukraine crisis, and several other factors will lead us there faster than you could imagine. Considering that the US Dollar is the world's reserve currency, anything that affects its value (inflation) will have a chain effect over other countries' economies as well. Now this could have profound effects over Bitcoin's price within the short term, as the crypto market "mimics" equity/stocks market's behavior. It's most probably Bitcoin will decline well below $10k, as the global economy comes to a halt. Or things could head in the other direction, leading Bitcoin towards new All-time-highs. The pioneer cryptocurrency has often been hailed as a "safe haven", so it should be able to serve as an alternative to Fiat during times of crisis. What are your thoughts?  |
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If you don't understand why the limit is fixed at 21 million, then maybe you should step away from Bitcoin because it is part of the foundation and contributes massively to the price. People who hold it are more comfortable because the supply is restricted and rather low. It also helps that it is a relatively low number, because it helps to beat inflation and there is a natural attrition rate of lost coins which will help. Why does anything have value in life? Because people have agreed to trade a good or service, in return for another good or service - it is how currency works. Instead of finding someone who wants your good or service, you convert it into a unit which can be traded in a general market.
Some things have value because people trust in them as a medium of exchange or store of value. Even though Bitcoin is often described as "Magic Internet Money", its value is based on the rules of supply and demand. That, and also the fact that Bitcoin is the most decentralized and censorship-resistant kind of money in the world, makes it an extremely valuable cryptocurrency. If the OP is asking why Bitcoin can't be based on something that has value, then he/she doesn't understand Bitcoin is all about. It's something commonly expressed by people who either hate Bitcoin or lack knowledge of it. Bitcoin's been doing well on its own (despite the ups and downs in Fiat terms), so I'd say it doesn't need to be backed by anything to hold its value for a very long time. 21 million coins will ever be mined, making the pioneer cryptocurrency a truly scarce digital asset. If you believe in Bitcoin, then I'd suggest you "hodl" it no matter what. Otherwise, Bitcoin is not for you. With how far Bitcoin has gone since day one, it's unlikely it'll disappear (or go to zero) anytime soon. Just my thoughts |
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Lot #2: 0.002 BTC  |
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The adoption of bitcoin is happening in a consistent manner. In the past we used to see opposition from the governments whenever cryptocurrency usage is promoted. Now the countries that are against cryptocurrency too have begun to use cryptocurrency and regulate it understanding the need and the increasing usage among the common people.
One the other side many ways of promotion and awareness are happening around. One of the region where the adoption is experiencing massive growth is the African countries. Binance have announced its awareness tour BCAT - BlockChain and Crypto Awareness Tour. This will go through certain regions and particularly concentrated on Southeast Nigeria, Uganda, Cameroon and Ghana. Already Binance through similar program have reached over 60000 Nigerians through different institutions. These kind of activities too will increase the adoption of bitcoin around the world.
Compared to what it used to be in Bitcoin's early days, I'd say mainstream adoption has increased by a long shot. But for the pioneer cryptocurrency to be truly embraced by anyone worldwide, some changes need to be made. Scaling issues, high price volatility, and lack of merchant acceptance is what's limiting Bitcoin's ability to be used worldwide. Slowly but surely we're getting there as governments adopt Bitcoin as legal tender. It's only been 13 years since Bitcoin's inception, yet a lot has been achieved within such a short amount of time. If Bitcoin has gone this far, how do you think mainstream adoption will look like in the next decade? Just my thoughts |
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Any excuse is valid to go against bitcoin for bureaucrats, so you can expect anything from them, doesn't matter how absurd it may sound. Even Wikipedia was forbidden from receiving donations in bitcoin by its own community for environmental concerns, now imagine countries which have their governments directly affected by bitcoin adoption among their citizens. That means fiat is losing territory, so are the central authorities, and of course measures will be taken to avoid this from happening. The point is that mining isn't the issue and never was, but it's the perfect straw man which fits the purpose of creating the narrative bitcoin mining is bad and evil, therefore it must be stopped. And without mining we know there isn't bitcoin (that is the point  ). Of course. Bitcoin will always have its haters. After all, there are powerful enemies that don't want it to prosper. I'd say Bitcoin mining doesn't harm the environment as much as banks and processing plants do. Some miners rely on green energy sources to expand their profit opportunities, anyways. No matter how you see it, you cannot deny that Bitcoin's energy consumption is not put to waste. The more energy it's consumed, the stronger Bitcoin will be against external attacks. Some governments have adopted Bitcoin as legal tender despite the "environmental concerns" from naysayers. I'd say we should "turn the page" and move on to what really matters most. As long as decentralization and censorship-resistance prevails, there should be nothing to worry about. Just my opinion |
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Their Bitcoin is still 2301BTC I see no loss here, how are they in the underwater while their bitcoins are still intact? All of us investing in bitcoin know it's a long-term investment, investing in future technology, so this process cannot be successful in a day or two, but must be counted by years. Bitcoin's devaluation is not surprising or out of the ordinary. No asset can grow forever without correction, when the market recovers, you will see what El-Salvador has done.
Exactly. You can't lose if you don't sell. 1 Bitcoin = 1 Bitcoin, right? Saying that El Salvador's investment is "underwater" is nothing more than a failed attempt from mainstream media and governments to scare away as much people as possible from Bitcoin. Believe me, the pioneer cryptocurrency has a lot of enemies that don't want it to prosper. Expect criticism, false propaganda, and misinformation in order to minimize Bitcoin's presence in the mainstream world. I think El Salvador's President has been doing a great job by buying and "hodling" Bitcoin during the bear market. Once prices start to skyrocket, the government will be able to have more money in its pockets (and possibly be able to pay off its debt). The effects would be so profound that other countries will be inclined to adopt Bitcoin as legal tender. Who knows if in the future El Salvador turns from a developing country to a developed one? Just my thoughts |
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It's time for cryptocurrencies to have strict and clear rules, it's been more than 10 years but cryptocurrencies don't have clear regulations yet, this certainly makes us worry about the future, as happened with LUNA which was previously ranked 10 with a price of more than $100 but only take a week to be under 1 cent.
Couldn't agree more with you, mate. With strict and clear rules, the whole crypto/Blockchain space will be legitimized for mainstream use. Investors will feel confident in the crypto market, just like they're confident with the stock market today. With regulations, scams and theft are reduced to a minimum. We cannot say the same when there's absolutely no regulation at all (as it would enable full anarchy on the crypto/Blockchain space). While regulations cannot be enforced at the protocol level (due to crypto/Blockchain tech's decentralization), it's still possible to regulate the industry by requiring centralized exchanges and wallet providers to comply with the law. It's only been 13 years since Bitcoin inception's, yet there's no clear regulatory framework for the whole industry. At least, there's interest among institutional investors and mainstream governments to bring the rule of law into crypto/Blockchain tech. As long as individuals and governments cooperate, crypto won't be going anywhere soon. Just my opinion |
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It looks like this article[1] has an explanation of why the USDD lost its peg a few days ago. It stated that there are 3 reasons namely: 1. Market sentiment 2. stETH was losing peg and then causing the chain of reaction (ETH – TRX takes a big correction) 3. USDD mint/burn mechanism You can read the explanation through the source link below It looks like algorithmic stable coins aren't as great as they boasted. Btw, if you are wondering how USDD works you can check this diagram  Specifically, USDD will be pegged to the US dollar, with 1 USDD corresponding to 1 USD. In the immediate future, the value of USDD will be backed by TRON’s TRX token. To get USDD, users need to key their TRX to receive a corresponding amount of USDD. In case you want to get TRX back, you just need to do the opposite.
[1] https://news.coincu.com/98915-usdd-depeg-3-reasons-why-usdd-lost-peg/Based on what you've described here, it looks like USDD is no different than Terra's UST stablecoin. This explains why TRON's stablecoin went downhill in an instant. If selling pressure continues, then it might become extremely worthless in the long run. That's what you get when you invest in an unregulated stablecoin backed solely by algorithms. The trusted third party is necessary for stablecoins to maintain their peg. There's no other way around it. By choosing regulated stablecoins, you can feel confident your investment won't go downhill overnight. That's because there are investor protections which prevents the issuing company from doing anything it wants. USDC and USDT may be the only stablecoins worth the investment as they've maintained their peg since day one (although USDT has been on the brink of losing its peg over the last few days). USDD failing will be a huge blow for Justin Sun's TRON project, leaving investors "rekt" in the process. I'd steer clear from it until the peg is restored. Just my thoughts |
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Paida paid Well received. Thanks! |
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There is only one thing that can be said: 1 Bitcoin = 1 Bitcoin no matter what. Bukele said that the country lost no value because they didn't sell. That's all. Period. And this a fact. You only loose in a downtrend if you have weak hands and sell!
Exactly. But most people don't understand that 1 Bitcoin = 1 Bitcoin, simply because they're determining its value against Fiat. As long as greed persists, we won't be going anywhere soon. How would "hyperbitcoinization" become a reality if people don't use Bitcoin directly for goods and/or services? Bitcoin is often seen as an investment than a real currency, so it's unlikely "hyperbitcoinization" will take place anytime soon. The day people switch to the Bitcoin standard, will be the day where the volatility issue will be gone for good. I'd say El Salvador's President is doing a good job by "hodling" BTC even during a persistent bear market. Fiat is bound to collapse because of ever-rising inflation rates, but Bitcoin will survive thanks to the way it was designed. With deflation in mind, Bitcoin should go up in Fiat terms sooner or later. Who knows if in the not-so-distant future El Salvador becomes a developed country with its Bitcoin "hodlings"? Just my thoughts |
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"Not your keys, not your coins". I don't know since when the saying was born but it has been repeatedly mentioned in cryptocurrency communities. It's bad idea to put your coins on centralized exchanges with custodial wallets (you don't have access key to that wallet). It's bad idea to send your coins to centralized lending platforms (like Celcius, 3 Arrows Capital ie.). You don't own key and they can disable withdrawal, apply for bankruptcy anytime. With this bear market and some disasters recently from Terra to Celcius, 3 Arrows Capital, it is very good time to learn this lesson and act accordingly. It is time to practice this lesson and protect your capital. "Not your keys, not your coins". Practice it, before it is too late to save your capital. Security checklistExchange hack timeline. Not all of them are real hacks. Some are scam exits. This is the golden rule when navigating your way through crypto land. If you don't have access to private keys or seeds, you'd risk yourself getting all of your coins lost or stolen in the long run. Most people rely on centralized exchanges and wallet providers because it's more convenient for them. If only they knew that without the keys or seeds they don't control their funds, they would've used switched to non-custodial or decentralized solutions already. We need to educate the masses in order to reduce attack surfaces as much as possible. As long as the majority has access to keys/seeds, the number of hacks will be reduced by a large margin. At least, crypto/Blockchain tech's popularity is rising. Who knows if people become more aware about securing their funds in the crypto/Blockchain space? Just my opinion |
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A wide range of virtual currencies have emerged over the past decade, such as Bitcoin, Lite Coin, PeerCoin, Aurora coin, Dogecoin, and Ripple. The most important of these is Bitcoin. In fact, this article allows to analyze the functionalities of Bitcoin as a new world currency, as well as its characteristics which can hinder its use as a medium of exchange, unit of account and store of value by comparing Bitcoin to standard currencies. Since its introduction in 2009, Bitcoin has also been characterized by a significant increase in the number of transactions and market capitalization, which exceeded 5 billion US dollars in 2015. This leads to extreme price volatility of Bitcoin against currencies. standards. In order to understand the reasons for such price fluctuation, the authors try to identify the factors of Bitcoin price formation. Ciaian, Rajcaniova and Kancs (2016) analyze time series using daily data for the period 2009-2014. They suggest that Bitcoin's attractiveness indicators and supply and demand function are the most powerful drivers of Bitcoin prices. On the other hand, macro-financial developments do not determine the price of Bitcoin in the long term. Thus, the authors find that Bitcoin price fluctuations are associated with speculative investment decisions. According to what proceeds, Bitcoin will not be able to compete with standard currencies. So the question we can ask : can Bitcoin become a global currency? check out https://roz-key.blogspot.com/2022/05/the-digital-agenda-of-virtual.htmlIf you mean Bitcoin becoming the world's currency endorsed by mainstream governments, then your answer is no. But if you mean Bitcoin being used anywhere in the world, then your answer would be yes. The Internet is everything Bitcoin needs to reach people worldwide. Even if governments don't adopt it as their official currency, people can still get access to Bitcoin with an Internet connection. This makes Bitcoin the global cryptocurrency for all. No one thought money would be accessible to anyone around the world, yet here we are. With built-in deflation, and a censorship-resistant network, the pioneer cryptocurrency will last a lifetime. Who knows if Bitcoin is still around with us even after governments launch their own digital currencies to the public? Just my thoughts |
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i dont understand why bitcoin has to be just base on people perceive value of it. and for someone to just artrarily fix the supply of them at 21 million doesn't make any sense. it should be able to contract and expand the # of bitcoins in existence. but because bitcoin is design very simplistically it is kind of like monopoly money. not backed up by anything.
Fiat isn't backed by anything either. It just has value because people think it has value. In the case of Bitcoin, its value comes from its decentralized and censorship-resistance design. Even though it's not issued by a reputable entity such as a central bank, the mere fact that it's sound money no one can shut down makes it an extremely-valuable cryptocurrency. Unlike Fiat, people are the ones who determine Bitcoin's price on the market. I'd say the max supply of 21 million coins is perfect for Bitcoin. No more coins will be mined, meaning there should be no inflation in the long term (which translates into higher market prices). Ultimately, it's all about utility (not the price). As long as Bitcoin works as intended, nothing else matters. Just my opinion |
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I dont see the benefit but you can checkout what these guys did... acdcnfts.com
This is not an endorsement. DYOR.
Now that's what I'm talking about. If only there were renowned companies into the graded numismatics bandwagon, mainstream adoption for NFTs would take off like crazy. I think what's holding companies from doing this is the ever-increasing gas fees on smart contract platforms (especially Ethereum). Some would say Solana is a better option for NFTs, but the platform is heavily centralized (not to mention that it's full of bugs). At least, the idea is there. Making it a success is another story. Who knows what the future holds for this emerging industry? Just my thoughts |
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