I like the laser eyes meme, it's creative and funny way to express your support for Bitcoin. The fact that celebrities embrace Bitcoin (hopefully) without anyone paying them shows that Bitcoin slowly but surely gets more adoption. If 0.1% of Paris Hilton's followers will start researching Bitcoin, that's already great.
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There's actually not that much opportunities in crypto space. Bounty hunting is yielding pennies. Freelance jobs are very scarce and competition is big. There are some jobs for blockchain developers with experience, but those people are already aware of them, and learning it from scratch will take a lot of time. Starting your own crypto business is likely to fail, because people don't really spend crypto much. Mining is only great when there's a bull run and profit margins get very high.
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Lol I've been in the bitcoin community since 2012. It is clear you have no idea what you're talking about. Early on we worked on colored coins that did exactly this. I'm just wondering why no one has continued the work.
Colored coins technology was built without making any changes to Bitcoin's protocol, but continuing its development to be competitive with Ethereum ecosystem would require making changes to Bitcoin's protocol, meaning hard forks, and devs want to avoid hard forks at all costs. It's simply not a big priority for Bitcoin, Bitcoin doesn't need lots of features, it needs to be robust decentralized money.
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Now tell me please how is it possible to get rect if you, as big company, buy btc (without leverage) using 1-5% of your reserves as part of well diversified portfolio. I'm not saying that everyone will go all in now. Just small portion to be able to announce it to gather hype.
If you invest in bad time and lose 50-70% of your investment, shareholders would react to this very negatively. It won't ruin the company, but it will damage its reputation. Microstrategy put all their money into bitcoin and even borrow 1B$ to buy more. Investors see this negatively?? By pumping stock price 7 times?
And their stock will fall when this bubble will burst, or even if they will just start taking profit. And if they will refuse to take profit and just HODL, their stock might fall even harder. Microstrategy bought Bitcoin in good time, but the deeper we are into this bull run, the riskier it is to buy Bitcoin. The bigger the better since more hype they will have from bigger and bigger bitcoin hype. They won't care because profit for CEOs will go from pump on their stock not from bitcoin price change.
This would create a massive bubble that would end very poorly for most participants.
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So they invested 2 billion $ into bitcoin (they borrowed 1 billion to do so) and and earned 3 billion $ thanks to it.
Microstrategy didn't earn anything until they will sell their coins to take profit. If big companies would all start playing on a speculative and volatile market, many of them would get rekt, and investors would start viewing such moves negatively in general. Investing in stocks shouldn't turn into investing into BTC by proxy, that would be pretty bad for the economy if it started happening on large scale.
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Even the recent data showed that retail interest in Bitcoin is as strong as the institutional one. I just don't see how Bitcoin will become "institutional instrument only", unlike gold it's quite easy to buy outside of regulate platforms, so anyone can own it. And it's naive to think that institutions will buy all available Bitcoins, that would send price to millions and even the most hardcore HODLers would cash out some coins, crashing the price.
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Bitcoin is actually more similar to real physical coins than to bank accounts where money is just a number in a database. I present you - the Coin Analogy. UTXOs are like coins, they can be melted together into a bigger "coin", or split into smaller "coin". Satoshi is like an atom of a coin - the smallest possible part. Addresses are not accounts, they are more like mailing addresses where you send coins, so one address can hold many coins.
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bitcoin and altcoins are our greatest hope in returning power back to working middle-class people.
There's a huge difference between Bitcoin and altcoins. Bitcoin is a safe and secure network with proven track record, altcoins are mostly scams and wild experiments that lead to nothing. Any altcoin that claims to have some important use for society must actually prove it on practice, otherwise it's just words. How does Bitcoin give power to middle-class people? Its adoption is still very low, it's not replacing fiat currency. Exchanges are tightly controlled, so there's no cryptoanarchy going on.
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It always amazes me how someone can hold hundreds of thousands of dollars worth of bitcoin and yet still be so monumentally uninformed. He had to do literally everything wrong to fall for this scam. The slightest bit of knowledge or due diligence regarding any one of these steps and he wouldn't have fallen for this. But no, it's Apple's fault. People are so used to mindlessly installing apps, that they do it even if they are going to entrust this app with hundreds of thousands of dollars. They probably don't visit Bitcoin forums and never seen a topic about fake wallet resulting in massive theft, otherwise they'd take at least take some steps to verify the software that they want to use. It's also so stupid to hodl all your coins in one wallet, if that person had multiple wallets, they'd only lose a portion of their coins.
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If you're using a small local exchange that doesn't have KYC, chances are it also attracts criminals, so if your coins will be linked to it, the more reputable international exchange might become suspicious of you, especially if they don't know that the wallet you are interacting with is an exchange wallet and not some shady darknet marketplace.
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Welp, the major criticism from crypto-haters that you can't buy anything with Bitcoin just died a quick death.
Depends on how you look on it. This isn't the real Bitcoin you will be paying with, but PayPal's internal "Bitcoin", that you can't deposit or withdraw, only buy and sell on their platform. If this is the road towards mass adoption, then Bitcoin kinda failed, because it will be no different from fiat payment systems. The news that we actually need to hear is "29mil merchants adopt Lightning Network payments".
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Bitcoin adoption would need to increase by many orders of magnitude in order for it to pose threat to banks. Also, we're witnessing right now very specific kind of centralized adoption by big players, which isn't really bad for banks - banks could easily offer Bitcoin custody services and run fractional reserve banking on Bitcoin. Without masses actually using Bitcoin in p2p way, no revolution will happen.
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This is what money does to nerds: they then spend their time finding ways to reinvent the wheel! It is a very funny news but apart from that I do not see the point of modifying a Gameboy to allow it to mine crypto. Only a funny time killer for a nerd who does not know what to do during the day. Why are you so harsh towards "nerds"? The person who did this experiment had a lot of fun and probably learned a few things about electronics and Bitcoin mining. There's no better way to learn about something than to get your hands dirty. This experiment also shows us how insanely big is the gap between Bitcoin ASICs and all other computers in the world, in terms of mining. The general population still has a misconception that you can mine Bitcoin on your computer.
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Another bitpay like service is in the making it seems!
Not really, BitPay allows you to send them Bitcoin from your own wallet, while PayPal only allows you to spend Bitcoin from PayPal wallet, which you can only obtain by buying it on their platform, as you can't even deposit your own Bitcoin.
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Some people are so poor that they really have no money for investment, so you can't seriously suggest them to buy less food and spend those $10 to buy some stock that in best case will be worth $20 after some time. So, investing if for the middle class and the rich - the people who can afford to risk money and have time to wait. If it was possible to invest your way out of poverty, there wouldn't be so many poor people.
Bitcoin was a way out of poverty for some very lucky people who entered early and managed to hodl for years. This is a once in a lifetime opportunity, no other investment is close to that.
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Aren't ETH fees kinda high right now and tend to get high when there's a lot of trading activity? How's Visa going to deal with that? Or does the settlement happen in batches rather than for each individual transactions?
From this article it's not fully clear how all this thing works and what's the benefit for the users. But the fact that Visa is interested in cryptocurrency is pretty big, but I wonder if they will ever adopt Bitcoin.
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The reason I'm skeptical about about other software wallets like Exodus/Samourai etc is because I'll have to trust that their software wont be hacked, nor my mobile phone. While in Binance/other exchanges, they have a whole team dedicated to that.
Their wallets don't get hacked, your computer does. Coins get stolen from self-hosted wallets if you have a dedicated malware in your system. This malware could also attack your exchange accounts by stealing cookies and hijacking your session, stealing your email account, poisoning your DNS and so on. This is why hardware wallets and cold storage are considered the best option - if done properly, malware has almost no chances to get into such systems. In your case of hot wallet vs exchange account, exchange has most of the downsides of the hot wallet and a huge additional downside that "not your keys, not your coins".
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People don't really need to understand how it works, but what they should understand is Bitcoin's main properties. If people don't understand that if you lose your private key you lose your coins forever, that if you send transaction to wrong address, you're unlikely to get it back, that if you don't control the key you don't really control the coin, and so on and so on; then it's a problem that can lead to very painful experience.
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No one is going to give you legitimate trading signals. If someone can trade well, they will keep quiet about it and make millions. Those who give out free or even paid advice about crypto trading are most likely just participating in pump and dump scheme, one way or another. Trading is a zero sum game, those who win feed on those who lose.
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Pretty much all browser-based wallets should be avoided. The web ecosystem isn't known for great security, and Bitcoin has one of the highest security demands in the world, because the safety of your coins relies on the secrecy of a small sequence of bytes that need to be exposed to the software. Unlike with online banking, there's nothing that can stop suspicious transactions or revert back the theft, so just because millions of people use online banks or PayPal in their browser, doesn't mean that it's okay to do it with Bitcoin.
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