I seen that cryptocurrency want to be highjacked by rich people, looking around countries currently, its noticeable that bitcoin increase everyday, every week and every months, the more rich people are investing with cryptocurrency the more government attacks cryptocurrency, most countries that values crypto today is having challenges with government, since bitcoin is important to the extent that top people invest on bitcoin why can't government alone adoption of bitcoin.The Rich's are causing eradication of cryptocurrency
Across the world.
* If I many ask what is the major reason while some countries ruling class ban bitcoin transaction?
* What is the negative effects using crypto as currency?
* what harm does bitcoin contributes a country that can lead to ban?
To answer your questions, First, the reason behind banning cryptocurrency in one's country is mostly because the government does not want its citizens to achieve financial freedom. They want their people to rely on them and to the opportunities, they are giving them. They don't want their constituents to patronize a digital currency more compared to their local currency. The government is threatened in every way crypto can take their people's trust and funds. Most of the politicians are greedy. They want the good all for themselves. Second, using crypto as a currency will be quite challenging because right now, there are very limited establishments that are accepting payments through cryptocurrency. The legality of crypto and the taxation plays a great role in why it is disadvantaged. If you will use crypto as a currency most especially to those countries that are not open about it, you can experience some trouble. In addition, most transactions made with crypto are time-consuming and require a little more transaction fee than usual. You'll have to bear in mind the processing time it will reflect and the fee depending on the network and exchanger used. The convenience isn't much really felt, although they are looking into improving it for sure. Lastly, some people use bitcoin and crypto, in general, to make their way out to money laundering. This is one of the things the authorities are avoiding to happen as much as possible that is why most centralized exchanges require KYC to verify their clients' profiles and to secure that they are not doing some illegal activities. It's easy to money launder when your transactions aren't really monitored because it is decentralized. Hence, some countries decided to ban bitcoin to avoid such conflicts. |
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Hi! As a newbie I am very enthusiastic in learning more about the crypto system. I have read a number of articles and a bunch of posts in this forum about the bitcoin phenomena (if some of you would agree). Since I have not yet started earning as a newbie, maybe some of you would be open as to what is the highest figure you have received in your bitcoin transaction. This would really motivate a lot of newbies in learning the potentials of bitcoin.. Thank you and God speed.  We have different gains according to our strategy, patience, risk management, and the likes. It really differs on how much we will gain depending on how we will execute our plan in investing and trading. Good numbers are nice motivation to start yourself with. It's nice to feed your mind positive thoughts and ideas anyway. However, you must still also explore the other side of crypto which is about losses so that you can avoid the mistakes they have done and learn from their experience instead of experiencing it first hand. That way, you can start your crypto journey in a stable manner. Just do your own research before diving into anything with money involved in general to avoid regrets, being scammed, and having losses later on. You must equip yourself and be your very first investment. Invest in knowledge and skills so that you can utilize every resource you have to its limit. |
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Question
The price of gold fell 10.5% since the beginning of the year, but the price of Bitcoin gained 332%. Bitcoin, in the same decade, has returned 146% annually, compared to gold's 0% per year. Is it really necessary for us to still debate which of the two is superior?
Here are my thoughts
A valuable store of value and medium of exchange, gold has been around for five thousand years.
Despite Bitcoin's success, do not let your enthusiasm for it turn into arrogance or (worse still) stupidity. In addition to bitcoins, the world values many other assets, including gold and oil.
How do you feel about this?
Both gold and bitcoin are good investments. I believe that they have their own purposes and it's still much better to invest in both rather than in just one to diversify our funds. Gold has so many uses in different aspects and fields. Gold has been used in different things such as electronics, jewelry, machinery, chips, and the likes. It has proven to withhold its value too despite the inflation and time frame. Hence, a worthy investment if you'll hold and invest in it in the long term. Meanwhile, bitcoin has exhibited growth for the past years. It has shown its potential and has withstood the test of time making it the king of all coins in the past and at the present. I must say that bitcoin is a nice speculative asset that offers a big opportunity to most of us. This is a great investment for the long term just like gold. It's just that bitcoin is completely digital unlike that of gold. It is also highly volatile which is why we should always be cautious whenever we want to buy and sell. In investing in bitcoin, you must know the risks first. High risk, high reward. However, you should invest responsibly to avoid losses. |
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A discussion to express your views and perspectives on the future economic fear between two class of people in the society, the rich and the poor.
-I have often heard that there's an even greater fear with getting money, who do you think has more fear about the future?
(A) The Rich man who has tasted the good things of life and enjoying the best, now he has to face the fear of the possibility of suddenly loosing all he possesses and becoming poor? Or
(B) The poor man who has not enjoyed anything in life yet, just surviving and facing the fear of an unknown future, thinking if he is ever going to be in a better position or the suffering is going to continue?
I think both parties have their own set of fears about the future equally. It's just that, it varies to what extent and on what aspect they are fearing the future might be. For the rich, they fear that the future might take away their assets and funds. Although, I must say that despite having this fear, they have the advantage to move and act to prevent such losses and damages on their hard-earned and inherited assets. The rich are privileged enough to be ahead of the news compared to the lower class who just rely on what the media releases. The rich have the connection and broad network they can utilize to be aware of almost everything that concerns them. On the other hand, the poor mostly fear that they'll have no future to look forward to. Most of the poor people are barely making the ends meet each day. Lack of education and poverty hinders most of them to achieve their goals. As result, they are living the bare minimum or even below the poverty line. Most of the documentaries that I watched talk about both how hopeful and hopeless are the lower bracket of society. So, there it is. I think it's no brainer to ask who fears more than who because we have different struggles in life after all. What seems big to you might seem petty to some, and vice-versa. It's just a matter of respect and how we plan to overcome the monsters inside our heads to achieve our aspirations and plans in life. |
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If that is true, we will have a third country that accepts Bitcoin as official payment. This is great, hope they have a better way than El Salvador to pass and educate people to use. As far as I can see, their passing of the Bitcoin legal tender law happened quickly and left consequences such as the smashing of Bitcoin ATMs and a small wave of protests among the people.
Indeed if Paraguay will follow the step of El Salvador on adopting bitcoin as their legal tender this will be another good news for our community because mass adoption is slowly creeping in. Bitcoin being a currency is a fulfillment of its original purpose aside from it being an investment. Although this news won't totally stir the market unlike if big countries will do it, still it's a positive one if ever this will really happen because this just means that these countries are seeing the potential of bitcoin. Maybe later the developed countries would come to their senses as well and see its benefit just like the countries making a bold move to adopt it in their place. Although yes, there are repercussions in implementing a law about officially adopting a currency particularly bitcoin in a country just like what you have said. Protests and bold movement of oppositions such as destroying the properties of the government-related in btc can possibly happen. We can't please everybody after all no matter how we try to educate them about bitcoin's advantages. |
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Hello. All. Actually first I come in this space (crypto) in 2017 where btc was $1.8 K to $19K. Right Now Btc is approx $35K.This was really a very interesting exp. for me. Today, i was though t Crypto should be in the Syllabus of students all over the world because there are lots of opportunities in this pace for Young Generations.
What your Opinion for the same?
I think financial literacy, in general, should be included in the syllabus of students around the world. Financial handling should be taught at a young age at home and should be continued to be taught upon in schools whatever degree the student plan to take in the future. Financial knowledge plays a great role in developing how we would handle various situations involving money, properties, and other valuable assets. By teaching this to the students, they will become well-aware of how to manage their finances well in the early stage of their lives. They can avoid unfortunate and unpleasant scenarios such as going bankrupt, having so many debts and loans that are technically unnecessary in the first place, anxiousness about money matters and the likes. If they would know these things, they will have the knowledge required for investing in different investment vehicles that could help them generate profit such as stocks, real estate, gold, and crypto without having to lose a huge amount before gaining. Hopefully, the government of each country would see this so that the younger generation can do better than the older ones and not repeat the same mistakes the elders did before. |
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I think the safest way to store your holdings in btc is by keeping them in cold storage. In this way, hackers won't be able to make their way to compromise your funds in traditional means of hacking just like what most of them do. It's better to put your assets in an offline computer, flash drive, or hard drive to secure it won't be stolen. While this proves to be one of the most efficient ways to secure your cryptocurrencies, securing in cold storage has its advantages as well such as deteriorating of your chosen cold storage over time (e.g. computer), so you should do your best to maintain it well in the duration you plan to hold and store it.
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I now see a situation that the world is changing and is coming to a level where if you don't have a covid-19 vaccination clearence or means to verify that you have been vaccinated or have received the latest jab of the vaccine, you won't be allowed to buy or sell. I had in my mind that face mask was going to play this "devil's advocate" but no, the vaccination is getting serious with huge restrictions and therefore looking like it is the devil's advocate.
Apart from the many countries that have been making public statement about the need and compulsory nature of taking the vaccine, I heard in the news barely 24 hours ago about America making it mandatory for big company owners to be vaccinated and show a prove of vaccination of their employees. This is more serious with America taking such steps to ensure compliance , more countries will follow this direction and gradually it will get to smaller businesses, SMEs and then to restrictions on entering banks, malls, fuels stations and etc which will replace face mask. Covid-19 Vaccination is becoming a serious phenomenon and even in Africa and Nigeria, it has started gaining grounds even as the doubt of its existence or and severity is still in doubt from larger percentage of the population.
It's not really impossible for countries to later require covid-19 vaccines to their citizens to be able to do the things they are used to doing prior to the pandemic. Right now, every country has a specific target population to achieve herd immunity from the virus. I think if their targeted population won't be achieved by the time they have set, it's possible for them to impose mandatory vaccination for every individual. Although maybe this would be enclosed to those people who have jobs and maybe for the students. Who knows? The government of each country is to decide for that. We just have to wait like we always do. Hopefully, we will overcome this just like other countries that are back to normal now. |
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Everyone’s wish is to have a good and dream future which is more brighter than any other thing else, but by so doing, some loose the ones they have gotten already while others tends to gain more and add to their fortunes, thereby making them more famous and relevant. The Bible said “Hold thou fast which thou has” so there is no justification for you to loose the things you have gotten but this don’t always stand as some people are ready to gain even the one which you have accumulated for yourself. In my life, I feel better to gain than loss because;
1.Winning and gaining is what am in this life for
2. Gaining will make me more relevant in all endeavors than to loose
3. For me to get engaged in many things, then my mindset is determined already
on gains
4. I say yes to the pains because no pain then no gain, therefore I should have
more.
In the process of achieving our goal, there are really tendencies that we have to sacrifice some things in order to get what we want and to be where we want to be. It's just a matter of priority. What weighs more than the other, we have to let go to grip the other. Although we can still gain without having to lose anything by planning strategically to mitigate losses of assets and funds and of course, by having the privilege of achieving things without the need to sacrifice anything we have. Some people are lucky enough to gain without losing, while others have it tough before they manage to gain anything and both are fine as long as acquired with integrity. |
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I was just reading a report about BTC , A USA family sell all there assets and with that amount they invest in Bitcoin in 2019. as in 2021 BTC was on its peak ! So they get huge profit.
But as a dump then came in crypto market, for every investor it was really a great shock.
What you people say about this topic ?
Should we invest just like them or should start with a less amount ?
as Bitcoin came down in past months . it can be a great loss for those who invest madly !
Must drop your suggestion !
Invest what you can only afford to lose. Risking everything you have to buy a speculative asset that is highly volatile is a very dangerous move because we can't really tell exactly if that coin will appreciate or depreciate the moment you need your funds in cold cash already. If you're going to invest, set your limit and boundaries. Do not be so obsessed about it because you can end up being broke later on if you will not be strategic and if you will disregard risk assessment and management before and during your investment. Diversify as much as possible because it's a great strategy to maximize your cash flow. Do not be impatient, but do not be greedy as well. You can start it off little by little if you prefer or you can start it big time too. Just make sure that the money you will invest is the amount you will not be depressed on if things don't go the way you planned them to be. |
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Ever noticed how people would boast or proudly proclaim (or at least used to) that they invest and trade stocks, but they don't feel the same way about crypto, as if it's a secret never to be shared? Why is that?
I think it depends on where you live. Here in our country, I can freely talk about cryptocurrency with my friends, family, and relatives. I must say people are gradually being knowledgeable about how crypto works and they are being open about it now compared to before. Although there are still close-minded people that you'll encounter personally may it be in flesh or in social media platforms that are still naive and have the wrong perception about crypto. I guess we can't really just please and educate everybody no matter how hard we try because some are just totally not cool with it despite the facts you would lay before their eyes, and that's totally okay. It's not our loss anyway. But to answer your question directly, I think the location you reside in really matters on the level of perception of people about crypto and stocks. If crypto is one of those 'err' topics in your country because of its legality state and reputation, expect the people would be raising a brow on you for talking about crypto. Hence, our fellow crypto users would rather just their mouth and let their funds speak for them. On the other hand, if your country is open about every investment vehicle there is, I think people would be more open too in talking about either stocks and crypto because both generate income and profit depending on how you utilize it. |
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If you are going to use a big exchange in the future then you will need KYC. The only other way to get BTC will be on the black market. Would that put you off?
I think a very small population of our community is concern about privacy nowadays. Most exchangers really require KYC, hence, we have no other option but to adhere to the rules and policies that our chosen exchanger imposes. Otherwise, our movement in trading such as buying and selling cryptocurrency coins will be limited. There are certain categories on which we may opt to verify our account, if you are uncomfortable of undergoing KYC, then don't do it. But also know the possible consequences if you won't undergo such. It's just really a matter of sacrificing for the short-term or long-term. We just need to choose our hard. There are risks and disadvantages in both options anyway. |
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I think this is gonna be like a street fight since neither of the two are boxers, but this is interesting, especially since Devon is fighting, I bet he has a lot of power in his punch compare to his opponent. I don't but this kind of matches gets in trend, since Logan Paul first boxing match, then other YouTubers or famous people started to join the trend. No matter what their reason is, this is gonna be fun to bet since we don't know who is the best puncher.
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B is much fair rather than A in my opinion. Playing with other players means that you're up against something you know that is much weaker than the house, even if it is a pro player, unless that player is with the casino, then most likely you'll lose your money no matter how many tries you'll make. Playing up against a house is like fighting a boss in a game while you're just a level 1 character, that's why you don't want to compete with the house.
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Betting is not bad as long as you limit yourself on it, however, you'll never notice it became your habit until you've lost too much on it, that's when you'll think of a plan on how to get rid of that addiction. Getting into the gambling world at a very young age is not a problem, because you'll easily admit it and will eventually ask for help compare if an adult get addicted on gambling which is hard.
Adult mostly have a high pride, they'll never admit that they are in a very critical state (or addiction) because their mindset would always be "I'm too old and I can take care of myself, I don't need help" something like that, that's why they are hopeless case most of the time.
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With what you think currently, Crypto currency is one of the major things I think, that has contributed greatly to the growth of a country economy.
It will be totally improper for a country to channel all of its or their sources of income in one direction,the government kicking against crypto currencyus not right and fair from my own perception.
Diversification of economy by not focusing mainly on one major source of income boost and increase the economy to a large extent, as well limiting the losses....in a country tourism, technology, Agriculture and Sports mainly football will grow and boost an economy vastly.....why some Countries suffered during the Covid 19 pandemic is all because they focused and operated in one section to generate income, so boosting of an economy can also be achieved in different ways including crypto currency.
It wouldn't be bad idea if Y'all can share your thoughts and ideas about this from your own point of view.
I beg to disagree. Cryptocurrency isn't really one of the major contributors to economic growth. Most countries aren't even open with the idea of welcoming crypto in their place, hence, invalidating your assumption right away. It can be one of the contributing factors, but I doubt it will be on the top spot because most countries do not really rely on volatile and speculative assets. Right now, the majority of the countries all over the world are relying on different aspects and field of industry to make their economy grow. For instance, the countries in Southeast Asia rely on their agriculture, fishery, tourism, big business, and macro, small, medium enterprises. Although despite this, crypto really paved way for giving the citizens opportunities to generate income amidst the pandemic, which is a good thing because people aren't only relying on the government alone, but also have a source of income on their own. Crypto can be of great help, some countries have seen that already and I hope more countries would see it too. |
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Must we give a reason for scammers to continue scamming us?
The insensitive increase in scamming activities over the decades has been on the increase in most parts of the world.
People have attributed this increase to several factors and yet, despite the awareness gathered, the trend still strives.
One will be eager to ask ways scammers get this done and the ways are:
1. Through your contacts
2. Through social media platforms
3. Through manipulating your electronic mails (email)
Following the increase in this, it is important and necessary to avoid this by;
1. Always do well to avoid too good to be true messages of you winning a prize for what you are sure you never applied for
2. Emails that are linked with your financial affairs should not be used on almost all platforms and links.
3. When you do POS transactions or purchase, ensure you are conscious there are no smart play with your credit or debit cards.
4. Be updated about the lattest trends and techniques been used by scammers in everyday life.
5. Never let greed control you, as greed makes you prone to been scammed.
6. Mind those who you give your phones to make calls and contacts to people you don't know.
7. ALways be conscious, or better still, avoid connecting with Wifi networks as this is a means of extracting your data.
8. Always remember to log off your personal accounts (emails, social media) etc. when you use public cafe' and
9. Report any problem associated with the loss of any of your financial institutions to your banks.
10. Be able to patiently read terms and conditions before saying yes or accepting terms and conditions sent to you.
Lastly
11. Be able to cross-check emails sent to your phones regarding your financial statements as the messages are clone to,
resemble your banks, but rather having slight changes mostly at the middles with one word having different fonts.
N/B: Be responsible and protect yourself from being scammed!!!!!!
These things just require common sense, but I don't get why some people are still falling into it. I guess common sense isn't really that common, huh? If you have assets in your phones and computers, you should do all the best way possible to keep it safe from hacking, phishing, and fraudulent activities. By doing those, your assets will not be compromised. I notice there are really just gullible people out there that easily believe anything they are offered with. I've read so many posts regarding being scammed and being hacked, and they all have a common denominator - falling into too good to be true scheme and not being careful enough to check what they are clicking. As much as I don't want to victim blame, I can't help but do it since most of them do not really learn their lesson well from the experience of other people and through the warning signs given to them. I just hope there would be no more people to fall victim to these evil scammers and hackers. Secure your funds well and always be extra careful. For those scammers and hackers out there stealing the hard-earned assets of innocent people, remember that all of the things that you have stolen, you will pay tenfolds more. Karma is a bitch. All of you evil people taking advantage of the good ones can choke. |
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I am new to bitcoin and come from a third world country. One of my friend told me a company came telling all to invest 150 USD in an scheme and then they can earn daily about 6-7 USD regularly by watching ads for the rest of their life. My friend earned 6-7 USD everyday by watching an ad of 8 minutes. He got paid instantly and also told me about the Binance mobile app. This worked for almost 1.5 months. Then the company disappeared. Those who invested lately couldnt get their money. I want to know how this process works. How is this related to bitcoin and how can one earn just by watching ads ?
Sounds like a Ponzi scheme to me. You see, when something seems too good to be true, it probably is. There's no easy money nowadays. So, if someone offers you such a thing, immediately check if the company is legitimate and licensed. If it isn't then there's no point in investing in it. You'll just waste your time, effort, and money. Most scams usually target vulnerable people. Those people who are just always game with whatever is being served with them on a plate are the usual victims because they trust easily. Scams like these work like pyramiding. They promise great returns to their prospects. Sometimes they really pay off their victims at first only to gain their trust, then after they garner more investors and money, they will vanish in a snap, like a bubble that suddenly disappears in thin air. Just like what happened in muyan66 whereas many people have fallen for. After having many investors, the site suddenly disappeared leaving the investors in the dark. It's very unfortunate for those who went all in. I've read stories about it and it was heart-wrenching for the victims because they won't be able to get their money back no matter how they wanted to. |
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I just don't get why people resort to such horrible things given that it doesn't really affect them at all. Why do these people even bother to cause such damages when in fact bitcoin didn't do anything bad to them? If they don't like bitcoin, they have the option to ignore it and not use it instead. After all, bitcoin as legal tender in El Salvador is just another alternative mode of payment. As far as I know, the citizens aren't really required or mandated to use it. So why waste energy on something that doesn't really affect you personally and basically not doing any harm to anyone? This is just so uncalled for. I think these people are just insecure about bitcoin's potential. They fear that bitcoin will surpass the dollar so much that they went far as destroying bitcoin ATMs. People are just really pure of greed. When they see something that goes against them or to something they believe in so much, they destroy it before it even skyrockets. I just hope they will fight fair and square. |
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It's quite surprising how people still consider gold a more profitable investment than Bitcoin. Guess they're not familiar with the saying, 'the higher the risk, the greater the reward'. Although this doesn't mean you should go taking uncalculated risk as that'll be a deadly move that could cost you all your funds. Bitcoin has shown time without number that it's the better investment vehicle than Gold and it just did it again Just came across this article and think it'll be best I shared it here for the doubters still hoping for their previous metal to recover while they keep on missing out on the chance to partake in one of life greatest innovation. Guess there's nothing left to be proven again for bitcoin and it's safe to say it has outperformed Gold in all angles. I would prefer my investment in an asset that could give me higher double digits gains than an asset that can barely gives strong double digits gains and yet been called the safe heaven when it also poses same risk of a lost in value during trying times. Bitcoin and gold are both great investment vehicles. They hold so much potential, no doubt. However, we must also take into consideration the different perspectives people have in every situation. Like what they say, to each his own. We view things from various angles. Everyone has their own opinion and reasons why they prefer gold over bitcoin and we must learn to respect that. Just because we see bitcoin as the king of almost every investment there is, doesn't mean that other people will view it the way we do. We have different preferences and we differ in risk appetite as well. Some people just really prefer stable investments rather than volatile ones. Not everyone possesses a strong heart as we do. Some people bother and worry so much about the dips, hence, they decide not to invest in something that will cost them their mental health. It really just boil down on doing what suits us best. After all, it's our funds and assets to begin with. |
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