Well the bill being talked about is "supposed to be launched" in the Winter parliament session which is in December. December is still five days and we are already watching FUD crop up from some news media channels. Possible attempt to manipulate the market, after all the press is free and the market is unregulated.

Keeping that aside, anyone got any wind of what this new classification of "Private crypto" stands for? I am guessing the counterpart will be "Public crypto" and going by the normal semantics, Public crypto will include the decentralized currencies.

I hope these guys know what they are doing, or we are going to end up having to add another classification system in this asset class.

I am optimistic about it, I assume they are going to put in taxation on sell orders and KYC the users, fine by me. If they start their own national crypto, I doubt the community is going to take that in, and we all know that community is everything in crypto, so they will suffer from their decision.

Would like to know what you are considering as fundamentally strong? or is your judgement fundamentally wrong. If you assuming altcoins as your candidate, then more than 99% of attempts your will bring up a fundamentally weak asset.

The only asset which is fundamentally strong is Bitcoin. It has a basis to run deflationary, it is decentralized and censorship-resistant.

Techno potential or a lot of vaporware? Back in 2009 people used think 2021 would be the age of overlapping highways and flying cars. Did that happen so fast? Nope, but in progress anyway. Same here in crypto. No specific tech can be huge, but they will all have ups and downs. You have to decide what comes as a competition to bitcoin, even remotely. Only such currencies can survive multiple bull bear cycles.

Developers and the team running the marketing may be different and if has been no such division of labor among the team and one guy is basically doing everything, then there is a high chance the project may just be a scam. Devs are rarely involved in the payment process. It usually comes from the marketing fund to the manager to be distributed.

We have seen escrows getting rouge but very rarely. But the bigger problem is that if a bounty manager is not accepting the project without an escrow, the team will offer the job to someone else. There will always be some low-income country manager ready to pick that up and eventually play a puppet role in the scam. It is not their fault. But participants should be aware of this.

Heh, in reality the advisors lock in period becomes the issue here. They dump as soon as their lock in ends.

The money held by bounty funds is a minuscule percentage of the total token distribution and even that cannot move the price to that extent.

This can only be done by dumping from some bagholder, namely the owners or the advisors.

I would not recommend such a livelihood. If you have a day job, keep working on that and keep trading as something new to be learnt and practiced in hobby time. Not something to go for fulltime. Trading is not a job, it is a risk-vs-reward action while your day job is at least a guaranteed daily/monthly income.

Stress exists in all type of decisions, it only depends on how you react to it.

But in general Bitcoin Long term>Bitcoin Short term>Altcoin in terms of peace of mind.

If you are type of person who get irritated at every small decrement of price and has to compulsively check prices every second, then trading is not for you. These mental problems may happen after you start trading too.

How you handle your assets if your decision. But it is important to have a backup income option in hand when you are turning your primary earning into a speculative one, it helps calm the mind in times of anxiety.

Try paper trading for at least six months before you put in any real money in trading.

If there was no greed, there would be no speculative market, like I said in my previous post.

These problems are basics of trading, you dump when the market rise and you buy when the market dumps. That is if you have belief in your asset and that is very easy for bitcoin compared to any altcoin or any fiat stock for instance - Bitcoin is not going bankrupt anytime.

But choosing when you exit is an important step too. You should reduce how much you are going FOMO, not buy when others are buying and exit at the top or near-top.

This is not difficult, you need some practice to keep emotions under control and in a few months you get the hang of it - if you dont, then trading is probably not for you. Not everybody has the mindset for trading and you should not blame yourself for it.

An unregulated market will become a scammer's breeding ground. Since there are people who make money by running these scams, they will get the rush whenever they get money like this and they will continue such schemes without having any remorse and sleep soundly at night.

Some fault also lies in the way common users depict the newly launched altcoins - they tend to be lenient towards them once a while and that is what the scammers want. For someone who understood the truth that 99% of the altcoins are copy-cat money grabs, this is not a problem.

Using one project's success to name a new scam is an age-old method of scam. Fact is that most red-pilled newbies dont do any background research on what they are putting money in. But they like to take risk and so they get into such projects.

Two of the typical scamming tactics these guys have also used like their predecessors:
1. Using a list of transactions as recent withdrawals. Used to be very popular with the bitcoin doubling websites at one time.
2. The certification, which is just too easy to create.

A certain news blog like website has posted the site to be caught by SEO for people looking for this site and they very nicely missed out on the legitimacy of the site but did not forget to include their referral link.

I hope someone looking for the scam known as chainmine will now get a link to this forum too and it will click those dormant grey neurons to suspect that without a real mining farm that can be put in that address mentioned, the project has no way to mine with such hashpower and thus very likely deceiving its users.

People come with their own interests and not to make their friend happy. The latter can happen but then they will leave the forum very soon too.

I dont think the number of such users in many countries are high that one can just walk in their neighborhood and ask "who loves bitcoin" and get a overwhelming "Me, Me, Me" response, rather "its a scam!", "crypto is fake" responses.

Dont want to sound racist, but there are certain populations that bring in all their family members to make accounts as many as possible just to defraud campaigns. Have you tried looking to the "Reputation" section for alt accounts. Who is going to take the time to verify every such sign up?

Any type of incentivization should be avoided. This forum already gets a lot of traffic and this is not needed.

It might have, if we had an army of workers alloted to scanning every sign up and that too several years back to start with. A lot of forum drama would not be existing then.

You would be wrong if you say "no one". Considering the majority of people buying into newly launched startups are also newbies in investment, the amount of fresh meat coming in is much higher then old meat. They are more likely to think of holding them for long term, not knowing that majority of the projects end up being pump and dump.
 
True, one can. But it is not always going to be that mindset for investors. With funding becomes relatively decentralized, unregulated assets come into the picture and with that the risks that they carry for gullible investors which they would not know coming from a regulated fiat market. To really get into that dump when the bubble biggest mindset, such investors would have to gain some experience and that costs on their already invested money.

That is what I tried to point out to all the red-pilled newbies in this thread posting their conspiracy theory like hot cakes. If the internet would really go down it will be a war like chaos. Portfolios can go to hell, people would need to save their own lives, we have so many devices and systems that are relying on internet.

If you talk about a nationalized internet or intranet then in such countries it can be controlled, but to use bitcoin one needs access to the real internet and not intranet.

What @Ucy said, might be a thing for the future - a currency that relies not completely on internet and electricity but let us see what development we can see in such a project if they really work out something worth using.

It is called a drive-by offer, a basic scam that is often effective in picking off some newbies landing on this forum while actually searching for miners and buying them. Random threads like these get picked up by SEO and then they ignore every post written after the OP.

It is actually very profitable for scum like them to run a scam and the added advantage is the lack of information and lack of doing research on part of the newbie who might read this thread and ignore these posts and text the OP right away without thinking what is too good to be true is essentially a scam.

For them an escrow is "too slow, too costly" and whatsapp deals with unknown people are "legit". You cant help those who cant help themselves.

Firstly, you dont list on CG or CMC, you list a token on an exchange and at the same time propagate it on social media, probably for a longer duration before the token has even been listed.

These sites are aggregator sites, they pull data from exchanges and if a specific coin is making the rounds in that exchange they will automatically list it there. Now if you talk about "paid tags" then I am not aware of any site that allows such services to "list" on their site to increase public awareness but it is an unethical and inorganic mode of marketing, something better to avoid.

Question is incomplete. How many hours it will need to get a price up depends on what price you are talking about, the token's supply and the market capitalization. You need to do some serious homework my friend.

Majority of the users in my country come from freelancing and take bitcoin as a source of income for part time earning and then sell it on exchanges to get fiat since they dont have any avenue of spending bitcoin directly to a merchant.

Jobs that pay directly in bitcoin are still a dream for the average bitcoin user outside countries like US. For the lower economic countries it will always remain a dream unless there are changes from the side of the government to regulate and become lenient about crypto transactions.

I am hopeful that it will be better in future for those who are willing to get paid in crypto. Since it is deflationary, we might see fiat based salaries to be bigger in amounts and rewards than bitcoin based salaries.

The price of bitcoin is inching up gradually from 58k to 59k today. If this continues it would mean there has been a buying pressure after the dump, whatever be the reason behind the dump - panic dumping(?)

I am expecting another dump to happen at 60k, again since it is a round figure, people tend to buy/sell at such targets. So it is better to hold all your horses from trading during this time. Unless the price falls below 55k, people should do watchful waiting. You could place limit orders too at 50k if you have money spare at hand, considering this to be close to month end.

These bear and bull cycles can only be predicted if you are in the market for long. No need to panic because when something goes up it is bound to come down.

Insurance is something that is best done by the financial institutions and Insurance for education does not seem like a term I came across often, correct me if I seem narrow-minded.

I think students can learn about crypto if they wish to and they should allowed to freely associate regarding this. Force-feeding with instructions to invest in crypto or learn about crypto is the wrong method. Giving them prizes in crypto, may work but I dont the ones on the receiving side are going to hold on to that crypto for long, they will likely sell it on an exchange and keep the fiat. That would be a logical step too considering their chances of spending crypto being lower than the chances of spending fiat.

Also teaching regarding crypto is only about development of blockchain technology. No institution will teach you about cryptocurrency and how to invest in them, those come from your own choice.

A project renaming/rebranding in this manner raises a lot of suspicions.

I even checked some of the writeups on their website and I found another website which is copy pasting a similar look - https://t20worldcup.io/

A copy paste website only indicates that a group of scammers is running both and their intent is malevolent. Though a token does exist and has been posted on coingecko, I would not take this project to be a serious one, specially when they have tried to move between Hype trends. Only quick cashgrabs employ such methods.

In other words, exit when you can or dont touch it.

It can go down but it can also go up. Funding rates and all make predicting more difficult and biased, but keeping myself aside from futures and margin, I see the opportunity to buy at the low I take it. Yesterday price was 55k and today it is 58k - profit in the air if you seized the chance.

Possible that lower than 55k might happen. I dont think below 50k will sustain for long, surely there will be buy orders at a round figure like that. So a correction will be seen there. That might be a good place to buy again.

The point is not take in that much anxiety, it will ruin your trading experience. You could also decide not to trade during this period. After all we cannot pin a specific reason to a specific movement or look for correlation-causation every time.

Make a point to buy at the next dips and then see what happens.

We only see what we want to see. The other side is never explored, what leads to such decisions is often important to be understood, major reasons being money laundering. Although Nigerian Banks have their own reasons to launch their own cryptocurrency, this should not be taken as a representation of the rest of the banks in this world, after all not every country and policy is represented by a single country.

Banks have to follow what the government tells them to do. Banks cannot run completely autonomously.

Any institution runs only for itself. They change their stance depending on which one keeps them safe and running. So if needed they may run with the government, which is usually the case.

No. They have to run on the land and they have to follow the law of the land is the broad explanation.

I would still keep DOGE to be a bit more valuable than any other memeshits out there. At least you get a legacy feel with DOGE and you know there is a community for DOGE out there who can pump the price and you can easily dump on them and exit when you wish. Newly launched memeshits will not grow big like DOGE.

Wrong. When bitcoin mining gradually ends, the scarcity of bitcoin will become so rampant that even a couple of satos will be worth a lot. You dont want to miss out on that. So whenever it becomes feasible for you to collect bitcoins, do so.

Memeshits never make a long term value. You will see it yourself in future.

Not sure if that is actually what you want, but my suggestion would be BTC and ETH. Beyond that maybe LTC can be worth looking into but the multiplication of asset might be lower compared to the maximum seen in bitcoin.

In that case, probably this has been said in every post on this thread, bitcoin remains the best. You can also think of fiat markets - some stocks and bonds might be good. A certain stock in my portfolio from the local market has become 300% in one year, I am not complaining.

Currently the price has gone back down to 56k USD. The thread was made before this so, somewhat my prediction that a dump will happen soon turned out correct but I was not expecting this much dump to happen, maybe up to 60k was expected.

This is the time to buy if you know how to seize the opportunity. But right now you should wait for the dust to settle. If bitcoin drops below 55k USD then the buying range is 50k USD. You would defenitely see even lower but start buying from this range in small amounts if it keeps dropping lower. So that when the bullish trend starts again, the corresponding sell orders could be placed at separate strata.

This is a part of the bull/bear cycle, nothing to be afraid of, happens every few months and the point is to remain pragmatic about movements and capitalize on the fear in the market.