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You are talking about decentralization and centralization and which should we choose? But how once bitcoin becomes centralized, can it increase in price 30x or 1000x? That doesn't sound unreasonable since the government will control its price and won't let the price rise like that if bitcoin becomes centralized. Looking at how the government controls and manages fiat, it will depreciate over time, not increase over time.
In contrast, bitcoin is not controlled by the government, its price is completely dependent on supply and demand, then the possibility of a price increase will be higher, like what is happening now. So your hypothesis won't happen.
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From what I can see, there is not yet any significant benefit that bitcoin and cryptocurrencies bring to the global economy. To put it bluntly, bitcoin has not had any positive impact on the world economy yet, what bitcoin is achieving is only on an individual level. It has brought opportunities and helped many people change their lives, but to talk about the macro impact, there is no. Look at El Salvador, what have they achieved since they accepted bitcoin as a legal tender?
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This is a common idea in poor and developing countries wherein it tries to act at every opportunity unintelligently. This is also happening in my country. So what about people being late to buy those penny stocks that are now worth a lot? We're also going to teach our 10-year-old kids about stocks early then. Founders of social media applications and platforms like Facebook, Youtube, and Google turned its young founders into billionaires. So we're also going to teach our young kids about apps, social media, and programming?
Again, this doesn't make any sense. 10 years old is not even part of the youth, that is still a very very young kid who's supposed to play, and study the basics of education while exploring and discovering its natural gifts and skills.
for me that teaching is just for preparation for their mind and idea because we knew that children nowadays are having their great skills and knowledge in computer and internet in which they are the one who really the target of cryptocurrency. so I also support that children must be told of crypto specially bitcoin no matter what age are they as long as they are ready to have understanding. If they are too young, what do you need to prepare for them when they just want to have fun? Tell me when you were a kid, what did you want? You want to play your favorite games, watch your favorite cartoons... don't even want to go to school, so why would you force your child to do those things? Our society has evolved, children are smarter than our generation, but that doesn't mean they need to know about investing too soon. 10 year olds are even learning basic math, so teach them to invest bitcoin, what's the benefit here? More importantly, do you have kids and have you ever talked to them and asked what they want? |
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Indeed, fiat currency is always subject to inflation, but BTC investment is of course very risky, because we will not know the price of btc in the future, so in my opinion in this case we only invest money in BTC using idle money. but of course the decision is in the hands of each.
Categorically speaking, all cryptocurrencies are risky in their respective ways, but when it comes to level of risk, I will say that Altcoins are more riskier as compared to Bitcoin due to it's high rate of volatility. Moreover, with the right tool and analysis, the future price of Bitcoin can be predicted, as it's not rocket science, since we have got day traders who do this and still making a good decent amount of money from day trading Bitcoin. Any investment will have risk, the higher the return, the higher the risk. Bitcoin is safer than altcoins but riskier when compared to investments like gold and real estate. Good to see OP and more and more people investing in bitcoin. But I also want to emphasize once again that investing is risky, I hope OP will diversify his assets instead of focusing and putting all his energy into bitcoin is very risky. |
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The question is, is it bad to borrow? If you know for yourself that you are responsible for borrowing and paying, I see nothing wrong. Now, like the title said, is it really bad for you to buy bitcoin from debt?
If there were people who were doing that, I would have been one, because I couldn't buy bitcoin for 250$ in one shot I just borrowed and I just held the bitcoin in my wallet, but I did that because I had a lot expenses to do. And even so I did that I paid off my debt before my due date. And now the bitcoin that I owed the purchase that I was paid. This means that borrowing money is not bad, ...it only gets bad when you don't pay off your debt.
Many people always consider borrowing money to be bad, we should stay away, but I agree with you. If everything is under our control, then borrowing money to invest in bitcoin is not entirely a bad thing. I have never borrowed money to invest in bitcoin, but I have also borrowed money for business, and the results are as I expected, not as bad as people are saying. There is no success without trade-offs, borrowing money is not bad if we have a perfect plan. |
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During the 2022 crisis, bitcoin failed to fulfill its duty as a hedge against inflation. It has also been negatively affected by inflation, severely dumping. So it is too risky to rely solely on bitcoin to save us from inflation and crisis. Every investment has risk, why don't we diversify instead of just focusing on one thing?
BTC doesn't have any 'duty' of being a hedge against inflation, it is not a stable coin; though it can be used by people who want to use it as a hedge against inflation, but they must not forget that BTC is also volatile and the price can either rise or dump, but in the long run BTC price usually pumps very high and people who bought earlier will make profits instead of their money depreciating if it was in fiat. So if you want to talk about BTC being a hedge, it has to be in the long term. BTC is surely risky, but if one knows what they are doing, the risk is reduced, but i agree with your point on diversification, but in other assets like real estate, gold, etc and probably not in altcoins. I agree when you say that BTC will be a good hedge against inflation if we hold it for a long time, such as accumulating bitcoin now and we will avoid future inflation. But in the short term, don't jump to the conclusion that it will be better than fiat because of its volatility. For me, diversification is a non-crypto investment, I have never considered altcoins as diversification to reduce risk. The entire crypto market depends on the movement of bitcoin, it would be foolish to invest in altcoins for diversification. |
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My reason for "adopting" cryptocurrency is not something profound, I just want to be able to grow my money without the hassle that a basic investment institution offers and I want to buy a lot of stuff and travel in places and eat good food, if crypto or bitcoin helps me do that then so be it. Here's the reason for all of us, investing in bitcoin makes no sense if it doesn't turn out to be profitable for us. I don't believe people will still hold or stay loyal to bitcoin if it becomes stable and no longer generates profits. Of course, we still use it, but there won't be as much interest in it as today. For me, it's all about financial sovereignty. Cryptocurrency gives us the power to control our money without relying on centralized institutions. Plus, the potential for financial inclusion is huge!
People talk about financial freedom but what does it really mean? I have heard of it and have used it but I don't really know what it actually means. If it's freedom from financial institutions, I don't see it because most of us still use fiat in our daily transactions, we are still slaves to consumerism which is an engine of the financial institutions that we so hate so I don't know if we're truly financially free. But you can freely control your money with bitcoins, you don't need to depend on banks or any 3rd party when storing assets. It can be said that we have full control over our assets when using bitcoin. But you are right, that does not mean that we will be completely free, as many people say, because we are still dependent on fiat, on the banking system, if we want to continue to exist. |
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I am 18 yo
schooling in private college
I flip stuff for cash part time regularly to make some extra cash
I have 1 Bitcoin @ 29k & I keep about $3000 in cash in my bank as emergency fund
I have 3 months study break so I am most probably gonna take on a job to fund the bitcoin , trying to fund as much as I can before the halving in 2024
I have been researching on bitcoin for a few months now and by researching I meant like the purpose of bitcoin and I see how it is so much better than fiat(cash) . The only thing that can stop bitcoin is probably the government. After understanding the purpose of bitcoin it gave me more confidence on buying it and not seeing it as a 'investment' but more of a freedom digital currency.
I am gonna start deciding to sell it at end of 2024 , but I guess i could wait till end of 2025.
Hopefully bitcoin can save me from this crazy inflation and break me out of this financial crisis.
If you guys have any tips , do let me know ... I would be very grateful for it.
No one yet knows how bitcoin will behave during the crisis. Serious crisis. Therefore, relying on bitcoin to the full is risky. What if bitcoin fails to play its role during the crisis and fails to meet the expectations of investors like you who are trying to find a safe haven? Therefore, it is commendable that as a schoolboy you became interested in bitcoin and invest in it in an attempt to avoid the effect of inflation on your savings, but my advice would be the following. Diversify your investments. Keep some cash on hand for current and unexpected expenses so you don't have to sell at a loss bitcoin. Since you are talking about a crisis and you are afraid of it. Also, pay attention to what areas and directions you can invest some of your funds in, but I don't think the stock market is right for this right now, because it is very hot. You have a point there, you have perfect thoughts and fair judgment about bitcoin, unlike others who just exaggerate about bitcoin. During the 2022 crisis, bitcoin failed to fulfill its duty as a hedge against inflation. It has also been negatively affected by inflation, severely dumping. So it is too risky to rely solely on bitcoin to save us from inflation and crisis. Every investment has risk, why don't we diversify instead of just focusing on one thing? |
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Today surprised me because the price has dropped again and has the opportunity to drop below $ 25k, the prediction that the market will rise after March turns out to be wrong and this makes us have to be patient to hold it, I'm sure the market will rise soon and don't panic when facing a market like today.
That's because many people don't realize that bitcoin's price reacts to global economy. If the FED keeps increasing interest rates sooner or later stock traders will have to sell their assets and that includes bitcoin. That's what's been happening since 2022 and bitcoin managed to get back up after some bullish news, but the US government is obviously trying to counteract. There's nothing wrong with bitcoin, so I'd treat any small dip as opportunity at this point. In a sense, yeah, not just bitcoin but even stock market reacts to global economy. So if there is some sort of negative news, the price will react negatively, same as when their is some good news, the price is bound to pick up and least increased. And I think since I joined the bitcoin market, or in the last 5-6 years, that's how the market reacts. Maybe right now it's just very evident as everyone is waiting for a news coming from FEDS and then hoping that it will be positive because for sure speculators are going to take advantage of it by selling early. Last year the market reacted strongly to the Fed news, but this year things have been more stable, and I no longer see the news about interest rates affecting the market much. The most recent rate hike also didn't make bitcoin too volatile, we are waiting for other news, not what from the Fed. The cryptocurrency market is always like that, no one will be able to predict anything, other than waiting and preparing a plan for each case. |
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In my opinion, bitcoin has several development scenarios. 1) Bitcoin will be worth a lot, as a result volatility will decrease and it will become something like bitcoin 2) Bitcoin will undergo a hardfork. The old chain will die and the new bitcoin will be worth little 3) Bitcoin will be replaced by something else.
In summary, all possibilities are possible and we should not put all our trust and assets in bitcoin but always diversify to minimize risk. The third is the one that comes to my mind the most because as the world evolves, technology evolves. Satoshi can create a masterpiece as amazing as bitcoin, so others can do the same or surpass what Satoshi did. I believe there will be something else to replace bitcoin but don't know when that will happen. |
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It is currently like that, they have recently closed it for public trading. However, it should be noted that possibility of a rise in twitter or x stock can happen if Elon Musk or the board decides to open it again for public trading. As of now, it is unclear what Elon is planning to do next after the huge rebrand of the platform. I saw his tweet recently, and he said something special is coming. Although many people feel disappointed and unhappy when the blue bird symbol is no longer available and replaced by the "X" logo. But I believe the shareholders of this social network will not care about that, what they care about is what Elon will do next to make them profitable and that is also what many people are expecting from Elon. Many say he killed Twitter, which is true because he rebranded, but what the social network will look like in the future is still an exciting thing to see. I think it's too early to say anything as we all know Elon is a top businessman. Let's see what he will do. |
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One good way to also invest in Bitcoin is that the person must have a target price at which they want to buy, so that if the price drops to or below their target price, they will just buy at once. In the case of my example, the price of Bitcoin fell way beyond the investor's target, and even if they bought up at once, it's never a bad investment, because their profit will still be huge compared to others who might have even bought at $30k or those that bought Bitcoin during the last bull market at $40k, $50k, and some at $60k.
Buying in the 40k-60k range is not a good target, it tells us that the investor has done some poor analysis before investing. And in this case, buying in one trade is bad, because in the further fall, if he continued to buy in parts, he could get a better entry price. But I'm not opposed to buying most of the investment in one trade, it can also get a good price, although this requires good market reading and to some extent it will still be a game of luck. Bitcoin is a potential investment, but that does not mean that simply buying and buying without doing any analysis is a misconception. Of course, the people who bought bitcoins for $60k won't lose if they haven't sold their bitcoins yet. But they have to hold for many years to recover their losses, while others who bought bitcoin for $15k or $20k made huge profits. For me always analyze and make appropriate investment decisions, should not listen to any advice from anyone. No investment will bring us any profit if we buy it at the wrong time and at too high a price. |
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If there is an opportunity to be fully educated, we should not miss it. It may not be the only path to success, but if we are fully educated, we will have more chances to succeed. Education does not guarantee the bright future we want, but at least it helps us to have more opportunities than the less educated. Many people are fully educated but fail and they start to blame education but they don't look at themselves. Their stupidity didn't work out the knowledge they were equipped with, and they blamed everything when they were incompetent. Education is knowledge and I have not seen anyone without knowledge who can become rich and successful.
Education is important one to the students,because they can uplift their life using the education alone.When the first generation of the family get educated,it leads to the family to move to next level.It doesn’t cause the affect to the society,it actually uplift the society to the next level.The education also give the family the standard income.Then the education also allow the next generation of the person to get into education,the next generation also study based on the the uplifting get by the education. Those who are criticizing education as useless or wasting their time are stupid people, and they will always blame everything but themselves, those people will never succeed. If they say education is useless, they should ask why developed countries and great powers have superior education and why billionaires and rich people are concentrated in countries that have a good education. Billionaires like Bill Gate, Elon... they didn't graduate from college but still became billionaires because they are rare geniuses of the world. Moreover, they are still fully educated from a young age, just because they don't have a university degree does not mean they are uneducated. It's funny how unemployed people are comparing themselves to billionaires and blaming education. |
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I think the second reason that most people experience and myself included, when I feel a lot of money then I think about doing things that I like like changing cars, traveling abroad and even buying things that are not important like household furniture that doesn't deserve to be replaced.
For me, as long as you don't splurge and buy a car, a trip or a luxury phone...All is not considered wasted because the purpose of our hard work is to have a better life and not to torture ourselves in poverty to death, and the money remains unused. Save for the future but don't be too stingy with yourself, enjoy life within your financial means because we only live once. Wasting and enjoying life are two completely different things. |
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Most of the advice voted Electrum wallet and I also somewhat agree that Electrum wallet is the best hot wallet. But if you use iPhone, it can't be used because so far, it doesn't have any version for IOS, including the beta version. That is its only limitation. In my opinion, as long as you use an open source, non-custodial wallet, it's a good wallet. Depending on the preferences of each person, we will use different wallets, Electrum is good but not everyone uses it.
You can use bluewallet for iOS, it's as good as Electrum. Electrum not gain a lot attention because they're not making profit from creating this wallet, so they're don't have money for marketing. Unlike trustwallet or any wallet that making money from other service e.g. exchange, staking, product etc. Moreover Electrum has a bad UI unlike other wallets which have a slick and modern design, but that's not a matter for people who're focus about the security. I also see people mention bluewallet, but I still like Electrum, so I have no intention of using another wallet, and I am still waiting for the day they release an iOS version (although that possibility is unlikely).  . For now, I'm fine with Electrum on my computer, but anyway thanks for suggesting me the bluewallet wallet for iOS, I'll try it out in the near future. And on the contrary, I like the simplicity of Electrum, the interface is both simple and user-friendly, I don't like the fussy and complicated like other wallets. |
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Good evening,
Which hot wallets are top in your opinion?
Most of the advice voted Electrum wallet and I also somewhat agree that Electrum wallet is the best hot wallet. But if you use iPhone, it can't be used because so far, it doesn't have any version for IOS, including the beta version. That is its only limitation. In my opinion, as long as you use an open source, non-custodial wallet, it's a good wallet. Depending on the preferences of each person, we will use different wallets, Electrum is good but not everyone uses it. |
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Btc is cup money is liquid the water and Banks are from the word like a River bank.
So money currency is water and btc IS the cup all assets gold btc and other crypto are the cups where the money the water flowing in.
Those who got cups to collect the water when it's raining those got most of the water so to speak they got most of the money.
If u sell btc early it means you empty your cup ...btc is big cup small coins smaller cups they full faster then biggest cup the bitcoin.
Those who got cups when its raining they collect the most of the money more water more cups needed to collect water.
I am a long time bitcoin investor although I am not very good, but I still have the basics. But honestly, reading your explanation of bitcoin, I really don't know what you're talking about. Hey mate, you don't have to use metaphors and complicate things. You just need to explain in the simplest way it is money, it is an investment that can bring high returns. That's enough, if the listener is interested in that, then let's continue the story by comparing bitcoin to fiat, as the two are completely opposite. They will have a better grasp of everything about bitcoin. |
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Umm not really a great choice if you ask me, I will always go for a Ledger or Trezor hardware wallet because of how easy it's easy to use, store crypto and hide it in my house or somewhere secretive. This looks more like an alien device for those who don't know about Bitcoin Hardware Wallet(s) and if we go by Trezor or Ledger design, it's just a simple USB stick.
In the end if it's working fine for you, great.
You don't know it but many people are not unfamiliar with it, SafePal is a storage wallet with both hot and cold wallets that many people have been using, it's not new anymore. But I also wouldn't choose it as it is a closed source hardware wallet, but I would also recommend skipping Ledger, which is also no longer a trusted wallet. Perhaps when it comes to hardware wallets these days, Trezor is the safest option we have. But no one can predict what will happen, everything will be safe until it is no longer safe like how Ledger lost his reputation. |
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With classic bank transfer payment could be always reversed (even 30 days later). ok maybe for a banana this will not happens but it must be taking in account.
This is not true, reversing a bank transaction is not easy, you need to contact a bank and ask them to do so, and they will review your case manually. You only have a good chance of reversing a transaction if your money got stolen and you reacted swiftly. But banks generally rely of layers of verification to prevent that from happening. Yes, reversing a bank transaction is not easy or even impossible if we don't have any concrete proof. There are a lot of wrong account transfers happening to people I know, and they can't get their money back because the bank requires too much proof, and it will take a lot of our time. Unless it is a large amount we should pursue it to the end, but if it is a small amount then we should forget about it. |
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This days lot of bitcoiners are scared of introducing bitcoin to people because of they do not want to be blame if the investment ends bad. Most people have lost good relationships with family and friends all because of introduction to financial investment with no profit and this made them to take a serious decision never to make any introduction about money to anybody again. As for me I'll always introduce bitcoin to people because it is money, people needs money for better life. It is my duty to tell about bitcoin to people and it is their decision to invest in it.
Because of the risk that is in bitcoin it won't stop me from telling people about bitcoin which will better their life if they found it interesting.
Dont forget to teach them about the risk on investing on cryptocurrency, your teaching them wrong just saying that go and buy bitcoin and then you might get lucky and possibly earn a good amount of profit, well it might work but doesnt exactly work like that because investing on Bitcoin is one of the riskieast investment that you could make because of the volatilr market price. If you dont teach them the risk they just think that it is easy just waiting and then thinking that it is going to give them profit in the future, its difficult to believed on bitcoin if you dont really understand the market cycle and how bitcoin works. They would just end up losing a huge amount of money and surely going to blame you in the end. The trick in my opinion is dont teach them because there are surely going to be dependant on you, ehat you should do is make them figure it out on there own because it wouldnt really make sense if your just going to spoon feed everything. If we only talk about the advantages, emphasize the profits, and ignore the risks of telling bitcoin to others, we are doing them more harm than we think we are helping them make money. Yes, bitcoin is a riskier investment, if not the riskiest, when compared to traditional investments. But many people are under the illusion that investing in bitcoin is risk-free, it will always profit them. Don't forget that the higher the return, the higher the risk, fantasizing too much about bitcoin is like killing yourself. |
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