This forum, and especially the altcoin board, has always been full of shills. You'd be crazy to take any investment advises about "good projects" here, especially from some random newbies. Troll boxes, telegram channels, twitter and so on should never be used as a primary source for investing research, at best they are only good for getting some hot news and rumors, but even then there's a high chance of getting some disinformation.
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This idea won't work, Bitcoin's price is not strongly correlated to its supply on short time scale. It would have some effect on price stability, but it will not make it as stable as fiat currency.
The only argument for inflationary Bitcoin that is worth considering is if the network's hashing power and security can not be sustained without the block subsidy. But this will be a problem for future generations, so there's no point in preparing for it now.
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I'm just scared of making mistakes but if i don't participate, i'm likely to go nowhere in my journey here. Please help, i need to kill this phobia that stands guard to my progress. Pointing me to the right direction would be a way to start and i hope i follow anyway as that's a major challenge.
What do you mean by journey? If it's a code for "joining a signature campaign", then it's not as good as it sounds. In the most realistic scenario, you'll have to spend from half a year to a year of grinding merits to have some slight chance to joining a $60/week campaign at best. If by "journey" you mean learning about Bitcoin, than you can perfectly do so as a lurker without an account.
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Litecoin's only value proposition is that it is faster and cheaper to transact than Bitcoin. But Lightning Network has instant and free transactions, so what's the point of having Litecoin or any other similar coin? As you can see, Litecoin still didn't break past its ATH established in 2017. If it was "digital silver", it would go hand in hand with "digital gold".
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If a crash would happen right now, we'd stabilize at 14-16k. But I doubt this would be the case, there's still a huge potential for a further rally. I doubt that prices above 100k will be reached in this cycle, so in case like 60-80k as a top, we'd be looking at 20-30k bottom.
You also shouldn't forget about some extraordinary circumstances. For example, it was believed that Bitcoin will never touch 3k again after 2018, but then it did in 2020 as a reaction to the coronavirus crisis, though it happened only momentary.
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The short answer is NO. bc1 address cannot contain any BCH as Bitcoin cash do not support Segwit and because some of the bitcoin community didn't want to accept Segwit they created this hard fork to split from the Core bitcoin. BSV was a fork of BCH, so no way there as well. If you are unsure for any other addresses, you can check them on https://blockchair.com/ Yes, I know that bcash does not support SegWit, and the chain split happened before bc1 addresses were a thing, but there are dozens of other Bitcoin forks that were spawned later, perhaps some of them have SegWit and bc1 addresses activated? I already tried blockchair, it shows no other transactions except for BTC, but it seems to only support BCH and BSV among the forks.
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Government ban coming from the most powerful governments in the world - USA, EU, China would deal a great amount of damage to Bitcoin, and it's the most realistic threat right now. If Bitcoin were outlawed, we'd have a fraction of today's price, liquidity, hashpower, node count, community. It would have no chance to be mass adopted as a currency. Some people believe that if Bitcoin can't be stopped completely, it can't be harmed, but those things are not the same.
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I started checking for Bitcoin forks that I might have missed, and found quite a few coins in my long-abandoned wallets. One of the wallets is a native SegWit wallet with bc1 addresses, and the site that I used to check for forks - http://www.findmycoins.ninja/ does not support it. Does anyone have experience of claiming forks from bc1 addresses?
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What does this have to do with Bitcoin? Providing the news are true and not just another fake story from Chinese government, this only concerns some specific chemical properties of gold. It's not even going to affect it as a store of value. If they created economically efficient way of using nuclear reactions to transform one element into another, that would indeed shake our perception of gold as a store of value, and at least some part of it would migrate to Bitcoin. But such technologies only exist in fiction, so there's no point in thinking about them too much.
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ICO hype was a part of blockchain hype. All those ICOs were claiming to be building some platform to solve some problem and their tokens will have some utility on their platform. ICO itself was known prior to that, Ethereum was an ICO, other altcoins were distributed with it in 2016 and earlier. ICO was just a legitimized premine.
Today institutional investors care about Bitcoin, but will they care about alts? I think they will only care about ETH, and some most daring investors would look at other coins, but there will be no market-wide hype like in 2017, because this time the fundamentals are too different.
Even DeFi hype is nothing like blockchain hype, it only concerns DeFi tokens and platforms like Ethereum. Also this hype seems to be dying down and it has no significant interest from institutional investors.
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If someone makes this kind of prediction about the next few years, they most likely are trying to predict the peak of the next bubble. But if someone talks about the price decades away from now, they might mean that they believe that the price will be stable around that value. Especially if they are trying to predict a hyperinflation of fiat currency.
I think predict what happens after certain price is even harder than predicting the price, which is already so hard that no one ever did it succesfully. No one has any idea when will the price be stable, or even if it will become stable at some point.
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CBDC is not a competitor of Bitcoin, it's a competitor of Visa/Mastercard. Everyone hates bank transfers because they take so long and only available at bank hours, so Visa/Mastercard became the default payment method in the whole world thanks to their nearly instant transactions and 24/7 availability. But banks and merchants and governments aren't exactly happy with it, because they are paying for that, and some are unhappy that foreign companies control such a big part of the economy.
Now central banks and private banks are experimenting with creating their own payment systems that mimic Bitcoin to cut the middlemen. But if this system will be too inconvenient to use, consumers will still stick with Visa/Mastercard.
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Bitcoin was designed as indestructible payment network that does not rely on its users to selflessly support it. If Bitcoin could be destroyed by just trading it, then this whole idea is a failure.
Bitcoin's speculation and volatility are a direct result of its most basic principle - complete freedom for its users. You simply can't tell other users what to do or what not do with their coins. Even if you somehow convince Bitcoin community to stop talking about the price, it won't change anything, because people from outside would still use it as investment.
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28% said that they split their seed into parts to protect themselves from physical theft, but if they didn't use Shamir's secret sharing or something similar and just naively split their seed into two pieces, this isn't really a protection, because with modern computing power cracking 64 bits of security is quite possible. However, 67% of hardware wallet users keep their backup on a paper wallet, and over half confirmed that their private keys would be compromised if someone found the backup. This is debatable whether storing your private key in plaintext is a major security risk or not. Because if you choose to encrypt it, you have to trust your memory to remember your password, and so far there are more examples of people forgetting their passwords and coins rather than getting physically robbed.
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Blockchain can be hacked, any software can have flaws. Even Bitcoin had some nasty bugs in the past, like the infamous inflation bug. Or look at Ethereum - its ecosystem gets hacked all the time - DeFi hacks, the DAO hack, smart contract hacks, etc.
And then there's 51% attack and other attacks like the Sybil attack - the only defense against them is having a big network, which most blockchain don't have. They too are a type of hacking.
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This is why shitcoins are shitcoins, not even their bagholders want to use them and engage in community, and yet they hope that somehow their price will go up. If altcoin season will happen, it will be a rally of select few coins, most likely Ethereum and some others, but shitcoins without strong fundamentals are not going to be invited. Trying to guess which coin has a chance to be a part of alt season is just stupidly risky, why not just hold Bitcoin and enjoy guaranteed profits?
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As we all know, (DeFi) is one of the aspects of liquidity that made bitcoin price jump from 15000 dollar to 30000 dollar easily and fast. Do you think that this news has a good effect on Bitcoin in general and the price in particular?
DeFi is a drop in the ocean compared to Bitcoin, its volume is simply insignificant compared to the volume of centralized exchange, to the point where it's simply not worth talking about DeFi's influence on Bitcoin's price - it's just unmeasurably small. DeFi can only boost Ethereum's price, because it's the platform for most DeFis, but even then the project needs to be really-really big to do that.
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With Bitcoin, there's never a 100% risk-proof move. Maybe this is the end of this rally and it will only go down from here. Or maybe it was just a temporary correction and it's your last chance to buy before the rocket continues its flight to the moon. If you can afford long-term investment, you can buy now and in worst case you'll have to wait some years, just like some of the people who bought at 20k in 2017 did.
This is why Bitcoin is making such crazy big moves that bring its investors big profits - they all come with risk.
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No it's not, XRP has always been a shitcoin, and now it's a shitcoin with legal problems, it has no future, regardless of how will the SEC's case against them do. The only use for it is some very high risk daytrading, if you're into that kind of stuff.
Don't get tempted by the price pump, look at the fundamentals instead.
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I'm not going to cut Warren Buffet any slack because he's a genius investor with great reputation. His statements are just ignorant, he says that he knows nothing about Bitcoin but this doesn't stop him from dismissing it. No self-respecting professional would make strong comments on something that they don't understand.
It's also strange that Buffet dismiss Bitcoin simply because it's not a stock. Does he have a problem with gold markets, commodities, currencies, etc. ?
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