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1.There aren't 21M Bitcoins,because a few million Bitcoins are already lost or will be lost forever.
2.I don't get your idea about equal distribution.OK everyone will get the same amount of BTC,but what happens after that?Some people will lose their BTC due to scams(or forget their passwords and private keys),other people will waste their BTC,buying stuff they don't need or playing crypto gambling.Eventually the BTC will be concentrated in the hands of a few wealthy people.That's how capitalism works.
3.Many poor people in the underdeveloped countries don't have computers and internet.How do you plan to give them Bitcoins?
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I'm now all in BTC and haven't sold a bit since 2013. I have a few Litecoins left somewhere but too few to mention.
I know putting all eggs in one basket is not very wise but I don't feel like investing in anything else right now. Is this a risky move? Maybe yes, maybe not.
I plan HODLing more, might sell a small percentage around November when odds say BTC might boost like crazy.
What's your plan?
If you can afford to lose your investment and you are OK with the risk,then there's nothing wrong with having all your capital invested in BTC.I don't think that altcoins are a real hedge against a possible BTC price drop,because their price is following the price of Bitcoin,so having BTC+many altcoins in your portfolio isn't real diversification. I'm not so sure that the Bitcoin price will boost like crazy around November.Nobody knows when the new bull run will happen.It might be sooner than November,or it might happen in 2022. |
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I bought a shitty "make money online" guide for $30 BTC back in 2017 and I got scammed on Discord for $100 BTC back in May last year.The Bitcoin price was way lower in May 2020 and 2017,so I've lost way more money. These are my "Bitcoin pizza" moments.  I wish they never happened,but making mistakes is a big part of learning and gaining experience. My Bitcoin pizza moments can't be compared with yours.Do you regret making your BTC donation? |
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I don't know if these counts as a song but I have heard some sort of Epic Rap Battle of History kind of video format where they rap battle it out with Satoshi versus the Inventors of Banks, although I forgot the name, the satoshi lines were really fire IIRC.
It was Satoshi versus Alexander Hamilton-one of the founding fathers of the USA and the "father" of the US federal tax system and centralized currency(if I remember correctly). I might be wrong about him being 'father' of the US dollar. I watch a few of those so called "Bitcoin/Crypto songs" everytime I need my daily dose of cringe. Really don't want to be a total killjoy here, but yep, cringe is what they are.
Those songs are simply a joke.Some people find them funny,other people find them cringe. We should take a joke or two about Bitcoin and crypto.Taking everything in the crypto industry too seriously is a wrong approach. |
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The darkweb is being used for illegal activities.Is the darkweb shutdown by any government?
The Tor browser and Tails OS are the main tools used to access the darkweb.
Are Tor browser and Tails OS shut down by any government?
The question here is HOW the governments can shut down Bitcoin mixing services?Is this even possible?
I don't see how any government in the world can effectively shut down all BTC tumblers,that are used by it's citizens.
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Consumer inflation in the US will increase,but it won't become hyperinflation.
Going from 1,8% to 2,3% is not a big deal.The real inflation will happen in the US financial markets.
Economists and businessmen in the US were expecting growing inflation over the last 10 years.Such big inflation never happened,but the people keep talking about the US dollar doing down,in terms of value.
Another interesting question is will the USA "export inflation" like they did back in 2011,when the increased levels of inflation in the middle east,combined with increased poverty and unemployment caused the revolutions in Egypt,Libya,Tunisia,Syria and other countries.
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This proves that Americans are more interested in Bitcoin and they have spent more money investing in equipment to mine Bitcoin. This is out of need and I think that is normal. The Chinese miners have saturated, did not expand their facilities or updated new equipment for their Bitcoin mining plants.
Miners in the US come later and they can buy more modern equipment and mine Bitcoin more efficiently.
How do you know that Chinese miners aren't expanding their facilities and updating their equipment? Did you travel to China,in order to inspect their mining facilities and hardware? From where the US miners will buy their mining equipment?AFAIK,Chinese companies are producing most of the crypto mining hardware. I don't really believe that mining in the US will be more effective compared with mining in China. The electricity costs,real estate prices and labor costs are bigger in the US,compared with China. I'm not advocating on Chinese miners.The biggest problem with Chinese miners is the government of China,which is kinda unpredictable and we don't know when the government will try to shut down all crypto miners. |
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It is obvious that world billionaires are indicating interest into bitcoin of late ,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting ,what do you think
Elon Musk is not "world billionaires". He is the richest man in the world,but he doesn't represent all billionaires around the world.There are many billionaires,like Warren Buffet and Charlie Munger,who hate Bitcoin and will never embrace it.Most of the billionaires around the globe are neutral towards Bitcoin.They simply aren't interested,or they know something about BTC,but they don't want to buy Bitcoins. I don't believe that Elon Musk can control the market and dictate the BTC price.He has influence over the crypto market for sure,but control and influence are two completely different things. |
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All the theories about quantum computers and Bitcoin are nothing but FUD... Quantum computers are simply being used as a "scarecrow" by all the FUDsters and Bitcoin haters. "Don't buy Bitcoin,because after X amount of years,a quantum computer will destroy the Bitcoin Core blockchain and your Bitcoins will be gone."This is the main narrative. There are two things to be considered: 1.The Bitcoin Core blockchain is not static and can be/will be improved. 2.A potential successful attack will crash the Bitcoin price to unprecedented lows,which makes the attack unprofitable. Two 2 factors make a possible quantum computer attack pointless. By the way,I'm not an expert in this topic. |
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May time we forget that there are millions of people out there that do not have access to any type of banking. I am speaking of millions that do not geenrate a recurrent income, do not have access to credit and have their lives quite limited for that fact.
One of the possible advantages of having digital currencies that are recognised by strong central banks and can be moved digitally is the possible access of all this people to a system of storage, exchange and maybe even credit through the digital official coins. I can only begin to imagine how huge can be the economy enabled by these initiatives if bitcoin alone has already taken a preeminent place in a few countries such as Nigeria, Myanmar, Venezuela, ...
A vast majority of the "unbanked" people don't use bank services simply because they are poor. They don't have money to deposit in a bank account.They don't have a stable 9/5 job or a collateral,in order to get a bank loan.Not having a PC and internet connection is another big obstacle.Poverty is the main reason why the people are "unbanked". CBDCs cannot solve their problem,because CBDCs can't help them escape poverty. Unfortunately the crypto industry cannot help those people,because it doesn't create enough jobs for people with low qualifications. |
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I'm really sorry about your misfortune with cryptocurrency mining.
I guess that your biggest mistake was quitting your job.Having a cryptocurrency business should be a side hustle,until it gets big enough to generate a sufficient income.Not having a job and investing everything in one business is a huge risk.That's why most small businesses fail in their first 3 years of existence.
The crypto world was really unstable and filled with crypto exchange scams back in 2010-2018.
I hope that you are going well and you will get out of this depression.
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What's the point of football clubs paying their players with Bitcoins?Do the clubs get any benefit from that?
I don't see any benefit from such move.It would be way better for the football clubs to just buy lots of BTC and HODL them.Many football clubs have problems with debt,so having an asset that gets more valuable in the long term is a way to make more money and payoff their debts.
If the football players want to adopt Bitcoin,they could just buy BTC with their fiat salaries.
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Is he the new John Mcafee? This is just bullish wishful thinking.The price will never hit 1 million per BTC.Let's be more realistic and stay in the 100K-200K USD frame,when it comes to bullish price predictions. I don't know what force would pump the BTC price to 1M USD?I can't imagine such financial power. The US federal reserve buying Bitcoins?China buying Bitcoins?Global mass adoption of Bitcoin as a reserve currency?All 3 options seem pretty unrealistic. |
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Damn,I forgot that I have a Yobit account.I haven't logged in for years. I was messing around with Yobit back in 2016.I had a really small amount of BTC there.My overall experience was good,they didn't scam me,but I would never buy a shitcoin,that is listed on Yobit. I'm not surprised by their shady tactics.I'm surprised that Yobit is still relatively popular,despite all the negative reviews and their bad reputation. A warning to all the noobs-Please do NOT deposit big amounts of cryptocurrencies there. |
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No market price should be regulated by forces,that are outside the market. Having a minimal market price distorts the market.The labor market is distorted by the minimum wage. That's why unemployment exists,at least that's what the liberal economists say. Having fixed or controlled prices is something that never worked. The market price should be determined only by supply,demand and competition. |
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This is a clickbait article,but I understand the hate towards Bitcoin.Many people are upset by the slow transactions and high fees. If someone creates an altcoin,that is as secure and decentralized as BTC,but with cheaper and faster transactions,many people will embrace it.There's nothing wrong with that. The Bitcoin fanatics shouldn't be such closed-minded traditionalists.We must embrace change and innovation. The problem is that don't see such altcoin in the current crypto market. |
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This is definitely NOT a philosophical question.You are making an oversimplified analogy.
The booming crypto industry has some similarities with the 80s and 90s early internet era,but comparing them is more or less pointless.You can't use cryptocurrencies without internet,so internet is the foundation,while the crypto industry is something like an extension of the internet.
The cryptocurrency price explosion kinda looks similar to the dotcom bubble in the late 90s/early 00s,but I think that we are in a new phase,where more people are taking the crypto industry seriously and the legit crypto projects will get the attention of serious institutional investors.
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About a few months ago, I learned some Japanese candlesticks for cryptocurrency trading. And there are some shapes when they happen that mean that there is a rise, ie: Buy. And some forms when they occur mean that there is a fall in the currency, ie: sell or hold. In the first case, you will buy, and if "everyone wants to profit" and everyone of course knows the rise, who is the dumb who will sell you this? In the second case, you want to sell, and also "everyone does not want to lose". Who is the dumb who would buy this from you? And with this logic, what are these shapes?
There is always something that happens naturally on a regular basis and causes regular results, but something happens based on "people's minds" (buy / sell), ie: it is erratic. So how will the results be regular (up / down)?
The markets are volatile and unpredictable,because nobody can convince all the traders to follow the same strategy/tactic/behavior/buying or selling pattern. The markets exist,because of a thing called "asymmetric information",which means that some of the traders have better information about the market than others,so they are using that information to profit. Those "Japanese candlesticks" patterns you are talking about are NOT asymmetric information.This is just a lame pseudo-tactic,which is being sold by some fake "trading guru". |
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And what is so big problem with that "centralized"?
As Long as the coin works and goes Good I Don't see the problem.
Coin is centralized If You pay honestly taxes do legit things nothing to hide what is the big deal?
Anyways the owners can only control the system
If the owner try to do something funny... Its a chaos.
And why kill the slave If you can keep your slave Happy and he Will Work for you anyways.
Also If you show to the People your true attitude that you are the big boss and Want to Control... Well People Will do revolution so the direct Control is Not a Control.
Btw... If I own money in bank and Some banker do the funny things my account I lose I make him to pay that I Go in Court and sue him.
Or If I Want I Tell him You own me that much money You pay this this date.
That's so Simple! So Simple.
If You Don't fck with Others no body dont fck with You If you mess around and get punishment.. then First ask... yourself.
So thts why i dont see this centralized thing as a big issue.
Nobody Don't Want conflicts and problems.
You seem like a person,who likes fiat money/centralized currencies.There's nothing wrong with that. If you like fiat money and centralized currencies that much,then why are you whining about Bitcoin transactions?Just use centralized coins that have fast and cheap transactions and forget about BTC. Your post is just a lame attempt to shit over Bitcoin for reasons that we already know and have been discussed years ago.You have the freedom to pick any altcoin you want and use it instead of Bitcoin. If you have trust in the banking system and the courts,that's great.I don't trust the banking system and the courts,so I'm not gonna be risking all my money,by putting them in a bank. |
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Going from paper cash to electronic money and from electronic money to cryptocurrencies is actually a really slow process,that will continue for decades.All those forms of payment will continue to exist together.
I don't see the majority of people dumping fiat money anytime soon.The pandemic might have reduced the usage of paper cash,but the percentage is really low.Many people are using credit cards instead of cash,so the risk of getting COVID while shopping isn't that big(if you are wearing a mask and washing your hands).
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