From analysis, it has been argued severally that hodlers are winner and earn more profits than traders, this depends on your expertise and where you fall into. The current situation now means that anyone that bought lower and didn't take profit because of greed or another reason will soon be at loss or breakeven if things continue to go down. Now many people are lamenting because they didn't expect this at this time and didn't take profit because they thought the uptrend will last more for better profit. For people that has been here for long knows the cycle and this kind of situation is inevitable. For people that can be patient I think they can still get back to the former or expected profit but this is not guaranteed. In my opinion I think it's better to hodl and take profit at the right time and wait for the dip to buy back more quantities and wait for more profit. This way you earn more profits. What do you feel is best to do when holding a coin, please share your opinions!
What you say is right. I have been a HODLer all this while and I don't regret because HODLing has given me good profits. But the recent dump changed my perspective. Bitcoin falling from $64k to $30k told me take profits use it to buy back when such corrections occur. This increases overall gains in the long term. I think we should not sell all when the price is high but we should definitely sell some and take the profits so that we can buy back later. This is the strategy which I will follow going forward. |
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The thing is that many people complaint about how high the price is and when a crash occurs they get panicked about how the whole market is falling.
Some think bitcoin is going to zero while some think it's a bear market and simply don't invest in a bear market.
Then this cycle repeats. Many people end up buying high and selling low and end up losing money and calling crypto a scam.
We have to be very patient and grab the opportunity when it knocks our door.
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I got a message on discord (i sign up to a particular server) from an individual informing me that I've been given some bitcoin (0.2) . The message was to the effect that their exchange has increased activity and decided to hold a draw, distribute to random users. Crazy eh? Sticking to the tried and trusted old adage, if it sounds too good to be true, it probably is.
Nonetheless, I followed the instructions, signed up to this somewhat-dubious exchange website, put in the activation code. I now have the option to withdraw the bitcoin. When I select "withdraw", I am asked for a bitcoin address.
I have a mycelium wallet. when i click on Account 1 (now working with on this HD account), and then "balances", it shows an address. Is it safe to enter this address into this somewhat dubious website? Or shall I create a second account in mycelium? Or better yet, forget the entire thing?
One thing I have learnt from this forum is a phrase which is actually 100% accurate and that is "Too good to be true". Whatever it is, if it's too good to be true then it's probably a scam. I got the same message you got on discord a few months back. Upon receiving the message I was sure that it is a scam but thought of trying out up to what extent can it go. I signed up and entered the withdrawal address and a message was displayed to deposit btc to withdraw which was obviously a scam. We can see such type of scams frequently and simply avoiding it is the best thing to do. |
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China seems to be close to the full suite of Bitcoin restrictions:
1) No crypto exchanges allowed in China, restricting fiat to crypto flows
2) No mining companies allowed in China
3) No Bitcoin related spending allowed using bank accounts in China
If all three bans are enacted and enforced, do you think this still considered FUD or reason for concern?
China has done this in the past and they have repeated it now. The China ban previously dumped bitcoin a lot but then at last bitcoin was able to recover from the dump and gain to ATH this year but then again China repeated the past but this time bitcoin seems to recover quite quickly. We can see how bitcoin bounced back from $28k to $34k today. May be bitcoin keeps up the pace then we might recover quite quickly. This year is surely one hell of a ride for bitcoin. |
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...Remember, 1 BTC is still 1 BTC!
But isn't the same 1 BTC at $29k than 1BTC at $60k. The problem here is the coin can keep crashing, and that will represent a bigger loss, we must be wise and pay it with the brain and not with the feelings. If we know it will go don, then sell to buy later is the best move. But in cryptos we can't predict the future, so, grab some popcorns and enjoy the drama. It definitely is the best move but that's the catch. We can't easily predict if it will go down. "Most" of the people think it will go in some direction but then the market always goes opposite and then the people sell in loss. But then again, that's exactly where they tend to do the biggest mistake. Selling in a loss is the biggest mistake. We only lose when we sell in a loss. This is why what OP mentioned is accurate. We need diamond hands to hold so that we can get the profits in the long run. |
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It's 2 days left to bet on BITCOIN PRICE - JUNE. The favorite range of the freebitco.in bettors is "$35,001 - $40,000" so far, but will it stay like that in the end? It's very tempting to place a bet on $30,001 - $35,000 because it looks like we'll be there by the end of the month, and also the odds, 4.00, are pretty nice:  What about you, guys, have you placed any bets so far? I think I'll wait one more day, because the Time Weight Multiplier isn't that high currently anyway. Yes I already placed a dutch bet of 3 mBTC on the range 25-40k(25-30k/30-35k/35-40k). I'm pretty confident BTC won't rise above 40k but I hope the bad news from China and the chinese whales won't push the price under 25k for the end of the month. BTC is under 32k currently. Anything could happen in a weeks time. As of writing this post the price of bitcoin is $33.5k and the bounce back from $29k was an amazing thing to watch. If things go well for bitcoin then $40k is still an achievable target for bitcoin so placing a few satoshis in that range would definitely be worth it. The odds are currently at 8x so it's even better to put some sats in that range. |
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snip
Okay got it. How about this Suppose I am on chain A and then pay someone to get some amount of work done. Then I travel to the other side of the internet. I get to access all my funds on chain B and then pay someone to do more work and pay him through the funds on chain B. So this way I get double the work done while spending half amount indirectly. Yes, it exactly works like a fork.  [Feels Overwhelmed - Feels like two lives]  |
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If a UTXO is spent on both chains but differently, then one of the transactions (and all of its subsequent UTXOs) will become invalid when the chains are reconciled. Even if a UTXO is only spent on one chain, as would be the case in two completely separate internets as Jet Cash has described, then there will still be a huge number of transactions and their descendants which would immediately become invalid if the chain with the lower work was abandoned. If a fork to keep the chains separate did not occur, then the value of bitcoin on one or both sides would fall dramatically I would think. No one is going to want to accept a currency whose transactions could be reversed suddenly and without warning even when several hundred blocks deep. First of all. Thanks for the detailed explanation. I had never thought of this scenario and the info is just overwhelming. Assuming the chains are running separately on both the internet and is not yet merged but as you said the price on both the internet would drastically drop. Let's not focus on the speculation but since the price is irrelevant on both the internet/chains I think there would be a huge opportunity of arbitraging. People could easily transfer coins from one chain to another since it would just take a normal transaction from person A to person B for hopping the chains. What do you think would happen in this case ? Would it even be possible to use this arbitraging opportunity to gain profits or would it not be feasible to do such a transaction from one chain to another. If the transaction won't be feasible then what would be the limitation/restriction from doing such a transaction. |
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Those who advocate hodling, when do you cash out?
I mean, dying hodling is not the plan, is it? Eventually, you'd need to enjoy the fruits of your patience, right? When is that, when someone says "hodl"? Is it a savings plan? A retirement fund? What does it mean to hodl?
HODL is not a savings plan. HODL is an emtion. Jokes apart, we HODL to gain huge profits over the long term. We do not sell until we see high returns on our investment. Some HODL as long as they are in need to withdraw, some HODL until their long term targets are met and some HODL because it becomes a necessity. Right now the market is in panic and instead of selling in a loss it's best to HODL. Forget your investments and stop seeing the prices for a few weeks or months. I am myself in a loss and there's no other option than to HODL. |
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Tesla is a company and El Salvador is a country. There's a huge difference between them.
It was Elon Musk who decided not to use bitcoin as a payment but now he is still considering to use bitcoin once the green energy usage is increased.
El Salvador would not have accepted bitcoin as a legal tender at first place if it had to revoke it's usage.
Passing a law is not as simple as it sounds because they have to think it through before approving the law.
Besides that, few other countries are thinking to accept bitcoin as legal tender as well.
Even if for some reason El Salvador removes bitcoin as a legal tender the people in that country would still continue to use bitcoin in my perspective.
So while it can make a temporary effect on bitcoin's price, I don't think it will matter in the long run.
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But it's not always a good time that he enters because I remember that there was some news that his company bought but it was I think above $40k so that particular batch of his purchase is at loss. Thus, he's buying for the long term so he's also like buying at any price that he has to.
You are saying that from a trading point of view. Entry point matters in the short term but not in the long term. As you said Michael Saylor must be buying for a long term and hence he is buying every dip. This might be a good strategy as long as we have enough money to buy the dip. But at the same time we have to look how much funds are left. We can't put all our money at a single dip and then wait for the market to dump further. But yeah, we don't have to worry about the price if we are in it for long. It's always a good time to buy bitcoin. |
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What do you think of an AutoDeduct System of a Gambling Platform? Says you just connect your wallet like for example on a Dice Game, then it will just roll itself everytime it sees some funds on your wallet whatever coins it was until you are left with Zero ( Funds withdrawn or Funds gets Zero?)
I just have think of this as LOTTO ( site : lotto.finance) is implementing this, and one way to get out of that is to either wrapped the tokens or bridge it on another chain, do you think its reasonable not to have a stop button to exclude your address once you don't want it anymore?
I am unsure of how the transactions would happen. If we connect a wallet would the dice roll make a transaction itself ? Will it do broadcast a transaction for every roll or would it make one transaction and transfer all the balance to the casinos wallet and then keep rolling until balance is zero ? I think it's a bad idea because at the end the casino always win by having the house edge on their side. So it will just be like connect your wallet and see your balance go to zero. Why would anybody want that? What are the benefits ? |
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I saw your post history and it looks like you are here just to earn money through campaigns and probably made this post to know if you could earn merits by posting regularly in one specific section. While trying to attempt of a signature campaign is not bad but making posts solely to earn merits and rank up to take part in signature campaign is not a good idea.
As a newbie your aim should be to learn how things work in the crypto community and learn more about crypto and blockchains and not focus on the earning part.
If you focus on your growth and developing your skills then you won't have to worry about and merits and money.
Just try to learn more about this forum by reading the forum rules. Stick around and try to grasp whatever your can and learn along the way.
To answer your question you won't get banned just by posting in one section but don't end up spamming the forum or any of it's boards.
You can only learn when you contribute towards discussions and learn from it and doing so in multiple boards will give you a wide knowledge of crypto.
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As others said, it's definitely a costly attempt to scam but a worthy investment to scam. If the user is someone who isn't aware of the technicalities he would simply transfer all his funds to the ledger wallet and lose all his crypto. It's good that the reddit user was aware of the hack and hence didn't get scammed. Now that he has a free ledger wallet is it possible to remove the old firmware and flash a new firmware and get new seeds ? If so the user could still use the free ledger wallet |
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This all depends on your threat model. Are your back up locations more likely to be compromised by a thief, or more likely to be damaged by fire, flooding, natural disaster, etc? Do you simply need to write your seed phrase on two different pieces of paper and hide one in your house and one with a family member whom you trust completely? Or do you need to use multi-sig so that a thief finding one share gets nothing, or two (or more) of your friends/family members would need to collude to steal your coins?
This reminds me of Vitalik Buterin. I saw his interview recently in which he mentioned that he has split up his keys and given to family members in another country. He had to call up his family members and get the pair of words and attach the pair of words he had to access his funds. What do you think about this way of storing and accessing funds ? |
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~snip~
I bought some FUN token while it was at 123 satoshi and I sold them while it was around 64 satoshi (can't remember the selling price properly). FUN token price dropped more now. So, I would face more loss if I hadn't sold my coin few weeks ago. FUN token don't have utility usage and popularity like bitcoin. In the long term FUN/BTC pair may not do well. That's why I don't prefer to buy this token with BTC pair. That means you had a loss of almost 50% in BTC pair. Talking about utility, the only case I would buy FUN tokens would be to get the premium services of freebitco.in The number of Wheel of Spins are good for the amount of FUN tokens. Other than this I don't think there's a good use case for FUN tokens to be bought. |
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We all know that off-line casinos tend to take very good care of their most valued clients, that is, those who spend large sums and are more or less loyal to an specific place. Freebies, guest experience managers at their service and any other amusement they fancy. On-line is much more difficult in that sense and sometimes I also wonder what can be done for a more personalised experience on these.
It may not be possible to reach the same level as the physical casinos, but what would you like to have on these that would make you feel better treated?
Obviously those people cant get the same VIP experience as it was physical in nature but online casinos have their own VIP experience in the form of premium memberships. The premium members get their own benefits and rewards which the normal users don't get. At the same time the premium members also have to pay their fees to get those premium services. So yeah, online casinos do have their own VIP experience. |
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~snip~ I really can't afford 500k fun tokens, that is just way way out of my league, its 0.27 bitcoins right now for example. However if you are rich enough, let's say you have 100+ bitcoins or so, then doing this is a no-brainer, like who would not do this? Why would you not do this? Its literally FREE MONEY as it gets, it is incredible. ~
It was always 25%. Anyway if you buy 500k Fun tokens then it will give you 1.02% extra interest annually. Normally it is 4.08%. But there is a disadvantages of buying FUN token through bitcoin, FUN token price hasn't increased like BTC. At first each fun token value was above 100 sats at freebitco. But currently it's around 55 sats. If anyone bought FUN token at early stage and still holding it, then he/she lost significant amount for FUN/BTC pair drop. In that case it's not free, you are risking your btc to increase your interest rate. There's always that risk. This risk is not just with FUN tokens but with any altcoin anyone buys. Over a period if the price of altcoin drops in BTC pair then he would probably lose a significant portion of his gains. I remember seeing FUN token at 120 Sats and I was gonna buy some but I couldn't since I didn't have enough money at that time. Now the price has dropped significantly and there's a good opportunity to buy at such price. |
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Memorizing the seed phrase is the one of the worst possible ways to back it up. The context here is not about backing up the seed by memorizing it, instead, it is backing up through some preferred way as well as memorizing the seed. There's nothing wrong if you can memorize the seed and have it securely backed up as well. I know we might lose memory and forget the seed and in that case we can just use the backup. Just write it down on paper like you are supposed to.
It's still not secure enough. You might lose the paper in some way or get it torn. There's no proven way which can guarantee to store the seeds securely. We just have to back up the seeds with the least risk. |
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Hi this is a random question but is it possible for my seed phrase on hardware wallet to be compromised by an app using my iPhone microphone ? I was singing my seed phrase to memorize it and realized my phone was right next to me. Im also kinda high and paranoid? I see lots of posts about ppl taking photos of their phrases and losing their coins so I didnt know if saying my phrase out loud was a bad idea.
If Siri can keep listening to commands on your iphone why not the other apps. If you have such an app which uses your microphone then the chances of someone listening to it on the other hand is quite possible. Although unlikely as mk4 said it is still possible. But you need not worry about it much since such a scenario is highly unlikely and yeah saying out your phrase loud is definitely a bad idea for someone if not the iphone might be listening to you and you won't even know. Changing the seeds would be a good thing to start with. Memorizing the seed might be good but not having backup of the seeds is definitely wrong. You should always have multiple backups of your seeds and store it in a password protected file or encrypt it as suited. Also, taking photos is not my kinda thing since I am paranoid as well. The first thing which gets leaked from our devices are photos. So I wouldn't risk my seeds in it. |
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