Uh uh, this is going to be a big disaster. This is oversimplifying things indeed. Not only should you choose altcoins which follow Bitcoin's lead, if possible choose Bitcoin itself. Why do you have to choose a different coin when you can choose the one that leads?

Actually, while it may be often true that when Bitcoin dives majority of the altcoins also dive, and that when Bitcoin starts to recover the altcoins will also begin to recover, it is also true that when Bitcoin is so bullish that it rallies so high and quick most of the altcoins will suffer.

Supposing what you're saying is true, then you will indeed be a lesson learned among many newbies.

What I always don't understand is why a lot of newbies are involved in things they should not care about, at least pending familiarization of Bitcoin, its technologies, the market, and so on.

A newbie involved in trading, more so in margin trading, is like a one year-old kid playing with fire. What do you expect as a consequence? It's either the child gets hurt or the house gets burned, or probably both. 

I'm surprised how high the taxes in these states are for sports betting income. This standard seems unreasonable. Well, anyway, sports betting companies always have the freedom to choose their location. They could choose to build their business anywhere they want. If they think a 64% income tax is too high in New York, then they could easily decide to operate from somewhere else or relocate if they're already headquartered in New York.

I'd be wondering why sports betting companies would choose New York, New Hampshire, or Pennsylvania over other states with cheaper tax. 

No, it's not. But the context of this is that there are more than a handful individuals whose accounts in Binance are suddenly suspended. Some of these accounts have balances smaller than a BTC. And here you are floating the idea that it must have something to do with Colombia being a producer of Cocaine and that Netherlands is one of its biggest receivers.

Do you seriously think that individuals involved in this international cocaine transactions use Binance, a centralized exchange which now requires every single user to undergo KYC? Do you think these users who are talking about lifetime savings in the amount smaller than 1BTC are involved in international drug trades? Come on.

There is no depreciation as to the supply of Bitcoin. A Bitcoin cannot vanish. It is hard-coded in the system. It can only be forever inaccessible. Bitcoin converted into fiat, even Bitcoin sent to the wrong network, or lost Bitcoin keys, and so on do not mean the supply of Bitcoin has decreased.

It is totally understandable for some people to convert their Bitcoin to fiat in order to buy something. Bitcoin is not yet that widely acceptable as payment by businesses.

Facebook would have been more successful in the past had they successfully launched Libra than today's Diem. The Libra association which was supposed to be the body overseeing the implementation was an amazing group of huge and very influential companies whose presence covers many parts of the world. But it is already gone.

Also, Facebook's reputation will definitely play a vital role in Diem's success. I think Facebook is not anymore the well-loved Facebook before. Facebook has in fact somehow become a platform for scams and an institution promoting censorship.

It would be a different case, however, had Facebook adopted Bitcoin rather than create its own currency.

My country's average inflation, at least as of August within this year, is still beyond the government's target of 2%-4%, with 4% being the worst. It still stands at 4.4%, with regions outside the capital having a higher inflation than the average.

Of course, the pandemic has caused the prices of public utility vehicle fares primarily due to the social distancing measure. Petroleum prices are also rising. That's another contributing factor to the fare hike. But it is generally beyond the control of the government since the global petroleum market is beyond the country's control.

In terms of food, the prices of fish, poultry, and livestock products have also risen a lot. The African Swine Flu has contributed largely to the crippling supply chain. The shortage of pork caused the price to rise, even affecting other meat products whose demand suddenly rise as well as people are looking for alternatives.

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Sources:

1. https://www.rappler.com/business/inflation-rate-philippines-may-2021
2. https://psa.gov.ph/statistics/survey/price/summary-inflation-report-consumer-price-index-2012100-august-2021

It is always necessary. Where there is that feature available, activate it. Of course, don't forget to save the secret code. You'll need it in case your phone is lost or destroyed.

Anyway, many incidents of Bitcoin theft, especially among newbies, are by way of scams posing as investment opportunities. So I guess I would include in the list that beginners should dismiss right away every investment offer coming from ads, social media sites and groups, email, newsletters, random strangers, and so on. That's regardless whether the ROI is too-good-to-be-true or not. It is always better to err on the side of safety.

Yes, of course. That's basic logic. But there's no taking out of circulation. The Bitcoin that you bought is not taken out of circulation. It is not up for selling, though.

The price of Bitcoin is simply about how much do buyers bid. Since there is a strong demand and there's very limited supply for selling, buyers will compete against each other. To make sure that somebody's buy order gets filled, one needs to put the best price. This is primarily the reason why the price goes up.  

So it is correct to say that for the price to go much higher, more money is needed. It is, therefore, easier for Bitcoin's price to double when it was just $1,000 than when it is already $60,000.

I can only speak of the quality of public service in my country. Wanting is the mildest word you can describe it. The reality is that it is very poor, corrupt, pestered with red tapes, unprofessional, and so on and so forth. In general, it is simply garbage.

But this is not due to the fact, or at least not solely, that salaries among public workers are low and are not adjusted according to inflation. After all, both private and public workers here, and I'm referring especially to rank and file employees, have very low salaries they couldn't even manage to live a decent life. The foremost reason why public service in my country is poor is that there is very low standard, or even none at all. It seems the only qualification is that you are recommended by someone influential.

Anyway, since the pandemic, everything becomes expensive. The prices of goods and services have risen a lot. The only thing that didn't rise along with them is the ordinary worker's salary.

Why was there so much hopping of your funds? For your profit, was it KuCoin ==> Trust Wallet ==> Coinbase? And then there was also Coinbase ==> Trust Wallet for your ETH gas. Why didn't you just directly transfer your funds from KuCoin to Coinbase? Why did it have to pass through Trust Wallet where you don't have sufficient funds for your gas?

Anyway, ETH fees are terribly high, but your money is not lost for as long as you put the correct address. You can check your pending transaction on https://etherscan.io/ or https://ethplorer.io/. The worst that could happen is that your transaction will be rejected and your funds returned to you.

Centralized exchanges have high fees. I'm afraid there's not much we can do about it except by converting your funds to altcoins with cheap fees first before transferring.

This is not a discussion about Bitcoin, by the way.

I am curious as to what the specific topics were in the seminar. My hunch is that it was more or less focused on wise and safe approaches to crypto investment and trading. I suppose the sponsorship of FTX matters a lot as to the general direction of the seminar.

Was there a short overview of what Bitcoin is, its fundamental features, its philosophy, and so on? I am asking this question because oftentimes the problem with this kind of seminars, especially if they are attended mostly by newbies, is that they create an impression or perception that crypto or Bitcoin is some kind of investment opportunity.

Perhaps I'm assuming too much or looking too highly at the Dutch government.


I think you are going too far in the list of possibilities explaining what's currently happening. In the first place, this email was not exclusively sent to users in Colombia. Users as far as the UK, Canada, and other countries have also received the same communication.

Why would Binance seize accounts without good reasons? We don't know. But they've been doing that. Perhaps the triggers are simply too sensitive that their good reasons may seem to us not good enough. Perhaps the exchange is overreacting to certain activities detected in some users' accounts.

I have three points to make.

1. If newbies are participating more in airdrops, that means they are starting it wrong. You said they're falling victims to scammers and fakes. What do you expect? They're newbies.

2. Coming from a newbie, your question is probably the wrong question to ask. Perhaps the questions coming from a newbie should be: "What is Bitcoin?", "How does it work?", "What are its revolutionary features?", "Why is it superior to the rest of the altcoins?", "How come it became this successful?", and more probing questions as follow ups.

3. As new as you are, you have already noticed that newbies are the ones participating in airdrops. That's right. An interesting question, however, is that, why are veterans and old-timers and OGs not the ones highly populating airdrops? Is it because they have already found out more or less that participating in airdrops are not only a waste of time but also inviting unnecessary risks?

There are many sides to the issue of airdrop, but it is now largely reduced to free tokens or free money, unfortunately. That's why it has now become a thing for newbies or hunters. Actually, I wouldn't say 100% of airdrops are not worth it. But it's definitely around 99.9%, primarily because of how toxic the crypto market has grown.

There used to be a time when projects use airdrop as a legit way to achieve wide distribution of tokens. The wider the token distribution is, the wider the network, the better. Moreover, there were also airdropped coins that have achieved significant success. But, again, you need to waste your precious time in order to find that needle in a haystack.


What do you mean your token? Your creation or your gathered tokens from participating in the airdrop? If it's the former, I'm afraid you have too much control over it when you said you could drop the price low and also raise it high afterwards. It cannot go naturally from that point.

This might be a misleading general statement. I'm afraid this is not really a cryptocurrency rule. Transactions on layer-2 protocols such as the Lightning Network on Bitcoin or Litecoin or whatever coin are considered off-chain transactions, but they're not completely free. There will still be fees, though very small.


As an additional note, that's true only if you specifically choose the transfer to be internal and not through blockchain. But users have the option to transfer funds Binance-to-Binance on the blockchain.

Moreover, as others might find it confusing in the act of transferring funds, internal Binance-to-Binance transactions actually charge withdrawal fees. The withdraw amount is actually not the same with the receive amount because of the fees, but whatever fees charged will be returned. It is now up to the sender where to send the returned fees, whether to the sender or to the receiver.

LOL! This response seems familiar. Typical CZ gaming. LOL! Why is it so hard for this businessman to admit what actually happened?

There's no leak. It's simply FUD. There were partial matches on emails, though. And they're investigating. Please someone correct me if I  remember it wrong, but this is also the same response CZ provided during the 2019 Binance KYC leak. The news of the leak was fake. It was merely FUD. But there were also partial matches on the images and personal information. And they're also investigating, even offering a reward for the identification of the supposed hacker as well as VIP upgrades to the affected users.

This man doesn't appear credible at all.

By saying that you will put your bull market profits to good use, do you mean to say that you will be converting your Bitcoin to fiat?

It seems to me you have a plan not to continue HODLing and instead convert your Bitcoin. Perhaps you will do it as soon as Bitcoin breaches $100,000 or more, or perhaps you have a specific price target for selling. If you are indeed planning to do it, the best thing to do when the bear market finally arrives is to buy the dip. Not at once, of course, as there might be a series of dips. But I think it is wise to make a buy back during bear cycles of the market.

First and foremost, are you really the PR person of Swapzone or are you, in your own words, simply vouching for it? If you are simply vouching, then this is by no means an announcement thread and shouldn't be in this specific section. But if you are a legit staff of Swapzone tasked to create an announcement thread here, please do it in a more direct way, unlike the way you are doing it now.


FAQs are supposed to be questions pertaining to the platform you are promoting, in this case Swapzone. So you don't provide general responses. The questions refer to Swapzone. Why respond vaguely?

While China's economy is very much unlike other mainstream economies in the world in certain respects, I think I still consider it a traditional economy in the sense that it is still a fiat-based economy. China's economy is indeed unique. Its socialist market economy offers a hybrid approach which allows both capitalism and private ownership to exist and thrive alongside a larger and more powerful and influential state-owned business sector. However, at the end of the day, they share a common ground with the rest of the world's traditional economies. Theirs is the power and control of money. This is something they simply cannot let go. And that's the primary reason why China will never ever adopt Bitcoin as a currency.