Regardless if it's easy to trace the funds to the thieves or not, it's obviously simply not worth risking. $5 wrench attacks have always been a risk, since like forever even before Bitcoin existed. Hence why I'm a hard advocate of simply not letting other people know that you own bitcoin/cryptocurrencies. https://github.com/jlopp/physical-bitcoin-attacks/blob/master/README.md |
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Quite surprising how after a decade, this proposal has been made just now. Though it's really funny how people (I'm guessing blogging beginners) who do this loophole or "trick" as if it actually helps them SEO-wise, because it really doesn't. Especially knowing that a lot of the links that these people spam here aren't even bitcoin/crypto related to start with.
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Great to see that!  And is it tax legal for them? It is totally legal as long as you accurately report the transactions to tax authorities as they should, obviously. In the end they're mostly just receiving Philippine pesos anyway. |
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To sum it up--"Buy when the price is low and sell when the price is high, BUT invest only what you can afford to lose."
Sorry but bro you pretty much just combined like 2 of the most generic trading/investing advice in existence. You made it sound as if your 'strategy' was some new and groundbreaking lol. |
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Converting bitcoin to hard cash in times of downward trends.. so you pretty much just described a typical cryptocurrency exchange? Just with a useless token? Haven't you learned from the 2017 ICO bubble? Just randomly slapping a token on a platform won't automatically make it better.
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^ I don't see that there is BTC accepting payment.
How the process of the payment is made?
It is a centralized wallet and I don't think it will accept BTC as a payment or other crypto, it could be accepting payment from fiat through your local wallet.
It's like Coinbase. You can pay using crypto directly off-chain for zero transaction fees (like how Coinbase <-> Coinbase transactions are free), or you can pay on-chain with the typical blockchain transaction fees. Another question, is there someone willing to pay a BTC even if we are in a downtrend situation? All shown above on the picture was an electronic wallet which I have doubt that it is your local currency was been accepted.
What do you propose? That they put up the Coins.ph logo only when bitcoin is at an uptrend? |
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But you failed to mentioned which coin their accepting is it Bitcoin or other altcoin that are in stable form such as USTD?
It's a safe assumption that the business will accept any coin/token that the centralized wallet supports, as the business would very likely immediately sell the coins/tokens for fiat anyway. |
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Cryptocurrencies were never "safe". Outside of bitcoin, pretty much every single cryptocurrency outside stablecoins are very very experimental.
But to answer the currency question: most currencies are widely widely adopted and have been traded for multiple decades. Bitcoin is like more than a decade old, and most people don't even know what it does and why it's important.
As to your friend: if he thinks he can profit off of forex far easier, then why even force him to this industry? You don't necessarily need bitcoin or crypto to get rich.
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Why invest if you're not willing to do the work and make the decisions yourself? If you're just going to ask around for what to buy then simply don't invest and spend your money for something else you're interested in instead.
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At some point we're going to break from the price trends of previous cycles. Remember the famous stock-to-flow ratio? Yea, got invalidated this cycle. Sometimes things tend to not follow the trend if almost everyone expects the movement to be the same.
Pro tip: DCA
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This time? When did Elon Musk save Bitcoin in the first place? His announcement of Tesla purchasing BTC just gave us a temporary pump in price, and that's pretty much it. You've worded it as if he saved us from a huge exploit or something.
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What are your strategies for coping with the Bitcoin and crypto market crash?
Nothing. After being in this industry for 6 years, you simply just get so accustomed to being down by huge percentages. The only difference is that I'd be spending far less money on useless crap, and start deploying more money to the markets. |
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Or, if we go full tinfoil hat..
Were those coins actually bought by them with real money and they were owned by them in the first place?
Or were those coins borrowed for this purpose alone, that would have been paid with money from future sales?
Yes it was. They were openly slowly but surely converting the UST for USDC through high-liquidity stablecoin DEXs like Curve. The other interesting part is, will there be any consequences for all the money lost, any investigations, or, the whole crypto world is just an add-on of the old system where you can run banks and companies into the ground, lose billions of people's money and not face any consequences? Cause for me it's starting to overlap dangerously close.
Terra/Luna/UST is a big enough project that it's been getting headlines on traditional news sites. I wouldn't be surprised if this fiasco would be used by the authorities to create laws against bitcoin/crypto. |
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This is very important question to ask and something we should know at the moment on what the Luna foundation guard (LFG) is actually doing at the moment with there Bitcoin reserves. Because most investors with bags of Luna are currently stucked with confusion at what alternative option or steps to take in order to protect their Funds at this very critical point in time.
Nada. LUNA holders took a risk on a project that's highly highly likely to implode (it just did), and now they face the consequences. TerraForm Labs would have to raise a HUGE amount of money to be able to bring back the peg, and I don't think VCs would risk their capital on a project that's highly likely to be dead. Is it a sign of just how completely out of touch I am in this field that I never once heard about Terra, or UST, or any of the supposed implications on Bitcoin until yesterday? And that's only because of work -- someone sent me something to look at about Terra, and I had to look it up.
I've seen a lot in my time but 20% APY? That should have raised a lot of red flags. But well, this is crypto, isn't it?
If you want to know what happened: UST is an algorithmic stablecoin a.k.a. backed by the LUNA token. Hence it's pretty much almost backed by thin air; hence why Luna Foundation Guard had to purchase a good amount of bitcoin to protect the peg if it's the case that there's a bank run.
And yea, it happened:
Peg broke due to UST having a huge bank run, with people selling the UST for other stablecoins (hence pushing down the price of UST). Now for the peg to be restored to $1, Luna Foundation Guard had to liquidate a crap ton of bitcoin on their reserves just to push UST back to $1, further pushing down the downward pressure on BTC.
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You're pretty late as the selloff of LFG's bitcoin holdings has started since yesterday; their public BTC address is already out of BTC (moved to exchanges already). The question is just that have they already sold every single BTC holdings or not.
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Sorry for being harsh here, but why invest if you're not willing to do the work and make the decisions yourself?
But just to answer your question, the next halving is like 2 years away. A huge majority of coins and tokens in the cryptocurrency space have the tendency to be fleeting where 'good' coins/tokens to buy today will be totally different in just a few months; hence why it's really difficult to say what the good buys will be outside BTC. 2 years is like 20 years in the cryptocurrency space.
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reason being that I have come across some other websites as well that have bitcoin in their names like "bitcointalk", but all they do is advice you to invest with them.
There's a significant difference Bitcointalk doesn't sell you anything. It's just an online forum where people talk about bitcoin/cryptocurrencies. I hope my time here will yield life changing results, what do I need to know?
What do you want to know? And what are your goals that you want to achieve in the first place? Also, you might want to look at the forum rules: https://bitcointalk.org/index.php?topic=703657.0 |
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It boggles my mind how some people as early as 2011 could've foreseen this with confidence. Like good lord it takes a crap ton of conviction and a huge pair of balls to be able to be this bullish when at that time they didn't even have Andreas Antonopoulos; then you get the next response with a dude that put all his money into bitcoin at 2 digits. Oh my god. |
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Not sure which specific part makes you think it's "shadowy", but it seems like pretty typical marketing to me. You pay a huge influencer (Nas Daily is pretty huge) and the influencer promotes you (and your business/platform) on his social channels. Nothing really new here.
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