There are already existing loan mechanisms in crypto. It has been around for quite some time. I remember during the height of ICO, I encountered projects which are offering crypto lending services. I haven't heard of them since, though. But there are several DeFi platforms which offer lending services right now. And I guess the demand is quite high. As a matter of fact, Binance has also been offering lending services for quite a while already.

Loan has been a basic financial service, so I think it won't simply go away even if crypto replaces fiat.

This is also my advice to others. If there is no urgent or emergency reason to convert your Bitcoin to fiat, don't do it. If you are only converting your Bitcoin because you are planning to buy the latest iPhone or an expensive bag or whatever unnecessary stuff, don't do it.

Please know that while you are squandering your Bitcoin, other people are saving really hard to be able to buy some. While you are mindlessly converting Bitcoin to fiat, others are borrowing money, selling stuff, and so on just to buy the dip. While you are buying the newly released gadgets using your Bitcoin savings, others are stacking Sats. Be like them!

I'm from the Philippines. Gambling here is generally legal. We have all kinds of gambling here. We have resort casinos, state lotteries, horse racing, cockfighting, poker houses, and so on, but I believe that the bulk of gambling money is moving within the even larger world of illegal gambling. Is the end of these illegal gambling operations in sight? No, because the illegal gambling lords are often the most powerful and influential people.


This is highly debatable. And I can't fully agree with it.

Does it follow that if a person is a true believer of Bitcoin, he/she has to go all in? Does it automatically follow that a person who strongly believes in Bitcoin, and even goes all in, also believes that dollar/fiat will go to zero? I think it doesn't.

Personally, I think it is natural for any currency to face eventual demise. However, it is hard to imagine fiat going to zero simply because of Bitcoin. Even without Bitcoin, fiat will still ultimately face an end.

You must have meant if it's too good to be true, it probably isn't.

Anyway, I agree. Scams are, of course, more or less similar whichever market they are in. So whether they are operating in crypto or in forex or wherever, they are always offering something very enticing, so enticing that it can hardly be rejected by newbies, especially those who are lazy enough to do due diligence.

On a side note, I guess it is more effective for newbies to be given concise reminders rather than lengthy ones.

Could you please expound more on what you are specifically offering? Are you simply asking for people to claim their piece of the pie from you? Or is it a private key recovery service? If so, what information would you ask from your clients to do this?

Secondly, you say this is a group that has been active since 2013, but smartprivatekeyhack.com is created just this year. Is this the group's first website ever?

Finally, and most importantly, what exactly does your goal mean?

You appear to be just another scam.

There is, of course. But, first, I guess FUD is always part of the market. I don't think we could ever remove it. Rumors or even news itself could cause FUD. FUD may be intentional or not. But FUD could only affect the market if people react to it. If people are well-informed; if they research, verify, analyze, and so on, FUD won't cause significant changes to the market. So you can actually contribute to lessen or even eradicate its impact. As mk4 said, accurate information and education are the keys.

All of the above could be summarized under 3 categories more or less: (1) Investment, (2) Dealing with strangers online, (3) giveaways/bonuses. Almost all of them involve random people from the internet asking for money or information.

A newbie should generally be skeptical. The default answer should always be no. Confront everything with doubt. And before even acting on it, doubts should be resolved first. If not, the answer should remain a no.

Also, this forum could be of help.

Well, aside from getting weirder every single day, this world is also more or less free. So I guess you have the freedom to sell your posts as NFT. Of course, only your posts. That's yours. As to you're thread, I am not sure. You'll probably have to have permission from the people who made replies on them.

Meanwhile, I don't think the forum owns what people are posting here. So I guess this forum cannot sell threads or posts created by Satoshi or Hal, for example.

Anyway, I am not a fan of all this NFT crap.

This has been an issue with China for quite some time. China is now rich enough to shower other countries with all kinds of projects by way of loans.

Airports, roads, ports, subways, skyways, and so on and so forth are built on foreign lands using Chinese money. The countries on which these huge infrastructures are built don't have to spend a penny for them to see what they may consider a step toward development. The payment will come afterwards, of course. And it comes with a heavy interest. The indebted countries, mostly poor ones, will have a hard time paying, of course. But it seems China is lenient. They would even continue to grant more and more loans. Of course, everybody knows these are debt traps.

But this is actually not a way to seize sovereign assets from other countries. This is more than that. This is actually a way for China to seize no less than the country's sovereignty itself. China is now holding a lot of countries by their necks. They can demand utmost loyalty to these countries. China has made strong leverage using debt traps. And it seems it has already gone to a point where other powerful countries cannot anymore control.

This is interesting and I'm curious to know what will Binance have to say about this. Did you reach out to Binance and raise this particular concern of yours?

For a long time, I wanted to use Binance's P2P. It has nice volume. The only thing that stops me from getting into it is their KYC requirement. And now I'm surprised to know there are actually P2P traders who are unverified.

But this is actually not the first time Binance says one thing and allows another.

Perhaps the best form of security is providing no indication that you own Bitcoin. Tell no one that you have some. Outside of this, there is really no guarantee that you are safe. Use all kinds of encryption; use 2FA, email confirmation, OTP through your mobile phone, finger and retina scanners; use a hardware wallet, and so on and so forth; that does not mean you are 100% safe. If somebody knows you own Bitcoin and you are held at gunpoint, which would you choose, your Bitcoin or your life? Well, perhaps it helps if you are storing your Bitcoin in smaller amounts in different wallets.

Bangladesh is one of the most densely populated countries in the world. In a country like this one, I'd rather let my money go into real estate.

Interest rates rise and fall. In the same way that the stock market also experiences bearish and bullish cycles. But a real estate property under the country's circumstances is most likely rising regularly. And if you are particularly from the capital city itself, which has the highest population density among cities in 2021, at least as per Statista, with 36,941 residents per square kilometer, real estate is indeed a good investment option.

The problem is not avoiding what you have listed. It is easy to avoid a fake exchange, Ponzi, scam coins, and so forth, but only if they are 100% obvious. People are falling for scams not because they failed to avoid it but because they failed to identify one. People invested because they thought it is not ponzi. People downloaded an app because they thought it is not fake. They clicked on something because they thought it is not phishing. They bought a coin because they thought it is has a bright future. They would have avoided everything had they known beforehand that they are all scams. So what people actually need to learn is the ability to identify a scam. Avoidance naturally follows.

And now here is the Treasury Secretary, Janet Yellen, warning that the government is now about to run out of cash by October 18. That's just a little more than two weeks from now. Even with that bleak possibility, however, the republicans and the democrats have yet to meet halfway about the issue of raising the debt ceiling.^[1]


It seems they haven't yet. The standoff continues and reconciliation is nowhere to be seen in the near future. And now the democrats are resorting to another way of avoiding shutdown. They are now trying to pass the reconciliation bill, which wouldn't require a vote from a single republican for as long as every democrat votes yes to it. However, it seems they are still facing a hard time selling the same to every single democrat in the senate. It appears Senators Kyrsten Sinema and Joe Manchin are opposed to it.^[2][3]

[1] https://edition.cnn.com/2021/09/28/economy/debt-ceiling-deadline-yellen
[2] https://www.cbsnews.com/news/whats-in-reconciliation-bill/
[3] https://www.cbsnews.com/news/government-shutdown-2021-senate-bill-vote/

This has been a problem ever since. And, admittedly, this is hard to combat. For as long as the crypto market is showing proofs that it is indeed possible for a token to grow double or triple in price in just a matter of days, there will always be people who will risk investing in unknown tokens. The risk is always high but since the reward is also high, there will always remain some who will take the risk. Education would help, of course. But when it goes contrary to what some have actually experienced, its effectivity would lessen.

I always support initiatives to lessen the impacts of gambling to the people, especially to the younger generations. Gambling is a predator. It sure is fun, but it is also damaging. So as much as possible, government and independent agencies should cooperate with each other to make sure gambling stays moderate among players.

The mechanics of gambling ads should be carefully studied so that they would only reach their intended audience. They cannot be show anywhere and anytime.

It actually depends on how you treat Bitcoin. If you want to start a business which uses Bitcoin as the primary currency, you might see it as a problem. Furthermore, if you want to use Bitcoin as money, it could also be a problem. But if you are using Bitcoin simply as a speculative asset, then volatility is not really a problem. It could be a double-edged sword but it is generally worth appreciating knowing that your goal is to predict the pattern of the rise and fall of its price and make money out of it.

So you were still scammed? It means you didn't listen to the other users here who pointed out that what you have encountered is most likely a scam?

You were asking for advice. More or less, you got it. Unfortunately, you continued to communicate with that scammer from Tinder. I'm not saying I don't completely blame you for what happened.

You were probably flirting not just with that girl but with a scam all along. The red flags were all there. Well, some lessons are learned the hard way.

I don't have a specific model to understand Bitcoin. And I don't think any of the ready-made models enumerated in the article could perfectly fit Bitcoin's function. But, as in all things in life, whatever proves to be inefficient will have to replaced sooner or later.

Evolution happens not just in the environment but also in other aspects of society, including the financial or monetary aspect. Along the way, a technology or an invention or a tool becomes less efficient. Something will eventually rise up and proves to be a better version. That's seen in the evolution of money. And at this juncture, it seems the fiat technology is running faulty and Bitcoin appears to be the better alternative available.