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With this virus in the way and everyone is trying to stock up with necessary supplies to keep us off meeting other people to reduce exposure & with this social distancing we need every coin we can get our hands on to buy the necessities because we don't know how long this will go on for...your health must come first not your BTc holding. Though OPs advice will be taken when this go back to normal.
You know what I did? I decided to buy at $4.7k, bought around $3k worth and sold at $6.7k today, with that money I'll be able to mitigate a bit what I lost, hopefully price recovers soon as I indeed don't want to sell at this price. But I think in the near future price will continue to drop, maybe we'll see it bounce back to $10k sometime next year (but don't take my word for it, it's just what I honestly think) |
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I think it's pretty clear that KYC defeats the whole purpose of bitcoin/crypto. It makes no sense to sacrifice your identity to use something pseudonymous. Also, we have many decentralized/P2P platforms as alternatives... Trading fiat? LocalCryptos/BISQ Alts? See this list. etc. Sadly, people don't look at these options simply because they're not as convenient and fast as the centralized exchanges. While I agree that KYC defeats the purpose of crypto - It's a compromise that these platforms have decided we need to make if we want to enjoy their services. Think of it this way, the GOV asks for exchanges to be compliant or to get out of their jurisdiction. Reasons why some platforms prefer certain jurisdiction is, well, up to each platform. So they acquire their legislations and implement them on the platform. You don't want to give KYC? They you probably are best off looking for a P2P alternative albeit keep in mind that rates usually suck for FIAT pairs on P2P platforms (at least in my experience), what I'd suggest is either go full crypto that you don't need FIAT for anything else in your life (hard at the moment) or go out and VOTE so that your government faces the truth that we don't like being spied on. It's hardly the platform's fault, rather, the governments. |
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I've seen how mainstream events like the coronavirus "COVID-19" and the downfall of the stock market, has negatively impacted Bitcoin's price across the crypto market. For a cryptocurrency that's been hailed as a safe-haven against traditional Fiat, it's been doing otherwise. Gold has been performing better than Bitcoin and other cryptocurrencies combined. It's odd to see something like this happening today since Bitcoin is a decentralized cryptocurrency. This should make it "immune" from real-world events whatsoever. Bitcoin's latest decline in price has shown us that the cryptocurrency is still linked to mainstream events. It's probably because Bitcoin is often traded on centralized exchanges than decentralized ones. As long as it stays that way, Bitcoin will never be able to become a "safe-haven" asset in times of turmoil. Or am I wrong? What are your thoughts?  While it's hard to deny that the current bitcoin price took a big hit, I don't think that the point is not for it to be just a safe haven, if we consider it like that then not only this event but many others could easily wipe out bitcoin from existance, again, under that premise. Now, when I talk to people about bitcoin they all usually refer to it as however many they have, or what's the position as in why they sold and whether they'll buy back, you see, when I need a certain currency I go to a trading house, go, get my euro or my pounds or whatever but if somebody ever asks whether I have some I'd probably go "sure I haven't changed the last few bucks I didn't spend", with bitcoin it's never like this, people see bitcoin as something they can store value on, some people sell because they need money in x amount of time and have a set sell price in their mind and I respect it, people buying euros or pounds don't worry too much about whether to sell and buy back, it's just not heard of. |
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Sounds like wishful thinking on his part. Not only in thinking that they're going to change peoples' trading behaviour, but also where he's clearly in denial about the part where what institutional investors do is absolutely 100% still gambling and no amount of analytics will change that. Some are just safer bets than others. Crypto has opened the floodgates to people outside of the traditional finance sector. It's only natural Dorman believes things would be better if they acted more like institutional investors, but they're simply not going to. Ordinary people are going to treat it like gambling. Some of them are going to buy into a random coin because they like the sound of its name, or because some bagholder was hyping it up on reddit and sounded vaguely convincing, or whatever other completely irrational impulse they had for buying into it. The analysts can come up with whatever formula they like, but I suspect the general public are going to keep doing whatever and continue with largely random buying and selling. If the analysts need a head start, the groundwork is already laid. That topic contains all the fundamentals you'll ever need to judge a coin on. A bit biased the thread you sent, but so much truth! I agee with you that Jeff Dorman seems obvlivious (intentionally or not) about the fact that all investments are a gamble. I find it interesting how many of my friends have contacted me because "you're the bitcoin guy" and the projects they get offered are so full of crap, ponzi schemes, or easy to dismiss if you're knowledgeable in the area. That last part isn't entirely related I just think that bitcoin in general has to appeal to the average joe, and we're not quite there yet. But we'll get there in time  |
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Today, I and my friend successfully held another bitcoin seminar. I remember how local the last seminar was, however, we stepped up a bit by advancing into a different and more convenient place and also, some edibles! Today, we elaborated to a new set of youths (±5) about bitcoin (and some other currencies). I still remember how surprised one of them was when he heard the price of bitcoin. However, I didn't forget to tell him that it's not about the price nor the price history of bitcoin as it has a volatile nature. I and my friend who held the seminar told them how they can earn from cryptocurrencies like bitcoin and the rest. We took enough time to elaborate. They were all very zealous and I loved that! We clearly warned them of the disadvantages of bitcoin and other cryptocurrencies. I personally helped them sign up on the bitcointalk forum to help expand their knowledge. And also, they all have a bitcoin address. After everything, we reminded them that even though they didn't pay for the seminar (they only paid for the edibles), it wasn't the end of everything as we would follow them up. Phew! I feel relieved. View the photos 1. https://ibb.co/PQ6BXhH 2. https://ibb.co/vL1gZ7L 3. https://ibb.co/phR4NzyI hope I have the energy to continue doing this! For those asking who the OP is, I am the young guy wearing the bitcoin top. 😄😄 That's so great to read! This is a great way to spread awareness, it doesn't matter how small of an effort, it's the fact that effort is being made from so many different fronts that I am convinced that bitcoin will prevail. Keep sharing seminars! I love to read local efforts like this. |
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I had that once and the bank cancelled the payment. I made a mistake in the IBAN but put the right name and address, which did not match the credentials on the IBAN.
It's unfortunate that the bank cannot sent the money back and charge the account that spent it. Many banks do it because just 1 wrong number makes the money go to a completely different person. Banks were supposed to be better than crypto due to reversability of transactions.
While I disagree that banks are supposed to be better, it's the other way around actually. However, putting 1 digit wrong on bitcoin addresses don't necessarily mean you'll send them to someone else, unlike in banks, copy pasting the wrong address definitely will though. Both cases are easy to avoid imo. |
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Could it be because the demands still the same while the supplies gets lesser and lesser?
Miners will only mine about 6.25BTC after this coming halving, they may find it not profitable at first few months I guess but then the lesser coins they sell the higher the price could be as it will turn out the system itself is hoarding the supplies while people kept buying BTC. While the price keep growing, the miners will soon find out that its going to still be profitable to mine because prices is growing.
Kinda like it has already happened in the past. Last halvening true lasting effects on price didn't come into effect until about a year after it happened, so it's really not all immediate either |
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That is a great video and also in that way it can help to promote Bitcoin. Let me innumerate it here the list of what are those ways to promote Bitcoin that stated in your video. - Personal conversations through friends, colleagues, siblings and etc.
- Holding/conducting a seminar
- Writing articles such as blogs
- Making memes, stickers and giphy
- Making Videos
Yes, there are a lot of ways to promote Bitcoin but it doesn't mean they will easily learn with it. It will probably take time for them to understand very well how Bitcoin works. Explaining to people about Bitcoin without technical knowledge to understand how it will work is not easy for them to absorb in their minds. While this is good advice, I'd like to point out as someone that advocates bitcoin day in and day out, some people really don't understand what the fuzz is about, more specifically they still think that bitcoin is some magic thing and will believe anything they get told if they get promised earnings. I can't tellyou how many times I've had people come to me, tell me "I'll give you money monthly but return me some extra % back and we'll make business", that's not how it works. However, some "traders" and "forex specialists" offer for example a 2.5% return daily of whatever you invest and you can withdraw after you've done some bullshit amount. What I want to get to is that some people can't be helped, if they don't want to learn what bitcoin REALLY is about, even in principle (no need to program or no need to calculate a hash by hand to understand it), then they probably aren't worth the time. You will find people like this everywhere so be mindful where to invest your time effectively. |
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Bitcoin started its new year by raising the price, and people's interest and the result is Google search for "bitcoin" has increased about half since December.
In bitcoin, Nigeria gains the most interest and standing on top. Nigeria has consistently topped the chart in the past 12 months.
These are some keywords searched most on Google.
Keywords. Search no.
Bitcoin. 1.8M
Bitcoin today price. 2.7M
Bitcoin price. 2.7M
Bitcoin price today. 2.7M
Bitcoin news. 201000
Bitcoin price USD. 90500
I'm surprised "Bitcoin price USD" is higher than "bitcoin usd" or "usd bitcoin", that's what I search for when I don't have my price monitor open. But that's probably just me I think |
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I have questions, what can you say about buying Bitcoin that was used in doing illegal activities? Does it have any differences with the usual thing we do? Does it have lesser value because it was from illegal activity or does it cost higher because of the bidding? And what does the government do after receiving money from the auction? Do they use it in a proper way or simply, do they add it to the government's asset?
Tim Draper, a major VC investor, bought 30,000 coins seized from the Silk Road. I'm sure he would have no trouble at all moving them on for just the same price as any other coin. They've basically been 'cleaned' by passing through government hands. This lot don't release their sold prices. From hints from failed bidders it's usually slightly below the market rate but not significantly. It all depends on who turns up on the day to bid. The UK police recently did a public auction of seized BTC and the prices were more than the headline rate on average with a few exceptions where people clearly didn't understand the difference between BTC and BSV etc and radically overpaid. https://thenextweb.com/hardfork/2019/09/27/uk-police-bitcoin-cryptocurrency-criminally-seized-auction-ethereum-ripple-satoshi-vision/Dunno where the money would go. Maybe back into their own budget. Who cares? Tim Draper is the same guy who claimed that BTC will be eventually having an exchange rate of $250,000 per coin (the deadline he gave for achieving that level was 2022). The price that he paid for the 30,000 coins was never disclosed, but it was rumored that he (as well as the others who purchased Silk Road coins) paid a price which was higher than the prevailing exchange rate at that time. One reason given for the higher price was that the coins are now 100% clean, since they have been passed through the hands of the US Marshals. I've seen not just from him but from a lot of bitcoin followers this sentiment replicated, the fact that bitcoin will reach over $100k within the next few years. I think the auction is not a great idea just out of how high the entry cost is, but it probably isn't aimed at regular people either so my opinion doesn't matter. |
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Another theory about Craig Wright aren't we have enough from this person?
I wonder what would be the next topic about him everytime a famous person speaks about him would be a big topic on crypto.
It's our fault for keeping this thread alive. This if my first comment on this thread but, yeah. If it's relevant is because we've made it relevant ourselves, even if its just to criticize it/him |
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Hello guys, back in 2017, during the heavy bull run, I visited my former office and meant some friends and told them the need to key into bitcoin. One who is now occupying my former position at the bank interjected and said "someone just left here to to lay complain how he paid a huge some of money to a bitcoin seller who then scammed him", bitcoin was never paid by the scammer. I asked them to send the person to me for a free tutorial on bitcoin and how to safely buy and store it, I never hear from them again till date. The victim had try to bitcoin because he heard he will double his investment in a week, I told them that is not how it work.
After getting and reading repeated complain of how persons are been scammed in my country while trying to buy bitcoin, I decided to make 4 banners on how to learn how to safely buy/sell bitcoin and other cryptocurrency, and to address the wrong notion about cryptocurrency. I got some calls and follow ups. But most are not interested in buying and holding but want to give me money and be giving them a weekly or monthly returns on investment, when I tell them that is not how it actually works, they will reply they have found a program online that pays some weekly % ROI, I try to stop them from putting their money there, they either stop picking my calls or tell them they are okay with their findings.
I am just weak and heart broken how people are lazy to attend class that will open their mind and eyes to existing realities and set them free from lifetime mistakes. I am dazed by their foolishness in the issue of finance. My banners and office is still open but won't force anyone to learn. I hope they don't learn the hard way.
Yup, I found the same thing with some Venezuelan dude here in France, he told me he's always been interested in "investing" and asked me how much money I could give him back daily/weekly. I tried explaining that's not how any of it works but he didn't give a fuck. Not to say nationality was a issue, people are just lazy in general. |
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