I don't think Nayib Bukele is going to be able to meet his target of 100,000 BTC in 2024, judging by the 2381 BTC El Salvador currently have. Doing a little maths, El Salvador has 2.4% of the targeted amount of Bitcoin in their possession, I wonder how he's going to get the remaining 97.6% in 16 months. Even the volcano powered Bitcoin mining farm cannot make this happen within this time frame. I expect the president to maximize the bull season and sell some of the nation's stash and reinvest during the bear season.
His mistake was similar to Saylors. He should of bought earlier or bought more earlier instead of later. After musk announced his purchase that is when both of them have been buying bitcoin aggressively. And they bought way too much above the $50K range. And it ended up giving them a horrible average.
Saylors average is maybe $30K or $31k or so and he is barely above it and the presidents is even worse. Both should of bought more when Ftx collapsed and prices were less than $20K but both didn’t do much buys in that area, they instead bought a lot in the $40-60K range. Can’t blame them I guess.
Both Michael Saylor and Nayib Bukele did learned precious lessons from this bull and bear market. They would be smarter in 2024 and 2025 bull run as well as two or three bear years after that. Michael Saylor and MicroStrategy are Bitcoin whales and if we ignore capital source of Nayib Bukele is from his national treasury, we can consider him as a Bitcoin whale too. They started as newbie whales but like us, they can improve their investment and DCA strategy in a next market cycle. Fortunately for both MicroStrategy, Saylor and El Salvador, Bukele that they almost survived through hardest time of this bear market. They can counting down last months before enjoying 2024 and 2025 bull run. Meanwhile, they must be careful in next months which are last ones of this bear market, to avoid liquidations. |
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My first Bitcoin experience is: - I don't know how to use Bitcoin block explorer - I don't know how long I have to wait to see my withdrawal from an exchange to be approved, proceeded then that transaction is confirmed by miner. Consequence is I was panic when after making a withdrawal from one exchange, where I bought bitcoin, to another exchange, where I wanted to trade, it took about 6 hours without a first confirmation. It's in 2017. Newbies must learn how to use block explorers to check on chain transactions, confirmations, and know why their waiting transactions are in top or low priority of miners to confirm. List of useful Bitcoin block explorershttps://mempool.space/ |
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Banks and cryptocurrencies will be used together, central banks and banks or generally governments won't be able to stop it. People have their voice and power so governments can not prohibit their citizens to use cryptocurrencies in all nations globally. Simply, they can not do it in nations where power is not centralized in dictators and dictatorship. Banks will follow central banks that are going to create more CBDCs that will be used by citizens. Citizens have other options, Bitcoin and cryptocurrencies and if they feel unsafe with CBDCs or any cryptocurrency deployed by banks, they will choose Bitcoin. CBDC tracker with information about CBDC developments globally. |
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Today makes it two years since El Salvador made bitcoin a legal tender in the country. Since the adoption of bitcoin in that country. The president of the country Nayib Bukele has accumulated about 2381BTC which he has spent $101 million for the purchase with an average purchase price of $43,357. The price is down by 40% which the BTC price now worths $61 million today.
Interesting information that I did not mind to notice if you don't share it. From El Salvador's Bitcoin legal tender two years ago, price of Bitcoin over last two years and the negative net profit of El Salvador, let's think. Is Bitcoin legal tender a game-changing factor for Bitcoin adoption and its price ? If we look at El Salvador, it is not a game-changing factor. The Bitcoin adoption depends on many factors, not only Legal tender. Balance Sheet History of El Salvador investment in Bitcoin |
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First Bitcoin:
The most well-known currency(BTC) was created in 2009 known as the famous Bitcoin Pizza Day witnessed by the first Bitcoin. The whitepaper “A Peer to Peer Electronic Cash System” laid out the blueprint for a decentralized currency system that reeled on blockchain on January 3, 2009.
First bitcoin on its public ledger and transaction history, is it what you want to write about. Because the transaction of 10,000 BTC for 2 pizzas happened a long time after the Bitcoin genesis block. Pizza for bitcoins?That trade was done with this transaction https://blockchair.com/bitcoin/transaction/a1075db55d416d3ca199f55b6084e2115b9345e16c5cf302fc80e9d5fbf5d48d at the block #57,043, the block #0 or #1. First use of BTC:
First-time Bitcoin(BTC) is used by Small community and tech enthusiasts. The first transection is took place on 10 May 2010 when the programmer paid 10000 BTC in the exchange of 2 pizzas. After BTC the second most popular cryptocurrency appear known as Ethereum was proposed by the programmer in 2013 and launched in 2015.
It is not a first transaction. The first transaction between to peers is the transaction between Satoshi Nakamoto and Hal Finney. Bitcoin and me[History]Hal Finney - Man Who made a huge contribution to the development of BTCFirst Exchange:[/b]
Mt. Gox was the first exchange where Bitcoin’s selling and purchasing started but the Mt. Gox exchange gated hack and caused a lot of BTC loss and raised concerns about the security of the exchange.
Is it a first Bitcoin exchange? The first one is Bitcoin Market. A bit of history: What the first bitcoin exchange looked like |
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The first time I lost my asset was after I connected my wallet to some site where I needed to claim some airdrop tokens. Since it's a multi-wallet, I had more than one coin in it, but after I connected my wallet and claimed that coin, I lost all my valuable crypto assets.
Use small wallets for airdrops because you already knew how risky it is if you use your main wallet to interact with unknown smart contracts for claiming airdrops. If it is retroactive airdrop which is based on your previous on-chain transactions, interactions, you can move your coins to a new wallet before claiming airdrop for your initial wallet which is already empty after the fund transfer. If you unlucky interact with a malicious smart contract, you will only lose small amount of token, not lose all. You can use some websites to revoke smart contract access too. https://app.unrekt.net/https://etherscan.io/tokenapprovalcheckerhttps://revoke.cash/Tips on how to revoke token approval |
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It is not possible to build a correct perception based on these statistics because they are biased or inaccurate to provide an idea of the extent of blockchain acceptance. It is true that blockchain provides transparency and enhances governance and digitization in many sectors, but I see that there are better, more efficient and faster alternatives than blockchain that can perform the same work as blockchain at a cheaper price.
DAG is a good candidate for blockchain. Transparency is achievable with DAG and it does not require energy, mining like Bitcoin. I don't know what you implied with alternatives for blockchain but I guess one of them is DAG. Six alternatives to blockchain for business to consider. In that article, one of them is DAG but so far it has yet been used too popular like blockchain ledgers and networks like Proof of Work, Proof of Stake. |
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Lucky for me, I still haven't gotten hacked and gotten my Bitcoins since I am really careful and cautious about what I am downloading, and maybe I do have a little background on it and know the way around to keep me more safe.
If you use your device carefully, self limit your curiosity and avoid to click on links, visit strange websites, download files from strangers, generally speaking having healthy habit, you will mostly be safe on the Internet. But I do have stories of my friends that got hacked, mostly because they opened something in an email or message that was suspicious, and that is where they noticed that their Bitcoin was now transferred to another wallet.
Click on suspicious email to check it is risky because you can click and download malicious things or can fall into phishing sites and lose your accounts, passwords and your coins. They also trusted their friends because they were trying to invest in Bitcoin and wanted to have one wallet on it because they were also buying some altcoins. His friend stated that they got hacked, but it turned out it was his friend who transferred the assets when he tracked him.
Bitcoin and altcoins are different and don't try to find wallets that can store both bitcoin and altcoins. If you see such wallet, it is wallet for Bitcoin-tokenized tokens (Wrapped tokens) that are not Bitcoin, but altcoins with Bitcoin in their token names. https://coinmarketcap.com/view/wrapped-tokens/ |
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Why is Binance starting to promote this First Digital USD (FDUSD)? And they do have this promo when you trade your BUSD to FDUSD (zero fees), it means they are promoting this FDUSD for me. There are other lots of stablecoins that have already been in the market for a long time and are already trusted by many, like USDT or USDC.
They are repeating the same strategy which used to shill BUSD in the past. In the past, both BUSD on Binance Smart Chain BSC and USDT on TRC20 chain were free in withdrawal fee on Binance. After a while, Binance let their customers familiarized with BUSD a little bit till a time they decided to shill BUSD more seriously. At that time, what did Binance do? They charged withdrawal fee on USDT on TRC20 chain and with BUSD on Binance Smart Chain, it was still free in withdrawal fee. Now they are repeating it with BUSD and FDUSD. Binance Adjusts Withdrawal Fees for BUSD and USDT on Selected Networks (2021)Binance will adjust BUSD and USDT withdrawal fees on selected networks at 2021-02-20 0:00 AM (UTC):
BUSD (BEP20) withdrawal fees via Binance Smart Chain to be set as 0.
USDT (BEP20) withdrawal fees via Binance Smart Chain to be lowered to 0.1 USDT.
USDT (TRC20) withdrawal fees via TRON to be adjusted to 0.2 USDT, and the full list can be found here: Withdrawal Fee Schedule.
After that adjustment, Binance increased fee on USDT TRC20 more. |
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Reading about bonds, I am fearful when the world economy is in recession and cryptocurrency is in a bear market. Months ago, many banks in the USA and some ones in Europe bankrupted as consequences of recession and inverse interest rates that affected initial capital they spent to buy governmental bonds and when they needed to sell those bonds, they had to sell them in losses. What are behind Coinbase Bond Buyback Program? I am not an expert on this but anyone deeply comprehensive understand about this, could you share your thinking? Impact of an inverted yield curve |
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But in my country, the government made it clear that the local banks shouldn't get involved with any transactions related to bitcoin and cryptocurrencies in general and as such, if a bank transaction you're processing has any bitcoin or cryptocurrency writings on it, then there are possibilities of the transaction been block.
You don't have to write reason, purpose of your bank transfer is to buy bitcoin, buy goods or whatever if in your nation, banks work like other nations. If you use Remitano, they will give you a random code that is used for your bank transfer. With this, how banks in your nation knows you are buying bitcoin. I believe you can trade your fiat to bitcoin, without problems that only come if you write in your bank transfer as "I am making this bank transfer to buy bitcoin from my trade partner". In my country, the moment you mention bitcoin to the average person, the first impression they get is that you're a scammer and thisnis because, these scammers mostly received their criminal money through bitcoin and as such people don't really think nice of bitcoin in my country except for the few who are already embracing it.
I think if you feel so, don't mention it. You don't need to make your face worse if those people don't need your advice. If they need, you can share what you know with them but I don't go first and face with risk to be called as a scammer. Give them free lecture, free lunch and they call me a scammer, no. |
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Binance may delist all BUSD trading pairs soon, and Binance has been delisting BUSD trading pairs for the past few months, they have delisted all BUSD pairs for futures trading.
I believe Binance will delete all those trading pairs before February 2024 because if they only allow their users to convert BUSD to other stable coins till that time, it's not logic to have trading pairs for BUSD. Till February 2024, there are some months and till have enough time for many changes. I don't hope anything but I won't surprise if eventually BUSD will still be on Binance as well as BUSD trading pairs. This market is hard to believe but if you are worry, just convert your BUSD and stop trading any cryptocurrency that only has BUSD pair. Months ago, Binance delisted USDT trading pairs and many cryptocurrencies pumped a lot when Binance listed them again in BUSD pair a few weeks later. Is it a joke and internal trading manipulation from Binance? |
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Well I didn't say the country has a ban on cryptocurrency or bitcoin but what I said was that the country makes it seems owning bitcoin is a crime
So far, with my limited experience, I have never known any nation in which owning bitcoin is consider as a criminal. Buying and selling, using it as a payment method, using it as a currency is prohibited are some ban types I know. You are free to own bitcoin IF you don't use any cash or whatever you got from your criminal activities to buy bitcoin or exchange it to get bitcoin. If you owning bitcoin by clean money or whatever mean is not related to criminal activities, money laundering, you won't have problems with bitcoin you store at home. |
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In the mixer area, secure and anonymous domains are the most important. The normal standard ICANN domains can be taken offline more easily.
That is why .com, .net etc domains are mostly not used in this area.
In addition, for mixer users, Tor domain is most recommended by any mixing service. The clearnet domain is not too important for mixing service but the Tor Onion domain is. [banned mixer] has its onion domain is |
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I don't really understand, how is bitcoin a source of income for you? Is it that bitcoin gives you money to solve all your problems without investing in it. You just make it sounds as if bitcoin job where you get every of your money. Bitcoin can't just be a source of income, you can only invest in bitcoin which you can get gains that can help you financially, and this can only be achieved if only the investment is long term.
Bitcoin is not source of income but jobs are. With jobs, a person can get income that can be paid through fiat currency, Bitcoin, stable coin or altcoin. A person must get income through working or from passive income like referral earnings from exchanges or online platforms. Nowadays can not claim it from faucets enough to be considered as income. Days for big faucets are years ago. Get 5 free bitcoinshttps://web.archive.org/web/20100703032414/http://freebitcoins.appspot.com/ |
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If these countries had got big mining operations, price might've varied big. Whenever something similar (like ban of mining) happens, the mining operation in those countries used to get shifted to the nearby country. This time such move haven't taken place.
China crack down on Bitcoin mining caused a Great Hashrate Migration to other nations like USA, Iran, Kazhakstan, ... and the network as well as Bitcoin price are all fine years after that migration which is bigger than any migration of Bitcoin miners from Laos. Surely what is happening in Laos won't have big impacts. Hashrate recovers after Great MigrationAs hashrate comes back online, Mining Difficulty has recommenced a series of upwards adjustments, having risen 27.9% since the Great Miner Migration peak in May 2021.
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If there's a severe drought in Laos and the country can't import electricity at affordable prices, then reducing the electricity supply to crypto miners is justified. I don't believe that the authorities in Laos are using the drought as an excuse to shut down the electricity supply to the crypto miners. If the situation continues I don't think that there will be problem for the crypto miners to just move to another country.
I don't have any data about the capacity of crypto mining facilities in Laos, but I can assume that the mining power is insignificant.
Laos belong to Mekong delta nations with China and in China mainland, we know they usually have big changes in rain, flood seasons. I agree with your opinion on likely impacts of drought on power supply especially hydroelectric supply in those nations. Laos is at nearly the end of Mekong delta so it has more impacts from drought than China. Bitcoin and cryptocurrency mining is not what governments care most for their national economy and related industries that need electricity supply. When their nations' electricity supply has problems, they have reasons to temporarily cut supply to Bitcoin and cryptocurrency mining farms. Bitcoin mining difficulty posts biggest drop since ASIC eraThe difficulty drop is a result of the decline of the average total computing power racing on the network in the last two weeks as many Chinese miner operators have unplugged their machines to migrate to fossil fuel power stations from hydropower plants.
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While I believe Bitcoin will keep increasing in price, price increases will slow down every cycle.
It's already happening, where all time highs are getting less impressive every cycle:
2014: 1400 USD
2017: 19000 USD
2022: 65000 USD
Next all time high will be probably around 100k USD, making an x2 from 2022.
Yes, we can't predict it exactly but a similar increase like we had earlier (from 2014 to 2017) is very unlikely from today's perspective.
Price increase must be smaller in future halvings and cycles because like stocks, when a price is high and expensive enough, market cap becomes big enough, price can still increase but won't have high multipliers as the past halvings and cycles. Nevertheless, it looks not interesting if an investor only want to take profit with one cycle, it is still very good if you can wait like 2 or 3 halvings and take profit. Not too far, from 2017 to 2022, price increases 3 times. If I hold it till 2024 and 2025, price can increase to $100,000 that is 5 times from 2017 all time high. It's very good profit and must be taken into account that risk of losing money because of rug pull, dead project with Bitcoin does not exist. When we talk about profit, we must combine it with risk. Risk and profit come together. |
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