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Bitcoin doesn’t mean shit freedom to me, besides it doesn't place me above some governments laws, just imagine putting tax on crypto gains, then even my government now has right over my bitcoin that shit is fucked up, we can't stand around and pretend that bitcoin hasn't gone from what satoshi envisioned into what circumstances has molded, majority of bitcoin are stored and under control of exchanges which are subject to government policies, p2p transactions that doesn’t rely on trust is shit now cause I don't see that happening even with new technologies, check out gas fees they are high as fuck, developers are no where near fixing scalability to the level that it can handle transactions around the world, what bitcoin can handle is what it is given now, no normal person would prefer to pay such high gas fees for daily transactions.
To me bitcoin is just a. Investment asset, it hurts me to say this but I don't believe in the vision of satoshi coming true, and we can't find freedom in bitcoin or even full anonymity of our money and asset, all bitcoin can offer to us now is just a way to better our future and achieve good success for ourselves. I Don't believe in this world all I believe in is if you want more peace and more freedom get richer, get the fuck out of the rat race of earning a living off salary and government jobs, invest in bitcoin for your better tomorrow.
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It's never too late to start investing in bitcoin that what you should know, bitcoin is expected to hit a new all time high this year of 100k and some are even speculating above, and the price now its still around 50k. When bitcoin started many wanted to wait to see how it would turn out, after it reached its first all time high and crashed again around to a few cents, those people still didn't take action and some has been busy watching it and speculating the price of bitcoin till then and even now some are still going to just be watchers of history, bitcoin it's still one of the earliest asset since its discovery, gold has been around for more than 2 centuries now since its was stated as an asset, same with land, properties and other kind of asset, even stock are quite older than bitcoin, but since its emergence bitcoin has shown greater potential than all, in just 13 years of bitcoin as an asset it has grown up to more than a trillion market cap, while gold still lingers around 13-14 trillion, bitcoin still has more potential and is still showing potential to even exceed more than 200 trillion market cap maybe in more years to come.
If you look at Bitcoin structure it was made to be a very scarce asset with only 21 million market supply value and I can't be exceed, if you are a conversant with the law of supply and demand, when goods are scare they would be more demand and hence it would add in value and that exactly how bitcoin was structured, every year new investors continues to look at Bitcoin and yes they would be a time that we would struggle to buy few satoshis and having a whole bitcoin might seem impossible for an average individual, so yes it's still very early to start, but bitcoin, hold bitcoin and you would never regret it in years to come. And the faster you make this decision the better for you.
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I don't and have never heard of the possibility of someone's private keys to be compromised without them leaking some informations or sharing it, neither have I heard any reports of this almy site generating peoples private keys, if private keys can be compromised or start getting compromised, then the issue would be from the blockcjain and developers for keeping room for such error, and what would be the need of the so called self-custody when we can keep our private keys from beign hacked by a third party and we played no part in it.
I Don't really understand what's going on and why you posted your private keys as prove but I think if yours was compromised then you must have mistakenly installed a spyware on your device and we know how skyward works it reveals your details to the attakers, many almy is just a storage for all the compromised private keys and wallets 🤷♂️.
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The reason to NOT diversify when you don't have very much investment tends to revolve around that it is not necessary.
The reason that people tend to diversify is to take risk out of their holdings, especially if the size of their investment portfolio starts to grow to significant sizes, so if you are just starting out you may well not need to diversify, and also you may not need to diversify beyond cash and bitcoin until after you might build your BTC investment up to a size that you start to feel uncomfortable having too much in bitcoin and/or cash and nothing else... but there are some folks who choose not to diversify beyond bitcoin and cash, and that is not completely wrong, even though it could have some problems by not having a bit more value spread out, especially once your investment portfolio might start to become the size of several years of your income/expenses.
In the bitcoin (and/or crypto) space, the use of the term "diversify" is frequently used to wrongly proclaim that people need to get into shitcoins, and sometimes it is misleading in regards to the concept of diversifying across asset classes rather than within the same asset class, which surely in the "cryptospace" bitcoin is the leading asset so it hardly makes any sense to diversify within the asset class to other assets within the same class, unless you might want to limit such exposure to a small amount .. or maybe if you are just distracted and you don't know what the fuck is bitcoin, then you might conclude that there is some value in buying shitcoins.
Another misleading part of diversification seems to be that some folks want to argue diversification for the mere sake of diversifying, but they have no clue about the reason why they are diversifying, and if they end up doiong that, then likely they are just diluting their investment, and it is worse in the case of people who might not have a lot that they are able to invest... so if those people with small amounts to invest end up diversifying (or overly diversifying) then they are not able to advantage for their knowing a good asset such as bitcoin and they end up not putting enough into bitcoin and putting way too much into crap and they are not starting out with much value in the first place.. whether we are talking about $10 per week or $100 per week or some other relatively small value amount.
The way is see it I think that most newbies that feel the need to diversify have not understood the value of bitcoin as an asset, and most of them think in terms of the more asset the more safe I am, but they fail to understand that having little value in many asset is a waste of time and they miss out on compounding value of bitcoin, what newbies need to see is that having value in one asset like bitcoin would be better than diversifying. And I think it's good to only diversify when you have enough cash and income value to mange it, most newbies have very little cash and income and still want to diversify, there by reducing their allocation to bitcoin and would not end up meeting a goal of having a substantial amount of bitcoin within 4-5 years which should be a first stage of maturity of their investment. |
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If you want the best advice for your finances then you should not be taking any one on this thread comments as instructions just as advice, at the end of the day its your money and you must do your own research, they is no need to rush into the pre sale if you have doubts about the project and even going through their whitepaper doesn't guarantee that they are ledgit because most scam projects hire professionals to write their whitepapers and recently it has become hard to detect this project through such means.
If I were to give you my opinion on the matter I'd make reverence to the last project that used hype to promote themselves was squid game that used the fame of that movie to promote their projecti head it didn't last up to a month and scammed people over 14 million dollars, if your there because of the hype then you should be more careful, scammers can use any means to promote their projects.
Be calm when you want to make investment if not you would regret at last.
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[edited out]
Well if they only have small capital to used then I think they should not focus to hold since there's nothing gonna happen with them if they only decide to hold the small amount of money since if they calculate the profit they get for long term for sure they can only get less that's why instead of focusing on one thing much really better if they split their investment to half and use the 50% for trying to make your money grow by either you trade it or use it on other options that you think can give you a decent profit. The half is automatically for HODL. For sure people will see the best result if they try to find ways to make their bitcoin grow since this can give much better result especially if they are wise taking those good investment online. I also know its hard to achieve to get good profits or the passive ones but if we gain a lot of experience especially dealing with those risk for sure we can figure out what's bad and good investment for us. You sound either retarded or like a degenerate gambler. You don't build wealth by fucking around, but hey people can do what they want. I would suggest that anyone investing into bitcoin to limit his degenerate gambling tendencies to no more than 10% of his bitcoin holdings, and if such degenerate gambler might have only a low amount that he is able to invest, it likely would still end up adding up over the years, even if you are merely investing $10 per week, and maybe even adding to your investment with the passage of time (as I attempted to outline in my above examples) as you make progress in building up your investment size. If you are fucking around with half of your available cash as avp2306 suggests, you may never make any progress and you may well end up staying poor forever, which surely would not be a good position to be in when you are 10, 20 or even 30 years down the road and have been gambling rather than investing all your life when you could have spent time and discipline developing and employing sound investment practices. I've taken some time to think of it and i totally agree and stand by what you advised in the past, to me I don't think gambling with even a small percentage of your holdings is a good practice and could even slow me down in my accumulation journey at the end of the day or I end up making no real progress in many years of such practice. IMO if anyone must succeed especially newbies we must have clear understanding of what we should do in our early stages of accumulation and what not to do, I dont think a newbie should be concerned or engaged in such practices that would limit his accumulation of Bitcoin in any way that he has to limit his allocations to satisfy other needs, and moreover gambling can become a dangerous habit if not controlled and later leading to even us allocating more than planned to gamble more, just imagine a newbie starting with little capital which is already at a disadvantage of size now engaging in gambling he would end up stuck with a very small bitcoin if he doesn't take time. What I think is newbies in particular should stay clear from gambling practices and if they must it should be after at least 4-5 years of accumulation before they think of such, earlier in this thread when @JayJuanGee explained it to me he was talking about more matured investors should be the once to allocate like 10% of their holdings to such practices not newbies who just want to start investing. |
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During 2021 when bitcoin was on another massive bull run many altcoins followed just like Ethereum that about 2k or 3k for the first time and bnb was on a massive price increase, lots of people were earning from altcoins back then, altcoins became so popular back then and much investors rushed in during that period before the bear market came and much investors rushed out, 2021 came with both tears and joy. Many scam project ripped people and that same period was when staking pool was at its peak many people had bad experience during 2021 and many had good experience.
But here we are another bull run, same experience would happen, some would still get scammed but some who get lucky turn out to be successful at last.
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That's why most people want to return back to the old way of trading which is using decentralized exchanges and some exchanges that didn't require KYC. I missed those days when you didn't really need to send exchanges your personal info just to trade bitcoins but right now, you have to, especially for local exchanges that didn't require this method before, they need to ask their users for it because the government is also monitoring their activities. this all happened due to the recent incidence of multi-million scams across the country and the result was tight security of all exchanges. Nevertheless, if you don't do anything wrong, then you have nothing to worry about because you are clean, but if we have another good choice like some exchanges offer full anonymity, that would be good.
Full anonymity lead to the ban of one of our best black markets the silk road market place, it functioned fine as a back Market and what happened, so many criminals found a new way to hide their crimes and some government officials used it to steal funds without a trace, I can't blame the government for their resentment towards bitcoin even if I know they want to have control over it in a way, but that's what they do, control people. And how can we regulate and stop crimes with full anonymity of users, not everyone is genuine like you and me, I think some actions has been necessary up to date, even the creation of centralized exchanges and it doesn't stop you from holding your bitcoin or digital asset yourself. |
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@michelle, don't forget is a Bitcoin discussion thread, using the word crypto may implies including altcoins which is not included in the topic of discussion.
I think you are getting something wrong here. Bitcoin is the crypto itself. Every other coins you see today were built around bitcoin. Many people only know bitcoin when they hear the word crypto. There are people out there today who doesn't know that other coins exist, so when they hear about crypto the first thing that comes to their mind is bitcoin. Bitcoin is the crypto currency, if you are not aware of this know it today. If he had mentioned alt coins then you can say he is referring to other coins. So @Michelle is not talking out of point when he used the word crypto. If you see a newbie that has no knowledge about bitcoin investment, ask him or her what is crypto, I bet you the person will mention bitcoin. In the earlier part of this thread, if I'm not mistaken, I think @JayJuanGee stressed the need to avoid using the word "cryptocurrency" when generalizing Bitcoin and the other coins out there. The reason being that while many funny things have been done leveraging on cryptocurrency, Bitcoin have remained clean since inception and people tend to taint the image of Bitcoin whenever they unleash their clandestine plots. Therefore, such clarifications is important and we must make effort to make people understand that Bitcoin is different from whatever people promote under the guise of cryptocurrency with the intent to steal. In addition, I don't think there is officially any word like "crypto" rather it was coined as an abbreviation for cryptocurrency. So instead of regarding Bitcoin as crypto, why not we just address it as Bitcoin which is by all standard more popular and acceptable to all! Crypto is a general term and I think we need to understand this, bitcoin has a name and we should try to call it that way, saying crypto can confuse others to think that the rules and conditions that apply to bitcoin apply to other coins, and as we know other coins include shit coin which are mostly worthless and they all depend on bitcoin to have value. Using the word crypto is going off topic in this thread. |
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Like the title says what are the rules. If I miraculously got a private key to a wallet that had Bitcoin in it but was not mine originally then does that mean I now own the wallet like finders keepers and is there any legality issues with this in the usa,uk,canada,south america. Is this more of a morality should you or should you not.
Such miracles don't happen, but I it does, you just got yourself free bitcoin, they is no way I trust anyone to return it and how would you even know the owner of the wallet. Wallets are actually location on the blockchain where your bitcoin are stored and private keys are your access to the location on the block chain, I Don't think there is anyway, you would actually end up with someones private key even if you try to guess. You didn't hack so I don't think any laws are against you on this. |
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Sorry if it seems like a stupid question, but even though I reasonably understand crypto, I'm still taking my first steps with bitcoin.
I don't think you need to apologise to anyone for putting your own safety first, many newbies dont take take this step and end up losing their asset along the line. You can use different wallets based on usage if you deal or do more transactions daily or weekly, you can use a custodian wallet, not to store your holdings but for the purpose of selling or buying crypto, you know its risky to store your asset on custodian wallet cause of the risk of hacks and they have full control over your asset in your wallet and government mostly regulate them. If you want to save or store your asset, it's best you use a hardware wallet and an open-source wallet like Electrum, which are non custodian and only you have access to your holdings and your private keys. |
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I dont think anyone cam manage to invest in bitcoin without been able to provide for his basic needs at least and in some countries the economy is so bad that one needs to hustle to a level before he is even able to take care of his basic needs and then start thinking of investing in bitcoin.
I think that anyone investing in bitcoin should be for the long term hold, and for any person to successfully hold for long it require some level of financial balance and disciple, he/she has to have an emergency funds for cases like health issues or even unforseen circumstances that can occur that would lead to him selling his holdings to survive.
The best way to invest is when we have our emergency funds well build and then we are sure that we can manage our expenses to create room to invest or allocate a little amount to buying bitcoin weekly using DCA method.
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While I agree partly that in the current reality in early 2024 "investment" (aka speculation) is the main goal most people follow when they buy Bitcoin, I disagree that there is some hard technical limitation which makes Bitcoin qualify as an investment asset only, forever. This only applies to on-chain Bitcoin transactions.
There are challenges in the scaling issue, yes, but there are also solutions. Lightning is struggling a bit with adoption currently, but there is finally some movement with sidechains (ZK rollups etc.) and other L2 solutions, where slowly more decentralized concepts appear. As on Ethereum there is already more variety, and the concept seems viable and popular, I don't see why this shouldn't be achievable with Bitcoin too.
If you were right this would actually be a quite pessimistic stance. As an "investment" vehicle alone, Bitcoin would not have any real value. Bitcoin has USPs like censorship resistance and worldwide availability. While these characteristics can also appeal to "investors", if they "invest" using their own wallet, investing in a Bitcoin ETF or "exchange bitcoin" does actually not make use of them.
IMO you're seeing the crypto world a bit black and white. Some of your forum contributions are interesting and valid but others are not.
(And if you want to direct the focus to altcoins: all cryptocurrencies face the same challenge between node decentralization and on-chain throughput. If there was any breakthrough there, Bitcoin could adopt it.)
They've been working on the scalability problem for 13 years now, which in the realm of high-tech might as well be a thousand years. It's not a problem that's going to get solved. The idea that every daily worldwide transaction that occurs in the whole world gets copied thousands of times to thousands of servers is simply not viable. And Lightning is both not a solution at high scale and it is also centralized. Same with the L2 solutions. They are no different than any standard bank or Paypal transaction. If you are going to use a centralized architecture, Haypenny is the way to do it since it's a paradigm that is centralized from the very beginning. "Centralized blockchain" is like alcohol-free vodka: it's a waste of time. Regardless, even centralized blockchain won't get you the scale necessary to be a real alternative to today's bank and physical cash transactions, and it's needlessly complicated for the end-user. And if Bitcoin isn't valuable purely an investment vehicle, that is... news to most retail Bitcoin investors who don't hold their own physical private key and probably don't even know what that is  . Millions of people clearly love the idea of an investment vehicle and don't care about the technical details. I don't think that's... pessimistic... Speaking of scalability, this same issue lead to a hard fork that created bch, even with segwit increasing the block size to 4mb we still have high gas fees on time of network congestion, so many Companies and developers has been working on this same issue, lighting network was introduced and its so complex to run a node that my dad wouldn't be able to understand shit, I don't think bitcoin would ever get passed the issue of scalability in the next 10 years, but we still have to be optimistic about it. So for now we have no choice than to use bitcoin as an investment asset that it is Currently playing a perfect role at beign. |
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Security is like the most important thing in hold, most holders end up losing their asset to phising Link, ponzi schemes and poor education, I think newbies that are interested in investing in bitcoin should take time to learn about it and find out the best way to observe safety, the kind of wallets to use like hardware wallet(trezor cause I plan on buyingone next month, or using closed source wallets, many newbies also make the mistake of leaving huge amount of bitcoin on trusted exchanges and fail to learn from past incidents like the hack on Mt gox and the bankruptcy of FTX exchange, this companies are major target for scammers and they don't guarantee any security to you holders if something happens, we should learn that security is our responsibility if we must keep our crypto safe. I myself try my best to secure my holdings although they are not very massive yet, I'm still on my accumulation stage.
What makes a wallet good is that it is "open source".. and I am not sure how much we should go into wallet security in this thread.... but you can compare hardware and software wallets. Another priority would be the idea of self-custodial rather third party custodial.. .. but at the same time we know about transaction fees too.. so we might want to make sure that our UTXOs are $500 to $1k (1 million to 2million satoshis) or more rather than having a bunch of small UTXOs. https://www.athena-alpha.com/crypto-wallets/https://www.athena-alpha.com/crypto-wallets/rating-methodology/ DO NOT POST SESC LINKS https://walletscrutiny.com/hardware/trezorT/Wallet security is not the topic of this thread but thanks for throwing light in that area, so many newbies like me who are still learning about our security, and self custody must be practiced but we also need to know how to do it best ourselves, it won't be a good experience to lose your bitcoin holdings because we failed to be knowledgeable in such areas, and many newbies continue to flood this thread daily to learn about investment, I guess they are motivated about the bull run, but I wished they had already stared buying in the bear market. They are other threads that teach about security and I think we should learn about security there. The links are really helpful 🙂. |
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Bro give me those bitcoin and I'll build myself and have even better grades, who would prefer grades over bitcoin, many graduates don't have any bitcoin, some are even aspiring to have , you just want to play on our greed I get you 🙃, even a child knows the right pick, we are on the bull run and we know what having bitcoin means to us, I think every bitcoin enthusiast would chose bitcoin over any other educational standards bro, and besides that shit is over rated, unemployment rate in some countries are just too high and cost of living even higher at this point bitcoin would solve more problems for us than good grades.
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Ohh, we'd consistently hear people lose their money from investing in Bitcoin but not realizing that they are not doing it right.
Yes, we can do nothing for these innocent people because it was not our responsibility to take care of their wallets and spoon-feed them. In fact, the moment they are investing in Bitcoin they are also aware of the risk situation and then help themselves to learn how to secure their funds but unfortunately, they just ignore it until the time has come.
Anyways, this mistake will not be over, not because people have also learned but because hackers are also improving their strategies. We need to be more cautious about our actions and make extra efforts to keep our wallets/funds safe.
No matter how scammers improve their strategy, they can't get access to anything unless we hand it over to them, if my seed phrase is well hidden and protected no hacker can get my bitcoin out of my wallet unless I tell them, anyone who gets scammed is their faults they brought it upon themselves. Your right most people get into bitcoin without learning about security and end up losing their holdings, I believe as we learn to invest, learning to secure your holdings should come next. Ignorance is no longer an excuse, everyone must prioritize learning if he doesn't want to be a victim in this times. |
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Rephrase bro, we are still on the bull run, diversifying into 5 different coins would make sence to me when I don't know any sure project to go all in, right now from past historical data bitcoin always does better in every bull run unless your expecting some 100x on your capital, if you want to diversify chose two, bitcoin and any other altcoin that you would like to gamble on, cause you can't trust any alt to give you guaranteed result except Ethereum and bnb.
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I'm not really an alt lover neither am I currently investing in any, but if there is any alt I won't recommend is solana, sol seems fishy to me, first they have some inner cause investors that manipulate the price making it look like a cefi instead of defi, sol has had many shutdown that I can't seem to understand what happened and they also have one of the most complicated blockchain ever if someone tries explaining what they are all about I might sleep off, I understand all there free transactions but the question is why do they give such offers if they have nothing in mind, although I don't have prove but this is my honest opinion on sol.
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If your asking for my opinion then you should do more research on the project, many projects have good concepts and are even functional but end up dead or as scam, do more research on the project, since it has been live for a while then I think other persons must have been there before you, so find testimonials or comments about them ghat may interest you. Basically you can only make a hood decision if you have good information on them, so look for that before any other thing.
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I've seen many people lose their holdings to phishing links and to scammers cause they are ill educated on how to hold safely, so as we learn how to accumulate bitcoin, let's let's learn safety too.
Hmm, that's true, mate. I've also seen some people lose all of their Bitcoin investments due to a lack of privacy. I believe that if someone wants to go for a bitcoin investment, first of all he needs to put more emphasis on it that how to secure his bitcoin, like where to buy it or where to store it. I mean, the first and most important thing a buddy should know before going to invest in Bitcoin is security, which includes being aware of scammer traps and fraudulent exchanges, as well as using a more secure wallet for storage. after that, there will be no difficulty in investing in Bitcoin. If someone doesn't know how to protect himself, be it from a hacker, from a thief exchange like FTX, then, in my opinion, a Bitcoin investment can cause a loss for him. So be aware of phishing links; don't click on any links that lack of authenticity. Security is like the most important thing in hold, most holders end up losing their asset to phising Link, ponzi schemes and poor education, I think newbies that are interested in investing in bitcoin should take time to learn about it and find out the best way to observe safety, the kind of wallets to use like hardware wallet( trezor cause I plan on buyingone next month, or using closed source wallets, many newbies also make the mistake of leaving huge amount of bitcoin on trusted exchanges and fail to learn from past incidents like the hack on Mt gox and the bankruptcy of FTX exchange, this companies are major target for scammers and they don't guarantee any security to you holders if something happens, we should learn that security is our responsibility if we must keep our crypto safe. I myself try my best to secure my holdings although they are not very massive yet, I'm still on my accumulation stage. |
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