they could be wrong, even with higher vote ✅.
some times, the less vote ✅ wins too.
I did not see forum has votes to display a post, an answer is correct or not correct. No up-vote, no down-vote like on Reddit. Merit does not mean that post is correct or not correct. People can merit a post even they disagree with that post. |
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Today in my locality many awareness is going on about cryptocurrency and I feel left behind as am currently tired of the whole fiat system and need to know other alternatives about using bitcoin as a means to financial freedom.
What is your community? What are activities they did and attracted you to join and how did you know about Bitcointalk forum? Left behind? I don't think you were left behind by your community. Knowledge is endless and your community members did not know all about that. If you learn daily, you can catch them soon and even pass through them someday. Focus on yourself and don't look at them as well as believe in all knowledge they shared in community events because maybe some of their knowledge is not correct. Don't trust them, learn by yourself. Bitcoin information and resourcesCryptocurrency security checklistMastering BitcoinThe little Bitcoin book. Some free community-created PDF translations. |
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I don't know where are sources of speech you want to get text / transcript? If you want it from Youtube videos, you can click on Show Transcript and Copy the text of transcript from the right side, then Paste it to use. How to get the transcript of a Youtube video. You can use extensions too but I don't choose extensions if I can get it directly with Youtube. Transcribe Audio to text with Veed.io. |
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the best solution to this is dollar cost averaging.
Let's DCA with https://dcabtc.com/I also get too attached to a crypto platform called Celsius and they went bankrupt on me.
If you got attached to Celcius, one more piece of advice you can share is risk of high APY. Projects that promise to give high APY especially too high APY than average APY of the industry is high risky. They will run something like Ponzi with abnormal high APY to attract investors. If you join early, you are fine and can enjoy good yield but a later you join, more risk you will get and afford to lose your money. CZ’s FAQ 8 - On LUNA/UST and Taking the Right RisksThe other fundamental flaw was the over-aggressive incentives. Specifically, Anchor’s 20% fixed APY to push for (in-organic) growth. Let’s strip away all the fluffy stuff and look at fundamentals. You can use incentives to attract users to your ecosystem. But eventually, you need to generate “income” to sustain it, i.e., more revenue than the expenses. Otherwise, you will run out of money and crash.
High APYs Don’t Necessarily Mean Healthy Projects
It’s now obvious that the whole thing was built on a self-perpetuating, shallow concept. While Terra did have an ecosystem with some use cases, the speed of growth of the ecosystem did not match the speed of the incentives used to attract new users. The growth was “hollow”. Eventually, the bubble burst, and here we are.
Key lesson: don’t just chase high APY. Look at fundamentals.
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- What does it mean it actually mean to DO YOUR OWN RESEARCH?
The phrase implies that it is your responsibility to do your research and use result from your research for any purpose. Generally explaining, don't trust projects, don't trust other people, trust yourself. DYOR - Alexandria Coinmarketcap Glossary- What are the steps to start to take? Technical analysis? Fundamental analysis? Sentimental analysis?
You discussed about trading and it is not wrong but DYOR means more about researches to find information about a project, assess its legitimacy and quality. From that you can get your own view on potential of that project and make your decision to join (invest or trade). Technical, fundamental, sentimental analytics are parts of DYOR you can do. - How did you or do you DO YOUR OWN RESEARCH ?
I do it on their website first with tokenomics. If I find that tokenomics is desgined poorly and has potential of rug pull, I stop. Next step I would like to do is searching about their team members. Their achievements before they joined crypto and their achievements related with cryptocurrency. Their whitepaper, lightpaper, roadmap are what I do later because those documents are full of promises. |
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For some time now I have been making a plan that I will trade on the crypto platform .
One of biggest mistakes people commonly make is think that they can get rich quickly and easily by trading. They heard, read, watched somewhere about rich stories and think that those stories are real and rosy so that they want to make their debuts like that. Trading is risky and not easily so most of newbies will lose money, not get rich with trading. But I am not able to trade because I don't have enough knowledge about trading. I have no idea how much money is needed to trade or what coins I can currently profit from trading.
How long have you ever participated in cryptocurrency market? If your time here is not too long, a few years, you should not think of trading. Your way is to start with investment in Bitcoin. Spend a few years to see your portfolio growth with Bitcoin and experience how bull and bear market comes and completes then how news, fuds impact this market. If you have profit from investment in Bitcoin, a few years later, you can use small part of it for trading. Don't use all fund for trading because even you have a few years in this market and succeed with investment, you are still vulnerable to lose by trading. |
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Bitcoin is a digital gold but it is not Bitcoin Gold. If you are the producer printed those bags, you can order the printer to print it is "Bitcoin is a digital gold" The current label Bitcoin Gold is a free advertisement for Bitcoin Gold, not for Bitcoin. If you print Bitcoin Diamond, you are shilling for Bitcoin Diamond, not for Bitcoin. How Many Bitcoin Forks Are There? |
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Fud is a new termionlogy I learned from cryptocurreclncy market.
I did not know what is fud before I was in crypto market.
Honestly fud is terrible for beginners but they must be familiarized with fud.
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Weird and the timing though, this is the second time that I have seen another quantum computer thread, this is the first one, Breaking RSA Encryption with Quantum Computer. Is this the new FUD attack since the price of bitcoin is going up to the $21k'ish? And there are a lot of threads as well in the past that discussed about this so called QC and what's it's effect on bitcoin and any other technology that relies on ECDSA encryption. I found many topics about Quantum computers and a first topic was created in 2012. Quantum computer and Bitcoin. A most informative topic about that is I don't believe Quantum Computing will ever threaten Bitcoin. OP can read it before discussing more. I am no longer fearful about Quantum computers and their risk to Bitcoin cryptography after reading it. |
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I think newbies in crypto can start with a biggest crypto, Bitcoin.
Start with test net coins
Start with testnet of altcoins
Practice to create, recover wallets with testnet networks
Practice to make transactions on testnets. Claim testnet coins from Bitcoin, altcoin faucets and use them for transaction practice.
On mainnet, mistakes are expensive and you lost real money on main net.
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Unbelievable. yogg scammed to get 0.5 Bitcoin. Were yogg hacked by someone or yogg is really scammer? |
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• The hashrate and mining difficulty are what contributes to the security of the network.
Total hashrate and mining difficulty are not only contributors for security of Bitcoin network that is also supported by number of full nodes. https://bitnodes.io/https://bitnodes.io/#google_vignetteActive full nodes can verify blocks and detect any suspicious things. They can contribute to ability of Bitcoin community to react against 51% attacks, chain splits. |
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Mulit asset mode is safer. If you use a single asset mode, it that asset dumps, you will be liquidated.
If you use multi asset mode, if one of assets dumps but others don't dump, you won't be liquidated.
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We have learn to stay focus and not to trust anyone or any exchange because any one can be hacked as well as exchanges too.
Exchanges will give their customers the hope of begin reliable in terms of security, but once any case of security bridge or security compromise happen, they will not be there,Therefore, trust no interms of Bitcoin investment.
Exchanges can be hacked and funds can be stolen but it is not different problem. Coolcoinz shared that Coinbase lied their customers about technical traits of their wallets. Their wallets are not open source so they lied to call their wallets are safest. |
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