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4901  Bitcoin / Bitcoin Discussion / Re: Investing in Bitcoin in Student Life on: June 20, 2023, 06:06:29 AM
I don't really get if it favoured you but let's say it did and you smile to the bank do your thing, your happy right?
Let's look at it on the down side of it and it didn't fall in your favor, with the way Bitcoin is going up and rapidly coming down, don't you think it would aftect you emotionally or even affect you in your academics? Can you concentrate in school? How would you cope knowing quite alright that you have lost or not getting a bigger profit.

To me investing as a student is like a distraction because you might or should I say you'll lose focus, having a distraction in class is just not ok with me, is like serving two masters at a time. In as much as money is involved we just need to be careful in making decisions in life without being selfish.
If you can work during your student years without compromising your studies, then I only support such an initiative. If during your studies you can save some funds and invest them in order to increase them, then this will be a very good bonus for you, since young people rarely think about this at such a young age. They believe that you need to live for pleasure while you are young, and we will think about money when we grow up, but this is not a very good attitude, because after receiving a higher education, you will have to study at the school of life, learn to earn money, invest, this will still have to will learn.
Dont forget, all investments bear risk, and Bitcoin is no exception. Yet, this very instability is a hotbed for grand returns. Smart and disciplined crypto investment can result in substantial rewards. On juggling academics with investing, Bitcoin investment isnt necessarily all-consuming. There's no rule that pitting investment against academia. They can cohabit.

Responsible investment can be a priceless lesson for students, offering insights into real-world finances and global economics' complexities. This isn't about splitting loyalties, but honing multitasking skills and learning responsibility management. Bitcoin opens up avenues to decode economic mysteries.
4902  Bitcoin / Bitcoin Discussion / Re: Smart Way to Introduce Bitcoin to Relatives, Spouse or Family on: June 20, 2023, 05:48:48 AM
-The first step keyword is the “Difference between Money and Currency”. So we tell about this.
-The second step keyword is “Issue or problem of our Fiat currency”. So, we can give an open question regarding the problem of our fiat currency.
-The third step keyword is “Change in Global reserve currency”.
-The fourth step keyword is “Bitcoin versus currency”.
-The fifth step keyword is “why not gold?”.


That's all. No need for weird jargon like talking about; Ledger, hardware wallet, blockchain, and so on. The point is that those who don't understand Bitcoin get the essence first, get the why first. After the why clicks with them, it's easier to guide them to the next step, which is “Buying Bitcoin".

Note : Remember, if you want to change people's minds, don't use too much technical jargon. Don't use too much data. We want them to understand, not to make us look smart.

I deliberately made a post on the bitcoin discussion to receive suggestions and input, maybe there is something I need to add regarding the topic that I created. And hopefully if there is an error please give feedback.
i found your steps not that good enough (no disrespect) but you said we should not become technical jargon but crypto/BTC is technology so you have to step your foot into the river of technicality. Lets take an example, i am a newbie i know nothing about crypto back in 2018, and all i thought is BTC is some source of free earning, like all we have to do is click after every 24 hours on online mining platforms and money is being generated, well, after getting slapped on the face i left crypto, and in 2020 one of my friend help me to understand crypto/btc how?.

Well, first, i am not a traditional person and never involved into banking sector, so i did not aware of the traditional market or finance problems, i did not even aware of the global reserve cycle problem, so, what i learn is, how BTC is developed, Why it exist, Who is running the blockchain, What value it has in its decentralization and why we should value it too? How BTC is gaining value while it is just a programming or a block of code? How transactions are being made?

These types of question i learnt first, at that time there were no AI tools like gpt but today anyone could quickly learn these things in no time.

The point is, teaching your family and teaching anyone, requires different approaches, we cannot jut use the same strategy to teach them because they already knew what money and currency is but they are eager to learn how Blockchain is important with BTC and why BTC is gaining value, How can we get benefit from it? and instead we are teaching them the inflation, and global crisis and financial cycles and etc. Never compare Gold with BTC in front of traditional people because they will give up on BTC at start, Why? because they have spent more than you talking and listening about gold then BTC.

Yes, we must simplify the Bitcoin narrative to appeal to a broader audience, but we cannot strip it down to the point where it loses its essence. Bitcoin is a technological solution to a socio-economic problem, and to fully appreciate its value, one must understand some of its underlying technology.

Bitcoin was born out of the need for a decentralized, peer-to-peer form of digital cash that was resistant to censorship and tampering. If we aren't talking about the decentralization or the ledger, we aren't talking about Bitcoin.

Also, Bitcoin versus gold is an inevitable comparison that comes up when discussing stores of value. Avoiding it altogether doesn't do justice to Bitcoin's unique advantages. For instance, while gold is physically finite, Bitcoin is digitally finite and has advantages such as easy transferability, divisibility, and immunity to physical damage.
4903  Bitcoin / Bitcoin Discussion / Re: Is there a glyph for a Satoshi on: June 20, 2023, 05:29:00 AM
It's commendable that you're integrating Bitcoin and Satoshi into your platform – a testament to the growing influence of crypto. Using "SAT" as a placeholder does make sense, however, it might not resonate universally, so your concerns are justified.

About satsymbol.com's proposal, it's indeed aesthetically pleasing and culturally significant. Yet, consensus, especially in a decentralized environment like crypto, is often elusive. That being said, I remain optimistic. We, as part of the crypto community, can voice our preferences and expedite the process. I encourage you to continue your efforts to support Bitcoin and other cryptocurrencies. You are one of the bravest
4904  Economy / Exchanges / Re: Explain this to Me Like am a Five Year Old on: June 20, 2023, 04:57:07 AM
SEC saw nothing on CZ, some people believe that CZ is corrupt but that's not the case, with they way this is going, SEC wants something from crypto, some kind of settlement and agreement, it's always about the money, they don't enjoy watching people like Brain and Zhao getting all the crypto goodies, it's pure jealous and envy, where are these people when crypto was nothing?  Grin Grin Grin

All I can say is, if SEC really want to put an end to crypto, Bitcoin should be the main target, why didn't they go after Bitcoin? This is very laughable, Bitcoin seem unstoppable for them I guess, because there is no one to sue, hahaha, I am not worried, not at all, because this whole war will make Bitcoin even more bullish, lets wait and see what happens next.

I agree with what you are thinking about SEC, they just want money, and their greed is getting bigger and bigger when they see the potential of this crypto market. And you are right, the SEC is targeting bitcoin, but since they have no direct way to stop it and are hitting what they think will affect the growth of bitcoin. But they were completely wrong because even if Binance or Coinbase fails, bitcoin will still stand and grow in a different way. They will have no way to completely stop bitcoin.
The SEC' latest activities have stirred the crypto community. While many claim this is about envy or muscling in, I propose a different viewpoint.

Regulators like the SEC aim for fair, efficient markets. Their probes into leaders like CZ and Brain may seem intrusive, but they might be striving for crypto to match the stringent standards of conventional finance. Regarding Bitcoin being the SEC's prime target, remember Bitcoin's decentralization and lack of clear leadership complicate regulation. While Im all in for crypto' lucrative prospects, I urge prudence
4905  Bitcoin / Bitcoin Discussion / Re: We shall separate commercial exchanges from investment exchanges on: June 20, 2023, 04:38:56 AM
If you really want to see how stringent the regulations got, see what was passed after the housing market crash in 2008. You would be surprised at how much banks are able to get away with knowing they have federal regulators that will jump in if they need liquidity. As of March of 2020, U.S. banks literally can loan/invest 100% of depositor funds through the fractional reserve banking system -- they don't need to keep a single cent of client funds on hand. Doesn't sound like they're highly regulated with that type of freedom.

Be specific, what exact regulations are you suggesting? Establishment of an FDIC type insurance program?

something that will break your mind
banks dont lend out depositors money.. .. are you shocked??

they CREATE money when they set up mortgages. yep thats right new money.
they were limited to only create new value to a ~% of inflation against total value on deposit.

thats where i think you got confused about the fractional reserve part. they dont borrow deposits. they create a X% of new value compared to deposits when they create mortgage loans
..

the other different "fractional reserve system" was something else. it was where when people deposit bank notes to get bank account balance..  those bank notes were to be burned when creating electronic account balance.
but banks then had to have small <10% (of the electronic bank balance) to hand in the form of new bank notes to honour account withdrawals. which is where the banks then bought (at face value) crisp new bank notes. which meant the US Mint(treasury) got money for the fractional reserve
however due to most people now using visa/mastercard for payments instead of cash via ATMS the % of fractional reserve has decreased to nearly nothing

the treasury(us mint) didnt like getting less and less income and are now making a CBDC to replace the need for banks and visa/mastercard where the treasury again takes more control of citizens accounts and takes any fee's or investment plans they can create from CBDC

and now you should be fully uptodate of how the system has and does and will work
Indeed, banks' ability to create money via loans, not simply lending depositors' funds, resonates with me. Yet, remember, this sits within a governed system, vulnerable to issues like inflation if mishandled. The fractional reserve system, while partly correct in your depiction, lacks depth. True, banks hold a modest portion of total deposits as reserves, but it's more intricate than you suggest.

Regarding CBDCs, their ascent is noteworthy but not a game changer. They won't oust banks or decentralize currencies like Bitcoin. Cryptocurrencies offer an escape route from conventional finance, giving a financial autonomy that inherently centralized CBDCs may not rival.
4906  Bitcoin / Bitcoin Discussion / Re: Bitcoin's Volatility Problem on: June 20, 2023, 04:16:20 AM
Bitcoin's volatility can present hurdles for users and investors. However, it's essential to recognize that such volatility also propels opportunities for significant returns. This volatility has catapulted early investors into unprecedented wealth.

Regulatory challenges, in my view, signify evolution more than a disadvantage. Decentralization, the heart of Bitcoin's value, provides an innovative transaction mode sans central authority. It potentially grants more liberty and flexibility, albeit necessitating increased user responsibility.

Moreover, regulation isn't always a safety synonym. We've witnessed numerous regulated markets tumble into scandals and crashes. Bitcoin's self-regulation via network consensus offers a distinct, grassroots mechanism for maintaining order and value.
4907  Bitcoin / Bitcoin Discussion / Re: Bitcoin gift to wife on wedding. on: June 20, 2023, 03:54:19 AM
She will definitely gonna appreciate it as a gift, if only the next day Bitcoin price grows Smiley But if she will see a price reduction during a good period of time, she might really get disappointed. OP, also think how you will look in father-in-law and mother-in-law eyes, and other guests. If you gonna give your present on public, are you sure everyone gonna understand your gift? If you do it privately, she will tell her parents about that gift anyway. If they are not tech guys, and she is not a tactical person, you will end with a guy who gave a virtual gift... I would better think of a more romantic gift, but later just give half of private key to her.
Honestly, I don't think mentioning bitcoin in this case makes sense. The wedding day is the most important in every woman's life, so do whatever makes them as happy as possible. If the bride doesn't know anything about bitcoin, it would be ridiculous to give it to her, I really don't like the idea.

Moreover, he said that bitcoin is not legal in his country, and giving bitcoin on his wedding day is no different than declaring to everyone that he is investing in bitcoin. This may cause his small family more trouble than make his wife happy.
It's not everyone' cup of tea, especially if Bitcoin exists in a legal fog in your land. But, dont ignore the high growth potential of this unorthodox gift. If the bride and her clan are progressive, they might appreciate this future-ready move.

Consider this, Bitcoin, despite its wild price swings, has charted an ascendant path in the long run. If the bride can hodl, the gift might balloon in value. It's a risk, but isn't investing always a gamble?

However, I concede that this demands tactful handling to sidestep legal or societal consequences. Educating the bride and her family about Bitcoin before presenting it seems sensible. It could spark intriguing chats about decentralized finance and money' future at the reception!
4908  Economy / Gambling discussion / Re: Success or Fail? - Talking about Gambling as a major income on: June 19, 2023, 09:12:01 AM
*sighs* here we go again with people trying to justify gambling as a source of income when they can easily just fill up an application form and get themselves a regular 9-5 that doesn't put their entire savings and their family's future in the line.

First off, are you good at gambling? Do you win more than lose? Do you think you have what it takes to take on the pro scene and be pitted against people who have probably cracked the secrets to the game way before you did? Second, Are you really willing to put your stuff on the line for some strategy you saw on the internet, even worse someone you heard from? I'm not that belligerent and gullible but I sure as hell know people will fall for this kind of crap. I mean there are people who used gambling consultation services lmao.

Gambling is not a form of profit-taking venture. It is an entertainment method that you do when you want to wind out and experience the joy of spending money you don't mind losing. If you think of gambling otherwise, and you're not any of those two I mentioned above then you might wanna ask yourself if you're still sane or something.

People will learn quick that relying on this industry for their income as they will put their family in trouble.
Do remember, most gamblers are having financial problems, hence, the negative stigma when someone is into gambling.
The likelihood of failure is high when you put yourself into this habit. Very few persons can get out alive whether short-term or long-term basis.
So to make sure you are putting something on your table, better look for a stable job and not think that gambling will ever sustain your lifestyle.
A lot of people are getting trap to the idea of hitting big one day, but we all know, most of the time, such luck won't ever come.
And your family can't wait for such luck as you need to put something in your tummy to survive. Don't exchange it to the concept of hitting the jackpot.
Gambling, conventionally, has a reputation for precipitating financial ruin. Still, its key to comprehend that it also offers potential rewards. Like all financial pursuits, it necessitates apt risk management, unwavering discipline, and a firm grip on probabilities. I align with the view that haphazard gambling for constant income is unwise and often disastrous. Yet, gambling with a calculated strategy, practical hopes, and stringent self-limits can serve as legitimate leisure and, rarely, a gainful venture. Moderation and financial acumen are crucial. With the means and insight to gauge the odds, betting can be an electrifying, occasionally rewarding diversion. However, it should never be the sole income channel or a financial problem solver.
4909  Economy / Gambling / Re: Punt.com on: June 19, 2023, 08:48:03 AM
It's really very stressful to play gambling that depend on luck but there's nothing you can do to change that result, in a few days it's possible that people get luckier and manage to hit a big multiplier, but even when the person when this person hits a large multiplier, when looking at the statistic, you will see that he had many losses and few victories, but as this person was lucky enough to hit a large multiplier, then this person is in profit, for example if in your case with these statistics you had hit a big multiplier

you wouldn't be irritated with these statistics, you would be celebrating at that moment, so if you keep playing solts that are things that depend on luck, you shouldn't be complaining with these numbers and you shouldn't look at the game as a source of income or profit, because you can already see that the chances of hitting a big multiplier are very small, out of 370 games you only had 38 hits, so it's a very small number of hits and a big sign for you not to see the game as something profitable because it's not profitable, if you had continued to play you would not have changed this losing trend
It appears theres a bit of a misunderstanding about the concept of "provably fair." The phrase doesn't necessarily imply you're guaranteed a win, it refers to the transparency of the gambling process. Each roll, deal, or spin you're making is demonstrably random and not manipulated by the house.

Certainly, the odds in most casino games favor the house - its called the house edge. This is how casinos make money. It's not a secret or an evil scheme; it's the business model. For players, the fun comes from the chance, however small, of beating the odds.

Please note that gambling should be viewed primarily as a form of entertainment, not a reliable source of income. Winning is a bonus, and losing is the norm. Always play responsibly, betting only what you can afford to lose. Gambling, when viewed this way, can be an enjoyable activity without leading to the frustration you've expressed.
4910  Economy / Gambling discussion / Re: Gender in Gambling [differences between Women and Men in Gambling] on: June 19, 2023, 08:25:08 AM
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Most of the traditional gambling in my place are also a women gambler, but its hard to tell that they are growing in numbers since many are also playing secretly. Maybe men are more open to share their gambling activities as they are more exposed to different kind of gambling and on casinos. There are difference between men and women as a gambler and for me, women are more emotional when it comes to gambling while men are too serious on trying to make money in gambling.
Indeed, our societal norms and historical precedents have shaped the landscape of gambling, distinguishing the games that men and women gravitate towards. The emergent trend of female gamblers aligns with our societal transition towards equality. However, the clandestine nature of women's involvement, as you highlighted, is a matter of great concern. It potentially masks the magnitude of gambling addiction issues among women.

Gambling, when engaged in responsibly, can be an enjoyable pastime. It offers excitement and a break from the monotony of routine life. However, it's of paramount importance that individuals understand the risk factors associated with gambling and exercise caution. By maintaining self-discipline and a balanced approach, one can enjoy gambling without it becoming a detrimental factor in their lives.
4911  Economy / Gambling / Re: Using ToS against users normal? on: June 19, 2023, 08:02:03 AM
Many gamblers are not reading the rules and just acknowledge it to create an account. It's quite normal for many of us to directly play and not taking time to read what's written on their ToS thinking that casinos are often have similar ToS. This is the player's fault if he/she is not aware of the rules for being lazy.
In that case, if you break one of the rules out of ignorance and the casino bans your account or confiscate your money then there is no one to blame but yourself.
The good thing about casinos is that they have pretty much the same terms except minor differences. So when reading the ToS you have to focus only on what concerns you and what you believe might be different from the casino's you are familiar with.
Overlooking a casino's rules, deliberately or accidentally, can invite unwanted outcomes. Many casinos do share similar service terms, but we should stay alert to subtle differences. Prioritizing the review of clauses affecting our gaming or transactions is wise. Let's remember, gambling is about balancing risk and reward. Knowing the game's rules and playing sensibly can enhance enjoyment while reducing risks.
4912  Economy / Gambling / Re: Without money, does it still qualify as gambling? on: June 19, 2023, 07:44:24 AM
If you can win money even without putting money at first then I think yes it can qualify as gambling
Depends on the game too
Poker as an example can be played to make money and won’t be qualified as gambling but as a skill game

On the other hand I wouldn’t be so sure to define something as gambling if you can’t lose money

Without money been at stake it doesn't qualify as gambling because we have so many activities that people can participate in and they're organized by companies for the purpose of promoting their brand. In such activities, you can win cash prizes and you weren't gambling

Some companies organized a lottery system for their customers and they can win by buying more goods from their shopes or making use of the service that he companies are offering. Then they can randomly select winners by using some criteria and gifting them prizes.

I support your thoughts of it been gambling when you can lose money which means there has to be money stakes by one or two persons for you to be able to lose it. Anything that has money stakes can be classified as gambling, you might be playing with another person or computer.
It is compelling to note your clarification regarding the distinction between promotional activities and gambling. However, it seems essential to emphasize that the underlying risk and chance factor in such activities make them somewhat analogous to gambling. Indeed, corporate lotteries and similar promotions might not require a direct financial stake from participants. Still, their transaction with the company – purchasing more goods or using services – essentially becomes an indirect form of staking. Hence, the 'risk' element is preserved, albeit in a camouflaged manner.

Nonetheless, your perspective on the requirement of monetary stakes for an activity to be classified as gambling has merit, and aligns with traditional gambling definitions. The prospect of potential loss undoubtedly amplifies the thrill and uncertainty associated with gambling. Be it against a human or computer, the exciting yet precarious nature of this activity calls for responsible participation.
4913  Economy / Gambling discussion / Re: Advice when you are going a bit far in gaming and betting on: June 19, 2023, 07:21:44 AM
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Exactly, good self-control is what we need to go back and focus and not being bothered much by that certain emotions, it can lead us to make more mistakes and push our aggressions if we continue following such adrenaline, better to have that kind of gesture to let remind yourself in what to do in pausing for a while and be back when you are settle and ready to start it again.

Gambling is more about following your emotions. The more you can limit yourself, the better chance that you won't commit mistakes.
I agree with the statements made by both of you, and would like to emphasize that self-control is indeed the crux of the matter when it comes to any activity, particularly one like gambling. It's a game of patience and strategy, where your emotions can easily be your downfall if you fail to manage them effectively.

As you've pointed out, the urge to chase after losses or adrenaline highs can often mirror addictive behaviours such as smoking. Just as you may find yourself consuming more cigarettes under emotional stress, so too might you feel compelled to place higher bets or make riskier moves when you're engrossed in the 'atmosphere' of the game.

Its essential, therefore, to have the discipline to hit pause, regroup, and reevaluate your strategy when you notice these patterns. Indeed, our minds are the key players here, capable of both leading us astray and pulling us back to safer grounds. Gambling, in my opinion, is a test of not just luck, but also of one's ability to manage their impulses and stay within their pre-established limits.
4914  Economy / Gambling / Re: No bet is a waste on: June 19, 2023, 06:58:49 AM
I agree that no betting is wasted, but during wrong bets our real money is wasted and that's not a good thing for us. I have wasted some money on few gambling games in order to learn that how the game works and what are the mechanics of the game. But, so far I found that most of the gambling games generate random numbers and that's why guessing them and making a proper strategy isn't possible on those casino games. Although, one can master sports betting with time, but still it's always somehow test of our luck vs others luck, and if the ones who bet against us are more lucky then they will always win.

You can say that no bet is a waste in the sense that even if we lose the bet, the casino is the beneficiary of that bet. In this way, we can say that all the bets give benefit in one way or another. Either you will win money from the bet or the casino & bookmaker will make money out of it. This is one way of looking into it but we generally speak from the gambler's point of view.

In this case, if you lose a bet, you lose the money and that's the dark side of gambling. Losing is a part of gambling and I hope all gamblers understand this quickly once they start to gamble. High hopes from gambling may lead to difficulties and hopelessness in the future.

If we view it in that sense then it's true, the bets we lose are a win for the casino, but still in other sense the gamblers are up their for money which they are losing to a casino. I agree that losing is really a part of gambling and if someone is into gambling then he/she should keep that in mind, but sometimes we lose a lot more than expected and that's a worst thing I guess.

Most of the gamblers who aren't addicts are trying to make some money in gambling, and losing of most of the bets could cause fear in their minds. They will either give up on gambling and consider themselves unlucky, or may develop a perception in their minds that most of the casinos have intentionally made a mechanism so they could grab more money from the pockets of the gamblers. In either way they might be right or wrong, but they will never go gambling again due to the fear.
Surely, a lost bet favors the house. However, that's superficial. Gambling tests more than just financial risk - its about patience, strategy, and restraint. Each loss imparts wisdom. Fail to learn, you're on the wrong track. It's less about luck, more about wising up. Yet, if dread overshadows the thrill of playing, the fear eclipses the game. The point is, gamblers should play sensibly, respect their boundaries, and step back on off-days. Remember, the essence of gambling lies in enjoyment, not in a shortcut to wealth.
4915  Bitcoin / Bitcoin Discussion / Re: Smart Way to Introduce Bitcoin to Relatives, Spouse or Family on: June 19, 2023, 06:40:08 AM

No matter what strategies you try to use to convince people, those who will be interested will surely be interested, and those who will not develop interest will never be. I seriously like people to benefit from anything or anywhere I am benefiting, but no matter how hard you may try to help some people, they will never give you help themselves. I have tried many times to introduce some of my relatives to Bitcoin, but not all of them have listened, despite the different strategies I used.
 
So I just discovered that no matter how hard someone tries to carry some people to the right way, they will never come. Op You have really tried with the guides lines, and it may be helpful to some people, but I don't think it is necessary to convince people by all means to learn about Bitcoin. I believe when they think it is the right direction for them, they will surely find means to learn about it. 
Your stance, though valid, overlooks the societal repercussions of surging Bitcoin adoption. Its not about swaying people, but fostering comprehension of Bitcoin' monstrous potentials and other cryptos.

Crypto-savviness is crucial today. Better Bitcoin literacy could curb income disparity, democratize financial services, and bolster economic stability. We, the pioneers, must shoulder the task of educating our peers, even the indifferent ones. Surely, folks will naturally drift towards Bitcoin. Yet, we must enable their readiness with unbiased, thorough, and palatable crypto knowledge.
4916  Bitcoin / Bitcoin Discussion / Re: Are you tired of waiting for the jump? Pls Hodl on: June 19, 2023, 06:22:45 AM
During the early stages of Bitcoin's existence, it was quite understandable that many people couldn't fully believe in Bitcoin. Apart from not being widely known, Bitcoin, when it was still a baby, always raised questions for everyone. Those who owned Bitcoin wondered, "How could such an asset possibly become so valuable?" It was only natural for many people not to take it too seriously.

Until now, those who didn't have high expectations for Bitcoin in the past but held onto their Bitcoin are fortunate. On the other hand, those who were overly calculating and afraid of potential losses, which were actually not significant, ended up with nothing today. Luck favored the right people—those who didn't let emotions and worries get in the way.
Back then, Bitcoin was a mere experiment, a pet project for many that left them asking, "Could this digital asset genuinely have any value?" Its a classic case of underestimating disruptive technologies in their early phases.

The fortunate ones who held onto their Bitcoin despite the initial uncertainties have indeed seen substantial returns. They exemplify the principle of 'HODLing', a term coined in the Bitcoin community referring to 'Holding On for Dear Life' during volatile market conditions.

Unfortunately, those driven by fear and short-term thinking missed out on this unprecedented wealth creation. It's an important lesson for us all in the world of investing: sometimes, the biggest risk is not taking any risk at all. Especially when it comes to paradigm-shifting innovations like Bitcoin and cryptocurrencies.
4917  Bitcoin / Bitcoin Discussion / Re: A no-Bitcoin friend turned a old Bitcoiner on: June 19, 2023, 06:01:31 AM
Your pal' behavior seems peculiar, though not surprising. Bitcoin, like any financial venture, is deeply personal. Even on a decentralized stage, privacy remains key for many. He might have had numerous reasons to keep his Bitcoin endeavors under wraps.

He couldve wished to steer clear of any potential fiscal debates or fallout from you knowing his involvement. He might have preferred you not to witness his Bitcoin journey' hits and misses. Keep in mind, finances stir different reactions in people, potentially altering friendship dynamics.

Still, I urge not to speculate. Talk to your friend, express your concerns. After all, Bitcoin is mere tech. Dont let it strain your friendship.
4918  Bitcoin / Bitcoin Discussion / Re: Is This the End of Crypto? This U.S. Congressman Hopes So... on: June 19, 2023, 05:22:01 AM
In a recent CNBC interview, U.S. Congressman Brad Sherman openly expressed his hope for the end of cryptocurrencies, a stance that will ruffle the feathers of crypto enthusiasts.  "I hope so, don't think so," was Sherman's succinct response when asked if the ongoing crackdown signaled the end of cryptocurrencies in America. His caustic comment follows recent regulatory actions taken by the SEC against major cryptocurrency exchanges, Binance and Coinbase.
And this will continue to be appointed as FUD which affects the market. Because in reality, many people or parties really hate cryptocurrencies and will do various things to bring them down. Currently, various regulations have been created to control crypto business activities and will try to bring them down if they go against them. SEC conditions in the US are not new anymore. continue to find fault with various parties or platforms that exist in the US. Yes, and this is very influential because people's sentiment towards news like this is very high. For us, this might be normal and even give us an advantage to make a purchase. However, there are some parties who really panic or continue to push the crypto market to get worse.
However, I'm really not sure if this is the end of crypto. Because crypto is widespread, not only in the US.
Your perspective isn't entirely unfounded. But remember, all revolutionary techs face hurdles. True, the SEC and alike are strict on crypto scrutiny. But, it's not just about stunting crypto growth, it's also about safeguarding investor interests and market equilibrium.

Cryptos, led by Bitcoin, are already intertwined in our financial systems. Their global footprint and decentralization make them tough to 'dismantle'. I agree, this isn't crypto's demise. It's a purifying phase leading to stronger market norms.
4919  Bitcoin / Bitcoin Discussion / Re: Without money, the knowledge is a waste on: June 19, 2023, 05:06:57 AM
There are some knowledge's that drives money, knowing something that someone else don't put you ahead of them, and for you to render your help or service, you need to come into some agreement with the person or company and money follows...

I remember a very brilliant kid who got a job secured with Elon Musk, just as easy as that, he is the youngest among the whole staffs that works under Elon Musk, this is why I said that some knowledge drives money, the greater what you know is the higher the demand of your service, by those who needed them.

So you are not completely right and you are not completely wrong either.
Your statement, indeed, is layered with aspects of truth, yet I find certain discrepancies in its entirety. It is irrefutable that knowledge has the potential to generate wealth. However, to insinuate that it is the only significant factor is a stark oversimplification. A myriad of variables like dedication, perseverance, and, yes, opportunities play pivotal roles as well.

Referring to the prodigy working with Elon Musk, his journey isn't solely due to his intellect but also the opportunities he was afforded. Its a result of the synergy between aptitude, aspiation, and luck.

Your theory of knowledge driving money overlooks the financial paradigm shift offered by cryptocurrency. With Bitcoin and other cryptocurrencies, wealth can be created, stored, and transferred without the traditional prerequisites. The revolutionary nature of blockchain technology and cryptocurrencies is decoupling the traditional correlation between knowledge and wealth. This doesn’t negate the importance of knowledge; instead, it reshapes its role in weath generation.
4920  Bitcoin / Bitcoin Discussion / Re: Crypto Lender Abra Has Been Insolvent for Months on: June 19, 2023, 04:41:41 AM
I have heard this name for the first time in my life despite being in this community (active). So maybe not a big deal but it is because it's crypto, isn't it?
Everything in Crypto is BIG. So a lender called Abra getting insolvent in a bear market, where the biggest of the biggest fall is a big news.
Nah  it was a pretty big cryptocurrency exchange/wallet service back in the day, I’ve even seen money remittance centers in my country offering swap to cryptocurrency through the Abra platform, so they hold a lot of relevance. This insolvency however has been predicted way back in the past though, since every other platform remained standing strong whilst Abra barely scrapes by as more and more people switch over to much more popular platforms. Still sucks cause it’s pretty much a good part of the crypto history but at the same time I blame the creators of this platform for their lack of anything to offer besides exchanging and safekeeping, with the latter even becoming out of the question cause this is a centralized exchange we’re talking about and they particularly suck at making sure their user’s coins are safe.
Given the bear market, Abra's circumstances aren't shocking. Its crucial to note that crypto is a swift-moving sector, necessitating platforms to innovate and adjust. Abra' focus on transactions and safekeeping appears outdated. Their handling of security - a major issue with centralized exchanges - had room for improvement. Their decline is unfortunate but instructive for others.

Lets not lose focus on the wider panorama. Bitcoin and crypto have reshaped financial interactions, promising enormous potential. This occurrence, though important, is a small setback on a larger journey.
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