I think the only similarity between shitcoin and ponzi scheme is that most shitcoins are pump & dump. So those who buy it at the latest (before the bubble bursts) lose the most. Those who buy shitcoin as soon as possible and leave it on time gain the most - the same goes for the ponzi scheme. However, technically they have nothing to do with each other.
...But they are however similar because the only reason the people that generate them do so is because their intention is to rip people that invest in them off even when they know they are not offering any meaningful thing behind them and I agree as you said, mostly the first set of investors are usually the gainers. |
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Indeed, if BTC become the mainstream currency of the world all the other assets' values shall be denominated in BTC value. But Bitcoin could end up only becoming the main store-of-value asset and we'd use a more stable currency for day-to-day payments.
Look, I am all for Bitcoin and the general cryptocurrency adoption but how do you think that, something with only 21mill total supply will be the world's mainstream currency? Even if many countries eventually adopt Bitcoin as a legal tender which I believe can happen, it will not replace fiat currency but will be accepted as such for payments and true value will be determined then because it should be more stable as a mainstream currency. |
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In a third-world African country, Nigeria operated by Female CEO. Hello, friends am from Nigeria a country where government regulation on cryptocurrency is flexible according to the law, the CBN which is the apex central bank warns against the risk involved in it and advise Nigeria to be careful, but Nigeria is one of the highest in terms of cryptocurrency adoption according to statistics. With the decentralized nature of Bitcoin that have Thousands of Nigeria Citizens who have knowledge of blockchain and digital currencies and have adopted it, In December 2022 I launched a campaign among crypto friends to adopt Bitcoin as a mode of payment in our venture and outlets, on 31st of January I open a Coffee shop and the Capital City Abuja for Bitcoin and none Bitcoin customers. This is aimed at promoting Bitcoin adoption and, as a newbie member here, I wish to see your advice and suggestions.
Thank Odusko
Nice move but don't you think the Government can come after your Bank Account if they know you are collecting Bitcoin as payment because we know that the Government has instructed all financial institutions to block any Bank account with cryptocurrency transactions, and as @Poker Player asked, what is your mode of payment? |
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Shiba reaching to 0.1 is almost impossible in near future cause the market cap needs to be enormous for that. For me Shiba is used for leverage trading. I had a lot of success with it and following it.
I never even thought that Shiba Inu would improve again like last year mate, even now Shiba Inu continues to fall in the cryptocurrency rankings while Dogecoin can still stay in the top 10 cryptocurrency group, this proves that Dogecoin is still much better than Shiba Inu. Of course, Dogecoin is much more stable than Shiba, just because it has been on the market for several years longer. Shiba Inu is a classic pump & dump project with no practical usefulness. It is normal for its price to go down, unless some whale tries to pump it again. I am not a fan of both meme coins but what would you say is the practical usefulness of Dogecoin? Shiba might be dumping more than Dogecoin but Shiba Inu will perform much better than Dogecoin when it has stayed in the market as long as Dogecoin, you said it yourself, it is only the longevity of Doge plus the hype from Elon musk that got Dogecoin to where it is but not out of any use-case. |
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I think competitors are already on the move. There are some L1 operating and some of those eth pioneer are already using those alternatives due to eth high gas fee. We cant blame them as the eth network really pain the ass having huge fee for every transactions. These will be limited only to whales cause potential builders and traders will be hurt with such fee.
Maybe this could be the option for them  if they have constantly failed to resolve a single problem everyone has been complaining about. I was reading this article sometime last year The top 5 ‘Ethereum killers’ of 2021 and it is obvious that these networks can eventually bring the Ethereum network to its knees if these high gas fees persist longer. |
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The world of technology is evolving every year what if in future a new tech is been born that can kill crypto or works better than crypto won't this kill cryptocurrencies?
Also I heard that super computers can get through all crypto wallet keys easily in a matter of days, true or false?
I wouldn't want to bother myself about what kind of technology is to come in the future and still want to continue to enjoy this cryptocurrency moment. When that time comes I don't also believe that their attention will be on how to kill crypto because there could also be even another form of digital finance or the supercomputers might even further enhance the crypto space, who knows. |
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Do what makes you think is worthy of your time. The majority wants to have a passive income through staking but we're not all good with what it's requiring and that is to entrust our tokens to where you're going to stake. I'll just hold like any other and I don't have confidence much with those staking platforms. Even they're talking about the trust and many of them are safe, still, I'll just hold my private keys and I'm good with that even there's no % of APY.
I agree that staking is not bad but it is not really something I would want to do for a long time as in, lock my crypto assets up for a long staking period. Tried that once and would have been better for me if my tokens were not staked then cos I would have made more from selling them at High than when I was eventually able to unstake them even with the insignificant APY. I just also prefer to HODL my coins. |
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What can the IMF do if El Salvador will still continues to use bitcoin as a legal tender?
They made their decision, they already adopted bitcoin and they cannot just easily change it because of what IMF says.
It's their personal decision and before they consider bitcoin as a legal tender, they already had a series of studies to know how it will benefit their economy and their country overall. Besides, it's not only bitcoin that is considered as legal tender in their country, they always have an option.
Honestly, IMF has nothing to do with the decision of El Salvador, but it may affect the relationship status between them. IMF is seeing the threats brought by bitcoin and according to them, bitcoin adoption entails large risks for financial and market integrity, financial stability, and consumer protection. It also can create contingent liabilities. Read it here: https://www.imf.org/en/News/Articles/2022/01/25/pr2213-el-salvador-imf-executive-board-concludes-2021-article-iv-consultationNayib Bukele is very firm in his own decision not to abide with IMF, but i don't think El Salvador citizens agree with it since there were 80% of them were totally against from adopting bitcoin. There are many things that a Government pass into law in many countries that the citizens might not agree about but it will pass anyway because it is the government's decision and I believe that President Nayib Bukele and his team most have definitely thought about this whole process before taking this step and understands there might be hurdles but knew this is what was needed even though the citizens might not get it yet. |
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the answer to that question and simply never. we have to be realistic the price of bitocin will not increase infinitively, has limit because there will be competition, people will prefer other altcoins that are better than bitcoin. so we have to be realistic about this. there are people who kid themselves thinking that the price of bitcoin will increase a lot to the point of worth a million dollars
The main question was this "Will owning 0.01 BTC really make you rich?" I personally don't believe so even if Bitcoin were to reach $1m, 0.01 BTC isn't enough to make you rich even in some third world country however, you cannot really conclude like you did that you know for certain how much Bitcoins price will not reach because if you were asked this question 10 years ago, I believe you would have said that Bitcoin will never get to $68k like the guy in this Post and if for sure people will prefer other Alts to Bitcoin. |
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I believe that fraudsters are still under the same roof in forums that have given us a lot of experience or lessons about crypto..
I ask is there no follow up with punishment like real life cheats?
and is there a way to work around this so that we are not deceived and lose money, especially the loss of our crypto assets.?
When you say fraudsters, what exactly are you referring to? I believe if you are referring to activities within this forum, there has always been punishments for people caught cheating like the Negative trusts and the likes but is it more demanding on every individual here to watch out for the people you are dealing with because as some have also mentioned, everyone here is anonymous so apart from flagging the account nothing can be done to the person except where that person is known. |
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Hi,
I am sort of new to investing and have some funds to invest. Dogecoin and Shibacoin have been going through much hype in 2021 so I am thinking of purchasing some of this new coin ShibaDoge. But I am a little confused, if I do purchase it by exchanging it through ETH and then later on I want to sell it, how do I sell it?
So, are you wanna say if you wanna buying it through ico or ido? If you are able to buying it with your ethereum and you must able to do vice versa, right? If it doesn't listed in the market and then you will not able to sell your shiba doge. Is not it better when it goes to the exchange site? im sure that you will still able to sell it through dex as the new meme tokens will always be listed on dex. Do I have to physically find someone who wants to buy it off me?
You don't need to do that but the right party that can answer this question must be the developers of sibadoge. that's a new coin. Ask the dev about that. If they didn't have ETA to list your siba doge and then avoid to buy this meme token. I should remind you that meme token potentially to be another scam token. You must be careful with it. Even if they do have an ETA for listing, this might not mean it will be listed as stated. You must understand that investing in Cryptocurrencies, in general, is a risk and even more so with meme coins that have not been listed. If I do ever decide to invest in any meme coin then I will suggest waiting till listed at least it wouldn't just blow immediately after listing but you might have a chance to buy it then for low price. |
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Now that bear market is slowly taking over the market what can a newbie do to make money in a bear market?
Buy at the dip. This must become the best choice for the newbies coz they will buy tokens when it was on the bottom. So, you can accumulate more and more tokens as your preparation before the next bullish trend. Im sure that if this will be also become the best way to generate more and more money for the newbies instead of staking. You can do staking but when you're in bearish market and this is not so good. Staking is a bad idea in bear market I heard, even mining coins are not profitable in bear market too so what's the way forward?
It'll be a bad idea coz you are staking the tokens or altcoins instead of stable tokens. If you are staking the stable tokens and the return will be stable and you will not face the risk caused by the volatility. When you're in the bearish market staking the stable coin is the best choice and accumulating more and more cheap tokens from the market. I believe that this is the right mindset all investors and traders alike should have. but this happens not to be that case still most are rushing to dump and make the market worse every time there is a little dip. For the fact that some understand and believe that the market will certainly recover after dips and know to put their assets to other use like staking and receive even a small additional amount and not put pressure on the already down market are best. |
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The people from 5-8th position are the true winners here to be honest 😂😂
A few years back, I think in around 2012 I also made about 10 BTC from online gaming and doing some micro tasks but wasn't having that much courage to hold those Bitcoins and sold them right when I got those coins thinking the market is good and I have got a decent return ony time doing those tasks, but now when I see those transactions I go in regret as to why I sold those coins such early, if I would have hold on to those coins I would have made millions of dollars.
Truth is, almost everyone that has access to Bitcoin then, and we are not talking satoshis, we are talking numbers of Bitcoins didn't understand what the future of this Digital currency will be like and didn't have the thoughts of HODLing as we continue to hear many stories like this from the past but this is not the case now. Investors are buying up satoshis to store for the future hoping the price will continue on its normal trajectory cos Bitcoin Investment is a win-win now. |
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I am more of a bounty supporter than airdrops. I have had very good times and still have great times involved in bounties than I have done with Airdrops and even most of the airdrops you eventually might not get anything from because you didn't make the mark even after completing every rule. For me, Bounties is still the most reliable.
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why you will be left behind if you don’t learn NFT. Most people can’t tell the difference between NFT and JPEG. NFT actually make you to really own an asset. The asset is verifiable on blockchain. Well, why NFT is an emerging trend, it will have many applications. But, how do you make money from NFT? I have explained the 3 ways to make money from NFT in this video. Watch it and ask questions. https://urlgeni.us/youtube/C8aq I don't think so. the NFT section is one part where I don't really see or understand why some paintings will cost the way they do, and you are trying to say it is because they are "asset is verifiable on blockchain". So are the fake stolen pictures that are not originally owned by the NFT collectors that are putting them up for sale. The Hype is here and yes people are making money from it but it will not have any better effect than what cryptocurrencies have done already once that hype goes off. |
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There is a contradiction in the document. See the first paragraph of the document. The bill, SB 1341, was introduced by state Sen. Wendy Rogers, a Republican. It seeks to amend the list of accepted legal tender to include bitcoin, which means the cryptocurrency would be accepted for the payment of debt, public charges, taxes and other dues. The bill is to seek the amendment of the constitution to include and not to replace the legal tender. Whether such a law could go into effect is questionable, given that the U.S. Constitution doesn't allow individual states to create their own legal tender. Bitcoin is not a creation of Arizona, and the bill is not intended to make bitcoin the only legal tender. Rather to augment the existing legal tender. So, it can be correct to say that the bill is proposing to make bitcoin a legitimate choice for payment. This might scale through in a state like US where liberty matters most. I think that part is a better case for Bitcoin than an outright case of being the Legal tender. There has been a continuous argument about Bitcoin being made a legal tender by some but I think as long as the Institutions and Businesses that wish to accept Bitcoin are allowed to and not blocked as some countries have done is ok because I think the US is a place I have always believe will not give up their currency for Bitcoin as their legal tender. |
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Hi,
What is the true value of BTC. If we take aside supply/demand and focus on the amount it costs to produce 1 BTC in terms of mining costs, what is that value and how do we calculate that?
Thanks
The cost of mining is different in different areas and regions as mining cost depends upon a number of factors, the major one being the electricity cost. However, the true value of bitcoin is not calculated by average mining cost. If you calculate this price, it will be the minimum price of bitcoin and not the fair value. The true price of bitcoin is what people are willing to pay for, in order to buy bitcoin and this true value will increase with time as more people invest in bitcoin. I definitely agree with you here because some days ago I read this post, https://bitcointalk.org/index.php?topic=5381365.0 Back then Bitcoin didn't have the type of value we see in it today hence the winner of the 25 BTC did not accept them rather asked to be paid $40 instead. Source So it is safe to say that the true value of Bitcoin is what people are willing to pay which has been dynamic over time. |
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we know that the price of Bitcoin is increasing from year to year and this is what makes it even more certain that Bitcoin will get a high value in the future.
No, you're wrong. Bitcoin is increasing from the first halving to the last halving, but not from one year to another year. Please check the Bitcoin price history in coinmarketcap or coingecko. By the way, I agree if Bitcoin price is already increasing very far, but it doesn't guarantee the price will be higher than the current ATH in the future. So, in my opinion, to expect Bitcoin to have a high price is no problem but don't rely your future with Bitcoin price. I believe I understand what he was trying to explain there. Yes, we understand that Bitcoins price might be lower in some years during a full Bear season but overall as per what OP is basing his assumption of Investment on, In 18 years, you cannot say that Bitcoins price will be lower than this last ATH of $69k which I am sure @nurilham is referring to by his statement of the "price of Bitcoin is increasing from year to year" which I also agree that by that time, 18 years from now, the OPs $100 Bitcoin investment will certainly be way higher than its value now. |
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It is neither actually. NFT is just a technology provided by blockchain and smart contract. One of its uses right now is art. But if you are to ask me about NFT in the art world right now, whether it is really an enriching contribution to the rich history of art or it is simply a monkey business, I would say it is more a monkey business than art. NFT in art is just a hype. And all kinds of people, celebrities, opportunists, etc are just using this hype to make money. They're not even creating beauty.
I am not an NFT expert and still not sure if I understand correctly how ownership is transferred and how NFT prices are estimated. However, I also have the impression that the popularity of NFT is just a hype that can pass at any time and if interest decreases, unfortunately NFT prices will also start to fall and many people may be left with nothing but just some worthless digital image.I agree with that, especially those that are obviously copied from already existing pictures while some digital painting apps were used to make them look like painted NFTs. I believe as time evolves in the NFT world people holding all of this copy and past NFTs will certainly lose out, I am not really into NFTs myself though. |
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Mayor announced We are going to launch Crypto Rio and invest 1% of the treasury in cryptocurrency. The government has a role to play. Paes added that the state is also preparing to instruct tax exemptions for the crypto industry. I do not care whether the government invest in the cryptocurrency market or not but the import aspect here is they are thinking about tax exemptions to the new market and that is how a government should be rather than some countries ruled by jokers planning to regulate and restrict the market. If we want to see innovation, it should be a free and open market. I have always thought about it, why isn't these countries investing some percentage of their treasure in Bitcoin for a number of years, because we have seen individuals and institutions that have made good profits from this investment and with Rio's mayor taking this route for the city I believe is nice most especially with the tax exception. I believe this will even encourage more investment. |
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