I was very happy to joined bitcointalk. org November 7 2020, but I came to discovered one thing in the community that is making me wondering, if bitcoiners don't trust themselves by seeing themselves face to face like the way church members or Muslim members love themselves by seeing themselves face to face after the service. Going to three years now, am trying to see some of the bitcoiners in my area to discuss with them how to join hands together to promote Bitcoin in the society but they said they prefer discussing it online than see each other physical.
Are they ashame to be a bitcoiners? or they are among the people that think Bitcoin is a scam?
Why Bitcoin users are afraid of see each other physical?
I believe it is basically because of safety. If not for the Bitcoin promoters on youtube and a few celebs that can afford to advertise themselves like that, I believe other Bitcoiners might not want to get to that level of letting you know who they are, why do you think there is this thing against KYC even at the exchange level even apart from your Docs been stolen or sold? mainly because of safety and not because of not being friendly. MHO. |
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Never leave you coins on an exchange, Binance is an exchange. To have full control over your asset, use noncustodial wallet. Cold wallets are safest wallet type.
Right. I have seen a couple of such kinds of posts about new investors into Bitcoin lately and most of them never mention how they have secured their Bitcoin investment by moving it from exchange wallets to any none custodian wallets which is also the first thing you should consider while investing in Bitcoin. Anyways, I believe OP has made a significant step by being able to make this first investment, and hope you will be able to hodl on considering what can happen with the market price which is also very important with investment. |
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In my environment, people mostly work for a fixed monthly salary, which can be increased if they work on Sundays, holidays or at night, and I think that most people still prefer that way of payment. Maybe in some industries weekly salary payments make sense, but in most cases it just creates additional work for the administration, because it is much easier to calculate the salary once a month than every week.
I also know that there are companies that, although they pay a fixed monthly salary, also motivate their employees with additional bonuses in the form of a percentage of sales. In this way, people who work in direct sales are motivated to try to sell as much as possible, because in addition to a regular salary, they can also expect additional earnings.
I would therefore always opt for a fixed payment because it still provides much greater financial security, and I know a lot of people who do something extra in addition to their job, so sometimes you can get the best of both payment methods.
Agreed. I believe that it depends on the location and what is obtainable in that location. Also in my location, it is mostly Monthly payment cos I have not come across any organization paying weekly even if you are in a sales unit, your extras as sales bonuses also come monthly, and for me, I believe it gives you a better organization of your expenses. if I were an employee, I would ask my boss to pay me weekly. being paid weekly is actually much better than being paid monthly because usually, people who are paid monthly will enter into a debt circle unless the payment received per month is large enough and can cover expenses every day.
I disagree because, if whatever you cannot manage as monthly pay, you still will not be able to manage it as weekly pay. I think weekly pay will even make you spend more because you believe there is another paycheck coming in the week ahead and you will not have the will to save. |
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Bitcoin is a cryptocurrency that no has the capability to predict it's rise or fall.
I am beginning to have a doubt that Bitcoin cannot go to a higher price just like the previous year.
Cause Bitcoin is determined by the number of people in the digital market. Just like the higher the number of people that purchase Bitcoin the lower it's price and for it price to go higher it requires some Bitcoin investors, traders and miner's to withdraw some percentage of their Bitcoin. So I still have the doubt of Bitcoin shooting higher just as we are expecting in 2024.
If you really are beginning to have doubt about whether Bitcoins price can reach its previous ATH, where is the proof that there is no longer the number of investors to rally the price upward? or you are obviously just doubtful as a newbie? well, it is obvious from your statement, for its price to go higher it requires some Bitcoin investors, traders and miner's to withdraw some percentage of their Bitcoin. I want to believe you are trying to explain HODL here, however, the more people purchase Bitcoin, the more the price goes up because investors are putting more money in the market and not as you stated. |
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Bitcoin adoption keeps on gaining popularity because many cities trying to adopt Bitcoin and implement its system in their economy. Just like what the mayor of Lugano did, other authority is not that hostile to Bitcoin and sees the potential for growth if the Bitcoin system is integrated into their city's economy.
Am sure we will be seeing the same scenario in the near future as Bitcoin adoption keeps on propagating.
I do agree with what you said even though Bitcoin still has its trial times, we hardly see all this positive news when there is blood in the market as most merchants might be reluctant to accept it then however, I do believe that In time to come, Businesses even without the adoption of the Government will continue to accept BTCitcoin as payment because of its decentralised nature for those that understand even though as I said, I believe this will still be more during price uptrend. |
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Well, I have to clarify that personally I have never had any loan or debt in my life so this thread has nothing to do with my experience but intends to find out how people in loan/debt deal with the problem. Let's say you take loans from a bank and sometimes for whatever reason, you can not pay the debt on time, then you borrow money from other channels. Sure this works for a certain period but later bad things may happen, you have to postpone the payment and struggle with finances again. Isn't this a vicious circle ? How would you deal with the problem ? I am all ears.
To start with, I would want to believe that for anyone going into taking a loan to do anything, that thing or investment should have to be something that is capable of generating the payback money for the loan you have taken if not 100% but at least to a reasonable amount but not to collect a loan to buy what can not or will not generate profit to pay for itself somehow. if not in this line, then a loan for me is a no-no. |
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The message in the image from Huobi exchange is encouraging new Bitcoin adopters to not be discouraged by negative opinions and "FUD" (fear, uncertainty, and doubt) surrounding the cryptocurrency. It highlights that technology is advancing and Bitcoin is a reliable digital currency that has faced challenges before but has always persevered. The message also mentions that the only thing the "haters" can do now is create central bank digital currencies (CBDCs) and spread FUD.
Agree and I believe the message is very clear and encouraging as you said but can we say that this has to be targeted only to the new Bitcoin adopters? my view is that even the supposedly old hands in the space fall for FUDs too because most still lack the understanding and firm belief in what Bitcoin stands for instead of just seeing it as an investment tool. |
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I think and believed, you're not Satoshi.
 That was just cold but on point. I believe that some people should understand that things will not work the way they want and OP should have known this too. Nothing is NEWS in what Op is saying, you chose to trade where you want, but whether the whales can totally manipulate the market I don't think is absolute and for price control, I doubt, except the theory of market demand and supply no longer applies. |
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Yeah, bitcoin does have the features to be a worldwide used currency but sadly, it doesn’t look likely as the government of most countries are not really bitcoin friendly.
...
15 years ago there was no bitcoin at all, 10 years ago it was interesting mostly to some geeks. And now some countries already adopted it. Don't be too hurry, the events are going with their own speed: one day bitcoin can become a worldwide independent currency, but to do so it has to work on different things including known problems like price and time of transaction or scalability. One day we'll see both that these problems are solved and bitcoin is accepted mostly everywhere. I don't think this has to be, that is, for Bitcoin to be taken as a worldwide independent currency. I might not know but I could guess that the global Government might not come to this point ever where all accept Bitcoin as a legal tender except this is not what is been assumed here. As far as I am concerned, Bitcoin is already a global currency because those that have seen it as such have been accepting it for different things even some fiat currencies of some countries are not accepted in other parts of the globe today. |
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It is music to my ears every time I read about businesses big or small or medium accepting bitcoin or even cryptocurrencies in general. Here in this forum, most of the time it is the Nigerians showing their bitcoin adoptions. More power to you guys and keep it coming. Maybe Nigeria is the next country to legalize the use of bitcoin as a legal tender.
Sadly in my country, we cannot accept bitcoin without a permit from our business bureau which is a very long process. But I am not losing hope that one day I will travel around my country to see stores that accept bitcoin.
Nigeria being the next country to legalize the use of Bitcoin as a legal tender will actually be a long way still. Political Campaigns are actually ongoing and none of the candidates has even spoken to anything remotely close to that. All the news you would see coming from the country is personal acceptance, people that have come to understand Bitcoin and wishes to accept it in their Business. Hopefully, someday there might be a government that will reverse the ban by Financial institutes like Banks from Bitcoin transactions. |
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Congratulations on your first Bitcoin buy as you said, you are planning on buying more so I would suggest you to DCA monthly if you have the means to in growing your portfolio and do not risk trading if you don't know how to. I am also glad that you understand that Bitcoin Investment isn't a get-rich-quick thing which some people think thereby ending up being disappointed when things don't go that way and I believe that it is a crucial step to know with Bitcoin investment.
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There is a serious need for "Bitcoin Life Insurance" In the coming years we are going to see so many cases of "Lost Coins", these will be coins that are not accessible because the surviving heirs are unsure of the password to the ledger or trezor, or whatever cold storage wallet they have, or they just won't have copies of the private keys.
I am not aware of any such policy or service that is trusted to mitigate the transfer of ownership of crypto assets to heirs in the event of one's death. Is anyone familiar with a company that does this? If so, what measures do they take to ensure that the crypto is indeed successfully transferred? Is it a Trust, or some sort of financial advisory board? If someone signed up, how could they ensure that the companies products/services are to be trusted?
I'm sure this subject has been brought up. I have just finished up my CEs for my 215 license to continue selling life insurance/ health insurance and it got me thinking. What are your thoughts on this?/ is anyone aware of a company that provides said service?
Best,
TREAD
Quite frankly, I believe the case of "Lost Coins" could actually be less now because we cannot compare the understanding of Bitcoin today with how people took Bitcoin in the past decade. Investors could be more careful in handly their info even though there might still be that issue of if the loved ones can access that info after the holder's demise. Secondly, talking about Bitcoin Life Insurance, what will be the option here, give them your PKs to all your wallets while you are still alive or give them the wallet to pass down to who should have it without the PKs which is still the same problem, I don't see how this will work with the traditional Insurance way. |
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Everyone has drawn their resolution for the year as regard Bitcoin investment and more. Bitcoin is bound to do what it wants to do. And no matter where the direction of the market has chosen to point to, i will just buy until when i feel it has gone too high to keep buying.
I am longer paying attention to all the noise that comes with short term investment anymore. It is better to be in red on a short term than to lose out on big opportunities on a long term. If the market is selling at a low price i will buy, If it is buying at an uptrend i will still buy. The only difference is i will try not to buy too high because in all the buying profit is the target. The goal is not to get rich but to catch up with the next trend and ATH.
The fact is on a long run the market will do what it wants to do and not even the best analysis can change it from making its desired moves. Bitcoin long term prediction is becoming even more harder to make as external forces keep playing out in the market more often. Staying positive for long term goal has given so many good profit in time past and it won't be out of place if similar occurrence happens again on the long run
What do you think!!!
I do agree with you. I have always thought of Bitcoin investment as a longer-term investment and have been less worried about what will happen tomorrow or in the immediate future because I have seen what has happened to Bitcoin's price over the years. When you have this kind of mindset in regard to Bitcoin investment you will always make it out fine as long as these are funds you will not need immediately. |
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Bitcoin have show quite a lot of traction lately even though there have been many challenges in the past few months in 2022, the the year 2023 have been filled some exciting chart outlook where Bitcoin shown a lot of green signal of more demand compare to the red negative chart that flood the chart through out last year.
WHAT IS YOU CURRENT BTC MINDSET:
2023 is the year I found my confidence in bitcoin as I have not check the price of Bitcoin for the past 80 hours, since I am now fully into long term holding giving myself, a timeframe of 2-3 years before looking back on the price but what I will do is to accumulate more Bitcoin as chances present itself.
Who else have my kind of mindset let discussed welcome to the future Bitcoin holders!
It is good that 2023 has eventually given you the confidence mindset towards Bitcoin but does this mean you never had confidence in BTCitcoin? A true believer of Bitcoin will even see the past year's Bear trend as the Biggest opportunity to have accumulated instead of waiting for it to gain about $7k+ from the seemingly bottom of $15k+ before seeing this opportunity which we could have taken advantage of back then and hope the next bear season is not going to be a downer again  this said, BTCitcoin investors should always see the long term rather than the present market position. |
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Recently I have had numerous reunions with Uncles from my extended family. Some of them are successful businessmen for decades. They built their business from nothing and are living quite a comfortable life now. We had long conversations about life in general, including their key to success. I knew very well that they have been hard workers ever since I had a memory so I would contribute their success to endless efforts. However, one thing they had mentioned in common was luck. They believe pure luck made them meet and grasp those opportunities and become successful rather than their smartness and efforts. I've thought about this before and couldn't agree with this more. They've set very good examples to me, including my father, and now I tend to focus more on work itself consistently and let luck or fate takes the rest.
That I would say was just a laid-back explanation for it. you know what they say, “ Luck Is What Happens When Preparation Meets Opportunity" What do you think would have happened if your uncles were not prepared or didn't have the knowledge that is required to excel in that field? you still need to do the work like in this story of the Beatles one of the most famous rock bands and best-selling bands in history. When the band moved from London to the US to play at clubs, they played for an average of 8 hours, for 270 nights in about 2 years. This time gave them the opportunity to constantly improve on their craft, thus that by the time they had their first burst of success, they had performed live an estimated 1200 times, making them adequately prepared by the time the opportunity came by. So, if you are not prepared, you cannot recognize the luck that has come before you or take advantage of it. |
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CEX deserves all the hates it getting now but doesn't mean it has also not been helpful to bitcoin and crypto space.
I know that most issues that affected bitcoin and crypto space as a whole was mainly from Centralise exchange in 2022 but that can't just make us stop using it instead we should be more cautious on the centralise exchange we use and since the whole issues happened , Government are going to strengthen the regulation of centralise and there will be more transparency from the exchange to their customers, especially with regards to custody of customers assets and proof of reserves .
Apart from the from this issues CEX has really helped in increasing bitcoin and crypto investors because most investors are not scared of buying coins from them because they are too many crypto scammers online and I myself got scammed last year,After that I come to the conclusion that if not CEX am not buying any coin.
Though I buy from CEX but I am always careful on the one's I use and I also use binance p2p. Some of the trusted one's are :
Binance
Coinbase
Kucoin
Kraken
Bybit
There are definitely others and they may be better than this I listed but this are the ones I have used
After the whole issues of FTX my advice is though buying from CEX is safer but storing all your funds there should be avoided and for holders just stick with DEX.
If you ask me, I don't personally hate any CEX and that's the same for most the people if you know how to use these exchanges you won't have any problem and you won't hate these exchanges at all. If you use the exchanges only for exchanging assets and then withdraw the funds without of holding anything here you won't have any problem if you choose a legit change, otherwise holding assets and bitcoin on the CEX will harm you and you may face the same cases as FTX. True that and the thing is people still seem to forget that vital aspect of using the CEXs. I personally don't have any hate for CEXs as well, I have used many of the services from trading, p2p, direct bank deposit, and withdrawal, etc but we must understand that leaving all your crypto assets in the exchange wallet comes with that risk of losing them should anything happens. |
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Child first interaction is family and their parent, some thing good show by their parent will give good habit for every kids and I think is most important how to guide with good education for our kids not only with moral but also with economic financial side. Bitcoin have been popular and helped many investor earn much profit trough their investment, I won't missing for educating my kids at the future how to know and get advantage with bitcoin.
I don't think my kid aware or not about Bitcoin keep guide and teach them how to understand it, not matter how longer need time to make my kids understood anything about bitcoin until he know how potential bitcoin for the future.
Everything have got its time. Just because we were aware of bitcoin and hope for the best in the future we cannot make our kids succeed out of it. To me, it is the kids area of interest that needs to be found and provided with proper education that can make him/her master it. Very few parents does it, whereas the majority try to give what they missed out of financial situation or family situation. Giving the kids with education about crypto is good, but we should not give them wrong guidence that bitcoin is the way through which wealth is made. Same as the parents if the kid during his young days weren't able to make money out of crypto, this would disappoint them. This will give him/her the understanding about money making and forget the best part of the cryptocurrency. Exactly. We have to understand that money management comes from a whole lot of other life understanding and children should be allowed to enjoy childhood. As they grow, they should be thought to be responsible, and other factors that enable them to take better decisions as they grow including financial decisions which can also include understanding Bitcoin instead of making them believe this is the only way to financial success. Without those basic understanding, children could easily waste what you thought will be their financial freedom. |
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From the get-go, you knew you don't like the job but you applied for it and got accepted and you have been working the job according to you for the past four years and it has been taking care of your financial needs which is the reason we work in the first place. Now you have another stream of income from something else adding to your monthly income however, I would suggest until you get another job that you like, keep holding on to that one you hate  because as you said, " fear of the unknown" could happen to the passive income line and you are back to zero. |
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many people who profit from investing in bitcoin but many also lose because of investing in bitcoin, but the cause of people who lose because of investment
in bitcoin include:
: the result of not being able to withstand it so that it is finally sold at a low price, and the causes are various, such as panic because prices have fallen, or because there is an urgent need for life, so that you are finally forced to sell bitcoins.
but there are also many who profit from investing in bitcoin, but those who profit are usually people who are strong at holding bitcoins. and sell it when the price is high.
bitcoins help a lot
economy of all circle, including:
: many rich people invest in bitcoin and get big profits.
: poor people can also benefit from bitcoin, if they are interested in investing in bitcoin. and not a few people who were once poor are now rich.
: people who have physical impairments caused by accidents or who have been born with disabilities, they can also invest in bitcoin as long as there is a will, and I see many people with disabilities (physical impairments) who are now economically assisted by investing in bitcoin.
and the unique thing is that investing in bitcoin can be done with small capital, even less than a dollar. so bitcoin is very unique and helps the world community a lot.
what do you think about bitcoin have you ever been helped economically by bitcoin.?
The answer is really simple from what you pointed out and that is the fact. The reason rich people are able to hold to gain more profits is that they are already rich and might really not need that investment in Bitcoin for their daily life financing which the poorer people can't afford hence you will see them going back to sell off part or the whole investment some time in lost because needs have to be fulfilled plus I don't know where you can buy less than a $ worth of Bitcoin because there are also fees to pay in the transaction. |
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As bitcoin continues on its current bullish path, all kinds of people are trying to ride this wave by buying any cheap coins they can get their hands on as they anticipate the next High to come. But the scary part about this is that Big money is also flowing into the crypto economy that will push price to easily register new highs, but this comes at a price, when these whales decide to take out their money.. markets bleed red which is why Big money is not good if volatility is to be controlled. In the long run Bitcoin is better off without the Big money, otherwise this becomes like a pyramid scheme always leaving the last man standing with empty pockets as the first guy to make a move gets all the accumulated $$$$.
What's the community's take on this?
This is why it is crucial to invest in Bitcoin especially when the market has dipped during the severe bear market but some people still don't seem to understand this, they will only want to invest when the market has reversed but I can't really say this is were the market is now. That said, Bitcoin has turned into more of an Investment asset hence the volatility is appreciated but as I said, you can only see gains to this if you invested early regardless of Big money. |
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