hey guys, i have been holding since 1Q2017, and pretty much closed my eyes on crypto since the huge crash. i see its getting back on its feet slowly, just been wondering are there any new coins that are looking good and promising. i could dyor them but it would take at least a week  thanks! First and foremost, why are people always concerned about the market value of crypto coins rather than the products or technology of the projects. People need to understand that, the value of a coin strongly relies on the nature of the project to the entire universe. Projects will good technologies usually have their coins at the top of the crypto market. Bitcoin is valuable due to the fact that it introduced blockchain technology. It is always better to invest in coins with promising technology. |
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Gold is another store of value, but not that unstable. It reached 2000$ recently and was above 1000$ for many years. Those who invested in gold back in 1900 would have made a great choice since it costed only 20$ back then if I'm not wrong. (Although dollar was way more strong than now)
Bitcoin can lose 500$ within one night. Gold can't. Why that?
You should first understand that Gold is a mineral (natural resource) and Bitcoin is a digital entity based on a decentralized ecosystem where its market value is determined by the entire people on the platform or blockchain network. The unstable nature of Bitcoin is due to the fact that everybody in the bitcoin ecosystem can influence the market value so far as they have enough of Bitcoin. Decentralization of the Bitcoin ecosystem is the cause of the unstable nature of Bitcoin. |
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According to various rumors, Bitcoin is closely following Ethereum's results. And this is because the second largest cryptocurrency after bitcoin a couple of months ago migrated its mining algorithm to PoS, several experts say that Bitcoin will also do so in the very short future. And this is basically due to the fact that because bitcoin is becoming more and more popular, the algorithm used by Bitcoin PoW generates many expenses for its extraction, ranging from large electrical expenses to high cost in mining equipment.
What do you think, algorithm migration is a solution for the high consumption of the PoW algorithm or not?
In this crypto ecosystem, people just like to speculate without having any evidence backing their speculation. Personally, I don't really see Bitcoin changing its proof of work algorithm to proof of stake. The only possible thing I see happening is a modification of the proof of work algorithm that might help in terms of the energy used by processors and graphic cards in solving a transaction made on the blockchain network. |
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Guys I haven't been here for a while and I'm wondering if Bitcoin is in a better shape than last time I checked 2 years ago.
Thanks
First and foremost, what do you mean by "Bitcoin is in a better shape" ? are you referring to whether the price of Bitcoin is in better shape or whether the entire Bitcoin ecosystem is in better shape ? If its about the market pattern of Bitcoin, the price of Bitcoin has always been up and down since it was introduced into the financial ecosystem. |
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I don't know why SEC is wasting their time and resources just to find tools to track cryptocurrency transactions when the framework of crypto transactions is decentralized. There are a lot of illegal acts and money laundering happening in the so called best financial system (the centralized system) and the SEC is there wasting unnecessary resources on an innocent blockchain system. They are not gonna be successful tracking crypto, simply because there are more than millions of miners managing the transactions of the blockchain activities.
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In as much that facial recognition adds an extra security, Bitcoin scams or Bitcoin social media scams are done via loopholes in that particular social media platform. Hackers usually access the main servers to avoid unnecessary need for the user login details to have access to the account. The recent twitter bitcoin scam hack was done directly to the main servers of twitter. With this kinda hack, having a facial recognition attached to your login details will not really help to avoid your account from being accessed. The only way to solve social media bitcoin scam is people understanding that there is nothing free in this world. Once we understand this, we will never fall for social media scams. |
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It is very baseless to conclude that Bitcoin will dead by 2106. What you need to know and understand is that bugs found in open source programs or codes can be easily fixed or solved.
Coding the fix is easy, yes. The complication is the hard fork to implement the fix. If we get that bit wrong, it could potentially split the network in two. In theory, it should be a simple update which everyone chooses to follow without argument. But theory sometimes goes out the window if anyone chooses to make things political or otherwise controversial. And before saying how easy it will be to get people to run a fix which is obviously required, consider the following. Because we want to have as few hardforks as possible, when one eventually does happen, devs will generally want to make the most of that opportunity and include multiple updates and fixes. So it's likely more than one thing which users will need to reach consensus on. They may all agree with the fix, but may disagree on whatever else might be included as part of the hardfork. I actually get the whole idea of the hardfork but the possibility of the entire bitcoin blockchain network splitting in two is something I don't see it happening. The Devs of the Bitcoin blockchain network will surely analyse and check for any thing that might cause problems to the entire network causing a split. I guess we just have to wait patiently to see if Bitcoin will meet its death in the year 2106. |
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It is very baseless to conclude that Bitcoin will dead by 2106. What you need to know and understand is that bugs found in open source programs or codes can be easily fixed or solved. This is just a baseless speculation meant to get people discouraged from adopting to the use of Bitcoin. If the Bitcoin blockchain has bugs in it, we should have seen people complaining about it by now. If Bitcoin was to die, it should have been in the early stage it was launched. Bitcoin has been around for 10 years now and you think its gonna die !!!
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Even everything above is followed correctly, still there's no guarantee that project will be good. However, if someone does enough research it's possible to avoid scam project. I am really bored on bounty and given up participating too.
There is absolutely nothing that can guarantee what the outcome of any bounty could be, even when the tasks are limited, with stakes counted promptly, it's still isn't enough of an indication that the bounty would end, but when bounties by certain managers, you can be rest assured that there is a better possibility of it being successful (or at least) pay it's participants. That is exactly the point. So far as this forum remains a decentralized platform, bounty scams will always exist. The only solution to this bounty is when bounty projects are made to pay bounty hunters in already trading crypto coin like ethereum or Bitcoin with a fixed rate per a particular campaign. If not, bounty scam will always exist here. |
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Considering the market pattern of Bitcoin since 2018, I don't think there will be any ATH very soon. The market value of Bitcoin will linger within the range of $8k and $15k. I don't really see Bitcoin going beyond $15k throughout the year. Its even likely that its market value might drop back to $8K considering what happened in 2019 when its value rose within a short period and dropped after some time.
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Personally, I think there is a huge possible for the total supply of Bitcoin to increase considering how the financial systems of the world works. I see the 21 million Bitcoins as the initial budget of the crypto coin to test how the financial economy of the world will accept and cope with it. It is very likely to see the total supply of Bitcoin to be 50 million if the 21 million is exhausted. 21 million of Bitcoins will definitely not be the total supply as the years passes. My reasons are based on how new bitcoins are created whenever a miner confirms a transaction.
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Aside from bitcoin and ethereum,what if i will hold xrp for a long time,is it worth to hold it even for one or more years? Is it possible to earn it double my investment?
First and foremost, Ripple (XRP) is not really worth hodling for a long time as a long term investment crypto coin. For the past 52 weeks, the market value of ripple (xrp) has been between $0.34 and $0.11. Considering this range of market value of ripple, investing in xrp for a long term will not be very profitable based on this stat. It will be better to invest in a masternode coin rather than xrp. |
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Some are coming back to join and invest again in cryptocurrency. The indicators were the growing market of cryptocurrency may it be bitcoin or altcoins. Bitcoin and other altcoins had positively recover after some time when bitcoin was halving way back feb of 2019. I thought that bitcoin that time will be dead. However I was wrong and seeing now cryptocurrency still alive and kicking made me feel happy again. I had now coming to a search again on which crypto could be good for investment and lead me to yahoo finance site on their listing of top 5 best crypto to invest with. yahoo finance noted on the top 5 best crypto for investment. This is their list as follows: 1. bitcoin 2. ethereum 3. neo 4. eos 5. ripple The basis were market capitalization and liquidity. More of the stories here is the link https://finance.yahoo.com/ Basically the choices were good and I guess many could agree with their list. Bitcoin is always good for the newbie in investing crypto so this would be the best choice. With regards to ethereum, I can't say anything about it but ethereum platform is next to bitcoin because its platform has been paired to new projects like ICO projects but most of ICO are scam. Neo is also good but in my case it is not available in exchanges or app that I am using same as neo. Ripple is available and one of the volatile crypto good for starters in trading crypto same as BCH. Since I only used exchange to which being approved and given licensed from the government to operate and it influence my choice of crypto and come up with a different top list of good crypto to invest with. Here is my choice, 1. bitcoin 40% 2. ripple 30% 3. bch 30% 4. ethereum 10% What do you think of this list?In terms of investing in a particular crypto coin or coins, you first need to understand the patterns at which the prices of the coin or coins changes in the crypto market within a period of time. In crypto investment, the opinion of others shouldn't be the baseline for your investment or your investment plan. Its always best to identify your personal pattern in the crypto market. I will advise you to first get your personal pattern of the crypto market of the coins listed above before you invest in them. |
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There are some people who use bitcoin as a tool to scam. Just like using this through networking which they need to invite people just to earn money. Simply they use bitcoin in fraudulent acts that another thought bitcoin is a Ponzi scheme. Hence, some become a victim of these activities due to lack of knowledge and not educated well what bitcoin truly offer.
This is exacting what the people and the media needs to know and understand. People will always take advantage of others due to their lack of knowledge. A lot of people see Bitcoin as a get rich quick commodity, and such people are very vulnerable of getting scammed with the aim of doubling their initial capital. Criminals are just taking advantage of the fact that most people are not well educated on what Bitcoin is and its purpose in the financial ecosystem. |
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Foremost, I think the reason why Bitcoin is being coined as scam because it is being affiliated with such activities.
Fraudulent acts has been taking place in crypto space, affecting Bitcoin reputation, due to its features being taken advantage for.
Until today, many are skeptic about Bitcoin for they do not have any proper knowledge and understanding about cryptocurrencies.
I don't think I agree with you on this. Fraudulent acts have always been around for ages before you and I was even born and to even think of when Bitcoin was developed by Satoshi. Crime and illegal activities existed long before the creation of the internet. If people are scamming people using Bitcoin or cryptocurrency does not really shows or means that Bitcoin is the reason why this kinda scams exist. People should understand that fraudulent acts will always exist even if Bitcoin seize to be in existence. |
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Even though Bitcoin is 11 years old, many people don't understand Bitcoin, so many people (not users) think of Bitcoin as:
1. Ponzi schemes
2. BTC is a speculation bubble
3. Bitcoin exchanges are often Hacked
4. There is an assumption that BTC is too complicated to use
5. Bitcoin is not transparent and anonymous
6, Bitcoin facilitates money laundering.
7. Bitcoin is nothing more than a store of value and commodities
not as a medium of exchange.
So I think it is very important for us to introduce Bitcoin to people around us, either via Whatsapp or live chat.
Personally, I don't really blame people who thinks Bitcoin is a ponzi scheme, a bubble and all sort of negative things about Bitcoin. The media is the primary source of this negativity about Bitcoin and the entire crypto space. The media is always preaching negativity about Bitcoin without educating the entire world about the solutions Bitcoin and blockchain brings to the financial ecosystem. The media is the one enemy of Bitcoin and cryptocurrency. |
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Bitcoin has been around for 11 years now, with a large ecosystem of exchanges, wallet providers, and apps behind it. There are now many governments recognizing it as legitimate, bringing a large number of investors into it. For just a short amount of time since its inception, I'd say that Bitcoin has achieved extraordinary results. While all of this sounds good, most people still seem to believe that Bitcoin is a scam or not worth their time. For instance, Warren Buffet criticizes Bitcoin telling that it'll become "worthless" over time. It's these negative comments, which make people skeptical about using Bitcoin and cryptocurrencies as serious money for day-to-day payments. No matter how crypto enthusiasts try to convince people to believe that Bitcoin is legitimate, everything seems to be the same. I'm starting to wonder why most people have this kind of mentality towards Bitcoin? After all, the pioneer cryptocurrency is being traded at legitimate exchanges. Even some governments have been collecting taxes from Bitcoin. But that hasn't changed people's minds about it. What are your thoughts?  First and foremost, you should understand that just a handful of the entire population of the world knows about Bitcoin and understands what Bitcoin is and uses it for their transactions. Majority do not have the understanding and knowledge of what bitcoin is and how different it is from the traditional financial system. Such people will always say negative things about Bitcoin because they don't really understand the exact principles of the Bitcoin ecosystem. And also, 11 years is not enough of change the minds of such people. |
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After reading the topic, I made the following conclusions. We shouldn't send fake documents, as we are breaking the law in this way. But the KYC check itself is also illegal, as it violates the basic principle of the crypto space - anonymity. But as a result, both things still happen.
I understand why some people might submit fake documents for a KYC verification process but considering the current ways KYC's are done now, it will be very difficult for people to use fake documents as before. Do you think KYC is really needed in a decentralized ecosystem like the crypto space ? But people say there is nothing like anonymity in this world we find ourselves. |
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