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Ordinary people are "just that", ordinary people/citizens. The ordinary and common place person, male/female/other has most likely been brought up to regard their native fiat currency as the only means of money that they deem themselves familiar with. The average Joe/Jane might even have a good idea about assets, commodities and other investment instruments, but when you start talking about a non government issued currency, people tend to stray quite far away, naturally of course. Education is most likely the only thing needed to persuade another to ever invest in crypto.
Imagine trying to explain it to your ordinary grandparents, most elderly are already set within their ways! The biggest reason of all might be that people are afraid of change.
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Disclaimer: " This is my opinion and not financial advice" That's a really good question, is it a failed implementation of a alternative currency, in comparison to fiat monetary instruments? Sure, Bitcoin isn't pegged to overtake fiat anytime soon. In fact, it might be the exact opposite to be honest. If Fiat weren't a conversion vehicle for crypto, I strongly believe crypto would probably deflate. Now, has Bitcoin failed as money, absolutely not. We are at the Fulcrum of a brand new financial industry, one that challenges the traditional systems currently in place. I think that the adoption will continue to be slow until the governments play ball and go all in, within the regulatory space. Just my two cents though 
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I know exactly what you mean. Cryptocurrency thrives off of the fact that it is easily convertible into fiat based currency's (depending on where you live). I fear if banks ever decided that they were no longer able accept cryptocurrency transactions through their medium, then a lot of people would be stuck holding worthless bags. If you had $1 million worth of cryptocurrency, and the banks within your country stop dealing in cryptocurrency exchanges OUTRIGHT, what would you do?
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It look's like you've just joined the Bitcointalk forum 2 years ago, so assuming (I apologize if I'm wrong) you're a "Johnny come lately", how much do you really know about cryptocurrency to be giving out financial advice? What kind of inside information could you have to possible convince people that they have to sell their coins right now? Where are your receipts for these wild claims? I'm not saying that your wrong but, we probably are do for a correction but you've got to be kidding me? This kind of talk sparks panic in the community, it is the start of a F.U.D campaign "Fear, Uncertainty and Doubt".
Don't give up brother, remain optimistic in the face of uncertainty. At least drop some trading view charts (technical analysis) to support your claims.
Just my two cents
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Thank you brother for you soft and kind words. These days I really don't have much patience and my nerves are shot. I keep missing out on every opportunity with cryptocurrency. Every project I invested in, or Campaign I participated in turned out to be a dud. Alot of ERC-20 tokens I had that were just holding in my wallet apparently needed to be token swapped. Bullshit, I kept them in my wallet cold storage thinking they were safe, unfortunately not from projects requiring limited-time only token swaps. Please, If your reading this and have ERC- based tokens, remember to practice your due diligence and keep updated on every single project pertaining to the coins and tokens you own! Opportunity is swift, this must be why they say "the early bird always gets his worm". Why don't proverbs ever make sense before it is too late, instead though, only after you learned hard lessons?  |
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Personally, I'm thankful I didn't make any trades today whatsoever, phew . I've been here for quite a few years and still haven't taken the big plunge and switched over to crypto from of fiat. Today's dip and others like it are probably a good reason (just guessing) why institutional investors also haven't decided to go balls in. Speculators play it safe, but they say, the less of the risk, the even lesser the reward. |
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I have been investing in an Non Fungible Token game called "Gods Unchained", and it costs considerably high gas fees to buy cards on the market. In a lot of cases, the gas fees themselves cost more than the cards you want to purchase  , this completely defeats the purpose in my opinion. I think those high gas fees might have something to do with the adoption as well. Bitcoin has been mooning as of late , but Ethereum doesn't follow suit. I wonder what's really been holding it back? |
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I was here in 2012 and when I made a mistake (bought ASIC from the wrong company) I thought I'd never accumulate a lot of bitcoin so I messed around instead.
Just because I couldn't mine Hundreds of bitcoin I thought I missed this opportunity to get in and when my miner came (Months late and way past the first halving) I just messed around with it. Mining alts and playing with them even.
Just because you missed 15k Bitcoin it doesn't mean it's over.
I wouldn't recommend throwing money you do not have into it just to buy in. Maybe buy a little because you don't like the idea of inflating fiat and banks being able to freeze your account.
Ideally find a way to sell your services or products for bitcoin (like Andreas Antonopoulos would recommend)
There's only going to ever be a small amount of bitcoin. Even if you only accumulate 0.1 BTC instead of 1, that's still more bitcoin than every US Citizen would get if it were equally distributed. Maybe even just get 1 bitcent and something for the transaction fee. That's still a decent stake in my view.
Make a brainwallet out of that 1.1 bitcent and repeat it enough that it would take you 100 million years to forget and you'll always have a little something saved up.
I didn't get in that early, but I have been here on the scene since 2014 and way back then , I really didn't understand what it was exactly I was seeing. I had read the white papers and my Spidey sense was tingling, but I was young and in school, broke, and went elsewhere. Boy was I completely stupid. I have been kicking myself ever since. Most of the coins from airdrops I've joined over the years have died, or aren't really taking off. I've been learning to day trade, but haven't been successful yet. It's hard for a newbie t just jump into head first into the market. I'm not drowning, but I definitely am floating on a raft at sea. Thank you "O.P" for your kind words of encouragement just know that you aren't alone!  |
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To be honest, I think that the case is really just beginning to unfurl. The SEC isn't the one to play games when it comes to regulations and they have taken out way too many projects over the years. The market shows ripple making big moves despite the ongoing court battle with the long financial arm of the United States government. I wanted to jump in on the trading of XRP, but I think I personally well hold off into the final court decision on whether XRP coin is a security or utility coin. |
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I think you can definitely say that you have made your money, it just shouldn't be measured up against fiat for a accurate comparison. The question you ask can only be answered with an subjective answer. There are a few who hold there digital coins and see gold every time they check their wallets. Others see bytes of 1's and 0's. It's really a lot like viewing the glass half empty or half full. when i see my coins, I have very little, to me I see a potential fortune, even if those coins happen to be worth a thousandth of a cent.
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Tesla is not letting any time pass and is already working on the pilot project for Bitcoin integration. https://pilot-bpay.tesla.com/login is the website for it. Looks like they use BTCPay Server for payments.  Sweet, the real question is can someone please bother to explain the Model3 Tesla token to me? I'm still trying to make sense of it all, I mean there's several tesla assets on the https://www.Coinmarketcap.com aggregated index. I understand the token is the actual price of the car, but how does it work exactly? Owners get 1 Model3 Token or something? I can't really get an accurate answer, Iv'e been watching youtube videos and reading articles to make sense of it all. One thing I do know for sure, Musk is going in balls deep with 1.5 billion invested. Tesla is about to become Weyland-Yutani corp  |
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Tron is very well known from Justin Sun. He was promoting Tron very hard and always compared it to Ethereum. But he failed completely and his Tron coin was never a danger for Ethereum because Tron was a very bad and not innovative coin. It was based on old and outdated tech but Justin Sun did huge marketing. Tron will be very likely dead soon and people holding Tron will make huge losses. Justin Sun is guilty here because he has promised a good coin but could never deliever. See also here: We should not buy outdated and overvalued coinsThe first generation of blockchain technology was introduced to us through Bitcoin. Many other coins came after it during it's first generation. Then came the second generation of blockchain technology with Ethereum, with it came the introduction of smart contracts, and tokens, which still hold sway even today and is growing. As of now, I think we are within the third generation of blockchains with Eos nd the introduction of delegated proof of stake, and it's ecosystem. From EOS, Tron was born. I think Tron has come along way, and has outperformed many clones. The real question still remains, what could the 4th generation of blockchain tech be? How many clones will come from it? |
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Doing Altcoins research is very important because right now, so many Altcoins are in circulation. A very important rule so far is:
Don't buy outdated and overvalued coins!
A coin needs to be innovative to be a successful coin. So far, projects are unfolding in several phases:
- Vision Project develops a vision / whitepaper
- Trial Project tries to deliever a solution based on "vision" / product development starts
- Result Project is presenting evidence (after development) if it's working or not
Most projects fail in phase "Trial" because it didn't work and team can't deliever. After no innovative result was presented, some projects start to get lower expectations and switch assumptions. Development takes ages and a good product is always only "promised" but will never come.
Now, marketing will take over a large part instead of real progress. Marketing is done to hide failures and present very litte progress as a huge success.
And finally, it will result in an outdated and overvalued coin. It's often very similar! And we need to know to stop buying such coins because price will go down later.
Outdated and not innovative coins so far:
- Bitcoin Cash
- Bitcoin SV
- Cardano
- EOS
- Tron
- NEM
...
We should instead decide for new, innovative coins:
- Ethereum 2.0
- Avalanche
- Cosmos
- ChainLink
...
Having a look at development history is a very important part of doing our own research!
I agree with you on opting out of holding or purchasing dead projects. It's my personal opinion that I really don't think one should be buying coins that may be dead or who's development has slowed down to a crawl. There are a lot of projects that have cropped up over the years, especially since the big boom and bust of 2017. Many projects have been unsuccessful. However there are still a few gems out there in the rough that just haven't had a chance to shine yet! |
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Suppose I buy from a merchant who accepts bitcoin (e.g. Newegg which uses Bitpay).
Is this a taxable event? i.e. should I report my purchase to IRS?
Disclaimer: I am not a legal or financial advisor. I am here to post my opinion on the matter. My opinion is not to be considered investment or legal advice nor does it constitute it. For legal or financial advice, please consult with your local professional!
Every transaction besides a regular transfer just about triggers a taxable event here within the U.S. It doesn't matter where or when, the moment your use cryptocurrency to make a purchase in the U.S, the event triggers. However, there are ways to help negate some of triggers with write offs and other means to legally reduce the amount of tax owed, like charity, etc. |
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ETH really is a shitcoin with no intrinsic value. Its not a store of value since when bitcoin crashes 20% then ETH crashes 50%. When Bitcoin rises ETH barely follows, ETH is still 65% down compared to the recent BTC rise.
2018: Bitcoin $19000, ETH $1400
2021: Bitcoin $32000, ETH $1000
If you stayed in ETH you have lost more money than Enron. ETH is a scam.
There is alot of new projects that do everything better than ETH or will in the future. Let us find something better than ETH that we can all buy for cheap now have a giant distribution for everyone and then go to the moon! No need to make ETH devs and people owning 50000 ETH rich for sucking $20 transaction fees out of us.
I think that your opinion is quite biased and not inherent of any facts. Bitcoin is the foundation for all other cryptocurrencies so naturally if Bitcoin perishes, there is a good chance that other crypto currencies will fall with it. Ethereum is the best thing smoking right now and I feel that it may be seriously undervalued. I wish I had bought in when I first got wind of the ICO, I still remember first reading the white paper. To say that it has no value is ludicrous though. To each his own though, my opinion! |
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I think that it is definitely a future trend, Elon musk is a freaking huge public figure, he had an early hand in Paypal and cashed out. Now he has Tesla a budding electric car company with luxurious top of the line models that can damn near drive themselves. Musk has Space-X and now even a big Bitcoin Investment. Shortly after many celebs started buying in, like monkey see, monkey do. Fortunately for us, that drives more traffic into the market and our investments grow!  |
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Hello,
What would be considered as a good daytrade strategy? 1,5,25 or even 50% profit?
Disclaimer: I am not a legal or financial advisor. I am here to post my opinion on the matter. My opinion is not to be considered investment or legal advice nor does it constitute it. For legal or financial advice, please consult with your local professional!Hypothetically speaking, for arguments sake... It really depends upon how much capitol that you have to actually trade with. If you have $10,000 to trade with, and you want to make 1% return on investment that day, then your profit would be $100. There are different strokes for different folks, what might please some, won't satisfy others. It is subjective, I will say this however, any percent gained is a win regardless! |
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One of the saddest things for me about cryptocurrency is the fact that I've been lurking around since 2014, and I still haven't gone balls deep in the sector, I've been wading in the water for a bit after years of only getting my feet wet in order to test the waters, which were considerably grey at the time mid you, now the scene is finally getting mass adoption. I do think 2021 is the year of the Bitcoin, and next year could be the year of the altcoin Cryptocurrency. Who knows though, based on the current trajectory it looks like a sweet view from here. Congrats to all those who were patient, cheers! |
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I've been invested within the "Gods Unchained" NFT ecosystem for quite some time. I like trading card games as much as I like blockchain so it was an easy investment, however, it's been a few years and I still have no return on investment, still I will hodl for as long a I can being that I have no choice. One of the main turn off's from NFT's is the fact that no one may ever buy your NFT asset, regardless of how much it is worth, even though it's worth X amount of ETH etc.
Another big problem is the insanely high gas fees, which is another big turn off from NFT's to many people. Part of the solution to this problem is to create a Gasless platform for NFTs. 'Gods Unchained" team has planned to create an exchange they call "Immutable X" within their the future that is supposedly the answer to these NFT problems. I support blockchain games, and I hope that your team will offer a bounty campaign here in the forums in the future for this project. Going to check the platforms site out now and peep the white paper if you have one.
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Hi Folks! I am a HODL'er and all of my bitcoin is on my Ledger wallet. If I move it all back onto my exchange and sell it for a profit before the next big dip, then buy low a few weeks later and then move it all back immediately to my cold wallet, do I get taxed even though I am not cashing out? Thank you all.  : I am not a legal or financial advisor. I am here to post my opinion on the matter. My opinion is not to be considered investment or legal advice nor does it constitute it. For legal or financial advice, please consult with your local professional!If you happen to be Based within the U.S, then it doesn't matter whether or not you cashed out or not, the moment that a capitol gain or loss is realized, you have incurred a tax. Every Purchase you make and every trade with crypto could be considered taxable events. Here is an excellent podcast that consists of real attorneys and other experts who talk about everything tax and regulation related, pertaining only to cryptocurrency. https://talk.bitcoin.tax/ |
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