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641  Other / Beginners & Help / Re: Some Common Mistakes Made by New Crypto Investors on: February 19, 2023, 11:11:08 PM
-Lack of Basic Crypto Knowledge:
It starts with this.
It's a simple basic knowledge but it's very important to acquire if you are new as a crypto investor.  If you're fully aware of possible scams, getting lost your wallet seed and etc. that result in your Bitcoin loss is just because of the knowledge.

Another factor could be greediness.
Last year, we heard people has been scammed because of double Bitcoin on Twitter or even on Youtube, hoping that the amount they will invest get doubled.
642  Other / Off-topic / Re: Enjoy your money you work hard for. on: February 18, 2023, 11:46:19 PM
It's a lesson to learn here.
We should always prioritize our health as a wealth over our work, yes we work hard for our future but it's all wasted if we can't use them in the future and the worst fact is if no one knows our wallet and it belongs to an unrecoverable Bitcoin.

I wonder how much of the total supply is really gone forever. Some researchers say that 3-4 million, but since we are losing bitcoiners to diseases and accidents every day, that number could be much bigger.
I read this, and it says 20-25% of all Bitcoins that have been mined are lost/unrecoverable Bitcoin which is estimated between 3.78 million and 4.79 million.  It will continue increasing every year.
643  Economy / Trading Discussion / Re: Time to buy or sell? on: February 18, 2023, 11:25:52 PM

Hello,
Thank you for your reply.
The short time? How long? How can I recognize this period?
Suppose you have invested at the current rates say $20k and hold it for long term which can be 4+ years with patience and then prices rise to $60-$70k so you can sell at that time but if you are asking for how long you should hold or when to sell then we can't tell you the exact timing for it so you have to make your own decision at that time.
It's not too late, we're still in that range right now.
This has been asked so many times here and my answer is always like this, there's no specific time for buying Bitcoin, you can purchase anytime you want, just hold and wait for your profit is all you need to do.  As long as you didn't sell at a low price where you purchase, it's fine.

It could be the best method of buying Bitcoin is the DCA and I tend to agree comment above, that could be your buying point every time when the price is low.
644  Other / Archival / Re: What is the easiest way to explain bitcoin to a regular person? on: February 18, 2023, 10:59:02 PM
Has anyone here had troubles explaining bitcoin or crypto to a normal person?
Most especially those non-techy people will hardly understand Bitcoin or the entire cryptocurrency.
Sometimes old folk didn't understand the latest technology and IMO, those people who are in the new generation are easily for them to understand Bitcoin and crypto which not that hard to explain.

Quote
If bitcoin is supposed to be the future of finance, then the whole world will need to know at one point or another. Basically bitcoin and crypto education is borderline mandatory in our honest opinion.
This depends on the government of each country because the government really hard to adopt a decentralized and make it a centralized currency.
It could be for the country that Bitcoin already declared legal and tender to their place, it's easy to spread the education of crypto, especially Bitcoin.

If people have an interest in Bitcoin they will need to do their own research even if no one teaching them.
645  Economy / Trading Discussion / Re: Why are there sometimes big difference between spot trading and futures? on: February 14, 2023, 11:57:02 PM
And another question:
At the same time, coinbase had way better rates than Binance. Is it legal to buy tons of coins on Binance, withdraw, deposit on Coinbase and immediately sell the coins, then buy USDT and withdraw on Binance again?
IMO, there's no problem with this as long as both exchanges that you've used were KYCed verified.
But the disadvantage of this might you will face high fees for transactions for transferring your funds on these exchanges.

There are too many disadvantages if you're in future trading, first, take consider choosing a legitimate exchange where to entrust your fund and the second one is the risks and speculators possibly can lose even their initial margin because of future use leverage.
646  Bitcoin / Bitcoin Discussion / Re: Bitcoin (food for table) on: February 14, 2023, 11:40:16 PM
Supposedly Bitcoin is for peer-to-peer transactions or means of payment, that's the reason why it was created.
Bitcoin doesn't promise to anyone to make a profit, but due to the price matter on the demand and supply there are too many of us storing Bitcoin value hoping to make a profit in the future but I don't think if you want to get quick rich, you can gamble in trading.

Trading is very risky and I confirm this is meant for everyone, you might get a profit but the chances of losing money are quite high and if you've enough knowledge I suggest don't do trading.  There's no accurate result of making a profit on trading, it's very risky and you can't rely on this to bring food to the table.
647  Alternate cryptocurrencies / Altcoin Discussion / Re: Thoughts on BUSD and other stables. on: February 14, 2023, 02:54:26 PM
What do you guys think about BUSD? Do you think it's worth using over USDT?
What do you think about stables in general?
In general, it should be pegged or backed by a physical dollar and it should be audited and regulated to maintain the 1:1 ratio.
Many people are now switched on BSUD because they feel safer on it, not like USDT has previous controversy about their supply, they are still doubted this USDT.  But since USDT has a more liquid stable coin and it's the most popular, they still prefer to use it or blindly use this besides the allegations.

They're the same concept of being centralized stablecoins, we also didn't forget that we have decentralized stablecoins like DAI and JAXX, they are also useful when it comes to decentralization.
648  Other / Meta / Re: What's AI Written Post? on: February 14, 2023, 02:25:57 PM
It seems a little bit off-topic but I just wanna share here this funny post that I've found on Chat-GPT's group and I don't know who is the source of this.  It seems someone playing on the ChatGPT bot.

ctto

It's might obvious if someone used automated chatbot tools and post it here in the forum.
At the first glance, it would be didn't interact with the topic or doesn't give a healthy discussion.

It seems there's someone suspected now on meta using an AI bot and it end ups plagiarism which is the number cause of using this bot, if you care about your account, think it twice.
649  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Is it risky to invest in new crypto coins/tokens on: February 13, 2023, 11:59:32 PM
Yes, it is of course.
Especially if you don't know them very well, you should follow their progress from the start so that you'll know if they are organically pumping the price of their coin without manipulating them.  The most common thing that happened was they manipulate the price and then dump when they got many investors.  They take profit and abandon their project.

Another factor might be there is also a big player on such a project, right after listing they will sell all their investment especially if they know the price pump because it's hyped.
650  Bitcoin / Bitcoin Discussion / Re: Helped my neighbor to purchase some Bitcoins on: February 13, 2023, 02:52:19 PM
Great initiative.
  • Bitcoin awareness -check
  • Understand Bitcoin  -check
  • Proper Storing -check
  • Choosing the right wallet --not stated

Thou you mentioned the golden rule of storing Bitcoin "Not your key, Not your coin" but seems it's risky because you are using a mobile wallet which is still prone to scams, most especially personal mobile phones that every day you've used.
Hardware wallets have strong security features on their own and that's worth it to store your asset, not on the phone or more worst custodial wallet/exchange.
651  Other / Beginners & Help / Re: Which one to invest. on: February 12, 2023, 11:59:24 PM
While you're here, please spend your precious time reading more than posting if you want to acquire knowledge regarding crypto.

For a beginner like you, I suggest you stick to Bitcoin investment because that's a truly decentralized asset that could be safe for beginners who understand Bitcoin.  There are too many coins to choose from in the crypto market nowadays (it's called altcoins)if you wanted to invest but you need to know them first because it's a high risk to get involved in altcoins, it's high volatility.

Crypto and Bitcoin are different things, read this infographic or this article.
https://www.wallstreetmojo.com/bitcoin-vs-cryptocurrency/
652  Economy / Trading Discussion / Re: In need of good trading teaching video link for beginner on: February 12, 2023, 11:36:11 PM
Here's my bucket list that you can also check on your own.

But my advice is don't rely upon them, seek any other references that you learn technical and fundamental analysis as well.
Be careful too for those youtube channels that obviously promote their own coins to pump up.  There are too many of them.
653  Bitcoin / Bitcoin Discussion / Re: Withdrawing Bitcoin off the radar on: February 11, 2023, 11:56:23 PM
Cash in hand?  So it means physical transaction.
There's no way to choose a P2P in a personal transaction or in a Bitcoin ATM machine.  These are your primary options and face consequences if you really want to.

This also depends on where place you are located, it might in your place Bitcoin was accepted in many department stores, and you can exchange your Bitcoin or ask the business owner.

But in online payment transactions, (wired or bank transfer) there are a bunch of DEXs or P2P exchanges that don't ask for KYC.
It's already provided above.
My main concern is to avoid having the money deposited into a bank account. If it's coming from an exchange, there's a decent chance, if it's a high amount, that you'll be asked for further details. I'm not quite sure about splitting deposits from P2P transactions, though. That way, it won't direct back to an exchange, right?
There's always a trade size limit on each exchange, it's a good idea if you read first the terms.
In Bisq here's what you need to know.
https://bisq.wiki/Account_limits

Have you tried Binance P2P?
There's a limit per trade size and you can read it here

I tried this option without linking to my bank account but I used an app that supported remittances upon withdrawal of your money and don't need a bank account.  It's called GCASH in my country, from your crypto convert it to fiat via p2p trade locally and send it to the app and then withdraw your fiat to any remittance center.  I dont know where you come from but if there's an app have a feature like this in your country could be helpful.


654  Other / Meta / Re: Good Initiative by Royse777! on: February 11, 2023, 11:29:01 PM
IMO it's a good idea but the problem here is how to prove that the forum member uses AI tools upon posting.
A low-quality post considered made by AI?
Can AI possibly have wrong grammar when writing posts?

It might we can report low-quality posts but we can't rely on AI tools to determine or detect suspected AI posts.
655  Bitcoin / Bitcoin Discussion / Re: Withdrawing Bitcoin off the radar on: February 11, 2023, 11:07:12 PM
Is there an actual, reliable way to exchange bitcoin for cash in hand? My best guess would be a P2P transaction in person, but that's quite unlikely.
Cash in hand?  So it means physical transaction.
There's no way to choose a P2P in a personal transaction or in a Bitcoin ATM machine.  These are your primary options and face consequences if you really want to.

This also depends on where place you are located, it might in your place Bitcoin was accepted in many department stores, and you can exchange your Bitcoin or ask the business owner.

But in online payment transactions, (wired or bank transfer) there are a bunch of DEXs or P2P exchanges that don't ask for KYC.
It's already provided above.
656  Other / Meta / Re: can i get banned for image repost.. on: February 07, 2023, 11:53:17 PM
For your less worry, always put references even though there's no protected copyright on the image.
Citing sources is the safest way to avoid the ban hammer in the forum not unless if that's a meme picture that is repeatedly used by anyone else on social media and there's no source of it.  It's very simple logic here, don't claim if you didn't own this work, it always refers to or gives credit to the owner.  However, it's uncommon here that someone gets banned because of reposting images, it's usually copying a whole paragraph on an article without citing where it comes from.

You've already answered yourself OP.
657  Economy / Exchanges / Re: Binance P2P - any experience/opinions? on: February 07, 2023, 11:40:24 PM
It's a cumbersome process without these automated tools to use in the payment system.
I found this blog on Binance p2p, they introduced the new automation features in Nigeria (which I think a good idea if all country supported this).  It's auto-release orders but of course, there's a security feature against fraud.

Secondly, you have to enter the 2FA code or SMS code before payment confirmation. How is your automation tool/bot going to do that?
For now, this is the best method for a while when you didn't use any automated tools.
658  Economy / Services / Re: Earn Thousands of dollars monthly helping migrants getting job contracts on: February 07, 2023, 11:08:06 PM
I have hundreds of CV of people interested in job contracts and able to pay 3k or even more.
It's the 3k dollars won't sink than the 2k dollars?  What's the difference?

This is illegal and we know most countries have to combat or fight this illegal migrant.  You may face the cause and possible consequences if you'll do this even with how much you pay to them, it's illegal to cross borders without legal papers.  Using Bitcoin won't help with this, it's a complete scam attempt at poor people who desperately move to other countries without knowing the consequences. 

659  Bitcoin / Bitcoin Discussion / Re: What is the best way to earn with your idle bitcoin (if there is a way anymore?) on: February 06, 2023, 11:59:43 PM
So if i am not interested in cefi or really much of the defi way what else is out there? I am not really an expert on crypto but i ve been around it since 2017 but like i said i am always looking for ways to earn with the bitcoin i have.
We're the same, I've been here around since 2017 but until now, I'm still in a learning process towards Bitcoin.
The best thing that you can do is to accumulate Bitcoin as much as you can so that you'll gain profit from it.  It might good also if you'll try to purchase Bitcoin in a DCA way, buying in a low position.

Defi and Cefi are different things if you want to hold your coins without an intermediary go Defi.
I never used any Cefi platform because I hate using a centralized platform due to KYC, the thing that you must always remember if you have a coin/asset, you must store it under your control.
660  Economy / Trading Discussion / Re: Share Tips For Newbie Traders on: February 05, 2023, 11:55:26 PM
It can be devastating at times because you don't know what to do next; this frequently occurs while practicing a trade in which you believe you are already a master. To be honest, you'll feel like giving up hope several times when things don't go as planned. It's not fun to see yourself lose money you've already invested in trading. But what keeps you going is the determination of your prepared mindset to face any outcome that comes from trading.
Because trading won't work for anyone, it needs time and dedication to gain knowledge and trading isn't instant making money, there are too many things that you need to learn first it's either technical or fundamental analysis.  It feels devasting at the first time because that's not for profit yet, it's for gaining experience, the more experience you've gained the bigger chances that you'll easily make a profit.  In short, trading didn't talk all about profit.

But IMO, it feels safe for me as an investor than a trader since I don't have enough time for trading, as a newbie if you want to enter trading, give it a full time because that's what trading needs.
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