This might sound like conspiracy, but this is what I feel about this news. The government and the SEC want to control the flow of Bitcoin and this is the strategy that they came out with. Through these ETFs both these companies would try to wipe out exchanges from the US. As of now, the government is unable to track transactions happening between Exchanges and wallets. After the ETFS of both these companies is approved the government would compel its citizens to invest in Bitcoin through the ETF, for that they need to fill in all the details on a paper. Through those papers, they would be able to track Bitcoin and gain control over it. To support my theory that exchanges would shut shop in the US. I would like to ask why SEC is backing up the Prometheum exchange. I had never heard of this exchange in the past. I came across this name 4 days back when I read this article. Everything about this exchange looks suspicious is grows more when SEC is backing it. It makes sense. If you can't control it profit from it, eh? Plus it all just makes sense. Recent crackdowns against crypto and exchanges, the government going ham against people and entities who use cryptocurrencies in general, SEC taking actions against Binance, now even throwing the 'money laundering" card even though they don't really have verifiable evidence and Binance pragmatically operates on full without problem which would've been a good indicator that something was awry to begin with. In any case, conspiracy or not I don't see this buyout as a win for the industry or for decentralization. They're vying for control that's for sure, and a large company doing that isn't going to sound well for the common joe. |
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Currently, bitcoin has a very high price. I don't know why the bitcoin price can move so fast. Is it possible that there are brokers playing with bitcoin prices?
The little that I know about bitcoin is:
1. Bitcoin is the founding father of blockchain technology.
2. Bitcoin is purely decentralized. No entity, company, country or individual is affiliated with bitcoin. Only Bitcoin is like that, another coin was born from the company
3. Bitcoin is the antithesis of fiat
Initially, fiat money was born on the basis of gold reserves. But now it's not like that. Many people disagree when the US prints money massively without considering gold reserves. However, bitcoin was born without any guarantees, only the trust of the community makes bitcoin have value. Isn't that the same?
Today many people oppose the dominance of fiat. People who are against fiat will turn to crypto. But would you be happy if the bitcoin price is expensive?
If yes, then:
You still like fiat, because it costs a lot if bitcoin is converted to fiat, but if the bitcoin conversion becomes 1btc = 1000 eth or 1btc = 2000bnb then you don't have to worry about how much bitcoin is worth in fiat exchange. But you have to worry if 1btc = 500 eth. But we never discuss the price of bitcoin with eth or bnb, more people compare the price of bitcoin with fiat rates
In your opinion, bitcoin is an asset or a currency?
If bitcoin is an asset, it is now. Most people will hold bitcoin as an asset and take advantage of the rising price of bitcoin. If so you are still dominated by fiat
If bitcoins were currency, it would be complicated if bitcoins were used to buy cheap things, transaction fees would be very expensive
I have many questions in this thread. Sorry if my argument isn't comprehensive, I don't have a deep understanding of bitcoin yet
Let me just clear up confusions you had regarding bitcoin's place in this whole blockchain shenanigan. You're right first off, you could say bitcoin's the progenitor of the blockchain, and the decentralized currency system. It pioneered the idea, and rallied multiple coins and projects that aim to improve upon this concept, or capitalize on it for profit and gain. Secondly, bitcoin is indeed decentralized. No question about that. The problem comes with your last statement, wherein you mentioned bitcoin being the antithesis to fiat. While there's some truth to that in the fact that some bitcoin maximalists and die-hard Satoshi Nakamoto Meat riders regard of bitcoin as some sort of money jesus, Bitcoin isn't made to antagonize the current financial system, it could be argued that the reason why bitcoin is here in the first place is to provide and improve upon the current paradigm by giving the people a taste of what decentralized monetary system could give them in the long run, Of course as time went by bitcoin became bigger than its previous directive and is now not only acting as a form of currency that you can exchange for goods and services but is also acting as a form of asset you can invest in for profit. Fiat acts the same way anyway, we don't see Fiat Meatriders acting as if Fiat can only be one type, why rally the discussion of whether bitcoin's an asset or a currency then? |
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As for oil, it doesn't even matter, all that Europe has to do is outbid others, let's see who can afford gas at 3 euros, the EU or Africa or South Asia.
That's what I am saying. China will milk them like a cow. Russia has made its economy hugely dependent on Gas & oil and if they make another mistake and make their gas sells dependent on China, it's a double loss. China may open roads for Russia but that's where they will be milked. Either way, Russia will have to sell it very cheap, and their income will be lower while resources for China will be cheap. Win for China, loss for Russia. And India? It's a poor country too that won't be able to offer them the prices that Europeans were paying. Also, there is one thing: Who wants to strengthen the relationship with Russia but destroy with Western countries? Anyone sees the logical reasons why would someone do that and commit suicide? This war was a very wrong move, Putin probably thought that he would conquer Donbas and Lugansk and the West would close its eyes as they did on Georgia (2008) and Crimea (2014). But he failed, failed very hard. This guy's a prophet or something lmao. Really nailed it right where it happened. As it stands today Russia's acting pretty submissive and is taking the offensive against the sanctions that the whole western world imposed upon them, and with nothing but China to ally themselves with things will not go well with them. In other news I just found out that the US expressed its support regarding China exerting force upon Taiwan, with some US spokesperson saying something along the lines of "The US recognizes the Chinese efforts and recognizes Taiwan as part of China" or something, can't really remember it but I saw it in this forum. It's like things are going down the shitter here and you'd hope it's only going bad for Russia but as it stands today it seems as if things aren't looking so great for US too. Makes me think that we're really about to be in one of the biggest recessions to date. |
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You got a point here.
You're basically entrusting your savings to a total stranger, and with little to no government support you could literally lose it with not restitution if things go south, such as what happened in the past with people who had money left in their FTX accounts as well as other exchanges in the market that went down. At the very least with bank runs you have the chance to regain a part of your losses thanks to the government stepping in to provide assistance but with these centralized exchanges you can't expect anything at all especially if there's no connection with the government in the first place.
I was once an avid supporter of CEXs cause I mean they really took over the industry for a good amount of time, but now seeing as even Binance, one of the most trusted exchanges out there admitted to operating without a license on US lands and letting unregulated tokens be traded without compromise on their platforms I'm starting to second-guess if there's even any centralized exchange out there that can be trusted.
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Not gonna be the family's outcast and have them be exposed to bitcoin, let them invest belligerently and then risk losing connections to them when they blame me when they lose their money. I'd much rather have them discover bitcoin on their own and be the guy who's supplanting them information about it, as well as how to invest and all that stuff that's needed to stay afloat in this industry instead of proactively teaching them what to do. Cause at the end of the day you wanna make sure everyone's not mad at you during Thanksgiving or Christmas Dinner, plus these people pretty much have their lives figured out without bitcoin and would probably persist with their current form of incomes so I don't really see any point as to why I should let them know about bitcoin other than it's a nifty thing to learn every now and again.
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In the Great Depression of 1929, nobody could afford the cost of things. So, what did people do? They got together and formed their own mini-governments called co-ops. Some of these co-ops are still around today. What did a co-op do? Everybody in the co-op did what they could to make and supply something that other people needed. If they didn't have a profession, they simply became labor for those who did. Some people supplied land they owned. Others built buildings on the land. Others tilled the ground. Professional farmers grew all kinds of crops. Everybody worked. They supported themselves. Is it almost time to form some new co-ops? Co-ops can be made legally stronger these days, because they could be started as Private Membership associations. PMAs have been legally set in place as a sound structure, keeping standard government out.  While this is inspiring at best, I don't think this is the right way. You have the government to rely on when things go south economically. You can't expect the common joe to do contingencies that will slow down inflation so things could be easier for their citizens, it's the job of the government! Not to mention the fact that most of these issues stem from the government's failures anyway, so why should it be that the citizens clean up for the authorities' mess? I guess this would work well in times of great need but as of now when things could still be staunched, PMAs should be your last option and the government should be the first. Make them do something lmao we elected them or a reason in the first place. |
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This connotes that having those or an IQ's enables you to handle the affairs of life more better than an ordinary person or a layman. Having IQ also position you to qualifies into working in a good company than others who are not knowledgeable enough to handle that position of work. So IQ helps during school and after school, you are being smarter and creatives than others who aren't making any efforts in times of life as well as general innovation just as Bitcoin was introduced and established to us by Satoshi Nakamoto.
I've been to jobs that require taking an IQ test first before hiring you which is a little discriminative as not everyone who can do good are book smart but at the same time if they've been doing stuff like that for a while and they have thrived, it's a testament to how successful their hiring process is right? But I digress, having high IQ would definitely help you a ton in life, makes school a breeze, finding jobs easier, and landing you a better life a much simpler task compared to the average person. It comes with its own drawbacks though, such as a high predisposition for suicide and depression, as well as many other mental health issues that are associated with having an above-average IQ. |
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Hey, everyone  I have recently started to be interested in the issue of cryptocurrency, please, tell me which exchanges are considered the safest and most convenient? Short answer, as it sounds today, are none. But you can check coinmarketcap to find out which are the hottest and most popular exchanges right now (it's going to be Binance as always) but as someone who once preached great about the "importance" of centralized exchanges in the past, I think you shouldn't look at exchanges the same way you'd look at your personal wallet. They are very unsafe considering you're entrusting your coins to someone who eats hackings and scams for breakfast, and at the same time there's also issues back and forth with Exchanges fooling their stakeholders as well as customers by misappropriating customer funds for personal use, which is what happened in FTX, as well as also declaring assets that aren't even dedicated to the exchange just to paint the false impression that they are ready for bank runs, among others of course. |
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Although I still studied, I invested a small amount in Bitcoin. I will get married if I get a good job. Many people give many things to their wives as wedding gifts, I have a different plan. I am planning to gift bitcoin to my wife on her wedding day. Bitcoin is still illegal in my country so I invested with caution. On my wedding day I want to gift half of my investment to my wife.
Should I gift bitcoin to my wife? I want your advice
Sincerely if you ask me, there are many thing to give ones spouse on a very special day like a wedding day but bitcoin is certainly the least of them. If I may ask does your wife know about Bitcoin? Does she know to trade or store Bitcoin? What does she know about the safest bitcoin wallet? Women treasures physical gifts a lot and there's no better time to wow her than your wedding day or night. My advice for you is to look for something lovely and tangible and present to your wife based on your financial strength and the bitcoin gift can come later. Although I'm on the side of sentimentality here and advising him to actually giving her wife something that holds some sort of emotional value instead of something that she might not even have a stark of idea like bitcoin, I wouldn't really say it's a bad choice like what you're trying to point here. Sure, wedding day, sentimentality, emotions are on an all-time-high outpour but at the same time securing your married future financially is also something that you have to take into account. I wouldn't really give it to her on her wedding day and would only give it to her perhaps some other time but having someone in your life be this thoughtful to give you something that is this cool and future-proof is not so bad, which is I'm with you on that. |
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I have heard this name for the first time in my life despite being in this community (active). So maybe not a big deal but it is because it's crypto, isn't it?
Everything in Crypto is BIG. So a lender called Abra getting insolvent in a bear market, where the biggest of the biggest fall is a big news.
Nah it was a pretty big cryptocurrency exchange/wallet service back in the day, I’ve even seen money remittance centers in my country offering swap to cryptocurrency through the Abra platform, so they hold a lot of relevance. This insolvency however has been predicted way back in the past though, since every other platform remained standing strong whilst Abra barely scrapes by as more and more people switch over to much more popular platforms. Still sucks cause it’s pretty much a good part of the crypto history but at the same time I blame the creators of this platform for their lack of anything to offer besides exchanging and safekeeping, with the latter even becoming out of the question cause this is a centralized exchange we’re talking about and they particularly suck at making sure their user’s coins are safe. |
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Work with what you have not with what you can’t as they say. Which in this case points you elsewhere. If you’re really shooting to offer such a service (and I have high hopes for you) I don’t think dtaying in a third-world country is the way to do it either. So you might wanna look into moving to a different country and starting your hitcoin pizza journey there as well as other important stuff revolving around your life.
It’s one option, and one that takes a lot of balls to do so mind you. But if this is something you’re really stoked about that you’re willing to so whatever it takes to claim your win, then I suggest you push for it yeah?
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This is an opinion piece. 85% of AI start-ups will fail within 3 years. Link to article. That's what they have said. But what do we think. We use the internet everyday and may even be using one or two AI tools to help us become organized, productive and efficient. Hundreds of AI start-ups are spring up everywhere everyday - while some are jumping in without due diligence some, some are doing it for the money while some others what to make an impact. The AI startups boom is compared to the dot-com bubble where a lot of them failed. Some AI start-ups are: Open AI, Frame AI, Jasper, Drafter AI, Smartly.ai. What do you think, are we experiencing an AI startup boom like the dot-com bubble? And do you think that 85% of them will fail within 3 years? I think there's basis as to why this is the case. For one, the AI industry is not only infantile to the point where not a single one of these companies have made a relatively perfect form of artificial intelligence, and I doubt this would happen within our lifetimes but this apparent immaturity of the industry makes all of these companies try out stuff that would linger to the public. Think of it as the smartphone era with all the wacky features that old phones used to have like projectors and even infrared cameras, but with AI and for the most niche use-case. Besides that, AI uses so much computational power it's astonishingly stupid. Like the power it takes to just run ChatGPT takes its creators millions of dollars per week (correct me if I'm wrong) just to make sure everything is neat and working. And since startups solely rely on pooled funding and I guess crowdfunding as well, you better believe they couldn't and wouldn't be able to deliver what they promise, which obviously leads to their downfall. |
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Suppose we say you're right and SEC is really just pushing for the reform in the Altcoin world (I don't even think it's reform to me this is literally just purge all altcoins), what's going to happen to the rest of the "not shitcoins" spectrum of the altcoin industry? Are they going to be regulated? Are they going to be outright banned/sanctioned? Isn't that a little tyrannical? I need my questions answered since to me, this "targeted" attack isn't so laser-precision as they try to make it out to be, it seems to me that if they were to carry on with this move they'll endanger the future of the industry by outright limiting the altcoins that could operate. Be that as it may shitcoins still drive profit in the industry, so I say we gotta take the good with the bad you know.
Plus even if they did only intend to attack shitcoins and not bitcoins, their attempts had left bitcoin in a pretty precarious state price-wise. It's been sitting pretty nicely in the 27k mark for a while now and then they decided they'd go after binance and coinbase, cause they are selling and allowing unregulated securities to operate, which then lead to bitcoin losing value in a jiffy cause these platforms hold massive influence in the industry.
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I've seen several threads where people preach teaching bitcoin to kids and I've also seen threads where others talked about having some savings(investments) in bitcoin for their kids which is right.
Just as my topic reads, we should stop stressing kids with wanting them do things we didn't meet up doing and at some points getting them mentally stressed.
Please don't get me wrong because I'm typically not against teaching or maybe introducing bitcoin to your kids but I'm on the opinion that rather than bother them with this complicated digital asset (bitcoin) knowing fully well that no matter how much knowledge we have about it, if we don't have the money to buy, then we'll certainly miss out, and judging from this, I don't think it's wise teaching them or wanting to force it on them when we know that they can't afford it.
I will suggest that, rather than bore them with the history of bitcoin, why not get a portfolio for them and keep investing in it and watch it grow with them and when they're of age, then you can practically show them the needful.
I want to know if there are people who also share same opinion with me and please lets just discuss rather than argue
You're seeing this the wrong way dude. Nobody out there's gonna rub bitcoin over their kid's face just to make sure the kid knows how to work with bitcoin and what it is. That much is known amongst the people in this forum. What they are advocating for is just the bare minimum, letting kids know there's something that is as monumental as bitcoin, give them the opportunity to use it first-handedly without losing their own cash in the process, and basically set them up for success should they see bitcoin as a worthy investment/venture. No one's out there lecturing their kids chalk on one hand slapping stick on the other what bitcoin is and who the fuck Satoshi is. You're literally supposing as if kids are getting the short end of the stick in this situation when it's a win-win for them cause hello, when done right bitcoin is a lifetime investment that will set you up for success. |
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Yes!
you got the topic very correct and I do mean it because after my last thread, I was actually wondering the essences of having all the knowledge about bitcoin and cryptocurrency at large and still don't have the money to buy, I just feel its a waste of effort and such a person with all his knowledge will definitely miss out of the opportunities in bitcoin and I'm on the opinion that people still need to always have some form of money at all time to buy bitcoin especially at every instance a dip arises and I want to know the essence of wanting to crowd ones brain Brain with so much about bitcoin when such a person doesn't have any more to buy rather than seeking ways to buy?
Knowledge without application is knowledge wasted, but if all you think about in the application department is "the profits" then you've got it all wrong dude. Not every endeavor you take should be about money, there are other much more important things at life, and not everything should revolve around money. Even the very act of presenting and being active in this forum shouldn't always be about money (I know I'm wearing a signature, deal with it), Although I'm open to hear about your reasoning why you think "not earning anything from what you do is a complete waste of effort." Profits are one thing to look for but it shouldn't be the main thing you're looking for especially since bitcoin is a multi-faceted venture with a lot of stuff to offer besides giving you money. |
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This is not the first time bitcoin is experiencing price drop, it only needs few time; months or years to correct and hit another ATH. Few years back many investors took the loss and cashed out their money, believing that bitcoin settled for lesser price. Don't be in such a hurry to move out your investment; bitcoin is falling in price so that it can rise up again. Below is a tweet of a bitcoin investor 12 years ago, that should encourage people to hodl and hope for the best in the market. I know some will never sell, when it hits a high price, but for profits purposes there's no gain in withdrawing an investment now that the price is below or slightly above the amount you bought in the market. Unless you depend on the funds for survival or for other important dispute, keep holding on. Tom only had to wait for 6 years to meet the 2017 pump; a long time indeed! Isn't the wait worth it?  Photo @RizzoOne image can speak louder than 1000 words. (even though this image contains words) I really enjoy your reference. I guess millions of people have "suffered" from similar thinking and actions. It's generally the same story: - you are in Bitcoin for quick gains and get cold hands as soon as things don't pan out the way you imagined. Because you don't understand the tech, you are likely to become a victim of buy-high-sell-low-action. - you came here because you swallowed the orange pill. You are intrigued by the technology, you are intrigued by how the fiat world used to fool you and by how Bitcoin can help us overcome the dependency on central institutions, including banks and governments. You will hodl and stay relaxed when Bitcoin drops by 66% for the second time within a year. To sum things up, try to get really educated about Bitcoin. Education is key to not lose your money because of stupid, uninformed decision-making. To the uneducated, the sudden spikes in bitcoin's price is generally blindsiding, since it usually just takes a couple months before bitcoin reaches record breaking all-time-highs during bull runs, which is the reason why people fall for the buy-high sell-low trap. I've been there, a couple of us have been there. It's something that you come to realize as you grow in the industry. This is not to say you can't make quick cash all the time in this industry. We have day trading to thank for that. So for those who are really looking to gain quick bucks here I suggest you go learn yourself a couple trading basics and fundamentals. And if you're on the other hand more on the HODL side of things, I suggest you follow through with it. FUD is eternal and no matter rain or shine it will always happen in the cryptocurrency industry, but the profits come to those who are patient and smart enough to know that FUD can only do so much to whittle the feelings of people. I don't mean this supporting statement to be as inspirational cause I think we got to be a little realistic here but the reality of things is that bitcoin is cyclical, you just have to be patient. |
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Bitcoin's in its little own ecosystem, nothing but direct economic factors and allegations flung straight against it will cause bitcoin to lose value. With that being said, Binance is one of the biggest gateway exchanges out there for newbies to use and learn the basics of crypto from, thanks to their user-friendly interface foremost, and their nifty tutorials and masterclass lessons they willingly offer for free. Binance going down might cause bitcoin to lose or stagnate in value for a while, since a lot of hopeful bitcoin newbies will lose their access to bitcoin and other cryptocurrency, but at the same time given enough time Bitcoin will bounce back on its own and will recover soon. So it's not like it would cause bitcoin's demise if Binance couldn't make it against their fight with SEC.
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Why hasn't just straight up said "we would decline to use this" and moved on?
It's literally a thought experiment how else is it going to work. Currency A people are given Currency A to use whether they like it or not and Currency B people can only use Currency B. Differing inflation rates across different social class to find out who the real culprit for inflation is. It can't be any simpler than that. I mean its simple that we would see Elon Musk type of people trying to prove to the world that they are currency B type of people and have no money at all. Look at him even right now, he literally sold his house and bought a tiny house just to "prove" that he doesn't care about being rich, then spent 40+ billion on twitter just to prove a point, which he failed to be honest but that's how being rich works.
In the end, we should be looking into this situation a bit more carefully, it wouldn't work, we would reject it as society, people at currency B will want to look like they are rich and act as if they are currency A, and people at Currency A will make it look like they are poor and use B, that's not going to work. Can we maybe stop using Elon Musk as the standard for everything? The guy's a total dumbass and he clearly has no idea of how to handle himself and his company. It's so obnoxious at this point. Plus it was literally said that people can't interchange currencies what part of the thought experiment telling you that currency A people could only use currency A and nothing else do you not understand? It's literally painted in all colors in front of you so as to not cause any confusion and you still managed to mess your whole notion. |
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This so-called measure has several benefits and drawbacks. The elder employees can benefit from their years of experience if they are retained on the job for longer, which is one advantage. The drawback of this is that many workplaces will report low performance because there is an inverse relationship between a person's success at work and their deterioration in cognitive and physical capacities. Regardless, what I think is that the government shouldn't shove it down the throat of people. Workers who are approaching retirement age should be given a choice after appraisal to keep working or retire. What sense does this make? Would you agree or disagree? Do we only look at work productivity to determine if a plan is something that is great or not? I don't think so. This plan is great as it is because not only does it give these old people a little more chance to work and put food on their table especially now when things are a little hard to deal with and the government's not really reliable. At the same time this gives them more opportunities to live a more fulfilling retirement life. Work productivity will not be inversely affected by this change as you have to consider the fact that the percentages of people on their 62 applying for work is not only low, but exceedingly impractical for companies to hire, not only over the fact that they are already old, but also because they are only legally allowed to serve the company 2 years. Plus the fact that there are also young people that are getting hired every year. So all in all this is a great plan, gives those whose old but still capable of working at least 2 more years to provide for themselves, and ultimately allows them to live fulfilling retirement days. |
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Overprinting of money which leads to the devaluation of a currency is just an aftereffect. There's countless reasons why inflation happens. For one, we have the piggy-back spenders which still account for a hefty percentage of people. One must know that money that doesn't circulate is still money and is not devoid of value, but there has to be enough currency going around in order to facilitate the economy of the whole nation so printing money happens.
With the premise you have made I don't think it's going to stop inflation, What it's going to do is profile which of the two groups spend the most and save the most, which test group withholds their money supply, leading to more money being printed all because they wanna be rich in this new economy you just proposed and realized, and which of these test group's spending the most of their money. I think you already know the answer and right from the get-go one would think it's the rich that's causing inflation to happen cause they save up all their money in hopes of becoming rich with it someday, which is severely true in our current society if you'll ask me.
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