As long as these institutional investors aren't participating in the actual market that are the bitcoin exchanges (about 10 of them) they can not change that much about the trend. If for example newbies on Coinbase, Bitstamp, Kraken, Huobi, Gemeni,... panic sell then the price will crash no matter how many institutional investors are buying off the exchanges in their own little centralized companies.
That's the same with rising, that is also why I have been saying that the effects of institutional investors is not as big as people are making it to be.
They might not have THAT much of a significant effect compared to something like a whale buying up a huge amount of coins on spot exchanges, but I'd say institutions taking out a huge chunk of BTC out of circulation also has a notable effect; but it's definitely not something we would sort of "feel" immediately. |
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People still invest in BTC and other cryptocurrencies without really knowing what it's all about, but that may not even matter.
Because it doesn't really matter. As much as people hate FOMO and panic sellers(but mostly panic sellers), both will always exist in any free market, and should be totally expected if you have at least basic knowledge on how markets work. |
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I personally think there's a slight chance that the percentage drop after the peak won't be as high as we had in the past.
I really don't want to be the "this time it's different!" kind of guy(because it almost always doesn't end well), I think there might be a sliiight chance that it might be the case; as assuming that there's a significant amount of money of institutional investors in bitcoin right now(and continue to flood in), it's safe to assume that they aren't the "panic seller" kind of investor like how most of retail is.
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Well, now buying even from official Ledger store isn't completely safe after these database leaks.
To be fair though, the same could also happen to Trezor if they aren't careful. There's always risks with AML/KYC with literally any platform, not only with Ledger. |
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I bought inventory for my online business with my bitcoin back in 2016, when bitcoin was still at around $700. Looking back, since my profit margins were only like 30%, I definitely could've earned A LOT more money if I just held, knowing that we're now in the $33k+ range.
Regardless though, even though I should've just used my fiat savings, the knowledge I've earned from starting that business(SEO, advertising, etc) was worth far more than the profit I could've earned by just holding bitcoin.
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You do realize that bitcoin rising in price is totally inevitable when it gains mass adoption, right? Also, when an asset rises in price, in some(or most) cases retail investors get too excited and flood in impulsively. The same also happens in stocks and in other assets. You know why? That's how markets work. 🤷♂️
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Do we know that the anonymity of bitcoin is a problem?
Let's all think about this
Some of us here do day to day transactions and we know that our identities are not known, and since our identities are not know some use that as an opportunity to purchase illegal stuffs and and do illegal things because we are safe with the knowledge "The don't know our identity"
Fun fact: Bitcoin isn't even anonymous, only pseudo-anonymous. There's a significant difference. And the good ol' "buying illegal stuff" part. Bitcoin is money, and money is a tool. People will always use whatever tool or technology for nefarious stuff. e.g. - Hammers and crowbars for killing people
- Cars and motorcycles to be used as getaway vehicles
- Social media to stalk people
- The internet in general to steal money and identities
- The U.S. Dollar to buy illegal drugs and to pay for hitmen
and the list goes on and on and on.. |
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We have no idea if he's male or female; and Satoshi might even be a group. Mostly the assumption is just that Satoshi is male, because Satoshi is apparently a name mostly given to dudes. Seriously. Bring your "feminism" somewhere else lol.  https://en.wikipedia.org/wiki/Satoshi |
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10 years? Heck, throw everything you have on bitcoin right now, time travel 30 years into the future, and go buy yourself a city/s
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The total bitcoin in circulation is actually growing, not decreasing. It's the bitcoin being mined that's decreasing due to the halving(a.k.a. halvening) events every 4 years. Today, 900 bitcoin are being mined per day(6.25 every block), adding up to the total circulating supply. After the next halving, this will be cut down in half, once again slowing down the bitcoin being added into circulation. https://www.blockchain.com/charts/total-bitcoinshttps://www.thehalvening.com/ |
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Unfortunate. Hopefully whoever you've spent the medical bills on is totally fine now.
With that said, chin up. Do you think the current price of $31,000 is the price peak of bitcoin? If not and if you want to get your stack back(at least a percentage of it), go do something about it. Get a job, start a business, learn a new skill that you can use to monetize, etc. It's easier said than done for sure, but you ain't going to move forward by just being sad about it, only actually doing something about it will.
I wish you the best of luck moving forward.
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Overall, while I made money trading bitcoin(and other cryptocurrencies), I've honestly could've made A LOT more money if I simply held my bitcoin and dollar-cost averaged, and just put all my focus on creating businesses. While I'm not going to demotivate anyone to do trading, it simply isn't for everyone. Most people are simply better doing something else for money.
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I'm not saying that the BitBox02 is bad, but personally I would only use hardware wallets(or wallets in general) that already has numerous reviews; hence, the only wallets that would be in my personal recommendation list would be Ledger, Trezor, and Coldcard. Mostly though, for the masses, my recommendation would be Ledger and Trezor due to them being a lot more noob-friendly, and Coldcard for the more 'techier' crowd as it's a lot more inconvenient to use, in exchange for it being more sort of "trustless".
If you're really interested in it, go ahead and do more research. I haven't really heard of anything bad about it (though I haven't heard of anything good about it either lol).
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Besides Binance.com, I like using Huobi Global. Haven't had any problems as of yet, but it's been almost a year since I've used it so do your due diligence. I heard people who use binance.com in the US... then moved on to binance.us... which is basically almost the same thing? Its only with other us traders right? But is there a ton of volume there? And do they have the exact coins that are traded in binance.com?
Binance.us has far less market liquidity(obviously since it has far less users) and far less trading pairs. You can check them out here: Binance: https://coinmarketcap.com/exchanges/binance/Binance.US: https://coinmarketcap.com/exchanges/binance-us/The thing though is i wouldn't be able to use binance.US while outside the US right? I would sign up for an account while abroad... so would there be issue with this?
I think you're allowed to use Binance.US regardless where you are right now, as long as you're a US citizen. |
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Never heard of Bluewallet since I'm using electrum for almost 4 years already. Just gonna ask if Bluewallet has lesser fee compare to Electrum? I've got a trezor way back then but it was not working very well for me so I decided to get back on Electrum again.
Fees should be the same, though BlueWallet supports lightning so it's going to be pretty handy if you end up needing to do a LN transaction. As for Trezor, especially if you have a good amount of funds, I definitely suggest using it. With Electrum or any other software wallet, your wallet's private keys could potentially get leaked(if it hasn't been leaked already). Better safe than sorry! |
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I personally recommend you to use coinbase wallet. It is one of the best wallet to me although it is a centralized wallet. Veteran bitcoin users does not want to advice people to use a third party wallet because it is against the purpose of bitcoin. Though, I find that coinbase has a cheap fee with an astonishing services that they provide. Moreover, you can hold variety of coins in this wallet.
I have not made a research on any real mobile bitcoin wallet. But I believe that it will consume a big fee when you make a transaction
Coinbase in a transacting perspective is only great because of the fact that Coinbase<->Coinbase transactions are free. Beyond that? Nope. But if you're fine with the possibility that you lose everything if ever Coinbase gets hacked in the future, then go ahead. https://NotYourKeys.org/ |
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Apparently, it seems like when people say something like " I'll wait for a dip", they're waiting for something like $3000 lmao. And when 'if' it actually comes(I think it's highly unlikely in this case), they'll be like " I'll wait for it to drop more". Quick lesson: Just dollar-cost average, ladies and gentlemen. https://dcabtc.com/ |
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I've stopped caring about an ETF a while back haha after all the attempts and the SEC just swatting them away like flies.
Same. I was pretty hyped at first back then, but due to the number of times that VanEck's ETF proposal has been denied in the past, I was like "whatever" whenever I see news about it. Lately though I've been seeing on Twitter from pretty reputable people(I don't remember who) that this recent proposal has significantly higher likeliness of getting approved. I don't know jack sh*t about ETF proposals though, so no comment about it. |
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