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It's a shame that you can no longer find many similar stories that are actually truthful and honest. From what others have already mentioned, judging by your post history, you're not close to acquiring a whole Bitcoin, and this may be a mere attempt to receive attention and be congratulated by other reputable members of this community. I believe you'd be better off if you actually shared an honest story regarding your Bitcoin journey.
I recently started a thread claiming, with financial and statistical evidence, that the possibility of me owning a whole Bitcoin is almost nonexistent, but I'm fine with that. Your goals regarding life and cryptocurrencies shouldn't be to acquire 1 Bitcoin, etc.; then what? Instead, aim for something more meaningful and realistic.
I'm not too much into goal setting; I'm aiming to hold my Bitcoin for long enough that it's profitable and to acquire 0.25 BTC by the end of the year, or at least until early 2024, which in my opinion is far more realistic and achievable than aiming for 0.50 or 1 BTC.
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The prediction is also in line with my expectations. I'm pretty sure the price will surpass $100K, not without difficulty and after several attempts, and then I'd like to think it will go much higher, but I'm a bit more bearish like hugeblack, I think it will stay in the mid-100s. The bad thing is that I remember all the predictions for the current cycle that also gave over $100K and some well beyond and it doesn't give me a good feeling, but let's hope that next cycle we finally pass the $100K mark, which is the most logical scenario.
Okay, I'm not implying the opposite; it's very probable that it'll surpass $100,000 at some point in the distant future. However, coming up with such a bold prediction, which is almost two and a half years away from now, is quite pointless and doubtful to happen. On what data is it based, and how possibly could someone predict such a thing when we're even clueless on how the market progresses till the end of the year, which is less than four months away? On the one hand, I believe that the OP is deliberately overexaggerating, but on the other hand, his prediction shouldn't fall far from what he's anticipating. |
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The financial situation has been pretty crap in the past few years; inflation has made everything progressively worse; thus, sometimes I may be tempted to use my Bitcoin. However, my personal preference is to store my Bitcoin somewhere that I don't have access to. Till now, I was away and didn't have access to my computer; I only had my phone; thus, even if I wanted to, I had no means to use them. In all seriousness now, honestly, if it's a matter of life and death, and you're in desperate need of money, use your Bitcoin by all means; you haven't signed a contract to hold them forever. I completely understand that you might be holding out for the future, but that doesn't have to set your needs back if it's absolutely necessary.
If you store bitcoins out of reach, you risk missing the moment when they can be traded profitably and waiting for the cryptocurrency crisis to start again. Availability should always be there. The other thing is a theory, but you have your concerns. I'm planning to hold long-term for over a year, or even more, two, three years, who knows, I'm not in any hurry. As I've said earlier, I'm not in a dire need of money, not yet at least and I can still afford to do that. Thus, I'm not going to miss any trading opportunities, Bitcoin won't magically recover to $60,000 that I might be interested in selling at. It's a slow and steady process that takes a lot of time and when that time comes, I'll have my coins on hand. Till then, I don't see why should I make my coins more accessible. It's safer the way it is. Hey, you do you. At the end of the day, it is your bitcoin, it is your property and it should be your decision how you will handle it. If you feel and think that your coins should stay where they are now is the best way to do then go ahead, no one knows your financial capacity and state more than you do. And I agree with you, Bitcoin and the system is a slow and steady process, we all want to make a profit off it after all. I'm suggesting that having no direct access to your Bitcoin might be a feasible solution to avoid using it when you're faced with a challenge. Generally, I'm not blaming anyone for selling; it's a personal choice, and I'm not the one to judge someone else's financial choices. In my opinion, there's a pattern here by a small percentage of users that points the finger at those who might be selling during the bear market. It's understandable to anticipate that Bitcoin recovers, but I'd like to remind others that there are no guarantees, and even though statistics show that it's probable to recover soon, we might go through a tough period before that happens. |
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Unfortunately, the majority of new coins are a complete gamble because a great number of them serve no purpose or are scam coins based on the pump and dump scheme. Generally, you'll need to read their whitepaper, see what the project's goals are, and most importantly, are they feasible, or are we talking about a panacea that can't be implemented in the real world? Are the developers organized, and is there a community that supports this project? All these questions play a vital role in determining if a new coin is worth investing in.
I'm not really into altcoins and investing in new projects because I can't bother researching if it's worth it or not; thus, I tend to stick to Bitcoin. However, Binance recently listed SEI and Cyber, both of which look promising, and I decided to involve myself in farming them. Binance also usually lists projects that aren't scam schemes, so you may want to be on the lookout for any other coins that might enter their launchpad.
BTC is the benchmark in this field! The reason why Binance has fewer scam projects is because of their strict vetting mechanism but also because of the expensive fees (scam projects, maybe he doesn't need to do a scam if there's enough money -lol). Apart from the expensive fees, Binance has some requirements that need to be met in order for them to promote a new coin and ultimately list it. That doesn't necessarily mean that every new coin that is listed on Binance is worthy of investing in, but at least some of the research and work you would have done yourself has already been done by a corporation. On top of that, Binance, due to its promotions, creates a short hype when a coin is released. If you have participated in their presale or during their farming period through their launchpad, chances are that its launch will be hyped, something that you can take advantage of. |
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If a coin introduces a completely new technology that enables a different function and is sustainable in the long term, does it have the potential to be a worthwhile investment?
There is never an easy answer to this one otherwise everyone would nail it. You really need to either do an insane amount of research or just gamble and know there is a good chance you might lose all of that investment. Start following smart people amd check our their recommendations and go from there. Unfortunately, the majority of new coins are a complete gamble because a great number of them serve no purpose or are scam coins based on the pump and dump scheme. Generally, you'll need to read their whitepaper, see what the project's goals are, and most importantly, are they feasible, or are we talking about a panacea that can't be implemented in the real world? Are the developers organized, and is there a community that supports this project? All these questions play a vital role in determining if a new coin is worth investing in. I'm not really into altcoins and investing in new projects because I can't bother researching if it's worth it or not; thus, I tend to stick to Bitcoin. However, Binance recently listed SEI and Cyber, both of which look promising, and I decided to involve myself in farming them. Binance also usually lists projects that aren't scam schemes, so you may want to be on the lookout for any other coins that might enter their launchpad. |
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It is rare to see Bitcoin crash like this nowadays, so it is a no-brainer that we should take advantage of this opportunity. Imagine if we get in this price range a month after BTC started to show recovery and after a halving bullish trend takes place, it would be a huge profit when Bitcoin breaks its ATH and we happen to sell at those prices. We can then reaccumulate after the market transition to a bearish trend.
Rare? I believe that we're pretty used to go through market crashes, unless you're implying about the latest period of low volatility. Sadly there is always a weak hand among the holder and they are always the first ones to sell once the market become unfavorable. Little that they know, they don't lose anything as long as they don't sell at a loss.
It's not necessarily people with weak hands, I believe that a large number of transactions are made by traders, not people who were holding and are simply dumping their coins because they're intimidated by the crash. Moreover, we can't deem everything as an opportunity. Don't get me wrong, Bitcoin used to be at $30,000 a few days ago and now it's down to $26,000~, it's definitely a great discount to take advantage of, but my point is that opportunities cannot often be speculated. Tomorrow its price could be even lower. DCA is the best option in such cases. |
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Faucets were around for many many years and if it wasn’t for the abuse in 2017, many would still be around today.
Back in 2015 or so you could go to a gambling dice site and get like 1000 sats for free. If you lost it all then claim it again and again and again, basically all you had to do was wait a few minutes between the claiming.
From 1000 sats to 100,000 sats was easy to do with a few lucky rolls and no risk. Many did this in 2015-16 until they had to put an end to it in 2017 due to the abuse.
They were abused, and it certainly didn't help their sustainability. However, I don't believe that it was what caused them to shut down as an "industry". People simply lost interest, I believe mainly due to the payout amounts, which were a few satoshi at best, and, as others have already mentioned, a large number of the users who were frequent users of faucets were people with low purchasing power; thus, advertisers were pretty much at a loss. The only one that's still going is Freebitco.in, which has turned into a gambling platform. I highly doubt that anyone uses their platform solely as a faucet anymore. |
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The financial situation has been pretty crap in the past few years; inflation has made everything progressively worse; thus, sometimes I may be tempted to use my Bitcoin. However, my personal preference is to store my Bitcoin somewhere that I don't have access to. Till now, I was away and didn't have access to my computer; I only had my phone; thus, even if I wanted to, I had no means to use them. In all seriousness now, honestly, if it's a matter of life and death, and you're in desperate need of money, use your Bitcoin by all means; you haven't signed a contract to hold them forever. I completely understand that you might be holding out for the future, but that doesn't have to set your needs back if it's absolutely necessary.
If you store bitcoins out of reach, you risk missing the moment when they can be traded profitably and waiting for the cryptocurrency crisis to start again. Availability should always be there. The other thing is a theory, but you have your concerns. I'm planning to hold long-term for over a year, or even more, two, three years, who knows, I'm not in any hurry. As I've said earlier, I'm not in a dire need of money, not yet at least and I can still afford to do that. Thus, I'm not going to miss any trading opportunities, Bitcoin won't magically recover to $60,000 that I might be interested in selling at. It's a slow and steady process that takes a lot of time and when that time comes, I'll have my coins on hand. Till then, I don't see why should I make my coins more accessible. It's safer the way it is. |
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Faucets used to be extremely popular during the early days of Bitcoin because, for the majority of us, it was the starting point. On top of that, Bitcoin was worth way less back then, and it wasn't seen as an investment as much as it is now. Thus, they were paying tremendous amounts of BTC, which were then worth a few pennies at most. It was actually my starting point for cryptocurrencies as well, from which I managed to accumulate a relatively decent amount of BTC for today's standards, some of which I held until a few years ago.
Nowadays, the majority of Bitcoin faucets have shut down because people lost interest in them because the payout was extremely insignificant. On top of that, most faucets were kept running through donations and advertisements, and since Bitcoin was considered a valuable asset, people stopped donating, and as I've mentioned earlier, people lost interest in them; thus, ad revenue was pretty much nonexistent. FreeBitco.in is still functioning but paying as little as 2 satoshi per roll; thus, it's a waste of time.
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The financial situation has been pretty crap in the past few years; inflation has made everything progressively worse; thus, sometimes I may be tempted to use my Bitcoin. However, my personal preference is to store my Bitcoin somewhere that I don't have access to. Till now, I was away and didn't have access to my computer; I only had my phone; thus, even if I wanted to, I had no means to use them. In all seriousness now, honestly, if it's a matter of life and death, and you're in desperate need of money, use your Bitcoin by all means; you haven't signed a contract to hold them forever. I completely understand that you might be holding out for the future, but that doesn't have to set your needs back if it's absolutely necessary.
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Is there a way to check the validity of the source? I'm seeing quite a few users suggesting that it isn't accurate and that it's practically old news. Although even if that happened, I find it doubtful to believe that SpaceX caused such a major crash, as Bitcoin has been losing value in the past one or two days. This major dip today, however, has been the icing on the cake. I do believe, however, that if their coins were actually sold, it would deteriorate an already existing situation, as Bitcoin is currently trending at $26,500, something that I wasn't expecting to see. I'm frustrated if we're about to see a major downfall in the market for the remainder of 2023. |
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Why must you use an application for that? May I recommend the good ol' Google search by simply heading over to the "News" section and searching what you're looking for? In this particular scenario, Bitcoin will simply present you with a handful of the latest articles from many different news websites, all accumulated in one simple search. I don't believe you need anything more than that, and it's much more convenient and versatile than visiting a specific website that may even be biased when I'm looking to read the latest news regarding a specific coin or incident.
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Bitcoin's supply is still 21 million bitcoins, it doesn't decrease with each halving, to be precise, mining is becoming more and more difficult. You guys always emphasize the supply but forget to mention the demand of bitcoin. Supply is limited but demand does not increase, then the price will never increase, supply is not the only factor for bitcoin to increase in price if there is no demand. We should judge the value of bitcoin by looking at supply and demand, we shouldn't focus too much on the halving, what if the bitcoin price doesn't increase after the halving?
OK, so tell my why there shouldn't be a demand for bitcoin. It works pretty much like digital gold and is currently the best store of value out there, because it's the first and the only decentralized way to hold money. Every other thing is limited, requires a third party, or like gold is hard to carry around and sell. Bitcoin is simply the best and if you give people time, more and more will get to understand this. Even if we ignore the above, bitcoin was trading at above $40k for almost a whole year in 2021. Why shouldn't it be like that in the future? You're looking at 30k right now but in reality going from 30 to 35 requires very low amount of money when compared to how much people put in stocks. A single billionaire investing in bitcoin could get us above 30k today and there's a lot of billionaires in the world. What does it mean after the halving? Do you mean a month? A year? It's mathematically impossible for bitcoin to stay flat below 30k despite the halving. It either goes up to 40k or it dies and goes to 1k and eventually below, but for that the blockchain would have to fail somehow. As long as bitcoin works it's going up. That's correct; I also don't see any valid reason for Bitcoin not to surpass $30,000. I understand that the OP is possibly concerned about the current crash in the market, with Bitcoin's worth at $27,900 as we speak, as we were used to it being stable during, the past few months. It is said to be the period with the lowest volatility since 2016. However, as you've also mentioned, Bitcoin was being traded at over $40,000 for over a year, while not long ago, probably less than a month ago, it had reached the price of $31,000. To sum up, it's statistically impossible not to see a recovery somewhere within 2024. |
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the thing with old projects is that they just don't have as much potential, they've drained all their potential when they are still relatively considered new coins.
nowadays i think you can witness some of the old coins which have the glory in previous bullrun cycle losing their value and market capitalisation massively and getting replaced by newer coins.
the only coins that could holding on and thrive until now are those with real utility like ethereum, the other? not so much.
thats why nowadays so many people are always choosing new coins, same with staking, if someone is seeking that massive return, new coins is the way to go.
abandoned old coins no longer have any power because some of the old coins don't develop properly. There will be no more innovation and there will be little volume in the end. Unlike the old Ethereum coin which was the top altcoin which until now has good development and is also the center of the development of new emerging chains. Apart from ethereum, I usually choose BNB because it is the biggest token exchange at the moment, namely Binance, with a lot of innovation and BNB is very much needed. Finding great returns on new coins will not be easy. many new coins end up in scams, scams and it will be very risky, it takes in-depth research for new coins to be followed. Established coins such as BNB and Ethereum don't offer great returns if they're not paired with another coin, which is expected because both options are extremely well established and pose minimal risks. Thus, your best option out there is to stake a combination of an old coin with another coin or token that, chances are, isn't as well-known or as safe. These coins are usually mentioned as "Innovations" by Binance's investment products; I'm not sure if this term is actually used outside of their platform. The newly launched SEI and Cyber, for instance, offer great returns on Binance, ranging between 15% and 20% APY, which is great and certainly won't last long, and I'm trying to take full advantage of it. |
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Most of the previous users mentioned why you should avoid the Atomic wallet; thus, I'm not going to repeat that. Staking is generally a decent way to earn a semi-passive income, and I'm saying semi instead of solely passive because it still requires constant monitoring and the occasional switch between the available or profitable vaults. 22% is actually great and won't last long, but you'll receive reasonable yields for as long as it lasts. Keep in mind that usually, the higher the APY, the higher the risk, while you should also take into account the possible impermanent loss. Impermanent loss is when you're yielding coins but they're losing value, which, if it's at a high rate, means you'll end up losing more than you earn.
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You have really done a great work OP,and your uncle has also taken his time to think and convince himself about adopting bitcoin. One thing is that people don't just rush into investing if they don't have the idea of what bitcoin is and this is why when you talk about bitcoin to some people,they would not show any interest because it is hard for someone to accept bitcoin easily without doubt. Buying bitcoin needs preparation of one's mind to take the risk of buying since the newbie has little knowledge on bitcoin. I know that your uncle will be happy with you for introducing him to bit coin soon. I hope you taught him how to use a noncustodial wallet to keep his coins for safety.
One thing I have noticed so far is that we don't have to try too hard to convince people to invest in Bitcoin because any attempt of forcing people or trying too hard to invite people and they finally make losses will lead to a big disagreement and they will blame you that you are responsible for there loses. Bitcoin investment is something that we don't need to force people to invest in at all. We need to allow then to make there own choices so if any thing happens along the way, you will not be accused of anything. People can either decided to sell there holdings when the market is down and that might make people to blame us for there loses which is nit do. Enough understand and tutoring is important to show people the way to be a good Bitcoin investors. It is what it is. Personally, I've met and talked to quite a few people who are either indifferent about Bitcoin or completely against it. I'm not going to even attempt to convince either of them that Bitcoin is a worthwhile investment that will ultimately pay off. Chances are that the majority won't even care to do their own research because they've already formed their opinion based on someone else's or something they read. Thus, spending time to persuade them of the opposite is up to no good. On top of that, I don't actually care what others believe; Bitcoin has been around for quite a while. Those who believe it's worth investing will hop on the train; the rest will simply miss it. Not my problem. |
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I don't want to be the bearer of bad news, like it was suggested by another user, but while it's a positive thing that unemployment is low, the cost of living has increased so much due to inflation that it's pretty much unbearable in some countries. Thus, the ideal would be not only to have low unemployment rates but also a higher minimum wage, with which you'd be able to live quite comfortably. However, this isn't always possible, at least not yet, and we should focus on the positive, not the negative. This is an important stepping stone towards achieving a better economy for everybody. Till then, we should focus on ourselves, acquire new skills, and become a better version of ourselves.
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If your first encounter with crypto was a scam altcoin, it doesn't mean you should wash your hand off of crypto. If you're still interested in it, learn from that bad situation and gain more experience from it.
Many have acquired wealth with some of these altcoins while some have totally been discouraged by them and left cryptocurrency entirely all because they have been once disappointed, i wouldn't blame the crypto projects but the investors themselves because if they had known the risk ad required information needed on those coins they wouldn't have invested on them, the worst mistake a newbie can do is to begin his career in cryptocurrency with altcoins. the mistake that people are making in the Crypto world is as a result of nit getting enough information about the market already. Cryptocurrency is very sensitive because it involves finance which is one thing that makes it so risky because any wrong decision can lead to lose if fund. Cryptocurrency has both the hard part and soft part and any wrong mistake can cause total lose of fund. Many newbies are falling into the wrong projects because of lack of genuine information. It is very important as investors and traders to ensure that we make scrupulous research that can help us in making the wrong decisions. Not exactly; the issue with a large group of people entering the cryptocurrency scene is that they think it's a get-rich-quick scheme. This statement is certainly not true; cryptocurrencies are not a panacea that yields x500 gains on a daily basis. Yes, some people got rich because they had Bitcoin stored and forgotten since 2012; some others benefited from pump and dump coins, but there are also plenty of others that lost a ton of money. Cryptocurrencies are now becoming a trend, just like the stock market. A few decades ago, people also thought they could become wealthy quickly. As the thread suggests, life isn't that simple, and not everything goes according to plan. Unfortunately, I'm pretty sure the majority of us wouldn't make the same choices if we had the opportunity to alter the past, and I'm not only talking about Bitcoin or cryptocurrencies here, but also important life choices such as studies, residence, occupation, and so on. |
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What is clear, they do it to get profits and some other benefits. Listing coins or tokens on Binance is not cheap. Actually, the origin of a new token or coin that is listed on Binance can be considered quite serious because we may know a little about the description of the listing price there. So if they are promoting new tokens or coins, that is only part of the service they offer. Usually, the project will be hype there, this is one that new projects are looking for.
And on the other hand, whether it's truly legit or shit coins, it's clear that if the tokens or coins are ultimately unable to survive, they will also delist those tokens or coins. So that quality control on this one exchange is not so easy.
Certainly, crap or scam coins aren't easily listed on Binance, not only because they require an extravagant amount of money but also because they need to meet certain requirements. That perhaps means that these coins are relatively valid projects with a probable cause, which could maybe deem them decent investment opportunities. We understand that it is the duty of binance to list coins because it is their business and from coin listing they will make their money. That is not a problem to the creator of the topic. But what I understood is that the topic creator is being anxious to understand while apart from listing the coin, binance goes further to promote such coins and also offer air drops and farm such coins. This means the owners of such a project paid more than money for listing. They must have entered into some kind of closed door partnership with binance and pay more money in order for their token to be hyped.
I cannot categorically accuse binance, but I know since everything is centralised. There are some kind of secret deal or conspiracy behind the scene which one of the reasons SEC is mad at them.
I don't really mind Binance doing this, as I'm not really after altcoins. My only involvement with altcoins is through Binance's promotions, BNB, in which I've invested, and some LTC, because I believe that it's showing potential. My thought is that these projects that are being promoted are at least somewhat legit to be let into Binance, and I'm hoping that they at least do some background checks to verify that they're not scam coins. Binance profits from almost everything it does, and if you're in the finance business, it's all about profitability. They are very selective in their start-up projects and choose good projects, while they are listing, of course, not all of them, but usually they come out of the launchpads via binance and have made plenty of x projects. They don't collaborate with unpopular projects. plays like it should CZ
Right, the startup business is pretty similar, the startups that manage to receive funding are only a few out of hundreds of projects. Something similar perhaps occurs on Binance with token listings. |
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Many people dream of being able to work in large companies such as Apple, Microsoft, Google, Visa and so on, but we must be aware that if we work in a large company then we are required to give all our time and abilities for them, this makes us never think Another thing, for example, finding a source of income because he feels that working there has got everything and when retiring, most people will regret.
The problem is that large companies can easily lay off many people at the same time during a crisis. After all, at any moment - thanks to a well-promoted brand - they can hire as many new people as they want. Therefore, working for a large company does not guarantee stability That's not the point here; whether we like it or not, such companies generate thousands of job opportunities, which is a vital addition to our economy, at least for individuals. I'm certainly not promoting them. Stability doesn't exist in our world anymore. Back to the stablecoin's topic: I don't understand why some act so surprised; what were you expecting? PayPal itself is known for unexpected account closures and the freezing of funds. Even I had my money frozen but faced no difficulties in unblocking it; apart from that, I had no issues, and they have saved me a couple of times. This also applies to all centralized exchanges and services, such as online wallets. Even USDT is capable of freezing someone's funds; correct me if I'm wrong, but I remember reading it somewhere. Most stablecoins are regulated; unless we're talking about algorithmic ones, why would PayPal's be any different? If you don't like it, you don't have to use it; there are a handful of other options out there. |
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