The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
For me, the only thing that I believe stops people from keeping or HODLing their Bitcoin is not having financial sustenance for other things you have to do in your daily livelihood just like the same applies to keeping money in your bank account. If you have the financial means to take care of other means then the need to sell your BTC wouldn't arise just like the need to withdraw your fiat savings wouldn't arise. |
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Please don't let my question cause so much hate on me but rather let's also be realistic at times.
Though I haven't invested a reasonable sum in Bitcoin, I've at some point after watching how the market and price of Bitcoin fell from over $60k to less than $12k something similar to what altcoins do and it prompted some questions like
1. Will Bitcoin ever fall to zero someday?
2. What happens if it ever falls to zero?
It will be if this questions are answered without sentiment as I'm open to learn.
First of all, You have to get your facts right, Bitcoins price didn't fall to less than $12k as you said.  You can clearly see that the lowest from the last ATH was still above $15k or maybe you want to show me something else. Falling to Zero!!! I believe there have been some other posts that have asked the same question in the past and my guess still remains, I don't think the BTC price will go to Zero. There have been many fud that would have recked BTC and brought the price to zero but that has not happened or maybe some programming issues someday which I don't think will happen either. |
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CEX deserves all the hates it getting now but doesn't mean it has also not been helpful to bitcoin and crypto space.
I know that most issues that affected bitcoin and crypto space as a whole was mainly from Centralise exchange in 2022 but that can't just make us stop using it instead we should be more cautious on the centralise exchange we use and since the whole issues happened , Government are going to strengthen the regulation of centralise and there will be more transparency from the exchange to their customers, especially with regards to custody of customers assets and proof of reserves .
Apart from the from this issues CEX has really helped in increasing bitcoin and crypto investors because most investors are not scared of buying coins from them because they are too many crypto scammers online and I myself got scammed last year,After that I come to the conclusion that if not CEX am not buying any coin.
Though I buy from CEX but I am always careful on the one's I use and I also use binance p2p. Some of the trusted one's are :
Binance
Coinbase
Kucoin
Kraken
Bybit
There are definitely others and they may be better than this I listed but this are the ones I have used
After the whole issues of FTX my advice is though buying from CEX is safer but storing all your funds there should be avoided and for holders just stick with DEX.
Truth be told, I don't even have any problem with any of the exchanges be it CEXs or DEXs because the main issue as you rightly mentioned is not to hold your crypto assets in the exchanges but again this has limits as well cus people have to trade and this means you need to have it in the change for trading and anything can happen while people have those coins/token in the exchange. Crypto investment is Risky and you must agree to that if you want to get involved, people can even lose access to their own private wallets. |
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Did you maybe read the article, any of the ones you linked? Nowhere is it mentioned that it is ransomware, nor that any kind of ransom is being demanded, and even if this is miraculously true, do you think that the attacker would demand such an amount in BTC that it would affect the entire crypto market? Even if governments decide to buy BTC, they would certainly not do it on the open market, but would use OTC. They do have a rough idea of what caused it, and it's linked back to this corrupted database file that appeared to be getting uploaded, and then they thought the issue was fixed. All of this goes back to Tuesday afternoon, you know, more than 12 hours before passengers started to really feel the impact. They thought it was fixed. Then they had to go back. They realized they had the same problem, and then they essentially decided to pull the plug and start the system over again. And this is quite an old system, right? It goes back to the '50s.
JOSEPHS: It does. I mean, they are in the process of modernizing it. The issue is with this bad file. And if you've ever tried to attach something to an email that, you know, maybe it was a corrupted file and you just kept hitting the same wall and the person receiving the email wasn't able to open it... I entirely agree with what you said cos I didn't see that too and even though I am not a US citizen I do know that FOX News is nowhere near a friend of the Democrat and I wouldn't be surprised of that alleged allegation of buying Bitcoin to pay the "Hackers" but does this mean all the other government must have done the same too? however, the incidence is quite a coincidence. |
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This is not a limitation of Bitcoin but rather your current situation. You shouldn’t push yourself to learn Bitcoin if you are on the secluded area away from the internet. Investing Bitcoin is not a must if your current situation is not suitable for it. What’s your main goal on studying Bitcoin? To become developer or investors? Because you can buy and hold Bitcoin by just traveling on your capital to buy and store it in your wallet to hold. It doesn’t need to be check most of the time if your main goal is just to invest.
You can also download all the ebooks related to Bitcoin then study offline in your island.
I didn't push my self because their were obstacle that were in the corners storing me. But right now I know nothing is stopping me, and I'll definitely achieve it.
If I may ask the Iceland you live in, is it your original home, or you just moved there with you family for some sort of reasons?
How do you cope with work living in area like that, Or you work from home ?
Now that you have gotten your self a generator which can get you a stable power supply, another challenge here will be petroleum since it took you some years to gather up funds to buy the generator how do you intend to buy petroleum on a daily basis.
If I was to be on you shoe I could have chosen a solar inverter rather than that generator, it will cost you a kind of more than that of the generator but after the installation you won't have to worry about Petroleum again, and since it's just for the purpose of Bitcoin learning and investment, you won't need much power so it will serve you more...
You should also be aware that Bitcoin investment won't give you instant profit, Incase you have fast ROI in mind.
My advice Learn you strategy well before you start your investment so that you don't get disappointed at any point.
My home town where I live. Solar is much expensive. But I can be able to afford petrol atleast 3 hours daily. I believe you have done pretty well considering you have been able to solve the major problem of your Bitcoin cream which is power by getting that Generator and I believe access to the internet is not an option. That said, understanding the market is a big deal so it is equally important as some have mentioned to get materials that will teach you about Bitcoin and the market sentiment. |
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I can see that the Bitcoin will Rise Now soon. it is better to buy some more Bitcoin , thinking where to buy from ?
don't worry you can find a good exchange.
 I know some people will still wait for Bitcoin to continue to gain in price before they even consider buying in because they fear it is still not time to buy. BTC was at $15k+ back in November and has gained +$7k from that time and some will say now is a good time to buy, well you are right and I also believe anytime is a good time depending on how long you are willing to hold but buying when the market is more bloody and fearful is better and with regards to Exchanges, also depends on what type of person you are, are you willing to do kyc or not? so DEXs and CEXs are there to choose from as @mk4 also mentioned. |
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There are talks among the world's major central banks to begin the creation of their own digital currencies (Central Bank Digital Currencies for that matter). The launch of Bitcoin, and the widespread popularity of "De-Fi", has led governments to act fast before they're left behind the game. They know they can't beat Bitcoin, so they will try to be in-par with it by launching digital currencies of their own. The average person won't notice any difference with the new digital cash system, as everything would be the same as using a credit/debit card. I'm beginning to question whenever CBDCs will be able to replace paper money for good, or will it co-exist with the old system? After all, credit/debit cards didn't manage to replace paper money when they launched. For being in the 21st century, I'd say paper money should be phased out as soon as possible. Everything should turn digital, as we live in a digital society. How long do you think it will take for paper money to be phased out for good? Will CBDCs be able to replace not only paper money but also credit/debit cards? Your input will be greatly appreciated. Thank you.  I believe so far from this Central Bank Digital Currency (CBDC) Traker site, we can see that up till 2022 as was reported  only 11 countries have actually launched the CBDC and some have even canceled that idea while others are on different faces with it when you filter by each title. However, I don't think adopting CBDC was meant to totally displace the paper money, maybe reduce its use as is the case with Nigeria now where the Federal Government along with Central Bank just redesigned the Naira and has also limited the total amount printed in order to boost the use of Digital financing like the e-Niara along with the limited paper Naira available. |
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WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
If after bitcoin is widely accepted around the world and bitcoin retains its volatility, then I don't think too much will change for me. I will continue to accumulate and invest in bitcoin and will probably use it to pay for a place that accepts bitcoin. In my opinion, bitcoin adoption globally is going to happen soon, but I do not believe bitcoin adoption will become legal tender globally, that is just not going to happen, they are two completely different concepts. I however believe that Bitcoin global adoption has already happened but "not going to happen soon" as you said. I don't believe that Bitcoin is not known globally and has also been HODL and traded globally which to me means, it is adopted globally. However, I believe OP was thinking of a Global legal tender for Bitcoin which might not happen, going by the definition of legal tender cos I don't see the Global Government adopting Bitcoin over their Currencies. |
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I've been in this crypto space for a while now and there is this mentality instilled in people that seems selling ones coin is bad and one is heading to failure which is very wrong at least from my perspective.
I've always been on the track that investing in Bitcoin simply means buying low and selling high, which I think is one of the keys to success in the crypto Industry. I always tell people that the moment you buy at a certain price and it starts rising possibly to a price that you feel ok and contented with, then you should feel free and confident to sell atleast to get the profit first and always use stop loss just incase the price drops, rather than having a little portion of Bitcoin and letting it get liquidated just because you want to preach and prove HODLing, trying not to feel odd.
So my question is:
~ Do people hodl just because others are HODLing?
~ Why do people hodl rather than sell and buy again when low
~ What is your major reason for HODLing and how do your survive the bear market?
I agree with you but I see this in two folds. You are either a HODLER or a Day Trader but either way, I still agree to not hodlin forever while you could have sold at ATH for long-term HODLERs and buy back when the market must have dropped below - 75% to -80% for me and repeat the process and for day traders which I am not good at, I believe traders should have their target price to take profits and use stop loss as you mentioned. You would definitely have to sell at a point to maximize profits which is the essence of investment. |
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One unique feature of Bitcoin is that it always put social media acclaimed "experts" to shame. Sometimes these social media bitcoiners claim mastery over bitcoin. They indiscriminately predict its price as if they invented the coin with Satoshi. Even Satoshi now might not understand the price movement of Bitcoin because the creation is now economically powerful.
Through trial and error, some of them might have been predicted correctly in the past. And they have large followers that believe their analysis and follower their predictions. One social media so-called expert recently shut down his social media platform because he predicted that bitcoin would keep falling until it goes into extinction. It was his followers that attacked him until he forcefully closed his page.
Happy bull run.
I wouldn't call it that yet (Bull Run) because if you took the time to look at the bigger time chart, you would have noticed that the price of Bitcoin has always pumped a bit even while the general market sentiment was in a bear trend. This is normal with price action and the same can be said for when it is a Bull market however with regards to the so-called crypto experts, you rightly said it, they are Predicting meaning, they too are guessing, it might go up or down so people that take those predictions as a hook line and sinker are the ones to blame themselves if they missed the price because they were listening to someone else. |
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Beginners with the mindset of taking crypto trading as a job opportunity: some beginners thinks crypto can cover up the space of getting a job. It is wrong to plan of making cryptocurrency a source of income as a beginner. It is important to have emergency fund while Investing in crypto.
I don't understand the context of this paragraph. Normally, crypto provides jobs for people, if a beginner have got skills like; data analysis, programming, content creation etc, that fits in a cryptocurrency firm looking for his potentials, then its not a wrong move if he applies and gets employed. And he/she doesn't need cash to get employed. The only investment required here is time which matters in every field. It would be better if you specified what part of cryptocurrency a beginner shouldn't take as a job opportunity. Like I did above. You are right. The problem is OP only sees opportunity in cryptocurrency in terms of investing or Buying crypto coins/tokens and forgets that there are people behind every other aspect of the industry and it is not only related to trading crypto. However, beginners thinking crypto is a get-rich-quick avenue is indeed the biggest mistake most make even though you can be lucky making your first investment and making good profits from it due to investing at the right time e.g during a Bull run as was my case back in 2017 and I have so far learned that usually isn't the case as do many others. |
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*Buy at intervals because of any possible variable.
Buying BTC through using dca is good and more convenient for investors, it aids an investor to control the volatility of BTC, and in my humble opinion it prevents naive investors from investing more than they can afford to lose in one lump sum purchase. Read more about dca in the link above. and observable is the absence of a support team unlike their centralized counterpart. That be the case, what are:
1. The recurring mistakes that could lead to loss of funds?
2. How can these mistakes be avoided. Since it seems like the only remedy. These risks in decentralized exchanges are the same as the risk of sending BTC from your own non-custodial wallet to somebody else. If you use Binance 'fake' p2p for example, Binance in this case act as the intermediary and you hand over funds to them for the trade to be completed, that is why i call it 'fake' p2p, because there is a presence of a third party, do not think it is risk free too, there is also a possibility of a 'counterparty' risk, which may not only come from the 2nd party in the trade, but Binance themselves as they can confiscate your funds anytime and ask for more personal documents from you. A friendly reminder as well is that centralized support do not solve all the problems you run into when using their service.
In Decentralized exchanges there isn't any third party intermediary, you are sending funds directly to the 2nd party in the trade, that is exactly how the BTC network works, so you have to be careful and take responsibility as is expected of BTC users; before using decentralized you should read tutorials that will help you understand how to use them well. In the BTC network, lost funds are irreversible because the network does not work like a bank that is controlled by a central body, so decentralized exchanges not having a dedicated support team isn't a disadvantage because that's how the network operates, if you want to use a decentralized network and have self custody of funds do not expect too much handholding in it. Regardless of whether it is "fake p2p" I believe both systems work as long as you do not hodl your Bitcoin in the exchange wallet which I believe is the bigger risk here. For the centralized exchange, I think the exchange being an intermediary is good because they help to guarantee your transaction, holding the crypto asset until you confirm receipt of funds and vice versa which I believe will not make one party unwilling to release their own end of the transaction after receiving from the other. As for DEX, I also believe that this mechanism is built into the system too because if not, we know humans of today, once they receive payment, might not want to release assets. Personally, I have used both and have never run into any issues with either one. |
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Hello Crypto Fam. So, the FSB has released a recommendation on stablecoin regulation. They are doubting the notion that stablecoins are "stable," arguing that issuers lack the necessary tools to keep their stablecoin peg at all times, implying that no stablecoin currently meets their recommendations. This is what they said about it: “Most existing stablecoin issuers promise (implicitly or explicitly) to maintain a stable value, typically relative to a single fiat currency. However, many of these existing stablecoins are issued by unregistered and unlicensed entities and do not have credible mechanisms to support their promise of price stability.” What do you guys think about this? Would you recommend the use of stablecoins or they just aren't worth the risk? Original source of the story: https://tokenist.com/fsb-says-no-stablecoin-currently-passes-its-recommendations/I treat all cryptocurrencies the same. I understand that we all look to stablecoins when the market is dipping to save our overall portfolio value but I however believe that even stablecoins are not totally safe from crashing either just like every other crypto. After all, they are projects setups like other crypto and for some reason can crash like them too. |
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We can see the price of Bitcoin is going down gradually but no one wants to understand it depends on your stock market it is also a digital currency through digital transactions and it is currently in bad condition Elon Musk said in 1 reply on Twitter. Bitcoin is as cold as winter you have to wait for this of course bitcoin price may go up at the end of this winter so be patient everyone. So if we all wait and if we all hold on to what we have, it's going to get $30,000 to $40,000 by the middle of the year and get to a very good price and it could get to a hundred if we hold it tight, so everybody's disappointed. Let's save Bitcoin by holding instead.
Elon Musk said what  , the market downtrend condition and all the Fud that comes with it shouldn't be a surprise to anyone that has been paying attention to all previous market circles. Yes, Elon once had a strong influence on the market at a point but I really don't see that much effect going forward, and which middle of the year are you talking about? I am guessing 2023 and could even be above that. The bottom line is, Bitcoin will definitely recover whether it will take the previous four-year circle or less is unsure. |
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Cathie wood tells bloomberg she thinks 1 bitcoin will worth a million dollars by 2030
very doubtful that's going to happen unless all the countries of the world get rid of their fiat and just use bitcoin. but most country seem more interest in developing their own digital currencies than giving up control to bitcoin.  I don't think it might not be doubtful as you said but, I do think it is not because until all the countries of the world get rid of their fiat. Bitcoin didn't need that to get to its last ATH of $69k from the bottom of Bitcoins price years ago and will get there also in the future without the world getting rid of its fiat because most people and bigger institutions see Bitcoin first as an Investment now than what it was originally meant to be and if this will continue to be the case plus BTC limited supply, a $1million price is inevitable but whether this will be by 2030 about 8 years from now is a question of time will tell. |
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There were money before fiat came to existence, fiat brought more power to government to control. Gold and some other items have been used as money since centuries ago and they are still money. What is more important is that only fiat price is controlled, but the money in the past were all just like bitcoin which their prices are because of their demand and supply.
So you are invariably saying that Bitcoin is like the rest of the money types that the world had in previous years and as you mentioned, fiat is the one that has given power to the Government the most to control the citizens and just this morning, I was watching a local news channel correspondence in UK talking about the FTX issue and what it means and how some UK Government officials are calling for a more regulated Crypto space. So with all this, it could be said that, while most of us that understand crypto investment will continue to support Bitcoin but we can not believe that fiat will totally disappear from the system. |
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Bitcoin was the first decentralized cryptocurrency, which first released as an open-source software in 2009 but didn't reach public attention.
Now, crypto education becomes a priority for world-class education institutions such as University of the Cumberlands (United Kingdom), University of the West of England (United Kingdom), University of Toronto (Canada), University of Warwick (United Kingdom), University of Waterloo (Canada), University of Westminster (United Kingdom), etc.
Learning cryptocurrency will attract you towards the digital world and internet technology. It will prepare you for the future, since digital world is here to stay, and technology is progressing and evolving rapidly.
Is it time for the whole world to embrace, adapt, add it in educational curriculum and teach cryptocurrency to the youth?
I believe whether a cryptocurrency will be adopted into educational curricula globally cannot be ascertained yet because we know that there are countries where cryptocurrency is still not legal even for trading however, people have taken it upon themselves for decades ago learning about cryptocurrency/the blockchain even before now just from it awareness and I also believe as some most have mentioned, this new education in some university across mostly Europe, for now, could mainly be about the Blockchain Technology than just crypto. |
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This thinking is not wise at all, so what will happen if you need money for something urgent, such as unexpected bills, a family visit, a sudden accident, torrential rains, a hurricane and other environmental conditions, a fire near you?
You should invest in bitcoin money that you are not afraid of losing and not everything you own.
You should leave enough money for several months ahead.
Thanks, man. I am thinking that OP has all his daily needs bought out via Bitcoin cos every regular store/market accepts Bitcoin in his/her location. We are all for Bitcoin trust me and you never know how much each of us has invested in Bitcoin, I know I have but we cannot take away the fact that 99% of our daily costs are still paid for in fiat in my location at least regardless of the economic hardship we are going through. It is sad that we are seeing this inflation situation decrease the value of the fiat across the globe but it is what it is and we need to have those cash in hand or the Bank. |
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The cryptocurrency market has been going through a panic for several days now. There are many wise knowledgeable members who are always advising to be careful with cryptocurrencies. Yesterday the admin of the forum issued a red alert Here, asking those who have cryptocurrencies in online wallets to transfer them to personal decentralized wallets as soon as possible. All these members are giving all these warnings on cryptocurrencies without understanding some signals in advance. So what do we understand the general public? Is the cryptocurrency market headed for destruction or can we expect something bigger to come? Or do we have any other options other than we the common people to slow down like turtles and be patient?  I believe Theymos wanted to remind all about what they, the OGs in the space have continued to say on many occasions, "Not your Keys, Not your Coins" and the FTX exchange issue just further reemphasize that. Many people still leave their crypto assets in their exchange wallet and a lot of it too, if you can afford that much then you can afford a hardware wallet plus these hardware wallets aren't really that complicated. |
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