To me the biggest challenge in Bitcoin is that its value can't be objectively estimated, so there's no guarantee that it will not lose 99% of its value. With other assets like real estate or stocks you can look at the demand, look at the factor that will influence it, look at supply, etc. With Bitcoin supply is fixed and demand in completely unknown. We can see the daily number of transactions on blockchain, but we have no idea how many of those transactions are payments for goods and services, and how many is just arbitrage trading or some other activity that is useless to society and thus isn't creating Bitcoin's value.

If a lot of bitcoin hodlers only wait to dump the coins in the future, that could create a scenario where Bitcoin market is just a big long tulip mania.

Everyone knows that most day traders of any asset are losing money in the long term, because there is no reliable method of predicting short-term price. And investing in Bitcoin for long term can't even be classified as side hustle, because it doesn't require much effort - just buy Bitcoin, set up a wallet and wait for years. Side hustle is something that you spend maybe 5-10 hours per week at least, and with Bitcoin investment you don't need to do that.

Bitcoin only changed lives of a small number of early adopters who sold for massive profit, otherwise it's not being used daily by anyone. And of course it didn't do anything to poverty on a global scale, or even on a scale of one small country like El Salvador.

And governments are not afraid of Bitcoin, why would they be afraid of something that nobody uses as a currency? They could so easily destroy the Bitcoin market by just banning centralized exchanges, yet they didn't do this, ask yourself why.

Musk is a clown. He says that it's unfair for workers who can't work from home, but who gave him the right to speak on behalf of those people? He's not even citing any polls, just talking out of his own entitled ass. And I'm pretty sure he doesn't even believe in that, he just tries to appeal to the masses, while his real reason why he hates work from home is because he believes in some twisted ideology that says that people must work a lot to earn money, and if they not, then they are cheating. Which is ironic, because he himself would be nobody if not for his family's wealth that allowed him to buy companies that became successful - Musk himself is not very talented.

You are talking about cryptocurrency and Bitcoin as if its the same thing. But there are thousands of cryptocurrencies and only one Bitcoin, and Bitcoin is different from all of them because it has developers who actually develop it, while for altcoin developers their coin is just a way to make millions quick.

Altcoins have some similarities with ponzi schemes. They promise to eventually deliver some working product that will be popular, but they don't plan to actually do that. And the profit of early "investors" comes from the investment of late investors, who get burned when there's no more new investors. And the people who profit the most are the creators of a coin who own a large part of the pre-mined supply.

So, most cryptocurrencies can be loosely described as decentralized ponzi schemes.

The current holders are not selling now, but they will be tempted when the price reaches the peak of the previous cycle or if it will surpass it. People who massively profit from holding Bitcoin need to sell it to realize their profits. You can point out to examples of people selling houses or cars for BTC, but if you go to a house or car market, 99.9% of deals could not be paid with Bitcoin. So whenever price goes up, therre's a massive downward pressure caused by people who want to actually spend their money instead of hoarding it until they die.

Bitcoin can only become a safe haven if enough people truly believe that it is a safe haven. If majority of holders are just traders who buy and sell it all the time, then it won't have any such properties, it will be crashing hard because dumping when the crash is just starting is a smart thing to do, even at a loss, as you will rebuy later at the bottom.

And I have a feeling that many of the people who are publicly saying that Bitcoin will protect them from inflation don't actually believe in that, they just try to pump their investment so they can dump it at higher price.

Nothing was created as an asset, there no such thing as pure asset, an asset is just something with a highly liquid value.


Bitcoin will never be as stable as fiat currency, because fiat is being intentionally stabilized by central banks. They participate on foreign exchange markets and dump their own currency if it goes up too fast, or buy it if it falls too fast. This helps them to generally reduce volatility to fractions of percent per day. Obviously it's impossible with Bitcoin and at best we will see volatility levels similar to gold.


Bitcoin protocol still follows the core values and there's no sign that it will change. It's the community that became diluted with "investors" instead of "cypherpunks".

Bitcoin is not a commodity, because Bitcoin is not being consumed, it is a fiat currency - a currency with no intrinsic value and no use cases other than being a currency. Ethereum is more like a commodity, because it is used to pay fees on Ethereum network, which is used for decentralized applications. But it also tries to be a currency and a security.

The rest of the coins can be classified as gambling or ponzi schemes, because they don't have any real life use cases, only empty promises for luring investors. And it's pretty bad that people "invest" in them, hoping to get rich quick, but only end up losing money most of the time.

Trading is not a money making method, it's more like gambling. There is no proven strategy that would allow you to be in profit in the long run. The only strategy that has been working well so far is buy and hodl for at least 2-3 years, but that's not trading, it's long term speculative investment.

Mining can be quite profitable, but you need to have access to cheap electricity, you need to have some money to invest in equipment and run the operation, you need to deal with legal risks, because in many parts of the world mining without permission would get you into trouble. And lastly, mining comes with a risk - the price can fall and your operation will become unprofitable.

Also, stay away from cloud mining, it's a 100% scam.

Bitcoin journey doesn't have to be trading or mining or sig campaigns or bitcoin business. You can just earn fiat money and buy Bitcoin with them.

Like it or not, there's no other way. Big blocks/faster block times would instantly turn Bitcoin into a digital bank owned by a few entities who would be able to censor transactions, because only large entities with datacenters would be able to afford to run full nodes that require terabytes of data per day. It's really just simple math - to have the same scalability as Visa you need the same infrastructure as Visa. Lightning is the only clever workaround around that.

Bitcoin is still not the digital gold. It fails to show the proparty of gold of growing when economy or stock market suffers. Sometimes Bitcoin goes up when that happens, sometimes it goes down.

Bitcoin's value is unclear. Gold is trusted by everyone. Bitcoin is only trusted by a small percentage of total population, and the trend of increase is very small. It's also unclear just how much the people who own Bitcoin trust it, or whether they treat it as a speculative investment that should be dumped if it fails to perform. This all makes Bitcoin future very uncertain.

People lose their wealth not because of lack of financial education, but because they don't have any common sense. You don't need to study to understand that if you spend more than you earn, you will become broke. People who have unsustainable spending habits just don't have basic self-control.

But I would say 1M is better than financial education, because financial education won't teach you how to make 1M, it can only teach you how to preserve it and grow it, but it won't help you get from zero to hero.

Do we really need child-oriented Bitcoin content? Kids don't earn money, and don't often make payments, they most likely won't be using it until they grow up. And Bitcoin's complexity in terms of use is way to high for children - they can easily fall victims of scams or malware and lose whatever coins they parents gave them.

Your title says "addresses" and you post says "wallets", so which is it? I have a wallet with over 1 BTC, yet my coins are spread across multiple addresses, so I don't have a single address with >1 BTC. I probably never had such address, even in the earlier days, when the price was lower, because back then I was moving my coins a lot.

Also, the addresses with >1 BTC could belong not to single users, but to organizations that hold someone else's coins.

There are old accounts that barely earned any merit yet hold high ranks. Those users are complete shitposters despite technically being high rank.

Also, rank simply means having a lot of merit, and merit is not awarded strictly for being helpful. People on local boards, meta board and megathreads like wall observer generously shower each other in merit for very simple posts.

There are outstanding users with deep knowledge who earned thousands of merits, but people with hundreds of merits often just earned it by posting something that others agree with.

Ranking system's purpose is to reduce spam on the forum by making new users impossible to rank up if their posts are low quality.

The coins that will crash because of government regulation deserve to fall, because it would mean that they are just ponzi schemes. I'm sure Bitcoin will not crash if exchanges will get more regulated, because Bitcoin itself is not being targeted and nothing about its fundamentals will change.

This isn't the US government trying to kill crypto. If they wanted to do it, they would just ban all financial institutions from dealing with crypto exchanges and crypto market would be dead in the US.

If they are anti- a lot of things, then they are not against government control of the population, they just want it to be their control, not their opponents'. He's against CBDC because they are being proposed by Biden's team, if it was coming from Trump's team, he would be 100% supporting it. In the US ideology is just a political tool for winning votes, politicians don't believe in what they say.

Remember how a few years ago Trump bashed Bitcoin because he viewed it as competition for the US dollar? If Republicans will decide that CBDC can stregthen the US dollar, they will support it.

If a kidnapping happens, the attackers will likely get what they want anyway. Plus they have to know what to look for, and keeping seed in memory is pretty uncommon.

The best way to deal with kidnapping is to keep low profile and have good physical security. There is no storage method that is immune from such attack.

I stopped doing it daily a long time ago, especially when I stopped looking at Bitcoin price and Bitcoin news all the time. These days I can go weeks without reciting my seed, and I still remember it, but this is dangerous, because if I'll go a few months without refershing my memory, I'll probably forget big chunks of it. That's why memorizing should be viewed as an optional bonus and not a part of overall seed storage.