1. Bitcoin will probably make a lot of people rich especially for long term holders... again
2. Bitcoin is the future and bitcoin is the medium of exchange because it is widely accepted, portable, shareable, accessible, commensurate and relatively stable. That's why it will be used as future currency.
3. Bitcoin can save the world
4. Bitcoin is not very easy to understand and there is too much misinformation about it.
5. Bitcoin has spread far, far more than most people know. There are already some of the biggest companies in the world using blockchain technology and some countries actually want to clone bitcoin, because bitcoin is so good.
1. Don't invest with the hope of "getting rich". High chance you will be disappointed and end up regretting when you see the bear market. 2. It is not widely accepted yet and not "relative stable". 3. How? 4. It is easy to understand how to use bitcoin. We don't need to know the ins and outs of it. 5.Clone bitcoin? You mean create their own digital currency? |
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I started a small business on exporting rice in my town. It's been several months and everything is going well.
All my customers are happy with the service. So to make things a bit more interesting, I've decided to accept crypto as a payment method.
I have designed this business card of mine, and I'll be handing over this to my customers.
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In the beginning, I have decided to stick on Binance pay, and BTC payment.
The BTC address is in the QR code on the business card, and also with the PAY ID for Binance.
Universal token transaction will be done through pay ID and BTC could be transferred too.
For those who want to pay with other method, can choose BTC address.
I gave it a good thinking and have implemented this in my business. So I want to know you guy's opinion in this.
Feel free to suggest me more secure options and how to improve this.
Thanks a lot in advance.
Have you thought about all the risks involved when you will be accepting bitcoin? Like others said, not your keys not your coins. What if one day binance decides not to offer services to your country? What if someone sends funds from some addresses that has interacted with black listed addresses? High chance binance might freeze your funds and you will have to go through lots of trouble. Setup your own wallet to accept payments from your clients/customers without depending on thirdparty centralized wallets. |
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Hello guys,
Been searching for prominent trading events, where the effort is worth it. Some platforms used to organise them regularly in the past.
I’m not speaking about faucets or lottery where the rewards are too small and there is no certainty of winning.
I am rather on the hunt for events where I can trade a lot and get rewarded for that, based on my ranking on the leader board or my trading volume or something similar.
I think almost most of the well known exchanges have some sort of competition or events going on. But those are mainly for some newly added/listed coins on their platform and the rewards are also based on those tokens.
And if the rewards are in Bitcoin and not some scammy small cap, this could be a good investment of my time during the bear market.
I doubt this is going to be a "good investment". You have to face a lot of competitors and you have to trade a lot to be on the top. Most likely you will be losing money while trading and on fees. |
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As we all are seeing the launching of new projects one after one. So, one should take care of many things before investing. How to know the real potential of these new projects?
All new projects will come with some sort of risks. If you see a new project and see that the price is going up insanely, high chance it is a scam project and the price is getting pumped by the developers/scammers. The only way to know that a new project is legit and has potential is through doing your own research. Read the whitepaper, try to know about the team, see how strong the community is, see how much focused they are with their project and look for any bs they spit out. Oh also make sure to run as far as you can if you see the community only screaming "to the moon". |
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Singapore will not want to be left behind in the bid to becoming a world class Bitcoin hub and I feel it would be a bit difficult because although they are a Bitcoin friendly country, they have been ravaged by the deadly coronavirus and has affected the growth of their economy. The country has been like an umbrella to companies who have been hiding under regulatory barriers in their state. The Monetary Authority of Singapore have stated their intentions of making the State worthy of being called a hub for crypto investors and make it safe for trader to function without them being scared of losing their coins. A move to releasing a new regulatory plan by MAS against crypto firms are set to begin next month and although there have been stricter regulations prior, the country seemed to have recorded a massive 82 deals with a combined worth at $1.48 billion dollars in 2021. According to TripleA, 82% of the country's 5,230,000 that own BTC hold it, while 39% see it as an investment assets, 25% see it as a store of value and a small 12% see it as money. triple a linkWith a highly developed economy, ranked as the most open in the world and amongst the least corrupt. With all this positives going for them, can they attain the status of being a BTC hub and even becoming a BTC like El Salvador? https://bitcoinmagazine.com/markets/singapores-central-bank-to-release-bitcoin-crypto-regulation What did they mean by "without being scared of losing their coins?". Did they mean that without being scared that their coins will be confiscated or without being scared of literally losing their coins? Either way, both could have been avoided without the government intervening. They are just using this "bitcoin hub" excuse to make cryptocurrencies more centralized in their country. Their "stricter regulations" will only make things more worse for all crypto users. |
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I am little surprised that this scam coin is still up and running. Google Pi coin scam and you will find a list of reasons why this coin is a scam and how it might be mining or stealing your data while you notice nothing. No data can be found and none of the trackers track this coin. So much for transparency.
Still wondering why anyone would be buying it for $0.3 per coins.
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Looking at the scenario (countries) in the world that against the adoption of bitcoin. I am thinking that countries are deliberately stop using bitcoin and other cryptocurrencies or banning them base on their neighbour countries foreign policies. Because the way I look at it, if their neighbour adopt bitcoin and make or generate a massive GDP from the butcoin and used it to developed the country to a standard level, where employment is guaranty in the country. I dont think the neighnour countries would reject the adoption plan of bitcoin, Let take Nigeria and her neighbours as an example. . Now if Nigeria adopt Bitcoin and make great income from it and used it to develop the country to the world standard. Would Ghana, Cameroun, Niger and Chad and other nearby neighbours of Nigeria will reject the use of Bitcoin? Now, on my own, since Bitcoin is a decentralized system which is out of authority control and that make them to reject bitcoin by banning. Once they follow their foreign policies to ban bitcoin, then it become class conspiracy, First of all, bitcoin doesn't "guarantee" employment or else the whole world would adopt bitcoin to eradicate unemployment from the world. And bitcoin also doesn't remove poverty nor does it improves the economy but yeah, it can act (as a catalyst) to make the economy better. I doubt the neighboring countries would ban bitcoin if they see that country is doing very well after making or at least realizing bitcoin as a legal asset. |
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Like you said, it is because of those myth people starts or can't stop gambling. They first start gambling thinking that it is a one time thing and won't get addicted. But somehow they win some bets and becomes addicted to gambling. The adrenaline rush they get is what makes them come back to gambling. And then after few wins, they think that they can actually start making some quick money and get rich over night. They still keep on believing that they aren't addicted because "they can't get addicted to gambling".
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Not just shiba, but there's a dozen different others I think. I tried a couple of them, just to see how they behave in this bear market. To my surprise one of them was 20% in profit last time I checked ( after about a month ) the other one $50 in profit after one day. Not bad !  But to be honest I don't think I would put any money on Doge or Shiba... they're already far too high in the rankings.. way... way higher than they deserve. The best gains are made when your meme coin is ranked #800 or somewhere around there Hundreds of meme coins already existed before Shiba Inu. It is nothing new. It is only people started to realize/notice meme coins after doge coin started to skyrocket. It became a trend when Shiba Inu made incredible gains and people started to invest in those meme coins just to lose everything and get scammed. And no, you don't make best gains when the meme coin is ranked at that number you randomly posted. Any meme coins can reach that number by artificially pumping the price. |
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You don't have to explain them the stuffs about bitcoin. Just show them how bitcoin is used. Teach them how to create a wallet, how to send and receive bitcoin and how to keep their wallets/bitcoins safe. Tell them it's the same as sending/receiving money with Paypal. No need to tell them about the technical stuffs now since all it will do it confuse them and they will end up thinking bitcoin is very complicated. Once they start using bitcoin, I am sure they themselves will start learning more about it.
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Isn't it already a global currency since Bitcoin has no borders? You can send from one end of the world to the other end within few seconds without any problems. No third-party involvement that would slow down the process. The only problem is few countries "banned" the usage of crypto currencies, but I am pretty much sure as more people starts to adopt bitcoin, those countries will be forced to lift the ban or else they will be lagging behind.
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The lesson learned was that it is better to move closer to what is new to us than to be condemning it from afar. Can you imagine that despite having enough money to invest in the cryptocurrency between 2019 -2021, I was adamant that I wouldn't because I believed Bitcoin aids legalities like trafficking, money laundering, terrorism, activities of drug barons, and many more. I forgot to think that as it has its advantages, it also has its disadvantages, no system works perfectly.
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You do know that fiat currency "aids" those criminal activities even more than bitcoin does. Why do you still use your fiat currency? Even stocks, real estates and metals are used to launder money, but I bet you would still invest in those if you have opportunities. Not every system is perfect and there will always be criminals that abuses the system for their advantage. That doesn't mean you would stop using it. |
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Your post seems kind of confusing. What I understood by reading your post is that you are wondering people are holding fiat (in form of bitcoin) because they take all their decisions based on the current fiat value of the bitcoin, right? Well, I would say no. That is not the case. People hold precious metals like gold and stocks. They buy and sell them based on their fiat value. In this case, do you also think that they are holding fiat, not gold and stocks?
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I am mostly a hodler no matter the market going down or up. But sometimes I get the advice to take some profits.
Example: my investment of 300 euro becomes 500 euro. Is it better to take out my initial investment or only take the profit ? And reinvest that profit ?
How do you guys do this ?
I just feel like i'm missing potential profits by not selling and seeing my potential profits go up and down.
How do you take profits? When the market goes up to 500 euro, you take our more than 300 euro from your investment, you already took your profit. Now even if the price falls down, you won't lose anything, since you already covered your initial investment. Anything from now on is only profit. If the price goes up, you are in more profit, if the price falls, you have less profit. Most people reinvest their profits when the price goes down again. |
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I just wonder: are Early Adopters rich?
We know AA, author of "Mastering Bitcoin" was once attacked because he did not made any fortune having BTC from early years, then people donated some BTC and he collected around 100BTC.
Hal F's wife sued "I am Satoshi guy" and they were talking about $ 3-digit mln, so they are not kind of people who wait every month for their wage.
What about others? Bitcoin Core developers? Forum admins or well-known old users? Are they crazy rich living in their own castles or did they lost their coins, sold for $10 because of mortgage loan or student's debt and today they must work 7-15 every day?
You already answered your own question. The early adopters those who were holding their coins are the ones that are super rich now. Obviously they are even if the price isn't no where near the all time high. Look at the chart and see the price of bitcoin back then. But those that sold, forgot or lost their coins are the ones that are working 7-15 every day as usual. The same thing people will be saying after few decades if bitcoin survives. Those who held now are enjoying their lives, those who sold are regretting. |
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You should create a proper thread. We understand that you want bitcoin to "move", you don't have to keep on saying "moving" and the same thing again and again. You can't have the price move a lot everyday. I am not even sure what you mean. If you look at the market, you will see that the price there is always some small change within short period of time. Maybe take advantage of that? And if you are looking for massive volatile coins, then trade some random shitcoins that gets pumped and dumped on a DEX.
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What is your current view on IEO investments for the next quarter? the points you take into consideration when investing in this type of release? What are its perks and benefits?
I would say no difference between an IEO and an ICO. Points to take consideration is which exchange is offering the IEO. If it is a bigger well known exchange, better chances of success and the IEO not being a scam. The perks are the same. There is a chance that you will be making a huge gain in the long run (or within a short period of time) if the project is successful. Another benefit is that since the exchange will be the middle man, things should be easier and safer than usual. |
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Will Ethereum sustain its current bullish trend during and after this merge?
I am more than confident that it will not continue after the merge happens. We have seen events like this multiple times. What is going to happen is that everyone will be hype for the upcoming upgrades and merges. They will all start investing hoping that the price will go up. Some people will FOMO, this will cause the price to be more bullish, once the merge happens, we will see the same trend for few days, and then the hype will drop, things will normalize, correction will take place and the price will drop back to where it should be. |
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Put most of your money in BTC for long term investment. More than half I would suggest. Yeah, ETH is a good choice as an altcoin investment. So you are safe if you are willing to hold long term and want to take less risks.
From the rest of the coins you have mentioned, I have heard of Avalanche and I think it is in one of the top 20 crypto currency list (based on marketcap). Don't know much about it but it has been trending for a while. The rest you mentioned, I haven't heard of any of them. So invest doing your own research. If those are some new altcoins with small marketcap and you believe they will skyrocket soon, invest a little, but don't go all-in. There are other better altcoins that are less risky to hold like ADA, SOL and DOT.
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Challenges
The only down side I have experienced is the price volatility of Bitcoin. This has a huge effect on the business, because you need cash to run the business. Do you convert to fiat immediately or do you hodl the crypto payments you receive? If you choose the latter, how do you keep record of your actual profits? For me, I save my money in USD because of the unstableness of the naira. Accepting crypto payments has been of great benefit to me, crypto doesn't have an off-day like the banks do not work on weekends and the network on weekends are usually terrible, crypto payments saves me the bank trouble.
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I was wondering why the confirmation time wasn't a challenge to you. Do you usually accept transactions without fee? What if someone makes a huge transaction, will you accept their payment with zero network confirmation? What about the fees? What if some customers pay very low fee causing longer confirmation time? Do you set the fee for them? And since you keep the payment in USD, don't you have to pay a conversation fee and mark up fee for any kind of transactions? How does that affect your business? |
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