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I’ve done really well in cryptocurrency but a lot of that success is just luck that I was early & had the conviction to invest enough to take life changing money. What I would say to anybody new in the game though is that you are always only one coin or investment away from really making it. Don’t be afraid to take a few calculated stabs in the dark because you can make big money in alts.
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A Spot ETF approval(s) would be absolutely bullish for bitcoin. There is no doubt about that. It allows a whole new wave of money to flow into bitcoin which is this far prohibited. The sooner it happen, the better. I think the SEC will approve one before too long due to pressure from respected big names in the world of finance.
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If I am lucky to achieve total financial freedom at some stage I will buy a farm with lots of land. I will grow my own food & eat meat from the animals I rear. I think sometimes stripping it all back & living off grid is the best way, there are so many bad things in the modern world that living the old fashioned way is a nice thought. Financial freedom isn’t Lambo’s & strippers, it’s a large family & three wives on a secluded farm  |
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Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?
I would advise your friend to try anything to find work, even do undesirable jobs if he has to. There is no shame in working, no matter what it’s doing. He could get two jobs if he has to. I would advise him to invest in bitcoin & hold long term but it sounds like he doesn’t have much money & it’s just about staying alive, not investing. Regardless I hope he is doing better now, it’s been a few months since the OP. |
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There will still be significant volatility with bitcoin price as it’s still a relatively young asset, certainly in comparison to the likes of gold. Volatility can be your friend though if you know what you’re doing. Regardless though we are in a good position right now, $30,000 seems to be acting like strong support, hopefully not just psychological support. We have successfully retested it a couple of times now though & we are still above it. I think for the next 2.5 years the trend will be mostly up, I’m looking forward to it.
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Holding bitcoin is one of the smartest decisions a young person can make these days. Fiat currencies are failing, inflation is horribly high. You have to protect your purchasing power & if your time preference investing is 10 years or more then bitcoin is the best investment choice for you. Long term hodling is easy, no pressure & no stress around short term price fluctuations.
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I remember when I passed my driving test 18 years ago, the price per litre of fuel was like 40% cheaper than it is now. House prices continue to rise ridiculously. I don’t see how it can all continue, something is going break & I think it will be the USD as reserve currency. Inflation is running wild, the whole world is screwed. This is why we are here though, bitcoin is here, ready to save us.
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The difficulty with taking advice on which alts to buy is that the less well known ones can be rug pulls. Also everybody who recommends a coin or token is likely being bias so they have an agenda. You just have to do your own research, take snippets of info from others, write pros & cons about each coin/token you read about & tgen just go for it. Obviously don’t go too deep into one coin, diversification is key.
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In America, you can't be tried for the same crime twice.  Double jeopardy? Haha, I have seen the movie with Ashley Judd & De Niro. The plot is similar to the OP’s scenario, maybe something similar would happen in court if it happened in real life? I don’t know, I’m not a legal expert. It’s very interesting though that double jeopardy can exonerate somebody. |
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It’s not strictly limited to crypto. There have been fraudsters & scammers everywhere since money was used as a means of payment. We can go back hundreds of years & read about thieves etc. There have been sophisticated scammers at large since the internet was invented & even before that. Just be smart, if something seems too good to be true then it almost certainly is. There’s no such thing as a free lunch.
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Bitcoin will never be proof of stake, there will be many who will try in the future to change the code or convince others to but this is why bitcoin works so well & why so many in power hate it, they can not control it. Those in power, the elites now have some awareness of bitcoin & what it is. They can not control it & they hate that, they can regulate bitcoin but not control it.
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I definitely agree that this forum is very good for educating yourself on bitcoin. I came here as a clueless noob many years ago, I have picked up so much vital info here that I think I would have struggled without. There are too many people to thank but I agree that this forum is like a college or school.
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I will never use a KYC wallet for my main bitcoin hoardings. I use wallet.dat with a passphrase on Bitcoin Core. Good luck getting me to KYC those coins. I understand exchanges requiring you to do it due to regulatory pressure but always hold your own coins in self custody (nobody else should know anything about those coins).
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If btc is legally accepted in all countries then huge number of investors will increase. and the use of btc in various fields will increase.
what is your opinion about this?
If bitcoin was accepted as a means of payment in every country worldwide & widely used as a means of payment then of course the price would rise, remarkably so. We wee some way away from that becoming a reality but that doesn’t mean it won’t moon in the next couple of years as I believe it will due to other factors. |
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You should buy bitcoin to protect yourself from inflation, to preserve your purchasing power. Fiat currencies are crumbling in front of our eyes. Position yourself for the biggest transfer of wealth in hundreds of years. Make sure you’re on the right side of the development & future of money. Do not get left holding fiat bags.
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I know this is an old thread but I see it’s been bumped. Here we are once again at 30k, remarkable really. Would be really good if we could leave 30k once & for all, pumping into the 40000 area again. I’d even take a pump to 35k. I guess we must have patience, bitcoin always acts like this & just when people get bored, then sell or convert to alts, BOOM breakout. Patience is key, we are due an upwards surge.
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Surely it’s Hunter’s?
Kidding!
Seriously though, it’s not good but it could be anybody. Might not even be a politician that used it. I wouldn’t look too far into it, it isn’t a scandal or anything. Could just be an admin employee or a janitor or something. It’s illegal sure but I don’t think as a nation we need to panic about it.
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It has a much lower market cap than bitcoin, there is low volume & low liquidity quite often with BCH so it’s much easier for people with deep pockets to manipulate the price. I don’t think for one second there is going to be a scenario where we see a BCH vs BTC flippening. If you are invested in BCH enjoy the pump but don’t start dreaming, BTC is the King.
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Seems like good, sound advice to me OP. The best time to buy bitcoin was years ago but the next best time is now. You can take custody of your own money & be your own bank. Inflation is killing our fiat savings so it’s certainly a great idea to diversify into inflation killer bitcoin. You have plenty of time to buy before prices start to rapidly rise after the halving.
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It’s subjective isn’t it. What can be important to oje man can be a waste of time & pointless to another man. Altcoins are important to those who feel they missed out on being early in bitcoin. Some people strike lucky & do even better than bitcoin og’s by buying & riding alts. It’s all personal, if you enjoy alts & they work out well for you, don’t let anybody convince you of anything else.
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