Im kinda on the fence about how to use my bitcoins.  I dont wanna throw them around on dumb little purchases, but I can see why folks dig paying for stuff online with it.  Its easy, private and cheaper than using my credit card half the time. 

But even with me being wishy-washy now, I think bitcoin is gonna blow up bigger someday.  More folks using it, new tech making it better, and people trusting decentralized money systems more - thats why it will scale up.  But who knows though, Ive been wrong before


It depends a lot on the type of cryptocurrency you use. Some cryptos have very low transaction fees.  But even if the fees are higher, paying with crypto can still be more affordable than regular cash payments, particularly for international transfers.  For instance, if you were wiring money abroad through a traditional bank you'd likely get slammed with lofty fees and exchange rates. But with crypto, you can send money directly to another persons wallet at a fraction of that cost.

I gotta ask - whos this we you mention? If we look at the onchain data, seems like plenty of folks are still using Bitcoin for their daily transactions, which is exactly what digital money was meant for.  Saying Bitcoin isnt money is just ignoring the facts, know what I mean?

Stablecoins are just a temporary solution, tied to the stability of fiat currencies. They are inherently vulnerable to the same economic and political risks as traditional banking systems.

Tether is handy for moving dollar value between exchanges when seeking arbitrage opportunities.  Some folks also find it simpler and less expensive to keep assets in stablecoins rather than constantly switching in and out of fiat money and  Im puzzled why this use case isnt intuitive to you.  Stablecoins essentially function as digital dollars within the crypto economy, transferring value without the hassle of traditional banking.  While the merits of Tether specifically can be debated, the concept behind it fills a clear niche.

I understand what the OP is referring to, but I still think its a wrong comparison. True, the USD is the market champion at the moment, because it is backed by a strong economy. But it hasnt always been that way, (remember when everyone thought the British pound was untouchable?) and who is to say that it cant be replaced by another currency in the future? (The euro, for instance, is rapidly gaining ground as a global currency, and its current use is comparable to the dollar... and lets not overlook the seismic shifts in the Chinese market over the years.) 

As for Bitcoin, it is a market champion for entirely different reasons, including its role in the emerging cryptocurrency market and its potential for value appreciation.  Im not saying that it cant be replaced in the distant future, but its current market dominance is undeniable. Other cryptocurrencies are nowhere near its level of influence.

Have you considered the possibility that he simply took some personal time off?  I dont know what the customs are in Bangladesh, but in many parts of the world, now is the time of annual vacations and school holidays, which can also be seen in the forum activity statistics. Perhaps he also took a vacation break?

However, I hope that he is okay and that he and his family are not affected by this disaster.

This is an oversimplification and a fundamentally flawed understanding of how banks work.  Banks dont hold all of their deposits in cash. They invest a portion of it to generate returns.  Do you forget that in a similar way as you left your money in the bank, someone else can request a loan from the same bank? Where do you think that "extra" money is coming from?  And did you know that banks can also receive as well as give loans to other banks?

Your understanding of the banking system is flawed, as its not exactly comparable to using a safety deposit box.

For me, I find trading on my laptop or desktop to be best.  The bigger screens let me easily see charts and indicators compared to trying to squint at my phone.  But sure, if Im out and get a mobile alert or something, Ill pop open my trading app to take a peek or place an order real quick and  i think it just depends when and where you happen to be doing your trading on which device works better.  Like if youre on the go then yeah, pull out your phone to check in.  But if youre able to park somewhere and dig in, then the extra convenience of a big computer screen definitely helps in my experience.

Your argument doesnt quite add up.  Bitcoin and the dollar are fundamentally different and arent really comparable. Bitcoin is a decentralized digital currency without borders.  The dollars a government-backed fiat currency tied to one nation.  But theres a whole world beyond America.   

Im from the Eurozone, for example.  How do dollars affect me when I use euros? There can be multiple successful fiat currencies globally, not just the almighty dollar.

Ive been telling myself that with each new Roobet art competition, I should try producing something.  The Olympics theme is thought provoking, still Im racking my brain for concepts.  Ive been rolling around a couple ideas in my head, but zilch solid so far...

Yeah, I hope more people jump in. It would be awesome to see the different takes on the Olympics. And hey,  if Roobet sticks with these contests, you can bet Ill take a crack at it one of these days.

And what about hardware wallets? I mean, most of the good ones let you set up multiple wallets on the same device, right?  So even if some overzealous customs agent tries to force you to unlock your wallet, you could just show them an empty one. Its like having a secret compartment in your pocket.

Even if your device were confiscated, no one would have a way of knowing that there is a wallet hidden behind a secret passphrase.

I dont think the typical person using your exchange would know how to do this AML checking stuff.  Sure, theres a ton of ways to get so-called tainted crypto that seem shady.  But that dosnt automatically make someone a dishonest user. 

Really, punishing people so harshly for maybe doing something illegal feels too far.

Wouldnt it be better to put out clear rules, or even give them a heads up if you see fishy transfers before dropping the penalties?

There is no definitive directory of businesses accepting cryptocurrency that Im aware of.  Just fragmented lists and forums where folks share their experiences.  Nothing fully comprehensive or up to date. 

You make a fair point - there is certainly an opportunity here.  For example, I know a handful of local online shops that take crypto through localized payment processor.  Doubt they pop up on any radar.  So a crypto-centric Yellow Pages could prove useful.  Gathering that intel systematically to publish in one spot presents challenges however.   

I suppose an enterprising soul could build a crowdsourced database.  Kick things off by listing known examples, then open it up for anyone to add qualifying businesses from their communities.  Verification process would need some rigor to keep things legit. 

Bitcoin's whole deal is being free from control, you know?  No controls or rules or committees telling you what to do with your money.  Im all for it.  but that Wild West feeling means you gotta watch your own back. and  Scams happen.  People lose money.  It blows, but its the price we pay for that freedom.  Just gotta educate yourself so you dont get suckered.  Use your head, trust your gut instinct.  If youre not that type maybe steer clear of crypto and cut your losses.  But for the cowboys out there ready to ride - giddy up!  Theres money to be made if you play it smart and watch the horizon.

Yeah! Its wild how fast our ideas about value can change.  I recall when Bitcoin was just a couple grand.  At the time I thought, no chance, thats nuts!  But in hindsight, I definitely missed the boat on something huge there and  same goes for most stuff though right?  You dont fully get what somethings worth until its unavailable.  I think that applies double to Bitcoin.  But, its not only about the money, but feeling part of this massive phenomenon that wont come around very often.

I feel you, dude.  I was in the same boat for a while there and  it started off innocent enough - just a bit of fun making a couple bucks on the side here and there.  But then that greedy little monster voice started whispering in my ear.  Cmon, you can do this for real.  Imagine the cash you could rake in! So I started making riskier plays - bigger bets with higher stakes.  And for a minute there it looked like my ship had come in.  But we all know how this story ends...  Before I knew it, the wins had dried up but the losses kept piling higher. 

It really is kind of like being on a rollercoaster when you think about it.  One day you are on top of the damn world and the next you are questioning all your life choices like some schmuck on Dr. Phil.  Ive been wracking my brain trying to figure out where it all went wrong.  But if Im being honest, I think a big part of it comes down to head games.  As soon as making bank became priority numero uno over having fun, it was like a switch flipped in my brain.  Between the pressure I put on myself and the desperate chases for the next high, my judgment got all clouded and messy.

Man, what your buddy went through really resonates.  Its wild how greed can take the wheel and muddy up someone's judgment.  I have watched that movie play out one too many times.  Investing, or any type of speculation for that matter, should never amount to betting with your entire life savings (or loans that will haunt your dreams for years to come). 

You are absolutely right.  Having patience pays dividends.  Start small, get the lay of the land, then slowly up your skin in the game as your confidence and knowledge expand.  The market is not going anywhere anytime soon.  No need to try striking it rich quick with some Hail Mary.

These sites are about as legit as a three-legged dog winning a marathon. They are SCAMS.

Take care and dont beat yourself up too bad.  We have all been there one time or another.  But learn from this experience.  If something sounds too good to be true, it absolutely is.  Do your research before you throw your money anywhere.

I think the best approach is to jump right in starting reading stuff.  Dont hesitate to ask new questions or ask for advice if you need any help.

Try to contribute value to the community, and good things will happen.  Keep curious, keep learning new things, and most of all dont post pointless threads or replies.

You will figure it out.

When Bitcoin first hit that crazy high of $73k, I think it took everyone by surprise, even the experts.  At that point, I figured we would be off to the races and new all-time highs before year's end. 

But thats the thing about crypto - its just so unpredictable. And  After that initial surge Bitcoin pulled back and has been bouncing around between $60-$70k for months now.   Will we see another major rally in 2024? I wouldnt bet against it.  Perhaps we take out that $73k high.  Heck, maybe we even push towards $100k.  But then again, maybe we trade sideways for awhile longer before any fireworks.  Wish I had a crystal ball!

Im watching the charts, ready to grab some more if we get a solid correction.  Whether the rally resumes or not, Im playing the long game here and  bitcoin still got a ways to go in my book.  Every peak and valleys a chance to build my stack before the next liftoff.

I think this was already suggested to the OP at some point, but, if I understood correctly, his main fear is that someone will steal his idea once he sees it in action, because it is supposedly so simple and straightforward. So its a classic catch-22 situation. he doesnt want to show or explain his idea, and he wont get any serious offers because he has nothing to show.

To get the ball rolling, he needs to demonstrate his concept, but hes afraid to do so for fear of intellectual property theft. Maybe a compromise could be reached where he shares a simplified version of the idea, without revealing the core mechanics.