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It is normal that currency debasement and inflation are not the same thing. Currency debasement is a monetary policy by the central bank to intentionally devalue the currency for many reasons, that can include to reduce the effect of money printing and to improve trade balance among many other reasons. But inflation is a disaster that are not intended for, poor economic handling mostly cause it.
In simplicity, currency debasement affects the currency directly, but inflation affects the goods and services to weaken the purchasing power of the currency.
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In trading, you have to accept that you have to change your strategy because you cannot keep up with the changing market system by applying the same strategy.
You need to clarify this, for I don't see it appropriate, or should I say I see it misleading. I would agree with you if you are referring to having more than one strategy, and then using them interchangeably when one strategy can't read the current market situation. However, if it is about changing your strategy all the time simply because the market doesn't behave the same way, then you are doing yourself no good, as that is called "style drift" in trading. It is not good. What strategy does someone need besides to buy low and sell high? This mindset put me in trouble last year, it is a newbie thinking. I wish it is as easy as said it. With your simple mode, it simplest way to trade, it cannot know when the time is ripe for the low to buy and the high to sell. You will guess them. This is not a strategy, but a pattern. My opinion is that if you are not someone who can affect Bitcoin's price via directly or objectively, then I can't imagine what strategy will help you to profit.
No one can control bitcoin. It doesn't stop speculation. |
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2. access global financial opportunities:
Bitcoin helps Nigerians to do online business, or freelance globally without needing foreign bank accounts or dollar approval.
A lot of people in Nigeria are now working online and in different countries while still based in Nigeria and payment of salary is then made easy, most of us here receive payment from our different campaign through Bitcoin.
To add to what you said, I will never forget the help that Bitcoin helped me when I was trying to pay for domain. As we know, cards payment are the most popular payment in such gateway, but all my Naija payment cards disappointed me, it was a matter of rejection upon rejection. I had to change the domain to pay where Bitcoin is accepted. That was when I was able to complete that payment after weeks of trying. |
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Hearing testimonies from different sources, I can only conclude that "You don’t need to be rich to invest, but you need to invest to be rich." Riches aside, investment can increase your financial freedom, but the problem with most people is procrastination, they want this BIG capital to invest, but it is not like that.
From real estate, stocks to crypto, we have seen people buying their assets that were deem worthless, but suddenly became their source of wealth. I remember someone who couldn't afford a land at the city center but wanted to invest. He bought it at a rural area where he could buy over 1 acre. Not long after, the government decided to build a Federal university in that locality. Right now, a plot of land there can buy a plot of land in the city center that he couldn't afford, that is the power of investing.
It mustn't be convenient, it mustn't be in thousands of dollars, a little that is being consistent about and carefully thought through could make that wealth. Start investing today.
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Many of you may not give an F about this but it is important to me due to what I faced just for buying a domain from Africa.
I tried for weeks to get a card to buy a domain, but it was all rejected. I am sure that if the card was owned by a US or EU citizen, the transaction will be processed itch-free. This makes me abandon the hosting site I wanted to use and searched for the ones that accept Bitcoin.Immediately I sent the payment, it was successful. Thanks to Bitcoin that doesn't discriminate whether you are from Asia, Africa, Europe or US.
Bitcoin recognizes everyone as equally important, as the same.
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This should answer those who were wondering what is happening with BRICS. In their latest summit that was held in Brazil this week the leaders of BRICS nations welcomed a new full member, Indonesia and also welcomed 10 new countries that joined BRICS as partners: Belarus, Bolivia, Kazakhstan, Nigeria, Malaysia, Thailand, Cuba, Vietnam, Uganda, and Uzbekistan. Apparently BRICS now represents roughly half the population and GDP of the entire world  Half the world’s population and still can’t build a working alternative to SWIFT. Sounds more like a geopolitical book club than a real economic bloc. Although BRICS has been around for a while, in the early stages their goal was to develop and boost each other's economies together. But over time, they gradually realized that the world's dependence on the USD had inadvertently given the US supreme power and they were using it indiscriminately. They abuse them for their own benefit, not for the common good of the world as they said before. You made a mistake, the US is not abusing the USD, you can cite an example of how they abuse it for clarity. The US power and dominance over the world economy and political space is difference from the USD itself. If the US is manipulating the USD, it is the same as manipulating the world market, this will be be an abuse that the punishment will be severe, no one would trust the USD again, so they don't dare, the consequence will be dire. But political power and economic dominance? Yes, we can say the US is somewhat flexes muscle on this. It become clearer and annoying during Trump's administration and the reason BRICS was formed to strengthen a rebellious alliance against the US and the USD. Not that the USD is being abused by the US, but to reduce the strong dominance in the world market. Too much power that wants to be diluted is the main goal of de-dollarization. This is fair in every political and economic setting to avoid being overused. |
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you need to understand that Bitcoin isn’t “crypto” , it only looks like crypto on the surface.
Bitcoin is crypto, the difference is that it is unique and was carefully planned and created unlike the imitations we see all around (altcoins) that was thought they were improving on. Bitcoin is the first crypto created, I am glad it retains that precious position and will hold it forever. 2. Hacking: Bitcoin cannot be hacked.
It hasn't been hacked. Not it Cannot be hacked. It's theoretically possible. But the cost outweighs the benefit. Your theory of hackable is an assumption, let it first be hacked before we believe the blockchain can be hacked. Even the quantum computers were concluded that they can't hack Bitcoin blockchain. That's the latest theory, don't let us live in the future. This hedges against inflation and increase financial freedom. This is because of it's scarcity not it's value directly. Does that mean it is not an hedge against inflation and can increase financial freedom? I don't get the reason for your reply. |
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The title question has run through my mind a million times, in the end, the repeated answer is Yes!
Here are why:
1. As pioneer: Bitcoin is a new innovation than any other, the very first blockchain structure wired to function nicely in payment and finance. Such an authentic innovation doesn't die, but stays forever as long as the world remains.
2. Hacking: Bitcoin cannot be hacked.
3. Fairness: The blockchain mechanism ensures fairness among parties, no discouragement.
4. Decentralization: You can own your Bitcoin and have the true possession.
5. Value: Bitcoin is an asset. It has so much value to the point that you can buy it and forget for years to meet huge success goal. This hedges against inflation and increase financial freedom.
6. Intention: Unlike many projects, the intention of the creator was pure, selfless, neutral and genuine. Such system often attracts adopters naturally and give everyone the freedom they deserve.
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This is just a random news I get but people are really talking about it.
I have just read about it not long ago but I have also read somewhere before that by 2030, it is possible that ECDSA becomes vulnerable to quantum computing. This is 2025 which means 2030 is just 5 years away from now.
What do you think about this disturbing news, I have been read more than 5 news about this and I saw another one today. What are bitcoin developers doing about it?
If you need the source that I get today's news from, I can post it which has the the title that I have as the title on this thread.
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Non-custodial wallet or self-custodial wallet. You need to use a correct term.
I know all these terms. You can also call such wallet self-hosted. A self-hosted wallet refers to a type of digital wallet that is hosted and controlled by the user, as opposed to being hosted by a third-party service You can also search for it online to know that I am correct. If possible, storing your backups at different locations.
This will be the best that can be done but I guess that most people will backup the seed phrase someone at there home. It can be in two or more locations but at the same home which is not safe enough. As you will understand, someone who has so many bitcoins is more likely to have several houses or other places where he can hide copies.
But what about someone that does not have several bitcoin, not having more than 1 house and not want to lose his seed phrase? $0.1 BTC may be small to some people but big to some people depending on how rich they are. With your explanation, rich people with more than one house have the advantage. |
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However, from your explanation, there is one thing I want to ask, does that mean we are still safe from quantum computing attacks by using a new wallet or generating a new address on the same seed phrase ?
Anytime you make transaction, your address public key is known already. If quantum computers is able to be used to access bitcoin private key, it will not be through bitcoin address but through the public key. If you used a bitcoin address to receiver bitcoin but you did not send the coin to another address or anyone, the public key can not be known and can not be attacked in the future with the use of the quantum computer. So what d5000 (OP) is saying is that you should move your bitcoin to the address that you have not used to make transaction before so that your public key is not known to anyone but only you. Fees are low now which is a perfect time to transfer the coin to a new address. |
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It is not good to hold your coins on exchanges but hold them on a self-hosted wallet. This brings the responsibility of how not to lose your seed phrase because if you lose your seed phrase you will lose your coins.
If there is a natural disaster that flood your town or an earthquake that destroyed the building your seed phrases are, what are the other recovery means that you have in place for you not to lose your bitcoin?
We should backup the seed phrase in a way that no matter what happened, we should still be to have access to the seeds phrase. What are you approaches to make sure that no matter what happened, you will have access to your seed phrase if you are still alive and your brain is functioning properly.
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Trading is very risky than people think until they are losing and become addicted to trading before they will realize this. Some people have known bitcoin since some years ago but they are still struggling. They are struggling not because they did not have money in the past but just because they are trading. They wanted fast money and they lost and lost several times.
It is better not to trade but hold when the price of bitcoin fall very well but they like quick money. You can gain in trading and later lose your money. Trading is only good for those that are not losing. If you have been trading for some months and losing, stop trading and be patient. When the price of bitcoin fall, you can buy it and hold it instead.
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Russian finance ministry, central bank weigh crypto trading pilot for top-tier investors https://crypto.news/russian-finance-ministry-central-bank-weigh-crypto-trading-pilot-for-top-tier-investors/What kind of news is this? From the news only top-tier investors, with a $250,000 minimum asset holding will be allowed. It is also an experiment which may not take more than 5 years. Ministry of Finance and the Bank of Russia are negotiating about it. When Russians are busy trading cryptocurrencies. This could only mean they have been missing the tax they supposed to have earned. I hope they will begin the experiment and see how positive it will become. |
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People do not want to understand how humans are thinking. They are disappointed about how ethereum has not gone up massively but they forgot to check how natural assets are.
Gold marketcap: 18.8 trillion.
Silver marketcap: $1.8 trillion.
Gold is 10 times higher in marketcap than silver.
The reason I compared the two is gold is the natural asset that has the highest marketcap while silver is the second. This is how people will see bitcoin, ether and other cryptocurrencies. People will prefer bitcoin and buy it instead.
After a long period of time, know that bitcoin will continue to dominate with over 50% dominance but the dominance with ethereum or the second higher crypto by that time will likely get larger.
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It is good to enjoy altcoins when it lasts because most of the existing altcoins do not have long term value like bitcoin.
Just like Official Trump. Have you thought of what will happen to such coin in long term? It will be more about what later happen to Trump.
Bitcoin founder Satoshi Nakamoto is not known to anyone in the world. It is still the coin better for long term holding. Clearly it has been showing this since 2009 that it was created
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These are the lists of states that have proposed bitcoin strategic reserve in United States.
1. California
2. Massachusetts
3. New Hampshire
4. North Dakota
5. Ohio
6. Pennsylvania
7. Texas
8. Wyoming
9. Utah
As more states are proposing it, I will include it on this thread. I will also indicate if the bill about it has been signed and finally approved.
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Some people will think it is too late to buy bitcoin. It is not too late because just 6.8% among the people in the world have both cryptocurrencies. I do not say bitcoin but cryptocurrencies. As of 2024, we estimated global cryptocurrency ownership at an average of 6.8%, with over 560 million crypto owners worldwide. https://www.triple-a.io/cryptocurrency-ownership-dataIs it too late to buy bitcoin? No. Bitcoin is like gold. Still it is not too late to buy bitcoin now because its value continue to increase after a very long time. |
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The bill has been introduced and is expected to be signed. If signed as planned, taxes will become the first state in United States to have bitcoin strategic reserve. He said this would position Texas at the forefront of the digital economy, driving growth and securing economic freedom for our great state. https://x.com/DrSchwertner/status/1879630775835890082?s=19 |
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This is a bill introduced to have a strategic bitcoin reserve for Oklahoma’s state savings accounts and pension funds to invest in digital assets like bitcoin. Maynard said the investments would be managed prudently to meet the needs of fund managers, generate reliable returns for citizens, and safeguard purchasing power against inflationary pressures. He also said the Strategic Bitcoin Reserve Act would ensure Oklahoma is prepared for a future where digital assets play a pivotal role in the global economy https://www.okhouse.gov/posts/news-20250115_1 |
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