As discussed via PM, I'm applying for full member rank:
Name: Xenophoto
Rank: Hero Member
Nexybit ID: xenophoto
Nexybit Exclusive Bitcoin Address: 3AxrtJ8rN49xwpGG9NDn1noFjsmfM7LUxc

A lot of people are not paying taxes these days. People getting paid in cash directly doesn't really submit an honest tax statement because there's no way the government knows how much you're making. Online store owners probably don't pay taxes because whenever you sold something to a friend, do you really add that to your statement? No. When you work online, it's quite hard for them to keep track of you since you are pretty much unemployed in their eyes. A lot of people choose to pay as little tax as possible because this allows them to be listed as an indigent person and they can get benefits from that. There are always pop up stores in the streets, not all of them are paying taxes.

The people who are regularly paying taxes are those that are employed. Even with crypto implemented, it will be the same thing since those records are going to be visible to the government while when you buy and sell something, that record isn't really visible to them. It's going to be the same thing.

tl;dr: People are not paying taxes even now. It's going to be just the same thing since there are transactions that aren't visible to the government's eyes.

But even if you do have a shitty attitude, you can still become rich because of your intelligence. Did you know that most CEOs have a what we consider shitty attitude? They are very logical and doesn't care about your feelings. They want the work to get done and that's their only concern, nothing else. If that means dropping employees all of a sudden, then be it. You can get to the top by being a people person but you can also get to the top by being so good that people obey you despite of their hurt feelings.

Besides, at some point you're going to work with people. There will be people trusting you for your mind and your logic. There will be people working as the people person for them. Someone who will be talking and facing the employees since that's their strong suit. It's why emotional people (or the people person) and logical people gets along so well. The other is lacking what the other is abundant of. They make the best tandem in life and in a company.

I think they mean banks that are using fiat money. The primary reason why we need those institutions is so that we can be paid and pay for something digitally. When you're working, it's quite rare to get paid in cash. They are paying you by sending the money to your bank account because it has less work for them and for you. Besides, you're going to use your bank account mainly to pay for the things that you're buying. Cash is only used for smaller transactions, mostly for small shops that don't accept cards. With bitcoin, we're not going to need the banks for this reason.

Regarding the reasons you are talking about, I think the banks can switch to using cryptocurrency if that's what the people are looking for. On the other hand, there's really no point for them to do so since the money that we have in our bank accounts are essentially already a cryptocurrency. The only difference are they are issued by the government, they are centralized, and the government can create more of it out of thin air. Ever wonder why the banks are so calm when you tell them that your money got stolen due to a security breach? It's because they literally don't care. They will just add a couple of numbers in your account then that's it.

I agree. By "nothing", I meant nothing as in you can't start right away. Even when you have money, you still can't start earning bitcoins right away. You still need knowledge and I really think that it starts and ends with knowledge. You can start trading with your money but you can't just buy an altcoin, cross fingers, and hope for the best. You need to understand why is that coin good to buy and why other coins aren't. Even the usual signature campaign, which is every newbie's favorite crypto making method, requires knowledge. It's quite hard to start with crypto these days but everyone wants to jump to earning money from it. It's not like they can digest all of the concepts and ideas behind it in just one sitting. It seems like an easy job, but it's only easy if you know what you're doing. In the start, you're going to have a hard time getting the hang of it as it requires tons of research.

Everyone is scared of bitcoin being used by mafias or terrorists but no one really mentioned how unlikely that is. With bitcoin's volatility and the amount of money being transacted by the terrorists, they will be greatly affected by the movement of bitcoin's price. Another thing, do they really know about this thing at all? In movies, terrorists have hacker friends and some digital guy. I'm not sure if that's what's going on in real life since terrorists lived in a poor place that's why they become terrorists in the first place. They were forced by poverty and it's pretty much their culture.

Assuming that a group of terrorists accepted crypto as payment, what are they going to do with it? They are going to convert it into fiat because that's the only way that money will be useable. It will just leave digital trail that can be traced back to them. There's really no point for them to use this currency when they can be paid with fiat instead.

Another thing to note, so what if the terrorists are using bitcoin? How is that different from a normal citizen using bitcoin at all? How is that a big deal?

Easy. Find an institution that doesn't demand any of that. There really is no point in looking for proof of transactions since the money could have been the sum of a family's savings. For example, 5 siblings saved up money in order to buy a house and then gave it to their mother. The mother will have no way of giving proof of transactions since the money was simply handed over to her. Money can't be made out of thin air. Even the money that came from the mafias were once created by the government. There really is no point. Someone can spend millions of money but still not be questioned since money can simply be given to you by anyone without any transaction going on. Not every money people have were because they sold something or worked for it.

Another alternative is to make someone who has a good job to purchase the thing for you and then later on transfer the title to you. It's as easy as that so looking for proof of transactions is quite useless.

We have to admit, giving them job is the only thing that you will only realistically do. Creating jobs and having poor people hired is quite a win-win situation. They get paid, you get work done. The problem with this if they are lazy. They got poor because they are lazy in the first place.

Providing food for strangers is quite a stretch, let's admit that. Why are you feeding someone else that isn't family with nothing in return? Maybe you can do this once in a while but doing it daily isn't sustainable at all. They will get comfortable with their life and not move a muscle to make money since they know that you're going to provide for them. Same goes with shelter.

For education, a lot of people are actually doing this to high schoolers. They fund their college and in return, they are going to pay back once they got a great job after college. There are also people who can't produce their own child so what they do is help teenagers instead.

Purpose? How can someone starving have a purpose? They can't even think right. They have to fulfill their physiological and shelter needs before this.

That is assuming that the project will be developed and more people are going to buy the coin. Most times, it's the same people who invested during the ICO who are buying when the coin gets listed to a trading site. They think that the coin has a potential so they stock even more of that. It's also weird that ICOs stop promoting their coin once the token sale is over. They have to continue advertising the coin so there will be more people interested in the coin. Moreover, that allows them to have a bigger audience and a bigger community. They need to involve more people because otherwise, the price will just go down even when the coin has a good potential and has been developing as planned.


To sum up this year, the crypto market has been dry. No successful new coins at all, and rampant scam ICOs. Not sure when is this going to end or if this would ever end at all.

Just like money, if your bitcoin wallet is left unsecured, then it's going to be found by someone and it's going to be stolen from you. We've been in this forum for so long yet there has not been a report of a stolen bitcoin that wasn't the person's fault. It was either stolen by someone around them or they got confused and uploaded the private key instead of the wallet's address. I think people are more worried about bitcoin turning out to be just one huge scam and millions of people got tricked by it. I don't worry about that for I understand this stuff and how the price of bitcoin ended up to where it is right now. To simplify, people are scared of what they don't understand and bitcoin's simply one of them. Sadly because they are not putting the effort to enlighten themselves about the topic.

If a lot of those projects tend to be a scam, doesn't that make the current ICO market bad? One risk that you're taking into consideration is whether or not the coin is going to be successful. These days, there's another risk. You have to take into consideration the legitimacy of the ICO. Most coins don't even send out the tokens. That's just how lazy they are. Once they are done with the token sale, they just leave. It's so sad to participate in a bounty campaign and then the coin turns out to be a scam. And sometimes even checking the coin out doesn't even work. Coins these days appear as legit. They have a legit team, a legit website, and a good whitepaper. They turned into a scam simply because that's what they have been planning all along and the participants of the ICO don't have any way to know that.

I agree. OP is just putting the blame to crypto because he don't want to take the fault. OP was not able to manage his time that well and ended up messing up his actual job. Don't put the cryptocurrency work in a pedestal just because you can see your earnings potential to blow up. It will still going to take a lot of time before you can earn a lot of money in here. For now, it's just an additional income, a side job, so you better treat it that way and put your focus on your main job. The problem with people is they get excited when something new like bitcoin comes. They want to learn it all right away instead of giving it time to sink in.

Remember that at the end of the day, your main job is still what puts food on your family's table. At the end of the day, without your main job, you're going to be homeless so you have to prioritize that. Sideline will only become more important than your main job once they are giving you more than your main job. But I guess that can easily be not the case when you don't truly enjoy your main job and you find it not doing.

Is that supposed to be a good thing? At the end of the day, you still lost your money by gambling and you can never take that away. You could have used that money for something else, maybe for your family. Imagine if you've bought pizza with that money instead, your family could have had a better night and you would have had way more fun. People in here want to hype up the idea of having fun in gambling when they could have been hyping up the idea of having fun with minimal cost.

I just can never see gambling as something that you can do and feel great about it. There's just always this feeling that you simply burned your money and didn't have fun at all. You could have done something like going to the gym, hiring a personal coach, and sweating a lot. Your brain releases dopamine during exercise as well. You also have spent lesser money and you'd even achieve a better body.

I would actually go for a transparent story instead. Just spreading positive news will make bitcoin seem even more shady. It will look like it's another multi-level marketing company and you're trying to make people sign up. What's funny is that people close their minds right when they heard something negative about bitcoin, yet they are still open to the idea of using fiat money every single day. Right now fiat is constantly inflating because the economy of a lot of country are going down. You can't buy the same amount of things that you were able to buy before and it's only recently people get to know that. Everyone's sleeping on the idea of inflation until it got out of hand. Keeping a transparent story will reveal all the negativities about fiat money like how fiat doesn't really have a value at all.

One huge reason why people don't want to trust crypto is because it's being used by criminals, according to tons of articles on the Internet (who only published that so they get more traffic, btw). On the other hand, fiat is being used even more by criminals but we don't see people losing their trust on fiat. SMH.

No.

But this is not a brand tho. It's not something that we have to sell. It's something that people will eventually adopt assuming that things go as expected.

It's the absence of research that makes people confused. Had they done their research, they wouldn't be thinking so.

Did you expect a bunch of zeros and ones? Bitcoin is abstract and a physical coin is something the reader can understand better than codes.

It's not like that. You can't just change your name and appearance and voila! your reputation is now cleansed. You're all new. You're never known by people. You're a totally different brand.

After the rebranding, do you expect the community will suddenly all be lovely and not full of shills?

This is not a company.

Correct, with little money, you're better off doing smaller things such as buying and selling things on the Internet or simply opening up a small business in your area. Buying bitcoin and holding it for profit is too risky and someone who has little money sure doesn't afford to lose such money. There really isn't much you can do with little money when it comes to business but do something active about it like selling food at your workplace or at home. And honestly it's much better than buying bitcoin and then holding it because investing in the crypto world doesn't guarantee money and you can be waiting for years only to yield small profit from it. At least buying and selling something will give you profits right away and losing money from it is very unlikely.

Even the people that does see bitcoin as a currency are going to be disappointed to wake up finding out that they can buy less things with their bitcoins. It's the same as inflation with fiat currency. People are mad about inflation because they can buy fewer things with their money. But as you can see people aren't considering fiat currency as investment but they're mad about that as well.

There really is nothing wrong about looking at bitcoin as nothing but an investment. It has a very volatile market and people would take advantage of that. Whatever opportunity that can bring money to people, they take advantage of. Sure do people understand that this whole thing is based on supply and demand. On the other hand, even with that knowledge, others want the price to increase when the timing is convenient to them. SMH.

It is supposed to save your private keys offline which means it's somewhere out there in its memory. Honestly, I'm not going to spend a hundred dollar for a hardware wallet when I can just make my computer totally secure. To me, hardware wallets are for those who are insecure with their computer skills. Insecure enough to not think that their computers aren't free from virus. I really think that hardware wallets will be one of the focus of hackers since successfully finding out how to hack one would mean that you're able to hack all of them. But maybe I'm wrong. Maybe these hardware wallets costs so much because there's something special in its technology. But to me, writing down your seed or private keys on a paper is much safer than having a device. Paper wallet to me is the best way to go.

Plus, if someone finds your hardware wallet, they can just steal it. There might be a program in the future that hacks hardware wallets by connecting them to a computer, they might not be. But when someone gets your hardware wallet, they already gained $100 from the hardware wallet itself so it's still prone to getting stolen even when they can't steal what's inside.

Same here. My phone gets hot when you're using the Internet while there's a lot of programs running or when I'm playing games. For example if I'm downloading while playing graphics intensive games like Need for speed. I pretty much have myself a portable oven toaster because I can easily toast a bread on it after just a couple of minutes. Now, imagine what would happen if your phone is communicating to the Internet while being at 100% cpu usage. It's going to be hot right away, I'm not sure if it's going to be able to be at that state for 24/7 without exploding.

There really is not any sensible point as to why would you mine with your phone. First, it doesn't have that much power to mine. Second, it's got bad ventilation system. Third, it's expensive. Fourth, it's just not made for mining. If your phone and a decent graphics card costs the same, why would you choose to mine with a phone. Another thing worth noting is that even the best graphics card won't give you decent earnings in mining these days. You need multiple graphics card and a good ventilation system. So even with one graphics card, you're not going to be earning money. That's why it's also pointless to mine with your laptop or your personal computer. You have to put a decent amount of money for this kind of business to be profitable to you. Otherwise, the electricity bill will be higher than your earnings.

It's so sad to see that people actually bought these coins thinking that it's going to overthrow bitcoin from its throne simply because influential people told them so. But if we're going to play the logic here, the influential people have an enormous amount of bitcoins. If they don't hype the forks, no one will place buy orders and they will not make profit from it. So in order to end up with the best case scenario, they had to team up and create hype enough for them to sell their coins on a decent price. It's a million dollars worth of money just like that. And of course so the people who got ripped by this scenario are left hanging with messages that makes them keep holding even longer. Explanations like why the world is just not yet ready for the coin yet and you should even buy more because it'll increase in the future. Just so the actual investors don't feel bad about it.

Nonetheless, the possibility of those coins actually going somewhere in the future isn't entirely zero although when we look at the present charts, they are not looking good.