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1  Bitcoin / Bitcoin Discussion / Reasons for newbies loss in bitcoin on: July 20, 2021, 08:27:39 AM
Bitcoin is becoming mainstream these days and top most choice for many investors for making investments and contribute a good portion of their portfolio allocation towards the same but still we see panic sell among these investors making the situations worse for market and for themselves also. So what are the main reason for these sell off ? Later on when they buy at peak and sell off at drop they think btc was not the right option for them but don't realize their mistake.Some common reasons for these are as follows:

1) People think Bitcoin as tool to become rich overnight

The main reason for people investing in bitcoin is that they see btc as tool to become rich overnight and according to them if they would invest $100 or $1000 in bitcoin it would be double or triple within days and when they see their investment going down next step they get nervous and want to safe themselves from any further loss.They see on news and article that btc is up 1200% this year and they think it will keep on rising and when this does not happen they panic sell and start dumping their coins.They need to be atleast have patience and know it will take certain time for btc to jump back.Apple,Microsoft and other shares have not make upto S&P 500 overnight but still bitcoin is keeping the pace very fast. 


2) People ignore the volatility factor and past Crashes

Many new investors enter the market in the investment hype and hope for steady rise and ignore the main "Volatility" factor and it is the basic knowledge every investor must have prior investment.The volatility in crypto market is high and prices can fluctuates highly but when it goes down they start panicking and do the same mistake which is biggest mistake. Market have seen many dips and crash like situations but still they tend to ignore it and got nervous. They should see this chart history before any judgement:


When it have witnessed more than 70-80% crash in prices and still managed to rise to this level so why do panic sellers think it is bubble and will burst this time? It has been declared dead hundred times and still trading at $30k so if you underestimate it you will be in loss in future.

3) Whales manipulation and FUD

This is most common technique to create dump like situations in market to gain huge profits from this situation and accumulate more bitcoins at cheap prices.They spend rumours and create FUD in the market to which most of the newbies will get panic and start selling off and exactly same thing happens and the only ones who suffer loss out of this will be panic sellers.



WE ALL NEED TO TAKE INTO CONSIDERATION ALL THE FACTORS BEFORE INVESTING INTO BITCOIN AND HAVE PATIENCE FOR SOME TIME MOST IMPORTANTLY IN THESE DIPS SO THAT IT GET SOME REATAIL SUPPORT.
2  Economy / Scam Accusations / Fake Starlink site offering services in bitcoin on: July 12, 2021, 12:52:42 PM
We all are aware about how hackers try new ways of fooling people to get their btc or any other coin they are holding.This time the hackers offer broadband services of Starlink at cheap prices and accepted btc payment for the same.This was for only Iran users and content were shown in Persian language and the website look familiar with the original site.



Quote
A fake website that looks almost like the original Starlink website went online with the domain name Starlinkiran[.]com. This fraudulent website looks and feels like the original with the exception of a few things, including that the writing is in Persian.

Another big clue is the pricing. The fake Starlink website is charging $39 a month for the internet connectivity and $249 for the required hardware. The original Elon Musk-linked Starlink website charges $99 per month for the internet and $499 one-time fee.

Although the astonishing part is they were asking for personal details also and moreover Starlink don't provide services in Iran at this time but still they have tried to convince people.
Hope people learn about these cheap tricks and don't abruptly make payments without proper check.

Source: Fake Starlink site
3  Bitcoin / Bitcoin Discussion / Jack Dorsey vs Elon Musk(meme Master) on: June 25, 2021, 11:32:07 AM
Many of us might be aware about Jack Dorsey (CEO of twitter and bitcoin enthusiast) and Elon Musk ongoing twitter buzz which all started with Musk responding to one of the Jack's tweet about Bitcoin related event.But this did not end up here and Jack invited Musk for Bitcoin related discussion on the event.

After that people start trolling Musk and many funny comments were made and now Musk had accepted the invitation and it would be really interesting how they both will try to put their thoughts about bitcoin.Most probably Musk is going to announce that Tesla will accept btc now after the event Grin.


Read the full details here: Musk vs Dorsey tweet battle

What do you think of this and who's gonna drop the mic?
4  Bitcoin / Bitcoin Discussion / Bitcoin transaction reaches historic peak on: June 14, 2021, 09:41:20 AM
Although daily thousands of Bitcoin transaction are settled and added to particular blocks mined every 10 minutes but on 12 June block number #687249 recorded maximum of 4075 transactions.Although normal transaction recorded are between 1000-1500 per block but this was 4x higher transaction.See full details in the image



This was relayed by one of the biggest mining pool Antpool and have gained 6.52 btc as reward in the form of 6.25 BTC(block reward) + Transaction fees

You can have more look at this block here: Block
#687249


According to Chinese journalist Colin Wu this is result of China FUD and banning btc which has reduced the hasrate corresponding to slower block productions.What are you views on this?
5  Bitcoin / Bitcoin Discussion / Do you know this early Bitcoin adopter? on: May 29, 2021, 04:16:31 PM
Many on this forum members who are early Bitcoin adopters might be familiar with this name @Davinci Jeremie who is one of the early Bitcoin adopters from 2013.He is in the news these days for showing off his luxury life style by flaunting lavish cars.

Actually he was asking everyone to invest just $1 worth of Bitcoin on his YouTube channel in 2013 and saying for long term huge returns.The peak prices in 2013 was $233 and then plumered to low of $50 and stable at $70 but not much attention was given as usual.This was his video in 2013:


 

And now after 7 years of that video he is currently living a lavish lifestyle just because of bitcoin investment.Go check his instagram profile here @Davinci15

He is resident of Chile and enjoying his life roaming around the globe and still promoting Bitcoin.Here check some of pictures.








Just check for some details here : https://www.mensxp.com/amp/social-hits/news/88489-man-told-everyone-to-invest-in-cryptos-8-years-ago-now-lives-life-like-a-kind.html

The main point is how many crash and dips he have witnessed during these times but still holding on his nerves which is example for the panic sellers and new investors in the market.Just HODL for long time ignoring FUD and market manipulation.

But most of the new traders do is reverse actually and whenever we witness crash or dip they got panic and start creating threads on the forum like:

1)Bitcoin is dead
2)What to do next and it will not rise
3) Bitcoin bubble has burst
4)Market is not going to recover again.

But we need to learn some positive things from his investment and have some patience if you want to get profits in the long run.
6  Bitcoin / Bitcoin Discussion / Domino's franchise offering salary to employees in bitcoin!! on: May 24, 2021, 03:40:09 PM
The Bitcoin demand and popularity is rising these days and we came across many institutions and government who are having positive approach on Bitcoin acceptance and it is becoming mainstream and mode of payment these days.

Just recently a renowned restaurant brand Domino's franchise Immensus Holdings has announced that it's employees can get paid in bitcoin in Netherlands.But there is catch in this salary payout that the employees who are getting paid more than average payout of country can convert their extra income into Bitcoin.

Quote
"We are a modern company, and we work with a lot of young employees," Immensus co-ownerJonathan Gurevich said. "We hear them talking about Bitcoin and we want to offer the opportunity to own cryptocurrency."

They have more than 16 branches and more than 1000 employees working with them who can avail this offer and it was announced on Bitcoin Pizza Day.


It is cool to see such things happening with Bitcoin and it's acceptance increasing but the main point is that if they hold it as investment for long term they can have huge profits but what if they want to make transaction and buy stuff with it and higher transaction fees became issue for them as workers might not want to pay higher amount in fees only with small amount of Bitcoins.

Your opinons on this?
7  Bitcoin / Bitcoin Discussion / "Bret Lee Bitcoin charity For India" on: April 28, 2021, 04:59:18 PM
Bitcoin is quite a popular topic these days whether related to its price, acceptance by major companies and government, mining related topics or others.But in tough time of corona Pandemic a renowned Australian fast bowler who we remember from our childhood,Bret Lee has donated 1 Bitcoin to Indian government to fight with oxygen supply shortage which is equal to 40 Lakh INR approximately at current bitcoin prices.It is not big donation but the main point is charity done in bitcoin which remarks the Indian government who is moves to finalize crypto bills.


Quote
“India has always been like a second home for me. The love and affection that I have got from the people of this country both during my professional career and even after my retirement, holds a special place in my heart,” wrote Brett Lee.

“It saddens me deeply to see people suffering due to the ongoing pandemic. I feel privileged to be in a position of making a difference and with that in mind, I’d like to donate 1 BTC (Bitcoin) (Around 41 Lakh INR) to Crypto Relief to help with the purchase of oxygen supplies for the hospitals across India.

It is good to see that charity and donations are being made in bitcoin because many still thinks that bitcoins are used for illicit activities on dark web only and with this initiative btc image might improve in the eyes of general public and its acceptance grow at faster level.

Source:Bret Lee donate Bitcoin
8  Bitcoin / Bitcoin Discussion / Bitcoin demand among Workers globally!! on: April 09, 2021, 02:26:41 PM
Bitcoin is becoming mainstream these days as major companies and investors are planning and already investing huge amounts in Bitcoin to increase their profits in the long run.But what about the working class?Are they willing to accept Bitcoin as regular source of payment in the form of salaries or bonus offered to them by companies? Although the retail investments in Bitcoin is growing with popularity and prices surges during this pandemic period but still a large percentage of people prefer to have stable income in form of fiat.But I was wrong and was surprised to see one such news when I came across this picture on instagram.



So the labour class or workers who work hard are also demanding Bitcoin in salary which is a very positive sign for it's mass adoption.This was one of the main aim of creating decentralised currency accepted by everyone providing them freedom of their funds.They have also recognised btc as one of the financial assest to support their families and increasing their profits also in the long run.Due to demand the government, institutions will have to make rules and regulations for btc adoption and pay the workers.We are moving to some major financial changes which can make btc as major source of payment and financial asset at the same time.Hope for it's speedy growth.

Share your opinions on this one.
9  Bitcoin / Bitcoin Discussion / Flipkart accepting Bitcoin payments?April fools day tweet 😄 on: April 01, 2021, 05:28:04 PM
Another e-commerce giant flipkart tweeted that they are now accepting Bitcoin payments for it's customers which was on the occasion of April fools day and it's a joke but still they have recognised the need and in future they might be willing to accept it.






Although it was a joke but still they have mentioned the word "future of payments" with reference to Bitcoin and it has already made an impact on large people's mind because of their huge customer base with million of them viewing that tweet.
10  Bitcoin / Bitcoin Discussion / "Gold is government assest,Bitcoin is all yours." A Comparison between them. on: March 23, 2021, 01:48:29 PM
There is always a comparison among Bitcoin and Gold investment in the market but we are ignoring the fact that gold is centralized assest but Bitcoin is decentalized source of investment backed up by Secure network of miners always.This notice was issued by the US government in 1933 or 88 years back.



Quote
During extreme crises, governments can also seize people’s gold. There have been some stunning examples of “gold confiscation” in the past.

Control

The government has full control over your gold investment and any time they can ask you to deposit it with them or even put a limit to gold holdings with individuals which is another concern but still you can't speak being residents of democratic countries.But Bitcoin provides your freedom to enjoy your funds according to your own wish without any centeral authorities intervention because of its decentralized nature and moreover it's network is always secured by the miners.

Growth chart



It is clear from the chart that Bitcoin has outshine the gold prices in the recent years and touched ATH of $60k in only period of 12 years whereas gold has been in the market from past hundred of years as signs of gold can been seen in earlier dynasty caves.So Bitcoin has outperformed gold in just 12 years.

Supply

The Bitcoin supply is limited to 21 million coins which will be mined until 2140 as approximately 4320 blocks are mined every month and reward for each block is 6.25 btc/block which will be halfed after halving.So this pattern is fixed for Bitcoin.Gold supply is also limited until all the natural resources have been exhausted from which gold is mined but we can't say exactly how much time it will take to reach at that level where mines capacity to further gold has been used.



Payments

You can use Bitcoin as both investment assest and to make payments to other people by making transactions with very nominal fees over the blockchain.With increase in btc demand and prices you can have profits in your pocket whereas you can make payments to big giants who are now accepting btc as payment.But on the other side you can only hold gold as investment with you which will give less returns over long periods and you can sell it in the market if you wish to do so but you cannot buy stuff of your choice with gold as there is no payment options online or in physical to exchange gold for your items.

Increase of Bitcoiners

So far Bitcoin has performed very well and given tough competition to the other financial assest but now the number of Bitcoin users have also been increasing rapidly and more investors are putting money into Bitcoin instead of Gold and other bonds because of higer returns and its acceptance by major organisations.




So why are we making such comparisons?We need to understand the importance of Bitcoin in regards to other financial assest as Bitcoin is only decentralised currency that can provide you freedom from these traditional monetary system and make you king of your own money.Invest in your future.
11  Bitcoin / Bitcoin Discussion / Bank offering Crypto Services!! on: March 10, 2021, 04:36:35 PM
Few years back when banks and government envy Bitcoin and other cryptocurrencies have we ever thought they would also indulge themselves in the same business?They have realised the potential of Bitcoin and moreover they want profits and it can be matched if they fulfill customer satisfaction.The crypto demand is increasing day by day which why they are providing the crypto services now.

Cryptocurrency adoption among the traditional banking industry is spreading rapidly and a Germany based bank Donner & Reuschel is set to make its inception into the crypto business by offering related custody services.

Markus Vitt spokesperson of bank issued the statement

Quote
We have been observing the digital assets market for quite some time and are convinced of the potential of blockchain technology also concerning classic securities transactions.




Bank provide crypto services

This is just a kickstart to whole new monetary system which will shift to decentralise finance of payments even through centralized authority of chains.
12  Bitcoin / Bitcoin Discussion / India to regulate Bitcoin?Good news for crypto enthusiast on: March 08, 2021, 04:48:31 PM
The Indian government is in final stages to present the crypto bill in the parliament and there were rumours that government will impose a complete ban on trading of cryptocurrencies making it criminal offence.But however Finance minister Nirmala Sitaraman has given hints that government is in talks with RBI to regulate the usage of cryptocurrencies in the country.The supreme court has also rejected RBI petition in 2017 to ban the cryptos.

Quote
The cryptocurrency industry in India is relieved at Union finance minister Nirmala Sitharaman’s comments that the government will take a “calibrated" approach to crypto trading in the country.

The minister said “negotiations and discussions" are going on with the Reserve Bank of India (RBI) on how to regulate cryptocurrency in India. “Obviously, the RBI will take a call on what kind of official currency, cryptocurrency will have to be planned and how it has to be regulated," she said in an interview with CNBC TV18 on Saturday.

Hints to regulate crypto in India

This announcement is still not public but just a assumption.So it will be great news if it happens for all the crypto users there.What are your thoughts on this?
13  Bitcoin / Bitcoin Discussion / Bitcoin Super Hero: "The Billy Bitcoin" on: February 08, 2021, 12:41:34 PM
A US based charity came up with the idea of creating a logo of bitcoin Superhero which is named as "Billy Bitcoin" to help boost it's fundraising profile.The Songs of Love Foundation, which became one of the first national children’s charity to accept cryptocurrency donations in 2013, is a nonprofit that creates personalized songs to uplift children facing tough medical conditions or emotional challenges.

This is the logo:


image uploader

Quote
Launched Friday, the “Billy Bitcoin” superhero is part of the charity’s efforts to increase donations through cryptocurrency, which it said is “even more efficient than donating cash,” on its website.

You can get tax rebates of upto 30% on donations in United States which means you can contribute towards good cause and still gets rebate on your taxable incomes.Moreover it's great idea to spread awareness among masses by promoting crypto donations and creating Bitcoin logo.

This report was submitted by Nasdaq

Isn't it great idea?
14  Bitcoin / Bitcoin Discussion / Twitter and Square CEO Jack Dorsey running his own Bitcoin node on: February 06, 2021, 08:16:08 PM
One of the great advocate of Bitcoin and CEO of social media platform Twitter and founder of Square, Jack Dorsey is now officially running his own Bitcoin node on the blockchain network as tweeted by him.He has previously promoted the growth of Bitcoin by launching #bitcoin for the users and allowing users to buy Bitcoin through his cash app.He is one who strongly believes in Bitcoin and always happy to admire the efforts of other in progressive way but now this time he has setup his own node which means he will validate transactions and add them in the block and mining btc as rewards using his node.He tweeted this on Friday:


upload photos online free

The article further provides the detail for the same:Coindesk

The global leaders who knows its importance are standing in favour of it and utililizing it's benefits.Jack Dorsey has involved himself at the time when mining has become difficult and costly as you need more hashing power and electricity to solve the cryptographic puzzle faster than other networks even if the rewards have been reduced to 6.25 btc per block mined.The only reason is you will still have good amount left with you when the prices will skyrocket in the future and you will ignore mining cost at that time.So isn't it interesting for you?
15  Bitcoin / Bitcoin Discussion / Employees can get salary in Bitcoin in Miami on: February 04, 2021, 10:17:40 AM
As the world is now witnessing the rise of Bitcoin in both terms growth and price many big institutions and government are recognising the need of Bitcoin and other cryptocurrencies in their system.The Miami mayor Francis  Suarez said that Miami city employees could soon choose to get paid in Bitcoin rather than in USD as salary because he wants to expand the Bitcoin adoption throughout the city.

Crypto enthusiast and experts like CEO of twitter Jack Dorsey are calling it a smart move as they what impact it will have on growth of Miami city:



The persons, institutions, governments with wide prespective who know what financial payment system will work in future are already making rules and regulations to adopt Bitcoin and cryptocurrencies along with blockchain technology to stay ahead in future with economic becoming strong of nation.

Cointelegraph

What are your thoughts about this?
16  Economy / Trading Discussion / Trading in Bitcoin options turns $638k to $4.4 Million on: December 14, 2020, 04:36:30 PM
How many possible ways are there to increase your weatlh 3-4x in short span of time and that of only 5 weeks?Is that sound interesting to you.Crypto trading is one of the way where you risk you money and with your trading skills and market judgement you can get immense returns. A trader buys 16000 bitcoin options January call expiring at $36000 strike for 0.003 bitcoin per contract as per reports.The total cost was 48 bitcoins (16000*0.003)
The total cost of the intial outlay was $638,400 and as the prices rally from the $13000 to $19000 the premium drawn rose from 0.003 bitcoin to 0.0145 bitcoin generating paper profit of $4.4 million
Here is how return is calculated:
= [(Option's current price of 0.0145 BTC x 16,000 contracts) x bitcoin's current spot market price of $19,200] minus (-) cost of trade.

= [232 bitcoin x $19,200] - $638,400

= $4,454,400 - $638,400

= $3,816,000

Here is link for furhter information:https://www.coindesk.com/deribit-36k-january-bitcoin-options

So it's quite huge returns in such short span of time and that's what the power of Bitcoin and blockchain is that's why all the major institutions are adopting it as fiscal measure for their financial resources.What are your thoughts on this?
17  Economy / Gambling discussion / Is there any gambling site that allows betting directly from the wallet? on: January 21, 2020, 02:49:52 PM
Similar to the concept of DEX or Decentralzied Exchange, is there any gambling site which allows users to import private key and play games directly from their address? Or allows users a wallet on the platform with private keys so that user can withdraw and deposit money into account anytime without the approval of the site representative?

It yes then in which different cryptocurrencies such gambling is offered?
18  Economy / Services / KTByte Selling Java Tutorial for Bitcoin on: July 13, 2014, 02:11:45 PM
I recently started using their Java learning tool, and then noticed they accept Bitcoin! Let's support another business accepting Bitcoin, and teaching programming.

See them here: www.ktbyte.com

Also, the code to get the free CS00 level is: CS00LECfree932817 I am not sure if it still works, they sent this out like two weeks ago.

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