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481  Bitcoin / Bitcoin Discussion / Re: Are Your Kids Aware Of Bitcoin? Teach Them. on: May 30, 2023, 02:04:33 PM
My kid is still not aware of Bitcoin. That is my plan to do when they reach the right age i will teach and educate them about bitcoin and other crypto currencies. I will start explaining them what bitcoin is and how it works. I will also sight some examples for them to properly understand how can we use bitcoin in our daily lives. I will teach them the importance of keeping the Bitcoin and secure and i will explain to them on how to create a secure wallet and the importance of keeping the private keys in a safe place.

Good that you have planned to do all that. But at what age exactly are you going to start educating them about Bitcoin? And what would the main purpose of that education? To turn them into early investors, with a hope that they will turn cent into million in future. Or just for them to be aware of technology and opportunities of it? Or you think that they should learn about crypto now, because in 5 years, for example, crypto will be everywhere?


This is what I'm thinking, I see most people intend to teach bitcoin to their children, many believe in teaching them as early as possible, even for 3rd graders.
Most of us invest in bitcoin for money and want to be rich, so I wouldn't be surprised if they want their children to be like them. Teach bitcoin to let your children become investors and earn millions of dollars. I don't think anyone will teach about the technology or other benefits of bitcoin because even if they don't care about those things themselves, how can they teach others?

So basically, the reason you want to teach your kids about crypto is about getting rich. Imho that is bad. First, you go away from idea of Bitcoin into idea of earning. Second, if you want your kids to get rich as soon as possible, let them go to work then, instead of kindergarten or school. Why only teach them Bitcoin, when you can teach them about stocks? Why not tell that spending money they've got from Christmas or Bday presents on Apple or Tesla stocks is way better than buying toys? Because instead of toys, in future they might get something bigger or better?

I feel sad when parents want to teach their kids something, that will turn into money in future. Teach Bitcoin, to get money. Let, or better say force them to do sports, to make them a pro athlete with millionaire contracts. I feel sad when for people money is the only measurement they accept. Not experience, not success, but money.

I don't hate someone teaching bitcoin to children, but I strongly oppose teaching bitcoin to children who are too young. Many parents on the forum are trying to teach their children about bitcoin when they are too young to learn about bitcoin or other investments. That is the age when children need to have fun and explore everything in the world around them, not force them to follow our thoughts. And you're right, teaching them to invest too early won't make them rich in the future, but many parents aren't aware of this.
482  Economy / Economics / Re: Dedollarization is here, like it or not on: May 30, 2023, 09:41:19 AM
There will be many people who oppose your article who are American fanatics and always consider America more than their parents. But the reality is that de-dollarization is happening even though we don't know if it will succeed or fail. It's really happening, and it's scaring a lot of people. I don't care if the USD is dethroned or not, but I want a fair and balanced world rather than just depending on one great power, and they can do whatever they want. They are also just one country out of 200 other countries, they are not the creators of this world.
483  Bitcoin / Bitcoin Discussion / Re: Are Your Kids Aware Of Bitcoin? Teach Them. on: May 29, 2023, 04:09:18 PM
My kid is still not aware of Bitcoin. That is my plan to do when they reach the right age i will teach and educate them about bitcoin and other crypto currencies. I will start explaining them what bitcoin is and how it works. I will also sight some examples for them to properly understand how can we use bitcoin in our daily lives. I will teach them the importance of keeping the Bitcoin and secure and i will explain to them on how to create a secure wallet and the importance of keeping the private keys in a safe place.

Good that you have planned to do all that. But at what age exactly are you going to start educating them about Bitcoin? And what would the main purpose of that education? To turn them into early investors, with a hope that they will turn cent into million in future. Or just for them to be aware of technology and opportunities of it? Or you think that they should learn about crypto now, because in 5 years, for example, crypto will be everywhere?


This is what I'm thinking, I see most people intend to teach bitcoin to their children, many believe in teaching them as early as possible, even for 3rd graders.
Most of us invest in bitcoin for money and want to be rich, so I wouldn't be surprised if they want their children to be like them. Teach bitcoin to let your children become investors and earn millions of dollars. I don't think anyone will teach about the technology or other benefits of bitcoin because even if they don't care about those things themselves, how can they teach others?
484  Bitcoin / Bitcoin Discussion / Re: How important is it to keep your bitcoin investments secret from others ? on: May 29, 2023, 03:53:56 PM
Recently, I came to read this news

https://protos.com/spanish-police-rescue-crypto-investor-kidnapped-on-holiday/

The first thing that came to my mind after reading this was that one should not talk about his crypto investments with strangers or friends as it can pose various risks. If you are active on forums like bitcointalk and involved in trades, you should not give information which can help others relate to your identity.
Actually, incidents like this do not only happen to people who invest in crypto, because there have been many other incidents that are related to what is called the act of holding and kidnapping. This all happened, of course, because the person who was kidnapped was a rich man, but by chance his wealth was obtained from the result of having crypto assets. But about your opinion regarding keeping crypto assets secret from other people, I think it's okay to tell other people. But on condition, that person is someone who is really very close, then don't tell in detail, and only tell if that person asks first. But even then, if you really believe in the person you want to tell, if you're not sure, keeping it secret is also fine. Because keeping it secret is indeed a safer zone. And in essence, all investors in crypto must be more careful, because crime will always exist in this world, the most important thing is that we all have to be more vigilant.

That's what I'm wondering, people always talk about keeping crypto investments secret for fear of being kidnapped, stolen... but what about assets like gold and fiat? What about valuables? Will they keep it a secret or show it off everywhere?
You are right, not only with bitcoin but with all our assets we should keep it secret. Do not arbitrarily brag to anyone, especially to strangers on social networks.
485  Bitcoin / Bitcoin Discussion / Re: journey to financial freedom on: May 29, 2023, 03:45:02 PM
No one is late when it comes to bitcoin investment. 14 years old is still young IMO. Although bitcoin has already grown a lot since its inception there's still a lot of room for growth. There are only a few million people in the world that holds bitcoin. Bitcoin is still far from becoming a normal currency worldwide like our fiat. There are only 2 countries that officially call bitcoin a legal tender.

Even bitcoin's previous ATH of $68k is far from the current price of bitcoin. I expect bitcoin to reach its previous ATH price by next year or by 2025. If we buy at today's price that is more than 200% of our investment in a year or 2. No financial institutions will double your money in that short span of time. Bank interests, bonds, and other government and banking instruments can only offer little returns and are usually not enough to cover inflation.

In terms of profit, no other asset or investment can do what bitcoin has been doing, its profit is really everyone's dream. But don't just talk about profit but forget about risk when investing in it, the higher the return, the higher the risk. It's never too late to invest as long as the volatility of bitcoin persists, but I think it's better to invest as soon as possible because every day, bitcoin gets bigger and smaller, and the profits will get smaller and smaller. So grab the opportunity as soon as possible, don't hesitate and procrastinate.
486  Bitcoin / Bitcoin Discussion / Re: Internet is one limitation of bitcoin on: May 29, 2023, 03:37:53 PM
..

Though there are also some hardware wallets that may transfer BTCs offline, I doubt that everyone has access to it also.

Is this true? I've heard it a few times before but never seen it. Honestly, I don't think it will work because bitcoin is built on the Internet, and miners will confirm transactions when it is connected. If you can use bitcoin offline, it's only temporary, I mean, only when you have an internet connection again will the transaction complete. That means using bitcoin offline is useless, the transaction will never be completed if we lose the internet forever.
487  Bitcoin / Bitcoin Discussion / Re: Bitcoin or banking investment? on: May 28, 2023, 03:50:08 PM
I use the bank to keep my savings for emergencies as well as my daily necessities. I never thought of depositing a large sum of money in the bank to receive the meager interest they paid us. Meanwhile, I use bitcoin as a long-term investment for the future, although bitcoin is riskier than other assets but with the return it can provide, I think it's worth the trade-off.

If you are not a risk taker and can't take risks, don't invest in bitcoin but don't put all your money in the bank, try with stable assets like gold. On the contrary, you can take risks, like thrills like riding a roller coaster to find with bigger profits then bitcoin what you need.
488  Bitcoin / Bitcoin Discussion / Re: Educating unemployed friends about Bitcoin on: May 28, 2023, 03:41:09 PM

Your government made BTC illegal. You don't want them to blame you once the authorities caught them. Only way they can hide it is if they know how to use tools for anonymity which is another lecture to do but you can't be sure how careless they may be.

They are unemployed and my guess is that they don't have something to invest. This should be the first to solve first, its a long way but one at a time before introducing them to BTC.

If I were OP, I wouldn't recommend my friends invest in bitcoin because they need a steady source of income right now, and bitcoin can't help them do that. How can someone without a job invest in bitcoin? The savings will also be exhausted if we use it and don't have any additional sources. Not to mention the investment is very risky, there is no guarantee they will be profitable and out of unemployment.
OP, moreover, it's not wise to give investment advice to others. Have you ever thought if the investment fails, what will happen to your friendship after that?
489  Economy / Speculation / Re: Is buying BTC now, the best option ??? on: May 28, 2023, 03:28:31 PM
But I'm also a little confused about the habits of buyers, do we always have to get used to buying BTC at high prices, while the market is in a state of giving buyers more opportunities.

I also find this true, this is the habit of many people, they refuse to buy when they see bitcoin drop and say they will buy when the price goes lower, but they still never buy when the price drops further. But as soon as bitcoin rose, they rushed to buy in a frenzy for fear of missing the train.

Not stopping there, many people don't even own too much bitcoin but always want the bull market and bitcoin to hit a new ATH. I'm really confused about what those people are thinking because if they don't have a lot of bitcoins, what will they earn when they hit the new ATH?
490  Economy / Speculation / Re: Can I invest my 60% savings in Bitcoin? on: May 28, 2023, 03:20:05 PM
An investor in investing in bitcoins will get his money back at ‍a moment but in altcoins that is not likely. As a result, investing in Bitcoin is more beneficial than taking the risk on altcoins. Scamming incidents often occur with Altcoins where an investor can lose his money completely which is not possible with Bitcoin. Therefore, before investing, it is necessary to check the profit and high risk issues thoroughly. This is a good time to invest in Bitcoin at the current price and trend.

Bitcoin is the safest investment among all the cryptocurrencies and theirfore it is advised or recommended that your 60 to 70% of your poliofolio should be in bitcoins.
Some people think that are altcoins give more return on investments (ROI) so they preferred to invest in altcoins and not in bitcoins.
This maybe true to some extent but the investment in alt coins is also very risky because some of the altcoins may disappear or some scam exit but bitcoin is here to stay and we can fully trust bitcoin when it is about the long term investment.

Indeed, I am not opposed to people investing in altcoins, even myself I like to invest in altcoins because of the profits it brings. But we should focus mainly on bitcoin and only a small part on altcoins. Frankly, investing in altcoins is gambling, so know what you are doing with your money, the higher the return, the higher the risk. Furthermore, the bear season is not a good time to invest in altcoins, altcoins should only be considered during the bull season as they are short term investments.
491  Economy / Speculation / Re: will bitcoin continue to rise on: May 27, 2023, 10:19:48 PM
It is very difficult to accurately predict whether the bitcoin price will continue to rise or not. If you look at the recent crypto market situation, it seems that the potential for an increase in bitcoin prices is still possible. Moreover, currently the price of bitcoin is trading in the range of $26k-$27k. Therefore, it is better for you to hold your assets first and continue to monitor the market so that you do not lose the momentum to sell at even higher prices.
$ 25k to $ 28k is the range of the consolidated Bitcoin price, I'm still grateful that Bitcoin hasn't fallen from $ 20k,
meaning Bitcoin is still strong and has the potential to pump again,
yes the condition is that Bitcoin can be above $ 30k and hold it, then bullish will come,
I hope june marketcap can go up and make the market bullish again.

Why are you afraid bitcoin drops below 20k? While if that happens, we have a chance to buy bitcoin at a high discount. Like the people who bought bitcoin last year for $16k have made huge profits, while many are still scared about the market. To get a big profit, buying low and selling high is the best way we have. So, Bitcoin's drop is something we should be excited about rather than continue to worry about.

June is also usually a bad month for bitcoin based on history, so don't expect too much but instead continue to prepare an accumulation plan if bitcoin's decline continues.
492  Economy / Speculation / Re: Is the bull run near already? on: May 27, 2023, 10:09:12 PM
-snip-

We might see mini bull run maybe can close above 30K level at July
I hope so too, a mini bull run may happen in July after May and June were selling months and experienced a few percent declines.
The last 3 years July has always been a bull run and I also believe July will be the first bull run after the market has been hit by a lot of FUD and more investors are coming in.

Passing the $30k price is an important point for now, hopefully, $30k will be the closest target so that Bitcoin can continue its increase.


I don't understand why people consider $30k a critical point. What is the guarantee that when bitcoin crosses $30k, we will exit the bear season or never drop below $30k? I remember in April, there was a time when bitcoin exceeded 30k $, but then it also decreased continuously until now.
So there is no major milestone for bitcoin, it could still fall back even if it hits $50k, $30k is nothing for bitcoin. Moreover, the price drop is a good thing, not as bad as many fear. I like a market like this, or it could decline further is a good thing that would make for a better buy point for bitcoin right now.
493  Bitcoin / Bitcoin Discussion / Re: Bitcoin Adoption Campaign on: May 26, 2023, 11:15:34 PM
Many people think your idea won't work, but I also believe they have no better idea than you, and they won't do anything to help the bitcoin community like you. I like and support your idea. I think it will affect everyone, many people still don't know what bitcoin is, and they can get a piggy bank with the bitcoin symbol. At least you have succeeded in spreading bitcoin to those people, and maybe some people will be curious and look for it. This is really a simple yet effective form of advertising. Don't forget that many people invest in bitcoin just by chance through pictures of bitcoin on the road, on the internet.
494  Economy / Economics / Re: Why you should use spare money to invest on: May 26, 2023, 10:59:14 PM
Most people agree with OP's point and what OP said is absolutely true. But I really doubt that too many people will do that because we all have greed, and everyone wants to get rich quickly. I still believe many people are supporting the OP, but they are doing the opposite, they are still using their savings and emergency money to invest in bitcoin because they crave wealth. To be honest, to do that is not easy at all, it seems easy to say, but escaping the temptation of money is very difficult.
It's very simple, if the money is just lies in a safe, then they will lose their purchasing power, this is the worst option that you can choose for your capital.

Investing makes it possible to increase capital and achieve financial independence, probably everyone would like to achieve this, but this will not happen if the money just lies in a safe. Of course, to make successful investments, you need certain knowledge, but no one said that this would be easy to achieve, you need to work hard to achieve wealth.

But I'm talking about emergency savings and daily spending money, I'm not talking about idle money in the safe. Using cold money is very common, and there is no argument when we use it to invest instead of keeping it in a safe or a bank. But I don't believe many people will just invest with idle money like OP, and you say, because human greed is huge. I even know some people who always advise others not to borrow money to invest, but they quietly borrow money to invest behind everyone's back.
495  Economy / Economics / Re: Why you should use spare money to invest on: May 24, 2023, 10:50:29 AM
Most people agree with OP's point and what OP said is absolutely true. But I really doubt that too many people will do that because we all have greed, and everyone wants to get rich quickly. I still believe many people are supporting the OP, but they are doing the opposite, they are still using their savings and emergency money to invest in bitcoin because they crave wealth. To be honest, to do that is not easy at all, it seems easy to say, but escaping the temptation of money is very difficult.
496  Economy / Economics / Re: US Debt Default: Good or bad for crypto? on: May 24, 2023, 10:43:17 AM
There are talks among US politicians and economists about the country defaulting on its national debt. Congress usually approves raising the debt ceiling, so I don't see what's the issue here. But if somehow the US defaults, how would the crypto market react? Positively or negatively? The USD is the reserve currency of the world, so it's likely everything (stocks, crypto, etc) will crash alongside it.

What do you think? Is a US default good or bad for crypto in the short term? Your input will be greatly appreciated. Thank you. Smiley

In my opinion, the default in the US will start a global recession.

We will see a drop in business activity worldwide.  Countries that export metals and hydrocarbons will suffer the most.  In these countries, the situation with the economy will be catastrophic.

The United States will also suffer, but to a lesser extent.  In Europe, everything will be quite stable, and the euro will rise against the US dollar. 

Gold and Bitcoin will rise in price very strongly.


The entire European economy mainly depends on the US, and if their big brother collapses, I don't think they will be much more stable than the US. No one will be stable in the event of a US debt default because they are the center of the world economy as well as the holder of the world's money printing machine. But you're right, assets like gold and bitcoin will go up a lot because the demand for safe havens will spike there. That will benefit bitcoin but I don't expect it to happen because it will have a huge negative impact on our lives.
497  Economy / Economics / Re: Why is money ruling the world? on: May 24, 2023, 10:28:36 AM
Though I've seen a video in social media that he is really living without money which he just find foods at garbage or plant on his own , or find some fruits in park but again it is difficult thing to do.

You still live without money, like how the tribes in the deep forest still exist, and to live without money, you need to move to where the tribes are. But if you live in today's modern world, no money means you are at the bottom of society and will even die without anyone caring about you. It can be said that money is ruling us even though it is man-made. I can't imagine how I would live without money for a day, let alone for a long time.
498  Bitcoin / Bitcoin Discussion / Re: Bitcoin retirement benefits on: May 24, 2023, 10:20:17 AM
You have a point there. After all, bitcoin is a very new asset and still not widely accepted, so there is still a lot of risk, and it would be a bad idea to bet our future entirely on bitcoin.


I don't think Bitcoin should still be considered a new asset. If Bitcoin were to be a person, that is, a foreigner living in a foreign land, 10 years is enough to make it a citizen of that country, which will consider it not to be a stranger any more. So to me, Bitcoin is actually no longer a new asset as far as I am concerned, and if I may ask, how long do you want Bitcoin to stay before you can consider it old enough to be worth your investment or pass the risk requirements?

I call it new because I am comparing bitcoin to gold and real estate, 2 assets that are thousands of years old, while bitcoin is 14 years old, if it is not new, it is too young. It's risky not just because it's young but look at its capitalization, its popularity. The market capitalization is just over $1 trillion, which is 1/10 of gold and 1/80 of the stock market. Many countries have yet to recognize it as a real asset...all of this suffices to say it's too risky. But in return, the higher the risk, the higher the profit potential.
499  Bitcoin / Bitcoin Discussion / Re: Bitcoin retirement benefits on: May 23, 2023, 03:49:47 PM
It's not doubt that Bitcoin is best for retirement but I won't gamble my future with just Bitcoin only, that's too risky, Bitcoin is no doubt the best digital currency but when we are talking about retirement plans it should not be the only plan you have, we don't know what the future of Bitcoin will look like and I am not ready to gamble on that, instead you have to be prepared for any possibility,  nothing in this world is guaranteed and just because Bitcoin is the best doesn't make the risks gone forever.

You have a point there. After all, bitcoin is a very new asset and still not widely accepted, so there is still a lot of risk, and it would be a bad idea to bet our future entirely on bitcoin. I bet people are blind to bitcoin profits, and people always assume that bitcoin is the best, and they forget that everything is risky, bitcoin is no exception. I will diversify my assets to secure my future, I don't want to be a homeless old man when I put all my faith in bitcoin.

There's no guarantee that Bitcoin would be accepted worldwide as currency currently but in the next decades probably it would be acknowledged by more countries as we have seen today. That's why I agree that it's still risky to put all your funds in Bitcoin so it would be better to split it into fiat money and some to Bitcoin. It's still better to have an investment for the future even you're not sure since it's part of the volatility of Bitcoin which involved risk. If you are not sure enough about Bitcoin why not spread your funds into some alternative coins, just do your own research cuz it's good to not put all your funds in one basket.

Instead of fiat, I will choose gold and bitcoin for my old age, I don't think fiat will keep its value until I retire. And I agree with what minaria3 said, investing in altcoins is not considered diversification, and they don't help you to reduce risk. I don't hate altcoins, but investing in them is like gambling and more suitable for the short term than the long term. Aside from ETH being a special case, do you see any altcoins that can survive and increase in price over time, like bitcoin? None, and all of them will die or be replaced by newer projects over time.
500  Bitcoin / Bitcoin Discussion / Re: Bitcoin retirement benefits on: May 23, 2023, 01:55:25 PM
It's not doubt that Bitcoin is best for retirement but I won't gamble my future with just Bitcoin only, that's too risky, Bitcoin is no doubt the best digital currency but when we are talking about retirement plans it should not be the only plan you have, we don't know what the future of Bitcoin will look like and I am not ready to gamble on that, instead you have to be prepared for any possibility,  nothing in this world is guaranteed and just because Bitcoin is the best doesn't make the risks gone forever.

You have a point there. After all, bitcoin is a very new asset and still not widely accepted, so there is still a lot of risk, and it would be a bad idea to bet our future entirely on bitcoin. I bet people are blind to bitcoin profits, and people always assume that bitcoin is the best, and they forget that everything is risky, bitcoin is no exception. I will diversify my assets to secure my future, I don't want to be a homeless old man when I put all my faith in bitcoin.
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