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41  Bitcoin / Bitcoin Discussion / Re: US file a lawsuit to recover funds from a hack by North Korea on: September 05, 2020, 02:52:21 PM
Bitcoin is very transparent by design, never use it for crime.

Agreed. The report also showed that the cryptocoins used for chain hopping were Algorand, Ethereum and Bitcoin. Why? Clearly the coin to use should be Monero. The hackers would be laughing while exchanging them to Bitcoin or fiat.

I am skeptical about the report.

It is obvious that this person understands what he is talking about. This report has nothing to do with reality. Hackers would never take such a stupid step. What for? Similar situations have already happened in America and Japan in 2019 (read Google). Everyone has long understood how this works and to think differently in my opinion is just stupid in 2020.
42  Bitcoin / Bitcoin Discussion / Re: Why I like to learn and use bitcoin on: September 05, 2020, 02:48:09 PM
There are so many opportunities in bitcoin.Because it can help you big time especially in financial.If you have a financial problem I highly recommend you to use bitcoin.And you can use it to pay bills in supermarket in other country like america I'm not sure if in our country there accepting bitcoin to pay bill.Just use bitcoin and you find out how helpful bitcoin is in your life.It can change your life big time trust me.

Bitcoin can change your life in the opposite direction. Many people investing in bitcoin without having a financial education or at least not familiar with financial literacy lose large amounts of money and then blame bitcoin for the fact that it is a bubble or pyramid. I always say that first of all theory, and only then practice.
43  Other / Beginners & Help / Re: How Cryptocurrency rates especially BTC Fluctuate so quickly? on: September 05, 2020, 02:45:31 PM
I always wonder How Cryptocurrency rates especially BTC Fluctuate so quickly? I mean is there any system on which there rates are decided? If so, what is it?

As in a normal financial market, the price depends on the events (political, economic, social, and technological) taking place in the world. For example, if a war with America begins in Iraq, then we should clearly expect a movement in the dollar in the near future. Or for example, the coronavirus has hit the financial sector very hard.
44  Bitcoin / Bitcoin Discussion / Re: Some Influencers Are Not Helping on: September 04, 2020, 11:21:04 PM
This Dave Portnoy figure was completely unknown to me until he tweeted about Bitcoin. It was a strange video of him ranting about what Bitcoin is and if he could mine it on the internet with some plastic hammer he held or something similar, (I don't even remember what I saw, it wasn't significant anyway). The continuation was strange though as in his next video Portnoy was asking the Winklevoss twins to visit him and explain Bitcoin and how it works. At some point, it was obvious that the whole thing was a staged ad that included affiliate promotions to Portnoy's 1,7 million twitter followers.

Not only the Winklevoss twins failed to present a decent case for Bitcoin, but the next day they've also proceeded with asking him to promote Chainlink, a controversial shitcoin when it was right on the top of a bubble. So Portnoy told his followers to buy an ERC20 token that was at the top of the pump 'n dump phase. Was this all random and happened spontaneously out of the Winklevoss pure love for alternative cryptocurrencies? Why ask him to talk about LINK anyway? It is looking carefully planned as well.

Now I don't blame Portnoy for this, he does not care about Bitcoin or his followers. I care about how ridiculous crypto twitter has become, how terrible all of this was handled and that three years after the whole shitcoin bubble phase we haven't learned a thing.

There are people on twitter that have Bitcoin bags and just want to shill them. I get it. Honestly, I wish I also wasn't strict and went all-in in March instead of buying the dip but small. Some people make sense and then there are some that just because they bought a tonn of random altcoins they unleash thousands of paid shills to promote them. The moment people that used to be just about Bitcoin started shilling DeFi, Chainlink, Band, Compound, yield farming, etc. it becomes very disappointing.

Bitcoin is not taken seriously this way. Gemini lost a lot of points by shilling a shitcoin, Binance is not respected outside the crypto space and Coinbase is close to becoming Bittrex with the number of shitcoins they've added.

It is their business model but perhaps they should understand that they should stop harming Bitcoin by reducing it to the same level as alts. At least exchanges should pretend that they are following the rules. Pump 'n dumps are not the rules. The financial world is observing these mistakes that keep happening for years. The CEO's of cryptocurrency exchanges are major crypto influencers and should be very careful about promoting anything else besides Bitcoin unless they want to damage both Bitcoin and their businesses. The damage to Bitcoin won't be permanent though as we've learned from the case of Mt.Gox.

Most of us remember the phrase from Wolf of Wall Street: "Once we've suckered them in, we unload the dog shit". I thought that the whole community and especially exchanges were trying to call themselves financial institutions and escape the quick cash-grab logic. Is this really what they want?




It became clear to me from the very beginning of this story that these are all staged shots. I have a long experience in cryptocurrency has already developed a strong inner feeling when I lie from the screen of another " Specialist!". There even facial expressions and the way to talk and present the material very much gives out charlatans immediately.
45  Bitcoin / Bitcoin Discussion / Re: Biggest Bitcoin giveaway scams and how can you avoid them on: September 04, 2020, 11:19:39 PM
Just a simple step don't send out money or Bitcoin if it is a giveaway then why would you need to send first before receiving it?
That is the only thing that you should never forget on crypto or in every currency.
Just ask yourself why would you even need to pay in order to receive a free giveaways?
Sometimes there are services where you really need to make such a Deposit to withdraw money. This is a normal practice especially for a casino or a betting aggregator. This is the usual protection against bots and robots that conduct automatic mass registrations, thereby receiving some bonuses from the platforms.
46  Bitcoin / Bitcoin Discussion / Re: VPN for cryptocurrencies? on: September 04, 2020, 11:19:07 PM
Somehow using VPN makes me feel safe while working with cryptocurrencies, like transactions, payments and buying bitcoins. I've been using surfshark vpn for almost 3 months now and I guess it's okay. I haven't really tried other VPN's though for I don't want to risk my wallet just to try other VPN. You know, like what's the point if I have my door lock for months and it's not even rusted. The largest risk with cryptocurrency is that online exchanges are vulnerable, as mentioned, to hacking they say. I know some may already experienced this kind of problem, and I wonder how you manage to solve this. As someone who hasn't encountered such, I think it's a good opportunity to ask someone who does and help me point out what other things to do to secure not just my wallet account but also my other personal accounts. Cool Cool

The analogy with a lock is interesting, but there is a small problem with it. Imagine that you have a lock that has been showing its best side for many years, and suddenly at one point it is hacked and you take out everything that is available. Will you continue to use this lock? After all, he failed only once... think about it!

47  Bitcoin / Bitcoin Discussion / Re: Is Bitcoin such a big risk? on: September 04, 2020, 11:18:45 PM
Many people I know formed a bias that cryptocurrencies are inherently risky and you shouldn't invest in them more than you can afford to lose.

I agree with the above statement in a certain extent, but I'd like to ask the community. Is it riskier to place your money in Bitcoin or hold them in a fiat savings account? What's your opinion?

So curious to see the response especially today when we live in times of crisis.
Of course, it is safer to keep money in a savings account in a Bank, because banks have the function of guaranteed money back in the event of devaluation and financial crisis. In Russia, for example, one and a half million is a guaranteed amount of money back in case of complete bankruptcy. I think other countries also have similar capital preservation programs.
48  Bitcoin / Bitcoin Discussion / Re: Will Bitcoin replace Gold someday? on: September 04, 2020, 11:18:20 PM
Surpassing gold maybe, but bitcoin totally replacing gold is a NO-NO. Bitcoin and gold are 2 very different assets bitcoin can go head to head on price and popularity with gold but bitcoin would never overpower gold. This has been discussed a lot of times already and the answer will be always NO. Both of them have their own market who can dominate so stop comparing these 2.

It is clear that bitcoin and gold have two different markets, but the value is determined only by the price to a greater extent. If bitcoin is more expensive than gold, so it is more valuable, why can't it be the first? I think that these are stereotypes about financial movements in principle. Everything is possible, but in long-term periods.
49  Bitcoin / Bitcoin Discussion / Re: Is putting public bitcoin address for donation dangerous for your privacy? on: August 30, 2020, 04:59:10 PM
Yep. Every transaction you make potentially leaks a little information about other transactions to/from your bitcoin wallet.

That's why I always say "bitcoin anonymity is complicated" and "bitcoin transactions are more private than credit card or bank transactions, but less private than cash transactions" or "staying completely anonymous while using bitcoins is hard."

And that's why you won't find (or, at least, shouldn't find) any claims that bitcoin is anonymous on the bitcoin.org home page or in the bitcoin source code.

What can you do? Use separate wallets. Make your donation address an instawallet or mybitcoin address that you don't use for anything else.

You must create a separate wallet for each of the donation options. Then the security will be much higher if you immediately post your main bitcoin wallet. Anonymity is still present, but it is not so anonymous that it would not track the conclusions and transfers of large amounts. Be careful with your transactions.
50  Bitcoin / Bitcoin Discussion / Re: Barriers preventing you from using bitcoin today/advantages of using bitcoin? on: August 30, 2020, 04:54:48 PM
I like that it can't be stopped because there are so many different miners mining all over the world. It is not as if it is a few companies mining and if they disappear, bitcoin disappears. That security feels good. The fact it is not in the hands of companies or governments. Being in control and not needing any external help like you do when you set up a bank account. Spending and using it is also easy and fun. Again no reliance of a banking system which is great.
There is support for the banking system, but it is not so obvious. The liquidity of bitcoin still depends on its binding to the value of the Fiat currency. gold is also involved in these processes. As long as there is money and its value, there will also be bitcoin, as an alternative to the generally accepted calculation option.
51  Bitcoin / Bitcoin Discussion / Re: Can Satoshi Stop bitcoin? on: August 30, 2020, 04:51:32 PM
No, and I don't see any reason why he would ever want to do that seeing the revolution he has caused in the financial industry. Moreover, the power supporting the bitcoin network is now decentralized and in the power of the people hence Satoshi can't stop it but he can surely threaten the market if he decides to move the genesis coins and dump them.
Given how popular and decentralized bitcoin has become, it is impossible to stop these processes, just as it is impossible to disable the Internet on the entire planet at the same time. Just think why do it? Every time someone asks such innovative ideas on the planet somewhere one Satoshi Nakamoto cries)
52  Bitcoin / Bitcoin Discussion / Re: Research and Experience, There’s No Other Way! on: August 30, 2020, 04:48:18 PM
I'm not sure that I agree.There is a basic level of knowledge required, but one does not have to have an in depth technical knowledge. Obviously one needs to know about wallet security, and have an overview of the blockchain and transactions and fees. After all. everybody uses the fiat system, but how many people understand the role and ownership of central banks, or fractional reserve banking, let alone SDRs and the various derivatives in use at the moment.

 You don't need an understanding of the specific role of money authorities, or even the Bitcoin network, to use it, for sure... butI'd say it's one of the shortcomings of using Bitcoin, really, that people do need a bit more knowledge than basic level to safely use Bitcoin.

Right now, any given Bitcoin user is probably not using Bitcoin as it should be, and therefore, are putting themselves at a risk they don't quite understand yet. All those Coinbase wallet users, or even exchange wallet users, for example. They're okay until the exchange gets hacked or goes bust. We're getting there, but we have to accept that research and experience are the necessary tools to protect yourself when using Bitcoin.

There is one very simple solution - do not store money on exchanges and exchanges. There have already been so many sad experiences when users left their savings on the exchange and then broke it and withdrew a huge amount. I believe that it is better to pay a little more Commission and keep the funds in your wallet than to put them at risk on the exchange's wallets.
53  Bitcoin / Bitcoin Discussion / Re: Bitcoin and me (Hal Finney) on: August 29, 2020, 11:45:25 PM
Thank you so much for your post. This is really something that inspires and makes you live every day. Such people as you should write more often on the forum and please us, ordinary mortals. I am very grateful to you and hope to make friends and communicate in person in the future, if possible! Good luck!
54  Bitcoin / Bitcoin Discussion / Re: When Bitcoin Maximalists are Promoting/Shilling an Altcoin on: August 29, 2020, 11:43:08 PM
Correct me if I'm wrong, but as far as I know, it's not though. I think what they're offering is business equity, just through a blockchain(not saying it's a good idea).

That's what I'm saying, why do investors need a blockchain token for equity instead of the traditional approach? There's not much advantages but there are risks. If this method was clearly superior, you'd see a lot of big names doing this, but it has been 5 years since Ethereum launched and no big companies or traditional exchanges rushed to adopt it for their operations. And 5 years is a lot in tech, it's more than enough time to adopt new frameworks and protocols if they clearly have advantages.

All because there are companies that work only for long-term loans. Companies like Ethereum. And there are companies that make a startup that takes off, then generates revenue at the moment and then fades. This is quite normal. There are small teams and profits are much smaller. Calm down! Everything is as it should be!
55  Bitcoin / Bitcoin Discussion / Re: A Sovereign Bitcoiner's Manifesto on: August 29, 2020, 11:34:41 PM
To me it seems that there is a segment of the Bitcoin community that are actually fearful of Ethereum. They try to protect against this by making it their mission to FUD everything that has the mere whiff of Ethereum. An unfortunate side effect of this is an inability to acknowledge any benefits that might come from smart contracts - which is ironic, since one of the true Bitcoin OGs , Nick Szabo basically invented the smart contract concept.

To my mind, Bitcoin has nothing to fear from Ethereum... any more than Bitcoin has anything to fear from any of its other testnets. The only thing we have to fear is the mental stagnation that comes with throwing the baby out with the bath water. I am not willing to concede smart contracts to Ethereum. We invented them, they are ours.

There is no point in white being afraid of black and black being afraid of white. Bitcoin and Ethereum are common competing systems that develop at the expense of each other. Competition has always been and will always be the engine of trade and development of any systems. This is a pattern of life confirmed over the years.
56  Bitcoin / Bitcoin Discussion / Re: Bitcoin and Mobile Gaming on: August 29, 2020, 11:32:04 PM
It would be beneficial for Bitcoin if the whole traditional system would be replace by Bitcoin. Then gamers, phone or Desktop could earn from it especially streamers.
Im fine right now for Bitcoin as an asset because micro and macro transaction is to early for Bitcoin at the moment.

I have been using bitcoin for a long time (about 5 years) and every year my opinion about it gets better and better. Yes, of course, there are different periods: sometimes we lose, sometimes we earn, but the realization that this is an anonymous source and the complete absence of taxation seems to me to cover all the disadvantages.
57  Bitcoin / Bitcoin Discussion / Re: US file a lawsuit to recover funds from a hack by North Korea on: August 28, 2020, 10:21:14 PM
If the US government is filing this in the court, I have every reason to believe they already have a way to gain control of these funds because it just does not make any sense to go through this stress and still be bothered about how to ensure control. From the look of it, they only need the legal backing to ensure their actions are not declared ultra vires and its a good one because its shows an organisation willing to follow due process. The narration of North Korea is just to further establish the hostility between the nations and not that they are expecting compliance from that part of the world.

It seems to me more and more that the conflict between the US and North Korea is very inflated in the media and has no solid ground. It does not go beyond the statements of Prime Ministers and presidents, and as for weapons, the United States has a huge advantage here, and this is obvious to everyone. So the control of funds can be a joint solution that is beneficial for both sides.
58  Bitcoin / Bitcoin Discussion / Re: New information from Satoshi? on: August 28, 2020, 10:17:06 PM
There have already been a lot of different information and different versions about the personality of Satoshi Nakamoto. Satoshi Nakamoto took the necessary steps to hide his identity. He either counted on never to be revealed, or must prepare evidence in case his identity is revealed.
Therefore, if the real Satoshi himself does not want to appear, all actions to establish him will be ineffective. Any versions, guesses and assumptions will not lead to anything.

True, but it is more likely that there is no Satoshi Nakamoto. Most likely, this is a group of programmers performing a secret order for a form of payment that cannot be tracked. It is even possible that this is a government project for pumping and laundering money. It seems unlikely to me that one person can create a product of this scale.
59  Bitcoin / Bitcoin Discussion / Re: Patience above all will be rewarded here on: August 28, 2020, 10:12:11 PM
I remember 2017, all altcoins dropped drastically in July and quickly regained their bullish momentum in October-November-December and all hit ATH. The market has been continuously decreasing since December 2017 and the market has been active again at the moment. The difference now is that there are more altcoins with more and many old altcoins cannot increase in value. Those are the dead cryptocurrencies. I have confidence that by the end of this year the market will record a breakthrough growth rate more strongly than in 2017.

About bitcoin, too, thought that he died after a rapid fall from 19,000 to 3,000. And then everything went back to normal and leveled. Of course, you can't do anything with huge volatility, but not all bitcoins are dead. If an investor starts pouring serious money into it, it will take off and no one will be able to prevent it. So anything can happen.
60  Bitcoin / Bitcoin Discussion / Re: Accepting Bitcoin for sales in a volatile market. on: August 28, 2020, 10:02:28 PM
I'm going to revive my domain name sales business, and I want to offer Bitcoin as the primary payment method. The problem is pricing in a volatile market. I believe that Bitcoin is going through a correction at the moment
Either you have cushion of funds to not be afraid of volatility of Bitcoin or you convert immediately.
This way you take risk only if you are able to or you don't.
So this is not something to be afraid of.

I think if you are afraid of losing money, it is better not to deal with cryptocurrencies at all, because trading is almost always associated with losses of serious amounts. If you want to make good money, then be prepared to lose more. Experience is not earned just like that - only through difficulties, pain and loss.
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