|
141
|
Bitcoin / Bitcoin Discussion / Re: Banks and Bitcoin- The needed change
|
on: December 03, 2021, 03:52:54 AM
|
The government will always protect the banks no matter what, even when we hear about the severe economic crisis that the country is experiencing. As some news reports say that bitcoin is being lauded as a proven solution when Lebanon is going through a financial crisis, but local banks are still open to services.
In addition, the various comforts of people will fight against each other. Bitcoin's built-in mechanics are naturally unchangeable and not everyone likes such payment systems even if they have adapted.
Not all people in the world adopt bitcoin so that banks can be eliminated. only a large proportion of people adopt bitcoin and are able to transact using bitcoin as a medium of exchange, while small communities do not use bitcoin because they cannot afford to invest in bitcoin, so the small community only uses fiat money as a form of transaction money using banks as the medium. |
|
|
|
|
142
|
Bitcoin / Bitcoin Discussion / Re: are crypto owners naturally paranoid?
|
on: December 01, 2021, 03:12:30 AM
|
I would never store my hard earned coins or tokens in an exchange even if it’s Binance or top exchanges out there. They are not exempted from getting hacked anytime without warning like the last time’s incident. Cold hardware wallet is much better because you are solely having 100% custody of all the coins and tokens that you have stored.
Yup, that’s correct. I can’t even do that too, I see some people say that they are making use of hot wallets/exchanges for storage of their coins and I’m usually surprised, because the kind of risk that is involved. Although this rarely occurs with the big exchanges such Coinbase and Binance, but they do happen and have happened a few times, just like when Binance got hacked, although it wasn’t a serious case. But, people really have to start being careful so that they don’t regret later. It’s good to have different wallets, one can be a cold storage where you main assets are being stored, and the exchanges will only have assets that you plan on trading for that day or so. If you keep everything on exchange and it gets hit by hackers, you will be losing everything. Of course, every business must have work risk, risk of loss and risk of loss. As a professional, of course, you must have a backup strategy to overcome the risk of losing your assets. make securing your wallet as difficult as possible so that it is not easily hacked by third parties in your crypto. In addition, do not store all your assets in one wallet or in one crypto, try to store in several wallets in case hackers still have other backup assets. |
|
|
|
|
143
|
Bitcoin / Bitcoin Discussion / Re: NO..India is NOT Banning Bitcoin
|
on: November 30, 2021, 05:41:00 AM
|
The FUD continues. India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks. India is looking to ban bitcoin as a method of payment. Meaning they are just trying to protect the interests of their future CBDC. People in India will NOT be banned from buying or selling bitcoin. The government has NO interest in banning bitcoin as an asset. Source: https://blockworks.co/india-crypto-ban-about-payments-not-the-asset-class/
If India has no plan to ban Bitcoin so why the rumor and sentiment of pulling it out from method of payment. Bitcoin is a universal asset and I don't think the India government can actually stop it from use as a payment method. Individual traders and customers would determine whether they want it as a method of payment or not and the government looking at it can not totally stop people from the use. I think the Indian government has a good solution for its economy by not sacrificing the local currency. Indian society can adopt bitcoin as much as possible and the government does not prohibit it, but prohibits bitcoin from being a legal tender or payment. On the other hand, the government will benefit from FUD which continues to circulate among the community, with the poverty rate continuing to decrease. |
|
|
|
|
144
|
Bitcoin / Bitcoin Discussion / Re: are crypto owners naturally paranoid?
|
on: November 30, 2021, 05:19:06 AM
|
This thread quite somehow make me laugh  Ofcourse not, crypto holders or owners aren't naturally paranoid. How can you expect to take control of your investments if you're paranoid, I expect that instead you're making gains, you're actually losing. Well on other hand, being paranoid sometimes is quite helpful because you start to question yourself that "is your wallet safe enough against potential hackers?" And in that point you make a move to settle it once and for all to update your wallets and make sure it's safe and secure while you're not checking it nor sleeping. all their crypto owners are people who are aware of their every action, but once the transaction is done naturally sometimes they become paranoid. I think this kind of incident is natural because when the market price starts to fall, the fear of losing its assets will inevitably occur, even though some people can control it. Feelings like that can be said to be paranoid but not a mental disorder that continues to occur. |
|
|
|
|
145
|
Bitcoin / Bitcoin Discussion / Re: For those holding BTC for the long haul, do you earn interest on your stash?
|
on: November 30, 2021, 05:05:21 AM
|
I have been reading up on some interest accounts out there for BTC and Altcoins and the yields are really good especially when benchmarked against fdic insured fiat.
What’s your take on this? Is this a good or bad idea?
for me storing BTC has two views on the benefits that are obtained by a person who keeps it and both have their own advantages. The first is storing in your own wallet, you get a profit when the market price rises and can be sold at any time, while the second saves it to the party when you get a fee or interest from the income saved by the owner of the BTC asset. So both have their advantages and disadvantages. |
|
|
|
|
146
|
Bitcoin / Bitcoin Discussion / Re: WHEN DO YOU BUY BITCOIN?
|
on: November 28, 2021, 02:25:12 PM
|
|
If you are investing in bitcoin for the long term, this is a very good time before bitcoin breaks through new ATH. but if you want to invest in bitcoin in the short term, just wait for the weekly market price correction and you don't need to wait for the long market price correction, because it's difficult to predict when it will happen.
|
|
|
|
|
147
|
Bitcoin / Bitcoin Discussion / Re: Safety
|
on: November 28, 2021, 02:10:28 PM
|
Since cryptocurrencies started, theives have already found it appealing to target. I think security will be always be questioned since some people tend to use wallets that are convinient to use. I hope people do realize its true value and use them wisely.
As far as I know, there is nothing 100% safe called an online system, especially when it comes to finance and business, especially bitcoin. many hackers are always committing crimes against the cryptocurrency system that is currently developing. one of the best solutions so that bitcoin assets are safe, delete transaction history or access history every time you carry out transaction activities, so that it is not easily hacked by others |
|
|
|
|
148
|
Bitcoin / Bitcoin Discussion / Re: First Bitcoin City
|
on: November 28, 2021, 05:42:21 AM
|
El Salvador showed a lot of things we didn't expect to be the most loyal country in Bitcoin. And they deserve to spark a Bitcoin city where Bitcoin's presence is welcomed in this country. Whereas previously Bitcoin was an enemy that the government of a country had to fight. But El Salvador opened our eyes, that Bitcoin can live among us without needing to attack each other. Because the merger of the government with Bitcoin actually became the beginning of a pilot country to open the world's eyes wide to the existence of Bitcoin.
The el Salvador president have seen the future and what the economy stand to gain from this initiative to adopt cryptocurrency as a full legal currency, establishing this Bitcoin city will serve as a business hob for cryptocurrency activities which will be first in the world. I think everyone does but it looks like El Salvador accepts the challenge and is willing to change its system by welcoming Bitcoin into their country. It has going to appreciate that much and this adoption makes the other countries to give some interest and possibly watching to what is happening in this country. But it looks like they are totally embracing and growing their funds and it can be said that this creates additional attraction and literally it boosts the trust of the merchants towards Bitcoin. good move if you be the first to do it, the other will learn anything about this country, and they can be great than this country. but, first achievement always stick in there. and yeah, boost will be given to bitcoin itself and the other thing that related with bitcoin. promise will haunt because of government move. El Salvador is trying to become a country that is a strong country in the future economic system by strengthening the economic system through bitcoin so that El Salvador dares to take decisions in increasing transactions with payment systems via bitcoin ATMs. So it's no wonder El Salvador will be the first bitcoin city to legalize it. Other countries still have a level of pros and cons of legalizing bitcoin in their country, El Salvador has been a driving force for other countries to adopt bitcoin. |
|
|
|
|
149
|
Bitcoin / Bitcoin Discussion / Re: Have you spoken to Satoshi ?
|
on: November 27, 2021, 03:24:37 PM
|
Probably some might encounter seeing Satoshi and i think those set of group of people that started this platform in 2009 when bitcoin is first introduce might be in any other way come contact to Satoshi during that period, but i think many of have left the community and maybe the remaining once is not that active, but believe before he Left the community he heard conversation or interaction with many people, which theymos is one of them, shall all these is assumptions.
it's really hard to know who the satoshi is, as some sources say if they don't know who the satoshi really is, what their background is. I don't think satoshi will have an impact, because it is very influential with the security and safety of the bitcoin coin itself. many hackers who decide to destroy the creators of bitcoin, because behind the background there will be a force that can bring down the bitcoin market in the future. |
|
|
|
|
150
|
Bitcoin / Bitcoin Discussion / Re: How reasonable is it to invest in Bitcoin in the current situation?
|
on: November 27, 2021, 02:41:39 PM
|
It may be their different choice to buy or wait for the Bitcoin price to experience a very bad decline. some people will also regret not making a decision last year by keeping Bitcoins. you can see the current price of Bitcoin which is very surprising. maybe next year will surprise others with the latest prices.
I'm actually like that too, bro. The beginning of knowing bitcoin through the price of dump continues. Even in view. The fact is that it continues to rise every day. Even if you take the momentum it may be good. Although the parent of altcoins but still bitcoin is more special. What would you like if bitcoin was getting rarer? Before that happens I will try to buy a large amount of Bitcoin and try to invest all my money in Bitcoin later. maybe I can sell my house to invest it. the rarer the Bitcoin, the higher the price that will appear every year. you have to think about the good impacts that will arise and arrange strategies to avoid big losses. in many markets we can see that the bitcoin market is currently experiencing bearish and is very good for those who invest at this time. Don't wait for the market to go up before investing, it seems like the time of opportunity is very high. as has been analyzed by observers, if bitcoin will penetrate ATH only later this year or more precisely the end of December this year. |
|
|
|
|
151
|
Bitcoin / Bitcoin Discussion / Re: Governments planning a Crypto Crackdown?
|
on: November 27, 2021, 04:39:33 AM
|
Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining. Should we be worried about this? Such cases often occur in all sectors, especially the market competition sector. so there is no need to worry about such an event, because it can cause panic selling everywhere. bitcoin has entered the world-class investment and everywhere has begun to adopt bitcoin, so that the government can no longer control the global economy. |
|
|
|
|
152
|
Bitcoin / Bitcoin Discussion / Re: Childrens Wallets
|
on: November 26, 2021, 04:00:06 AM
|
I would like to set up a wallet for each of my kids and start saving accordingly. I am not sure it is the best idea to create new accounts with DEX's under my name where the future owner will be my kids. Any ideas on best practices a for this?
No need for you have make new wallets under dex's. You can make them new wallets with any common and reputable wallets. Like if you are using a hardware wallet, you can name wallets for them. And if you use desktop wallets for them, you can also make one for them without having problems. You just have to keep the private keys for each of them. Well as long as you are holding the private key that is a safe wallet to store your bitcoin, there are 3 kinds of bitcoin wallets which are I know to store bitcoin safely. It should you have to control the key like [paper wallet], [hardware wallet], and the [air-gapped device wallet]. All of them you hold the key so perhaps that is very safe in storing bitcoin for a long time and keep the private key safe so that no one will access it except your children. There's no problem as long as you're holding your private key. It's all that matters and you can import that whenever you can. The thing is about how they'll keep the private keys. Or before he gives it to them. Maybe before they turn 18 or until they understand how wallet works and if they know how to make their own wallets and understands the concept already of bitcoin and wallets. Looks like the OP is worried enough about the future of his kids to have to think about making a dex wallet for his kids. I think it's not necessary to worry about preparing a wallet for children from now on, you just need to invest bitcoin for yourself and save it well, after your child is old enough and has understood about cryptocurrency, you just need to transfer the bitcoin to your child, done and not too much trouble. Looks like the OP is thinking of a wallet for kids like building a house or building. |
|
|
|
|
153
|
Bitcoin / Bitcoin Discussion / Re: What if governments make Bitcoin centralized?
|
on: November 26, 2021, 03:09:33 AM
|
Have you ever thought about Bitcoin becoming centralized someday? The ever-growing mainstream adoption of Bitcoin worldwide will only lead us closer to such scenario. To our surprise, El Salvador became the first country to adopt Bitcoin as legal tender. The more popular the cryptocurrency becomes, the more countries will be tempted to follow El Salvador's footsteps. Imagine governments making their own mining facilities, or even buying pre-established mining companies in order to gain a piece of the pie. If they manage to control more than 51% of Bitcoin's hashrate, the cryptocurrency will effectively become centralized. That, and the fact that they already control centralized exchanges is a very alarming situation for the future of Bitcoin. Of course, the only way governments worldwide will be able to control 51% of Bitcoin's hashrate is if they unanimously agree on using Bitcoin is a "One World Currency". This may all sound crazy, but we cannot ignore it from happening in the future. What are your thoughts? Will Bitcoin be able to remain decentralized for the foreseeable future? Or not? What do you think will happen if governments fully embrace Bitcoin as the replacement of Fiat? Your input will be greatly appreciated. Thanks.  Good thing that bitcoin is decentralized already and there's no way they could make it centralized by cheating or hoarding coins, it would totally make no sense even if they wanted to, bitcoin had far started more a decade ago, government would take action at large as late as today. Take for example China, we all knew that they're trying to control cryptocurrencies or atleast make them an overseer or middleman about the transactions, but look at China now, they have given up already and took a legal action to ban bitcoin across mainland China. And I don't even trust that move by the Chinese government. Do you really think they don't possess any Bitcoin? I just can't believe that. China is a big player in literally any important game all around the world and just think about the idea that they gobbled up loads of Bitcoin when it was between $500 and $5000. 200k BTC at $5000 is just a billion USD. That's pocket money for them. Now think about the idea that they started way earlier than that. There is a real possibility that they own enough Bitcoin to certainly not miss out on the incredible potential it has financially and perhaps even geopolitically. Lots doesnt have that trust on the government specially on banning something but they do actually possess something which it isnt really that surprising for that kind of behavior. You couldnt really trust up on any decisions that they would make and of course they would do actions that they would benefit them out and wont really be tending to go to the path on which they do seems that it will really be a disadvantage to them. Making bitcoin centralized? We know it is technically impossible thats why they do focus on platforms that is attached to it. I think, not all countries can think like the country of El-Salvador which legalized bitcoin as a legal currency. every country has strong fundamentals and of course every country has a different philosophy. so to become one world currency, it is really impossible except to make bitcoin a legal digital business in every country and not as a legal currency to be transacted. |
|
|
|
|
154
|
Economy / Speculation / Re: Bitcoin is recovering
|
on: November 26, 2021, 02:59:34 AM
|
|
a few days ago bitcoin experienced a slight correction in the market price after reaching a high of $68k two weeks ago. now that bitcoin has recovered and has started to bounce back, could this be an early start to enter December with a new ATH or stay between $60k - $70k in early 2022.
|
|
|
|
|
155
|
Bitcoin / Bitcoin Discussion / Re: Banking system and BTC
|
on: November 25, 2021, 02:24:25 PM
|
Banking system is another thing and BTC is another. In banking system you invest you worth and you are then fully depends on bank and their system but here Bitcoin is a online bank in it self its full in your hands you can use it anytime everywhere.
Most of us do not invest in the bank, we just use the service of banks because we like to save our money, to make it safe as they have insurance. However, we should not expect that putting our money in the bank will help us gain profit as it will never happen, reasons are because of the inflation rate per year while the banks do not provide good interest to the deposits for their savings, so use the bank to save money, not ot invest, because the right way to invest is putting your money in crypto or in real-life business. Banks and BTC have a high correlation where bitcoin needs bank services to deposit into BTC and with digital money like BTC, many have now raised a lot of funds to banks due to the move from BTC Financial services such as banking or called banks. So we cannot assume that in the next 10 years the banking system will disappear, instead it will increase further due to frequent transactions everywhere. |
|
|
|
|
156
|
Bitcoin / Bitcoin Discussion / Re: Bitcoin is for Holders!
|
on: November 25, 2021, 02:16:23 PM
|
Bitcoin is for holders but big investors and billioners only can buy and hold Bitcoin because BTC is expensive coin in Crypto Market. Everyone can't afford it.
as long as there is a desire to invest in bitcoin, it doesn't have to be on a large scale. We can invest on a small scale. because holding bitcoin there is no measurement, the important thing is the financial investment cycle can function properly when to sell and when to buy again. |
|
|
|
|
158
|
Bitcoin / Bitcoin Discussion / Re: China Ban and the mining exodus
|
on: October 30, 2021, 01:54:19 PM
|
|
China's ban on the use of cryptocurrencies and the bitcoin mining ban is no longer in effect at this time, other countries have started accepting bitcoins. so from these factors it has only become dust among investors. bitcoin is currently holding between $60k - $62k, so that doesn't mean bitcoin can no longer break through the new ATH, this is just a minor correction to increase the influence on other coins.
|
|
|
|
|
159
|
Economy / Speculation / Re: Some of my insights on the market
|
on: October 23, 2021, 12:39:11 AM
|
|
Many people experience their disappointment and regret when they make the wrong decisions about predictions that will happen in the future. wrong predictions and wrong decisions so that he does not become a lucky person. Anticipating such cases, it is necessary to monitor the market at all times and need to analyze every information from parties involved in cryptocurrencies so as not to get caught in the wrong decisions.
|
|
|
|
|
160
|
Economy / Exchanges / Re: Is it safe to use Binance on VPN
|
on: October 23, 2021, 12:32:43 AM
|
|
Be very careful when using a VPN, especially if you use a financial wallet such as a Binance Wallet or Marketplace and so on. it is better if you are forced to use a vpn then use a secure vpn and use strong security such as passwords that are difficult to detect, the security of the second verification code and so on. after you finish using binance make sure you disable the VPN to keep it safe.
|
|
|
|
|
Show Posts
