Hope I get a warm welcome and I will also try to see it to that many folks that are into Bitcoin come about locating the wonderful forum .
Well I can see some folks here from Bangladesh still doing stuffs with Bitcoin. I believe Bangladesh still bans the usage of Bitcoin, but I am not sure these times. Either way, it doesn't stop people from investing in Bitcoin since there are just plenty of ways to do it. Crypto sites banned? People would just use VPN. Government not allowing the hodling of crypto? People would still be able to personal trades. I've been skeptical in the first day when I cleared my misconception about Bitcoin, but it's all going to be just fine if you start small. Kinda rids of the large risk, ey? Welcome to the forum, OP by the way! |
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Well, for me, if I see people going the wrong way and am sure that the step they are taking might likely leave them with regrets, I usually inform them beforehand. Although it depends on the situation, it's good to tell people the truth, even if they don't believe you at the time. If they finally test the scheme and get a bad result, they will realise that you warned them in the beginning. You are right for not being convinced to join them in investing in those Ponzi schemes, but personally, in my opinion, you did not do the right thing by not telling them what they were venturing into. There have been a lot of failed ponzi schemes in my country, so when any new ones arise, only a few people fall victim. Any platform that promises a huge percentage of return on investment is probably a scam or ponzi scheme because they don't have a proper mechanism that can enable them to maintain the profit they are giving investors for a very long time. That's why they will run with investors funds after they have paid only a few people and might win the trust of many people who will invest last and will have their funds lost.
Just be like the advisor but never force them to put the responsibility into you. People tend to be spoonfed so much that they can't learn or even experience mistakes. Ponzi schemes are quite different though since they would still earn at the end of the day.....just not the ethical way though. It's not just the high APY, but also the shadiness of the structure of the project like no professionalism or even team background. People might start somewhere else to gain fame, but at least give it some effort to show your credibility. |
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Bitcoin is commonly referred to as "pseudonymous" rather than fully anonymous. Although transactions are registered on the public blockchain, the connection between wallet addresses and individuals' identities isn't direct. Nevertheless, transactions are traceable and subject to analysis. Additional information can potentially link specific transactions to certain individuals or groups. It's worth mentioning that privacy-improving methods can heighten anonymity while utilizing Bitcoin, yet absolute anonymity isn't an inherent aspect of the protocol.
I mean it was never meant to be "anonymous" in the first place. People around the internet would still trace the trails of the transactions through address to address. See how many alts in here still gets busted at the end of the day? Yeah it might not be that usual knowing who's behind the address, but that's why it is just how you defined it -- pseudonymous. I don't think there's just such thing as "perfect privacy" or "absolute anonymity" whenever you're in the internet. None of the digital projects provide full anonymity, just take a look at the ads in the apps. All of them are based on the things someone looks for via search engines. Also, mic and camera help ad service. Usage of these tools in ad-creating services implies that it can be used not only for ads, but also for deanonymisation. So the anonymity of BTC accounts is easily surpassed with non-anonymity of Android and Ios systems, which know many things about any person saying or typing the word "bitcoin".
....and all of them are made by someone and that someone has the control inside the code to do whatever s/he wants. Speaking of mic and camera, yeah they're quite concerning knowing that our smartphones are listening to what we say. Last time I say donuts in front of my phone, ads about donuts just popped up in Facebook news feed. |
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In crypto anything can be a scam, because crypto made scamming incredibly easy and safe for scammers. You create a coin, you sell it to people - you legally don't owe them anything, you're not obligated to make it profitable, to make it work. You're just selling a digital asset created out of thin air. Governments can go after ponzi schemes, because they break contracts by not delivering profits, they can't go after crypto because there's no explicit violation of trust. So it doesn't matter if a coin has transparent team, endorsed by experts and so on - they can take your money and legally not owe you anything for it, because you are not investing, you are speculating.
Yeah and it is even happening digital and even though it isn't fully anonymous in here, you're kinda doing some things under the radar and people might not even try to pursue scammers that much and that's why those scambaiters like Kitboga are amazing for doing their stuffs even if it isn't 100% crypto scambaiting. Even if you consulted with the cyber crime police, I don't think that they wouldn't be able to do so much since many stuffs can be faked online easily and there would be almost little to no trace for leads on the identity of whose behind the fraud. Mostly people were scammed because of their own stupidity. People want to rich faster through an easy way but that way leads them to get scammed. If you want to be rich then do hard work and do not use any shortcuts. You have to know what is a scam and what is not if a project pressurizes you in the sense of timeline that it has a limitation or limited slots etc. Then it will be a scam, Avoid the project that gives you a big bag of money in a short time period, And check the details of that project if it does not show any transparency of its team, finance, etc., and get maximum negative online feedback than stay away from it. Human have a greedy nature and that create problems for you so suppress that and also do detailed research while joining any project
"Stupidity" is kinda harsh word. Scammers would improvise in their schemes. Started with just a simple phishing then lots of ways to scam people or deceive people like in ponzi schemes pop up. These scums also play the psychology game, and not just straight up attempt to "give me all your money and I give you something". |
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I think it's all media BS.
Since Elon bought twitter, that app is 100x better.
I remember before, i never saw content i want, never got ads i want, doesn't matter who i follow, i had bunch of garbage and bots on my home feed!
After Elon bought twitter, i really see what i want to see, i get what i want.
I think he set long term goals because in my eyes that app is far better, bots are long gone, politics is not pushed on surface as before and content makers can now earn money from ads revenue. win-win
Well it's kinda meh for me. I kinda agree with your part that it was like a pit for bots and just bunch of garbage posts due to how easily one can write a bot for it and just do mass posting. See those unnecessary follower you get in your news feed? Yeah that was one of the issues, and good thing that it isn't happening as much as it was before. No more of those "fake singles in your area" following your alter account.  I just hated that it became like subscription based now for some badges and ticks. I know it might not cost that much for people in US, but still I am not fan of that feature. |
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Not entirely sure where you reside, OP but I kinda relate to how much rice has been rising like crazy here as well in my country. I don't want to get political, but sometimes you just can't help but blame the one that governs the country due to the action s/he made.
What sucks even more is the jobs these days that don't tend to pay in align or at least higher than the current inflation. Sometimes I do think about working overseas just to make my income 100x higher than how I get paid locally.
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As much I don't really like meme coins like Shiba Inu due to the way it was hyped, it's quite different for me whenever the symbol gets mentioned in me. It's quite heart warming whenever I imagine a dog being symbol of something.
I heard this news recently also in social media, and I didn't expect for it to be somehow mentioned here in crypto due to how people see meme coins as just money printing machine in the short-term.
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Will there ever come a day? Nah, as long as we have governments trying to regulate people's money, there would be always something to regulate and Bitcoin isn't up for regulation unless used through centralized platforms like CEX or any custodial wallets. XRP are partnering with banks since they had someone to contact unlike...... well with Bitcoin. It isn't drawing back Bitcoin though. I am okay with not all establishment would adopt Bitcoin though. |
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I believe it's the younger generation that will really carry crypto adoption to new heights. The younger generation is more tech-savvy. They're more open-minded. They can also easily adopt to the new and disruptive developments brought about by new technologies.
I think the strongest resistance against crypto adoption is coming from the older generation, from the people who have been very comfortable with the traditional ways for the longest time.
To the younger ones, to those who have been living their entire lives in the digital age, in the age of internet, crypto is very easily accepted.
Well not all, some part of me thinks that younger generation might even bring crypto adoption down for some reason. Sure, everything is pretty much technical these days, but how many people from the younger generatiosn were not really afraid to deal with crypto especially Bitcoin. Just because technology is far more common now these days doesn't mean that every single technological product out there are bound to be adopted by many. Credit cards were like old stuffs, but not all people from every generation adopted it including me. |
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I’m a brand new in the forum so please I want the senior member to help me out on how I can operate in forum without offense and some links that I can use to read about bitcoin.
Thanks in advance
Welcome, OP! Pretty much everything has been mentioned here in the thread. Any other links are just up to your own discoveries since there are way too many stuffs to cover around the forum such as what's promoted and frowned upon in here. I hope you have a wonderful time around the forum!  Feel free to ask questions in here, but just make sure you had searched of the answers first before creating a thread.
Best of luck, OP! |
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I can relate to what you mean, but my choice of leaving them to making this mistake is coming after I had politely told them that what they doing and calling it investment is a Ponzi Scheme which can crash in a twinkle of an eye but as one of the comment's made by a user saying that experience is the best teacher , perhaps by way of experience they will have a grounded understanding of my cautioning them . That's my thoughts.
Either way, yes it is. People might hold you accountable in opposite for keeping them away from that particular investment. It won't be your fault anymore regardless so you're good. It's just like doing trading vs virtual trading. You would never feel the losses if it isn't really your money involved. I encountered close-minded people before, but not really in crypto, and it is so painful to work with them. |
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Wait a minute I used to think online is the next generation if your not going online your toast but elon musk just lost funds in Twitter trying to take it fully online. He sacked almost all the employees ,replaced them with bots and now he is trying to sell it . Don't mistake me I'm not trying to criticise the dude but i don't get why this happened for real his plan was nice trying to reduce cost of work . But what went wrong Twitter usage is really going down I think the app is more boring . What do you think we all know elon this might be another business Strategy right  Well I was starting to think that he was not serious in the first place in Twitter anyway, like why would he try to take over it in the first place? Gain fame? Sure it is all about money, but he could possibly had did it to more "serious" platforms. People were saying that he was just trying to destroy Twitter, not really trying to make it better. That's just sayings, but I am not really sure though. |
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In scams like this it’s very difficult to get those that haven’t been scammed to leave it because they think they have proof that the site is legit since someone they know has been cashing out from it, without them realising that the site is only trying to make them believe that it indeed it is legit and as long as they keep paying some sets (most especially those that invested early) they’ll keep getting newbie (like your siblings) to register and when they feel they have accumulated enough money they’ll disappear into thin air.
It’s best you advise them to not refer others to the site ( although that’s the only way to earn significant amount from those sites) because you never can tell when the site will crash and if it happens that those he referred didn’t get to make their money back before it crashed he’ll be the one to pay them back i.e if he knows them.
Kinda reminds me of those people having photoshopped of successful cash out and even those locals in here that seemingly had printed money which should be put in jail due to obvious printing of fake money. It isn't really hard to fake out digital information these days. Even scammers being scambaited by popular Youtubers knew the usual HTML edits in the chrome devtools. I can recall some crypto casinos back then just stopped running their website and abandoned their Discord server. Bruh moment literally. |
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Sometimes those inspiration videos kinda give you away from the reality and that might even hurt you in the long-run. It's like those Dhar Mann videos where some people might think that you just have to do "good" to be successful, but they don't realize that it isn't really everything. I disagree that this forum might help all people though, it could be fun for just reading around but people encounter different problem and with that, different solution also applies. Some people just don't need every single financial advise out there and it could be just simply stepping away from the computer and walking around the city and simply escaping reality temporarily before attempting to face that financial problem once more. |
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So, I am sitting here thinking about how my first Bitcoin experience was, and I can't remember. Suddenly, I am thinking, how was your first Bitcoin experience? If you remember your first Bitcoin experience so please tell me.
Well everyone can almost vaguely remember how they started just like you, OP. I can also vaguely remember how I started but can remember the important parts of adopting Bitcoin in my hobby as well as my usual lifestyle (well not technically like doing it everyday). I can remember buying my first coin through Coins PH which is a localized app here in my country to be able to buy Bitcoin. It still doesn't support other non-Bitcoin coins. That's why I do have to create another instance of a wallet for non-Bitcoin coins specifically MyEtherWallet. I wish I could remember exactly what my first Bitcoin experience was. I was constantly hearing stories about bitcoin. These stories were about losing money. I wanted to do something with Bitcoin. But I remember was scary for because of the fear of losing money. Then a friend of mine told me about the forum. Thanks to the forum, I learned about bitcoin.
Everyone has fear of losing money. It's just part of us being careful in regards of our money. The only thing that reduces it is the research we made. |
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2. Find out what triggers the cost
It's important that we know this if it's stress, boredom, pressure from friends, need to follow the trend and so on. It is important that we have discipline in these things if you want to avoid overspending. For example, if you're bored, you hang out online shopping at Lazada, Amazon, and others, this habit should be replaced with something more productive, such as cleaning the house and others where you can avoid it and do something good.
Adding up to your #3, one of the best advice I got back then was that, if you cannot afford to buy the stuff or luxury twice then you cannot afford that luxury at all. Saves me plenty of money and avoids having a mental breakdown over having little money due to me really wanting to buy that fancy item that would just benefit my satisfaction for couple months if not years. Exactly. Luxury expenses should already be out of the window if you are already aware that your lifestyle isn't fit for that. Sometimes just having the thought of luxury is a bad temptation, because most of the time, thinking about it drives you to actually spend for it. Instead, it is better to focus on investment and savings that will have a higher chance to cause better effects on our financial status and lifestyle.
Yep, true. Although I would argue sometimes that people might need a "little" things to enjoy life. Having to work over and over and not enjoy a little portion of it might hurt some people's mind in the long-term considering that they're just like "live to work" rather than "work to live". As long as you have something to pay your bills in the upcoming months, it wouldn't hurt to somehow "enjoy little things". |
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 I came across this tweet, so the reference is the username. I thought it was a topic worth bringing up for discussion to see the choice that will be made by forum members. This topic is about solving problems as a service you render to make a living. Which of the problems will you prefer to solve as a service you render? the problems of the poor? or the problems of the rich? (support your choice with a reason) I posted this here because it relates to choices we make concerning how we want our finance to be, if this is a wrong place and the topic fits better in "politics and society", I will be happy to move it there. Reality is all of us need to make a living and we can't just keep carrying over in helping poor people just for the sake of solving the world problems. This isn't like you sacrificing your life to be a Saint or even generate popularity. There would always be poor people because there's none, no other people would strive to work for other. Kinda reminds me of my curiosity before on what if everyone was just rich if not middle class in the society. How terrible would that be, I wonder? |
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Exactly, each person has the right to own Bitcoin. But there is a country that forbid/ban crypto and Bitcoin, so people who live on the country can't own Bitcoin. In this matter, the possibility of someone who wants to own Bitcoin, depends on where he/she lives as well. So, it is not only about the money, the legality of the crypto/Bitcoin on a country also has a crucial role. Although you have a lot of money, you can't buy Bitcoin if it is not allowed in your country. You can force buying it on DEX, but the government probably confiscate your Bitcoin if they know it.
I know crypto is a decentralization space. However, it is not something impossible to track someone's assets. The government always improves their capability to track people's activity related to crypto space. It is too risky investing in something which is prohibited by the government.
Sometimes even by legality issues comes by, people would find ways just to get a single handful of Bitcoin. Not sure how strict their ISPs are in their countries, but people would sometimes go far as to get a VPN in order to avoid being tracked and/or being blocked by their ISPs from accessing exchanges. My country doesn't ban Bitcoin or any crypto, but sometimes I am legit curious on what people see when they access crypto sites while their government bans it. Not everything in crypto is decentralized though just to correct ya there. Lots of stablecoins in the market are centralized. |
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I am not much of an investor, so I was never got scammed by investing in a scam project. But in the past, I was scammed numerous times by projects that ran bounties. I would say the majority projects I participated were scam (for me, a project that raised a lot and still failed to achieve milestones is a scam for me). I was scammed for time.
Not sure if you're still talking about crypto, most of them back in the days especially in 2017 when ICOs were kinda hot topic. I can still remember 3 months of wasted time just to end up in a shitcoin that you couldn't even pay your electric bills in the first month with it. They're more like a side gig than a "real job". Even though you didn't pay anything, they still got the benefit of exposure. If you had ever tasted scam before you will know what it means and how to make your crypto assets have a guaranteed security measures, most of the scam related cases are associated to how we also contributed to them happening,
If you had been scam once I think that's not enough case for you to learn many things about what other things need to avoid since you need to experience or learn from other experience so that you can learn more about how to safekeep your money away from scams. Good thing we have great places like this forum where we can learn a lot of things or get new refreshers since it help us get updated on new methods use by scammers. Scammers would still improvise. I can recall scambaiters like Kitboga and Jim Browning commentating that there are just plenty of crypto scams out there other than that usual refund scam. |
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Don't invest early
Do not trade to soon
This is because you are new to the crypto market so you may have an idea of getting rich quick but that is absolutely zero quota.
I would like to encourage people to come here and then research crypto. Then you can get an idea of when and how you should proceed.
....or just don't expect to be rich in crypto because it might not be for ya. Not meant to gatekeep, but there are just those type of people who can't handle volatile markets unlike stock markets. One day it's all fun and games then next week, it would then be the opposite by tomorrow for who knows what the hell is the reason of the dip. Telling newbies not to invest early is not a good advice for newbies, bitcoiners who missed the opportunity of investing early are not really cool with the delay. I should be expecting from you to tell newbies not to rush into investing without knowing what investing in Bitcoin is all about. Some newbies just have in mind to invest to become rich in bitcoin are they rush into it and not having good understanding of how the volatility of the market works, but a newbie that understand bitcoin and the volatility of the market their is not bad if a newbie like this should invest in bitcoin early.
It is an okay advice. There are people not really meant to invest in crypto since they think it's just another stock trading, but it is decentralized ones and that kinda bites in the ass at the end of the day. |
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