When it's about security, Obviously decentralized exchanges are suitable.
You miss something between security and privacy. With decentralized exchanges, you will have better privacy but about security, it's not actually better. Do you know that there are risk of flash loan attack in DeFi? Over time, according to Chainalysis report, more and more DeFi hacks happen and total value hacked per case increases dramatically with time. It might be caused by the growth of DeFi which contributes to increase TVL on a DeFi platform; or worse security of new DeFi projects (which I don't think so); or better skills to run such hacks. Because no one have access of your funds when you use decentralized exchange. But centralized exchanges have many facilities and have higher liquidity for trading.
It's true that you have control of your keys but when you do transaction or you put your coins into liquidity pool in time of a hack, you will lose your crypto to hackers too. |
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1. Wallet- Centralized wallet-Also known as a Custodial wallet
- Decentralized wallet- Also known as a Non-Custodial wallet
I disagree here and I am worrying that you used inaccurate terms. I only know there are Custodial wallets and Non-Custodial wallets. I have never known of Centralized wallets or Decentralized wallets. Did you think of centralized exchange (CEX) and decentralized exchange (DEX) when you were composing this OP? |
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You bring up some very good points. I noticed that the less confident people are about their understanding of finance / economics and technology, the more they trust me and are open to learning, also by researching and reading themselves. On the other hand, people who already dabbled with stocks or who have an education in the field of economics do show these 'hustler-wannabe' traits and clearly find themselves on the spike of the Dunning-Kruger curve. It's much harder getting them to learn, because for that you first have to convince them of the harsh truth that they don't know everything..   Nice graph that reflects the truth that newbies are mostly always positive when they participate in a new area. Unfortunately, in early days, they usually receive good results and temporary profit that mislead their thinking that they are actually genius. Then, they 'bet' (I use the bet term because it exactly reflects what newbies think of themselves and what the truth is) and go all in. Consequently, because of lack of knowledge, experience and peak of mount stupid, they will be punish painfully by the market. From the hell after being killed by the market, they will have to go through a very long period of pain and regret, some of people who can survive through that challenging period will see harvesting time later. Just part of survivors will harvest sweet results later because most of them will repeat their mistakes later. In any market, it's around 20% winners and 80% are losers. Pareto principle |
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In other words, it would be fair to have the VIP price come down and to have some kind of a peg to dollar value rather than staying at 50 BTC which is outrageous at this point to expect any mere mortal to be ready, willing or able to pay that amount for forum VIP status. I'd say VIPs and Donators are just "relics from the past". No sane person will buy it anymore, and the ones who have it will eventually stop posting (within the next 100 years for sure). We never know  If in 2017, the forum received last transaction from Claymore for a donator badge, we might see others in future. As observers, we can think it is insane but in reality, services charge fee on customers by specific input coin. If the input coin is Bitcoin, fee will be in Bitcoin and there is no harm for them to donate in Bitcoin. Like ChipMixer, there is no harm if they donate 10 Bitcoin and have a donator badge. Thanks to Claymore, the first Donator in quite some time.
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Cryptocurrency is not yet legal in many countries of the world but in all those countries Crypto Trading is being bought / sold by Binance, KuCoin Exchange.
Kucoin is a CEX but KYC is not mandatory, at least for now. Even so, storing your fund on CEX is never a good idea. Especially if you do it because a specific is non-KYC. It's just non-KYC temporarily because sooner or later, all CEXes will require KYC. Moreover P2P (Payer To Payer) is running Buy / Sell Bitcoin, ETH, BNB, USDT etc. with the currency of one's own country which is being done by Centralized exchange.
It's inaccurate. P2P means Peer-to-Peer. |
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I would like only Bitcoin and I would like use 2 different address in my Binance account.
< snip >
I would like in 1 Binance account:
1392**************************1JSh for my sponsors.
bc1q**********************************vn5t for my buyers.
Yes you can use, but there are important things you should be aware of - 2 addresses are different address types but they are created by same private key/ mnemonic seeds
- On centralized exchange, Binance in this case, you don't have control of private key / mnemonic seed. That means Binance owns it and you might lose your Bitcoin if your account is suspended, frozen, banned (by whatever reasons)
- If you want to really own your Bitcoin by controlling your key/ seed, let's use non custodial wallet. It is more important if what you are doing is running donation, charity, service, etc.
- Recommended wallets.
- Electrum is a SPV wallet and very light (in storage requirement) to use. If you don't care much about privacy, let's use Electrum. In addition, you can practice to create Electrum wallet in 2 types by same seed, which will help you understand point 1
- [GUIDE] How to Safely Download and Verify Electrum. Make sure you verify wallets (not only with Electrum)
Since Electrum 4.1.0, the step to choose seed type is no longer available, hence if you want to do it, you must to do it with Command line. # Release 4.1.0 - Kangaroo (March 30, 2021)
This version is our second major release with support for the
Lightning Network. While our initial Lightning release was mostly
about implementing the protocol, this release brings features that are
specifically aimed at keeping Electrum lightweight and trustless,
while avoiding single points of failure. Most of the features listed
below are user-visible.
* The wallet creation wizard no longer asks for a seed type, and
creates segwit wallets with bech32 addresses. Older seed types can
still be created with the command line.
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If you could just "know about the charts" and successfully predict the price movements, everyone would be a trader. In reality it's not that easy.
Real investors don't actually need to be proficient in chart reading. There are more important factors that decide their success or failure such as good knowledge (at least on most fundamentals) then strong belief; strong mentality to go through market hype and fear; well discipline in order to don't self-break initial good plan. Trying to find the absolute top or the absolute bottom can go wrong if you wait for to long and miss out on all opportunities.
Nice point! Trying to find an absolute bottom or top is a most common trap for newbies. The best approach is using DCA for both accumulation and profit taking. Then you will not miss the train. Downward trend, let's use DCA for your accumulation, more seriously in bottom range. Upward trend, let's take profit partially at different price range then you will never miss party. |
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OpenWorld was granted $50,000 by Harmony $ONE. If you are curious about it, let's read more there In addition, some plans for the near future. For the next 6 months we can achieve: - Build up the 1st iteration of our digital world so everyone can go there and see how it looks like
- Have basic DeFi features: Single-Asset Staking, LP Staking.
- Have basic Avatar features: Participant can choose avatars (customizable probably after 6 months)
- Have basic structure of in-game circular economy: Set up different professions for Avatars so the P2E part can kick in immediately, gamer can play right after this.
At this point, this is still likely 100% on-chain
After this iteration. The next iteration, within 6 months is: - Move 100% on-chain into on-chain/off-chain structure
- Avatars can interact, chat, form relationships with each other.
- More complete and sophisticated professions form up, building stronger foundation for circular economy.
- Avatar customization.
- Virtual land build up and ready for first offering.
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The problem is that very often after dumping bitcoins of $1000-2000, the price almost immediately returns to its previous value. And if you had a stop loss set, then at such moments a position is very often closed, usually at a loss. We can say that the stop loss was set incorrectly, but the bottom line is that it is for this reason that many ignore the use of stop loss.
The bottom line is to prevent unexpected crash when price hits then crashes under your stop loss price very quickly. If around your stop loss price is actually a bottom, when the market confirms it, you can buy back and enjoy the bounce. By using stop loss order, you intentionally want to avoid crashes. It is super useful especially when you sleep or offline. Stop loss order will save you in such time and such crashes. Nothing works perfect and I believe it is what you actually implied. |
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The forum has its own (un)official rules and the merit system here is different than ones (if available) in other platforms / forums. The initial purposes to create the merit system here is different than why such merit systems created on other platforms.
I mean there are difference and overlaps over other platforms so you can not apply rules of others forum in this forum. The same goes for meritocracy in this forum and in others. Even in this forum, there are agreement or disagreement on how to use merit (from your own earned ones or from merit source allocation)
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You can use Bitcoin non custodial wallet and pick a good time within a week, a day to make your transaction. It will help you to save transaction fee by having a plan for your transactions. Depending on centralized exchanges is bad, no matter you use Bitcoin Native or Segwit addresses or Lightning Network. You don't actually control your coins and transaction fee by setting up fee rate you want. |
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Personally, a more accurate statement should be - Bitcoin is a better payment method than credit cards
- It's too easy to claim that anything you fall in love is better than others and will replace others sooner or later. The fact is, in life we must have as many diversifying options to choose as possible. Bitcoin in this perspective, will never completely replace credit cards or other payment methods. One or some people (minority or majority) will switch from credit cards to Bitcoin but there are always others will keep using credit cards.
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To be a pro on the forum, you must have to be professional in at least two things - Technical knowledge on Bitcoin (most important because it's the Bitcointalk forum), altcoins (top ones, how to detect scam altcoins, rugpulls, etc.), security etc.
- Writing skills: it's important because if you have very bad, broken-English or bad writing skills, you will write too long posts or non-sense, hardly understandable ones. It causes failure to convey your idea to others
A pro newbie is possible technically with in-dept knowledge on Bitcoin and others but if you see a newbie who have too deep knowledge on the forum, it's not a newbie in my opinion. |
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Bitcoin is often accused to be completely useless but of course we know it is not true. Because Bitcoin is useful in various ways already and it will continue to be useful for many more cases when Bitcoin gets more established.
Bitcoin is not useless. If it is useless, it would be a dead coin after 13 years (since 2009). In fact, total transactions and total transaction value per second on Bitcoin network have increased significantly over time. In addition, the growth of Lightning Network in past 2 years are amazing. A very famous usecase for Bitcoin are already donations and Bitcoin as a medium for donations is gaining more support currently.
Donation or any other activities for good or bad intention, are just part of Bitcoin use-cases. |
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It's better if you can add hyperlinks to movies, books, podcasts here because people might find a wrong one with search engine. Moreover, there are some topics about it which can be helpful for you. You can add those topics there as references |
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Bitcoin mining started with PCs, solo mining, then mining pools, GPUs, then ASICs. Power used for mining is switched from mostly fossil fuels to more environmental friendly resources: water, wind, solar, etc.
Recently, we see Tesla joined the party and I imagined about it about 2 years ago. I thought Tesla will provide environmental friendly power solutions for Bitcoin mining industry and they might produce ASICs for this industry as well.
More centralized? I don't think so because Bitcoin by its design is for a peer to peer transactions with a decentralized network. The more adoption for Bitcoin, the more decentralized its network will be. In the past, dominant hashrate is from China mainland, months ago it has gradually spread towards other nations. The trend will continue when Bitcoin becomes legal tender in more nations.
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Yes but the problem with these threads is they are piled under dust if not bumped or some members replied to them.Most of the new registered account does not care to go through them and we can't blame them.
There are reasons like - They don't know about available topics, guidelines or don't know how to search effectively
- They know what and how to do but don't mind to do the right things.
- There are other reasons why such topics repeatedly created. I don't want to make topic authors feel bad about it
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But online wallets save the seed phrase on wallet and can be seen through malware, some people can be careless, install malware in a way the malware can steal the seed phrase on their web, mobile or desktop wallet. If 2FA is used like on electrum, the seed phrase can not be found which is still another protection.
Your explanation is inaccurate. 2FA provides protection through co-signing outgoing transactions. It protects your Bitcoin in case your compute is compromised but hackers have yet gotten full access to your seed because with seed, they will be able to import it and change from 2FA wallet to normal (non-2FA) wallet and will able to sign outgoing transaction without co-sign from remote server by Trusted Coin. |
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