I am not a technologist, let alone a programmer, just an investor and trader.
What do I need to know about Ethereum's high gas fees? I'm hearing some say that this could sink Ethereum. How exagerrated is that?
Even I cannot say clearly if the problem is going to be solved in the near future or become even more appalling. What I can suggest you is that move to other coins and tokens as per the market need. I remember a time when BTC confirms were very slow and I am talking about years ago, that time I switched to dogecoins because not this many tokens existed back then, now we have a majority of coins to chose from. The basic reason behind the high transaction fees on the ETH blockchain, I think, is actually because of the massive number of DeFi projects being made and all the tokens that are generated have their own transactions which has choked the blockchain and its taking longer than usual to confirm transactions. I don't see it improving anytime soon either. |
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We should not be surprised to see the increase in BNB which is so fast and become the third largest coin, because Changpeng Zhao was able to make Binance exchange the best. Surely he can do it at BNB too, but to be able to overtake with Ethereum is still possible, even though it takes a long time. Meanwhile, to overtake with Bitcoin, I'm sure there will be no coins that can overtake with it. It is very fortunate for BNB holders today to enjoy large profits.
Also all the BNB earned through fees on the Binance platform, as far as I am aware, are burned and hence the supply is shrinking and the demand is either remaining the same or just increasing every day which ultimate leads to pumping of BNB token. I do not see how being number 3 on the list guarantees BNB will continue to be there forever. The spot changes like water tide. Most of those coins that made top list n 2017 or before that are not on that same spot now. At a time, Dogecoin was a top coin too but where is it today? Where is Bytebal? Where is Bitconnectoin? BNB may also lose that spot tomorrow.
Right but all the names you taken never had a product to support the hype and hence they failed to dominate the market in the extended run. Dogecoin was just a meme which I personally used to save transaction fees. BNB is supported and based on the whole Binance exchange, their latest services like I read somewhere about Binance bridge and on top of all, being the biggest exchange there are lots of BNB being burnt daily which like I mentioned above, leads to the growth of BNB as supply shrinks. |
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Here's how the market would react.
1. If the price of a coin is lower on other exchanges, traders will buy from them and sell on this, right? That will cause the price on those exchanges to rise.
2. If the price is higher on other exchanges, traders will buy from this exchange to sell on those, right? That will cause the price on those exchanges to fall.
This means the market will keep correcting itself until all prices are closely pegged to the prices on this exchange.
This is called arbitrage trading where you buy a coin which is low in any exchange and sell it on the other exchange where it is high. Normally this opportunity does not happen often as price remains similar among all exchanges but if this happens, you can take advantage of it. This happens a lot more in the local market like I was recently reading somewhere that in Nigeria the price of BTC is being traded at a high premium and up-to 20-30% above the market price which allows this kind of arbitrage opportunity if one can arrange BTC at normal price and just sell it to the ones buying at premium. I have seen sometimes when a bull run is going on, prices on localbitcoins have a huge difference between selling and buying which indicates that more people want to buy right now and similarly when a drop happens there are more sellers and less buyers. A trader smart enough to use these opportunities can arbitrage. |
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PayPal has adopted cryptocurrencies, there has been widespread opposition to these services. But of fiat currency it is used everywhere its charges are much less and the transaction is favorable but it is under the control of the government bitcoin won't die as long as crypto lasts bitcoin will never stop using many of the best currencies it is being used more than fiat currency. Other services are launching their company by accepting bitcoin as a good currency the use of crypto will continue to increase as time goes on.
Bitpay is one such service which allows people to accept payment in Bitcoins and I believe Bitpay pays them fiat currencies in return. People need to understand that service providers like paypal are charging fees which are going to themselves but the fees taken in bitcoin ecosystem is paid to the miners which ultimately helps get more bitcoins to the market as mining is the only supply source available for bitcoins. Also fees control is in our hands, if you are not in a hurry you can make the payment and wait for 24 hrs and most transactions do get confirmed within that time frame, unless you have sent the transaction with 0 fees. I often send transactions with lower than recommended fees and then use some free services to accelerate my transaction. One such accelerator I can recommend (I use the free one only): https://www.viabtc.com/tools/txaccelerator?lang=en_USIf it says submissions are beyond limit, just wait for the hour to reset and submit immediately as we enter in the new hour. |
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The history of the Mt. Gox hack and many crypto institutions falling prey to phishing attacks could leave insurance agencies hesitant to offer coverage. There may not be as much of an industry standard of security measures implemented in crypto finance as there is with banks. There may also have been a few cases where sole holders of crypto private keys to millions in assets were accused of faking their own deaths. Which can only add to the controversy and risk factor of insuring crypto assets.
Account insurance like FDIC for banks is one tangible advantage traditional banks have over cryptocurrencies. One advantage they may be hesitant to lose. There could be political and regulatory pressure imposed against crypto assets being insured for these reasons.
Crypto exchanges, ETFs and brokers not having to pay monthly premiums to insurance companies could also be an advantage in terms of it reducing their overhead. Perhaps this is a gamble some would prefer to take.
I don't remember exchanges like Mt Gox being sued for lack of security measures. Lack of lawsuits and accountability could reduce the pressure on exchanges and holders of crypto assets to provide some form of insurance.
First of all there is definitely a chance to make money by insurance companies for that EXACT reason, why? Because if crypto is such a risky thing to insure, then you could charge premium amount for it, and those people or companies that get insurance would have to pay a lot of money to be insured and if nothing happens the insurance company would be in a huge huge profit. I would do it just for the reason that I would probably make it back way before anything back happens, but also I believe places like Binance or Coinbase would rather continue operating instead of just "exist scam" with insurance money. Secondly just because mt.gox wasn't sued for lack of security doesn't mean that they weren't used, and it also means that if they did had proper security and insurance they could have paid people back right away, or at least eventually when insurance company agrees, which means any other place that has it will not face jail time like Karpeles faced. |
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BNB already replaced by ADA and ADA hardfork has been making this coin grows a lot today. it seems like the current MCAP of ADA will be quite difficult to be surpassed by binance again soon.
I do believe if we will see a very strict competition between ADA and BNB to get the 3rd place on CMC.
It's too far to predict if BNB will be surpassing ethereum. It must get the third position.
Yeah, I can't believe that BNB increases this fast, it is really incredible that people are moving to BSC and other famous ones, I feel lucky that I got in a bit before any of this started, and a bit unlucky because I used some percentage of BNB to invest into BSC stuff instead. I had the right idea but used it wrong, I assumed that since ETH was so expensive and it was closing to near impossible levels to trade there, people would move to BSC and trade there, so I moved all my money into BSC instead of keeping it at ETH, that was the good move. But, I assumed the places I invest into would make me a lot more money and invested that BNB into defi projects, which did made some profits but not a whole lot, and now that BNB price is so much more, I could have made 5x more money if I stayed in BNB. In any case, I am quite happy that BNB is getting the attention it deserves, people spend 1 dollar for things ETH charges 100 bucks for. |
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well, so far, I see the development of polka-dots really amazing. Even now it is still in the 4th position of CMC, so I think it is a coin worth taking into account when it comes to investing. however, the price is still quite cheap, I think that the price will increase in the future along with the development of cryptocurrency. but I'm not sure that polkadot can outperform ethereum or BNB.
Look the price of DOT might never cross or reach as much as ETH because of the simple reason that the total supply of ETH is 114,786,596 while the total supply of DOT is 1,047,480,258 which indicates that the price of DOT should realistically be lower than ETH because the total supply of DOT is like 9-10 times of Ethereum. Seeing the polkadot ecosystem and the improvements that the team has been putting into work, I see that polkadot got a bright future.
No doubt about that and with the current clogged Ethereum network which has caused fees out of control, its almost a guarantee that Polkadot will do good in coming time. I have some DOT with me which I am positive about but I will never consider the value of DOT reaching anything close to Ethereum unless something crazy happens or DOT becomes just too useful. |
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This is a good idea since crypto users constantly increasing time on time. And you can help them actually to find new way to make a profits through safe gambling sites. But i suggest check very carefully when it comes providing a gambling site on this thread, cause you know not all on this industry are legitimate.. So you must visit the Scam accusation thread on this forum so that you have an information what are the good and bad sites when it comes to gamble.. This forum can tell you the truth men, so you must explore more..
There is a thread about the scam sites here, he keeps adding new sites so worth a visit before playing on a new casino:https://bitcointalk.org/index.php?topic=5283832.0 There are so many websites which look great but they end up scamming, the most recent such site I can recall is goosebet which as I visit last was allowing users to withdraw funds at least by the looks of it but they stopped gambling operations for some reason. The demand for crypto gambling will continue to grow but it does not apply to fiat's currency is confined to one place and it is very difficult to make a profit here crypto gambling is a kind of addiction and many people play it through entertainment. Crypto gambling sites are improving a lot through blockchain every gambler has a great way of betting crypto gambling protects every gaming site, and its slots no one knows the details of crypto gambling and everyone makes the game great.
What makes crypto-gambling even better is the nature of the games they are offering. Till now the games made were controlled and the results were not verifiable which means we had to trust the casino or the game provider. Now with crypto-gambling games like dice, keno, bustabit and others we get the chance to actually verify our rolls. |
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I understand USDT is good for now, it works well, good volumes, more trading pairs.
However...
I'm looking for a stable coin that is decentralized, trusted and wont crash to 0 when the fed regulators find out scandals with it.
I'm not saying that I know all USDT tokens are not backed by paper dollars as that be a unproven allegation now, but I'm saying I don't want to take a risk if the regulators do find out that all USDT tokens are not backed.
That is DAI I think, or DAO, not really sure about which one is what to be quite honest, some of them are BNB and some of them are ETH so basically it is a decentralized currency. It takes money from people to back it up, and when there is a crash or anything it uses it automatically to keep it at 1 dollar, I can't really give you the full details because I do not use it honestly so all I know about it is vague terms but I can tell you that some of the smartest people I know have said that it is much better than USDT and have used that instead. Not because it is perfect, maybe there could be some problems in that one as well, I am sure if I look closely I can find problems with every single coin, even bitcoin is not perfect, but at the same time the only thing we need right now is something better than USDT and that is enough for us and those projects are decentralized and better. |
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Too much of anything is bad whether its sweet or sour, applying the same logic we can say having too much patience and being a saint while your portfolio is suffering is not wise. Similarly, just losing $1 value on Bitcoin should not make you sweat your pants and sell your bitcoins developing fear of the market collapsing.
I don't know why the same guys who were so positive about bitcoins and the future are suddenly so worried that they are asking others if they should hold their coins. A few weeks back guys were suggesting others to buy bitcoins and those same guys are now asking in telegram groups, I follow a few, about whether they should sell their coins as the market is collapsing.
Just cool down and don't follow the price too many times a day because checking it again and again is only going to break your confidence and ultimate you will end up dumping your coins, once again for a cheaper value.
I guess people who like to overreact to going up will of course overreact to bitcoin going down, we all knew that bitcoin would eventually go up so we weren't surprised when it went up, and we know that corrections happen as well so we weren't surprised about this neither. I remember clearly just a few months ago price moved from 24k to 18k and everyone was scared, what happened? We reached to 40k price after that, I also remember price was 41k dropped to 29k and everyone was scared, what happened? We reached nearly 60k levels, and now we moved from 60k to 45k, and people got scared again, I am not, Because I believe there is a chance we can reach 80-90k in the next 1 month, and that is not even unlikely, that is probably the most possible result. So do not care about those people who overreact, just look at what it does and you will see the situation easily. |
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Blockchain technology provides data protection against hacking attacks and other fraudulent activities. However, the security often depends on the version and format of the cryptocurrency wallet you choose the safest way to store bitcoins is to find yourself a hardware wallet this type of wallet is always offline which means it is never disclosed thus, there is no risk of hacking or stealing private keys online wallets are the most secure storage strategy since private keys are in the hands of third parties. You have to trust to keep your coins safe and there is no need to kyc nothing here will remain anonymous.
Actually the questions asked was how can one convert their BTC in case imagine the price is dropping and one wants to secure the amount he has in US dollars but does not want to pass KYC and wants to remain anonymous. Most common way of doing it would be by converting into stable coins but as fellow members said that trusting USDT or other centralized coins is like buying paypal and saving them because they are controlled by the providers like Tether Limited controls USDT. Wow thats a ton of btc you have. But are you planning to cash out to your bank?
If you had a read of what he asked, you would have known it better. I think this is a common problem and usually the way most of us conquer this problem is by converting to stable coins and buy back when the bear run has stopped. |
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I think every good deed has a bad deed in the same way if you are trained and if you are a good trader you can have a good income but of course in trading you can have some mistakes every trader Making small mistakes, of course, I think trading can be a block for you, but you should not pay too much attention to it. Think about how you can make a profit in the future
The truth is that even the experienced traders fail to make money consistently, not all but some. Being a passionate trader, I have always been in touch with a lot of traders on telegram and joined many groups, half of which were scam but one thing I learned from all my experience is that even the best traders suffocate when the market is down and when the market is bullish then even the worst ones make easy money. It more depends on what time you are trading then how experienced you are with trading. Of course having experience helps because it makes you stand strong in times when others would panic but having experience doesn't really guarantee you success at all. Holding for too long a coin that's useless might look foolish but ask doge coin holders, they kept the faith and Musk paid off. |
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no wonder BNB can reach that position today. I've even looked at BNB since the price was still under $ 100. however, I think that BNB's development is much faster than other coins. I even thought about holding back some, but it seems like I am also waiting for the price to drop.
I wouldn't really wait for it to go down too much, it is reaching to levels that is unheard of and the volume is getting to a point where you wouldn't be able to really say if it is going to 2x or 5x because there is so many people using BSC these days. I personally feel like we are going great, it is not the ideal situation of course and we are going to end up buying at higher levels than we wanted to, but as long as we buy something for still high price and then it goes super high, that is still profit. However if you wait for it to go down, and it doesn't go down but just goes up, you are going to miss out on a chance to make more money. I would say buy some now, and buy some at 300 so that you will be all in, if it drops you could buy some under 200 as well so that you could be in at cheaper if it goes down. That way whatever direction it goes, you could be in it anyway. |
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New tokens with high gains only last few days or even few hours, it's not very recommended for doing this in my opinion. If I have another 1000$ dollars I would invest them in top coins like ethereum, bnb, polkadot and others which have more utilities.
I believe those type of things are not as dangerous as you think they are, I believe they are still fine. You can't put money into anything you find, if that was the case I would have thrown 100 bucks into 10 things everyday and I would be broke in a week, that is not the case of course, however just because something is new doesn't mean it is bad neither, all the coins you see today were new one day, and they all became big and known eventually, obviously they are all one in a thousand chance deals, for every top 10 coin, there is a not even top 2000+ coin so there are much more failed coins then successful ones but I still think we should be patient and research the good ones and eventually we are going to end up with a good one, all we have to do is make sure we invest into a new one that is good and loved and has a potential instead of a shady looking one. |
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I knew that the greater part of the organization is putting resources into bitcoins. However, I didn't know they're contributing that much.
Allow more organizations to put resources into bitcoin, so it assists with fluctuating the bitcoin's worth.
I imagine that is the primary motivation behind why bitcoin is currently higher than $20,000 and is giving a positive indication. However, I am apprehensive about what will occur if all the organizations sell their coins all at once? Isn't it impact the bitcoin's worth, and it goes down?.
Although I think there are lots of companies like the ones mentioned in OP hold Bitcoins and some hidden ones must also be holding a good amount of bitcoins but I also think that a lot of companies must have sold a big part of their bitcoins so the mentioned companies might actually not hold as much as mentioned. Bitcoin price is so high because adoption has increased because when these big companies buy bitcoins, they also attract some small investors. When Tesla said they are accepting Bitcoins, I am sure a lot of people would have bought bitcoins for the first time, not to buy the car but because everyone gets interested what asset is it that the biggest car company Tesla is accepting now. |
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well , i guess today will be more worst than yesterday , posibly altcoins drop up to 40% , and ETH maybe going to $1400 and bounce fast like yesterday , and how about BTC ?, seems btc have more resistance than other coins, posibly FOMO on bitcoin make it strong,This can be seen from the number of parties who withdraw bitcoin from the exchange, i guess 45k is a worst price for bitcoin if this still continue.
This is what I hate about altcoins, when Bitcoin was rising most of the altcoins didn't raise as much as they should have. But now once the bitcoin market is going down all these markets race against bitcoins in going down. I am not sure if altcoins drop creates a domino effect or the vice versa but each and every coin should have a reason when they fall, not just because bitcoin is falling all of them drop like a deck of cards. That is basically the main difference between altcoins and bitcoin, altcoins are the ones that are going because of FOMO and hype, bitcoin in fact is being backed by very powerful individuals and those are the ones we know, it is entirely possible there are more billionaires out there with decent stashes of bitcoin but that have not revealed they are holding it yet.
It also makes me wonder if all the altcoin coming up and existing ones have any of their own identity in the market or they are just standing on the base that bitcoin created years ago. If the Bitcoin market is going down because it saw a bull run it should never mean that all the assets fall down suddenly. For example if a stock is suffering in the stock market, is usually does not affect other stocks and their prices at all. |
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I can't tell you how much I relate myself with this statement. You are really touching me with that because in 2017, I was one of the guys who would buy coins and sell to make profit but as time passed I just became arrogant and started thinking I am the smartest trader which then lead me to some serious losses and although thankfully I recovered, I can never forget that time when the market was so good that almost even shit coins used to gain enough interest from market to sell them at a better price than what we bought them.
Now is the similar kind of situation where almost every coin is going up but at least the scam ICOs have slowed down which is a good sign and some coins are being obviously pumped like doge coins and I am staying away from both - pumped up coins and ICOs.
Do not be worried that you were like that because many of us were like that, and even though we are smarter on this bull run, there are still a lot of us who believe that bitcoin will be doing awesome and even invest into silly shit coins to make a huge amount of profit where in fact reality is we are going to end up losing money on most of them but we can't stop ourselves on this run as well. However the thing we are smarter about is getting out instead of staying in with these, we did make some profits and with those profits we are more ready to get out quicker this time around so that we do not stay and hold too many bags during this period. We are going to lose some money, it is not like we are going to be 100% fine but at least we are more ready this time. So, do not feel bad that you were like that but feel like you are more ready this time around. |
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Sometimes our greediness makes us down if we're not contented with having profited from trading but I will call you the dumbest person I've known if you will sell your Bitcoin under the price you'd purchased.
Trading is all about selling and buying at the right time and people call it a mistake to sell cheap and buy costly coins but this is just unfortunate and not a mistake because none of us knew which direction the market will swing in coming time and we still don't know. There is a difference between panicking and being over confident with your coins. Like with bitcoins as the price drops, I do not worry too much. But when the same happens with a another insignificant coin of lower volume and market cap, I am much more aware and active because the coin might be dead while I am sleeping and its better to sell and avoid losing everything than to sleep on the coins and lose everything next day. We must never be in any hurry but also like you said, make sure you are not to greedy. Crypto is all about balancing between greed and panic and being sharp with decisions, if even they are wrong sometimes. |
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Hmmm I am seriously not liking all these dramas that the cryptocurrency market has been turning into, and by that I mean the Dogecoin market, like seriously how can just one guy be telling everyone what to do and they are sheepishly doing as he says. So, that means this guy has some really good chance to cash out big.
He can just say one thing and cause the Dogecoin market to go down and then he will invest billions of dollars and then tell people to start buying and they will stupidly make him even more rich. This is really dumb asf, I have not even invested in the Dogecoin before and I don’t think with all these things that I am going to do that, their community is now Elon’s puppets.
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Only LINK which I think prefers for 2021 based on the article. I don't understand how to do a good altcoin determination this year. in fact many are disappointed with the opinion of many people. BNB should be included in the list if you look at the current price which has experienced a fantastic increase. There are a lot of people who are pretty sure about this altcoin
Honestly BNB is a marvelous one that increased so much because of how great it is. All other ones are great too, it is a weird year where I think everything is great, there is nothing wrong with any coin right now and I feel like it is actually going awesome for almost all coins maybe except just a few one. Obviously speaking I am not saying pick any coin you want and buy it and eventually it will go up, all I am saying is that market is doing great as of right now. Today has been a horrible bloodbath but otherwise we are doing fine with all of them for the past 300 days or so. What I would really want however would be to see BNB and Link and Dot type of a bit more higher tech coins to increase, there are too many coins that I feel too "copy and paste" of each other that are in the top 30 right now, they do not really bring anything new, the ones that are new and bring something different should be higher than the rest. |
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