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2061  Bitcoin / Bitcoin Discussion / Re: Is it advisable to memorize seed phrase? on: January 06, 2023, 07:18:24 AM
I have memorized and seen people memorize much more difficult things by turning them into music. Music can stay longer in memory than something you just read because of the melody and rhythm attached to it. So, if you can make music out from your seed phrase or even a poem, you will be able to remember it for a longer time.

I know singers and it is easy that when they sing a song they change some words. Or theater actors who memorize a script, usually change something unconsciously when they perform. Relying on your memory could work out well in the short term, if it is to go to another country for example, but there is a high probability that it will go wrong. It is better to rely on something external. I remind you that Einsteir said: "A short pencil is better than a long memory."
2062  Economy / Economics / Re: If your passive income beats inflation rate, deposit might be a better choice. on: January 05, 2023, 09:24:02 AM
You sound like someone who makes a lot of guesses about a hypothetical situation in which he is not. A passive income of the amount that speaks, what people usually do is spend it instead of depositing it in the bank. There are two exceptions to this:

1) People so rich that passive income far exceeds their level of consumption, so they reinvest it, but never in a shitty bank deposit, unless for a short period of time (to buy when they see an opportunity in RE or shares of a company).
2) People still in the accumulation phase, who in this case reinvest the liability but in the same way as 1). It doesn't make sense to put it in a deposit unless it's short term.
2063  Other / Beginners & Help / Re: Why Bitcointalk is the best forum on: January 05, 2023, 06:07:16 AM
Yeah, well, this forum is the best forum because you can create a thread praising Bitcointalk, its members and/or the merit system and you will hopefully get some merits. Especially if you hint that you are not here just for the money.

It will usually work especially on the B&H section, so it's one of the best sections of the forum if not the best.
2064  Bitcoin / Bitcoin Discussion / Re: Bitcoin birthday reminder: You could have been a millionaire using this tool on: January 05, 2023, 04:03:09 AM
It's good to remember stories like this in these times of the market when people's spirits are low because of the price.

In the future people can get rich by simply buying and holding at these prices and waiting, although it is logical that future returns will not be like those of the first cycles, and that seems to be confirmed in this one.

Besides, we should not only look at the "being a millionaire" of the title. The fact that with Bitcoin you can transfer wealth without depending on the approval of a centralized intermediary, or that you can move from one country to another and take a large amount with you without any problems, is something we should value.

2065  Bitcoin / Bitcoin Discussion / Re: The mistake I made some years ago on: January 05, 2023, 03:51:40 AM
There are a lot of stories like that. Bitcoin started trading at $0.008. By the time it reached $1 there was virtually no people left of those that still holded, who bought at $0.008. From $1 to $100 the same thing. The one who makes a 20x or 30x often sells because he doesn't know what the future is going to look like and prefers to have the money in hand now.

There are worse stories. Like those who bought at the top of the cycle only to panic sell shortly after because prices fell, only to see in the next cycle that the price went much higher.
2066  Other / Meta / Re: This forum will need explicit rules on the use of AI. on: January 05, 2023, 03:43:24 AM
That won't work.

Have you even read what I wrote? It seems you have been busy again.

All those accounts will get the same fingerprint which will make it easy for anti-multiaccounters to catch and report them.

To report them for what? Having multiple accounts is not forbidden.

AI is not known to write uniquely (I mean, you can get it to write in some weird tone but at that point, everyone will know it's a bot).

I suggest a form of text CAPTCHA where a certain type of question is asked that only humans know the answer to. For example: "why did dasher lose his funds?"

Read again, and please next time you quote me try to (agree or) refute what I say. Not to apparently refute what I haven't said.
2067  Economy / Gambling discussion / Re: Factors that contribute to form addictive gambling. on: January 04, 2023, 07:47:21 AM
Free alcoholic drinks, ease of withdrawal machines and ease of which to fund betting/gambling site wallets are serious contributory factors to addictive gambling.

I don't quite agree with this, these things can encourage longer sessions than planned, but addictive gambling, which is a long-term concept, cannot be explained by this alone. The cash machines thing is bullshit and I don't see a problem with it, the drinks thing is more dangerous and in some places there are explicit regulations prohibiting it.

What other factors do you know contribute to form addictive gambling?

What I believe it contributes is external to gambling. For me, addiction to gambling, like addiction to sex or certain drugs, is a symptom of previous problems in your life. If you have a shitty life it's easy to end up looking for a way out by trying to get rich from gambling or getting the pleasures you don't have in your daily life through sex or drugs.
2068  Economy / Lending / Re: Loan for 10days At 1% daily interest amount : 30usd on: January 04, 2023, 07:25:39 AM
I will post here what I said in the other one and report the other one for duplicated. This (supposed) girl is off to a good start, not only asking for loans without collateral, but also creating duplicate threads for the same thing.

What do you need a loan of $30 for a month? I imagine that with 30 dollars you do more things in your country than in mine, but not many more.

Then think about something else: if you're so strapped for cash that you need to borrow $30, having to pay back $33 will make you even worse off.

2069  Bitcoin / Bitcoin Discussion / Re: Why Microstrategy owner (michael saylor) holds huge amount in bitcoin on: January 04, 2023, 06:12:42 AM
I would recommend not to be influenced too much by Saylor, it seems that the OP has discovered him now but if he had discovered him last year at the peak of the bull market he could have gotten carried away, and could have gone all in debt to buy Bitcoin, and although Saylor's message is to do it in a rational way, much of the leverage we have seen cascading liquidation in the downturns we owe to him.

He's a very smart, well-spoken guy, but those types of people get it wrong too. Better to study what Bitcoin is and based on that decide whether to invest, as pooya87 says.
2070  Other / Meta / Re: This forum will need explicit rules on the use of AI. on: January 03, 2023, 03:42:41 PM
I also think that forums will be affected by growing popularity of AI and chatgpt. Especially a forum like bitcointalk where users are rewarded for posts if they are in signature campaign. Some people will try to game the system. There can be arrangements made to combat this but it will be huge load on forum staff and resources.

Can't wait when purely AI account reach high Position (rank) and would be accepted into a signature campaign. It would be one small step for an account, one giant leap for AI.

And seriously, we should start thinking about it as about realistic scenario - 10 years ago the discussion we have now have been seen as an abstract academic dispute without any relation to real life.

I agree with this, and expressed it in another thread, but with a nuance. It is not simply an "AI account", it would be an account created by a Bitcointalk member who uses the AI but tweaks the texts that the AI writes, adapting them accordingly. In other words, it would be using the AI's leverage. It would be a symbiosis between the Bitcointalk member and the IA, so that a new account can be created that writes faster and at least in some cases better.

If it is seen to work, this could result in being able to manage maybe 4 accounts instead of 2 as many have and get paid for them. Obviously, without being a moron by exchanging merits between the accounts or joining the same campaign, etc.

This is all hypothesis and I am not sure if this could be really the case. I would like to try it but I do too many things already.

I would bet that there is currently someone in the top 50 of merit earned who is testing this.
2071  Other / Off-topic / Re: Does money bring you security ? on: January 03, 2023, 03:34:44 PM

Well, it is a fact that money buys a lot of things that we both need and want. Nobody can deny material possessions give us comfort and joy in most times. However, it is really a question whether money brings you a feeling of security. In my experience, a lot of rich people are living in anxiety and fear. Before they got rich, all efforts and endeavours were taken most of their life and time but after they reached where they are now, insecurity and anxiety take control of their life. Have you ever thought about this ? Please share your thoughts.

In my particular case, more than security, it gives me peace of mind. The case of the rich is curious, there was a study whose conclusion was that for salaries of $75-$100k per year was considered the salary of happiness, but that increasing the salary did not increase happiness. Many rich people take the money they have for granted and do not appreciate it as someone who goes from poor to rich would.

I think money is more appreciated if you come from a working class background and have managed to get rich without reaching exorbitant amounts.
2072  Bitcoin / Bitcoin Discussion / Re: THE RIGHT TIME TO MOVE IN on: January 03, 2023, 03:27:37 PM
Another Bitcoin halving is expected to come in 2024. As it has been in the last two Bitcoin halving, the bull run follows. As we anticipate another Bitcoin halving, when is the right to buy in and stock up Bitcoin in order not to be left behind in the next bull market?

The exact best time if you mean the bottom of this cycle is very difficult to guess, but we do know that if we are not at the bottom we are very close and that these prices will seem very cheap the next cycle, and a bargain the cycle after that. So now is a very good time to invest. If you are not comfortable investing a lump sum, you can split it and do DCA.
2073  Other / Beginners & Help / Re: Expectation for 2023 on: January 03, 2023, 06:53:42 AM
So I think everyone would expect that bitcoin would rally again this year, and believe me I'm also rooting for it, but I realize that we should not expect too much, why? because too much expectation will only disappoint us when we don't reach our goal or target
I didn't expect this, why?
I've been here in the crypto space for many years and I witnessed so many times how bullrun and when it commonly happened.
It's expected that there will be a bull market when after a halving, most commonly after a year.

I think so too. Normally the Bull Market is after the next halving, unless we call going from $16k to $30k a Bull Market.

Another thing is that there are certain influencers who are predicting very high prices, even beating ATH this year but I think that, although this cycle does not have to repeat the previous ones, and so it is being seen, that we will beat ATH in 2023 is extremely unlikely.

  • Stick to your goals/plans...
This is what I am going to do. Keep accumulating, no matter what. The best thing a long-term investor can do is forget about the noise.
2074  Economy / Trading Discussion / Re: What are your thoughts on revenge trading? on: January 02, 2023, 06:15:03 AM
~ what is your take on revenge trading?

I think the concept is bullshit.

~ Do you think people intentionally go into revenge trading or is is just emotional?

It is an emotional state that people get into when they lose and are also stressed or tired, either as a result of losses or for other reasons, and this causes them to despair and chase their losses, which can happen in both trading and gambling.

~ what will you advise someone making series of losses ?

Let him go home, rest, and come back another time when he is fresh. If the losses are repeated several times and significantly hurt the finances, let him quit.
2075  Economy / Gambling discussion / Re: Is playing national lottery smart or waste of time? on: January 02, 2023, 06:00:03 AM
Do you play national lottery games (Powerball, EuroMillions, Lotto etc)?

Yes but very rarely, and I am not pinning my hopes for an improvement in my financial situation on them. I improve economically in a slow and boring way.

But the reality is, such lotteries usually have way worse odds than any casinos or gambling sites. So, mathematically speaking, you're better off gambling your money there.

Mathematically speaking, you are better off not playing anything in the casino and investing that money instead. Unless you are talking specifically about poker and sports betting where with patience, effort and good bankroll management you can have long term profits.
2076  Economy / Speculation / Re: Is this the perfect indicator for long term investors on: January 02, 2023, 05:50:29 AM
Indicators aside, my gut instinct based on my investing experience also tells me that we have either hit bottom or are very close. My instinct may fail just as the indicators fail, but at the end of the day I think there is a consensus that we can't fall much further now, coupled with the fact that this year should have positive returns, if we look at what happened in 2019, 2015 and 2011.
2077  Economy / Economics / Re: The Taste of an Economic Downturn on: January 02, 2023, 05:40:25 AM
Where do you live and what kind of giant secret recipe golden plated onions are those?

I believe he lives in the Philippines. Perhaps for some reason onions are not produced much there and that is why they are more expensive.

I wonder how ordinary people around the world felt the worsening economic situation in their respective countries.

In general, with inflation in many parts of the world, prices have gone up, and if salaries have gone up, in most cases they have not gone up as much as inflation, so people have less purchasing power, and what they do is reduce expenses. Another thing that has happened is that the main payment that families have, which is usually housing, has also risen due to the increase in interest rates. Those who had a variable rate mortgage have their payment increased with the revisions, those who take out a mortgage now also pay more for it than a few months ago, and to a certain extent this is also transferred to the rental market.

In the end, people have to do the same or more with less, and that is what central banks are looking for, lowering demand to lower inflation, which is done at the cost of the suffering of families.

That is why it is good to keep Bitcoin, although now it has fallen, in the medium and long term it maintains and even increases the purchasing power quite a lot.
2078  Economy / Reputation / Re: [2023/01/01] Happy New year Bitcointalk on: January 01, 2023, 07:19:06 AM
Happy New Year. Still a few hours away for me but a decent portion of the world has celebrated the new year already. I wish you all the best for 2023 and remember to get health checks throughout 2023 so nothing creeps up on you or your families.

Yes, in another thread I said that for this year 2023 I wish the forum members above all good health and good personal relationships. This is a Bitcoin forum and it is normal that we put the perspective on it, on an economic/financial component of life and the best element created to store and transfer wealth, but first you have to have good health and a good relational environment.

Best wishes to you, yahoo62278, that all goes well and you have a fresh start in 2023. We will be waiting to hear from you and your return to the forum when you are fully recovered.
2079  Economy / Economics / Re: Every passing year seems progressively worse on: January 01, 2023, 05:49:56 AM
-snip

Well, it's not the first time I've had this discussion. If you look at it from one year to the next, you might have that impression, but if you look at 30 years ago, where there was hardly any internet use, no cell phones, or 100 years ago where the world had just come out of one world war, was heading for another and global hunger and malnutrition was much more common, you will realize that we are doing better, much better. If you happen to look at what was happening 1,000 years ago, you might faint from shock.

In the end, much of the blame for this lies with the market economy, letting people get rich if they produce useful goods and services for the rest of the people, which is something that pessimistic ideologies about the trajectory of humanity do not usually like.
2080  Bitcoin / Bitcoin Discussion / Re: Crypto (btc) is not for the weak on: January 01, 2023, 05:41:38 AM
First of all there is a huge difference between cryptocurrencies (more precisely altcoins) and bitcoin. The altcoins remain widely useless which makes their true intrinsic value be closer to zero regardless of how much they are worth right now. And that will ensure their long term dump which is what we have been seeing from the day altcoin market was created.
On the other hand, bitcoin is useful regardless of how the minority sees bitcoin or how much money they may lose if they buy bitcoin. The true intrinsic value of bitcoin is high and sometimes like these days it is actually higher that the current price. That ensures long term rise.

Yes, in the end what happens is that we have more than 22,000 shitcoins, and there is more and more shit, and apart Bitcoin. Of the altcoins, I think that in the end by pure statistics some will survive that are useful to the system, but very few, counting that CBDCs will be implemented, which means that those who are investing in these tens of thousands of shitty projects will lose their money, while those who bet on Bitcoin in the long term, not only will maintain the purchasing power but will probably get a higher appreciation than with any other financial asset.

Secondly the money that was lost over the years has nothing to do with bitcoin as a currency and it has always been about centralized services (mainly CEX) that are insecure and incompetent to keep their customers' funds safe. Talking about that in this context is misleading.

Well, not only insecure and incompetent, I believe that in some cases they directly intended to defraud even if they deny it, as in the case of Alameda and SBF, which was dedicated to create money out of nothing with a clear ponzi system, in which many people fell for what they usually fall in such schemes: bewitched by the (illusory) profitability.
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