If that happens, I will choose to put Bitcoin on a well-known exchange, because I only need to remember the account number and password. Then delete all files on the phone. Finally, after I have stabilized, I will transfer the bitcoins to my cold wallet.

I think whether to invest or not depends not on the price, but on whether or not to accept Bitcoin.

If the price drops, they will find an excuse to say that there is a downward trend, and the investment risk is too great. There are always a bunch of reasons not to invest in Bitcoin.

I think this idea is ironic. Bitcoin is decentralized, but you said that the forum should set up a centralized organization, or even a virtual country.

There is a downside risk in the short-term, but it is still bullish in the long-term.
I hope that friends in the currency circle will pay more attention to the principle and meaning of Bitcoin and hold Bitcoin for a long time instead of treating the currency circle as a big casino.

miss here is not long for/think of, here it means lose

hardware wallet is used to store bitcoins. Most of the funds are placed in online multi-chain wallets to facilitate transactions.

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Thank you very much for your comprehensive information and advice. I really want to give you  merits, but unfortunately there is no more. I will add the content you provided, thank you again.

[moderator's note: consecutive posts merged, fixed broken quote]

 ;DThis is the biggest joke I have seen today.LOL
Ironically, the encryption industry originally wanted users to be liberated from traditional finance through this utopian technology, but now, it seems that they want to make traditional finance like insurance become the mainstream of the industry.

I have heard one of the clauses that the loss of service interruption is payable, but if it is stolen, the loss will not be compensated. If it is stolen, why should I buy insurance for it?
Another problem is that the amount of insurance coverage may not be enough for the amount of loss.

The value of cryptocurrency fluctuates too sharply. The amount of insurance that could cover all company assets before may not be enough as the value changes.

When the insurance industry encounters a complex industry such as cryptocurrency, it can only be a joke now.

Bitcoin is indeed a reassuring cryptocurrency. I wouldn’t worry if the price fell 50% . With enough confidence, it will come back sooner or later

There are three common characteristics, of people who invest in bitcoin to get rich:


The first is the average person, who knows it by accident, but isn’t interested in it and forgets about it until the bitcoin fire.


The second category is the faithful who insist that bitcoin is far more than they ever imagined.


The third category is the IT workers who first came into contact with bitcoin and were interested in blockchain technology. They studied the blockchain and mined bitcoins, but did not pay much attention to the value of bitcoin.

I’m not just looking at Bitcoin, I’m looking at other cryptocurrencies, some of the usual channels of information, and I welcome you to share your favorite software

1.Media information

A.Coindesk: the leading digital media community for encrypted assets and blockchain technology, with more than 10 million unique visitors.

B.Bitcoin Magazine: the first professional Bitcoin Magazine, founded in 2012 by Vitalik and his partner.

C.CoinMarketcap: the world’s best-known market and trend website that provides data on the market value, rise and fall of global currencies. Without a direct official referral, the CoinMarketcap seems to be a single, mostly market-based tool.

D.Bitcointalk

2.Transaction related websites

A.Biance: one of the largest exchanges in the world, with a wide variety of currencies, is good for the veteran.

B.Bithumb：The largest  exchange in South Korea.

C.Bitstamp: an established exchange in Europe where large transactions are very convenient.

D.bitFlyer: the largest trading site in Japan

3.Utility wallet

A.Bitcoin Core: Bitcoin’s full node wallet.

B.TokenPoket：Multi-chain wallet

Thanks tranthidung for the supplementary content.

DeFi is a highly innovative field. New projects tend to explode within a minute, an opportunity that is hard to grasp with DYOR（Do Your Own Research ）.
Anyone can issue scams or air programs, and nothing can stop them. It’s not technically easy, but at the community level, we can talk to each other, identify common fraud patterns, and separate legitimate innovation from fraudulent fraud.
So, here are a few things to keep in mind:

1. What is the purpose of the project?
One thing you can ask is: is the project trying to do something innovative? Are they trying to boost the digital economy with their projects? How is it different from its competitors? Do they have a unique value proposition?
These are very simple, common-sense questions. However, by asking questions to the project side, you can block out some of the fraud.

2. Development Activities
DeFi is tied to the spirit of open source. So, if you know something about code, you can look at the project code.

3.Was the founder anonymous?
Note that not all projects led by anonymous teams are scams. Of course, there are many examples of legitimate projects created by anonymous teams. Still, you should consider the impact of team anonymity when evaluating a project.
So, in short, must the anonymous founder’s project be bad? Not Necessarily. Is it harder for anonymous founders’projects to be held accountable for malicious acts? That’s for sure.

4.How are tokens distributed?
There are many nuances to consider in a token allocation model. In many cases it is even difficult to obtain this information, which is itself a risk. However, this is a basic piece of information that you must have if you want to get a complete picture of the project.

In addition to the correct address, you also need to choose the right type of public chain, such as ERC2.0, TRC, BSC, HECO, etc.

https://bitcoinmagazine.com/culture/need-to-know-bitcoin-and-taxes
It is worth noting that if an investor sells bitcoin at a loss and the price is lower than the purchase price, the investor is entitled to claim a tax cut, thereby lowering the total tax. At the moment, investors can understate their income by up to $3,000 a year because of investment losses, and if they lose more than $3,000, the losses can be pushed into the future to offset future taxes.


There are pros and cons to paying a bitcoin tax, and while paying a tax is a lot less profitable, paying a bitcoin tax also means being accepted by the public, which is a good thing when you look at the growth of bitcoin.

https://www.mytokencap.com/concept?lang=en_us
This APP can make detailed statistics of your asset profit and loss, and you need to fill in the buying and selling information

Biance has a price reminder function and profit and loss analysis.

When the price you set is reached, a bell will alert you.

The daily profit and loss will be calculated.

There are still people who are still wondering whether Bitcoin is inflationary or deflationary? This is also a controversial topic in the digital currency field. In my opinion, Bitcoin has a relatively constant continuous supply, so it cannot be regarded as a real deflation.

In the financial field, deflation and inflation are relative. Inflation refers to the increase of currency in the market. Compared with limited commodities, the purchase of a unit of commodity requires more currency, which is simply an increase in prices; deflation is the opposite, with insufficient money supply and prices tending to decline.

The total supply of Bitcoin continues to increase, but almost every 4 years, the supply will be reduced by half, until all 21 million are mined in 2140. In the long run, Bitcoin is neither inflation nor deflation, it is only programmed to lock the upper limit of supply and eventually become a constant amount of currency.

I don't want to buy these three. Not a hot currency, not a mainstream currency

Why not?

Both coins are maintained by a team, and there are a large number of coin holders.

Who can benefit the most in such a market? The answer is ordinary investors. Because this can only happen in a market where the benefits have not been allocated and the class has not been solidified. Only in this savage arena, an individual can perform miracles, and of course it is also possible to be broken into pieces. But as long as we take protective measures and take out funds that we can withstand failure to fight in this market, overall we can still minimize risks and maximize returns.

It is precisely because Bitcoin can bring us unimaginable benefits in each round of bull market, and repeatedly penetrate our cognitive upper limit, so we can not think about it with a solidified point of view, because it is still growing, and I think it will work miracles. For example, I believe that its market value will definitely exceed that of gold.

Buying it early may not be able to hold until now.like me.
In 2019, I bought 10 bitcoins. When I bought it, I told myself that I could hold it forever. The result was still being shaken off the car.What a painful realization.
The biggest mistake of people who buy Bitcoin without making money is that they don't have enough faith. They buy a dream that they don't really believe in.

Fortunately, it is not too late for me to understand this.