People are stupid. They've been told over and over about the dangers of trusting a third party with their coins. They have the example of Mt gox, mintpal, upbit and numerous other hacks and losses.

And still they keep their coins online because they're too lazy to set up their own wallets. (Though I concede that the size of the blockchain is now a problem if you haven't got a lot of memory in your computer).

Imagine a guy that pays a million dollars for a bread roll, while in the same time he can buy it for $1 at other bakeries. Such scenario would be crazy because no one would give million times more money for the same thing. That is why the above scenario is not possible in reality. But... in the crypto world, it is possible.

In the crypto world people are paying million times more for bitcoin than for altcoins, even though these coins essentially have the same features as bitcoin. Functions and features of cryptos are pretty straightforward. Elimination of expensive brokers, lawyers, and other typical “middlemen”. Low transaction costs. Transactions are transparent, quick, permanent, and hard to fake. Cryptos that are priced below $0.001 have all these functions and features. But despite that people are paying thousands of dollars for bitcon.

Of course that being the first in the industry and having reputation means something. For example, if a bakery has good brand reputation, consumers trust it, and feel good about purchasing its bread rolls, they might pay $2, $3, or even $10 dollars for these rolls if competitors sell them at $1. But no one would pay $1,000,000, since they are just flour, water, and yeast mixed together. The same is with cryptos. They are just numbers associated to address that are transferred through the network via some protocol. In that sense, bitcoin is equal to thousands of other cryptos, and  there is no rational reason for it to cost millions times more than them. To put it differently, bitcoin is a mega-bubble, even at $10, and it is only a matter of time before it bursts.

Jorg Molt was recently ridiculed on Twitter for claiming to be a co-founder of Bitcoin despite no one ever hearing of him. Today, he tweeted that Bitcoin’s price should recover because he just made an apparently large purchase.

Early this month, BeInCrypto reported on a new ‘fake Satoshi’ named Jorg Molt. Introduced at the SIMS convention at Symbiosis International University as the ‘co-founder of Bitcoin,’ Molt has since then stuck by his story. Despite being ridiculed on crypto-Twitter and beyond, Molt maintains he was present at Bitcoin’s founding, and subsequently claims to own 250,000 BTC.

Source link here

The first time I heard of the new Faketoshi himself, Jorg Molt, he was confronted by my man, I repeat! My man! Ken Bozak. Ken was in a blockchain conference where he took a video of himself pointing to Jorg Molt, the self-proclaimed new Faketoshi, saying that he is a scammer. I just watched his entire clip on Twitter, where they even took Ken's cap.

My man, Ken Bozak, was brave enough to do this to really expose Jorg "The New Faketoshi" Molt. I met Ken personally at Token 2049 Hongkong, and he was a fun guy to talk to.

So the new Faketoshi claims that he owned a whooping 250,000 BTC? Are you freaking kidding me man! Since I'm active in conferences, I would not hesitate to take a selfie with Faketoshi saying "I'm a huge basher of yours!" before pressing the button.

Ever since cryptocurrency has existed people have started to mine it using their PCs or Miners’ GPUs. Considering that cryptocurrency mining consumes a lot of electricity because of it using a lot of processing power, does it really cause a large ecological impact on the world?

Every time I see mining operations around the world, there are multiple miners in one place ranging from dozens to even hundreds in for those who can afford a lot of miners. That got me thinking that since there are a lot of GPUs running at once then it must use a lot of electricity which means that power plants, as a result, will need to generate more electricity which will lead to more pollution.

Is the carbon footprint of these mining operations large enough to make a large impact on the world or it doesn’t really cause a lot of pollution in the long run.
What do you guys think and are there any greener solutions for mining cryptocurrencies?

The Shanghai Headquarters of the People's Bank of China said that in the process of promoting the blockchain technology, virtual currency speculation has gone up. Next, the cryptocurrency business activities in the area will be continuously monitored. Once illegal activity is found, it will be punished immediately, and it will be done early and prevent it from happening. The Shanghai Headquarters of the People's Bank of China said it would rectify illegal cryptocurrency speculation and remind investors not to replace cryptocurrency with blockchain technology. As soon as the news came out, Bitcoin’s market was also affected by it. It recently broke through the $7,000 level and continued to go down.

what would be your top 6 safety concerns you have in the crypto space?

whether it be like scammers? wallet protection? exchange protection ? integrity of content creators?

lets hear it . and why you think its a concern

If He Forget everything on purpose ?   ( Like The genius for remember everything 10 years later everything he did making something he is alone able to see them ).

He know governements probably want to kill him or want him to work for them so he take the risk to be forgotten forever as a legend.

Imagine what he was able to do in 2008 already, when no one in world have the power to change the world, he was the one to believe he was able to start the revolution alone and change entire world by himself.

Nothing, he predicted everything perfectly, he will comeback one day i think he is already back but to crazy like 10 years ago no one believe him already.

I am a rather big fan of heist movies such as The Perfect Score, Ocean’s 11, the Mission: Impossible Movie Franchise and many more less well-known heist movies. While watching those movies, I’m just thinking would it be possible to plan a heist to seal some crypto-currency? Moreover, are there any cryptocurrency heists that have taken place in the real world so far?

Sure. Bitcoin could be worth that price or probably even more if people realize the importance of bitcoin in general and how it's a potentially great store of value, but I really doubt it will be in 10 years. For bitcoin to reach that price in such a timespan, the current financial system probably needs to collapse for people to be dumping their fiat into bitcoin.

Bitcoin did a lot of craziness last past weeks and what my attention went to this last 2 days is Bitcoin pumped and dumped in an expected way what's going on with it?!
Just found out on a tweet that it does a madness, you can check out the tweet:

https://twitter.com/TechnicalCrypt1/status/1194624162800652288

Disgusting BTC making me insecure !

I'm trying to build a bitcoin news twitter
https://twitter.com/bitcoinsights

What do you think?
Leave your valuable thoughts

Read the full article on the challenges and possible solution to living on Bitcoin daily here: www.forrestvisions.com/blog/living-on-bitcoin


Who here uses Bitcoin daily or lives on the financial crypto market?




I personally use Bitcoin wherever I possibly can, and accept it directly without converting it to fiat immediately. I have been using Bitcoin daily for years. (Ever since Bitpay started improving its Bitcoin debitcard product)

In my last post, I was asking why the Blockchain technology isn't adopted as fast as we suppose. I got a lot of replies which did not only enlighten me, but also enlightened others. It's cool to have lively people here. In this post, I'm asking a simple question. Since we've come to understand that some people consider the Blockchain technology and cryptocurrencies to be scam and some other stories, what have you done to help promote the Blockchain technology and cryptocurrencies? How many people have you introduced them to? How active are the people you introduced?

This would be great if bitcoin becomes legal to all the countries. It would be a great opportunity and investment when it is legally available. Imagine people are working for it to have a great opportunity to earn and have a source o money.

Of course, this is not about which of the forum members own bitcoin, as I supposed you all should hodl some coin, even if only a few satoshis.

The idea for the survey comes from the never-ending news that 10-20% of the people in a country are holding coins.
As I truly believe those numbers are at least overhypermega inflated, I tried to picture a survey that would shed some light on a larger base, even if it is a little biased since the starting point is obvious a holder.
Dunno if it will be effective if this topic will even get some traction in the first place, but hey, worth a shot.

So, what I look, simply post what you know of crypto ownership in the friends and relatives circle and if it's not a secret the region you live.

Example:
2 our of my friends hold some bitcoin or altcoin or 6 out of 12 relatives also hold some coins, I live in Bartovia
But put a bit more spirit in it.

I thought about doing it on google sheets but I really can't stop that from getting abused by somebody bored so..this is it.
I'm seriously curious about those numbers and if the mentioned percentage are reached even when centered around a bitcoin.

Oh, and please be honest about it.

Just a little question...
Are there any people interested in HQ automatic crypto currency signals in a Discord server? (And maybe with a feature of a DM to you for a certain price?)

I know that there are a lot of telegram groups that or doing these. But this will be a 99% free service... (Just like most telegram groups)
Will there be anyone interested in joining a server like this?