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1401  Alternate cryptocurrencies / Speculation (Altcoins) / Re: what about the fate of altcoins if btc drops to 10 dollars? on: May 01, 2023, 04:30:56 PM
BTC dead altcoin dead. BTC up altcoin makes only slightly movement. All of altcoins may be dumped to the all time low. Bitcoin is the key for altcoin to increase, if bitcoin is failing to increase and altcoin will be following it too.
I meant we must also aware about how strong bitcoin right now. Impossible for btc to be dumped so hard.

BTC has come a long way since day one. You can't expect it to lose value overnight. $10 is way too low for a scarce cryptocurrency such as BTC. If that happens, it would mean people have abandoned the cryptocurrency for good. So far, there hasn't been any indication that mainstream adoption for BTC is declining. On the contrary, adoption is on the rise even during these times of crisis (COVID-19 pandemic, inflation, Russo-Ukraine war, etc).

I'm pretty sure BTC will reach a new ATH in a few years from now. Since altcoins follow BTC's "footsteps", they will lose value big time if the "King of Crypto" goes all the way down to $10. But again, that will never happen because of the reasons mentioned before. Let's all sit back and enjoy the ride as BTC sets course to take over the world. Just my thoughts Grin
1402  Alternate cryptocurrencies / Altcoin Discussion / Re: Will crypto banks replace traditional banks soon on: May 01, 2023, 04:25:26 PM
There will literally be no point in having cryptocurrencies if you give them to a bank to store them for you know they won't give you access to your private keys and your assets will be totally under their control. It's better if you just keep them yourself in a decentralized wallet where you have access to your private keys and only you can access your funds.

Regarding crypto banks replacing traditional banks, the world hasn't reached that position yet, there are more fiat users than crypto users in the world right now, and the systems that have been running for centuries won't just vanish so easily.

The whole purpose of crypto is to "be your own bank". Like you've said, I see no reason of giving custody of your crypto funds to a third-party. Banks will never give you full control of your coins, the same way centralized exchanges don't. I think only newcomers into crypto will find "crypto banking" appaling. The rest will either use a CEX or practice self-custody of their crypto funds.

Mainstream governments are cracking down on crypto/Blockchain tech real hard, so it's likely "crypto banking" will disappear in the future. I wouldn't worry about this, as long as crypto remains decentralized and censorship-resistant. Just my opinion Smiley
1403  Alternate cryptocurrencies / Altcoin Discussion / Re: ETH gas fees are a joke. on: May 01, 2023, 04:15:56 PM
No way at all. Even reducing fee from default setup, could make your fund stucked during this highly busy network. Although eth gas fee has reduced a lot if it is compared with previous years. but it is still suffer to give us the best transaction rate what bsc, matic, trx does. So we have to give such fee if we want to transfer tokens through this erc Network. That's why i already moved with bsc.

BSC and other alternative blockchains are not as decentralized and censorship-resistant as ETH is. You're basically sacrificing decentralization for low fees and faster transaction speeds. Rising gas fees on the ETH Blockchain, tells us that people are using it more frequently. There's no need to worry about this, especially when there are L2 scaling solutions for ETH. Or you can decide to wait until gas fees decline to make your move.

ETH developers will soon roll out a series of network upgrades aimed to improve on-chain scalability. Once that happens, high gas fees will only become history. As long as ETH remains decentralized, nothing else matters. Just my thoughts Grin
1404  Economy / Exchanges / Re: Coinbase vs SEC on: May 01, 2023, 04:10:12 PM
The problem with Gensler is, he is using decades old rule to regulate modern economy. Why not just make new or update old laws/rules but instead they are driving away a new industry in the USA.

Agree. Congress really needs to work on that to ensure the healthy growth of the crypto/Blockchain industry within the US. There are already pro-crypto congressmen in the country, so it should only be a matter of time before this is realized. SEC Chairman Gary Gensler could eventually be removed from office if Congress decides to do so. How will this play out for the crypto industry, is yet to be seen. But I have a feeling things will turn out well without someone who's constanly "attacking" crypto all of the time.

All in all, Coinbase did well in stepping up to the game. It could win the lawsuit against the SEC due to unclear and outdated regulations. Maybe there's light at the end of the tunnel? Just my opinion Smiley
1405  Bitcoin / Bitcoin Discussion / Re: On Ordinals: Where do you stand? on: May 01, 2023, 04:05:53 PM
It appears much of the people who were waiting for their payments in bitcoin had to wait for 2 days before it arrived in their wallets? I was also waiting for a payment and it arrived after 48 hours of waiting. It was not an important transaction, however, there might be other people who need their payments more quickly and might be forced to pay a higher fee.

In any case, this news article mentions the cause of the high fees. If there is profit in these activities, I speculate this might begin the transformation of bitcoin into something similar to Ethereum.

...

Ordinals notched a new record on Saturday as the protocol used for inscribing digital assets on Bitcoin—producing assets comparable to Ethereum-based NFTs—had its busiest day yet.

In April alone, the daily record for inscriptions made was shattered four other times. That included roughly 72,000 inscriptions on April 2 and 193,000 inscriptions on April 23, according to the Dune dashboard.


Source https://decrypt.co/138438/bitcoin-transactions-soar-as-ordinals-barrell-past-2-5-million-notch-daily-record

That's the problem. Constant NFT inscriptions will eventually clog up the BTC blockchain to a point where TX fees will become highly-expensive. This will force us to use an off-chain scaling solution such as the LN for day-to-day payments. BTC was never meant to be used as a "multi-purpose" Blockchain. For that, we have smart contract platforms such as ETH, ADA, BNB, and so on. Leaving Bitcoin solely for finance is best to prevent network congestion or adding security risks to the same.

I guess Bitcoin Core developers are going to need to work on another upgrade to help alleviate high TX fees for a while. Either that, or nodes/miners stop accepting transactions related to Ordinals inscriptions for good. Let's see how everything will turn out to be in the long run, as Ordinals rises on popularity. Just my thoughts Grin
1406  Alternate cryptocurrencies / Altcoin Discussion / Re: HK envisions a positive outlook for cryptos, especially altcoins ? on: April 30, 2023, 08:20:50 PM
If at least one of those countries gave favorable signals that will be a reason for the market to pump, but while both of them want to use bitcoin to their advantage both of them also hate the freedoms people can get through it, which is why both seem to be so indecisive about it and their policies keep changing, however it would not surprise me if this was also nothing more but another scheme by the Chinese government so a few months later they can once again change their posture and create more FUD to try to bring this market down.

Most governments are joining the crypto/Blockchain train because of the taxation benefits. Not because they want people to achieve true financial freedom. The latest series of events tied to crypto mixers and privacy coins alike tells us how mainstream governments (especially the US) are against people's financial freedom. I think that's exactly what China will be doing through Hong Kong in the long run. It will "embrace" crypto/Blockchain tech to attract investors, but the government won't let people use decentralized cryptocurrencies at their full extent.

There's no need to be surprised about this, especially when China is a communist country. Communism = more power for the government and less freedom/rights for individuals. Let's see if China's move will trigger Russia to do the same in the future. Who needs the approval of governments for crypto to survive anyways? Just my thoughts Grin
1407  Economy / Exchanges / Re: Bittrex to shut its U.S operations on: April 30, 2023, 08:15:31 PM
@Abiky. Also, if CZ and Binance evade much of these regulations and to continue what they have been doing, it would also imply that the laws the regulators use have become limited in managing the cryptospace.

I shake my head because it was Bittrex that wanted to be regulatory compliant and they delisted much of the ICOs in the exchange on 2017. This caused Binance to become the exchange for maybe more than 80% of the market for ICO coins and tokens. However, what did it bring Bittrex for following the rules? Presently other exchanges are learning from CZ hehehe.

Regulations are there to protect investors against malpractices from crypto exchange companies. But too much regulations, will cause a mass exodus by said companies to other countries that are much more flexible. The US is trying to do the right thing by eliminating as much illegal activity as possible on the crypto industry. It's just that it's doing everything the wrong way. Congress needs to devise a proper regulatory framework to bring clarity to the crypto industry in the region. The first step would be to remove SEC chairman Gary Gensler from office. That would provide a sign of relief among crypto exchanges and investors alike.

I was surprised to have read about Bittrex leaving the US when it was always striving to comply with regulations. Maybe there's something else behind that made Bittrex take such a decision? Now Coinbase threatened to leave the US, so things will get interesting in the following months. Let's hope there's "light at the end of the tunnel" for the crypto industry to thrive within the US. Just my opinion Smiley
1408  Alternate cryptocurrencies / Altcoin Discussion / Re: Shiba Inu turns into privacy coin like Monero or ZCash? on: April 30, 2023, 08:10:30 PM
Shiba is just currently using their plan transition into a privacy coin as a catalyst to stay relevant to the market. Those who don't hold crypto wouldn't be excited as much as those who have it. Those who hold their this shiba coin will have something new to boast for though I also think that Shiba would be a first choice for those who would want to invest into privacy coins. Those established coins like monero or zcash would ultimately the first choice of investors as they have been long to the market and has the features that is tested and use by majority for a long time now.

Why would Shiba Inu want to "stay relevant in the market" by adopting privacy features? On the contrary, doing such a move will be a step backwards towards mainstream adoption for the cryptocurrency. The fact that privacy coins are being de-listed across centralized exchanges, tells us that there is strong opposition against them (especially by mainstream governments and banks). Thus, for the sake of the Shiba Inu project, it's best to leave things just the way they are.

Instead of focusing on privacy, Shiba Inu should focus on following the next big thing in the crypto/Blockchain space. NFTs, AI, and the Metaverse is where the money is. Not privacy/anonymity. Ultimately, it all comes down to what the community wants for the cryptocurrency. As long as decentralization is put first, nothing else matters. Just my thoughts Grin
1409  Bitcoin / Bitcoin Discussion / Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 on: April 30, 2023, 08:05:18 PM
They cannot go that far, or else they would risk ruining their economy, there isn't any country without a fiat currency, and even though i don't think any country is going to do that, but it surely cannot be a 'poor' country like El Salvador. The only thing i am sure of about El Salvador is that BTC is a legal tender in the country and it has helped to attract BTC tourists and enthusiasts, as for their BTC buys, i am not too sure about that because we can only rely on Tweets of their president on it.

Why would that "ruin their economy"? Is it because not many people in the region know how to use Bitcoin? There are plenty of merchants and/or businesses accepting BTC as payment method, so I don't think there will be a problem ditching the USD in favor of BTC. The Government of El Salvador can provide the necessary education to help spur Bitcoin adoption within the region. If you mean that the IMF and world governments (especially the US) will oppose such a decision, then yes, they will do it without a doubt. But El Salvador is a sovereign country, so it can do whatever it wants.

It's only been almost 2 years since BTC was made legal tender in El Salvador, anyways. Time will tell us whenever the experiment will fail or become a huge success that will make other countries envious. Just my opinion Smiley
1410  Bitcoin / Bitcoin Discussion / Re: Do you feel bad while paying with BTC? on: April 30, 2023, 08:00:56 PM
Fiat currencies are highly subject to inflation, so with time your savings to depreciate, this is a losing strategy, and in the case of bitcoin, the opposite is true. Whoever is able to understand this now will have a good advantage in the future.

The deflationary nature of Bitcoin makes it more suitable as a store of value than a real currency for the payment of goods and/or services. That is if you still measure Bitcoin's value in Fiat terms. But if you use BTC regardless of market prices, then it wouldn't matter. I really hope the day comes when BTC is used as the world's standard unit of account (not Fiat). Only then, "hyperbitcoinization" will become a reality.

Unfortunately, that won't be the case in the future since most people consider Bitcoin as an investment (not a currency). I'm fine with that as long as Bitcoin does the job it's supposed to (bringing banking to the unbanked and true financial freedom). With CBDCs right around the corner, we should expect BTC to grow bigger in the future. Maybe it will live alongside Fiat currencies for generations? Just my thoughts Grin
1411  Economy / Services / Re: [Crypto.Games] ★ Signature Campaign ★ Hero - Legendary[Full] ★ on: April 30, 2023, 07:57:44 PM
sorry for delay, payment has been processed.

No problem! I've successfully received the payment. Good day! Cheesy
1412  Bitcoin / Bitcoin Discussion / Re: Do you feel bad while paying with BTC? on: April 27, 2023, 04:55:50 PM
When it comes to volatility, for those who see bitcoin as a currency, a means of payment, bitcoin volatility is a big problem that needs to be resolved. But for investors, volatility is a boon because it will give them profits, if it goes away, we will also lose some users. I am an investor, but I also believe bitcoin will become more stable over time, and we could also see bitcoin returns getting smaller and smaller compared to previous years. It's actually getting bigger and more stable.

If bitcoin can stabilize, it is almost certain that it will become an alternative to fiat in some countries.

I don't think Bitcoin will ever "stabilize", especially when the world is still tied to the "Fiat Standard". Everything is valued in Fiat currencies these days. For volatility to stop, Bitcoin needs to replace Fiat as the standard unit of account. In other words, this means valuing things in BTC terms (not Fiat). But that can never be achieved when most people consider Bitcoin as a long-term investment instead of a currency. You're free to use Bitcoin the way you want to, thanks to the way it was designed (decentralized and censorship-resistant).

With real use cases growing by the day, it should only be a matter of time before the cryptocurrency becomes a "force to reckon with". Maybe we'll see more merchants and businesses accepting it as payment method in the future? Just my thoughts Grin
1413  Alternate cryptocurrencies / Altcoin Discussion / Re: Is it worth staking stablecoins? on: April 27, 2023, 04:45:04 PM
If your intention is to enroll it into their earn feature, you gotta take the risk but I wouldn't say that it's the safest place to store your stable coins.

Staking into exchanges has its risk and that's why we always say that don't store your cryptos in exchanges. While there are options that's giving you the choice to generate your private keys in wallets.

It's better to stake in there than to exchanges that gives no private keys to your holdings. There are desktop wallets that also allows that and that's safer IMO.

The biggest downside of staking through decentralized platforms are paying high TX fees. Hence, centralized staking services are much more convenient for those who "don't want to break the bank". Depending on your needs, would be the type of platform to use for staking stablecoins. One thing for sure is that stake rates on stablecoin deposits are not as attractive as those offered by native PoS coins. You'd earn a lot more money staking traditional PoS coins than just staking stablecoins. Yet, this comes at a high risk since PoS coins are often volatile at times.

I'd diversify my investment between stablecoins and PoS coins to help minimize as much risks of loss as possible. Who knows if acting early will lead you towards untold riches in the future? Just my opinion Smiley
1414  Alternate cryptocurrencies / Altcoin Discussion / Re: ETH gas fees are a joke. on: April 27, 2023, 04:30:11 PM
There is no other way if you have ERC20 network type assets, I think gass $3 is very standard compared to last few months which can touch $15 per transaction on ERC20 network.
the cheap one at this time is definitely the BEP20 network

Some operations on the ETH blockchain consume more gas than others. For instance, sending an ERC-20 token costs less than swapping tokens at Uniswap exchange. It all depends on the complexity of the smart contract or token itself. If you want to know an estimate of how much you'll be paying in ETH gas fees, I'd suggest you take a look at Etherscan's Gas Tracker.

I wouldn't use the recommended fee set by Metamask, as sometimes you end up paying more than what the network is currently asking. Setting fees manually would be your best bet to save as much money as possible. There's nothing we can do about this other than wait until fees decline, use a L2 scaling solution, or switch to an alternative Blockchain network such as BNB or Polygon. Let's hope ETH scales soon, so it could become much more accessible to the "average Joe". Just my thoughts Grin
1415  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Will Tether crash to $0? on: April 27, 2023, 04:25:42 PM
Tether is centralized and pegged to the US dollars which give it some level of credibility,  but the assurance is not there that it can be impossible to crashed to zero then also we can have some rare situations that can force the price to crash below recovery and one of such situation is were there is a back in tether network, this could impact its price beyond recovery level and also if the big bag holders decide to walk away pulling an exit one on the remaining tether communities.

Or a government policy could also force its price to fall below that recovery benchmark mark, so even though it seems impossible for the tether to crash to zero, it is also important we are aware of thepossibility for that happen also.

What's surprising is that in the midst of the banking crisis, Tether managed to retain its peg against the US Dollar. Other well-known stablecoins collapsed (mainly USDC and DAI) for a short period of time because of this. Either Tether is being heavily-manipulated on the market, or there's something else going on. With the issuing company (Bitfinex) adding new units of USDT to the supply, I'd take this stablecoin with a grain of salt.

You can never trust something that's isn't officially backed by the government (with the exception of Bitcoin and some other decentralized coins). If stablecoins are banned by the US government, you can say goodbye to your money for good. Who knows how long will USDT last? Just my opinion Smiley
1416  Alternate cryptocurrencies / Altcoin Discussion / Re: why people are always interested in altcoins on: April 27, 2023, 04:20:50 PM
There is no rocket science involved in it, as people are mostly interested in Altcoins because they are comparatively cheaper than Bitcoin and have a higher chance of return on investment. However, not all Altcoins perform well, only a few of them give good returns. To make a profitable investment, one needs to analyze and choose good coins carefully. Otherwise, Bitcoin is the safest option if we talk about the safest coin.

Besides being cheaper than Bitcoin, altcoins bring new features not found on the original BTC blockchain itself. People want to try out new and exciting things, so they choose altcoins as their "playground". Scammers know how much people love altcoins, so they deceive them in every way possible to steal a lot of money in return. The vast majority of altcoins are centralized, meaning they're highly-susceptible against external attacks and/or manipulation.

To thread safely, I'd suggest you put a large portion of your investment into BTC, while leaving the rest on a select number of prominent altcoins on the market. Once BTC "explodes" in price, you'll be able to gain some decent profit from your altcoin holdings. Crypto land often behaves in many strange and bizarre ways, so expect the unexpected. Just my thoughts Grin
1417  Economy / Collectibles / Re: [SALE] 1HoDLCLUB x Silk Road 2.1mBTC Fine Silver 999.9 Square ingot on: April 27, 2023, 10:49:31 AM
One (x1) Fine Silver Silk Road Ingot for me, please. Lowest serial number preferred. PM incoming soon. Thanks! Cheesy
1418  Economy / Economics / Re: Saving is Wasting? on: April 26, 2023, 05:08:07 PM
Especially in college, there's student's loans and they need to bring it with them until they graduate and find a job. There have been techniques of saving and saving a portion of 20% of your salary/income is a good practice.

But usually, it goes by 10% and the rest goes to expenses and everything and stuff that you need. Then, any amount or percentage you're able to save is actually a good progress because there are times that it's hard to do it.

Not a bad strategy. But in times like these, it's hard or almost impossible to save money because of ever-rising inflation rates. That's because you'd lose purchasing power with your Fiat in the long run. Banks' interest (savings) rates are pretty low compared against current inflation rates, so you're basically earning nothing in return. Bitcoin and Gold are better options, but they're often unstable at times (especially Bitcoin).

The OP is free to decide what to do with his money in the long run. As long as he doesn't spend more than what he earns, nothing could go wrong. Just my opinion Smiley
1419  Bitcoin / Bitcoin Discussion / Re: Russia's approval of BTC on: April 26, 2023, 05:01:09 PM
True, Russia has close economic relationships with nations like China and India, and these ties can lessen the effects of sanctions. Additionally, Russia has considerable negotiating power in the face of impending sanctions thanks to its capacity to export gas and oil to Western nations.

If Russia has a stable source of income, then it will have no need to adopt BTC as an alternative to the Ruble. The pioneer cryptocurrency will stay "banned" unless Russia is in a "tight situation" where it has no ways to fund its operations in the long run. There's no need to worry about this, as long as there are other countries supporting the cryptocurrency. Russian people would have no choice but to recur to P2P exchanges and DEXs to get access to the world of crypto/Blockchain tech. Bitcoin is already decentralized and censorship-resistant, so it's possible to access it through other means without bringing unwanted attention.

The world is changing at a fast pace, thus we should expect the unexpected in the future. Who knows if someday the Russian government changes its mind and gives the "green light" for Bitcoin use within the country? Just my thoughts Grin
1420  Bitcoin / Bitcoin Discussion / Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 on: April 26, 2023, 04:53:57 PM
I also think that a huge positive effect of such a bold move by President Naib Bukele as the legalization of payments BTC throughout the country is the fact that he himself and some of his government members really felt some financial freedom within their country.  

It seems to me, or rather, I am sure that such a young and very active president of this country is a model for other countries in this region, and indeed for many countries around the world.  I also think that such a step as the adoption of bitcoin as a means of payment showed the whole world that El Salvador is a country of young, active and active people, unlike countries like Great Britain or Norway, where everything is completely dreary and everything has somehow grown old Sad.  

For some reason, I imagine Salvadorans as such constantly laughing and having fun young students and students who are used to paying for coffee at Starbucks using LN on their Chivo wallet.   Smiley
It seems that it is Bukele who paves the right path to the future for them and all of us.  Or in any case, he found an interesting and promising way for the development of his country.  
I wonder if any of the residents of El Salvador, students or just people who know bitcoin read this topic?  It will be great!  if such people write something here so that we all would have reliable and up-to-date information from El Salvador.

El Salvador's success will largely depend on Nayib Bukele's ability to steer the country in the right direction. So far, he's been doing quite well by adopting a deflationary cryptocurrency such as Bitcoin to help boost the nation's economy. But if he's replaced by another contender, then everything achieved so far would be nothing but lost. It's only been around 2 years since BTC was made legal tender in the country. Let's see what will happen in the long run.

Maybe El Salvador will go as far as "ditching" the US Dollar completely and rely only on BTC as its national currency in the future? Exciting times await for El Salvador as BTC is set to reach a new ATH soon. If it turns out to be a huge success, other Latin-American countries will copy El Salvador's footsteps. The future is widely unpredictable, so expect the unexpected. Just my opinion Smiley
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