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1601  Bitcoin / Bitcoin Discussion / Re: Bitcoin and proof of stake on: March 20, 2023, 04:50:23 PM
Oh not this topic again!

Bitcoin does not need POS and will never implement POS! Look at what happened on the first day of Ethereum becoming POS: over 46% of all Ethereum POS nodes were owned by simply 2 addresses. Do you understand the danger ETH is in right now?

Its basically a centralized blockchain at this point, meaning a small group/ a few individuals have total dominion over the ETH blockchain. Do you really want this to happen to Bitcoin? To become subverted of control by rich and powerful individuals?

We need to make sure that Bitcoin remains truly decentralized. Otherwise it becomes a CBDC. Which is why the governments are shilling so hard with their bullshit environment protection narrative.

The "deep state" wants Bitcoin to switch to PoS just to become a centralized coin. Only then, they'll be able to do whatever they want with it. Exchanges usually hold most of the coin's supply (customer funds), so they will have absolute control over a PoS-based blockchain network. Consider how ETH is now manipulated by big players in the industry. This wouldn't have happened if it remained a PoW coin where anyone with a GPU could contribute to its decentralization.

For this and many other reasons, Bitcoin will never become a PoS cryptocurrency. I wouldn't be surprised if there's another hard fork related to BTC that would use PoS as its consensus layer. Ultimately, the longest chain (BTC) will prevail while the new one will quickly fade into oblivion. Who knows if BTC ends uo being the only PoW cryptocurrency in the world? Just my opinion Smiley
1602  Alternate cryptocurrencies / Speculation (Altcoins) / Re: DAI and USDC depegged! on: March 20, 2023, 04:40:06 PM
I guess stablecoin always have the risk of collapsing doesn't matter whether it's collateralized and algorithmic it's all the same, it's always the high risk lenders that causes the chain to break, even binance isn't trusting busd even though they are the one keeps promoting since then. goes to say that stablecoin only fit to be used for temporary tool for storing wealth and keeping it from inflation any longer holding would be risky to us.

Stablecoins aren't safe because they're not backed by the government. They're just "private currencies" with USD reserves on a bank (collaterized stablecoins). The risk of loss is higher with algorithmic stablecoins as they're not backed by real USD reserves. I don't get why many people trust stablecoins with their hard-earned money when they're subject to failure.

If you really want to protect your investment, just sell your crypto to USD directly. There's really no other way around. With the recent collapse of USDC and DAI, I'd steer clear from stablecoins until things are sorted out by the regulators in the long run. Who knows if stablecoins are eventually replaced by CBDCs? Just my thoughts Grin
1603  Alternate cryptocurrencies / Speculation (Altcoins) / Re: what about the fate of altcoins if btc drops to 10 dollars? on: March 20, 2023, 04:35:11 PM
Then ETH could be $1 or within that threshold, why? For simplicity's sake. I find it funny how you came up with the idea of ​​$10, I don't understand what to ask. Anyway, the ratio between btc/altcoin has always existed just how accurate and likely it is. And now that we are approaching important milestones in the market, before the volatility of the past time, prepare yourself to seize the opportunities that the market brings in the future.

ETH going all the way down to $1 is impossible. The same thing can be said about BTC going down to $10 per coin. But if it happens, most of the altcoins will die because they depend on these two cryptocurrencies alone (BTC and ETH) to survive. After all, Bitcoin and Ethereum dominate most of the crypto market. The only way this will materialize is if governments around the world ban crypto/Blockchain tech for good. Mainstream adoption will decline, leading towards lower market prices in the long run.

Altcoins often come with higher risks than Bitcoin alone, so I'd suggest you diversify your investment to protect yourself against a massive decline in market prices. No one can predict the future so we can only hope for the best. Just my opinion Smiley
1604  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Doge can it go 1$ on: March 20, 2023, 04:30:28 PM
Out of all the Meme coins out there Doge has proven to be the most reliable, the ATH was around $0.7 so the potential for it to it $1 is very high, remember it is trying to differentiate itself from other memes and the launch of DC chain is another big deal, though I am more bullish on DC chain than Doge for now because its market cap is very low $20 million currently as compared to Doge has compared to Dogecoin that is sitting around $10 Billion MC. I expect DC to do at least 20X from here

I don't know about Dogechain (DC), especially when many people claim it's a scam. Developers hold most of the tokens in circulation, so we should expect a "rug pull" anytime soon. As far as Dogecoin goes, I think there's a possibility it will reach $1 for a short period of time. Everything will depend on the situation of the global economy, and the crypto market itself for DOGE to reach such a new ATH.

Those who bought in DOGE cheap, will greatly benefit once it goes all the way to the moon. Elon Musk has been quite silent about DOGE lately (AFAIK), so don't expect any "pump" in market prices anytime soon. At least we know DOGE won't be going anywhere. As long as there's a community behind it, nothing else matters. Just my thoughts Grin
1605  Alternate cryptocurrencies / Altcoin Discussion / Re: Shiba Inu turns into privacy coin like Monero or ZCash? on: March 19, 2023, 05:32:31 PM
I doubt that Shiba Inu will ever be able to turn into a privacy coin like Monero or ZCash. Especially because Monero and Zcash are already better as they are and Shiba Inu is not really a coin but rather a ERC20 token. Which means it does not have its own blockchain, unlike Monero, for example. And as its on the Ethereum blockchain, it will never be an effective privacy token. Furthermore, I would stay away from any coin/token which is being held by Vitalik Buterin. He already sold part of his SHIB, showing everyone that he does not care about Shiba Inu, and recently he started selling tokens he does not consider "culturally or morally viable".

I am certain that its better to stay away.

It's technically hard (if not impossible) to add features to a token living on an existing Blockchain network (in this case, the Ethereum blockchain). It would increase gas costs and completely slow down the network. That's because ETH doesn't have the capacity to process smart contracts' computations at a large scale. If developers decide to make Shiba Inu a "privacy coin", they're going to have to use a L2 network just to reduce the burden on the main ETH blockchain. Or they could just create a decentralized mixer like Tornado.Cash that would let SHIBA users "launder" their coins on the go.

With Vitalik not taking the project seriously, we can't expect the token to "explode" in price anytime soon. It won't even reach $0.01 during its lifetime. Who knows if it dies in the long run as people move on to the next big thing in crypto? Just my opinion Smiley
1606  Alternate cryptocurrencies / Altcoin Discussion / Re: Is it worth staking stablecoins? on: March 19, 2023, 05:15:14 PM
I just stumbled across this thread, and I'm sure you know what you're doing by now--but goddamn, all of this sounds extremely risky.  Not even just the risk of handing your coins over to someone else; I'm wondering how these....whatever they are, sites, smart contracts, whatever....make their money that they return to you.  Are they lending it out?  Investing in something that's even riskier?  

These are stablecoins we're talking about, correct?  These de-fi services have got to be doing something similar to what banks do, else there's no return to be had.  If I owned any stablecoins (which I don't), I'd be way too afraid to invest them that way.  Eek.

"De-Fi" protocols usually reward lenders with every stablecoin deposit. Rates can vary depending on how many people are borrowing coins on the platform. The lower the number of people borrowing, the lower your annual income (APY) will be. It's all driven by algorithms. The only risk would be losing all of your hard earned money if the stablecoin loses dollar parity in the long run. Of course, you can also lose it all with a PoS coin if it loses value. But at least you're not given false promises that they will always retain their value unlike stablecoins.


If all that comes to pass, who needs stablecoins?  What's the advantage of them over cash if they're regulated in such a similar manner that they're equivalent?

I think the only advantage would be sending "Fiat" faster and cheaper across borders. Not to mention, stablecoin issuers are able to "freeze" or blacklist your address from being able to send/receive any coins at all (you can do a quick Google search to see for yourself how USDC has been able to blacklist addresses in the past). It's the perfect tool for bankers to get what they want. Therefore, cash is the only solution if you want to "stick" with plain-old Fiat. Otherwise, I'd suggest you go all-in Bitcoin for the long term.
1607  Alternate cryptocurrencies / Altcoin Discussion / Re: Altcoins dead? on: March 19, 2023, 05:06:14 PM
There are more than 20 thousand cryptocurrencies/tokens in existence. There are a lot of silly "projects" with their own tokens, as well as outright scams. Of course many all of them will die sooner or later. But don't fret, they will be quickly replaced by new projects. There is no need to worry that there will be a lack of altcoins while there is a demand.

This video can be taken as an example that illustrates the value of most tokens. Plus, it is a fun video to watch:
https://www.youtube.com/watch?v=sT1S4-6WAN4

The "altcoin" trend will never go away, as long as there's money to be made. What will disappear are existing altcoin projects that are often driven by hype with no substance behind it. People usually abandon such projects for the next big thing in crypto. I'd say around 90% of altcoins are nothing more than just pure cash grabs by developers. Only a select few will survive in the long run.

Why would I need to worry about alts when I have the best cryptocurrency in the world (Bitcoin)? We'll never know how the crypto market will behave in the long run because of its unpredictable nature. As long as you don't go crazy investing in altcoins, there should be nothing to worry about. Just my thoughts Grin
1608  Bitcoin / Bitcoin Discussion / Re: Do you think Bitcoin will lead the world currency market?? on: March 19, 2023, 05:03:44 PM
I agree with the statement you made. I believe the reason why we're seeing people bring up this type of discussion is that they never understand the government's concept ruling that decentralized currency will never be allowed to lead or be among the world currency market no matter the potential and the benefit it posed.
This is the exact reason why the government makes sure the movement and the creation of Libra introduced by Facebook were shut down years ago. I am sure if Satoshi Nakamoto didn't my himself invisible the government will have tried every possible means to him do something about Bitcoin based on how they tried to make it obsolete.
Having said that, some Bitcoiner are drifting away from the reason why Satoshi created Bitcoin maybe it is because of their optimism or high enthusiasm for Bitcoin because BTC was created as an alternative, not the main or leading world currency.

Libra wasn't going to be decentralized at all, especially with Facebook behind it. The new digital cash system was meant to work closely with banks to help provide "banking to the unbanked". It was easy enough to shut down the project due to its centralized nature. But I can't say the same about decentralized cryptocurrencies such as Bitcoin and Ethereum. While a decentralized cryptocurrency will never be accepted by mainstream governments as the leading world currency, it will certainly reduce Fiat's dominance by a large margin.

There will be more pressure against decentralized cryptocurrencies as they go against what was establish in the first place. I'm fine with Bitcoin just the way it is, as long as it remains decentralized and censorship-resistant. Who knows if Bitcoin lives for centuries? Just my opinion Smiley
1609  Alternate cryptocurrencies / Altcoin Discussion / Re: The market will come back bigger again on: March 19, 2023, 04:56:49 PM
Investors always look for deep markets and they never miss a deep market opportunity. We got a big opportunity to invest after the ATH of 2017 when there was a big correction in the market but many of us missed it.  We were disappointed by the subsequent ATH. When the price of Bitcoin went from $3200 to $68,000. Current deep market is another big opportunity for us where we can invest for long time and earn big profit at next ATH. The market will once again will come back bigger and it is going to happen very soon.

There's always an opportunity to invest in crypto at low prices. After each bull market, comes an intense bear market, making it easy to follow the rules of "buy low, sell high". People usually panic when they see prices falling all the way down the drain. But that's because they don't know how the crypto market works. Those who are wise, will buy most of the prominent crypto coins at a very low price to obtain huge profits once everything goes back up again.

It's predicted that the next bull market will happen during or after 2024, especially when that's the time BTC's block reward is cut in half. This is not the end of crypto, but rather the very beginning of a long journey filled with excitement for early adopters like us. Who knows if you get lucky next time by acting fast before it's too late? Just my thoughts Grin
1610  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Polygon (MATIC) to $20? on: March 16, 2023, 10:45:40 AM
I think the good thing working for Matic now is the ZK and L2 narratives which have greatly helped the price in this bear market because it has performed better than the likes of ADA, Solana, FTM, and other L1. To be I don't really expect much from Matic price the ATH is around $3, which is 3X from the current price level, at most the price would reach $5 which is 5X good return for conservative investors but not good for someone like me. Another thing that was highlighted was the rate at which the team burnt through their Treasury at that rate they won't last another two years without another raise, this is a red flag for me, marketing and branding have helped the project thus far, it is time they deliver truly on its potential

MATIC is not hyped like the others, so there's high potential it could maintain its price for years to come. It will rise at a slow and steady rate, as more companies and businesses join the "Polygon train". $20 is not impossible if the project continues to deliver as promised. It's one of the most active ETH alternatives in terms of development and innovation. If big names like Coca Cola, and Disney joined the Polygon chain, then we should expect the coin to explode in price sometime in the future.

I'm still staking MATIC and won't sell until it goes all the way to the "double digits". Who knows if early adopters of the coin will get lucky someday? Just my opinion Smiley
1611  Bitcoin / Bitcoin Discussion / Re: One reason why bitcoin keeps preeminent? on: March 16, 2023, 10:42:53 AM
We all know that there are thousands of cryptocurrencies across the world such as Bitcoin, Litecoin, Etherium, Dogecoin etc. Among all of these bitcoin is always remains on top. I think one of the reason behind this is limited supply of bitcoin. Most of the cryptocurrencies have limited supply, bitcoin is one of them. Bitcoin is always on high demand but has a limited supply. When the demand raises, resulting higher prize. What will be the another reason, in your opinion.

Aside from the "limited supply", Bitcoin is (and will always be) the "preeminent" cryptocurrency because it's the one coin that started this craze. None of the other crypto coins would've existed, if Satoshi didn't introduce Bitcoin to the world in the first place. Other coins may have better features, but they're simply "copies" of the original project (even if some of them aren't direct clones of Bitcoin). After all, every cryptocurrency uses Blockchain tech.

It's hard (if not impossible) for Bitcoin to lose its position as the #1 cryptocurrency in the world, unless a rival cryptocurrency comes up with a whole new tech that's superior to Blockchain (and I'm not talking about DAGs). It'll be decades, if not centuries, before this happens. Expect BTC to keep reaching new heights in the future. Who knows if early adopters like us will become filthy rich in the long run? Just my thoughts Grin
1612  Bitcoin / Bitcoin Discussion / Re: Do you think Bitcoin will lead the world currency market?? on: March 16, 2023, 10:35:37 AM
US dollar is the world accepted currency and can be used as a medium of exchange.  In the crypto world, Bitcoin is the most popular and the highest accepted currency with greater value. Different countries have permitted bitcoin for transaction and many of them are thinking so and will eventually do so. Its acceptance is gradually increasing day by day. Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future?Huh

I know Bitcoin is getting adopted by many countries worldwide, but let's not get ahead of ourselves. Fiat is and will always be "king", because it's backed by the government. Which means the USD won't be going anywhere as the world's reserve currency anytime soon. Even if it did lose its status as the "reserve currency of the world", it certainly won't be replaced by a decentralized cryptocurrency that's outside the reach of both central banks and governments worldwide.

I'm fine with BTC just the way it is, as long as it proves to be a strong alternative to existing Fiat currencies. What's important is that people can get true financial freedom no matter where they are in the world. Bitcoin is already doing its job pretty well, so there's that. If it stays decentralized, it will be able to last a lifetime. Maybe it will co-exist with Fiat decades into the future? Just my opinion Smiley
1613  Alternate cryptocurrencies / Speculation (Altcoins) / Re: what about the fate of altcoins if btc drops to 10 dollars? on: March 16, 2023, 10:30:29 AM
we will not know for the price of bitcoin in the future, and I just want to know what you think, about the question this time that I will ask you all, namely..
what will happen to altcoins if btc price drops to 10 dollars?

If BTC drops to such a low price (which I doubt it), altcoins will become "worthless". Many of them will die, leaving us with only a few players such as Ethereum and Litecoin. Crypto/Blockchain tech is just getting started, so I wouldn't hope for a major downfall in market prices in the time being. It could take decades, if not centuries, before BTC and altcoins drop all the way down to "rock bottom".

I'd focus on filling my "pockets" with prominent coins at a discount, to sell them at a profit during the next bull market. Don't expect much from altcoins, especially when they aren't as comparable to Bitcoin in terms of decentralization, and censorship-resistance. They're just experimental grounds for Bitcoin which is the real deal. Who knows how long altcoins will last? Just my opinion Smiley
1614  Alternate cryptocurrencies / Speculation (Altcoins) / Re: DAI and USDC depegged! on: March 16, 2023, 10:27:37 AM
Today this 2 stable coins crash for almost 12% - 20% price decrease on the dollar. Probably this is the effect of Circle downfall due to Silvergate and Silicon Valley Bank collapse which is holding most of there reserve funds.

I don’t know what’s happening on DAI but best guess is something bad going on MakerDao. Invest safe! Avoid stablecoins for now!

They've crashed, but it seems that now the peg is restored. So much for "collaterized stablecoins" that were often claimed to be a safer alternative to "algorithmic stablecoins". This tells us stablecoins are not 100% guaranteed to hold their peg for a long time. I was shocked to read DAI lost its peg, especially when it's decentralized. Only then, I've realized that MakerDAO had USD reserves on SVB just like Circle's USD Coin. It was a complete mess, but I'm glad everything got sorted out.

If the FED hasn't "rescued" SVB deposits, it would've been the end of both DAI and USDC for good. The issuers need a better strategy to prevent such catastrophe from repeating itself again. Hopefully, regulators will weigh on the industry to give a better sense of legitimacy to mainstream investors and traders alike. Who knows if Tether (USDT) would be the next stablecoin to lose its peg? Just my thoughts Grin
1615  Alternate cryptocurrencies / Altcoin Discussion / Re: Is it worth staking stablecoins? on: March 15, 2023, 04:50:04 PM
Staking stablecoins on a centralized exchange doesn't have any appeal for me, instead of having to use a centralized exchange it's better to use DEX which is of course better because it only uses smart contracts to be able to connect and be able to do staking easily. But currently stablecoins are also quite risky. Just see how USDC can crash to a price of $0.88. Gotta be wary of whatever you holdin' on. But Bitcoin is still the best to hold under any circumstances.

The risk of staking stablecoins is simply too high to bear. What happened with USDC lately, tells us that stablecoins should not be trusted at all. You'll never know when they'll go all the way down the drain in an instant. I think it's best to convert your crypto into cash to avoid unnecessary risks in the long run. Saving money in a bank could be an option, but rates are not that high compared to "De-Fi".

At least, the risk of loss is lower with banks. I'd expect stablecoins to mature once regulators tighten their stance against them. With fierce regulations, stablecoin would prove to be legitimate enough for serious investors. Maybe they will get to live alongside Fiat for generations? Just my thoughts Grin
1616  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Bitcoin, Dogecoin Gain After Musk's Tweets, But Will There Be Another Bull Run? on: March 15, 2023, 04:46:17 PM
A ban on privacy coins doesn't work if the project is decentralized and based on the own blockchain. And the last step for survival is a no KYC decentralized exchange. Such a complex decision gives a full independence to the coin.

That is true. But less people will use something that's been "outlawed" by the government, due to fear of going to jail or having to pay a fine in return. It's simply not worth the risk. If you have to use a privacy coin, it would need to be in secret to avoid getting caught by the government.

We can't expect privacy coins to rise in price, especially when there's a lot opposition against them. Not like Bitcoin or Ethereum which are embraced by the government with open arms (sort of). These two will go to "infinity and beyond", as long as they don't introduce privacy mechanisms into their networks. Elon Musk is pro-government (AFAIK), so don't expect him to support a privacy coin anytime soon. Who knows where the next bull market will lead us? Just my opinion Smiley
1617  Alternate cryptocurrencies / Altcoin Discussion / Re: Shiba Inu turns into privacy coin like Monero or ZCash? on: March 15, 2023, 04:40:45 PM
I hope that someday there will be one cryptocurrency that can satisfy all the needs of users. Now many projects are being created and maybe over time, most of the shortcomings of cryptocurrencies will be eliminated, and there will be one,
which will suit everyone.

That "one" cryptocurrency would be none other than Bitcoin itself. It can do everything altcoins can do via the use of sidechains, L2 networks, and other scaling techniques. Why invest in a risky coin like SHIBA, when it can go all the way down the drain in an instant? "Meme" coins are often manipulated by whales for their own benefit, leaving the average person "rekt" in the process.

The privacy feature could be some sort of "buzz" to "pump" the coin to new heights. But I doubt developers will go this route, especially when they know governments are hunting privacy coins like crazy. If you know how to play your cards right, then SHIBA is the right investment for you. Otherwise, I'd suggest you look elsewhere. Who knows if this coin eventually dies in the long run? Just my thoughts Grin
1618  Alternate cryptocurrencies / Altcoin Discussion / Re: Why are investors so sceptical about Altcoins? on: March 15, 2023, 04:35:39 PM
Having some understanding that we couldn't really just pick the right altcoin anytime we try, we are not that lucky, is the biggest reason. People are skeptical because there has been a ton of altcoins that caused a lot of trouble for people and that's the issue, we are not talking about something that has been clean so far and we have worries out of nowhere, we are talking about something that has been dangerous since the first try and that is why people are not entirely sure about it.

I mean if you have seen so many guns fired in a place, would you keep going back in there just in case the food is good? I doubt so, that's why there is a worry.

The vast majority of altcoins are unstable and highly-centralized, making investors think twice before pouring money on them. Bitcoin is a safer investment because it's the one cryptocurrency that started this craze. No other blockchain compares to Bitcoin in terms of decentralization and censorship-resistance. The fact that the supply is limited to 21 million units, is more than enough for investors to take it seriously as a long-term store of value.

I'd say altcoins are experimental grounds for testing out new features before they're rolled on the BTC blockchain. Developers will decide which features are worth it, for the community to review them. If you know how to play your cards right, altcoins are for you. Otherwise, I'd suggest you "stick" with Bitcoin for a while. No one knows what the future holds for alts, so we can only hope for the best. Just my opinion Smiley
1619  Alternate cryptocurrencies / Altcoin Discussion / Re: Is Shiba Inu still worth it? on: March 15, 2023, 04:30:13 PM
Shiba Inu is the kind of coin that can skyrocket out of nowhere, dump and then go silent for years, so if I were thinking about investing in an altcoin right now Shiba Inu would not be one of the coins in which I will be interested, only those that love to take huge risks would do so now, and while it is a move that could create very positive results it is also the kind of move that can cause a person to lose so much capital they may never recover from such a mistake.

In other words, Shiba Inu is a high-risk, high-reward coin. It's not worth the investment if you don't know what you're doing. For the average person, Bitcoin and Ethereum prove to be better alternatives to Shiba Inu for making long-term profits in the safest way possible. SHIBA is just a "meme" coin that can be easily manipulated by whales. It's the perfect tool for traders to make a lot of money in the short term.

But I don't think SHIBA will last for long, especially when it has no real use cases behind it. Only Dogecoin will, because it was the first "meme" coin that spurred the movement. The crypto market is widely unpredictable, so expect the unexpected. Just my thoughts Grin
1620  Alternate cryptocurrencies / Altcoin Discussion / Re: Will cryptocurrency replace other currencies? on: March 14, 2023, 06:02:37 PM
If you try to draw up a real plan to replace the currencies of states with cryptocurrency, it will become obvious that such a development of events is impossible. The form of social structure in people has always been the state, which has its own attributes of power, including its inherent currency. If the state loses control over the currency that circulates in the country, it will lose the ability to influence economic and political processes and will be replaced by the same form of government, only more viable. However, the essence remains the same.

It is predicted that in the future states may be replaced by the dominance of individual corporations. In practice, these will be the same mini-states and they will also have their own currency.
Cryptocurrency can only be an alternative to the currency of states and nothing more.

States will begin to degrade until corporations take over the world. There will be little-to-no government influence in our future society. While crypto will never replace Fiat, it will prove to be an "escape route" from "evil corporations" for those who need it the most. Since privacy is decaying right now, people will switch to decentralized cryptocurrencies for true financial freedom. Crypto is just starting to blossom, so it's going to take decades before they become widely adopted by everyone worldwide.

We're early adopters of the revolution, considering that BTC is only 14 years old. The more unstable nation states become, the more people will trust crypto/Blockchain tech. Who knows if we'll be the ones laughing out in the end? Just my thoughts Grin
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