So not only can banks withhold your funds at any time, they also take commissions, changing the rules of the game on the go. Not to mention that if everyone wants to withdraw their funds at the same time, then no bank will have so much REAL money - banknotes. The entire banking system is now numbers on the screen, not backed by real money.
Many thanks to all the countries where cryptocurrencies are legal: Switzerland, Japan, Italy, Spain, Germany - they show the whole world that they are not afraid of bitcoin, and that they share the ideas of freedom and honesty.
I am glad that I am not only a part of this movement, but also use cryptocurrency transactions, they allow me to send money to my parents.
Exactly. Banks are basically the ones with the reigns in the global economy. They can do whatever they want without being touched. Bitcoin fixes this. It allows people to become their own bank without the need to depend on a third party. Systemic risks are avoided with a decentralized and censorship-resistant network no single entity can control. I think we will begin to see people using BTC more throughly during times of crisis, as banks continue to print money like there's no tomorrow. That constant money printing will make people lose confidence in the traditional monetary system. El Salvador, and Central African Republic already adopted BTC as legal tender, so it should only be a matter of time before other countries do the same. Once the whole world embraces Bitcoin, banks will become history. It's a slow and steady process that could take decades before it materializes. Who knows how BTC will surprise us in the long run? Just my opinion  |
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I would agree that $100k is within the realm of possibility in the next bull run, just like when we thought that we can achieved $50k rally in 2017 and then 6 digits in 2021. And it seems those prediction are like shy of 1 halving. So if we didn't make it the last time, maybe in 2024-2025 it will be achievable.
And today, there is a break out run to $22k, we successfully defended $20k, and when that happens, we can assumed that the rebound might continue and we be back to where we are around $24k and next is that big mental barrier of $25k.
The FED is already doing some QE because of the collapse of Silicon Valley Bank, so it's likely BTC will increase in price during the short term. It's already heading for $25k. Unless the central bank does another rate hike, BTC won't be going down to $19k ever again. Things will really get interesting by 2024 once the block reward is cut in half. Maybe BTC will reach a new ATH by then? Every BTC holder is waiting for $100k to materialize, especially when halvings positively trigger market prices. I'd advise you to keep buying and holding BTC while prices are cheap. Who knows if you'll become the next Bitcoin millionaire once everything goes back up again? Just my thoughts  |
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I agree totally. I am a Charles Hoskinson fan myself and Cardano has the best opportunity laid down to be the ecosystem Ethereum could have deserved to be. It's nacient technology that shouldn't be taken as complete in any way shape or form.
Let's hope for a decade of Creative Destruction and Accumulation. Every $10,000 you can put in will be worth $1,000,000 in a Decade (inflation adjusted).
Cardano is seriously underrated. I think it's because the team has focused more on the technical side of the project instead of marketing/promotion. Compared with Ethereum, Cardano has a much more decentralized PoS algorithm. Fees are also dirt-cheap, making it extremely-convenient for "De-Fi". I know there are other competitors "on the scene", but I don't think any of them will last for long since they've left decentralization/censorship-resistance behind. How far will ADA go in terms of market price, is beyond me. There are billions of coins in circulation, so that takes away our hopes of ADA reaching the "triple digits" in the future. At least, the Cardano blockchain works as intended. Who knows if it gets to compete with ETH in the future? Just my opinion |
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well i'd say the usa is already hamstrung by the IRS backwards legislation about wanting to have a record of every single transaction you do even if it's just a cup of coffee you have to keep records on it and report it. so this won't really change anything who wants to use crypto in the usa?  Too much taxation would greatly stifle the growth of the crypto industry within the country. Consider how things didn't end too well for India when it imposed huge taxes to crypto users. Taxes need to be moderate to help prevent big industry players from migrating to another country. I'd say a 30% mining tax is too high. Hopefully, it'll get rejected by Congress, else there will be a mass exodus of miners from the US to other countries that are much more flexible. Every transaction made on the US with crypto is already considered as "taxable", so I don't get why the government wants to add more taxes on top of existing ones. It's all a deliberate attempt to try to harm crypto/Blockchain tech for good. Who knows where this will lead the country in the future? Just my thoughts |
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When people try to stake stable coin, particularly when it is associated with a high yield, they usually collapse at the end of the day, and other few places where you can stake stablecoin have low yield, and I ask myself what is the point of staking it after a year if I can't yield something tangible. I recommend that you buy coins and keep them rather than staking stable coins. It is safer to buy and hold good coins, and you will surely gain something before the end of the year, making it worthwhile to buy rather than staking.
I've been thinking about staking stablecoins twice, now that a trusted stablecoin like USDC lost its peg a few days ago. Why would I waste my time trying to get a high yield with my stablecoin, if it's not guaranteed to hold the peg of $1 forever? I've thought algorithmic stablecoins were the only ones doomed to failure, but I guess I was wrong. Stablecoins backed by USD reserves depend on the banking system to survive, so there's the risk of losing it all if a major bank collapses (like SVB did). It seems to me it's best to save money directly in a bank account even though rates won't be that high compared to "De-Fi'. Or you could put everything in BTC and wait until it goes all the way to the moon. Who knows what the future of stablecoins will be?  |
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I love Dogecoin because it was the first meme coin but I don't invest in any of them because I think they are in a very risky category. In my opinion, Doge coin is not a very valuable coin, but it has filled the gap in this category by itself. Therefore, I do not attach much importance to their successors and consider almost all of them hype. I think investing in higher quality projects always yields better and safer results.
People are investing in alternative "meme" coins because they think they're going to "explode" in price the same way Dogecoin did back in 2021. They've missed the train, and now they're pouring money like crazy in coins like Shiba Inu and Floki Inu with the hopes of becoming rich quick. But that's not the way it works. Those who invest into "meme" coins will end up getting "rekt" in the long run if they don't know what they're doing. Therefore, it is advised to only invest what you can afford to lose. Instead of choosing "meme" coins, why not choose a serious crypto project like ETH, LTC or BTC instead? Just my opinion |
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That is true, people are so much against CBDC that they are forgetting the alternative is fiat. They think that CBDC is alternative to crypto, but in reality it is government issued which means that it will be alternative to fiat and that is why it is such a great project.
I like it very much and I believe that we should be focusing on it as much as we possibly could, and support it a lot as well. Why did we disliked fiat? Because it was centralized and basically controlled by government and dated method, nowadays we can get it a better way with CBDC, still government controlled but at least not outdated and it could be something much better for the future our nations.
Don't get too excited about CBDCs, since they will give governments and central banks more power than usual. What they can't do with paper money (trace or freeze transactions), they will be able to do with a full-fledged digital currency. You can bet stablecoins will get regulated "down to the bone" once CBDCs are launched. They will probably even cease to exist as governments will restrict private companies from issuing their own Fiat-backed digital currencies. What will survive would be decentralized cryptocurrencies such as Bitcoin and Ethereum. But there will be a lot of restrictions in place, that would make it difficult for the average person to access them with CBDCs. This is just getting started, so we can't tell what the future holds for our society. We need to defend decentralization and privacy for people to get true financial freedom in a "surveillance state". Otherwise, we'll be doomed for good. Who knows how long will it take before CBDCs take the world by storm? Just my thoughts |
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Unfortunately, banks are a relic of the past, but still often used everywhere. Why should we be attached to them? My salary is first transferred to the bank, after which they carry out manipulations receiving interest, and only then the money comes to me. In any crisis, the bank will block your money, block transfers. I hope that in the future we will do without intermediary banks, they, like parasites, simply take a commission for each action. And I am glad that my money is stored in cryptocurrency, where I make decisions only for me.
Money held at a bank, is simply NOT your money at all. You're just giving away ownership rights by lending your money to such entity. Even cash (paper money) can be manipulated according to banks' own interests. With Bitcoin, that's another story. You truly "own" your coins as long as you have access to the private key or seed. There's no central authority in-charge of the cryptocurrency's monetary policy, so it's impossible to increase the supply at will. No one will be able to freeze or confiscate your funds thanks to the way Bitcoin was designed. In times of crisis, BTC could prove to be "sound money" for those who need it the most. Unfortunately, the vast majority of people worldwide see BTC as an investment tool to become filthy rich in the future (not as a currency). The constant fluctuations in price (volatility) would force people to switch to more stable assets/commodities such as Gold or Silver. Yet, we cannot compare them with BTC because the latter is relatively new to the world. If countries keep adopting BTC as legal tender, then its use as a currency will magnify. The sky is the limit to how far BTC will go. Who knows if "hyperbitcoinization" materializes sometime in the future? Just my opinion |
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We don't think the Fed can, but the reality is they can do whatever they want to do. Obviously, it can't go too crazy but even 0.75 points hike each quarter is not unthinkable -- and the theory from even last year from some economists actually was that the Fed wanted to create a recession (despite saying that's not what they want, actions speak loud).
And yeah, 2024 had always been the earliest we'd recover properly in my mind. Not sure why many people thought it'd be this year when we've barely spent a year coming down from ATH.
The USD is still the world's reserve currency, so yes, the FED can do whatever it's in its best interests to help make the USD stronger (even if that results in further pain for commodities/assets and the stock market). BTC is being treated as a "stock investment" so anything the FED does can either positively or negatively affect the cryptocurrency's price in the short term. We should take this opportunity to buy cheap BTC before it goes back up again. The next halving event should make BTC scarcer, making it an appealing investment to those willing to escape the monetary system empowered by banks. If things happen as predicted, we could easily see Bitcoin head north of $100k within 1-2 years from now. Reaching $1m would be much more difficult, but not impossible. It's all a matter of buying and holding coins to sell for profit during a bull market. As long as you don't go crazy putting your life savings into BTC, there should be nothing to worry about. Just my thoughts |
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I have 20 million but haven't bought any for over 6 months as I only bought at the time as I was fairly new to crypto and it was low compared to its all time high but I now understand market cap etc.
With its current market cap at $6.3b, how high can this realistically go? Is $100b possible? That would give it a 16x from current price if so which would be good.
With the release of Shibarium due this year I do think this will see the price rise but how much im not so sure?
It's not worth it because it's a "meme" coin. There's also a large amount of tokens in circulation, which should be able to devaluate SHIBA over time. Shibarium is just a L2 network that will go hand-in-hand with the ETH blockchain. I don't get why so many people are hyped about it, when there are other L2 networks with real use cases for the world (mainly Optimism and Arbitrum). I know developers are trying to make Shiba Inu useful, but they're going to need to do a lot more if they want the token to go all the way to the moon. Given the fact that SHIBA is a high-risk investment, I'd only put a small amount of money into it just to be safe. As long as you diversify your investment, there should be nothing to worry about. Just my thoughts |
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Since we all know that dogecoin is getting backed by Elon Musk and people also want him to accept payment in dogecoin for his Tesla cars. And since his single tweet can give a boost to the price of dogecoin, what do you think?
Does Elon really take doge to the moon?
The majority of people are believing that Elon will do something and Dogecoin will hit $1 by this year. What do you think guys? Will tesla accept dogecoin as a payment? And the chances are high that other merchants do accept dogecoin as a payment.
Share your thoughts.
The crypto market has been bearish lately, so we can't expect much from Dogecoin's price. Not even Elon Musk will be able to do anything about it. He used to hint the possibility of adding Dogecoin into Twitter, but nothing has materialized yet. I think Elon Musk is playing with investors to "pump" DOGE for his own benefit. If he is taking the cryptocurrency seriously, he would've kept his promise by now. Besides, why would you want a "meme" coin that's hyperinflated to rise in value? There are billions of DOGE in circulation, so don't expect it to go higher than $1 anytime soon. There are far better options to choose from in the market. Who knows if DOGE goes back to $0 someday? Just my opinion |
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President Joe Biden's administration has imposed a 30% tax on bitcoin mining electricity use. Bitcoin mining was not very profitable even though this tax was not levied in the past. But what impact will the new electricity cost have on Bitcoin mining?
Will this additional electricity tax attract new miners to Bitcoin mining?
What will be the impact on hashpower for a 30% mining tax?
Even before the imposition of this tax, some mining companies were in losses.
What are the old mining companies thinking about this tax?
That's a very high tax rate. Companies will move to another country instead of paying the tax. BTC is decentralized, so such a law (if it's approved by Congress) won't affect PoW mining in any way. On the contrary, it will make BTC stronger and set the US back in crypto/Blockchain adoption. The country has already been taking an aggresive approach against crypto, so it should only be a matter of time before EU takes the reigns as the world's biggest crypto hub. I hope the 30% tax rate only applies to mining companies and NOT individuals. Because that would only make matters worse. Who knows what's next in store for Biden's "Anti-Crypto Agenda"? Just my thoughts |
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Wouldn't it be better if lost coins were reintroduced into the network after a fixed span of inactivity?
I suppose the first thing one would say no for, would be by virtue of bitcoin's well-known deflationary property. This said, I believe it is much more important, especially in the longest term, that bitcoin keeps its property of conservation of energy, that is, having a fixed quantity of money ever available. By losing coins, instead, and by having them unrecoverable, we have not a fixed quantity of money available, rather a decreasing one, which is why we call bitcoin deflationary.
What would happen if we would make so that coins with 131 years of inactivity would be reintroduced into the network?
I see this having some positive effects:
- decreased impact of hereditary monopoly
- incentive to let the currency flow
- canceled the future necessity to increase the number of decimals for 1 BTC (very-long term perspective: too many coins have been lost, thus the necessity to further subdivide a coin)
That would be a very bad idea, especially when some people depend on Bitcoin as a retirement fund. They just buy and store BTC without touching it for years. Would you imagine the network claiming back the "lost" coins from a "retirement wallet"? It would be a complete disaster! Folks at the Bitcoin SV camp proposed it, and it turned out to be a huge failure. Even Satoshi said that lost coins are a "donation" to the community. The more coins lost, the scarcer BTC will get. You may think the supply of 21 million coins is not enough for people worldwide, but the fact is that BTC is divisible to 8 units. So there are essentially "quadrillions" of satoshis on the BTC blockchain. I'd leave Bitcoin as is instead of trying to add new features that will "break it" in the long run. Who knows how far will it go? Just my opinion |
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So yeah, clear as mud. Honestly didn't see it coming. Even with Powell's weird messaging on interest rate hikes, markets didn't immediately respond -- guess it took a while to sink it. Dollar's once more rising against euro and other currencies, and as expected Bitcoin's following suit.
So I think that's the cue for the next year or so. Dollar strength, and all reliant on what the Fed does.
The FED can't keep raising interest rates forever, else the economy would be entering a deep recession. At some point in the future, it's going to stop. That would be the moment for Bitcoin to go all the way to the moon. In the past few days, BTC went close to $19k but went back to $20k after USDC lost its peg. I think we'll be able to see new lows for the cryptocurrency if the FED continues to increase interest rates through the course of the year. Maybe it'll go as low as $15k before bouncing back to its original market price? We can't expect any "bullishness" on the market until the next Bitcoin halving in 2024. That or the following year would be very exciting for those who bought BTC during the dip. Who knows if $100k becomes a reality soon? Just my thoughts |
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On accounts  Got it. Thank you!  |
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There was a time in which altcoins were serious proposals and the community supported them, the developers got money to begin building their dream coin and then those which risked their money multiplied their capital many times over with relatively ease, it was a good model which did not required exchanges or going through KYC, but then the scammers saw this and immediately joined creating hundreds of scams in the process, and all trust in those new coins banished.
We can thank the ICO boom of 2017 for that. It paved the way for scammers to earn a "quick buck" without having to deal with the regulators. Back then, crypto was in a regulatory grey area so it was pretty much the "wild west". Altcoins proved to be a wonderful tool for scammers to "hunt" down their victims for money. It's this reason why investors are so skeptical about them. Not like Bitcoin which is used more seriously in the mainstream world (although we can't say there are zero scams linked to BTC). If you know how to play your cards right, altcoins can make you some decent profit in the short term. Otherwise, I'd suggest you stick around with Bitcoin for a while. Who knows what the fate of altcoins will be? Just my opinion |
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Yes, and I can name that price right now, it is 1 BTC=1 BTC. We discuss bitcoin rates to USD just because USD is still more stable than bitcoin. When bitcoin will become really low volatile and become a very slowly value-adding asset we will value goods and services right in it. Who will care of inflationary fiat currencies that time? A decentralized low volatile currency will become much more popular and useful for evaluating the economy. That would be a dream come true. But people often see Bitcoin as an investment tool (not a currency), so don't count on BTC becoming the global unit of account anytime soon. It will always remain an alternative to Fiat because of the way it was designed. In times of crisis, people will think about Fiat first (not Bitcoin). Things will change in the future as Bitcoin matures in the mainstream world. With many ways to get access to it, we can say BTC is truly unstoppable. Let's hope more countries join the "Bitcoin train", so we can be on a road towards a prosperous society in the future. Just my thoughts |
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To my understanding, staking usdt, usdc etc in your portfolio is a waste of assets and resources; why? because it is no different from using the native banking system fixed deposit method which we all know yields little to nothing in profits when we evaluate the turn over in a year. I think the most appropriate thing to do is to consider other investment options. Which options are there?
1. Trade your usdt/usdc in spots daily targeting atleast 1-5% per day (depending on your trading skills amongst others)
2. Participate nft flipping in opensea, (confirm that you have the skills, knowledge and experience to do this)
3. If you can, it is profitable flipping bitcoin lately on binance; if your usdt/usdc capital is huge; you can target simple %
4. Try participating in IDO events (especially on arbitrum network, the trends favor that chain lately)
I would suggest you avoid the expensive chains; the market is too bearish to spend so much funds on gas fees.
My humble opinion sir
Thanks for your suggestion. I haven't seen that much of returns on "De-Fi", probably because we're in a bearish market. Your chances for profit get lower if there are more people staking (lending) than borrowing. It's certainly not a good idea to stake on centralized platforms like Binance and Coinbase, especially when exchanges have been known to collapse in the past (eg: Mt. Gox and FTX). If you don't have access to the keys, then you don't control your crypto. It's as simple as that. Both Polygon and BSC have ultra-low gas fees, so I think I'll give them a shot. Who knows how much I'll earn by the time the next bull market comes in?  |
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I truly wish that your prediction would be right on this. Maybe if value will be as hard to control as torrents they will need a whole another approach. However at the moment it seems that regulators are "winning". i have already se my mind on accepting regulations and i am interested how complying with regulators and using permissionless, private transactions will go together. Or if they ever can even live side to side.
If the DEX complies with regulators' demands/needs, then it wouldn't be a DEX anymore. That's because the so-called DEX would need a middleman that would verify the ID of customers (KYC/AML). The whole purpose of crypto/Blockchain tech is eliminating the middleman, so I fail to see how DEXs will challenge CEXs in the long run if they become exactly the same thing. Privacy/freedom/decentralization cannot go hand-in-hand with regulations/VCs interests. The industry is in need of decentralized alternatives to help fight governments' attempts to "destroy" crypto. Ultimately, the community will decide the path forward for "the revolution". As long as decentralization wins, there should be nothing to worry about. Just my opinion |
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https://decrypt.co/122522/tornado-cash-fork-privacy-poolsTornado Cash Contributor Builds New Privacy Tool—And Hopes It Won’t Trigger the Feds "Ameen Soleimani, an early contributor to Tornado, has created a fork that aims to be a better version of the blacklisted Ethereum coin mixer. Users can still make anonymous transactions but there is the option to make it clear that the money being moved is not from something criminal—like a hack. The new app works just like Tornado Cash, but when users click the option to withdraw funds, they can generate a zero-knowledge proof which publicly shows they are not using a criminal blockchain address, but without revealing who they are." There may be a new Tornado.Cash alternative, but that doesn't mean it won't get sanctioned by the US government in the long run. Developers should've hosted the front-end interface on IPFS, just to ensure the new privacy protocol remains as censorship-resistant as possible. With a centralized domain tied to it, you can expect the US government to "shut it down" the same way it did with Tornado.Cash. Forks may show us the power of open source, but what matters is what mainstream governments think about it. And I'm pretty sure they won't allow people to gain privacy just like that, even if there are legitimate intentions behind it. Governments often use the excuse that crypto mixers are used for money laundering and tax evasion, so expect further scrutiny down the road. Who knows if privacy within the crypto/Blockchain space will be eliminated for good? Just my thoughts |
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