To understand if it will be a threat or not, first we have to understand how that digital dollar will work... if governments can print unlimited money with the digital dollar just as they love to do with real money, then it will be a threat to bitcoin. But if the money is limited just as in bitcoin then it will be something good for the cryptos ecosystem.
The Digital Dollar (or any other CBDC for that matter) will never pose as a serious threat against Bitcoin simply because it's centralized by design. Bitcoin's been doing fine alongside paper money anyways, so I think everything else will remain the same after CBDCs are launched for public use. What matters is that Bitcoin remains decentralized so it could resist government interference. Only this way, Bitcoin could survive for generations. I wouldn't care about the Digital Dollar because it will be subject to inflation just like paper money. Banks will continue to create new units of the currency whenever they see fit, to manipulate the economy to their own advantage. I'm glad there's an alternative that empowers people to be their own bank. Who knows if governments will ultimately give up on their task to try to destroy Bitcoin for good? Just my thoughts  |
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You think so?
Another low might be possible although we have lesser days left to roll over the next year but let's see what would be the outcome of the price action. Hey mate, the last thing you could do is to trust some crypto news or even taking advice from traders which you think that knows more than you just stick to your portfolio and hold your bitcoin rather paying attention to whatever news that may rose from some people over the media.
It's likely Bitcoin will continue to decline in price due to the fragility of the global economy. It's going to take quite a long time before Bitcoin goes all the way to the moon. To make matters worse, the crypto industry witnessed the collapse of a major exchange. This should put additional pressure over Bitcoin's price over the next months. Our only hope lies on the block reward halving of 2024. Just buy and "hodl" now, to reap huge rewards in the future. Just my opinion  |
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Well there are different mindsets anyway. For starters, it would not really hurt to start first in relying your coins to a trusted third party. There would be factors such as KYC that would make people just stop using these centralized exchange and I gotta be honest that sometimes I just want to say "fuck it I'll hold it for now in a custodial wallet for its service offered as well".
There is no perfect security nor perfect safety, but we could help risking our money to strangers that would not think twice stealing our money. Back when I was day trading, I did not trade small amount but in the end I still withdrew it all.
It's so much easier to use a centralized exchange simply because someone else holds custody of your coins. You don't need to worry about securing your coins against hacks, theft, or many other undesired situations. Also, fees per trade are pretty cheap compared to those charged by a decentralized exchange. That's why I think people won't abandon CEXs altogether, even if the FTX collapse caused some distrust among traders and investors alike. These unfortunate series of events will force CEXs to provide some proof of reserves audited by a reputable entity or face serious consequences from the government. Of course, that doesn't mean CEXs will become hack-proof or anything at all. We should always be careful when depositing coins in a CEX due to their highly-risky nature. As long as you don't put large amounts of money on them, you'll have nothing to worry about. Just my thoughts |
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there are good and bad side of this situation. good - because people will be more cautious dealing with exchanges or centralised ones. bad because it gives another reason for noncrypto users to think that crypto market is rigged or fraudulent market. but either way, every user should educate himself with this scenario to understand better why such failure is happening all the time. it is not the technology that is rigged but the people who is handling or managing it have ill intentions. they may not have such intention at the beginning, but as they accumulate wealth, they change their route owed to greed and other selfish desires.
We will eventually get over this and start a new chapter on the crypto industry. Unfortunate events like the Mt. Gox collapse, the Terra/LUNA implosion, and the FTX collapse are only "hiccups" that will make crypto stronger in the long run. As I've mentioned many times before, weak hands will sell but strong hands will keep buying no matter what. If you really want to become rich, I'd suggest you buy and "hodl" as much coins as possible. In the future, crypto will be subject to tighter regulations from mainstream governments. But you can bet scams, theft, and/or hacks will be at their lowest point because of this. Crypto needs lots of government support if it wants to reach the globe (and higher market prices). Who knows if FTX's collapse will force centralized exchanges to change their business model? Just my thoughts |
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What do you think will happen if the price of the CHIA coin rises to 200-300 dollars? The number of miners will increase, the hashrate will increase, and new miners will mine on pools, and not play with luck in solo mining. As a result, solo mining will be possible only for large miners, and not for home miners with a couple of dozen hard drives.
Probably. But I wouldn't count on CHIA going up in price anytime soon, unless developers come up with something big for the project. Investors aren't that interested in HDD-mineable coins anymore. You can see why coins that are mineable with ASICs and GPUs are at the top ranks in market cap these days. Even PoS coins are getting traction (although they're extremely centralized). At the end, HDD mining will only become a niche for those who're willing to waste large amounts of time and money just to support a blockchain network. At least, we have a variety of options to choose from. Who knows what would be of CHIA and BURST in the future? Just my opinion |
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If the countries worldwide did not ban or cannot ban tree cutting to print fiat due the supposed climate change policy, I see no reason why bitcoin mining should be ban. Their argument about the effect of mining on the environment is just as the same as that of tree-cutting. However, I do believe that using solar and wind power would make bitcoin mining more environmentally beneficial. The issue is that many bitcoin miners are looking for locations with low electricity cost to mine the cryptocurrency, which is why the government is pushing to ban it.
It's all a matter of what's most convenient for the government. Bitcoin is decentralized, which means it's outside the scope of any government and/or central bank worldwide. You think governments will go easy on Bitcoin when it gives people true financial freedom? We should expect further scrutiny from such entities until they "destroy" Bitcoin for good. I know they won't succeed, but at least they will make an impact over its usage in the long run. The mining ban is nothing compared to what's going to happen in the future the more popular Bitcoin becomes worldwide. I doubt Bitcoin will change to PoS, since that would mean sacrificing its decentralization and censorship-resistance. Who knows what will happen next? Just my thoughts |
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I can also add what makes DEX unique. It's the ability to pay for a transfer and not get the service required. Many people don't want to mess with DEX because the hassle with smart contracts and their calling, which costs money, is sometimes discouraging. CEX is much easier for the average user who doesn't want to deal with all the smart contracts, bridges, blockchains, wallet connections and stuff like that. He just needs to quickly and conveniently exchange one currency for another without any slippage, without any fees for calling up a smart contract and cancelling the exchange due to incorrect or expired quotes.
Fees are a huge problem, especially when people are required to pay each time they perform an action on a DEX. I guess that's why many won't abandon centralized exchanges even though these don't provide self-custody of coins. If developers would've improved the user experience of DEXs, such platforms would've been a big hit by now. Fortunately, there are Layer-Two scaling solutions being built on popular blockchain networks (mainly ETH) to help address the "high fee" issue. I think this may just be the beginning of a long journey for DEXs. As with any new technology, there will be flaws and many other issues. But things will improve as developers continue to put their time and effort into it. Maybe sometime in the future DEXs will become a viable alternative to CEXs? No one can predict what will happen in the long term, so we can only hope for the best. Just my opinion |
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Yes! I also miss those days when it's too cheap and we're all happy to do transactions and no complaints about the fees.
Well, like the old days everything has been okay but what we are experiencing right now is part of the market's maturity and growth.
It's possible that Dogecoin might be delisted by some exchanges but who's going to dislike this friendly meme coin?
Every coin gets delisted from exchanges for unknown reasons. But I can tell you that DOGE will survive because it's one of the oldest cryptocurrencies on the market with a strong community behind it. Elon Musk may have "pumped" its price last year, but it seems things have settled up a bit. Prices aren't moving that much because there is a lot of negativism surrounding the crypto/blockchain industry. Dogecoin wasn't meant to be used seriously, so I wouldn't expect huge returns from it in the future. I'd be surprised if it goes to $1 due to hype. If that happens, network fees won't be inexpensive anymore. I'm pretty sure developers will think of something before network fees soar like crazy. Who knows how far will the "meme" coin go? Just my thoughts |
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I have a couple of DiY silver coins (redeemed) that I'd want to remove the hologram sticker residue. Is there a safe way to do this without damaging the coin itself? If I manage to remove the residue, I will send them to ICG for grading as "blank" coins. Any suggestions and/or recommendations would be greatly appreciated. Thanks in advance. |
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I want to know your opinion about filecoin, this coin was created in 2017 if I guess right, it got to $238 in 2021 which was the ATH. As of today, the price is back to $4.5. That was a huge price drop, but I like the saying that a drop in price of a coin is an opportunity to buy, this is true for bitcoin because bitcoin will attain ATH, but not all altcoins were about to attain ATH. With what I am seeing about filecoin, I am thinking it can get to that price again which would be a huge opportunity, but I do not know much about the coin. Anyone that knows more about this coin can post here to let me know if the coin is worth going for or not. Thanks in advance.
Filecoin is just another cryptocurrency whose purpose is to safeguard a person's important files into the decentralized cloud. It's as similar as both Storj and Sia. Whenever Filecoin is a good or bad long-term investment, that's up to you to decide. Considering that Filecoin is an old project (5 years since its inception) that made it this far, I think it will last for generations. Many are saying decentralized cloud storage is the future, so maybe there's a chance Filecoin will get all of the attention it deserves someday? As long as you don't put all of your life savings into this cryptocurrency, there should be nothing to worry about. Just my thoughts |
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Dogecoin gained popularity due to its low cost as well as its welcoming community. Its community of users behind Dogecoin is involved on various social platforms, and it gained popularity specifically from Reddit.
Doge could fail because -
Dogecoin could fail in the near future due to its outdated blockchain technology. The Dogecoin blockchain is built on the Litecoin blockchain, which is based on Bitcoin's Blockchain.
One of the main issues with old blockchains is that they're not scalable. They are unable to manage large volumes of transactions without slowing down or mistakes.
Investors advice on investing in Dogecoin now as this is being the best time to purchase doge. Dogecoin prices are expected to rise as we approach the annual close. The increase in price fluctuations may eventually assist the price to soar and as per Coinpedia doge price prediction it will close the year at $0.118.
Are these cons going to result in dogecoin price failing or Elon Musk support for it make this coin price increase?
Dogecoin's price falling in the future? Yes. But even so, I think Dogecoin will survive because of its decentralized and censorship-resistant nature. Before Elon Musk began supporting the cryptocurrency on Twitter, Dogecoin already had a respectable amount of supporters behind it. If Mr. Musk gets bored of DOGE, the community will help prevent the coin from collapsing in its entirety. Dogecoin may not scale towards millions of people worldwide with its on-chain capacity, but it's still a fun cryptocurrency that doesn't "break the bank". My guess is that developers will port "The Lightning Network" into Dogecoin, once network usage increases by a large margin. As far as I know, there hasn't been any network congestion yet, so scaling off-chain would be something of little concern these days. Who knows what would be of DOGE in the future? Just my opinion |
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TRON is an ambitious project dedicated to the establishment of a truly decentralized Internet and its infrastructure. The TRON Protocol, one of the largest blockchain-based operating systems in the world, offers public blockchain support of high throughput, high scalability, and high availability for all Decentralized Applications (DApps) in the TRON ecosystem. In last few weeks of tweeter account of Tron, The most notable developments included the formal adoption of the 79th Committee proposal. The main content of the committee proposal was to modify the No. 11 and No. 47 network parameters. The aim was also to increase the unit price of energy from 280 sun to 420 sun. TRON investors can expect this from TRX during 2023Last days TRX’s price action also aligned in favor of investors, At the time of writing, TRX was trading at $0.05597, It has gained approximately 9.70% in the last 30 days and approximately 2% on 15 Dec and is following an upward trend. Considering the market indicators coinpedia tron price prediction by the end of 2023, Tron might trade at its potential high of $0.14759. Also The Tron Grand Hackathon 2022 gears up for Season 3, this will have impact on Tron TRX prices. Understand in detail TRON Grand Hackathon 2022 Season 3 and the Hacker House Event here - https://coinpedia.org/price-prediction/trx-tron-price-prediction/Tron is a profitable investment, if considered for the long term and it addresses the huge gas fees issue of Ethereum. This has already been answered before. TRX cannot be the next Ethereum because it's heavily centralized, and there aren't many dApps built on it. Developers are only interested in big projects that would leave them with a lot of money in return (mainly BNB, Polygon, and ETH), so don't count on TRX going to the moon anytime soon. I think the cryptocurrency will be driven out of pure speculation just like it's the case with Dogecoin these days. There are a lot of trading pairs for TRX, so it's highly unlikely it'll go away anytime soon. I'd only use TRX for quick and cheap transfers, but not as a store of value. With so many competitors out there, replacing ETH becomes a distant dream. Who knows how far TRX will go in the future? Just my thoughts |
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Centralized exchanges have never been secure, not before, not now. The reason is very simple, if you store your coins on the CEC, then these coins are not actually yours, you just can see the balance that the exchange displays for you, but in fact you have no guarantees that you will be able to withdraw your coins at any time when you will need it. In addition, you may be required to pass verification, which is also not very good.
Exactly. But most people are blind enough to see this, since they're only thinking about what's more convenient for them. It's a lot easier to leave custody of your coins to a third party, than just doing it yourself. Using a centralized exchange is as simple as online banking. I'm afraid we're going to see additional disasters down the road, due to the inherent failures of centralized exchanges. This could only change if people began using decentralized exchanges more thoroughly (although they're still susceptible to hacks). If you really want to be "safe", then just trade a small amount of coins on a centralized exchange and leave the rest in your wallet. If the CEX gets hacked or runs away with the money, your losses would be at the minimum. Regulators are paying close attention to what's happening on the crypto industry, so it's likely there will be further scrutiny against CEXs to help keep investors' and/or traders' funds safe no matter what. At least, we have a choice. As long as decentralization wins, nothing else matters. Just my opinion |
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Is washing Bitcoin still a thing? I'm hearing it's impossible to disconnect you from the coins, and that depending on how much resources is put into it, the coins can always be traced back to you. Is this true?
I wouldn't say "impossible", since there's always a way to obfuscate your Bitcoin balance from third parties and even the government itself. It's just that it'll be much harder to "anonymize" your Bitcoins when there's KYC all over the place. Governments are ramping up their surveillance efforts, to help avoid people from getting access to Bitcoin without providing their personally-identifiable information. If you're keen on hiding your Bitcoins from plain sight, then just use a reputable mixer (preferably non-custodial) or simply convert your BTC to XMR in an instant exchange (eg: SimpleSwap, CoinPlaza, FixedFloat) for complete peace of mind. It's as simple as that. For the truly paranoid, using a VPN is a must to add an additional layer of privacy. You should always seek to change your methods, especially when governments are constantly adding new obstacles to help prevent you from "laundering" your coins. It's a good thing Bitcoin is decentralized, or it would've been compromised already. As long as you follow the necessary security precautions, you'll have nothing to worry about. Just my thoughts |
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The computing power required to support Bitcoin's underlying network requires a great deal of energy. This leads to criticism of Bitcoin's environmental footprint. I am against the constant portrayal of Bitcoin as the enemy while there are so many things that piss the world off about it. Yes, some energy problems will arise for bitcoin in the future but i think that these facilities that consume huge energy are negligible compared to companies. The amount of energy consumed by the Bitcoin network will increase over the years and the issue of finding solutions with renewable energy will accelerate. Bitcoin will contribute to the use and increase of renewable energy. Bitcoin miners are shifting to places where electricity is cheapest. Because renewable cheap energy power has not been provided yet. Bitcoin will help accelerate the renewable cheap energy network.
I hope miners turn themselves to alternative energy sources just to make Bitcoin more appealing to governments worldwide. I know banks and companies consume a greater amount of energy than the whole Bitcoin network, but governments don't want to admit that because they want to keep away as much people from Bitcoin as possible. Some cryptocurrencies switched to PoS in an effort to become "carbon-neutral", yet they've sacrificed the decentralization of their blockchain networks. PoW would be the only way to ensure decentralization and censorship-resistance because of the way it was designed. It seems to me that companies are still interested in keeping the mining industry alive, so it's likely PoW will become greener in the future. Who knows what would be of Bitcoin decades from now? Just my thoughts |
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I think that there is pattern for new coins, it's either they are the next hype or will be the next Ethereum killer.
When I was new this was already the trend in 2017, I can't remember how many projects claims to be the Ethereum killer but no one beats Ethereum and on the contrary, those projects suddenly die or maybe still in the cryptospace existing but nowhere near the success that they claim to be in the beginning.
Even BNB was touted to be the next Ethereum, yeah it enjoyed success because of CZ but still though in terms of market cap and volume, no altcoin can match ETH, maybe besides USDT but that is another story.
Solana was hyped once, but after the network outages and the FTX collapse, I don't think it will bring back the attention of mainstream investors ever again. Replacing Ethereum as the dominant platform for decentralized applications is very unlikely, especially when SOL is centralized. Basically, any ETH contender these days is centralized. Besides, ETH has first-mover advantage. In other words, it's impossible to take its place as the second-largest cryptocurrency by market cap. At least, we have many options to choose from. As long as decentralization prevails in the long run, nothing else matters. Just my opinion |
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Bitcoin is already seeing usage in some established online selling platforms and a couple micro businesses worldwide, so the idea of bitcoin becoming a world-currency, in its totality is actually true and is slowly happening as we speak. Furthermore, to compare bitcoin, a currency that hasn't even been in the market for more than 20 years, to a monetary system built upon thousands of years of commerce and economy, is a little unfair to the former right? I don't mean to sound like a visionary but I think we should give bitcoin credit where it is due. Altogether, bitcoin's price, stability, and everything else wouldn't mean when you compare it to established currency of the outside market, but intrinsically it has the potential to help in more ways than one.
Bitcoin may never become a world currency, but at least its usage is increasing by the day thanks to merchants and businesses opening their arms to it. We could say Bitcoin is the "Currency of the Internet" as many people can use it across borders without limitations or restrictions whatsoever. The pioneer cryptocurrency will become a viable alternative to Fiat for those who need it the most (mainly for privacy and financial freedom). I'd say a lot has been achieved within just 14 years of Bitcoin's inception. Now with the Lightning Network, I think Bitcoin is ready to be used at a larger scale worldwide. This means more people will join the revolution in the following years. You can bet market prices will rise after this happens. Who knows what the future holds for the cryptocurrency? Just my thoughts |
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Yes, governments do want to ban cash and Bitcoin.
That is why they create CBDC. CBDCs are inherently an element of a digital concentration camp.
In fact, the introduction of such a financial system would mean that money would be completely alienated from its owners. People will not be able to spend money uncontrollably, at their own discretion.
Also, people will not be able to save money, since the CBDC system does not involve placing money on deposits (with interest accruing over the time the funds are used).
Instead, the CBDC system will be programmed to get people to spend money as quickly as possible (buying government-authorized goods and services).
Couldn't agree more with you, mate. CBDCs will enable full-scale surveillance from both the central bank and the government itself. People won't be able to enjoy true financial freedom because hard cash (paper money) won't exist anymore. Every transaction will be recorded on a digital ledger the aforementioned entities own. That's where decentralized cryptocurrencies (Bitcoin, Ethereum) come in. I think the advent of CBDCs will lead towards greater adoption of decentralized financial systems. That's because not everyone will like the idea of having their entire financial life under the hands of the government. We're still a long road ahead before paper money is removed from circulation, so there's nothing to worry about. Just my opinion |
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CHIA mining can also be decentralized, because according to the miners there is now a huge payback period for equipment that exceeds the average life of hard drives. If this coin becomes popular, then it will be captured by centralized pools very quickly.
I just hope centralized pools don't take over the HDD mining industry, as that would make it much harder for the average Joe to mine at home using their old drives. Pools would effectively make solo mining pointless. We're going to have to see if developers are willing to make decentralized solutions such as P2Pool and Betterhash work on HDD-mineable coins like CHIA and BURST. But I doubt they will do anything about it, since HDD-mineable coins aren't that popular on the market. I've read something about "mineable tokens" on the ETH blockchain (eg: 0xBitcoin), so maybe we'll see HDD-mineable tokens built on ETH soon. At least, we aren't stuck with just GPU, ASIC, CPU, and FPGA mining. As long as there are many options to choose from, nothing else matters. Just my thoughts |
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