81 - Abiky Thank you for hosting another free raffle, Krogoth! Happy Holidays!  |
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To those people that are not yet in crypto, FTX really has broken the image of crypto entirely. But to us, we all know that it's just FTX that messed up and the market is still going on stronger and better with all of these events.
As another part of history has been made, this should be the sign to everyone that in terms of trusting them, we shouldn't give our whole trust of handing them our money and keeping it to any of them.
That's certainly true, mate. FTX's downfall would certainly give a bad impression to the general public. Many people will believe crypto is a scam or a fad after this. I'd say history has repeated itself as something similar happened a few years ago when Mt. Gox collapsed. We're going to have to wait quite some time before confidence is restored into crypto/Blockchain tech. Instead of whining, people should take this opportunity to buy more crypto at hugely discounted prices. Once the bull market resurges, you'll be able to cash out big profits in return. Ultimately, the collapse of a major crypto exchange tells us to never trust third parties with our money. I hope this would mark the beginning of the rise of decentralized exchanges, as people take self-custody of their coins very seriously. Who knows if sometime in the future centralized exchanges are no longer relevant in the crypto/Blockchain space? Just my thoughts  |
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Elon has also been pretty vocal that he thinks we're headed into a dangerous recession. I think the yield curve would tend to agree with him. Crypto is going to have a difficult time over the next year as the Fed realizes that it's going to cause an economic collapse if it doesn't pivot and begin lowering rates. We've seen this all play out before. I think the Fed is hoping that inflation keeps assets high enough that we avoid cascading liquidations among the big firms, which would be the difference between now and 2008, but the Fed rarely ever gets it right. Cash will be King shortly I feel, but once this recession is digested I think we're all hoping for another bull run.
The FED will ultimately destroy the American economy if it keeps raising interest rates. Other countries will follow suit because they depend on the US Dollar as the reserve currency. Not only a deep recession affects the workforce, but also risk assets like stocks and crypto. I believe prices will continue to go downhill until central banks stop raising interest rates for some time. While I'm confident BTC's price will rise again, it's going to take a long time before we're able to see a positive return on our investments anytime soon. We should take this opportunity to buy more BTC at a cheap price before everything goes back up again. Who knows if making the right move today would lead you towards massive profits in the future? Just my opinion  |
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It is impossible to ditch fossil fuels for good because energy is not their own usage. From your mouse and keyboard that are made from oil products to fertilizers that use gas and gas products need fossil fuels.
As for nuclear energy, the problem is that the technology is in the hands of a small number of countries, and they have to build nuclear facilities for 90% of the world (they will not allow you to have the technology at any cost either). On top of that the nuclear fuel is also in the hands of a small number of countries (like Russia!) which means switching to nuclear energy comes with the same dependence as fossil fuels.
Well that sucks. If that is the case, governments would be "deadlocked" in their efforts to help restore the economy back to its former glory. Unless the war between Russia and Ukraine ends, I don't think things will improve anytime soon. Sooner or later, this will be all over as wars don't last forever. We're yet to see whenever the pandemic will disappear in the distant future or be with us forever. Everything will depend on governments' collaborative efforts to help put an end to all of this mess for good. I just hope world countries don't end up like Venezuela with a hyperinflation that makes it impossible for poor people to acquire life necessities. It will be complete chaos if this happens, greatly establishing a fine line between the wealthy and the poor. The future is widely uncertain right now, so we can only hope for the best. Just my thoughts |
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One (x1) LTC copper chip of the lowest number available, please. PM incoming shortly. Thanks, MrCryptHodl! |
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Technological mining does not cause that much harm to environment. It is not literally the same with mining concerning land and minerals. It only uses electicity and ofcourse equipments. If it is only electricity which is concerned, then governments could demand miners to use solar panels. Also, it is another thing if prohibition is directly towards usage of cryptocurrency. An individual can mine Bitcoin and be not allowed to use it for daily transactions, as simple as that. Governments are just wanting taxes and they just cannot do it with currencies other than taxation. Sk if it is mining alone, then I guess it would be a blurry reason for them to ban such activity, especially if it won't be announced and such.
Of course. Governments could force miners to rely on alternative energy sources to reduce carbon emissions as much as possible. But I see they're using the "high energy consumption" narrative as an excuse to get rid of Bitcoin for good. And what better way than banning PoW mining altogether? The EU already banned Bitcoin mining due to "environmental concerns", so what makes you think the US won't do the same as world countries try to fight climate change? The pressure is already mounting on Bitcoin, as many cryptocurrencies are switching to PoS without second thoughts. Imagine what would happen if Bitcoin were the only PoW cryptocurrency in the world. Most countries will ban it, greatly reducing worldwide adoption. No one knows what the future holds for the cryptocurrency so we can only hope for the best. Just my thoughts |
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I think Dogecoin became something other than normal coin. Its probably more recognized than Ethereum even. People buy and sell Dogecoin mainly for quick profits. So Elon Musk is not only reason, Doge is nice option for all kinds of speculators. Doge sort of has use too, many people prefer to use it for quick and cheap transactions. None of meme coins can claim Doge's place. Elon Musk speculation is just another reason to buy it.
Dogecoin is full of speculation. It really doesn't bring any real value/utility to the mainstream world. The only reason it's going up in price it's because of Elon Musk. But the effects won't last for long as people move on to the next big thing in crypto. Bitcoin is the only cryptocurrency you should care about, since it's the one that started this whole craze. It's decentralized unlike any other cryptocurrency in the world, with a very limited supply of 21m coins. You can see why the whole crypto market goes to the moon once Bitcoin starts "pumping" in price. I don't think any other cryptocurrency would be able to survive on its own without Bitcoin (this shows us BTC is the reserve cryptocurrency of the market). Remember, crypto is not about Elon Musk but rather a movement that's bound to change our world for the better (or at least, improve it). It may not replace Fiat, but it will certainly challenge it as an alternative monetary system anyone can join, anywhere in the world without limitations. The crypto market is extremely volatile at times, so I'd suggest you diversify your investment to reduce your losses as much as possible. Just my opinion |
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The future remains uncertain for privacy coins given the government's desire to crack down on the cryptocurrency sector. Additionally, their unique features make it easier for cyber criminals to potentially use them in malicious ways.
It's hard to deny that investing in crypto assets with diverse use cases can only be good for the crypto community as a whole. There are potential benefits not only to personal financial health through diversification and hedging, but also increased awareness and widespread adoption of decentralized systems.
Privacy coins have a chance to become the norm in the future if people start buying more privacy – cash. Why? Because what you do with your money isn't the government's business, it's getting you out of the system. Being your own bank means you earn your own interest on your money. We are entering a new era where people will stop caring about privacy, but I think it will be a while before we get there.
Governments will now have the perfect excuse to ban privacy coins and mixer protocols by saying they need to prevent scammers and/or other malicious actors from "harming" the industry. With the FTX collapse, I'd expect governments to become more aggressive against crypto/Blockchain tech. While I believe privacy coins and mixers will survive, not many people will use them due to fear of getting caught by the government (which could lead to fines, or even imprisonment). That's what we get when we try to bring Wall Street into the decentralized world of crypto. Things were much better for Bitcoin and crypto in the early days than what they are right now (there was less centralization and KYC wasn't mandatory across centralized exchanges). The more scandals occur on the crypto/Blockchain industry, the less freedom/privacy people will have in the future. The US government started with the Blender mixer, and now it sanctioned the Tornado.Cash mixer protocol. But I don't think it won't stop there as it will try to escalate towards privacy coins, and even decentralized exchanges. Unless people stand strong against governments' actions, we won't be able to achieve any progress on freedom/privacy anytime soon. Just my thoughts |
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Every coin that wants to survive the PoW bans will convert to PoS or a token. Bitcoin is leaderless, so becoming a token on ethereum or cardano will be it's only chance for survival. Bitcoin is in Danger of having DAR added to it's code, which would allow the world governments to censor all transactions they did not like, and allow coin seizure of bitcoins with a court order. So Censorship resistance and decentralized will be meaningless. https://bitcointalk.org/index.php?topic=5420975.0I don't think miners or the community as a whole will approve the transition from PoW to PoS within the BTC blockchain (even if developers decide to change the code someday). Such a move will destroy everything Bitcoin has a achieved so far (which is decentralization and censorship-resistance). What might happen is that Bitcoin will split into two currencies, leaving us with Bitcoin Core (PoW) and a PoS version of the Bitcoin blockchain. It'll be just like what happened with the block size debate where Bitcoin was split into both Bitcoin Core and Bitcoin Cash. Like it or not, the original chain will remain PoW even if the vast majority of crypto defect to PoS. Just because governments (especially those within the EU bloc) are pushing towards PoS, doesn't mean Bitcoin has to do it. I'd prefer Bitcoin to become the opposition than sacrificing its decentralization by satisfying governments' demands. Considering that the community won't allow BTC to turn to PoS, we should expect further opposition from the EU and other countries over time. I'm fine with that as long as Bitcoin remains an unstoppable cryptocurrency. Just my opinion |
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Cryptocurrency will of course have future bull markets. I have lost count of the amount of times people said bitcoin is dead. So many times, so many obituaries but we are still here churning out block after block after block.
It does take balls to HODL through long bear markets but you just need to be patient. A bit of patience is not much to ask for great profits that are not achievable in stocks & bank products.
Stay strong, HODL & you will be greatly awarded.
Exactly. Crypto always makes a comeback after it goes through a lot of pain. It really never dies thanks to the way it was designed (with decentralization in mind). As well as you do, I think there will be future bull markets as a result of renewed interest among investors and traders alike. In the meantime, I suggest you to buy and "hodl" prominent cryptocurrencies while market prices are still cheap. Who knows if doing the right thing today will lead you towards massive wealth in the future? As long as you don't invest more than what you can't afford to lose, you'll have nothing to worry about. Just my thoughts |
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If you read Bitcoin history you can see that everything that's happening now has already happened before.
Exchanges going out of business, people losing their money, mainstream media talking negatively about Bitcoin, etc.
Bitcoin price fluctuation in the short term based on multiple factors, but with a steady long term increase.
The fact that Bitcoin is still alive and well after more than a decade means that it's here to stay now.
Price will continue to oscillate as it usually does.
Exactly. If you've been into Bitcoin for quite some time, you'll notice its price can either go up or down in an instant. It's like a rollercoaster ride if you ask me. Noobs usually believe Bitcoin is meant to always go up, simply because they think it's a means to get rich quick. But that's not the way it works. Right now, there's a lot of negativism surrounding crypto/Blockchain tech because of the Terra/LUNA implosion and the collapse of a big crypto exchange (FTX). This means lower market prices for Bitcoin during the short term. Long-term speaking, prices should rise as BTC becomes scarcer with every block reward halving (sort of). If the global economy restores by the time 2024 arrives, then there would be nothing stopping BTC from reaching a new ATH in price. As I've said many times before, no one can predict the future. Just play it safe by never putting all of your life savings into Bitcoin, and you'll have nothing to worry about. Just my thoughts |
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Majority of cryptos' market value are falling at this period due to factors and if you guys are not new in here, you'd worry not much. Part of its volatility are periods of ups and seasons wherein prices are down or struggling to uprise, just as what we are seeing at this point. If you're quite tied at the middle, then holding would be the best thing to do and avoid selling ofcourse. If you are planning to invest on the other hand, this is a good point to buy but don't expect profit in an instant. At this moment, it is still not clear when will bullish trend enter the market. So invest only what you can afford losing(as being mentioned x10 daily in this forum LOL). However if you cannot endure market downs, then wait for the trend line to be clear before you enter.
Many people are thinking about the short term because they just want to get rich quick. But that's not the way it works. Crypto is all about the long term, and only those who're patient will be able to obtain great results in the future. I'm pretty sure ETH will reach a new ATH in price once the tide is over. Experts are predicting the market will turn bullish again when BTC's block reward halves by 2024. Of course, that would depend on the situation of the global economy. If the global economy worsens, don't expect ETH or any other cryptocurrency to rise in price anytime soon. I'd just take advantage of this opportunity since it only comes once in a lifetime. ETH is pretty cheap right now compared to its latest ATH, so why not buy and "hodl" some coins for the next bull market? Just my opinion |
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From what I can see the rising rates has maybe a very small effect. I see that the CPI is much lower than before however everything is still very expensive. Grocery prices still keep going higher and higher.
The nail on the coffin will be if the employment numbers show some slowdown meaning that unemployment has bottomed and will go up. Right now we got a bad labor shortage and it’s causing this inflation to worsen. This week we get the CPI numbers and we will see how they go.
Governments are going to need to ramp up production in order to curb down inflation for good. Raising interest rates is not enough to fix the economy, especially when the COVID-19 pandemic and the Russo-Ukraine war are disrupting the global supply chain. Countries are going to need to become self-sufficient by relying on alternative energy sources (nuclear energy?) and ditching oil for good. Once that happens, things could go back to normal. The EU already talked about solving the energy crisis caused by Russia, so it's likely inflation will ease in the region within the long term. I'm yet to see what the US will do with its dependence on oil by OPEC countries. If everyone worked together, there would be hopes of seeing a brighter future. Let's see if central banks' efforts to tackle inflation will materialize during the course of 2023. Just my thoughts |
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For now, what FTX has made in the public eye has damaged the image of cryptocurrency itself. Like it or not, we need to go through a quite negative feedback process, including the impact of prices on the market. It was unavoidable or indeed it was an event that gave executives a compelling reason to adopt a much stricter policy. As you said, they take the excuse for the safety of their investors' assets. But beyond that, FTX has undermined the values of decentralization and this fatal consequence will only filter who stays and who will leave crypto for a certain period of time.
The damage has already been done and there's nothing we can do about it. History is repeating itself with another collapse of a big crypto exchange (remember Mt. Gox?). Only those with weak hands will sell thinking it's the end of crypto. But strong hands (aka Diamond hands), will buy and "hodl" no matter what. May this be a lesson for anyone who trusted centralized exchanges with their hard-earned money. I think it's time for the majority of people to use decentralized exchanges for the good of crypto/Blockchain tech. If we continue to give power to centralized exchanges, we'd be making crypto no different than traditional banking. Unfortunately, people will continue to use CEXs because they prefer convenience above all else. It's likely we will see another big crypto exchange collapsing in the future (Binance?), leading us to another severe bear market. At least, we can say crypto won't be going anywhere. As long as it stays decentralized, there should be nothing to worry about. Just my opinion |
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Some say that the price of $ 15k-$ 16k is the lowest price for bitcoin at the moment but there is still a possibility that the price will drop to $ 10k-$ 13k. And as long as there is still negative news circulating and global conditions are still showing no progress, the crypto market can still get an impact and that will make the crypto market fall even deeper. But if some positive news shows market sentiment for other commodities starting to improve, maybe the crypto market will also increase. But I don't know, the current situation is very difficult to predict and this time, the bitcoin price has really gone wild and our analysis could be wrong in predicting.
Global conditions are worsening, so don't expect BTC to reach a new ATH in price anytime soon. I also think BTC will go much lower in price within the short term as there's a lot of negativism surrounding the whole crypto/Blockchain industry. I'd be surprised if it goes below $10k between the end of this year and the beginning of 2023. As I've said many times before, this is the perfect buying opportunity for you to grow your wealth in the long term. I don't think BTC will be worth less than $20k once it goes all the way to $100k. Of course, not everyone is capable of resisting the tide (especially when you need the money right away for necessities). Only those who have spare cash to pour into Bitcoin will make huge returns within the next bull market. History has shown us that Bitcoin goes back up in price after a severe market "bloodbath", so I'm confident BTC will go to the moon very soon. Who knows if the next halving (2024) will turn the market extremely bullish? Just my thoughts |
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What you suspect is true because no one can make predictions for the future, what we have is faith and historical evidence. It is often said that if you want to predict the future, you need to look at history because at some point everything will always repeat itself. I also hope history repeats itself but if it doesn't then I don't worry because just looking at the development of bitcoin we can rest assured that the future of bitcoin is very bright. It's only been 14 years but look, from something scorned and despised, bitcoin is now being accepted on a national level. That growth alone is enough to believe that its future is bright whether we have a halving event or not.
Bitcoin has always bounced back in price, even when it has gone through the worst. I'm pretty confident the same will happen again after the next block reward halving. Those who didn't buy BTC when it was trading below $20k, will regret themselves when BTC gets past $100k per coin. After the pioneer cryptocurrency reaches a new All-time-high in price, it's very unlikely it'll be worth less than $20k again. That's why it's important to take advantage of every dip in price to help secure your financial future. Who knows if buying BTC now will make you extremely wealthy in the long term? As long as you don't invest more than what you can't afford to lose, you'll have nothing to worry about. Just my thoughts |
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It doesn't even matter, does it? Let’s assume that he literally tweeted "bitcoin price will rise", does that really matter? For all intends and purposes he is not a financial hedge fund manager type of person or an executive in a wall street stock company. Obviously even if he was, that doesn't mean that he would know what bitcoin will do, it would be just a simple calculated guess.
However, this dude is owner of a car company, a space shuttle company and a social media company nowadays. Which means that we are talking about someone who we shouldn't listen to or care about. Price will go up when we say it does, and that means we will buy, that’s it, nothing more to it.
I don't think Elon Musk has any knowledge on crypto trading whatsoever. He's just playing with investors in order to get what he wants (which is profit). After all, anything he says (either good or bad) has a direct effect over crypto market prices. It's going to take quite some time before investors get tired of Elon Musk for good. In the meantime, we should expect BTC's market price (especially Dogecoin) to move according to Elon Musk's comments on social media. I'd have to say it's obvious this will be a long winter for Bitcoin and other cryptocurrencies. After what happened with the Terra/LUNA implosion and the FTX collapse, it's going to take quite some time before investors start pouring money into the market again. And that is to say that the global economy needs to recover first for us to see positive changes in market prices. The crypto space is widely unpredictable, so I'd suggest the OP to buy and "hodl" BTC without paying attention to market prices. Who knows if the next BTC halving would lead the market "all the way to Mars"? Just my opinion |
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They justify the reason for the ban that Bitcoin is a breeding land for crimes because it is decentralized and no government or any central bank can control or monitor it, but they want to enslave the people and do not want the financial transactions of individuals to get out of their control so that they are the only ones in control of it, and it is unfortunate that We find that there are many governments of many countries that have banned Bitcoin and declared war on it and against those who promote or deal with it, but why is Bitcoin not regulated and legalized without completely preventing and banning it? I see that Bitcoin is the future, and I look forward to seeing in the future many countries, such as El Salvador, approved Bitcoin and allowed consumers to use it in all their transactions alongside the US dollar.
Governments will always come up with an excuse to prevent as much people as possible from getting true financial freedom. After all, they don't want to lose control over people's lives. It'll be up to the individual himself to do his own research to determine if Bitcoin is really worth the time. I'm pretty sure most people will switch to Bitcoin when they discover its true benefits. The only problem is that Bitcoin's price is widely volatile, making it a terrible currency for day-to-day payments. But that shouldn't be an issue if you're one of those people who use Bitcoin regardless of its market price. 1 Bitcoin will always be equal to 1 Bitcoin, right? At least, we're heading into the right direction as some countries are beginning to adopt Bitcoin as legal tender. We now have El Salvador and the Central African Republic in the game, so it should only be a matter of time before other countries do the same. Of course, not every country in the world will adopt Bitcoin as their currency of choice. But many of them will accept it, leading us one step closer towards "hyperbitcoinization". Who knows if someday countries that banned Bitcoin (like China and Russia) will change their mind? If Bitcoin can be taxed, then I don't see why they shouldn't adopt it in the first place. No one knows the future, so we can only hope for the best. Just my thoughts |
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Will Google or Amazon abandon their obligations to partners in order to mine the CHIA coin?
If the majority of CHIA miners belong to Google or Amazon, then this will become known and investors will sell this coin, which will result in big losses for large companies.
Probably. But they could always mine CHIA in secret, leaving investors in the dark. These companies have a lot of money and power, so the sky is the limit for them. HDD mining isn't as popular as ASIC or GPU mining, so people wouldn't care if CHIA or any other HHD-mineable coin becomes extremely centralized in the future. At least, the idea is there. Making it a success is another story. Maybe someday we'd get to see an improved version of CHIA that would bring equality to all miners on the Blockchain? If this happens, then HDD mining would become truly decentralized. I was thinking something like a hybrid approach where the coin could be mined with HDDs, as well as, CPUs. It would be something similar to Digibyte with a multi-algorithm PoW consensus mechanism built onto the protocol. The sky is the limit, so anything's possible. Just my opinion |
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War has occurred for more than 9 months and the two countries claims to win, Russia is increasingly aggressive and resistance from Ukraine also continues, countless victims of life and treasure, and greater impact is to restore the condition of Ukraine, of course it takes a long time, and this be a warning to the world that war can occur at any time.
You've got that right. Wars are unpredictable. They can cause pain to both countries, especially in the economy and the number of lives lost. While the war is only between Russia and Ukraine, the world is suffering dearly because the two countries are one of the major exporters of goods and commodities. This causes severe economic pain just like it was the case during WWI and WWII. Unless the current war comes to an end, don't expect inflation to disappear anytime soon. Expect food, oil, and energy prices to continue soaring during the course of the conflict. It'll be up to both countries to come into a peace agreement, to end this nightmare for good. I hope the global economy recovers so we could live a normal life once again. No one knows what the future holds, so we can only hope for the best. Just my thoughts |
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