Well, these sites don't really look closely. They're focused only on their prices. And for as long as a coin or token is a cryptocurrency, they're lumped together. They don't care about the technology of each of these projects, or coins and tokens. And although there are already categories added, it seems they're adding more confusion instead of clarity. But I guess, this is just one perspective of the cryptocurrency market. Sites likes CMC and Coingecko, they're looking at the numbers only. So beyond that, these sites are not to be used as reference.
That's certainly true, mate. Sites like CoinMarketCap and CoinGecko only give investors insights of the price of a crypto asset, its market capitalization, among other things. But they're by no means an indicator of a coin's success. People need to do their own research to determine if the coin they're willing to invest into is really worth it. It's not about hype, but rather what real use cases a cryptocurrency project provides to the world. Constant development, and innovation are one of things you should look into when buying and holding a coin for the long term. Remember, "not all that glitters is Gold". Most people are usually following the money so they don't care if the coin they're investing into is a worthless pile of junk if it makes them money in the short term. Centralization is rampant these days because developers are focusing on scalability/performance instead of censorship-resistance and decentralization. We shouldn't worry about this as long as there's one cryptocurrency project that actually cares about Satoshi's principles. Just my opinion  |
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The rich have a lot of ways to escape inflation, which is what makes its effects so unfair as the ones that suffer the most are the middle class and the poor, the rich have most of their wealth on hard assets, they either have real estate, businesses, jewelry, art, gold and now even bitcoin, so the inflation of fiat currencies does not really affect them that much if at all, but for the rest of the population the effects are massive, which is why people which were middle class before the crisis end up becoming poor.
The more people become poor, the better for the government. You can't have power if you don't have money. Inflation is only designed to benefit the rich, as it usually harms people in the lower and middle classes. Bitcoin has been shown to maintain its value over time, so it's likely more people will join it to help combat inflation. While Bitcoin has experienced a massive dip in price, it's still the best-performing asset on Earth. Long-term speaking, Bitcoin should be able to stay afloat thanks to its limited supply of 21m coins. The deflationary mechanism of the cryptocurrency is what has made it a better alternative than Fiat. One way or another inflation will decline as central banks increase interest rates to strengthen national currencies. But inflation won't completely disappear because that's a unique property of Fiat. Who knows how long will it take for the global economy to be restored? Just my thoughts  |
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There's a new "meme" coin on the market called "Tamadoge". It had a pre-sale for quite some time which turned out to be a huge success. According to the website, the "meme" coin will have its own P2E (Play-to-Earn) game where you can earn TAMA on the ETH blockchain. Whenever the project will be a success or a failure in the long run, it's yet to be seen. While I don't think TAMA will become extremely-valuable in the future (it's a "meme" coin after all), it could certainly become a profitable venture for early investors within the short-term. What do you think about this coin? Is it a scam or is it legit? Do you think it's possible TAMA will reach $1 within the not-so-distant future? If not, why? Your input will be greatly appreciated. Thanks in advance. |
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It looks like Elon Musk is going to proceed with the $44B deal to buy Twitter as he has originally planned. The recent news of Elon Musk changing its mind again had a short pump in DOGE's price. If the deal goes through, that would mean Elon Musk will become the new owner of one of the world's most popular social media platforms. Knowing that the billionaire is a huge fan of Dogecoin, it's possible he will integrate the cryptocurrency into the platform for micropayments (micro-tipping). I'm wondering what effect will this have into DOGE's price if successfully implemented? Will DOGE be able to finally get past $1 per coin? Or will it never happen? Also, I fail to see how DOGE would be used massively on Twitter when the cryptocurrency doesn't have enough transaction capacity to serve millions of users around the world. There's no LN or on-chain scaling solution yet, so developers are going to have to work on something if they want DOGE to be widely adopted worldwide. What are your thoughts?  |
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Ever since the Biden administration proposed a regulatory framework for crypto/Blockchain tech, government agencies have been targeting platforms and users more aggressively. First it was the sanctioning of the Tornado.Cash mixer, and now the SEC wants to classify all PoS coins as securities. They seem to be more against Ethereum than Bitcoin or any other cryptocurrency for that matter. There was a case between the SEC and Ripple, but thankfully, it didn't turn out to be a huge win for the government agency. Compared to the previous administration, I think the current administration is taking crypto too seriously. Do you think crypto's ever-rising popularity will lead towards more regulation by the US? Or will things settle up a bit? Do you believe the US is being too hard on crypto? If not, which other country (or countries) is worst? Your input will be greatly appreciated. Thank you. |
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I'm expecting Ethereum will regain its all-time high in the year 2024 or the last quarter of the year 2023. Why? I am basing also it on Bitcoin too. Bitcoin block halving is expected to happen in 2024 which is a big event.
$4,000 is almost the all-time-high price of Bitcoin which is around $4,800. To be honest, this is really impossible this year for me.
You're forgetting that the crypto market reacts to either positive or negative events in the real world. Right now, the global economy is entering a deep recession. We can't expect ETH or any other cryptocurrency to reach a new ATH in price, when demand is extremely low these days. I'd expect ETH to hover between the $1.2k - $1.5k range until things settle up a bit. I'm certain the world's second-largest cryptocurrency by market cap will reach $4k in the future because no other platform can outmatch its level of decentralization and censorship-resistance (even though "The Merge" has made ETH less decentralized than it was before). The crypto market is widely unpredictable so either ETH goes up or goes all the way down in an instant. As long as you don't invest more money than what you can't afford to lose, there should be nothing to worry about. Just my thoughts |
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Privacy and anonymity are important. Whether bitcoin will fail without them, I don't know. At some point bitcoin reaches a point where one doesn't need to be exchanged for fiat, people just exchange in bitcoin which makes anonymity even more important. But also easier since you don't need a centralized exchange.
You can still achieve privacy/anonymity on Bitcoin if you carefully follow the necessary safety precautions. Using mixers, Tor, or even changing BTC addresses for every transaction, should be able to improve your privacy at every level. I'd steer clear from centralized exchanges because they force you to provide personally-identifiable information (KYC/AML). For true anonymity, one should always use a decentralized exchange or trade Bitcoins in-person (P2P). I wouldn't worry about governments increasing their regulatory efforts against Bitcoin as long as it remains decentralized. Just my opinion |
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So far they haven't sold any bitcoins, how can that be called a failure? Just like us, the bear market makes us reluctant holders but we have a strong belief that bitcoin will rise again in the future, and so are they. If you haven't sold yet, you won't lose, just hold on and wait until the bull season, I see that they are also implementing the same strategy as we are now. So it cannot be said that they have failed.
They were the first country to accept bitcoin as legal tender they were the pioneers so initial difficulty is inevitable as long as things are not too serious and solvable it is impossible to call is failure.
You can't lose if you don't sell. While El Salvador invested a huge amount of money into Bitcoin, it still has a lot of money in its reserves. If the government keeps on "hodling", it's possible El Salvador will turn into a developed country in the future. That is if President Bukele remains in power for quite a long time. If he is replaced, you can bet the "Bitcoin experiment" will ultimately fail. Let's hope that won't be the case so other countries can follow on El Salvador's footsteps. Who knows if we're closer to "hyperbitcoinization" than we've previously imagined? Just my thoughts |
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It's hard to say because the idea of holding Bitcoin was very different in the beginning.
Many wallets were lost because there were many issues with the early software, for example there was no seed phrase backup.
Also, many people sold their coin when it was a bit valuable.
But sure, if someone managed to mine early or simply buy later, and still has those coins, then yeah, they're absolutely rich right now. It's just not as obvious though.
No one in the early days thought Bitcoin would get this far. Some people became rich by "hodling" their Bitcoins until today, while others went broke in an instant. The crypto market is widely unpredictable anyways. But there are some things which tell you Bitcoin is bound to become more valuable as time goes by. One of them is Bitcoin's extremely-limited supply of 21m coins and ever-increasing demand. If predictions are true, Bitcoin could reach $1m in the future making you filthy rich. All it takes is for you to buy Bitcoin now while it's cheap, to sell it when it goes all the way to the moon. Who knows who the next Bitcoin millionaires will be? Just my opinion |
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They (US government) are trying to force these exchanges to break down their walls and comply with KYC/AML laws by requiring users to register with personal information to trade on the platform.
The goal is for the government to see all of these people's trades and balance sheets, as well as get information about what these people are doing with their money.
For example, when you deposit money in a bank account, you're giving up control of that money to the bank—you no longer own it.
With DeFi, you retain custody of your assets, which means they are yours to use as you see fit. So, I think DeFi technology is the future since it brings solutions to traditional financial problems.
Governments know they can't control crypto/Blockchain tech, so they're resorting to "regulating" crypto through centralized exchanges as they're usually on-off ramps between Fiat and the decentralized world of Blockchain. They're asking exchanges to give out customers' personally-identifiable information for their own benefit. That would give them some level of control over the industry as most coins circulate through centralized exchanges. Don't be surprised if they're able to successfully force KYC/AML on "De-Fi" platforms, especially when most of them are centralized. Anything that's hosted on a centralized server or has a middleman behind it, can be easily taken down by the government. Developers don't care about this since they're only after the money. Expect to see further scrutiny on this industry until crypto/Blockchain tech becomes no different than traditional banks. It seems to me that Bitcoin will remain the only truly decentralized blockchain in existence while the rest will go all the way down the drain. Just my thoughts |
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Processed Got it. Thank you!  |
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All of them should be accounted for the consequences that they have to face. AFAIK, the South Korean government is now hunting them and have released a ban for flights and as well as already cooperated with the Interpol.
It's just going to be a matter of time until Kwon will be arrested and surrender himself and he'll also point out where are his cohorts are hiding.
While for their projects, LUNC is the one that where exchanges are helping with while the new one, is likely being ignored.
Scammers should be held accountable for their own actions. And the Terra project's team is not exempt from being taken by the full force of the law. By arresting the persons involved in Terra Classic, it's likely investor confidence will be restored. It'll be up to the community to come up with new ideas to help attract as much capital into the project as possible. By itself, the project isn't a scam. But it's a gamble considering that there are still plenty of tokens in circulation. Fortunately, Binance has been contributing to the cause by constantly burning LUNC on chain. The more tokens are burned, the faster the price will be recovered. Who knows if someday LUNC gets past $1 per coin? Just my thoughts |
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NFT will never be over. Its market may drop in times like this bearish season but it won't last long. There are more metaverse projects starting to develop and in the next few years, this will become the next big thing in crypto. From Bitcoin to Bitcoin+altcoins then comes Bitcoin+altcoins+NFTs and then the next will be with metaverse. NFTs will become a huge part of these metaverses.
I am looking at some of the next good projects with potential and many of them are connected to NFTs and metaverse. Lifeform, for example, the creator of HALO NFTs worked with Binance Labs and will launch its product for public minting of NFTs that are applicable to the metaverse.
NFTs are still a thing, even though crypto market prices have been "dipping" like crazy. I'd say demand for NFTs has declined. But the hype is far from over. Major companies are getting into the game, so it would be best to buy and "hodl" prominent NFTs to increase your chances of becoming rich in the future. You're going to have to do your own research to determine which NFTs are suitable for your investment, though. I believe in-game items and digital real estate will be the ones that will gain the most value over time. The Metaverse is just the tip of the iceberg as the best is yet to come. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about. Just my opinion |
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They will in time or if not sooner judging by the rate at which Fiat is losing value. My local currency is so valueless against the usd that prices of commodities are high, many minimum income earners are struggling to buy consumables. The inflation rate as at August is 20.52% according to an online source, and the situation is not anywhere near better.
This dwindling situation of fiat will expose many locals to btc and how they can take advantage of it, even though the government will fight to discourage people from using btc as a better choice and alternative, the hard situation will make it happen regardless of what the government authorised.
Now that's a very high inflation rate. I don't know if that could be classified as "hyperinflation", but it's certainly not a good picture for the economy within your country/region. Central banks around the world are now trying to fix everything by raising interest rates. This will make local currencies stronger, but it will severely slow down the economy. Many experts are saying we're heading into a recession that's going to last for quite a long time. When inflation strikes, Bitcoin will be there to save the day. El Salvador and the Central African Republic already adopted BTC as legal tender, so it should only be a matter of time before other countries do the same. Who knows if governments peg the value of their currencies against Bitcoin? If that happens, then "hyperbitcoinization" (also known as the Bitcoin Standard) will be fully realized. By accumulating BTC, you will increase your chances of becoming rich in the future. Bitcoin has been known to reach a new All-time-high in price after every bear market, so I'd suggest you accumulate as much coins as you can before everything goes back up again. Just my thoughts |
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Do not assure that by 2023, the price of bitcoin will increase. I'm bullish as much as I would always think but that could make some newbies lean on those words and have their whole trust in it. Do not forget that bitcoin is volatile and those that are longing to invest should only invest with the amount that they can afford to lose. Although I believe what you do believe I always take note that it's not financial advise and everyone has their own decisions before investing in it because it's your money to play for. On my side, I'm believing that the reversal will be back after the halving which many of us know how impactful it is.
There are predictions that 2023 will lead us to a severe economic recession, so it's likely Bitcoin and other cryptocurrencies will slide further down the road until the dust settles. Maybe things will get brighter by 2024? What's important is that you buy as much Bitcoin as you can while it's still in "bearish mode". That is if you have money you can't afford to lose. I'm confident that once the global economy is restored, Bitcoin will bounce back to its original prices. Probably even higher than its ATH of over $68k per coin, due to the reduction in the block reward. Remember, bear markets are a great opportunity to strike it rich in the future. A little here and a little there would certainly make a difference in the long run. Who knows if we become the next Bitcoin millionaires? Just my opinion |
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You can still technically use Bitcoin without third party services. The only thing you would be required by law to do was to file taxes. If you're doing that, then there's no reason why you can't just use Bitcoin without any other third party.
You can use peer to peer exchanges. The only limitation would be when it comes to escrowing funds, usually that's required by a lot of users here. There's no easy way around that either. Although, at least with that you, and the other trading partner can decide what escrow among you, and you aren't forced into one. For example, using exchanges is usually limited to your geographical area to some extent.
While it's possible to avoid third-parties when using Bitcoin, you'll face a number of difficulties that will prevent you from getting the "full experience". For instance, decentralized exchanges don't have the same liquidity and ease of use as their centralized counterparts. There's also the issue of recovering your funds due to loss, hacks, or theft. Some centralized wallet providers have safeguards (eg: Coinbase) that would protect your Bitcoin against such undesired situations. That's because they're regulated and are insured in every way. By holding Bitcoins yourself, you'd be on your own if something undesired happens with your holdings. The good thing is that you will gain more privacy and have complete control of your funds. I guess you're going to have to evaluate the advantages/disadvantages between using Bitcoin with third-parties or all the other way around. With all of the tools we have at our disposal, I don't think privacy will cease to exist during our lifetimes. Just my thoughts |
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With the US government declaring that they have oversight over Ethereum, it definitely sets up for some crazy battles in the future. I can't imagine how all this defi stuff is going to be regulated. I didn't think it would make it this far to be honest. The next couple of years are going to be full of courts making decisions about people's finances on the other side of the globe. I'm sure a lot of effort will be done to track everyone though one way or another.
FED chairman Jerome Powell already said "De-Fi should be regulated", so expect further scrutiny into crypto/Blockchain tech from the US government. This shouldn't be surprising, especially when governments want to exercise control over people's lives. Since "De-Fi" is something out of their reach, expect attacks against the revolution will to continue. I'm afraid the US government will be successful in their task of "regulating" "De-Fi" simply because most blockchain platforms are centralized. Not only that, but most dApps also have their frontend interfaces hosted on centralized servers. We'll never achieve true censorship-resistance this way. How can Blockchain fulfil its purpose when most projects don't care about decentralization? As long as there's money involved, don't expect things to get better soon. Just my thoughts |
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I am fairly new to crypto and in July I took a gamble on terra luna classic when it was 0.00009 and it is now pumping. Can someone explain why this is and what the chances of it lasting are?
I have been following it more closely over the last week as it has began getting more and more attention and apparently a lot is happening over the next few weeks which is driving the price up currently but not sure what it all means?
How realistic are the chances of it reaching $0.01 or $0.10 and how long will this take? Months or years?
I am not selling just yet but this is seeing the best returns I have had in crypto so far so may take out my investment soon and let the profit ride.
LUNA Classic's pump is only attributed to the burning mechanism recently approved by the community. It seems that Binance has been the only exchange who burned most of LUNC's supply, causing a short pump in market prices. But I don't think that will ever lead LUNC towards $0.01 and above because the project already lost investor confidence. The community should re-brand the coin to help bring a fresh image to the masses. Only then, it may be possible to attract huge investors into the project. Not only Terra Classic would be needing investors, but also prominent developers willing to build dApps on its ecosystem. AFAIK, most developers moved from Terra to other chains after the coin went all the way downhill in an instant. Some competing projects offered grants to help attract developers into them. Considering that no progress has been made regarding the development of the Terra Classic project, I'm afraid the cryptocurrency will remain a speculative asset for a long time. At least, we have other coins to choose from. Just my opinion |
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Yes, we will get ETHW equivalent to the amount of Ethereum available in our wallet. Of course the ETHW developers have put out a lot of coins to share for free. ETHW was developed by lovers of the PoW version of Ethereum, because the basic Ethereum has changed to the PoS concept. In a short time ETHW wallet addresses have reached more than 254 million.
The question is: Will it be worth exposing your private key just to "redeem" the airdropped coins? The ETHW cryptocurrency has a very low market price, so it wouldn't be worth risking your ETH private key just to get some "free coins" on the other chain. This new fork was created so miners could fill their pockets with money. But it won't have a future, simply because it hasn't attracted mainstream developers' attention. I'd say ETC has a better chance for survival because of its proven track record of development and innovation (even though it doesn't have almost any dApps or tokens on it). People are free to choose which coin to mine, so as long as there's hashrate behind the ETHW chain, the project won't be going anywhere. Just my thoughts |
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You have made a very insightful opinion on a complex issue.
But a decentralized currency won't solve the issue which caused the excessive printing.
The feds don't like printing money either, even they don't want to do it. But there was no other way. A new currency, however it works, won't change the fundamentals of demand & supply. A decentralized currency may even be worse in such scenarios. Since there won't be any way to control the money supply(or a central authority to do so), the problem will be much bigger than what we have right now.
And inflation isn't always bad. It's a part of growth. It is a natural occurrence that happens when an economy is growing.
If the world ditches the Fiat standard over the Bitcoin standard, then it may be possible that decentralized cryptocurrencies will solve all of our problems. As it's said in the real world, "fix the money, fix the world". But governments won't allow crypto to take over, because they will lose control over people's lives. Central banks will continue to keep Fiat afloat by any means necessary. While inflation cannot be avoided, it can be controlled to a point where it doesn't do too much harm over the mainstream economy. It's normal for Fiat to experience some inflation since it was designed to be spent as a currency (not hoarded as a scarce asset/commodity like Gold or Bitcoin). Without inflation, Fiat currencies will become so strong that it would be too expensive to use them for daily payments. Inflation becomes much of a problem when too much money is being printed on an annual basis. With high inflation rates, prices for food, gas, energy, and other commodities will rise like there's no tomorrow. This will make poor people even poorer than before, especially when wages remain relatively static. Unless COVID-19 and the Russia-Ukraine war ends, don't expect to see any signs of improvement over inflation anytime soon. Just my opinion |
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