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There are actually a few instances of stablecoins like USDC or USDT losing their peg, but their recovery was almost immediate. I don't think there's a huge risk involved with the two mentioned stablecoins, regardless of the market situation. The ones that can be affected are mostly algorithmic ones, backed by volatile funds. UST, for instance, was backed by Luna and Bitcoin reserves. Both are volatile assets, which is a recipe for disaster.
This doesn't mean that all algorithmic stablecoins are bad. There are actually decent ones like Frax or Magic Internet Money (MIM). However, compared to USDT and USDC, they are way more likely to encounter stability issues during bear markets. There are several examples of algorithmic stablecoins deviating from their $1 peg listed on CoinMarketCap as we speak. Some examples include Neutrino USD (USDN), USDD, which lost its peg a few weeks ago, or USDX.
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Honestly, legendary rank doesn't really mean that someone is smarter or has more knowledge or experience in crypto than someone who just joined this forum.
It just means that he joined the forum a little earlier and that's all. Had the merit system not been introduced by theymos, then I'm sure many users like this would be Legendary by now. 1. https://bitcointalk.org/index.php?action=profile;u=9790222. https://bitcointalk.org/index.php?action=profile;u=9891383. https://bitcointalk.org/index.php?action=profile;u=408030Check their profile and post history as 89%-93% of their activity is just social media reports. So really, Legendary rank was just a rank that was still easily attainable before the merit system was introduced, but after the merit system was introduced then I believe that users who reach Legendary rank are people with various knowledge. I never thought of it this way. I never browsed the bounty/airdrop section and was completely ignorant of the spam that's posted there. In reality, before the introduction of the merit system, you simply had to be active enough to earn potential activity points and post in order to rank up. While the required activity is still a lot, it's something completely doable for all these kinds of spammers. The altcoin section is filled with them due to bounty sections. I was unaware of what was going on there. Putting a stop to this spam was vital and the introduction of further requirements in order to rank up was necessary. Since I was here before its introduction, it's safe to claim that spam has been severely reduced nowadays. |
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I've had this happen to my Metamask wallet. I received a few thousand worthless coins/tokens that showed up when using services such as Yieldwatch and, of course, couldn't be sold despite showing having an X value due to them having zero liquidity. However, even after reading your article, I still don't quite understand how dust attacks are dangerous. Could you please elaborate? From what I've understood, it simply deanonymizes your address by creating multiple links towards it. Does it pose another risk? Addresses are not actually private, but if you don't publicly share them, like we do on our profiles, there's no way for them to be linked back to us. Correct me if I'm wrong. |
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Countdown to Full Member Rank
Number of Merit(s) left: 5
I snooped around your posts and saw a few worthwhile posts, so I sent you 5 merits in order to rank up to full member. Make sure you improve your grammar in a few posts and you'll be good to go. Use Quillbot before posting and you'll see a huge difference, especially if English is not your first language. I'm pretty proficient in English but still use it. |
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Ultegra134 -> Hero Member from Sr. Member during Merit System kick-off. It's great to be finally featured. Thank you for your contribution to the forum and for being a great merit source. It took me 1.5 years to rank up when I returned in 2021. Having abandoned the forum in 2018, and having zero obtained merit and a very limited time schedule, I didn't think I could possibly rank up in such a short time period. Everything is possible with a little patience and the willingness to create worthwhile content. |
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I'm buying weekly at the moment. Under $20K to me seems like an opportunity. I'm even considering buying back in with the BTC I sold at much higher levels. I don't want to because that's not what I cashed it out for, but if we take another leg down into the $13K range, it will be difficult for me to hold onto my cash.
I don't know what the ultimate bottom will be, but I do believe fairly strongly that the 2025 high is going to be significantly higher than the 2022 low. A guessing man might say as much as 20x higher.
Anything below $20.000 sounds like an opportunity, considering that its ATH was over $69.000. However, to answer OP's question, judging by the increasing inflation and the upcoming recession we're yet to fully experience, I would expect Bitcoin to crash even further in the upcoming months. If you intend to hold for the long term, it's simply a matter of increasing your yield in a few years. I expect the situation to improve after 2024, which is depressing when you think about it. It sounds so far from now, and no one knows what will have happened by then. All assets are going to face major losses due to the recession. Even the S&P 500 index has been severely affected. Until then, accumulating Bitcoin sounds like the wisest option. |
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Just a prediction? maybe article shared by OP is right. Lunc could touch $0.001 because right now the price is around $0.0003, it should be 1 year from now (maybe also not). But unfortunately, I'm not interested in assets that have failed before. I also can't believe it, it's better for me to buy a little meme coin to gamble rather than to buy this assets. Sorry I have to be honest!
It is impressive how low LUNA has gone in the minds of investors, I dislike shitcoins, and meme coins are without a doubt shitcoins no matter how their supporters may try to sell them to me, however if I was given the option of investing in LUNA or a meme coin and I did not had the chance to refuse then most likely I will choose the meme coin, as there is not point in investing in a coin that we know is a scam, it has failed already and that we know it will not be long before it completely collapses again. A coin always has two sides. On the one hand, it's a completely failed project, and investing in it is a gamble. Nothing has been improved, and it's bound to fail again. On the other hand, it may have been improved and managed to recover to a satisfactory degree at least. It is unlikely, but it may happen. My take on Luna sits somewhere in the middle. If I were to invest in Luna and a meme coin, I'd invest in Luna, not because I believe that much has changed but because there's still a community behind it hoping it'll recover. Personally, I believe that it will surpass $0.001 in the near future because the hype is still going strong. Will that be called a victory? Certainly not, but it may be for some of us that purchased it when it was worth absolutely zero. Does that make it a worthwhile investment opportunity? Definitely not. |
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I find it absolutely sickening that during all this outrage, which was sparked after the death of a 22-year old woman, there are still men supporting the wear of the hijab and being against women who want to wear whatever they want. I've seen videos of men harassing women for this reason. Personally, I'm an atheist and completely against any religion. To this day, I cannot understand why people blindly stick to religion even though it infringes on your freedom and rights. Christianity isn't much better, but Islam shows way worse values for women or people perceived as different. Not to mention that women were not permitted to obtain a driver's license in Saudi Arabia. I've seen a pattern in many Islamic countries encroaching on other people's freedoms, freedoms that the west takes for granted.
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Cryptocurrency success stories have become extremely popular in the past year or two, especially during the bull market where even random altcoins were pumped, resulting in people believing that they were a get-rich-quick scheme. A decent example is Dogecoin. Thanks to Elon Musk, it was excessively pumped, surpassing $0.50, which was outstanding for a meme coin. Personally, I know a few friends and acquaintances of mine who thought it was the deal of their lifetime to purchase Doge during its rally, and guess what, they were screwed over, losing almost all their capital.
As someone who has gone through multiple waves of bear markets, I now feel more prepared than ever. I suppose if I was more knowledgeable and more prepared, I wouldn't have abandoned Bitcoin twice, once in 2014 and once in 2018, and chances are that now I would be swimming in money. Unfortunately, in 2014, I had no idea how Bitcoin worked and was disappointed that I couldn't easily obtain it, whereas in 2018, I was heartbroken after its crash and left the scene until 2021.
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Certainly, this is a vital subject that should be taught in schools. Personally, I remember saving money from a very young age. I'm not sure how or by whom I was taught, but I'm pretty sure it had something to do with my parents' lack of wealth and their early adoption of the concept of not wasting money. Saving has definitely helped me a lot in life; even as a teenager, I always had money on hand. Later on, I could afford luxuries my peers at university couldn't, such as purchasing a car or a decent laptop. I don't identify as stingy by any means, but I'll try to avoid buying the most expensive stuff. For instance, I've bought a cheap refurbished laptop instead of a new one. It cost me more than half of what a new one would have while getting the job done.
Meanwhile, other coworkers my age struggled to get through the month because they were wasting all their money on random stuff, also involving heavy drinking, partying, and zero budgeting. It's surprising that a large number of similarly aged acquaintances and friends haven't fathomed the importance of saving and budgeting. I understand that times are difficult, but not being able to save a single euro by the end of the month is unacceptable. To this day, I have a decent sum of money saved, and at the same time, I have investments in cryptocurrencies, securing my financial freedom for the time being.
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I like the fact that it has remained intact since the beginning. Nothing has changed since I first joined in 2014, and even if you look way back, there were minimal changes. It's minimal, functional, and loads quickly. That's its beauty. It didn't have to modernize itself. I like that many people here get paid to participate. What other website can you make a post from the toilet and earn a few dollars? It's a shame that the quality of content isn't taken into account in these payout structures, but it's still a cool thing. Granted, it could be improved upon a great deal and benefit more users if it were managed by the forum, but it's still the reason a majority of posts are made here and that keeps things humming along as the information base continues to grow and gives users a chance to support projects and products here by purchasing them with funds from forum participation.
It's certainly the only forum I've seen featuring such an opportunity. However, posting quality has severely improved after the merit system was introduced. Those lacking merit couldn't rank up and were rarely accepted into decent campaigns. The altcoin discussion board is more prone to spam posts. My best guess is that it is due to the abundance of bounty campaigns being offered. I don't really know to what extent of a hysteria posters will be thrown into if all signature campaigns make it a criteria to qualify eligible posts. Those edited will be disqualified. I believe it will cause the type of panic introduction of the merit system caused.
As long as signature campaign managers are doing their due diligence before accepting someone onto their campaign, then it really isn't an issue. Ideally, they should already be hiring quality posters, and editing is something that we all do. Plus, I doubt many users abuse the ten minute period, since they would've just posted whatever they edited to in the first place. It's mainly used for correcting mistakes, since reading your post after the preview I find highlights more mistakes, not completely sure why that's the case, but I guess it's just sod's law. I recently created a thread abusing the edit function. As long as you do not post bursts of gibberish in an attempt to edit your posts later, you'll be fine. Myself included, have edited posts well after the 10 minute grace period, either because I found a grammar mistake which I hadn't seen beforehand, or because I forgot to add a tiny bit of information. I am not going to alter the whole meaning of the post, nor will I edit its content a whole day after its creation, but a few minutes after posting it is fine. |
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The yields on staking stablecoins usually tend to be really low. In Terra's case they had billions of dollars from the Luna Foundation to subsidize higher yields for a while until it collapsed. Some decentralized exchanges will incentivize you with their own native token to increase yields but those tokens usually dump hard and that extra APY will be reduced so much it is not worth it to stake stablecoins. If you only care about APY then centralized exchanges will be the better option in the long run.
You can't expect a vault or coin that is pegged at $1 to have excessive yields. There were some algorithmic stablecoins that offered great yields in the past but were quite risky, and I'm not talking about UST, but for BoltDollar (BTD), MonsterSlayerCoin (MSC), or even Iron.Finance. The first one made more than $1,000 in less than a month, while Iron made $200 in a month before getting hacked on Polygon Blockchain and being removed entirely. I currently have very limited time and haven't bothered moving my funds to Beefy yet, but I noticed that the safest options on Beefy have also decreased APY, averaging 8–10% at most, compared to 10–12% a week or so ago. It's still better than Binance's, because it's covering the whole amount. |
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This led me to believe that they had attained the highest rank and didn't require merit to move up. They can contribute whenever they want or not, and even provide detailed answers to questions that deserve to be answered.
OP, are you familiar with the history of the merit system, i.e., when it was implemented, what the forum was like beforehand, and why Theymos created it? It doesn't sound like it, but you'll probably get all the answers you need from the replies here and I suggest you read them all. My answer to the above is that there were tons of Legendary members prior to the merit system (before Jan. 2018), and they didn't have to earn merits to get there. Any member who was below that rank on the day Theymos came down from the mountain and bestowed upon the shitposters, account farmers, and all the assorted reprobates his tablets of merit requirement, they immediately had to earn merits in order to get there. If you were a Hero member the day before and were right about to rank up, you then had to earn 500 merits to get to Legendary. Obviously it was, and still is, much worse for newcomers to the forum. But to your second statement above, anyone can contribute whatever they want, whenever they want. That's not exclusive to Legendary members. Nobody needs to rank up. That's a requirement people put on themselves, usually because they want to maximize their campaign/bounty earnings. What I’m curious about is that only a few legendary guys are always active in the forum and providing lasting solutions to questions posed in the forum. Others that are active only post to complete their signature posts. Does that imply that after getting to legendary rank, making posts or comments to be merited is not necessary again?
Not sure what sections you frequent most, but there are plenty of Legendaries posting all the time. Sure, many of them who've been members for years are less active, but that's to be expected. People lose interest or have less time to participate in discussion forums all the time. And once more, it isn't necessary for anyone to post, earn merits, or anything else on bitcointalk. Members you see posting very rapidly or very prolifically are usually shitposters trying to hit their campaign's post quota for the week. Again, those are usually the members with the least to say. As others have already suggested, OP's statement isn't true. I've noticed that legendary members still acquire a ton of merit, despite not practically needing it in order to rank up, but because they're worthy members of this community. I think there's even a thread here showing how merit has been distributed. Although it may suck for newcomers, I didn't find it too hard to rank up. I was here before the introduction of the merit system and had managed to rank up to Sr Member. In approximately 2017 or 2018, the merit system was introduced. I a little after Bitcoin's crash, which took away all my interest in Bitcoin. I quit shortly after, not because of the merit system, but because I completely lost my faith in Bitcoin. Signature campaigns were much more popular back then and finding one wouldn't be that much of a hassle, but most of them were paying in terms of BTC and not USD. Thus, the rewards were minimal due to Bitcoin's value. At least in the campaigns I participated in. I returned in early 2021, during the Covid-19 quarantine and after Bitcoin had skyrocketed once again. I didn't have any merit except the 250 I was distributed due to being a Sr Member. Within approximately 1.5 years, I earned more than 250 merits without acknowledging too much of Bitcoin's technicalities in order to further assist the community. I didn't have too much available time between university and a full-time job, but I managed to rank up by trying to make worthwhile discussions and posts and being patient enough. |
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As easy as it may sound, I find it a cliché. Don't get me wrong, I support that you should do whatever pleases you despite your age, but usually, we don't have the courage nor the stamina to do it. Personally, I was interested in participating in another bachelor's program regarding environmental and climate change, a doctoral degree perhaps, or at least a second Master's degree. I don't want learning to stop. We should constantly acquire new knowledge. That's how I see things. However, after spending 5+2 years studying and working throughout most of my university years, I can't find the courage to continue. I'm not in the right mental state nor have I settled on what I want to do in the future.
I always had trouble making decisions. Taking a decision that concerns your future career path is extremely challenging and one that I'm currently incapable of making. I'd appreciate any advice, but personally, it looks hopeless to me.
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Too bad, some of the countries are reverting back to coal power, if I remember correctly there's a news about Germany slowly dismantling their nuclear powerplants and they are continuing their reliance on fossil fuels for electricity. Hopefully it's not a big impact but we know that some countries will likely follow them.
We also had to revert back to coal in Greece. Due to the energy crisis, coal factories that had closed down have now reopened. I'm all for renewable energy sources and green energy. However, I've found it pretty common (at least here) that green energy is disrupting the environment and we must find a way to overcome it. In particular, Greece is known for installing wind turbines in forests that were previously burned in wildfires (I hate to act like a conspiracy theorist, but in some cases, it has been proven that such plants were planned before wildfires occurred). On top of that, their installation requires heavy equipment and the creation of larger roads for transportation, while it's also claimed that it disrupts fauna and flora wild life. We live in the innovation world, we need to find a way to overcome such challenges, because green energy is the future, we can't rely on fossil fuels forever. We can't have green energy hurting the environment in the process, it's hypocritical. |
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While Bitcoin consumes a decent amount of energy (less than 1% of total energy consumption). While this number may sound insignificant, Bitcoin is claimed to consume as much electricity as the whole country of Brazil (the source of this claim hasn't been confirmed). Certainly, there are numerous other activities that consume much more energy and are more harmful to the environment, but that doesn't change Bitcoin's impact.
However, the world is slowly shifting to renewable green energy, and Bitcoin will eventually switch too. Not only will the environment benefit, but also the miners themselves, who'll be able to enjoy the benefits of lower electricity costs.
Scandinavian countries are great examples of countries depending on green energy. Perhaps it would be ideal if mining operations occurred in such countries in order to reduce Bitcoin's carbon footprint.
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~snipped~
If you feel Beefy is safe and better than binance then you can switch to Beefy. It is normal for APY to adapt to the situation. Do you want to be like UST?. APY is high but at some point it is not enough to pay interest causing mass collapse that cost us everything. I would still stay with binance, even though APY let me down a bit, but in return I feel safe in binance. It's perfectly understandable for APY to fluctuate. There was no guarantee that it would be stable forever. However, even locked-interest plans have been severely affected. They guaranteed a 13.3% APY a couple of months ago and were always unavailable and/or had a very limited available quota. Now it's down to 4.7%, while flexible savings is actually less than 5% APY for anything over $1,000, which is close to nothing. While I prefer Binance's safety, I'm going to try and diversify my money by starting to deposit some of the allocated funds on Beefy. The current APY is too insignificant to bother. |
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I'm officially pissed off right now. Yesterday I logged into Binance and noticed that I had received less interest than expected, but I was too sleepy to bother and didn't think much of it. I just went on savings and Binance has decreased the APY once again, but in a sneaky way that my sleepy brain didn't notice yesterday. 8% APY now applies only up to $1.000, instead of $2.000. My profits are currently cut right in half, and I'm not going to tolerate another reduction. I'd rather find a vault on Beefy.  |
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Honestly, I enjoy having my money on my personal computer without it being able to be traced back to me. It works as a savings account, your own personal bank, as you mentioned. It's such a shame that Lebanon is facing this. Your money is simply being held hostage. We had something similar in Greece a few years ago, with capital controls. You were unable to withdraw large amounts of money, and it was only possible to withdraw specific amounts every week, till the restrictions were lifted. They lasted over 2-3 years, if I remember correctly. However, as the following user suggested, it doesn't protect you from being mugged. Bitcoin doesn't remove the risks of you getting mugged. If anything, it's potentially worse with bitcoin/crypto. They just hit you with a wrench at your home until you give up access to your wallet. Hence why being private/secretive about your holdings is very important! https://cryptosec.info/wrench-attack/A general rule when it comes to moneymaking is to be silent about it. Either with Bitcoin, assets, or fiat currencies, it's best that people do not know that you're wealthy. I've heard quite a few instances here where people were mugged right after withdrawing from their bank accounts. If you are not cautious, you may be forced to give up your Bitcoin wallet as well. The same rule applies to everything. Let me remind you that in the past, they used to hide money inside mattresses. |
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This is actually a great topic. We had this specific discussion a few months ago during a course for my Master's degree. We reviewed the latest edition of "Health at a Glance," a book by the OECD, which offers an extensive collection of indicators for OECD members and major emerging economies' population health and health care system performance. These cover health status, health risk factors, availability and quality of care, and health resources. Below, you'll find how life expectancy significantly rose between 1970 and 2019 and how it suffered during the Covid-19 pandemic, with most surveyed countries facing reductions in just two years. The largest reductions in life expectancies can be found in the USA, Spain, Poland, Italy, and Lithuania, while Norway, Japan, Costa Rica, and Finland actually recorded a slight increase in life expectancy. This is actually a great scientific book, and I'd advise you to go through it. It provides a great deal of interesting indicators regarding health subjects.  |
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