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981
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Economy / Economics / Re: Banks are a business, and you are the cash cow
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on: April 02, 2023, 06:01:16 PM
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Banks are still businesses that are aiming to generate profit, just like any other business. Whether we like it or not, they are necessary in our day and age, and they simply cannot be avoided forever. Most transactions are paid via card, while your monthly salary is also deposited into a bank account. You're forced to use them. I also dislike their business model, which involves paying fees for bank transfers, payments, currency exchange, debit or credit card subscriptions, and numerous other ways that the OP already mentioned, some of which I didn't even know existed.
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982
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Economy / Speculation / Re: Bitcoin price and my mindset
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on: April 02, 2023, 04:53:35 PM
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I have been thinking about the Bitcoin price alot recently. Just where we will be in the near future and the far out future. To decide if now I should sell some because I did read we will see price of Bitcoin fall down to 12k and lower.
It was 10 years ago on this date that price of Bitcoin was $100. Today price of 1 Bitcoin is $28,000 so that is 280 times more then it was 10 years ago. I think what does this mean price will be in 10 years from now 2033.
Just because you read it doesn't mean it's going to happen. Personally, I tend to ignore any so-called experts and predictions and proceed as I believe is best. Although the current financial state isn't the best, with banks failing and inflation and interest rates on the rise, Bitcoin is unlikely to crash that low. The market is volatile and unpredictable, but I find that claim quite excessive. We'll see how it progresses in the upcoming months, but I'm positive that Bitcoin won't go through such a severe crash. |
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983
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Economy / Trading Discussion / Re: Not about to give up hope.
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on: April 02, 2023, 04:02:45 PM
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I also lost a decent sum of money on Luna because I was staking UST when the whole incident occurred. Certainly, it wasn't worth giving up; I recouped my losses within a short time period. Despite the current pessimistic situation in the market, Bitcoin is still holding at $28,000, which I find quite amusing if you ask me. Giving up shouldn't be an option; unfortunately, I was too sensitive a couple of years ago, in 2018, and abandoned Bitcoin and the forum itself. The market had crashed, and instead of seeing it as an opportunity, I saw it as a failure, which has been my biggest mistake so far.
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984
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Bitcoin / Bitcoin Discussion / Re: Bitcoin usage in crime activity.
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on: April 02, 2023, 08:36:52 AM
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Cryptocurrencies are being used for criminal activities; that's true. A quick look at the darknet markets is enough, although they may also be used to launder money. However, fiat currencies have been used for ages for the same purposes, and laundering money can be conducted in various ways and probably more effectively than with cryptocurrencies. It's frustrating that a lot of news websites and officials portray them as an issue when they are the minority causing these issues. Criminality and corruption are widespread matters, and cryptocurrencies should be the last to blame.
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985
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Alternate cryptocurrencies / Altcoin Discussion / Re: Staking advice needed
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on: April 01, 2023, 08:39:10 PM
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I'll give everyone a tip about staking, it's better to have that less APY than to take risk and get those too much APY/APY that you're unsure if the project is gonna be successful.
Most projects that are still on the early stage will do that because it's part of being new and that's sort of enticement to the investors. Usually with high APYs, you'll get attracted to it but you'll be unsure if it will take long as the higher the APY, the lower number of investors involved.
As it's said in the real world, "the higher the risk, the higher the reward". It's best to look for PoS coins or stablecoins with low returns to help minimize risks of loss as much as possible. A high APY would make inflation worse, resulting in a decreased valuation of the crypto asset you're investing into. I'd prefer to stake in a decentralized manner, as only you control access to your funds. But not everyone finds decentralized staking attractive, especially when it has a steep learning curve. Centralized staking is much easier, and convenient. But the downside is that a third party controls the keys linked to your crypto funds, adding unnecessary risks in the long run. The market is full of PoS coins these days, so I'd suggest you give them a shot if you want to build a nice passive income system that will last for a very long time. Just my opinion  I agree about those type of coins to just stay with those stablecoins that have lower returns in interest rates. I thought before that having a good APY was for real but until I've understood how they works, I've come to realize that it's best to avoid those type of projects and its staking features. With stablecoin + little interest APY, it's truly a passive income but you also need to choose what stablecoin you'll have to choose because just as the typical cryptos, they're also volatile but just lesser. Stablecoin staking isn't as profitable as it used to be, especially when it's centralized. I remember starting with 10% APY on Binance, and it's now lower than 3-4% on a good day. Decentralized staking offers somewhat better options, but you shouldn't expect any miracles with the most reputable ones, USDT, USDC, and BUSD. You'll have to use one of them in combination with another, usually an algorithmic stablecoin such as TUSD, if I'm not mistaken. And there's still risk involved; we all saw what happened with UST, one of the largest stablecoins by market cap. |
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986
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Other / Meta / Re: A recap of Theymos April fool Jokes from 2015 till date
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on: April 01, 2023, 06:17:38 PM
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I find it extremely positive and appealing that Theymnos still strives to make the forum more entertaining after so many years in charge. I've been here since 2014, but I wasn't very active from the beginning, and I've only encountered the new rank requirements in 2018 and the NFTs in 2021. I was also one of the few who hadn't installed Flappy Bird back when it was introduced because the risk of smashing my phone was greater than the benefit it was offering. So far, the flappy bird captcha has been the most successful I've encountered.
P.S. I didn't manage to collect the 10 coins this time.
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987
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Other / Beginners & Help / Re: I Never belittle my SATs because a drop of water makes an ocean
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on: April 01, 2023, 02:03:01 PM
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I haven't understood if you're actually holding one Bitcoin as other posters mentioned, or if you're generally speaking about owning bitcoin; congratulations either way. As someone whose first interaction with cryptocurrencies and especially Bitcoin was faucets, in 2014, I fully comprehend your point. Satoshis are still fractions of Bitcoin, and a few years ago, these faucets were giving out a huge amount of them for free. Some of us, including myself, had these fractions of BTC until a few years ago, which were worth a decent amount of money. I'm still occasionally collecting Satoshi through Freebitcoin, just for the experience.
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988
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Bitcoin / Bitcoin Discussion / Re: Bitcoin Volatility
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on: April 01, 2023, 06:14:23 AM
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Bitcoin's volatility is one of its features that turns off a lot of people. When someone expresses interest in investing, the majority of financial counselors advise them to avoid doing this. Because it is one of the most volatile assets ever, I believe that is why the adage "invest only what you can afford to lose" exists.
Agreed, I saw people avoid bitcoin because of its volatility, but I love bitcoin for that. Volatility gives me more chances to buy bitcoin and store them for the future. I don't know which financial counselors advise people not to invest in bitcoin but I am sure that those so called gurus don't have any prior knowledge about finance. That's the point of Bitcoin's volatility. If its price doesn't change for a long time which its value remain the same, many people couldn't buy its price as it won't pump. Same thing to hodlers of bitcoin where they can't profit if it isn't volatile. It's volatility increases more the possibility of benefits especially if you have prior knowledge and experience about Bitcoin. If you don't have those knowledge and experience about how Bitcoin works, then it's volatility can be deadly for you and those losses that you get would benefit more to others. What's the point of Bitcoin, or any kind of investment, if the price remains stable? Investments are supposed to yield results based on price fluctuations; if Bitcoin was somehow, hypothetically speaking, a stable currency, it wouldn't be what it is today, and investors wouldn't be intrigued by it. Even fiat currencies are volatile; a simple check at the EUR/USD exchange rate in the past two years speaks for itself. We wouldn't hold Bitcoin if we weren't anticipating a price increase in the upcoming years either. |
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989
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Economy / Economics / Re: New currency from BRICS countries
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on: March 31, 2023, 07:13:50 PM
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This is the first time I'm reading about this, but even if it's true and they actually develop it, the least it would affect would be Bitcoin. We're talking about a new fiat currency; how would that affect cryptocurrencies? I highly doubt that BRICS is keen on targeting Bitcoin; that's the least of their worries. Their prime target would be the USA, the U.S. dollar, and the western world in general. There's not a single chance that it's aiming to manipulate Bitcoin, and honestly, supposing it's developed, it wouldn't do much harm to the U.S. dollar either.
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990
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Bitcoin / Bitcoin Discussion / Re: Bitcoin Volatility
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on: March 31, 2023, 05:55:26 PM
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Since when is Bitcoin's volatility a turn-off? It might be for some, but I honestly don't understand those few who are put off by it, since that's what enables you to multiply your money. And that applies to pretty much everything, be it stocks, gold, or other commodities; all of them are volatile, maybe not as much as Bitcoin, but still may go through great price fluctuations during a market crisis or an unfortunate event.
Personally, I find its volatility intriguing; certainly, it's not always positive, but nonetheless, it's what made Bitcoin what it is today. This isn't the first thread that mentions Bitcoin's volatility as a possible threat, which is frustrating.
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991
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Economy / Speculation / Re: What about the little increase?
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on: March 31, 2023, 04:22:40 PM
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Many people think that the current increase is a small increase, but I think that the increase that occurred is the beginning of a bull run, many people think that the price of $ 25k is difficult to achieve from the previous increase, and this month the price of $ 25k has been passed and even once almost reached $29k, and I think the increase that happened in March will be a big consideration for investors to buy more.
I don't think a real bull market will happen this year. Although bitcoin has risen 70% since the beginning of the year, it is not clear to me yet whether it will continue to rise. The fear and greed indicator shows that there is more greed in the market right now. Normally this would lead to a fall in price. But I hope like all of us that after consolidation the price will break through 30k. Neither do I; this is just a minor recovery, and we're far from entering the actual bull market, which I also doubt will happen this year due to the unstable financial situation. However, I do believe that we might see a relatively decent recovery throughout the year and even surpass $40.000. Despite the current depressed situation, Bitcoin's performance is pretty outstanding; I didn't expect any kind of recovery yet; I even broke even; and in theory, I'm in profit now, but I'm not planning to sell anytime soon. |
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992
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Economy / Economics / Re: Bitcoin Investment: Good Debts vs Bad Debts
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on: March 30, 2023, 05:51:38 PM
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If you owe money, you're in debt. It's as simple as that. However, I do understand your point of view that taking a loan to purchase a property is something that is likely to result in a positive outcome in the future, while going into debt in order to buy expensive furniture could be considered reckless by some and doesn't have any prospects of flourishing financially in a few years.
You should also take into account that not all purchases can be conducted without receiving a loan; buying a house with cash is impossible for the majority of the population nowadays, thus, a loan is required. Buying expensive items that you don't necessarily need usually doesn't work, and if you can't afford them, you shouldn't buy them.
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993
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Bitcoin / Bitcoin Discussion / Re: What have you got rid of to accumulate Bitcoin
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on: March 30, 2023, 03:43:11 PM
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So now there is a topic with a different direction? Someone on the forum buys yachts and bicycles and makes repairs with bitcoins, and someone else sells all this to buy it?
A little funny. I saw a story about selling motorcycles and my wife's jewelry, but I think that selling something from home is not quite the right thing to do.
Are people crazy about bitcoin? Why not just make regular investments without hurting yourself elsewhere? Maybe I'm very reprehensible, but I see some kind of passion in it when I hear that people take out loans, sell houses, and so on. Do not create an idol for yourself; in this case, it is greed for money, and life shows that such love always ends very badly.
I've read multiple stories on how far and beyond some people went to buy Bitcoin, although I wonder how many of these are actually true. To be honest, I believe that a large number of them are actually not sure how it exactly happened, but anyway, whatever floats their boat. Personally, I wouldn't resort to selling properties or assets in order to buy Bitcoin or any other coin. You shouldn't resort to extreme measures to conduct an investment; you'll have to set a budget you can afford, otherwise it could also be an irresponsible act. |
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994
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Alternate cryptocurrencies / Altcoin Discussion / Re: Unclaimed Terra Luna
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on: March 30, 2023, 01:37:43 PM
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If you did not receive the airdrop, try contacting the PancakeSwap support team to see if they have any information about your airdrop eligibility or if they can assist you in claiming your Terra.
If all else fails, you can try reaching out to the Terra community or team directly to see if they can assist you in claiming your airdrop.
I would, but as JeromeTash already mentioned, the issue probably is that I'm holding LUNC on the Binance smart chain and not their original blockchain, hence why I didn't receive the airdrop. I was just curious as to why I didn't receive it, but it's starting to make sense now. -snip-
No, Binance only now supports the original chain of Luna Classic. I am not seeing any other options like BEP20. They say that attempts to send using any other network might lead to loss of coins forever. Maybe you could try pancakeswap. Keep an eye on the contract address. If the value is so little, then I don't think it's worth it. Nope, the value is quite small, so it's not worth my time. It'd be easier and quicker to sell them for BNB on PancakeSwap and buy them again on Binance. Even attempting to move them to another network is not worth their value, if it's even possible, perhaps with a bridge, but I'd rather not bother. |
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995
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Economy / Economics / Re: What's is daily budgets or expenses as a bitcoiner?
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on: March 29, 2023, 05:58:08 PM
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Depends on the household, any unexpected expenses such as expiring car insurance, tax payments, maintenance, and so on. As a couple, on average we'd spend approximately €30–40 per supermarket trip, usually twice a week. Other expenses include fuel, approximately €30 per week depending on the occasion and the consumption, and going out once or twice a week. It's not easy to come up with an average, but generally, I'm avoiding going overboard, especially after the increasing inflation and the uncertainty it has caused.
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996
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Alternate cryptocurrencies / Altcoin Discussion / Re: Unclaimed Terra Luna
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on: March 29, 2023, 03:34:36 PM
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Perhaps it's something I also considered for myself; however, my LUNC purchase took place very close to my acquaintance's, and that's why it frustrated me. I've also read that CEXs conducted the airdrop distribution without any issues. I know for a fact that Terra is a dead coin and it's pointless, but it'd be another coin to add to my collection, which possibly could be worth some money in an upcoming bull run, to put to good use in another coin such as BNB or BTC.
But to be honest. I think the problem comes from you holding TerraLuna on the Binance Smart chain (BEP20 token) which is not the real Terra Luna. Terra Luna has its own blockchain. It's like holding wBTC (which is an ERC20 token and not the real Bitcoin) and when a snapshot is taken on the Bitcoin Blockchain, they won't recognize the wBTC you are holding. So the airdrop could have been for those only holding the real Terra luna That's a good point. I actually tried to move my LUNC from Metamask/BNB Chain to Binance only to be presented with a different blockchain. Is there a way to move them from Binance's Smart Chain to Binance, the exchange itself? It might be more affordable to sell those on Pancakeswap and buy them back on Binance, or even to not bother ever again, it's not worth it. As far as I know, the airdrop is still going on, and the last one will be released in June 2023, I got this information from Binance, and I think PancakeSwap has an announcement, but you missed it. You can wait until then or contact the PancakeSwap team directly for more details, I think you haven't completely lost it yet. https://www.binance.com/en/support/announcement/binance-completes-second-round-of-terra-luna-airdrop-distribution-to-terra-classic-lunc-and-terraclassicusd-ustc-holders-6c9ca64a94064973a273328edc99019aI'm not saying DEX is completely useless, but besides KYC, I haven't seen anything superior to CEX. Once invested in altcoins, in my opinion, use CEX for convenience, and OP's case is an example. Thanks for the information, I'll see if I manage to move them or buy them on Binance again, otherwise I'll simply not bother. Apart from KYC, I also agree that there isn't any significant advantage over CEXs. |
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997
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Bitcoin / Bitcoin Discussion / Re: Stories about lost Bitcoin
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on: March 26, 2023, 04:34:42 PM
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Somewhere around 2014, before I was active on this forum, I got scammed by a user in another forum trying to buy Bitcoin. I was under 18 back then and couldn't acquire cryptocurrencies through exchanges. It wasn't a significant amount, but it managed to piss me off. Another small amount of Bitcoin was lost on my Xapo wallet, which I couldn't regain access to, and their useless support basically claimed that I had no balance on my account even though I had emails providing the opposite.
Some other smaller amounts were also lost for years on Blockchain.com wallets but were fortunately recovered a few years ago.
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998
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Alternate cryptocurrencies / Altcoin Discussion / Re: Unclaimed Terra Luna
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on: March 26, 2023, 12:21:27 PM
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I think they distribute it via cex not on dex, but i don't know the exact information, i got my coins on binance, so i guess the one who got the airdrop is the one who bought luna on cex.
I have never invested in Luna, but I have followed the events since their demise, and I think what you say is true. Mostly, I only see centralized exchanges announcing airdrop distribution via CEX, I hardly see anything about DEX. This is the first time hearing about this incident, as most people used CEX to receive the airdrop. OP, but Lunc has become a dead coin with no future anyway, and as you said, it's just an insignificant amount. You can forget about them, and this also shows us that DEX cannot be more convenient than CEX, DEX has too many inadequacies, if you use Binance in this case, they will solve it for you quickly. I know the airdrop won't be of any significant value, not even in the slightest possibility of it marking a minor recovery during a bull market. It just came to mind because I recently had a discussion with someone who mentioned that he had received it on Binance. Otherwise, I had no clue that Terra was airdropped at some point. It's certainly not a big deal, but I thought I'd ask in case it was possible in any way; if there isn't, I wouldn't care at all. I've said it before, and I'm going to say it again: whether we like it or not, CEXs are certainly more convenient and user-friendly than DEXs. |
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999
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Bitcoin / Bitcoin Discussion / Re: Bitcoin Taught Me To Dare to Dream
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on: March 26, 2023, 09:13:22 AM
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Success in life is guaranteed if you keep on trying. In recent years, the competition is so hard that you can't even find a decent job. As you said, you have been in many fields of jobs and were quite successful. It is good to hear. I can imagine that you have gained a lot of experience. And in the end you found what you are really good at. Bitcoin is the symbol of freedom. And no wonder that you are able to dream big with it.
Correct approach to it could change one's life. In order to achieve that, you need dedication. You have done a great job. One thing I want to say is that, you went bankrupt before in business. So don't let that happen to you with Bitcoin too. Cheers.
You don't have to drop out of college to be occupied with Bitcoin; it doesn't necessarily have to be one of the two; you can do both at the same time. Success can never be guaranteed, sometimes even if you're a hard worker. Bitcoin or college won't provide you with a guarantee either, but they can come in handy in your lifetime. I became active in the cryptocurrency scene in college, and the combination of these two has been extremely beneficial but certainly not life-changing. I'm not dreaming nor aiming to become wealthy through Bitcoin, but at least currently, it is assisting me in my daily life by providing me with a decent side income and giving me hope for a better future. |
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1000
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Alternate cryptocurrencies / Altcoin Discussion / Re: Unclaimed Terra Luna
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on: March 25, 2023, 10:50:48 PM
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The timing could also be a factor
Perhaps you purchased it at the time when the snapshot was already taken? Could you confirm that it was done before the snapshot?
I am not sure about the Binance smart chain Terra Luna, but I did receive the airdrop of some purchased Luna that was in FTX back then.
Perhaps it's something I also considered for myself; however, my LUNC purchase took place very close to my acquaintance's, and that's why it frustrated me. I've also read that CEXs conducted the airdrop distribution without any issues. I know for a fact that Terra is a dead coin and it's pointless, but it'd be another coin to add to my collection, which possibly could be worth some money in an upcoming bull run, to put to good use in another coin such as BNB or BTC. |
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