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June 15, 2021, 11:46:35 PM *
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1  Bitcoin / Bitcoin Discussion / Re: If governments block Bitcoin, does Bitcoin have no value? on: Today at 08:16:16 AM
In Bitcoin-based transactions, about 76 billion US dollars of transactions are involved in illegal activities each year, accounting for about 46% of the total Bitcoin transactions. Almost a quarter of bitcoin users, and nearly half of bitcoin transactions, are illegal. Therefore, from a quantitative point of view, the use of Bitcoin is enough to become the target of attention of governments and international criminal police. If governments block Bitcoin, does Bitcoin have no value?
What I believe is, If you have these numbers or whoever is coming up with these numbers if actually are true, should also be able to identify whoever is involved in these illegal Bitcoin transactions. How do you know if or which Bitcoin transactions are Illegal if you don't know who is transacting the transaction? I believe all these are always in a bid to portray Bitcoin Bad and besides, Not all Governments will Block Bitcoin cos we are even beginning to see Bitcoin adoption By Countries.
2  Alternate cryptocurrencies / Altcoin Discussion / Re: No DOGE Allowed? Thai SEC Bans Meme, Fan and Exchange Tokens as Well as NFTs on: June 14, 2021, 03:57:55 AM
How huge is the Thai market? Will this have a big impact on meme tokens? Do they have huge influence?
I don't think they are looking at it from the general market view but more of trying to prevent their people from being scammed but it is ok with regards to meme and NFTs but I too as someone already said don't think exchange coins should be in that group. We all know all of the meme coins and NFTs have been overhyped and I too believe that there is a lot of shitcoins trading in most exchanges today that are worth banning.
3  Bitcoin / Bitcoin Discussion / Re: Will Bitcoin ever become a widely adopted global payment solution? on: June 14, 2021, 03:48:52 AM
I believe that this will happen even though it will definitely take some more time. When satoshi developed Bitcoin even the first adopters never really thought it will get to this level. As we know, there are many things in the works to make Bitcoin a better version of what it is now and even though Bitcoin has been spent and accepted by some stores/businesses around the world, we will see an even bigger adoption in the future where more and more countries turn to Bitcoin as a Legal tender.
4  Bitcoin / Bitcoin Discussion / Re: Bitcoin Goes Down From a Celebrity on: June 14, 2021, 03:30:03 AM
I believe that it is the notion that MOST Investors have coming into the cryptocurrency space that is really affecting the market, "The Get Rich Quick Syndrome" Most investors believe that they can get rich easily here and they tend to react to every single statement by anyone that is notable in society out of fear of not losing their investment. They never really have the belief in what they are investing in or sees crypto as an INVESTMENT but rather, what they could easily flip to make quick money. Until that mentality is changed, we will continue to see a huge market shift due to people's words.    
5  Alternate cryptocurrencies / Altcoin Discussion / Re: Are Airdrops and Bounties worth the work? on: June 13, 2021, 11:52:13 AM
Yes of course but you need to be smart on wvich ones you choose because of the many rug pulls and this year i was fortunate to participate on two bounties that were successfull and i got a considerate amount of money but the problem is that social media compaigns have too many participants and the pay is not much
I agree with you on the social media angle that is why I personally don't participate on most Social media Bounty other than Signature and like you, I have been fortunate which some Bounties in recent times. It is all about being lucky mostly with these bounty projects as some have been really disappointing and I won't hesitate to always mention (STC StudentCoin) which turned out to be a real SCAM. As for Airdrops, I don't really do that at all.
6  Alternate cryptocurrencies / Altcoin Discussion / Re: What goes up must come down on: June 13, 2021, 11:45:26 AM
There is too much leverage and too much potential profits in crypto space today which makes me feel like I'm reliving the 2017/2018 era once again, forget the big institutions investing money on crypto, those who bought at 4000$ per BTC are already millionaires/billionaires, you can't expect them not to take profit, be prepared

Indeed, many are billionaires today for those who buy Bitcoin at $4k. But what about those who bought Bitcoin today at $60k. Have they become beggars? One person gains through the process of another person's loss. Things like this will keep turning.
I don't believe so. This same issue could be said for those that bought Bitcoin back in 2017/18 for $20k, the only thing is that if you have faith in what you are doing or what you invested in and HODL out the storm we are currently facing, then the story will be different in the future for those that invested now at $60k when we eventually reach $100k  Wink
7  Bitcoin / Bitcoin Discussion / Re: I Hope Impoverished Nations Become A Bitcoin Network on: June 13, 2021, 10:09:22 AM
El Salvador uses the dollar as its main currency. They used to have their own coins but now they are no longer in circulation.

Venezuela is the country whose national currency has collapsed.

Using Bitcoin as a payment currency benefits them because it is
If their national currency was strong there would be no need for Bitcoin.

Nigeria is a developing country in Africa and its government is concerned that Bitcoin devalues its national currency. Bitcoin is good for the people but overall it is not good for their country when the crypto-related crime is hard to control.

It is interesting to see that you brought up crypto related crime when it came to Nigeria and I am guessing El Salvador is a developed country?

The problem with Nigeria are the continuous Bad Government the country has had. Up till now there are still repatriating loot from previous past government whether it is at the National or state level and non of this loots were taken through cryptocurrencies.

It is the same way you believe that Nigerian government think's Bitcoin will devalue it's national currency that's the same effect Bitcoin will have on the El Salvador currency even though you think they use the same US dollar but this has not helped them in anyway and all the devaluation the the Nigerian Naira has had is not from nothing related to cryptocurrencies.
The thing to understand here is, if the government of a country is willing to take care of their nation like what the El Salvador President as done now, they could be seeing good change to their economy and I hope it works out well for El Salvador.
8  Bitcoin / Bitcoin Discussion / Re: Using renewable resources in Bitcoin Mining on: June 13, 2021, 09:09:12 AM
Yes, El Salvador stating that it will use renewable sources of energy to mine Bitcoin is a good news. When the world is demonizing Bitcoin mining, thanks to Elon's statement that Bitcoin mining increases electricity consumption, El Salvador has shown quite how these sources of how geothermal energy can be used and excess of this energy can just be used for Bitcoin mining. Quite grateful to El Salvador to show the way.

Further, this would encourage different countries to come up with more avenues to tap into renewable sources of energy and thus increase sustainability.
True, this is a good move by the El Salvador President and will charge a new part for Bitcoin mining but the thing is, why hasn't this been thought about by all of the Bitcoin mining countries?
It is the necessity they say is the mother of all invention and has that pushed El Salvador this way because they saw no other way to their economic financial problems. We know there are a lot of different renewable energy sources that could be use for this purpose and I am personally glad that we will start to look at this option now.
9  Bitcoin / Bitcoin Discussion / Re: Why some millionaires hate Bitcoin? on: June 12, 2021, 06:27:02 AM
1. Warren Buffett doesn't understand technology
2. Donald Trump clearly said that Bitcoin is a risk to the USD
3. A lot of rich people(or people in general that aren't poor) think Bitcoin is unnecessary because they're privileged. They think Bitcoin is unnecessary because they're and their country is doing fine (at least as of now); completely ignoring other people living in communist and far more corrupt countries.

I agree with all you point especially number 3. I use to think to myself, why don't those rich guys that have the edge to buy up many Bitcoins when in a bear market and make even bigger profits in Bull usually don't do that? This point makes it more clear to me. Of cause , those that are still struggling and looking for an opportunity to make financial gains will definitely see Bitcoin as the best form of investment but the already rich wouldn't see this.
10  Bitcoin / Bitcoin Discussion / Re: Google has lifted its ban on crypto advertisements on: June 12, 2021, 05:58:17 AM
It was just a matter of time and they now understand that staying out of cryptocurrency is not the best option for them too in terms of Business. Whilst many other platforms may have been generating profits from allowing crypto ads, Google has finally realized that and going back on its stands. This is what happens when people/institutions don't think things through before taking action because some didn't accept it before.
It is a good move in the right direction for both.  
11  Alternate cryptocurrencies / Altcoin Discussion / Re: Not everyone can be lucky when it comes to shitcoins on: June 11, 2021, 08:52:30 AM
maybe for now they can't get much profit because there are too many shitcoins that have been created so they don't make investors interested anymore and of course the developers who make new shitcoins don't have a clear project goal so they are developers just want to make money by using fomo shitcoins.

 Grin Grin Grin Of cause, that's why they are called shitcoins. They never have any clear purpose to development or what they represent just in a bid to make money out of the investors that will want to invest and hoping that they make money from it someday if the projects get luckily hyped and pumped which some have actually made some profits from and many have got recked from.
12  Bitcoin / Bitcoin Discussion / Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 on: June 11, 2021, 08:41:59 AM
I'm pretty much sure that we have El Salvador representatives on the forum. I'm very much interested to read Salvadorians experience about it.
How it influenced their every day expenses. Was it convenient to pay in Bitcoin. Was is simply easy to switch from national currency to BTC. I'm interested in everything, because they are the first and they experience this adoption first.
I guess we will have time to find out all the details about this soonest. This is a big move for Bitcoin and of cause, we might see some other countries following this path even though the IMF is having its concerns about the move and why won't they? Bitcoin was created to take us out of this people's chokehold but they don't want that to happen.

 El Salvador’s President Nayib Bukele will be remembered in history for taking this brave move.
13  Bitcoin / Bitcoin Discussion / Re: I'll bet my BTC that Elon is going to announce Tesla mining this year. on: June 11, 2021, 08:23:54 AM
It's just too perfect for him not to.
Crypto is a multi-trillion dollar opportunity upending one of the planet's core industries - rooted in finance, tech, electricity and now has a huge environmental focus . Basically everything Elon does.
These tweets are him gearing up the shareholders.
To me, I believe even if he is not going to get into direct mining of Bitcoin he is definitely trying to sell something to miners since he is all about how Bitcoin mining is harming the environment. Maybe he will eventually offer to produce some sort of miners-powered batteries or some form of solar equipment for powering Bitcoin mining etc.
With most of the things I have read and seen about people and institutions that are connected to Elon and that are now also talking against Bitcoin, there is definitely a business thing for them in all this FUD.
14  Alternate cryptocurrencies / Altcoin Discussion / Re: Discipline hodling altcoins in the face of challenges. on: June 10, 2021, 10:51:10 AM
We all have a level of discipline when it comes to HODling but that discipline is tested by the the level of challenges we face. Everyone has challenges, true...but the challenges are different for everyone, some more peculiar to others.

 I had a conversation with a friend today who was excited that he was able to discipline himself, ignore the financial challenges he had and still was able to HODL  his many altcoins without selling even when he had some  pressing needs.

I agree that there will always be needs and challenges, but the big questions are?

Will you Judge someone who sold his altcoins in the face of a situation
which he did not see any way out of financially other than to liquidate some assets as not disciplined enough?

In the face of a life threatening situation that finance is the solution to, will you still hold on to your coins knowing that liquidating some or all will get you out of the situation? Or will you wait for help from above or somewhere else?

I don't really understand why some of us will take HODL as a do-or-die thing. To me, Cryptocurrency is an Investment for me so that I will be able to have or make some profits to resolve some issue that might arise along the way or I can HODL till when it is really convenient as in, when the market is going in to bear, I would sell to stable coins.
As I said, I don't understand why I can't or won't sell what I have to settle my affairs, I personally am in this position right now and have sold some of the Alts to solve some problem, what happens if I HODL and of the Life-threatening situation, what next?
15  Bitcoin / Bitcoin Discussion / Re: I Don't Want To Hear Anybody Crying When BTC Will Reach 1M Per Coin! on: June 10, 2021, 09:29:05 AM
You had your chance to buy at $1.
You had your chance to buy at $10.
You had your chance to buy at $100.
You had your chance to buy at $1,000.
You had your chance to buy at $10,000

You still have the chance to buy NOW.

If you've failed all these times you deserve staying poor. No offence, but I think you had all the chances in the world. We can't make you rich by force.
You know how it is, "No Guts No Glory” Some Humans are like that always playing the regret card in their life even when the option to their problem is placed in front of them. Too many doubt about things.
With everything that has been proven about Bitcoin, some will still not want to believe or invest and we can't change that. Some people are not meant to be rich through same process while some are not meant to be rich at all. 🤷

16  Bitcoin / Bitcoin Discussion / Re: China's official view of El Salvador on: June 10, 2021, 09:16:40 AM
It's not unreasonable because he is right that it cryptocurrencies is volatile and not everyone can keep up with the prices moving up and down, businesses could go bankrupt any time of the day when the prices started going down.
Even if this could be true, I believe just like every one in cryptocurrency space, some.of our assets are also held in stable coins which I would believe that most of this businesses will look into. Everyone understands the volatility in Bitcoin price and yet we have all this big corporation's in institutions that have invested heavily in Bitcoin. And we have also had about other businesses that have been accepting Bitcoin for payments long before now, I know about 10 of such businesses in my country.

The El Salvadors move is a big step for Bitcoin and I believe they will catch up with the workings.
17  Bitcoin / Bitcoin Discussion / Re: How much bitcoin was lost permanently? on: June 10, 2021, 09:05:47 AM
This is an unknown number. Someone may have forgotten their password or remembered their password again someday in the future. There is no data to consider.
True and it could very well be that where the password was stored have been located by the owner and now s/he can re-access their wallets again. I have read in this Forum where some people will say that that have never moved their bitcoin since they bought them, all this can also lead to miscalculation of what you intend to know. So it might not be that because it is up to 6 or more years that some Bitcoin wallet have been idle means that those Bitcoin have been lost.
18  Alternate cryptocurrencies / Altcoin Discussion / Re: Are Airdrops and Bounties worth the work? on: June 09, 2021, 11:10:33 AM
I would say it will at 50/50 because we cannot determine the success of such project in the market, some got value and pay hunters on the other hand it will become scam after promoted to for couple of weeks much worst if project succeed and the team refuse to pay their promoters. In my experiences, I earned some handsome rewards and it helped me a lot to earn extra income while at come especially in this pandemic times.
You have determined it base on the success rate but the main fact is that you are earning from airdrop and bounties without investing money in the project. You have to do some micro task and it doesn't take much time to complete those. So, both are worth. Occasionally the participants receive good amount from some airdrops and bounties. So there is nothing to complain as everything is for free.

Indirectly you do invest money in the project because you could have used the time to actually pursue a job that pays you money. But of course it is a safe alternative to get involved with cryptocurrencies. Airdrops aren't worth it I believe although it depends where you are from. A dollar in the US is not the same as a dollar in very poor countries.
You are right in that case but regardless of that, some of us like me still do not like to get involved in Airdrops. I would rather focus more on Bounties which I believe whatever earnings that come with it are worth the time that I have put in even though Bounty campaigns too, have their own shortfalls.   
19  Bitcoin / Bitcoin Discussion / Re: What effect does a growing number of altcoins have on Bitcoin on: June 09, 2021, 06:34:37 AM
Well I would say there is only a negligoble or no effect on bitcoin of these altcoins...specially those altcoins which dont have any potential but just a name...bitcoin is way too strong to be effected by all these coins
I agree with you. I believe that even the best Altcoin projects can not really slow down or affect Bitcoin in any negative way talk less of all the other ALTs that we know as OP mentioned don't really bring much if anything at all to the space other than enriching the Devs and collapsing in a crypto currency cycle.
On the other hand, I don't suppose exchanges can do much since if the projects Mets their requirements, they get listed and will continue to list invaluable ALTs as long as they are marking their own profits from that too. Remember that this is a business space.
20  Bitcoin / Bitcoin Discussion / Re: I don't care what Saylor or Musk say anymore, I'm becoming a BTC individualist! on: June 09, 2021, 06:05:08 AM
I don't care anymore what these guys have to say

you may not care but most people do, see:


after that the cryptocurrency market started to calm down and recover

I'm becoming a BTC individualist. Their words and actions will have zero effect on me.

but they have the power to manipulate the market, you will not be able to hide in a shell and think that it will not affect you

I only hope someday BTC will reach the $1xx,xxx zone so I can fulfill some pretty basic human dreams, other than that I know this is the rich man playground;

I sold things I had and bought bitcoin, then sell more things and bought bitcoin, I hope I can make big profits
Every comment there might not be for support of what Elon musk is doing. We all know that, that guy is trying too hard to make himself some sort of cryptocurrency influencer just because some tweets have made some impact on the market trend in the recent past but that like then OP mentioned, I too believe will fade away soon where his tweets will no longer have the kind of initial effect.
I believe there's a lot better way he would have done it and have the whole backing of the crypto community instead of how it went.

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