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So all you are saying that you stopped trading because trading wasn't for you. You couldn't make short term gains, so you ended up holding bitcoin to make long term gains. You could have explained it in more easier way instead of making your whole post confusing. Yes, holding for long term is less riskier and gives you almost guaranteed profit in the long run. Keep accumulating by investing as much as you can (money that you can afford to lose) and eventually you will have one whole bitcoin. Keep holding and you won't regret after few years.
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Ok yall, so my Metamask wallet was hacked back in December. I'd used it to buy and connect to some nodes. I now have someone trying to assist me with getting my nodes back and to do so, I have to re-add the Metamask extension to my browser. Nervously, I started the process of connecting it again and it is asking me to enter my seed recovery phrase, which to my understanding is the 12-word phrase I got when I created the wallet, which was done on the mobile app. I went through this same process and this is the exact same thing I did when I was hacked before. Why doesn't Metamask just have it where I can go on a site and enter the login credentials that were created when I created the mobile app? Needless to say, I am terrified of doing this because I keep hearing NEVER INPUT YOUR SEED PHRASE, and right after following these same steps before (setting up the Chrome extension) I got hacked. And the site I was on before and am on now is metamask.io.
I am reaching out to you all for help on what exactly I'm supposed to be doing. I only have a limited time to check on my nodes, but to do so I have to involve this wallet, unfortunately.
Because meta mask isn't a custodial wallet. It is a non custodial wallet where the keys are controlled by you. Hence you can't register an account with an email and password. All your wallet information are stored locally on your computer. Even the spending password you set is stored locally and for that instance of the wallet only. The 12 word phrase is the most important thing. You should back this up and store it safely. Anyone with that phrase will have full access to your wallet even if you have a spending password set on your wallet. If "that guy" you are talking about is someone random on the internet, he is here to scam you. |
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I am still undecided myself on this. On one hand I realize how much more efficient bitcoin / cryptocurrency and the blockchain are to fiat currency but on the other hand people are creatures of habit and many people simply don’t like the technology that bitcoin offers because it’s not what they are used to. I think if we do get to that point is going to take quite a few years. Older people are going to have to likely die off first before this ever comes to fruition.
Some of the chains aren't very efficient but it is more advantageous than the fiat currency. People don't need to like or understand the technology to use crypto currencies. All they need to know is how to send, receive and keep their wallet safe. Just like the way they need to learn how to send, receive and keep their paypal account safe. And those that are reluctant to use crypto currencies are the ones that read and follows those media that spreads FUDs about crypto currencies. I doubt bitcoin will replace fiat currency anytime soon. Maybe after few decades, but not now. |
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You can't ban something that is decentralized. Bitcoin has no central organization that the government can go and tell them to stop operating in their country. What they can do is impose laws that will make their citizens a criminal for using crypto currencies. But that still won't stop people from using crypto currencies. As long as people are using p2p transaction and no centralized financial institutions are involved, the government can't do shit to them. Look at those p2p torrenting where they pirate movies. Was the government able to stop p2p torrenting from hosting and downloading movies illegally? Nope.
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Yesterday while watching a show on TV, the presenter was saying that unlike usual fiat money, every single coin (could be BTC or ETH) can be identified, meaning that you can trace its movement on the chain. And I thought, this is not the initial idea. For some reason I thought that the BTC (or ETH, or any other coin) is fungible (this is a new term I learned recently, and not sure if I can use it in this context).
What is interesting here is that if every single coin can be unique and distinguishable from other coin, then you can trace its movement, and see who is selling, buying or holding it. Is this how it works?
It's because each of those coin have their own blockchain network. The BTC network is separate from the ETH network. Same for all other coins. And when you make a transaction, you can see the transaction on the blockchain (unless the transaction took place off chain/internally such as custodial wallets or exchange). Yes, you can see who selling, buying or holding, but you won't know who that person is unless you know who that address belongs to. |
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All those videos and posts are just clickbait titles to increase their views. When the price of bitcoin starts to increase, crypto currencies become a trending topic. Those "influencers" and video content creators take the opportunity to boost their views and channels. So they make those unrealistic prediction and videos because they know that people will click and watch those videos to remain hopeful. All those predictions are baseless and only for creating FOMO. Avoid them.
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I believe that fraudsters are still under the same roof in forums that have given us a lot of experience or lessons about crypto..
I ask is there no follow up with punishment like real life cheats?
Scams are not moderated on this forum. So no, I don't think they receive any kind of ban or anything. The only "punishment" they would receive is a negative trust rating from the community that can be seen in his/her profile. -snip-
and is there a way to work around this so that we are not deceived and lose money, especially the loss of our crypto assets.?
Don't be dumb and fall for those obvious scam. Do your own research before investing in anything. Use your brain and you will be fine. If something sounds too good to be true, then it... isn't. |
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If you are going promote an exchange, make a proper announcement thread and promote your exchange. Why would someone want to use a new unknown exchange while there are already other exchange where you can trade without KYC (but with some restriction which shouldn't be an issue unless your trading volume is very large). There is Kraken, huobi and kucoin that doesn't require any KYC unless you wish to deposit or sell for fiat currency.
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more confident with tokens generated from bounty than airdrop that are currently widely available on social media..!!
what do you think about the current airdrop?
is there any hope for the future?
and is anyone still looking for luck by joining the airdrop?
What potential airdrop tokens did you get?
They are just waste of time. Most of the bounty campaigns pay in their own tokens which has almost no value after they get unlocked. Most bounty requires users to send their information and go through the KYC process. Not worth risking your ID for few bucks only. You never know what they are going to do with your documents. Others deny paying their participants or changes the amount of what each user will receive at the very end (you will see multiple people accusing them of scamming). So you are better off doing something more productive than spending hours completing those bounty tasks. And yeah, you have to be very extremely lucky to get a "good airdrop". |
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You are comparing sports with gambling? How are they both even related? Gambling depends on pure luck. You have no control over the outcome. On other hand, football is not a game of chance, and depends on pure skill. More skilled teams have higher chance of winning the prize money. If you are talking about sports betting, then the title of your thread is misleading. If all sorts of gambling is banned in a country, then betting on sports games (soccer, football, NBA and all other sports) is also illegal. Those who do it, do it illegally.
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Decentralization is like giving criminals 200% freedom to do what they like and escape with it, this is like a lawless country where criminals can get away with crimes and on the other part Decentralisation is freedom for good people too, we want to be free from the government and powerful people but honestly law existed for a reason in the first place, for everyone complaining about the government just imagine if there is none
You know that people also launders money and commits crime using fiat currency right? In fact more crimes have been committed using fiat currency than bitcoin. Not only fiat, but also using physical goods and gift cards people commit various financial crimes. So centralized system also isn't perfect. Moreover, the centralized system can help criminals hide their crimes. Governments can misuse their funds and no one will ever know. On other hand, decentralized system having public ledger, it's almost impossible for them to misuse the funds because everyone can see where the funds are entering and leaving. |
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Because there are so many crypto signal providers now, it's hard for me to pick the right one. Many of these crypto trading signal providers have a good record of giving out good signals, but some are only in it for the money. This is what you need to know about these people. So, which is the best source of crypto trading signals, and which one should you use to make money?
Stop joining those "signal provider" groups. They just scam people. Never pay for joining those groups. They give random obvious bullshit signals. Most of the times they will only promote some shitcoins or shill for coins that they have invested in. They make people invest in those coins, pump the price and then the group leaders end up dumping all those shitcoins. Everyone except those involved in scamming people loses all their money. Learn to trade by yourself. Use your own knowledge when trading and stop looking for groups that will end up scamming you. |
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-snip-
People were willing to buy bitcoin at all time high prices and everyone was greedy. Now when bitcoin is half the ATH price, we see no buying pressure. It's strange that people are willing to get bitcoin at high prices but they don't buy it when bitcoin is available at fair cheap prices. This is strange bitcoin investor's psychology.
When they see the price increase rapidly, they FOMO. They think that the price will increase further more and they will be able to make a some quick profit from it. So they end up buying at a high price due to greed. They don't buy when the price is low due to FUD. When they see the price tanking down, they fear that the price will go even further down, hence stopping them from investing more in bitcoin. Most of them are the newbies who has no plan on holding the coins for long term. |
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Or maybe it is BitPay that failed to attract BTC users to use their payment gateway due to poor service or some other reason? People still use bitcoin. The fee isn't very high now. You can get your transaction confirmed within the next block even if you pay less than $1. if exchanges are charging 0.0005 bitcoin to a high amount over 0.0012 bitcoin which is $20 and above. They are misleading people to pay high fee when it is not.
People that are using bitcoin now are using exchanges and centralized wallets that charge high fee in a way it will also discourage some people to move the coin to a private key wallet.
I guess they only use a small portion of the fee as a network fee and keeps the rest as their own fee. But yeah, they should mention that whenever a user withdraws their fund. Separate network fee from their own fee so users can better understand how the fees work. And no one should be using an exchange or a centralized wallet to store their coins and make transactions. If they think a little, they will know that in the long run moving their funds to their own noncustodial wallet will save them more in fees. |
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For example, several people have no money, but want to play a few games of mahjong, and then make an appointment for a card of poker to represent one dollar. Poker then generates a dollar value. The value it carries at the moment is the mutual promise of several people, and its function is to calculate the quantity.
In today's digital age, the immutable properties of the Bitcoin database accurately carry the mutual promises of Bitcoin holders, which can quickly calculate the quantity and transfer each other.
As a final note, Bitcoin is hard to come by, and if 21 million people buy one each, they will never be able to buy it again.
For every people buying and holding a single bitcoin, the price will keep going up to a point that it will be almost impossible to buy a whole bitcoin with their current wealth. And with the price increasing, others that have bought will want to sell theirs to take their profit. So there will still be more bitcoins for people to buy. What would they do with the bitcoin if they never sell or trade it for goods? There would be no use holding it. |
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Another opportunity has created for new investors to have some good coins listed in their portfolio. Many who bought higher now leave at the mercy of the market but for those who were scared of how high the price flew within a short time now has a better chance of joining the market at a good market value.
My agitation now is no one should come back shouting about missed opportunity in the future I think since late last year the market has been a bit fair to new investors giving them opportunity to join the train. Everyone can be a millionaire in crypto attitude towards market volatility is what makes the clear difference
And the same people who buys now and watches the market take further dip will be back here saying crypto currencies are a scam made for making the rich people more rich. New investors shouldn't jump in when they see a dip. They should first learn how the market works. They should know that the market is very volatile and unpredictable. They should know all the risks associated with it. And the most important thing is that they should keep this in mind that they won't get rich over night. They should only invest what they can afford to lose (they don't lose anything as long as they don't sell) and hold for long term to make some good profit with least amount of risk. |
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I've also experienced something like your current situation, namely holding coins in the hope that one day they will get a profit. but all in vain. in my opinion, please trade your coins that still have a price, even if you get a little result it's okay, as long as you don't lose
If you were holding some shitcoins, then yeah, you were holding in vain because shitcoins are made for making quick profit and scamming people. They aren't good for holding long term. Look at all those shitcoins. None of them survive. They eventually die. But if you were holding some good coins like BTC or other top altcoins, then you probably sold due to FUD. You don't make any loss when you hold. You only make a loss when you sell below your buying price. And if you hold those coins for long term, you will make profit, if not in a year, maybe in 3 or 4 years. Look at the charts, zoom out and you will know what I am saying. |
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Bitcoin is a decentralized currency so definitely, it will never be regulated by the government and cannot be controlled or manipulated by any group or entity. But i believe all its crypto related activities and its centralized platforms and exchanges can be totally regulated by the government knowing they will take full control on it. So once crypto will be considered legal by the government, all its bitcoin transactions and other crypto related things will now be traced by government's banks and all its legal financial institutions.
You are contradicting yourself. You are saying bitcoin is decentralized and it can never be regulated by the government. But then you are saying bitcoin can be traced by government and regulated. Yes, bitcoin is decentralized but can be regulated. There are already some countries that have imposed strong policies and regulations on crypto currencies. Now whether people will abide by the regulation or not depends on them. As long as they don't have any interaction with fiat currencies, the government can't do anything because all those regulation involves fiat currencies. If you are making a p2p transaction with someone else using only bitcoin, the government won't know anything (unless your address is somehow associated with your identity or you have declared your assets officially). In other words you will be hiding your coins from the government and do everything illegally. |
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Getting bored with crypto gaming projects, I'd like to make money out of something fun to play but with crypto games it's really about the money you will make out of the games, I've not seen real good game Devs utilizing the power of blockchain or maybe it's my taste of games that im used to, I just still prefer spending more time on my Xbox than crypto games because it's more fun than crypto games
Blockchain based games are new. It's still on their infant stage. Give it few more years and more developers will join to utilize the power of blockchain and crypto currencies. It is still too early for AAA game developers to join the hype. But I am sure give it a year or two and if NFTs still be a think, most of those top game developers will integrate NFTs to their games. |
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Now that bear market is slowly taking over the market what can a newbie do to make money in a bear market? Staking is a bad idea in bear market I heard, even mining coins are not profitable in bear market too so what's the way forward?
Mining is expensive. So forget about that if you are a newbie since you will need to know a lot, buy equipment and spend time for maintenance. If you don't know what you are doing, you will probably end up spending more than you will be earning. Staking isn't a bad idea. Not sure what makes you say that. You hold during a bear market. So while holding you can stake so you earn passively. Or if there is a chance you might want to sell, then there are coins that you can stake without locking your coins. But the best thing to do during a bear market is to buy. Buy the dip and maximize your profit in the long run. |
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