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141  Economy / Exchanges / Re: storing BTC at exchange wallet long term on: February 07, 2021, 04:12:43 PM
I think this is best answered with a question; If you store your Bitcoin on an exchange or any online platform, and the exchange or online platform gets hacked, what will you do? We have seen a lot of exchanges that were hacked and assets worth millions of dollars stolen and that's it, so this means that, you shouldn't play with your Bitcoin and its security, that is to say, you need to adopt every possible means to ensure they are secured and keeping it on an exchange is far from it. Your Bitcoin needs to stay in your private wallet with a private key, this private key in question is what gives you the power to own and control your Bitcoin the way you want; anything short than keeping your Bitcoin in your wallet, means your Bitcoin could be at risk of theft. I don't know about those platforms mentioned like the Celsius etc, but keeping on an online platform and/or interest earning accounts is not a good idea and keeping on any exchange is not good as well.
142  Bitcoin / Bitcoin Discussion / Re: Visa - Did you all miss this? on: February 07, 2021, 03:55:10 PM
That's great and it is also surprising at the same time, I mean all these platform all of a sudden remembers Bitcoin and now understands that, in order to remain in business while accomodating many users, they need to adopt Bitcoin and/or adopt crypto banking; in as much as it is surprising, it is also a welcoming news to the crypto space. I am just imagining all the bad words said about Bitcoin years ago and here are top organizations or platforms finding it worthwhile, this goes a long way in proving that Bitcoin is the most valuable and have a very high potential to transform a lot of thing in the near future. Talking about digital gold, crypto assets like Bitcoin, Ethereum etc are not far from it, because they have passed through a lot of refinement before becoming what they are today and as gold, they will continue growing as well.
143  Bitcoin / Bitcoin Discussion / Re: Bitcoin purpose is to Take fiat in USDT on: February 07, 2021, 03:46:24 PM
The main purpose of Bitcoin is to create a peer-to-peer system of performing transactions such that both parties will be in control at all times without any manipulation as everything is transparent, and it is not to take fiat in USDT. Moreover, USDT Is not the only stablecoin out there but just the most prominent, and as the name goes stable coin, meaning its purpose is to reduce the volatility of the crypto space, therefore you can decide to hold your Bitcoin or you can decide to hold your USDT; this means both have different use cases and/or purposes. Also, you should know that, fiat is different from cryptocurrencies, because where you can control your cryptocurrencies, only the government have the power to control fiat, so therefore usage of crypto shouldn't be likened to usage of fiat, as both works differently but can serve same purpose. Lastly, Ethereum is just another crypto and where it is different from Bitcoin, its purpose is still different, therefore it is not a platform for digital dollar and so on.
144  Other / Beginners & Help / Re: Simplest Question: Where do I get bitcoins on: February 06, 2021, 06:51:53 PM
VERY CONFUSING.  I have $500US that I want to convert to bitcoin.  HOW?

There is nothing confusing about it but a straightforward process. First thing would be to know your country's perspective on crypto and the exchanges that are supported, let's assume it is Binance exchange. Assuming it is Binance exchange, you visit Binance exchange and create an account, since you want to purchase with fiat, it means you will have to get your account verified, that is, submitting some documents like your Identity Card, after the account is verified you can buy Bitcoin with your credit card. This is just an explanation with Binance exchange and same or almost same steps with other exchanges that are supported in your country.
Another option would be to find a Peer-to-peer platform where you can pay with cash and they transfer Bitcoin to your wallet, but in this case you need to be smart and careful so that you won't be scammed.
145  Alternate cryptocurrencies / Altcoin Discussion / Re: What do you think about exchanging your bitcoin for stablecoins? on: February 06, 2021, 09:25:18 AM
Do you recommend it? Why? Why not? Which stablecoin do you recommend on Binance?

Before exchanging your Bitcoin to stablecoins you need to have a good reason for doing such because on one hand, Bitcoin is a very valuable coin whose value has increased a lot and on the other hand, stablecoins are coins with a fixed price, that is, even if you sell your Bitcoin to any stablecoin of your choice, the value will remain the same till you sell it to another coin. So before selling your Bitcoin, you need to decide if it is short term, maybe to hedge against bear market, then it might be a good idea but you will have to follow the market to know when to sell back to Bitcoin. However, selling your Bitcoin to stablecoin and planning to hold for long term, might not really be a good idea because the value will not appreciate. Nevertheless, talking about recommended stablecoin on Binance, DAI might be a good option since it is decentralized and can't be frozen.
146  Bitcoin / Bitcoin Discussion / Re: Bitcoin of America Expands to 600+ ATMs on: February 06, 2021, 07:44:26 AM
For a country with strict standards, Bitcoin is still growing both in number of users and other aspects like this Bitcoin ATM. This is really a good news which means lot in the crypto space because it shows that in as much as the government will keep looking for ways to restrict people from using or investing in Bitcoin, that Bitcoin will keep growing while people will continue looking for ways to innovate on it, leverage its services and features and achieve whatever they want. Today it is more than 600 bitcoin ATM, and with Bitcoin growth last year through this year, who knows the number it will get to before the end of the year. This is really a good news and more of this will happen sooner than later.
147  Bitcoin / Bitcoin Discussion / Re: Can Bitcoin Crash? on: February 05, 2021, 08:13:44 PM
Good technological innovations do not crash they only keep growing amidst the challenges ahead, every technology didn't had it easy, they struggle at one point before breaking through, gained attention and bloom. Bitcoin started for a long time now, it didn't had it easy as well and if it didn't crash in the early stage but struggled to retain its value and grew to this stage then it can only get better and stronger. However, one shouldn't confuse crashing with bear market or market correction as bear market is one of the stages which will always be in the crypto space because we humans will always have different opinions and reasons while crashing in the sense of going out of existence is impossible not with what has been achieved already.
148  Bitcoin / Bitcoin Discussion / Re: Bitcoin runs off the fumes of fiat. on: February 05, 2021, 07:52:32 PM
First thing first, Bitcoin is not in a competition with fiat, but it is here to create a scenario where people will understand that they can really own and control their money without the government doing that for them or deciding a lot for them, and since it's inception that ideas has been working perfectly. Bitcoin is not in competition with fiat because fiat has the full backing and support of the government, and since the government finds it hard having total control of Bitcoin they will try their best not to give it the attention it needs, but however, sooner than later, most especially now Bitcoin has gotten a lot of attention both from platforms and institutional investors, the government will soon learn to accept and allow Bitcoin work closely with fiat but not to replace fiat.
149  Bitcoin / Bitcoin Discussion / Re: Basic questions on: February 05, 2021, 07:34:53 PM
How much do you know about Bitcoin and how to send it, although it is pretty easy to send but you also need to make sure you can differentiate Bitcoin address from other cryptocurrency addresses. Also, if you are sure you sent the Bitcoin to the correct address there is only one reason why he is yet to get it and that is, the transaction is yet to be confirmed. Most times, Bitcoin transactions can take time owing to congestion in network, but if you are sure you didn't customize the fee, then be rest assured it will get confirmed. In case of another time, first and foremost check the transaction hash or transactions ID to know if the transaction has been confirmed or not, this you can use as a proof to show you really sent the Bitcoin.
150  Bitcoin / Bitcoin Discussion / Re: bitcoin investment trust on: February 04, 2021, 06:15:00 PM
A Bitcoin investment trust which isn't that of the prominent Grayscale's will be highly questionable and might look like a scam if not a scam already. You should know that with Bitcoin current value, many scammers will continue looking for ways to defraud people and therefore you need to be extremely careful because all it takes is one mistake and everything is gone. Also, don't be deceived with whatever weekly returns they are offering as that is the prominent ways scammers use to attract people, promise them high returns since they know many people are greedy and won't fail to ignore mouthwatering rewards and at the long run, they end up being scammed. My own suggestion is for you to be careful, and if possible ignore it as it will not worth it.
151  Bitcoin / Bitcoin Discussion / Re: Employees can get salary in Bitcoin in Miami on: February 04, 2021, 05:59:49 PM
This is good and encouraging as it shows that Bitcoin is growing and breaking barriers, and for the Mayor of Miami to consider such means soon others will start asking questions and probably knowing more about Bitcoin because doing such also means more publicity for Bitcoin. Also, to make it more interesting, he didn't impose but rather gave them an option, an option that will make them to learn more about Bitcoin and even though they might not buy the idea at the onset, but gradually they will. Furthermore, this year is already looking good and we will succeed in seeing Bitcoin reach new heights because it obvious the world is waking up and seeing it neccessary to adopt Bitcoin; people who really understands good advancements like that of Bitcoin are paying attention and casting their support the best way they can, Mayor of Miami is a good example.
152  Bitcoin / Bitcoin Discussion / Re: Bitcoin in Bangladesh! on: February 04, 2021, 05:50:05 PM
There is no doubt that many countries are yet to accept Bitcoin and other cryptocurrencies, or some are not just ready for it and as such setting strict standards to restrict citizens from having anything to do with it, but they failed to understand that in as much as the internet is still here, there is no way to totally stop or restrict people from buying Bitcoin and other cryptocurrencies in Bangladesh. I believe, there are ways to go around it in such a way that you will be safe and  I believe they will have a community in this forum, therefore it would be better to visit and hear from others and also learn the way to buy and even sell to fiat if possible. Bitcoin has grown to a stage where it would be difficult to be ignored, sooner than later many countries will have no option than to accommodate it.
153  Bitcoin / Bitcoin Discussion / Re: I always return to Bitcoin on: February 03, 2021, 10:05:12 AM
This is a great and inspiring write up and shows the urge to know more, push on and not to back down. This case or aspect of regret is what has kept many people from moving forward,  I mean we are humans and it is very likely we will get skeptical and/or doubtful all the time in order to be safe, but when we miss opportunities because of what we failed to do, and later realizes how wonderful that particular thing is, I think it's better letting go of the past and moving forward to the future through doing the right thing. You knew about Bitcoin at an early stage but failed to do what is demanded of it then, doesn't mean you are stupid or you won't achieve whatever you want again, but with dedication you will, you only need to put in more effort and open up your mind to all opportunities the crypto space has to offer.
154  Bitcoin / Bitcoin Discussion / Re: Bitcoin Hit Record Number of 22.3 Million Active Wallets in January on: February 03, 2021, 09:49:15 AM
In as much as the news is to bring out more interesting facts about Bitcoin, and what it has achieved over the years and most especially this few months, but I still think that data or report on active wallet is not complete or wrong. I don't think there is a way to track the number  of wallets people uses to store their Bitcoin, I mean nowadays there are many wallets paper wallets, and so on or are they try to refer to addresses. Well, they did their best but they need to do more or be more explanatory, because the more Bitcoin grows, then the more people Invest in it, the more different wallets are created and there is every tendency that the wallet would be used just once. Talking about achievement, I would be reserved on the price or new ATH; that is a clear picture that Bitcoin is on the right path, it is just time and more adoption would take place.
155  Bitcoin / Bitcoin Discussion / Re: Trading bitcoin on: February 03, 2021, 09:31:42 AM
Trading is not so easy as many will make it look like, it demands a lot which ranges from time, to funds and then the urge to know more. There are people who trade full time and these types of trader actually understands what the market entails. So before thinking of trading, do well to acquire all the neccessary knowledge associated with it else one mistake will result to a lot of losses. Also, it is good to understand that risks exists in the market, and therefore you need to be prepared for the risk as well. Nevertheless, when trading is done appropriately, the trader is bound to make gains, so first thing first, gain the knowledge, secondly start with an affordable funds which you can grow from and be careful of the exchange you trade on.
156  Bitcoin / Bitcoin Discussion / Re: Why was Musk so late to the party? / or Publically support BTC on: February 02, 2021, 09:08:16 AM
Well it's obvious he was busy with other life endeavours and trying to achieve whatever he wants in life but being a man of innovation or a man who likes innovative ideas, he has later come to terms with Bitcoin and what it offers. The funny things is, this is the same Bitcoin that a lot people won't fail to ridicule or say bad things towards it, but here is someone who understands the essence of a good technology supporting it, in my own opinion, it doesn't really matter how long it took but what matters is coming to terms and agreeing with it. I believe gradually, even those who do not see anything good in Bitcoin will also come to agree with it, understand it and support the way they can.
157  Other / Beginners & Help / Re: Will Bitcoin play as gold? Shall I buy gold Or Bitcoin? on: February 02, 2021, 08:51:57 AM
I have bought some Bitcoin in a price $300 dollars each. I am glad I  bought 400 btc. Bitcoin will play gold. Shall I buy more Bitcoin or Gold?

Both are the best of two different worlds, that is, Bitcoin is the best coin in the crypto space and holds a very important stance in the future, on the other hand, Gold is very valuable till date and those who invests in it, do not joke with it, but however, I do not think Bitcoin will play Gold because Gold has a lot of institutional backings as well as the government. However, considering what you want and how your long term plan is, I think it would be wise to invest in both Bitcoin and Gold; with the growth of Bitcoin till date has shown that it can be used as a store of value, Gold on the other hand, is already regarded as such.
158  Bitcoin / Bitcoin Discussion / Re: If you buy 1 bitcoin and hold for years in your own offline wallet, taxes? on: February 02, 2021, 08:23:30 AM
This will highly depend on various factors, the first would be your country of residence and their stand on taxes as well as regarding cryptocurrencies, therefore advices and opinions will vary since everyone is from different countries, in this csse, involve the services of an expert to understand what it entails, you can also read on taxes of your country to know the right thing to do. Secondly, this will also depend on the time you cash out to fiat, the reason is, many people have been holding Bitcoin for years, might be through mining and so on, so which other way will they pay taxes or know the tax to pay if not when they cash out to fiat.
159  Bitcoin / Bitcoin Discussion / Re: Why its impossible to cancel unconfitmed transaction? on: February 01, 2021, 10:27:38 AM
Blockchain is said to be immutable thus any data cast on it, or any information, transactions sent and/or broadcasted on the blockchain can not be tampered with, that is to say, once a transaction is sent it can not be cancelled and thus the only solution would be to wait till it is confirmed. Also, what causes longer transactions confirmation is low fee, which is why it is good not to set it low but in a case where it is urgent,I think I have come across how to accelerate the transaction but kind of forgotten about it. Nevertheless, another time, don't set low transaction fee, just allow everything to play out and also, I think every wallet developer will add features which they believe will help, so if they are set to add such features then it means they might not have the neccessary expertise or not ready for it.
160  Alternate cryptocurrencies / Altcoin Discussion / Re: Why would you use USDCoin on coinbase instead of USDollar when selling BTCtoUSD on: February 01, 2021, 09:31:20 AM
USDC or USDCoin is a stablecoin and since it has been around for a long time, it's now being supported by many exchanges, so the benefit of using USDC over USDollar or selling BTC to USDC instead of USDollar is that, you can easily transfer it (USDC) to other exchanges as you want. Also, using USDC doesn't exempt you from paying the fees stipulated by the exchange as the case maybe but if it's USDT which is already supported by many chains or blockchains, then selling BTC  to USDT and sending USDT through Tron (TRC-20) blockchain, you will only pay very little for fee, which is of course better than doing so with USDC. Also, just like USDC is supported by many exchanges, same is the case with USDT.
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