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2701  Economy / Economics / Re: Are CBDCs good for the economy? on: August 12, 2022, 06:11:52 PM
If it's not yet implemented then we cannot say for sure.
There are those who are still using cash for their privacy while when they start changing that to CBDCs you will be known wherever you pay. Even just for a pack of cigarette or just a candy bar. They can trace who did the payment and where it was done.
It will be long before this could become a norm to society. The availability for merchants to accept it just like cryptocurrencies should also be worked out.
And, I doubt it will be a peaceful walk because if the high number of people that are against it.
This is why I do not think that it would be regarding privacy. It would most likely be a revival to usdt or busd, because that way we would know that there is a guarantee behind it. People who would like to trust USA government more than they trust to tether or binance, then they would use these. If you still do not want to then you do not have to, there will be other options.

But, imagine having like 1 trillion dollar worth of CBDC in the market, that would be making everyone rich enough since most of that money will go through bitcoin eventually and making it grow huge. Maybe it will create some volatility issues in the long run as well but hopefully not.
2702  Economy / Speculation / Re: BTC Sentiment Poll for August on: August 12, 2022, 05:24:09 PM
Bitcoin finally stays at 24k today , this is the first increase in this level for several months now and maybe in the next coming hours Bitcoin will cross that 26-26k and i voted for YES.
It has been long that price stays lowering and just this August that we can see light again.
I am longing for at least 30k this August before the BER months starts the wave.
and finally in December at least 50k will be best for me and all of us.
That's how it will be. We are going to see it do well for a while and not do that well for a while and it will eventually stay above a level and stay there eventually. Today that number is 24k, tomorrow it will be 30k, then one day it will be 50k and eventually 100k. That's how bitcoin goes, there are days when we go down, and then there are days when we go up and stay there.

Thankfully it looks bullish right now and we stayed above 24k, but that doesn't change the fact that it will get a lot better and we shouldn't be happy about just the current situation, because this is very tiny compared to what we aim for bitcoin to be and it will be a lot bigger soon.
2703  Alternate cryptocurrencies / Altcoin Discussion / Re: how much would someone need in Crypto this bear run to become a millionaire? on: August 12, 2022, 04:04:41 PM
You really can't predict it out, we have a reason for diversification and making more ROI is one of the reasons, the other is to lower risk of losing everything, I have someone who invested 1000$ in Matic years ago in 2020 and he made 270,000$, find good projects and stick with them.
Diversification is not really a strategy to increase profits, diversifying your assets is done as a way to protect yourself form losing too much money in the case one of your assets went down hard.

If your goal is to make money then you need to do the opposite, which is to concentrate your capital in just a few assets and in that way increase your profits when those assets go up in value, however as you may guess this strategy entails a bigger risk and it is not appropriate for everyone.
I do agree that diversification is a great method to make sure you do not lose all of your money. But, when you do that in crypto, it is not the same because if X coin goes down, and the market goes down, then Y coin will go down too and you would be standing there with absolutely no protection.

Diversification should be about industry, methods and things. It means, if you want to invest into stocks, do not have more than 10% of your portfolio in just one industry, and do not have more than 5% on any stock. If you want to, you could diversify as gold, stocks, bonds, crypto that way you would have 25% in all of them. When market is bad like these days though, even that won't save you too much.
2704  Bitcoin / Bitcoin Discussion / Re: Bitcoin Education in the U.S. on: August 12, 2022, 02:56:21 PM
Good resources above. However, when it comes to anything regarding legal advice, I'd recommend either speaking to a professional or going directly to your governments website which will document that legalities of cryptocurrencies in your country. Simply because there's a varying level of laws depending on the country you're from. Obviously, being in the US simplifies that a little bit as they have extensive coverage of cryptocurrencies, but also because they dominate the news, so almost every search you do on Google will apply to you.

However, still states also differ I believe, and you should probably consider taking a look at your state government website also.
Yeah, if you are doing something that is not guaranteed, then it would be wise to ask to a lawyer about it directly. People here wouldn't be able to give you a legal advice because it is a very small chance that one of us would be from the same nation as you and also be a lawyer and also expert on crypto laws all at the same time. So find one, and ask any question you want. That way it would be a lot better for you.

It means that you would be able to get direct information on the latest laws, because one of the biggest jobs of a lawyer is to keep up with changing laws in your nation and they will know everything about crypto for sure.
2705  Economy / Trading Discussion / Re: trading more efficiently on: August 11, 2022, 09:45:23 PM
If you're concerned about looking at the chart everytime then you can go for dual monitor setup, no need to buy expensive monitor you can even use a cheap 18 inch monitor or use your TV as monitor with VGA or HDMI port so you will have no difficulties.
I would say that if you could even have like different monitors for it, that would be better. That way you could get like 3 monitors that are very cheap, and that would be for your trading computer, and if you are dealing with like playing a computer game then you will be dealing with something else. That's quite good and I agree that not many people consider that as an option but I do agree with them on the point that it would be something for professional traders.

Like for me, just one PC and one Monitor is enough because I do not trade that much and I am fine with the current situation, anything more than this doesn't sound like something I would need at all.
2706  Economy / Trading Discussion / Re: Trading then switching currencies on: August 11, 2022, 09:21:41 PM
Binance can be trusted, but it’s not good to hold your majority assets in other exchanges.
Coming back to the OP, it’s really great to know that you have took the basics more seriously and hence earned a great profits by carefully trading the coins.
I don’t prefer trading frequently by changing the alts, as these increases the risk of getting more losses. But yes with great risks comes great profits, so if you can handle the risks then yes you are on a right path.
That great risk is something not everyone can do because not everyone can understand it. As a person who studied trading a lot, I can easily say that I rarely ever get something done correctly, and that's why I do not want to make a big scene out of this at all, and can't say that this can't be done by others, but I can easily say that not "all" people will be able to do it.

This is why it's quite clear that we should be focusing a bit more towards the fact that crypto is easier to handle and I agree that it would be simpler to have a long term solution and then do something side to side with it. Like how you could have 100k invested into bitcoin for 10+ years, but also do a small trading with 5k along with that.
2707  Bitcoin / Bitcoin Discussion / Re: What your ideas about bitcoin adoption in the future? on: August 11, 2022, 05:10:10 PM
but for governments who are not pro with bitcoin, this will be a threat. The adoption of bitcoin will change all the systems they regulate and control completely. With the adoption of bitcoin they (the government) cannot exercise full control, this is the reason some governments are reluctant to adopt and only provide standard regulation for bitcoin.

The adoption of bitcoin will indeed have a positive impact, namely increasing the interest of crypto investors, but behind it will be a lot of work.
Currently bitcoin is only used as a commodity tool and is still side by side with Fiat.

only the country of el-salvador is able to fully adopt bitcoin and even continue to develop it to the point of wanting to build a Bitcoin City.
Those nations will have to learn what it means to be a crypto pro nations because they will be forced to follow the lead. If there are a lot of money to be made from taxing crypto people, any government who doesn't make it legal and taxed, will end up causing themselves heaps of headache.

Everyone who "discussed" about bitcoin ended up accepting it as legal for one simple reason; they could ask for a ton of taxes from people who trade it. If you made any profit at all, you would pay a tax on that profit, government gets a share on your spoils. This is why I think that there won't be any nation left that bans crypto, eventually they will all come around.
2708  Bitcoin / Bitcoin Discussion / Re: Bitcoin Not a Hedge Against Inflation?? on: August 11, 2022, 12:02:38 PM
Despite the volatility in the bitcoin market now, bitcoin is a good hedge against inflation, and now most of the traditional investments are broken, and people want to build wealth by owning something of value.
I do agree that the price may be low right now, but that doesn't change the fact that bitcoin will be going up against dollar a lot in the near future and when it does that it will be very profitable for all of us. That type of "imminent increase" always makes it feel like we are in a situation where it is definitely a profitable thing to hold.

Inflation may have beaten us during this past few months, but it's going to lose in the long run. Just to make it clear, if you have 100k, which worths about as much as a house, then you may want to buy a house with it, but in the next 5 years, bitcoin will be more valuable than that house, or anything else you could buy with it.
2709  Economy / Speculation / Re: Bitcoin Market Sentiment Infographic for August on: August 11, 2022, 11:24:54 AM
I didn't saw the price reached as high as $24.6k, but I do agree that it is "almost" $25k so I would say that we may have touch it already. However, it didn't last that long, being rejected again.

So we will have to see if we can retest $25k, and how are we going to react again. And obviously, if the trendline is broken, we might be or at least the bears will be in control again.
Now that price has tested $25K (ish) a few times already, I think it's due to break if tested again. Especially when price is forming higher lows and horizontal resistance, even if it's far from a guarantee. I guess the trend-line you are referring to is from the two previous lower highs, which currently puts it at $22.5K, though personally I think there is immediate support below this around $22K so I wouldn't consider it fatal if broken, as also only two points of contact for that trend-line so not convinced it's confirmed as support anyway. The fact that price continues to find support from $23K and the 200 WMA is a positive sign though.

Yesterday the price was looking a bit unreliable, but already today it's back above the 20 Day MA and looks comfortable consolidating between $23K and $23.5K which is good to see.
I do agree that before we break over prices, we test them a bit and that's how we make bull run. Even during the 68k period, the first time around we end up with a good amount of test, like first at 20k then end up with 30k then end up with 50k actually instead of 40k. That is why I agree that it's going to be similar this time around as well.

It means that we are going to see 25k having a bit of a rough patch for us, when that happens, we will set our eyes on the next target and then the target after that and it will keep going. Not because we can't break it, we just end up doing something like that because it's not always easy for us to leave it aside that quickly and go up, need to get some good rally behind us and that testing helps us.
2710  Economy / Speculation / Re: Buy coins at 17k weeks ago could be the best time to buy on: August 10, 2022, 09:00:16 PM
Today BTC moves are more bullish than ever, my chart says we going to 27-28k and many people are waiting for 10k BTC, I think charts don't lie like people do, if a bearish signal is coming your chart will tell you but sitting on your hands and hoping for a satisfying buy price can leave you with many regrets.
I don't really agree here with your statements that charts don't lie. If you follow crypto analysts or just financial analysts in general at social media then you will have everyday a new trend analysis in your feed which tells you that, "a breakup will happen in the next days" or "if the resistance at xx $ holds then it will only go up from that point on" or other statements. Sometimes those predictions become true but i would say that in most of the cases they turn out to be incorrect.
The problem with chart analysis is, that it has the requirement that in the future things are developing the same way like in the past and that is just not true in the real world in many cases.
Charts do notlie; people just do not understand the full meaning of the charts and that’s the problem. Normally charts show you what you can do with it, but they do not show you what you shouldn't be doing neither, it just shows you how you could end up with a good result in the long run if you just keep it up. I personally believe that charts are what the markets "should" do and not what it will do.

Just a great example would be a chart showing doge will go down and then Elon saying he loves doge and bought 10 million dollars more, price will go up right? Chart didn't lie there, chart showed you what it "should" do, but then something happened to change that.
2711  Alternate cryptocurrencies / Altcoin Discussion / Re: Which use case or utility will lead in 2024 or next bull market on: August 10, 2022, 08:11:06 PM
Web 3.0 will be my guess, even though we are not going to achieve the complete decentralized internet still it will plays the role and I feel metaverse still needs more time so among the listed 3.0 can be the one.

But I don't think this is not really going to help or push the cryptocurrency market towards the bullish trend, again bitcoin will outperform all these shit coins at the end of the hype.
I do agree that we will see web 3.0 becoming bigger and bigger. Looking at how impressively high it got already, with a new bull run we are going to see it grow even bigger with the projects that have been in development for so long.

I agree that the best thing to do would be making a profit out of this, and in order to do that there are two paths. Either you end up with a good web 3.0 you found and you will invest into it, or you are going to end up building one yourself that will change the whole idea, and I get that the second part is a bit difficult but there are people out there who are working on it so I wanted to put that out there, first is always easier of course.
2712  Bitcoin / Bitcoin Discussion / Re: [Discussion] Our Successor in Bitcoin Forum on: August 10, 2022, 06:31:15 PM
There are new members here all the time, it’s harder to have a high level membership due to merits but there are kids who are working towards building networks of people who would merit each other and grow, which is making them easier, still not as easy as back in the day when merit wasn't  a thing, you could have created an account and be a legendary one inside a month if you wanted to (would have been quite hard) because there wasn't even activity back then.

But I guarantee you, there will be kids who are under 20 years old right now, who would be 30+ years old in over a decade who do not have an idea about this place now, but will own a legendary account by that point.
2713  Bitcoin / Bitcoin Discussion / Re: Exchange will go out of business if every Bitcoin is hold in private wallet on: August 10, 2022, 05:45:49 PM
Bitcoin is already winning the war against the centralization of Bitcoin services, and a lot of Bitcoin holders are beginning to realize the safety of their Bitcoin when it is off the exchange and kept in a private wallet. You only send real Bitcoin when you do it on a p2p level and you don't own Bitcoin when your coins are stored on an exchange all you have is just promises and not Bitcoin if your Bitcoin is on the third party exchange.
Why even bother to post, what do you think you're sharing with the Bitcoin community that we don't already know? Maybe such "wisdom" might be reserved for the newbie section but you can already find dozens of similar recitations over the last few pages of threads in here. Maybe if you gave a few examples of recently failed crypto exchanges then it might emphasize the fact to people but frankly the average user of Bitcoin just wants simplicity and a reasonable level of security. Not everyone is technically literate and if we want Bitcoin to have the widest adoption possible we need to embrace the fact that many people want an easy to access online service similar to existing platforms like Paypal.
This is a forum and everyone has a right to share their thoughts, that’s why we are all here. It means, if 100 people say the same thing on a topic, the 101th could say the same thing showing support to the other 100 people as well. It may not be a new thing, but it does show the support for the old thing that has been posted already.

I am not saying that it is not annoying, you could find it annoying and I get that, there is no problem with that. However, people here do not have a duty to make sure that you are not annoyed by reading the same thing, it is not their job, they can write whatever they want as long as it is allowed by the forum rules.
2714  Economy / Economics / Re: Can the US become EU's oil supplier?? on: August 10, 2022, 03:42:24 PM
It is already a supplier as far as I know, the problem with US oil is that is not going to be as cheap as other sources that are more readily available and can be extracted at a cheaper cost. The fracking process requires continuous CAPEX investments that are much larger than those required for conventional oil. Despite the major "easy" fields have been used up, there is still much better quality and price outside US.
Being supplier and being "the" supplier is a big difference. If USA had enough oil than first order of business would be making sure that its own people would buy it cheap, but they can't make the companies sell it for cheap when the price is so high. Companies in oil business are making more profit, but the price of oil is high right now so they can't just say "stop with the increasing prices" because it is increasing already and they can't do anything about it.

But, if they could somehow manage to make it stop, then they would be able to cheapen it for the citizens, not Europe. So, they can't just cover all of the needs from EU, maybe Arabic countries with a bunch of oil could help EU instead.
2715  Economy / Economics / Re: Is the US economy in recession? on: August 09, 2022, 07:19:04 PM
America and any country are always threatened with inflation and recession, Fiat who has no basis or guarantee becomes a problem when the central bank cannot control its value, and this is what makes many experts find the best solution, namely with a decentralized system that locks stock so that inflation can be eliminated .
Governments do not have any other option, they are not bound by the ignoring capability of bitcoin, bitcoin may have caused a lot of people to lose a lot of money and there is nobody at the top to care, it's decentralized so when you lose a lot, then you lose a lot.

But in a government if your citizens are losing a lot, and they are in poverty and lost millions, you have to do something or you would not be elected again ever, you would be disgraced out of office and that is not something politicians would want. This is why I believe that they did this and they would have done it again if given chance because it allows them to get a good amount of "saving the face" chances when the elections come.
2716  Economy / Speculation / Re: I do believe that Bitcoin will be more scarce than gold on: August 09, 2022, 05:59:34 PM
Of course Bitcoin is scarcer than gold because Bitcoin has a fixed supply. There can only be 21 million Bitcoin ever. That won't change. As to gold, not only has humanity been mining gold for thousands of years already, it is still mining until today. And they always come up with additional supply. And not only that, there is also reason to believe that there is indeed abundant gold outside the earth that humans might be able to source in the years to come.
I think the supply of bitcoins on the exchanges now exceeds 21,000,000, especially when you consider the number of different surrogates in the form of wrapped bitcoins in other blockchains. It is the same situation with gold, which is very much only on paper, but absent in reality. When the bankers get involved, the situation is the same with any asset.
If you are talking about all the wrapped ones, maybe? At the end of the day, there are layers upon layers which makes it higher, but the reality is that if you have bitcoin and you can withdraw it and hold it yourself, then it's fine and it's yours and there is only 21 million of that, the original real bitcoin. Not like everyone will withdraw at the same time, but the same goes for banks as well.

If everyone decided to withdraw their money from all banks all over the world, first of all banking system will bankrupt and everything will be terrible, but even before that, people wouldn't be able to withdraw their money eventually and that’s always a big trouble for sure.
2717  Alternate cryptocurrencies / Altcoin Discussion / Re: Which one do you think its more healthy for a project on: August 09, 2022, 03:48:16 PM
Most especially new projects do you think its healthy to rush things up or take a lot of time and gradually release updates and follow roadmaps slowly? There are some complains that most projects aren't following the exact timing on their roadmap and some even takes this is Red Flag.
Rushing things up is never a good idea especially when we consider the nature of cryptocurrencies, a single mistake can be more than enough for hackers to take advantage of the situation and steal millions of dollars, and we have examples of this almost every week, so without a doubt it is better for the developers of new coins to take their time when developing their coins and even more importantly to not impose themselves milestones they will not be able to achieve, because when they fail to follow their roadmap and fall behind it their investors will begin to lose confidence in them.
That’s a problem that new projects have because they do not care about the aftermath of the release. They care about the situation they are in until they make their money, when the team gets their funding and then the project gets hacked or anything, all they think about is the fact that they still have the money for it and that’s fine.

As long as we have teams behind projects that only care about their own situation and that’s fine, we shouldn't really be shocked about it because they would of course think about their pocket first. But the ones that care about creating a new thing, a new innovation to blockchain tech? That’s what will go up a lot for sure, and that’s what we should invest into.
2718  Economy / Trading Discussion / Re: trading more efficiently on: August 09, 2022, 03:22:12 PM
When something happen all of a sudden which the market could be affected by the geopolitics conflict or FED announcement, they wouldn't also be ready since what they use in trading is basically just the trailing stop. Its not so bad though, ofc everyone wants to make money.

Trailing stops limits your profit actually compare to just waiting for the right time to sell when you see the market is is already in the ATH.  But then anyway, its up to them.
You could have a stop loss ready for those times if you want to get out before it happens. Like let's say you bought at 23k, and then you put a stop loss at 21k, that means if something major happens then you are going to sell and get out even if you are not in front of your PC, that's a great deal.

I do know that it may not work out well for everyone if the price hits there and then goes back up, but at the very least you are protecting yourself. This is what people should focus on, how to make a profit in the long run. I am not saying that it will be a difficult or impossible thing, but it could definitely help you if you know what you are doing.
2719  Bitcoin / Bitcoin Discussion / Re: What can we do against Blockchain fraudsters? on: August 08, 2022, 08:48:14 PM
Blockchain fraud is a very known issue for Blockchain applications like hacks, fraud and even criminal Darknet activities.
I want to ask for solutions how it  can be solved to catch more Blockchain fraudsters and prevent fraud.
People will be hacked less when we can catch more Blockchain fraudsters.
You cannot, you really can't have a fundamental way of doing this, it is going to just keep happening. What you can do however is to make sure that it is not getting attacked without cause, or without any defense there to help you out. It means that if you have some money in your wallet, and you do not want to get hacked, then do not let third party apps to take over your own control.

This is why I believe that we should be staying away from the fact that crypto is a risky thing, but many think that it is because of price volatility, there is also the fact that crypto is risky because it has the "not reversible" situation so you need to be very careful at all times.
2720  Bitcoin / Bitcoin Discussion / Re: Why are so many Derivative Exchanges are filling for Bankcruptcy ? on: August 08, 2022, 08:09:24 PM
Yeah, funny, isn't it? All these corporate types suits and ties, beating their chest about how they're paving the way for the future of money, decentralised finance, freedom and crypto, et cetera, when all they're really doing is adding new products to their old way of doing things. Under-collateralised gambles and networked guarantees, just piling on the dominoes atop the same old house of cards.

But as pointed out also, not everyone is guilty of bad risk management, it seems to be the newcomers (relative to being in business for decades) making those mistakes.
The amount of money to keep it operational is so high that, when you take this much risk and go wrong just even once, it puts you at the brink of bankruptcy. That's the problem with all those suit types, they do not realize that all those things they spend outside of keeping it running makes it higher cost and causes them to bankrupt quicker.

If everyone made it as little as possible and put it all back in and reinvest, then they would have kept it going further. Derivative is a highly sensitive exchange type and that means you would have good days and you would have bad days and on bad days you will have to have some money to back it up until its good days again.
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