That's a large amount of coins but they are not holding it as an investment. They'd probably auction it off and pay the affected people in USD. This if done at once could even flood the market with tradeable coins.
The government of US won't probably confiscate your coins unless you commit a crime like running an online illegal marketplace like silkroad. But that can't be said true for governments like CCP.
I am not sure about that. They seem to be holding onto it for a mighty long time. This is worrisome. This whole thing about the dark web and the black markets is just crazy and blown overboard. They talk about it like everyone there is some weirdo. Some of us believe in freedom some of us otal freedom. An open and decentralized market sounds like freedom to me. It sounds like something from star trek or something where everything is legal (Besides A logical person's sound mind when it comes to causing harm to others) Like just because theft might be legal doesn't mean everyone will do it or that there are no consequences. Then the mainstream media and public got hold of it and twisted it around it still makes me chuckle when I hear them talk about "Online hitman" "Murder for hire" "Red rooms" and other such nonsense that only makes sense in a twisted persons head or a story tellers head like a horror writer. Most likely the most destructive thing sold there were drugs. Which many believe should be legal anyway. Unless there were people activiely trading in explosives or such things I don't really see the big deal. In fact fewer people died buying drugs online than offline waiting on some filthy street corner for some strange individual you know you cant trust. Hmmm... But then again happy people don't wait around for drug dealers, right? So maybe it is a psychological problem then? But sure let's blame drugs and act like they the big problem. BTW what do you mean by "the government will come in and take my bitcoin" How? They will come into my mind? |
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I think so. I struggle to see how it could make someone's life worse. I feel it gives us some power and alternative means of income that is new and innovative. With blockchain technolo0hy so many different things can be done and there is so much demand for new ideas and things we never knew we needed until we had them. New devs are appearing every day with new ideas. However, most of these ideas never see the light of day. It takes more than just ideas to build something worthwhile. It takes planning and actually doing the work. So for me, bitcoin has definitely made my life better.
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I would say so.. This is why banks are up in knots and governments all excited about bitcoin. They know something big is coming and they know they can no longer hide their corruption. Bitcoin is more of a safe haven for the trust of the people to place their value in rather than fiat which constantly loses value all the time. I would stick with crypto thanks. The government must do its own thing. SO, yes I certainly would say it is a world power to be leaving such an impression on so many people.
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It depends very much on what sort of future you are looking for and where you want to live. I Reckon a few bitcoin is enough for most people. Third-world country bitcoin users could even go far with just 1 bitcoin perhaps even less. I mean what do you want? Do you want to eat like a king every day and have a fast car and a large house? Or are you ok with things being somewhere in the middle? Additionally, some people don't particularly want to be rich and accept where they are. This is true since many people are given opportunities to earn more profits yet they pass them up.
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I scatter my bitcoin into 3 wallets. One to save with. One to make larger purchases or trade with and then a hot wallet for making small payments but like the second poster siad it seems less and less likely like bitcoin will be used as a currency if these high fees have anything to say about it.
If you mean other crypto I keep 2 wallets. One to save and one to spend. Lesser-known coins/tokens I only ever use one wallet since I wait to sell them at the right time.
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Bitcoin has no prejudice. Bitcoin prefers no race, religion, or person. It is freedom. This and the fact that it requires no trust is why I love it so much. As soon as there is human interference things go "wrong" or go "missing".
Talking about blind people. Maybe bitcoin is better than using notes? When you scan the qr code the person has it will tell you what the details and amounts are. Maybe with banknotes, you give the wrong one day? I know they different sizes but for someone blind giving someone, the wrong note can happen if you in a rush or something, think about it. So having a QR code that announces out with a voice what the details are is really helpful. You can also enable safeguards for the blind person which will also increase security. For example, they must say a certain word with their own voice in order to fully confirm a transaction before going out.
I have not given this topic much thought and I am glad you have brought it up. It is important for us to help others and #payitforward. Let's use bitcoin and crypto for the betterment of the human race. Freedom = happiness. A Tyrannical government does not.
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I got my Father to invest in some mining equipment finally after years he woke up. He says he is tired of working so hard for nothing and likes the idea of being paid to help secure a network. He understood how crypto worked the first time I explained it. My Mother says "crypto is your thing" but she is glad it is around since I enjoy and profit from it. My Brother is a bit of an oddball but he does own a small amount of it on a local exchange he bought from 2 years ago. My friends know about it but are not really sure. They are hardly the innovative type or ones to change the world. I guess we have different interests.
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You should do both!! HODL for life while spending your bitcoin on your life! IT is a currency as is meant to be spent. Enjoy it when you know the price is up high and don't sell or spend it when you feel the price is undervalued. This is really the best advice I can give.
This is also why crypto that is backed by more than just itself and the blockchain is better to invest in since you can get real-world products and services in exchange for the crypto instead of just a dream.
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They are looking at the extreme and have no idea what they are talking about. The world itself could be taken over by various groups. In fact, bitcoin needs 51% for a take over, in history, it takes a much lesser % of total people to conquer the world. Loo kat Germany and Britain. They are a small % of the total people in the world yet they took over?
It is like saying cars are dangerous and you shouldn't drive one because you can die?
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Money is just a medium of exchange we use. As long as all parties involved in an agreement it doesn't matter what you use as "money" It needs to be something that cannot be easy to copy or replicate.
It could even stone if you so desire. If people give value to it, it becomes a commodity. I think these people you are referring to don't understand their own area of "expertise" this is basic stuff you learn in any business school.
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That's so sad. It is also sill that someone in the I.T industry would make such a foolish mistake. Furthermore, the ironic thing is they encrypted their USB to "protect it" By using security and "protecting it" they shot themselves in the foot. No point trying to protect something that is under no threat. They should never have encrypted it and rather just kept it somewhere where it stays offline and safe.
The chances of this happening vs the chances of being hacked are way off.
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I don't bother with people like that. Anyone who thinks everything that they say is pure fact and that they are always right is a moron. It amuses me when people seem to think they know so much more than other people when while they don't even know what they are saying. Most likely this fool was scammed for his bitcoin and instead of taking responsibility he blames bitcoin.
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Do you mean the Chinese government? Be precise, please. If so then I think it's great that they take their miners away. It will level the playing fields for the rest of us who don't have access to dirt cheap miners GPU's and almost free electricity with very cheap rent on storage houses. 51% attack is still pretty cheap if you are first world country. Nice way to destroy currency, isnt it?
Just because you can afford to buy 51% of the bitcoin doesn't mean that 51% of it is for sale. If 50% or more of the holders don't want to sell then you cannot perform the attack. I would say it is safe & if bitcoin could have been destroyed this way it would have a long time ago back when bitcoin was more affordable and there were fewer coins in circulation. |
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Here's a very similar topic just posted yesterday.  Topic: How do you deal with 'Selling early' regrets?Anyway, you said you sold because you needed the extra push, and you did achieve that. I really don't see the problem in your case assuming you actually still have a good amount of bitcoin left; also taking into consideration that timing a buy or sell position is almost impossible anyway so there's almost nothing you could've done to predict this price increase. I mean, what if it ended up going the other way instead? Also, there's a reason why I personally almost never sell a substantial amount of bitcoin without any reason. (e.g. I need to pay $1k to my dentist, so I only cash out $1k worth of BTC. No more, no less). I bloody sold when it was down at $4=$12k but I needed the fiat and crypto is my only source of fiat. I always try to remind myself that it could have gone the other way but I can't help but feel the odds were far in bitcoins favour and I still believe it is. In hindsight, it is easy to judge. So you had a car crash? Why didn't you swerve around the person left and not right? When you flip a coin? Why did you not pick heads instead of tails? It is easy to look at the chart and say "Well I should have bought here and sold there" but you are looking back with godlike insight. I agree with you, it is a good idea to sell every now and again and enjoy the benefits. |
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Dude bitcoin is going to see 1 million. Covid has forced many countries to print out money and thus leading to inflation. Bitcoin suffers no such ill fate. A few years ago I think it was very obvious and almost a guarantee to gain great profits. People can't patient. Shut up buy some bitcoin today and lock it away for 5 years. I believe bitcoin will go past 1 million more than I believe my own counties currency will ever be worth anything. In fact, I have more faith in bitcoin than anything else in life. Why shouldn't it hit 1 million? It is still new but I think many people reading this will not listen and in 5 years regrets it.
So if you are not rich in 5 years it's because you didn't listen so come be rich with me!!
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I wish it would crash to $3000 Image just selling 1 bitcoin then buy over 10 back!! I think people should sell half of their holdings to be safe. If bitcoin keeps going up then they accept that small loss. If bitcoin drops then they can buy back and be happy. Either way, a nice profit is made.
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There is no advantage other than the fact that there are more. It is like asking what difference does holding a $1 note or $100 note, other than they differ in value. 1 BTC is a nice whole number and many people talk about it that way because I guess it's just nice to own a whole coin instead of fractions of one. Sounds like the pamiliar currently owns 1 bitcoin, not some. even though they are both bitcoin. it's just that maybe 1 will feel so perfect. even though those who already have 1 bitcoin are not satisfied if they don't have 2 bitcoins. etc.
it's more about satisfaction. but satisfied in today's human character when presented by looking at the price of 1 bitcoin $ 50,000?
I think they want more than 1.
Human nature and basic greed. That or it could be ambition. |
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