Latest posts of: avikz

Please be informed that Binance is not doing it at their own will. Privacy coins are considered as a potential threat to National Security by the US government. That's why they are forcing Binance to delist any privacy coins from their marketplace. So this incident should not be seen as the mistake of Binance.

In due course of time, the truth will surface but I strongly believe Binance is not doing it willingly.

And yes, Decentralized exchanges are available for you to use just in case.

Quote from: OddJobsForBitcoin on December 30, 2023, 08:27:28 AM

4. How Can I Pay Lower Bitcoin Transaction Fee and Not Get Stuck?

Probably it is best to watch the network and the transaction fees to understand when the fees are at a lower level and broadcast your transaction at the same time. Or the best is to stop using Bitcoin totally unless this nonsense ordinals are completely banned by the Bitcoin developers.

Honestly Bitcoin has lost it's charm as a payment method, rather it has become the slowest and costliest one which everyone would like to avoid. It's just an investment right now.

Corruption is everywhere! In some places it's hidden under the pile so it's not visible enough to the common people. But in majority of the places corruption is a common practice. So it's not easy to eliminate corruption from the society.

Probably it is a bigger problem in Nigeria and in many other African countries as well. But if you are looking for a corruption free society, you are probably day dreaming.

That's why people from such countries always look for ways to move to a developed country. Sad but that's the reality.

Quote from: Parklane777 on January 02, 2024, 05:02:36 PM

Im looking for traders who will trade with my capital and instructions.
You will be using my funds and trade according with my method.

Anyone interested ? And you will be paying my share every week to me or 2 weekly how i want.
You need to have some experince Im not gona teach you basics so i hope to find some good partners.

Thank you !

Be very very careful with such a proposal. I am sure you have received many personal messages already. But do not trust random strangers with your money.

Also when the traders are expected to trade using your own instructions, why can't you do it yourself? That way your money will be safe if it 8s obtain via legal earning sources. If not, take your proposal elsewhere. Don't trap anyone from here.

Quote from: kentrolla on January 04, 2024, 03:14:48 PM

I have often seen that trading volume has been reduced by more than 90% in Indian exchanges after the draconian tax implemented for trading and users have switched to international crypto exchanges but how does Indian exchange still make money or survive? Are they still managing with the profits they earned all these year? Some have shit down operations and some has laid off their employees but will there be any changes to the regulations? Even exchange owners are afraid of speak out against the current regime fearing repercussions but if things don't change them once booming Indian Crypto exchange industry will die a slow death. What are your thoughts on this?

Just an articles posted fortnight ago in this regards -
https://www.firstpost.com/tech/indian-crypto-exchange-wazirxs-trading-volume-falls-by-90-per-cent-as-regulatory-delays-continue-13529432.html

Indian government paved way for the Indian cryptocurrency exchange to survive. One of the recent news is that the IT ministry has decided to block 9 foreign based crypto exchanges in India.

https://www.indiatoday.in/technology/news/story/india-to-ban-urls-of-9-crypto-exchanges-including-binance-for-non-compliance-with-anti-money-laundering-law-2481870-2023-12-29

So it will force the users to shift to Indian exchanges sooner or later. If there's no choice given to the users, what else they can do!

Quote from: kentrolla on January 04, 2024, 01:59:52 PM

When I as we I meant those who have panic sold their holding and it's sad people don't understand that just one event like spot ETF approval cannot define Bitcoin's future and people should stop believing in these smear campaigns because no one can predict much about crypto or Bitcoin.

Can't agree more! People who are involved in Bitcoin since some time, they understand that an ETF approval cannot define the future of Bitcoin. But the dumps are coming from novice speculators. Actually seasoned Bitcoin holders do not care about weather and ETF is going to be approved or not.

Honestly it just needs some market maturity before Bitcoin can stop responding to such events. Unfortunately we haven't yet reached to such maturity level.

Quote from: anushkasachith888 on January 03, 2024, 08:31:17 AM

NFTs have taken the digital world by storm. How do you envision non-fungible tokens impacting industries beyond art and gaming? Share your wildest NFT use-case scenarios!

And then it has died a quick death!

NFTs are the most useless things I have seen in a while. The only area it can be successful is the in-game purchases where people usually spend money to get more power or accessories.

Otherwise, it has no value. Even Cristiano Ronaldo couldn't save his own NFTs so I don't think anyone else can. So my advise is to stay out of NFTs.

What else you can expect from a strict communist regime? China was never a cryptocurrency friendly country. They were the first country to ban ICO. They had multiple other public circulars regarding the usage of cryptocurrency within the country. So this public warning is not at all a surprise. I won't be surprised if China decides to completely ban cryptocurrency and impose punitive measures against the users. That's the basic nature of an authoritarian government.

Probably the government is seeing an increased use of USDT, hence they are being very specific in their warning.

Quote from: Shishir99 on January 03, 2024, 12:46:17 PM

Which one could be reason of such movement?

It's not possible to single out a reason for such bleeding. There could multiple things in play. But it's usually due to negative sentiments around the market. That negative sentiments can be induced by multiple things.

When miners send bulk Bitcoins to exchanges, the general reason is to sell off the Bitcoins to recover profit. So the price is dropping significantly as the market is expecting a huge dump of Bitcoins. But that's not the only reason. The nature of crypto market is volatile so I always suggest people to not completely rely on cryptocurrency only.

Quote from: Eldestyoung on December 30, 2023, 02:22:52 AM

I need not to pause to say how delightful I'm to hear that the Central Bank of Nigeria has changed its stance on crypto assets in the country and asked banks to disregard its earlier ban on crypto.

It gives me joy to know that we can now transact in crypto without difficulty. Before now in Nigeria transaction in crypto has always been difficult and stressful especially using P2P.
This calls for a celebration for all crypto lovers in Nigeria.

Good for Nigeria! I hope finally the central bank have understood the power of crypto and also understood that they cannot ban cryptos through a law or a circular. Rather it will force multiple people to hide their crypto transactions and underpay taxes. So it's a two edged sword for both people and government.

Hopefully, other African countries will realise the benefits soon and follow Nigeria here.

Quote from: pooya87 on December 31, 2023, 01:06:37 PM

I just read this news and I can't stop laughing.
McDonald's is said to be planning to sue people who have been refusing to buy its products over the past months leading to their $1.3 million loss. This is due to a boycott movement where people in a lot of countries are sanctioning this company because of its support of the Zionist regime that is occupying Palestine and is committing genocide there.

Imagine if some day you are out and about, suddenly someone wearing a chicken suit puts a gun to your head forcing you to buy their fast food or they'll shoot you Cheesy

Ref: https://www.moroccoworldnews.com/2023/12/359864/mcdonalds-malaysia-sues-pro-palestine-activists-over-boycott

McDonald's is probably trying to sue an organized group of people who are constantly trying to put the brand under wrong light. The conflict between Israel and Palestine is unfortunate as common people are getting murdered every single day. But wha a business has to do about it? Just because a brand is owned by a follower of Judaism, doesn't need to be banned or constantly attacked.

This is very same incident where every Muslim people doesn't need to be blamed just because some Muslims are creating issues internationally. That is called generalizing. I think McDonald's is going a little stringent on this incident because they could have used intelligent marketing to bypass this.

Quote from: ArthurY on November 09, 2023, 08:38:55 PM

Mempool right now seems to be in spam
Transactions almost for 500mb is stuck
Seems like it's will freeze

High priority tx fee will cost 182 sat/vB Huh

What further steps will look like if this spam continues?
I don't remember this happening before in history

Miners are having a blast right now he he Grin

Bitcoin is having a bull run right now. Also nonsense things like ordinals have not yet stopped. And we can see the result of a clogged Bitcoin network. If ordinals was not there, we probably wouldn't have to see this today. But fortunately, ordinals are still life and the primary source of spamming the network.

I remember reading in this forum that the development team is planning to expel the ordinals from the network. Can anyone share any update on this?

Quote from: Parklane777 on December 26, 2023, 01:57:01 PM

We all know that recless money printing and inflation will cause more taxes also higher property taxes.
Rich people knows to hold properties it's a liability the maitance and taxes it's a extra burden and stress.
Instead of owning the single House or building you can just invest in REIT.
I see now there is plan to lower rates and give to the middle-class opportunity to get properties with cheap price and with attractive mortgage rates.
That's how the rich ones get out of the upcoming tax burdens and Extra liabilities and responsebilities.
Now they waiting btc ETF once approved they can allocate a lot funds from their real estate funds into cryptocurrency Market by using ETF.
When Canada Toronto BTC ETF was approved than a lot real estate investors invested in btc etf their capital and large part of Toronto real estate market was falling lower.
If you can see all the correlation than everything make sense.

If you invest in btc or crypto sure it's a asset and by default with the assets properties there is maitance expenses......but you keep your assets "maintance"cost under control If you do invest by dca % to averaging down.

But one thing for sure people specially the real estate and even CAR owners will be burdened with a lot taxes and liabilities by the goverments around the world.
That's why i stay out of trouble by not allmost owning nothing or any liabilities on my name as possible.

I have investment in REITs. Not one, but two! I am not classified as a wealthy person but my stock exchange allows me to participate in REITs. These are really great investments to be honest but they couldn't outperform Bitcoin really. Especially in COVID time, the return from REITs were quite low even compared to the traditional bank deposits. But it is now coming back to its former glory.

But that's not just for rich people. In my country, REIT investments are open to any eligible individuals and the units are tradable in stock exchange. So it's very easy to sell off the units if you need. personally I would recommend REIT as an investment if someone is looking for a above-the-market return.

Quote from: goldenmonke on December 31, 2023, 12:12:45 AM

Isn't the whole point of bitcoin permission-less exchange? I've heard people talking about the "benefits regulation will bring." But once they regulate crypto won't it lose an enormous amount of its core utility? A distributed ledger that is forced to implement changes from politicians will never allow free exchange or permission-less transactions. What's the point of it then?

So what is the pro-regulation crowd thinking in 2023? Are they confused or am I the one who is wrong here? I would appreciate any perspectives.

The entire situation is more about what government is thinking and not what we are thinking. We surely do not want regulation and we do not want to pay taxes. But the government would definitely want complete surveillance. Without regulation surveillance would not be possible and if we want to use cryptocurrency as a method of payment, that won't be possible either.

So regulation or no regulation, both have their own downsides and positive sides. But as a common people we do not control anything here. Unfortunately that is true!

Quote from: Uhwuchukwu53 on December 31, 2023, 04:48:16 PM

How possible is it that proud can be totally isolated from advertisment in relation to Bitcoin, though in my view the world proud can be relative but not in most cases. At the point of been a bitcoin earner,minner,marketer as well trading how can one be free of proud reason because is a genuine business compare to many illegal business people indulge on. Secondly I understand that any business people engage without being proud why advertising it have questionable character. As a beginner on this platform I have seen Bitcoin as business one need be proud of, because is of more legal backing even though many nation have not approved it, is more acceptable because only few business can be compare with Bitcoin in genuineness because many are illegal that some time involved bloodshed,loss of life etc, the reward of Bitcoin,it value freedom to operator with any level of certifications has brings many people with lost hope into a renew hope,this few point still ask if proud during advertisement on Bitcoin can be removed.

I am not really very sure what exactly you are referring to! But an advertisement of a new technology or platform needs to create a persona in most of the cases. So without creating a persona, the advertisement will be generic in nature. Which may not be able to reciprocate the benefits of this new technology. So the boasting is a part of the promotion which can create a perception in people's mind and create FOMO. Unfortunately, that's how marketing works.

Quote from: OddJobsForBitcoin on December 31, 2023, 11:47:09 AM

Bitcoin, a peer-to-peer payment system? Nah... more of a decentralized speculative investment platform.

Right you are! Bitcoin is more of an investment rather than a currency system. But that's what the mass wants. That's how a free market should function. When an innovation is launched and made it available to the mass, it's the public that decides the course of it. That's exactly what happened to Bitcoin as well.

Also, looking at the current situation of the transaction fees, Bitcoin is just not competitive enough to become a currency system. To be a currency system, Bitcoin needs to be cheap and fast, which is not the case. So take it as an investment only!

Quote from: anushkasachith888 on December 31, 2023, 08:15:32 AM

Cryptocurrencies have come a long way since the early days of Bitcoin and we are the early adopters of this remarkable technology. But still the mass hasn't adopted blockchain technology or Cryptocurrencies. So, As you think, How can we bridge the gap between mainstream adoption and the complexities of blockchain technology? Share your thoughts on making crypto more accessible to the general public

One of the major reasons for Bitcoin adoption by the mass is it's own complexity. Bitcoin usage is not really very easy for non technical users. The users need to understand couple of things before they can really start using Bitcoin. Also structured financial industry like banks have been spreading false information about Bitcoin to their customer base. I have personally received multiple mailers from my banks about Bitcoin and how big scam it is. Such emails sure do have some negative impacts.

Right now the biggest road block for Bitcoin's adoption is its transaction fees. Unless and until this issue is resolved, it's very difficult to convince someone to use Bitcoin. This needs to be solved on highest priority.

It is indeed a game of patience. If Bitcoin ETFs are not approved, we may see a drop in price but for a long term investor that would present another opportunity to score more Bitcoins at lower price. So speculators may get disappointed, but for long term value investors, it is just another opportunity.

Bitcoin price is not going high just because of the positivity around ETF approval. There are multiple other things in play here. The next Bitcoin halving is around the corner. For me, it is more important than ETF approval and potential have more impact on Bitcoin price.

Quote from: The Cryptovator on December 27, 2023, 09:32:49 PM

Bitcoin transaction fees have become a topic of discussion lately. A lot of topics have been created about Bitcoin transaction fees. It seems the transaction fees are throwing Bitcoin away from its original goal.

Today I attempted to make a Bitcoin payment on Namecheap. Instead of making transactions from the Ledger wallet, I tried to make them from Binance for a faster transaction since there was a 15-minute time limit. So the transaction and withdrawal fees asked in Binance are 0.0004BTC, which was almost $17 during the withdrawal.

Ok, let's forget Binance withdrawal fees. If I want to make transactions from the ledger, then the transaction has to arrive in 15 minutes. I am pretty sure if I want to ensure the time frame, then I have to spend similar fees, even from Ledger. So it's become hard to pay $17 transaction fees to make a $50 deposit. And by force, I had to use a virtual card that doesn't cost anything (I didn't notice any significant fees) and was an instant transaction as well. It made me believe that we are drifting away from Bitcoin's original goal in some way.

It's very unfortunate! Couple of days back I had also open the topic where I had to pay $197 as transaction fee. It's very disappointing to see that Bitcoin has indeed drifted away from its main goal. If these continues, Bitcoin will only remain as an investment and people will start using alt coins to do their daily transactions.

Unless and until the ordinals are completely stopped from the Bitcoin network, I see no way out from this situation anytime soon. There was a discussion where Bitcoins dev were talking about banning ordinals from the network. Does anyone know the status?

Quote from: tread93 on December 28, 2023, 03:32:30 PM

At this rate, I am seeing that now most corporate companies plan to remove the college degree requirement for jobs, which will transform the college education long term, and its looking like it won't even be needed unless you're going to be a PhD or a Lawyer etc etc.

The traditional mutual fund / 529 plan isn't really needed anymore if college isn't going to be a requirement, but now I am more so just thinking of a life savings plan is a much better and more flexible option. Maybe just set them each up a wallet and load x amount each making quarterly contributions. By the time they are old enough surely they would have more money in that account anyways compared to the mutual fund, right?

Don't fall for this trap. There are only a handful of companies where they do not look for a college degree to hire you if you have extraordinary talent. 99% of the companies still believe in meritocracy. The world you are dreaming of, is not going to happen in your lifetime. Probably few more generations will be needed to change this social system. So get a College degree and it is best if you can get a masters degree at least.

Saving in Bitcoin should be fine because Bitcoin has the potential to give you a great return which can cover your education cost. But be a little conservative and probably divide your investment to invest in both Bitcoin and mutual fund.