Are meme coin worth buying in the long term?
What is your reason for buying meme coin?
Nope! Memecoins are meant for gambling. So you can invest in a memecoin for extremely shorter term. The moment the price hits your personal target, close your trade. Memecoins are not for long term investment. I specifically stay out of the memecoins because I don't like such coins without utility. These coins are mainly making its creators rich. It is really not targeted for you to become rich. If you can make out some money in memecoin, consider yourself lucky! |
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Well that's China's problem! Why would the rest of the world care about it when China itself doesn't care about the rest of the world?? I see no reason!
China has invested billions of dollars in many other small countries as well. Now when these countries are unable to pay back the debt, China is taking over those projects to build military infrastructure.
So I honestly don't believe anything coming from China. Not the good and definitely not the bad. You never know what's going in the background.
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I think the crypto users have started understanding the potential of Bitcoin and they very well understand, that the current price level is just the beginning of the bull cycle. Probably that's the reason they do not want to caught up in FOMO just yet.
During the last bull cycle, Bitcoin reached upto 69k USD. The current price level is nowhere near it. So there's a lot of room to grow. It doesn't make sense to give up on the hope just yet. Also another halving is imminent.
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If I speak from the technical perspective, Indian cryptocurrency exchanges are quite good. Asop mention they have good UI instant conversion as well as same day bank settlement facilities. But 30% tax from the government has ruined their customer base.
I have completely stopped using Indian exchanges since that 30% rule has came into effect. Another pain is the KYC requirement. So if you ask me what is my favourite Indian cryptocurrency exchange, I would say none!
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I saw recently that a transaction was done where the transaction fees were 83.65 BTC to move 139.42btc. You can ignore the above news. It was a mistake so no point in discussing. With transaction fees like this, and traffic inevitably going up over the years, will Bitcoin become unaffordable to use?
I cannot deny the fact that the transaction fees of Bitcoin is at all time high. If this continuous then Bitcoin's mainstream adoption will take a big hit. Because no one would use Bitcoin just because of the high fees rather they would be more comfortable in banking transactions. I don't know if there is any way to remove ordinals from the Bitcoin network, but this seems very necessary. Bitcoin needs to stay competitive in order to gain mainstream adoption and acceptance.
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One crypto executive predicted five months ago that spot Bitcoin ETFs would only be approved after Binance lost ground on its market dominance. Binance’s $4.3-billion settlement with the United States was the final hurdle before the country’s securities regulator approves spot Bitcoin exchange-traded funds (ETFs), many industry watchers claim. The settlement to Justice Department and Treasury compliance monitors for up to five years, allowing the agencies sweeping powers to keep the exchange in line with Anti-Money Laundering and sanctions rules, among other things. The U.S. Securities and Exchange Commission has cited market manipulation when denying spot Bitcoin ETFs, and Binance’s market dominance had to take a hit before BlackRock’s spot BTC ETF application would be approved, according to a June X Twitter post by Travis Kling, chief investment officer of Ikigai Asset Management. SourceSounds more like a conspiracy theory to me. But Americans being Americans, be might be more interested in working with an American company for spot Bitcoin ETF. I would say the Bitcoin ETF will be approved eventually. Blackrock will have to exercise some of its power within the US government. Everything is bought and sold in the open market, even governments. Blackrock needs to find out the right price for SEC. |
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As you can see on this mempool site, https://mempool.space/, bitcoin unconfirmed transaction is 223426, which means the mempool is congested. Ordinals and Inscriptions is part of what that makes bitcoin mempool to be congested. Ethereum network can also be congested with it transactions and its tokens transactions like ERC20 tokens most especially. Yes I see that. I see that there's no move in price as well. More demand means more price isn't it? Nope! The fees amount has no relationship with the price. The fees is not increasing because of Bitcoin's demand. It is increasing because ordinals have again become active and they are using Bitcoin network. So the network is becoming congested and the fees are increasing as per the normal process. This nonsense called Ordinals need to be stopped immediately. Otherwise, Bitcoin network will also become similar to ETH. |
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All stable coins are centralised. So it's not only USDT. Rather any other stable coin issuers can take such steps to freeze your money for whatever reason.
While I am not gloryfying the illegal act, stable coins are good for trading purposes only. It just becomes easier to calculate the profit and loss from a trade. Otherwise these are the most useless kind of cryptocurrency exists in the market. Never ever keep your money in stable coins.
This is why stablecoins are not so secure when it comes to storing your funds. As they can freeze any account for whatever reason they think is necessary, you are no exception to such possibility. Though as you said, we are not tolerating such illegal act, but it clearly shows that they got a hold of your funds if they want to. These bad actors will soon find other alternatives to deal their funds discreetly, out of prying eyes of authorities. Stable coins act like a bank. But in this entire incident I am happy that some criminals were caught. We need to keep the crypto market clear of criminals. So whatever Tether has done is great. But as a regular crypt to user I would not be comfortable in keeping my crypto assets in stablecoin. I would only use it for my trading activity and that's it. No criminal act but no authority to lock my fund is acceptable for me. |
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All stable coins are centralised. So it's not only USDT. Rather any other stable coin issuers can take such steps to freeze your money for whatever reason.
While I am not gloryfying the illegal act, stable coins are good for trading purposes only. It just becomes easier to calculate the profit and loss from a trade. Otherwise these are the most useless kind of cryptocurrency exists in the market. Never ever keep your money in stable coins.
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If the privacy is what you are looking from cryptocurrency adoption you should go ahead with Monero. There is literally no competition in this market and the best part is that Monero is minable through CPU. You do not require those expensive rigs to mine this cryptocurrency.
But the majority of the crypto users are mainly investors. They do not like to spend their cryptocurrency. I have no shame in admitting that I am also an investor. So monero is not something that are appealing to this investor community. Investors will always stay with Bitcoin because of the huge upside potential. But for regular users who are concerned about privacy, Monero is the best choice.
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I personally wouldn't be surprised if Argentina legalizes Bitcoin now. Currently Argentina is facing severe financial crisis and battling with high inflation rate. The new President has to look into this to make things better for his people. Considering argentinian currency is failing miseurably there is a possibility for Bitcoin to get ligalized just to bring in stability within the economy.
I think an immediate change is not going to happen. But over the course of next few months, we might hear encouraging news about it. But please don't expect that Argentina is going to remove their own currency completely.
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when the rich say 'ill give 95% of my billion away over my lifetime' they do not mean if they have $1b today they will be at $50m at death. what they actually mean is:
they have $1b in a bank account at 6% interest
meaning it earns $60m a year.
they give just $50m yearly interest away for the next 19 years ... (totalling the $950m pledge)
yet keeping the $1b lump plus earning $10m of personal spending per year
also the % interest is usually more than 6% but they only give 5% to meet their humanitarian/altruistic hustle pledge
enjoy that thought next time the rich try to make it sound like they are going to give up their wealth for humanity.. because reality is they are not.
That's fine! What's the problem in that? At least they are giving out towards philanthropy. Definitely some people do it as a publicity stunt to increase their reputation and to make their brand more visible. But there are some billionaires who does all this philanthropic works without letting the media know. It's impossible to find things which are straight as arrow. At the end of the day everything boils down to the business. |
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Bitcoin ETF approval nearing, but brace for more setbacks: BitGo CEO stated that the market structure needs to improve before the U.S. SEC will grant approval for Bitcoin ETFs.
That is my biggest concern. When someone says that the market structure needs to improve, what it really means? Does it mean more regulation? Very strict KYC verification? 100% data sharing agreement with IRS? Higher tax rate? What it means by the better structure? The better the structure becomes for the government, the worse it grows for the crypt users. |
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Technically you cannot avoid third party when Bitcoin is being used. You can broadcast the transactions to the network but then you would need miners to approve the transaction. So I am not sure what benefit this particular act will bring in. Also when it comes to self hosted wallet do you mean hardware wallets? Criptocurrency users are already aware of the risks that comes with centralised exchanges. But a lot of traders are reluctant to move their funds from the exchange wallet to their personal wallet on a daily basis. The reason is exorbitant transaction fees. Unless Bitcoin network can fix their own flaws, no amount of legislation can fix the problems that comes with it. |
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Unfortunately what op is saying is true! That's how the modern economic system works. Physical money isn't required by the government. Physical money is only required by the common people like you and I. But when it comes to government, they use paper bonds and Bank guarantees. It is a simple piece of paper that guarantees the transfer of value from 1 entity to another. That's how literally it works everywhere in the world.
It is not a matter of big concern because the value of your Fiat money is guaranteed by your government. So it is not required to have 100% of fiat money printed and ready to be used.
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For some reason I got this taught from a discussion I was partly involved in where the persons were all complaining on how they lost so much during the bull market and it made me wonder how possible is this if one should be able to avoid so many factors that posses these results of losses.
It would be nice for the community to discuss how these period are so vital on profits and also how they can also be a hit by some these scammers that are fully active during this period due to same reason that everyone is always hyper in these period.
There are some very simple ways to avoid scammers in the crypto market. Let me point this out for you. 1. Do not give away your private keys or seed phrases to anyone 2. Greed is one primary reason for losing money. If you hear some investment will give you astronomical returns, it is wise to stay out of that. 3. Don't trust anyone when it comes to your crypto holding. Do not connect your wallets to any random websites 4. Do not use your primary wallet to do small transactions. Always keep your main holding separate. 5. Use licenced softwares and anti-virus programs and keep them up to date. Hopefully these tips will help you. |
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Not sure what attitude of SEC you are referring to. But I firmly believe that attitude of individuals do not really matter when it comes to approval of spot ETF.
I completely understand that there is a huge amount of expectation building up. So anyone can comment anything to bring personal visibility rather than adding any value to this entire matter. So stop expecting much or else the fallback will bring pain.
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NFT tokens and Crypto based real estate project the biggest scam to take place in last 3 years and I have listed the reason
Absolutely yes! NFTs are the biggest scam in the cryptocurrency world. Thankfully majority of the users have now understood this fact and moved out of NFT market. Facebook also thankfully came out of their virtual world project which failed to attract users. These digital goods do not have any utility and they do not add any value to your life. God bless those who had invested millions in buying a digital real estate or a piece of crap image thinking they will become a billionaire one day. |
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Have there been made any calculations how high the transaction fees for bitcoin main network could get in the future?
I currently have my BTC stored on a MultiSig cold wallet, which can't be connected to a lightning node. Do you think it's a better idea to move them to a lightning wallet like on electrum for example before the transaction fees get too high? I want to avoid paying a big amount just for one transaction in the main network
As there's no limit on the bitcoin price, similarly there's no limit to the bitcoin fees as well. Also there's no way to predict. You can check the mempool to see the current bitcoin fees. Lightening network is a solution to it for sure. But it's a sidechain. If the bitcoin fees becomes higher than ever, it will somewhat affect the LN as well. Because LN also broadcasts the transactions in bulk. The Ordinals need to stopped once and for all. |
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Ah! Crap! Not anymore! I am sure majority of the bitcoin users do not want to see such craps coming into the Bitcoin network. You have matic network, ETH network to do all these nonsense activities. It will be great if Bitcoin network can be kept ordinal free.
Also, all the best to the investors of 7.5 Million USD who still believes in NFT. Lol!
Isn't that the whole point of crypto, that people have freedom to do stuff like this. The pointless crap is the living statement of it and natural causation of freedom. Whole crypto field never goes as planned, as with total freedom comes unpredictability. Only thing you can predict is that people will use it in any way they please. People who i don't like, are constantly using it to fund themselves for example. I can't change that and that's he thing that makes them different and valuable. It's the whole essence and beauty of cryptocurrency platforms in the first place. Freedom to do crap as well as anything else. Yes! You have a point! It's all about freedom without any Central authority. People get to do whatever crap they want but in a real world, it should not affect others. With all these NFT thing, ETH users are still suffering with high fees and Bitcoin users have started suffering. If the freedom is affecting others, that's not a good freedom and needs to be stopped. But yes, you have a point! |
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