@ JayJuanGee, I don't know from where you get the idea that I am supporting the shitcoins. I have always opposed the altcoins (with rare exceptions such as Cardano). But the reality is that there is a very large section of users who prefer these coins for a wide variety of reasons. Some of them think that coins such as Cardano and NEO represent more advanced technology and are therefore more suitable to resolve issues such as scalability and high transaction fee. Also, another large section believes that BTC has already plateaued and they will get better returns by investing in the alts. I don't agree with the second view. I still believe that in the long run, BTC will give much better returns when compared to the alts.

For most of the other points, I could somewhat agree with you. I could foresee an increase in the amount of hostility from the authorities, but as you have posted, now the community is mature enough to take care of these challenges to a great extent.

I have always taken a more cautious approach when compared to the other users. $250K is "reachable" in this cycle, but I would not say that it is "probable". Having an exchange rate of $250,000 per coin would mean that the market cap of BTC alone would be in the $4.5-5.0 trillion range. If you add in the altcoins as well, then there is a good chance that the cryptocurrency market cap may even move past that of gold. Once again, such a scenario within the next 6-7 months is possible, but not probable.

A lot of the optimists assume that things will remain the same for the next 5-10 years. But I can foresee a lot of conflict from the establishment. El Salvador's announcement to make BTC as the legal tender is very significant. It means that Bitcoin is directly competing against the US Dollar. Being a skeptic, I would predict action from the US government authorities to stunt the growth of Bitcoin. Now I don't want to dampen the mood here.. but I don't expect the next few years to be a cakewalk for cryptocurrency.

In my case... Bitcoin has already made me rich from my investment in 2012. In case the exchange rate rises to $250K, then it will make me insanely rich. And if your prediction of $3 million is realized... then I will be unimaginably rich.  

If this extreme volatility was not there, then I guess many more countries would be open to having Bitcoin as the legal tender. The reason why countries such as El Salvador and Ecuador are having US Dollar as a legal tender is due to the fact that they can't guarantee that the local currency doesn't get devalued very frequently. Since the US government is guaranteeing the value of USD, they don't have to worry about it.

BTC can take the place of USD, as it provides additional advantage. US Dollar is not protected against inflation and if more and more countries use it, then it provides an advantage to the US government. The Americans can print banknotes without a limit, and these countries (such as El Salvador) will sufferer from inflation. BTC is decentralized and it makes sures that such a scenario doesn't occur.

The news was about Bitcoin, but I can see almost all the cryptos going up by anywhere between 10% and 20%. It is quite frustrating actually. El Salvador is accepting Bitcoin as a legal tender. They are not accepting any of the shitcoins, including Doge or XRP. Still a section of the users are using this opportunity to pump these shitcoins. Anyway, I just want to concentrate on the positives. We will take care of the shitcoins later.

BTW, the community has reacted in an overwhelmingly positive manner to this news. And it should be like that. Because this is a groundbreaking and historic moment for Bitcoin. The excitement within this forum is quite visible and I have seen at least 10-15 different threads on this topic on various sub-sections.

Actually it is very simple. If you want to become rich from Bitcoin, then all you need to do is to make sure that you don't sell your coins in panic. If you are investing in stocks or bullion, then you need to check the financial statement of the company every now and then. With Bitcoin that is not needed. There is no need to check the exchange rates every one or two hours (on the other hand I would discourage it, because it makes people more susceptible to panic selling). That said, your target of $3 million is stretching it a bit too far. For me, I would be happy with my target of $250,000, if it can be achieved by 2025.

It was indeed heartbreaking for Argentina, but they are in no real danger as far as qualifying is concerned. Right now they are on the second position in the points table, behind Brazil. On the other hand, Colombia may struggle to qualify despite the draw over Argentina. Anyway, it was good improvement from Colombia. Let's not forget that this is the same team, which got thrashed 1-6 against Ecuador a few months back (and after that they went down by 0-3 against a weak Peru). So it is good comeback from them.

I am afraid that the era of Americans overthrowing any Latin American regime that they don't like is over. Recently, it is not turning out well for them. They attempted a regime change in Venezuela, and failed in that. And then again attempted another in Bolivia, and failed miserably there as well. And now I won't be surprised if they turn their attention towards El Salvador. I am more worried about proxy interference. With millions of Salvadorans working in the United States, the Biden regime (if they want), can choke the Salvadoran economy.

The problem with this plan is that Biden assumes that his administration is smarter than the previous one and he thinks that if he brings a few legislations in to effect, then all the tax evaders will simply come up and agree to pay the pending dues and penalties. That is not going to happen. Almost every Democrat president since the 1980s have attempted the same. And none of them have been successful. If he really wants to bring down the level of tax evasion, then the tax rates need to be lowered. Here he is going in the opposite direction by increasing the tax rates.

Back in 2010, we had a chance to purchase Bitcoin, when the price was $0.001 per coin. New Liberty standard was the first exchange where you could purchase BTC for fiat, and back then it was possible to purchase BTC using a credit card or PayPal. The more advanced cryptocurrency exchanges came in to existence in 2011 (Mt Gox, BTC-e.etc), but by then the price had increased to around $1 per coin. When I made my purchase in 2012, the price was close to $10 per coin (including the markup that I paid in Localbitcoins).

For many of us, the cost of living is not going to be an issue (even if it gets a bit expensive, the tax waiver on profits from Bitcoin will more than make up for it). My primary concern is the presence of various transnational gangs such as MS13 and Barrio 18. There are an estimated 60,000 gang members in El Salvador. What is the guarantee that they will not target crypto entrepreneurs? And don't forget that many of these gangs are part of the drug war in Mexico and they have thousands of members even in the United States.

There is no doubt that Trent Boult is one of the top ranking pace bowlers in the world currently. But the dilemma for New Zealand selectors is whether they should go with an all pace attack (if de Grandhomme is also playing, that means a total of 5 pace bowlers). Mitchell Santner is injured and therefore they don't have the spin option. There is a rumor that Ajaz Patel may be included in the playing XI, replacing de Grandhomme. In that case they will have 5 full-time bowlers. Now this poses another dilemma. The batting lineup is already weakened due to the absence of Williamson. Can they afford to have 5 full time bowlers?

So what you did? Did you converted your alts to Bitcoin, or did you dumped them for fiat? A very important lesson that I have learnt over the past 9 years is not to sell the coins at dips. It looks as if the exchange rates have bottomed out, at least as far as Bitcoin is concerned. Many of the alts are still looking overpriced though. You should have taken advantage of this situation and converted most of your alts to BTC. It could have reduced your risk profile. The chances that BTC will go much lower than the current level is very slim.

I am not residing in India right now, but from what I have heard a lot of people have been pushed in to poverty as a result of this pandemic. So the situation there is different from what they have in developed nations. The government itself is cash strapped and the taxes on petrol and other commodities are at historic highs. And as a result they haven't been able to roll out too many stimulus programs. And I guess that the situation is same with the other developing nations as well. There is no large influx of fiat, unlike the case in developed nations.

Social media platforms such as Twitter and FaceBook think that they are above democratically elected officials (ironically this is the same thinking that we see in socialist utopias, such as Cuba and North Korea). They want the governments around the world to dance according to their whims and fancies. A few weak governments, such as the one in India may bend down and obey their orders. But in countries such as Nigeria and Myanmar, they are going to face a lot more opposition.

Twitter is a social media platform and it should behave like one. Things get complicated when it intervenes in the politics and take sides. If they want to play politics, then they should not claim that they are just an intermediary. It also means that they are responsible for the content of their users. And this is applicable not only for Twitter, but also for other social media platforms such as FaceBook and Instagram. We all saw how social media can influence the elections, when these platforms put a complete gag on information related to Hunter Biden's laptop (a few weeks before the POTUS elections). Even a Washington Post article was removed from Twitter (despite the left wing bias of that particular news paper). On the other hand, left wing campaigners were actively posting fake news and Twitter took no action despite multiple users reporting them.

He can defend himself by claiming that all he did was to promote the projects and he was not involved in their development. Many of the users have accused him of promoting the projects, despite knowing that some of them are likely to be scams. But these arguments will be difficult to prove in the court. What disgusted me the most is his behavior after the promoters vanished with the money. Rather than being compassionate, he was mocking the users and saying that they are idiots to invest in such projects.

Mitchell Santner has suffered a finger injury and has been ruled out for the next test match. Actually, this will be a huge relief for the New Zealand selectors, because they were facing a selection conundrum. Trent Boult has rejoined the squad and it was difficult to include him in the playing XI without dropping someone who is doing good. Now New Zealand is likely to go to the second test with an all pace attack, comprising of Boult, Wagner, Southee and Jamieson. Will be interesting to see what kind of pitch the curator will prepare.

May need to wait until the next major bull run. Crypto prices are down by at least 50% from the ATH levels. In case of Bitcoin, the exchange rates have simply collapsed to $32,000 from a high of $62,000. But the good thing for altcoins is that despite the slump, they have mostly held on to their market share. At the time of ATH, the Bitcoin dominance was 40% and right now the figure stands at 41%. So this time the altcoin market share didn't go down, despite the sharp correction in exchange rates. 

I know that some of the bounty hunters and airdrop participants from the third world nations are happy with rewards of $20 or $25 per campaign. But the transaction fee is one of the main issues here. Recently, in many cases the cost of moving the tokens from wallet to the exchange went as high as $50. That leaves the bounty hunter with no option other than to keep the tokens with him. And in the end, he suffers losses when the token price goes down. And no one likes it, when the reward can't spent after working so hard.

Since Ollie Robinson has been suspended, Dom Bess will be replacing him for the second test. I don't have a good opinion about Bess and he was horrible during the series against India. On the other hand, Trent Boult will be joining the New Zealand squad, thanks to relaxed quarantine requirements. However, the New Zealand selectors seems to be in a dilemma. I would prefer leaving out either Mitchell Santner or Colin de Grandhomme. But there are talks on resting either one of the three frontline seamers who played in the first test.