This isn't even his first failure. Before that there was Hyperloop and Boring Company. And the mistakes that he make are really amateurish. To the point when I'm wandering if SpaceX and Tesla succeed not because of Musk but despite of him. And maybe one day they will too lose half of their value when Musk announced some stupid changes that fundamentally change the relationship with customers for worse.

All of that is not sustainable. It's like a Ponzi scheme that pays its participants until it doesn't. Crypto games will disappear when speculation will be over, because no one plays them for fun. Staking is not profitable if the coin is losing value faster than the rate of staking, and they will lose value because no one uses them for payments or as store of value.


They are dying, thousands of coins are now worth zero. But it takes more than one bear market to kill a coin. And for each useless coin that falls, a new one emerges, because crypto "investors" don't care about economic value, they just speculate.

No. Capitalists don't really have that kind of power to defy social norms of their times. It's the social norms that change with time. Your examples don't show "capitalism destroying morality", it shows that religious morality is weakening in some parts of the world. Capitalism just makes use of the new opportunities.

But a new kind of morality is also being established. What some people call "wokeness" and "cancel culture" is just a modern secular morality based on ideas of tolerance and defending those who are perceived to be oppressed. So large companies cut ties with those who publicly make hateful remarks towards certain groups, even if it means that the company will immediately lose revenue, because not doing this could cause even larger revenue loss due to reputation losses. But 30 years ago they weren't doing any of that because society had different morals.

But if a coin is rising slowly, doesn't invest millions in marketing, it still can be a scam. And if it's not a scam, it's probably just a shitcoin that won't create anything valuable.

Crypto space doesn't have good investment opportunities. It doesn't create something that is actually used by people, and as the result creates value for investors. It only has speculation opportunities - you buy low and the price increases because other people bought after you. Eventually the price crashes and those who bought the latest suffer a loss.

And how exactly this system works is a secret to prevent people from gaming it. So if you think you can bypass it by splitting your transactions, using proxies, or other methods, chances are you will attract even more attention and will look more suspicious.

When I was withdrawing a large sum of money from crypto exchange, I just took a huge leap of faith, and luckily it all went smoothly. But I was reading reviews and discussions, and other people who use same banks were not so lucky and had their bank account frozen for doing large p2p transfers.

Your average purchase is not affected by selling. But now you must also calculate your average sell price and combine it with current value. So now you have 100 coins sold at some price and 250 coins at current price. Your average sale is 100/350 * selling price + 250/350 * current price. If it's higher than your average buy price, you are still in green.

How can Bitcoin produce large quantities of jobs? It's a decentralized network that is already fully implemented, it doesn't need more companies or employees. Bitcoin ecosystem is already formed, it has exchanges and other services that you mentioned. If Bitcoin would be declared a legal tender tomorrow by all governments, it won't cause a large increase of adoption, we already have El Salvador as an example. So there won't be millions of new Bitcoin jobs either.

Everything that has a value is an asset or can be an asset. Putting half of your wealth into Bitcoin is quite risky. It's an acceptable and even smart move if you have very little property, because even if things will go bad and Bitcoin fails, you could earn that value through other means. But if that's a decent chunk of wealth that can't be earned easily, like a large inheritance, than risking half of it is not good, better allocate only 10-20% in Bitcoin and the rest into safer assets.

It's hard to improve further from here. Many banks today have instant zero-fee transactions available 24/7. So does Lightning Network. What more can you improve? It's impossible to make perfectly stable currency, because everything in this world changes value with time. And the trusted custody vs self-custody will always have their own flaws and benefits.

You are doing a lot of mistakes here. Believing that Bitcoin can only go up and up forever is risky. There's nothing that guarantees that, in fact Bitcoin's value is based only on speculation, which is why it is so volatile. Next, Bitcoin doesn't retain its value. If the price goes down and you have an unrealized loss, you can't always afford to wait it out till the price goes up again. Sometimes life forces us to spend money, and if the value of your money happened to go down when that happened, you could be in a big trouble.

And lastly, you are using past performance to predict the future. But it ignores that conditions were different. Bitcoin market was small and had a lot of room to grow, and halvenings had huge effect because 25 and then 12.5 BTC were cut from supply every 10 minutes.

You got it wrong. USD didn't lose 99.9% of it's total purchasing power, it lost it's power that is relative to BTC, because BTC increased in value by hundreds of times. But it's a useless comparison. You can cherrypick thousands of things in this world- that have outpeformed BTC, like tech stocks or commodities or collactible items. This doesn't make them a replacement for USD. Especially if you remember that high performance comes with high risk.

USD is still one of the strongest currencies in the world. It's not because it never loses value, but because other currencies lose value faster than USD, and in a more unpredictable way.

It already happened in 2021. Covid caused inflation and Bitcoin was growing fueled by press releases by big companies supposedly adopting it to hedge against inflation. Until the price crashed and the companies stopped mentioning it.


Fed doesn't care, if it did, it would have banned Bitcoin many years ago. The biggest enemy of Bitcoin is bitcoiners, they dump it when the price breaks records, and then it enters long bear markets. I don't see why this time it should be different. This isn't as big as 2008, and 2008 wasn't a complete collapse of banking.

Best method of dealing with addictions is going cold turkey. Meaning you just hard stop visiting the forum. Find some other things to do in your life. Especially the productive ones, like studying, working or sports.

You are right to recognize this problem, it's easy to spend countless hours reading posts to the point where it's detrimental to your life, because you are not achieving anything. And you absolutely don't need to spend hours every day on this forum to be a successful Bitcoin investors. All you need to know is how to safely use Bitcoin, and then just have patience and hold it for years instead of trying to trade it frequently.

Ethereum DEXes are popular because most tokens exist on Ethereum blockchain. So those DEXes represent zero useful economic activity, they are just tools for shitcoin speculation.


There were multiple attempts to do it. Like Open Bazaar. They failed because people are not interested in using Bitcoin as a currency today. They trade it and they hodl it.


Collaterized lending isn't very useful in real world. Especially with Bitcoin, the only collateral that can be implemented in a decentralized way is some altcoins via crosschain smart contracts. So this lending can only be a tool for shorting Bitcoin, and not actually giving loans to consumers or businesses.

No


They are entrepreneurs. Their #1 goal is making money. If praising Bitcoin helps them make money, they will do it. If attacking Bitcoin and promoting their shitcoin is more profitable, they will do that instead.

Besides, they never tell anything interesting or original. It's always "blockchain is the future, crypto is the future, buy my shitcoin before it's too late".

Satoshi was working on Bitcoin for years before the crisis started. It's a coincidence that by the time Satoshi was able to release the code and start the network, the crisis was in full swing. If you read the white paper, it's clear that repalcing the financial system wasn't the main motivation behind Bitcoin - Satoshi just wanted to make private money that can't be intercepted, seized, blocked.

Bitcoin can be very bullish now because of the hype, but this bullishness will not be fundamental if it's driven by speculators who will later dump at a huge profit. If people were exiting fiat for good and holding BTC for long term, that would have been huge. But there's no sign that it's happening now.

Bitcoiners sound a lot like marxists. Marxism teaches that capitalism is unsustainable and there will be one final economic crisis that will end capitalism and make room for communism. 170 years after the prediction was made, the world had economic crisis many times, and still no sing that capitalism will be replaced.

Now, Satoshi is not Karl Marx, he didn't make any prophesies or told that banking system must be replaced with Bitcoin, and yet Bitcoin fans proclaim exactly that. Every time something bad happens with the economy they expect Bitcoin to replace fiat and banks. And every time there isn't even a significant increase in adoption.

In 2021 global inflation started increasing and Bitcoin was rising and there was a narrative that Bitcoin will become a hedge against inflation adopted by institutions. And then Bitcoin crashed and institutions forgot about it. Something similar is happening now. A lot of hype that drives the price up, whales are buying to dump when the market will lose momentum.

If you buy now and sell a the top, you will make a lot of money. If you will keep buying and wait for $1M, you will be sitting on a huge unrealized loss when Bitcoin will inevitably crash.

In the past I sold and withdrawn tens of thousands of dollars from Binance in short time. Some of my coins are even linked to casinos. No problems with Binance at all. But like you said, exchanges are unpredictable. Who knows what can trigger their automatic account freeze.

But you shouldn't disregard banks too. Banks want to know where your money come from, because they don't want to get in trouble by serving dirty clients. If you use p2p trading it will likely raise more questions than withdrawal from exchange. Be ready to answer those questions and find out if your bank is crypto-friendly or not.

Bitcoin is not an investment by definition, because an investment is something that generates income. Like real estate that you can put up for rent, dividends of stocks, yield from bonds. Bitcoin and gold, collectibles and commodities are speculative assets that generate profits through price fluctuations. This doesn't make them worse than investments, it's just a different mechanism.

Some people are good at speculation, but most are not. You can easily get burned trying to trade Bitcoin, especially with leverage. Holding for years is a safer strategy. But learning about Bitcoin and surrounding technologies is not a great idea. It's not a high demand skill set. If you want to spend time learning, better to learn something that is already established and will be relevant in 10+ years. Like programming, AI, automation, data science.

When Bitcoin price falls, so does its purchasing power. If yesterday you could buy a house with 1 BTC, but today it's worth only half of the house, you have lost value. It doesn't matter that your loss is not realized and you can potentially get it all back, because here and now you are poorer than before.


If you are so sure that Bitcoin will go up and up, why not sell your house and your organs and anything that can be sold to buy more Bitcoin? That's only logical if you believe that Bitcoin will 100% go up.