There's a risk that if you are using a durable storage method, it can backfire. Consider a situation like a house fire or a flood or a tornado. A house gets destroyed, someone loots the ruins and finds the perfectly intact steel plates and takes the coins. While the owner is in the hospital or just wasn't lucky enough. But if a piece of paper was used, it would likely be destroyed.

The best security model is having your backups in different places far apart from each other. This is more important than metal vs paper.

Correlation does not automatically mean causation. Maybe they just happen simultaneously. Bitcoin goes up in the long run because of its scarcity, hashrate goes up because new ASICS are more efficient and more miners join the network. Of course there is some connection if you look at extreme changes - if Bitcoin was worth a fraction of what it is now, hashrate would have been much lower. But it's not like you can predict the price or hashrate by looking at the other at some very short scale.

I doubt that the market is bearish because of some fears over regulation, since there were no actual reasons to feel that way. Governments have been sending mixed and indecisive signals for a very long time, and this is still the case. Bitcoin is not banned in most of the world, and that's already quite a big achievement.

The market is bearish simply because it was too bullish in 2021 and the growth wasn't sustainable - it was a bubble.

Well if you keep your wallets in one place and if the malware works in a specific way, like keylogger or memory scanner, you could lose coins in all your wallets if they all got exposed to the malware.


That's not so simple, you can break your own privacy if you do similar transactions from both wallets. For example, depositing to the same exchange account.

You can't get rid of the spam, Bitcoin network can't distinguish spam from non-spam, the mechanism to combat that is the fee market. If people are willing to pay high fees for some stupid NFT use case, there's nothing we can do. If the community decided to make a hard fork and remove the unintentional NFT feature, that would create more problems than it solves, because it doesn't fundamentally address the fee market, and spam can return in other forms.

Cryptography and Internet enthusiasts have been trying to create a decentralized digital currency since the 90s. Those attempts had flaws and didn't get much traction, many even remained purely theoretical. But Satoshi built on their experience and used his innovation to create the first working decentralized electronic currency.

The people who wanted such currency dreamed about transferring money without restrictions, without interference.


Bitcoin is for everyone it does not discriminate, it cannot discriminate.

Adding "cryptocurrency" is a very bad idea. In 20-30 all of the coins that are popular today will be dead. Ethereum has some slim chance of surviving if it will manage to find at least some real users for its smart contracts.

Regulators should separate cryptocurrency and Bitcoin - crypto is like a penny stock, but without the chance of becoming a big thing, Bitcoin is like S&P 500. They are different asset classes with very different risks.

You are using "cash" and "fiat" interchangeably - that's not correct. Cash means physical fiat money, fiat encompasses all forms of government-issued money, including cash and digital money. I even count stablecoins as fiat, especially the backed ones.


It doesn't even matter that some crypto enthusiasts bash fiat and proclaim that crypto will replace it, this is not happening and very unlikely to happen. There is no momentum, crypto systems have too many flaws to make them a viable mainstream replacement of fiat.

You need money to make money. During the last bear market Bitcoin was at $7-8, the ATH was $69k. That's only 10 times increase. If a poor person managed to save $1,000 and executed the perfect trade, they would only have $10,000 which doesn't make them rich, it's not enough to even buy the cheapest house. And billions of people in the world don't have even $1,000 to spare. Plus trading is not exactly easy if you never done it before - a lot of beginners buy at some random point, experience a downturn, get scared and sell at a loss. Or take very small profits, nowhere near even x10.

People who got truly rich from Bitcoin are those who invested very early and held for very long and made x100 or x1000 gains. That's how you can turn thousands of dollars into millions.

From what they are supposed to safeguard you? They can't do anything about volatility. They can't stop exchange hacks.

Regulations can make some improvements, but they can't make the market fundamentally safe.


If some of the wallets are bad, people will use the good ones. Bad products exist in every market.

Because people are taking profits, if they bought at $16k or $17k, selling at $24-25k is a pretty good deal, making 50% profit in a few months is a very good performance. This isn't the big bull market that will break past the ATH, such market will come after the halvening, not before. So there's no big risk of missing out if you sell at a profit now, there's still plenty of opportunities to buy before the halvening. Although the safest strategy is to just wait now, but many traders like to perform these short-term trades.

Some DeFi protocols have master keys owned by developers that allow them to interfere with the system. Other DeFi protocols run on centralized blockchains that are not resistant to government pressure. Some DeFi systems might rely on other systems that can be regulated - like centralized stablecoins or banks.

And the word "finance" is too generous when talking about DeFi. It's not an alternative to centralized finance, because it does not offer full spectrum of services. You can't get a business loan through DeFi, or invest in government bonds, or get a stake in a company.

Banning algorithmic stablecoins is a good idea, history has shown that they are extremely fragile so a government wouldn't want their banks and economy engage with them, because in the end it will be government's job to bail out the banks.

And before people say that you can't ban crypto - in this case regulators wouldn't care if someone on darknet uses them, they just need to cut them from fiat economy.

There is no official motto, because Bitcoin doesn't need one, it's not a company or a shitcoin project, so it doesn't need marketing. Bitcoin devs are simply writing code, while shitcoin devs are more focused on promoting their creation before it can even work properly.

If someone tried to push for adopting official Bitcoin motto, I would be very suspicious of them, because it could mean they try to hijack Bitcoin.

Bitcoin is so volatile that it's impossible to say whether it was affected by inflation or not. We have the market data from 2021-2022 which shows that Bitcoin didn't react to inflation. So it's not a traditional hedge against inflation like gold right now. But maybe if not for inflation and the narrative of Bitcoin being digital gold, it wouldn't have gotten to the level we have today.

From this document it's absolutely not clear what kind of blockchain is being proposed. But basically there are two options and both are bad. Either you will create a private network owned and operated by the government, which would lack many of the benefits of decentralized blockchains, like censorship-free transactions; or you will try to put the database on public blockchain like Ethereum, which has problems with scalability and the total censorship resistance can be a downside for your use case, because it would be hard to undo errors or theft.

Blockchain hype has been around for 7 years. 7 years is more than enough time to show real results, real use cases - not talks about potential, pilots, trials, proposals.

I don't care about marketcaps, this market is not rational, people don't invest in cryptocoins like they invest in stocks - no one cares if the tech is actually working, if it's a realistic idea or not, all what people want are to see a big pump, dump at the top and move on to the next coin.

If you want to compare coins, look how many real world entities are using them. How many real businesses are using smart contracts and decentralized applications. And I'm not talking about some crypto casinos or NFT games or decentralized exchanges - those all are not real but merely another part of a "bigger crypto fool" game.

People who got bitcoins could have immediately sold them and people who got USD could have bought bitcoins with them. So I think there's nothing remarkable about Bitcoin transactions of the past.

And some people like to show Bitcoin price 10 years ago and today and then build a case that the same rate of growth will happen over the next 10 years. This is unrealistic, because Bitcoin market is reaching saturation, nowadays most of people have heard about Bitcoin, many have considered investing in it. Large bull markets that are responsible for most of Bitcoin's performance are becoming smaller and smaller if you look at the relative increase of their peaks.

Bitcoin will not increase your wealth by 100 times in a few years, and that's okay.

If that happens, Bitcoin will crash very hard, probably below $1,000. And after that it will become very unstable, there will be hopium-driven bull markets and crashes after new portions of FUD. Most of liquidity will be lost, especially if banks around the world crack down on Bitcoin trade. Miners will move to some small countries that didn't ban it, but those small countries don't have enough electricity to sustain the total hashpower, so Bitcoin will become more vulnerable to 51% attack, which will also contribute to price decline.

My strategy is to sell when there's a huge bull market that comes after the halvening, and I do it when it's clear that the market is very hot but starts running out of momentum. So selling now would be bad, because this is a small bull market that can go unpredictably.

And I never sell all my coins, I only take out enough to diversify my portfolio or achieve some goals. The rest are there for the long run. I also plan to reinvest some of my future Bitcoin gains back into Bitcoin when it will crash after the big bull run.