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Good for him if he's actually able to back this promise up. But at the same time I don't really hope for much especially when the whole country's against cryptocurrencies in the first place. Plus I don't think this is a strong platform for him to use since there's no real benefit for US to back themselves with a speculative asset like bitcoin, if anything the same thing that happened with El Salvador may happen to US if they were successful at implementing this stupendous promise.
At the end of the day, it's not about bitcoin backing the dollar and all that shit which will solve the issue of America and its economy. It's how they carry themselves, as well as the abolition of the exploitative capitalistic model that they've since adapted that will solve their economic struggles.
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The topic has said everything so I want to know the different opinions from forum users. I have done the physical interview with some people and I have seen the different mindsets of people for seen money on the floor or somewhere in their working places. There was a story in my locality this week. A woman who is working in a hotel, found $70,000 in hotel room she working and with her good heart, she returns the money to the customer. Now the question other people asked was if the didn't know the person what she would have done? If you were in the woman's shoe, what would you do? Or if you see such amount as bitcoin in your working place with the seed phrase in aseed plate, what will you do? And probably you know the person and there is no way to locate the person. But if I am the one, I will also do the same as the woman and if I don't know the person and I can't locate the person, I will take to the nearest Radio or Television Stations for Broadcasting, or if any of the above can not be found in the locality then I will handover them to the police. Good Name is Better Than Silver and Gold I love my Name to be good A lost wallet with no whereabouts regarding the seedphrase or keys is useless and is basically a very expensive paper weight. If you'd be willing to carry that around you (when some of these wallets even have trackers with them now) you're basically just risking yourself. So it's best and wise to surrender it to the owner or something. As for money it's a different story. I understand that you're trying to be morally right here and all that but at the same time, $70,000 is still $70,000, so while I do not know personally if I'd surrender the money or whatnot, there will definitely be some internal dilemma that I'd be under of lol. And while you're right, a good name's great and all that, you also have to realize that there's no upsides to being poor lol. |
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Honestly speaking, a population of a country is its strength, but at the same time if you can't pull off the perfect strategy for caring, educating, and empowering the people, they'd become a liability. Look at Iceland and countries with low population for example, they are prospering not because their resources aren't getting dried up easily, for one Iceland is living in the far north which I didn't have to tell you, is comparably shitty when it comes to resources. They succeed because they know how to care for the people and educate them, so when they actually go out there and find work they don't go to other countries to enhance their economy, they work straight for their homeland where they become powerful tools of the workforce and the economy.
Compare that to a country like the Philippines, who's one of the most populated countries in Southeast Asia, they aren't flourishing no matter what, even though resource-wise they are the most rich out of all countries arguably. They stay stuck in the third-world due to poor governance and stone-age outlook at looking out for people. I kid you not when I tell you that they still don't have a concrete subject for Sex education which further increases their rate of teenage pregnancy and HIV cases.
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So it looks like Kuwait has decided to ban crypto payments, investments, and also mining. The reason? is the usual: Kuwait has prohibited the use of crypto for payments or investment to combat money laundering, according to a circular by the country's financial regulator issued on Monday.
As the article states, any violations of the prohibitions would result in penalties. I personally wasn't expecting this, especially with their neighbor (UAE and Bahrain) doing the total opposite. Meh. Not really bitcoin's problem at this point. Countries that are way well off than them are choosing to allow bitcoin in the country and they aren't, so if shit hits the fan and they come back reeling for bitcoin then that just means that we're really telling the truth yeah? I feel like I'm going off into a tangent here but basically saying that countries can go about banning cryptocurrencies all they want but people are seeing the use and benefits of it and you can't really stop what's already taken traction. In the case of bitcoin and illegalizing it, what are they going to do? Throw every bitcoin user in Kuwait to prison? Unlikely. They're doing this to spite other countries and to probably gain sympathy from others. They'll realize this is not the way soon enough. |
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Guys am I the only one having problem shifting my attention into another business like whenever I want to try a business with the money that made from bitcoin I always feel distracted and I don't like it. It's like a distraction to me.
How are you guys running two business together? If the hustle isn't online I don't like it, I have few asic miners that I use to mine Bitcoin and I monitor the farm every day, I also gamble online too, I am also a big crypto investor, I am convenient with these.
yesterday friends came to me and we have some discussions about businesses, they advise me to invest some money into raring of cattles, I know how profitable the business is because I know those who are really into this and they are doing fine, I'm not ready to enjoy it because I enjoy online hustle than others, the world have called me freak for going down this path but it favours me and I am a living proof.
My end goal is retirement through Bitcoin, I have no other dream than this, and I am not a dreamer but a doer. We all have a favorite subject in school for a reason, Bitcoin is just mine. Out of school though.
Not a problem at all. When the thing you're looking to make money out of is already stressful in and of itself, the least you could do for yourself is find a craft that you will be invested in and passionate about. Plus being passionate/interested about the business you're trying to build will give you some advantage in a sense that at the very least you know how the regular customer thinks, especially if you're working on a business that supports hobbies like collectibles and all that. As for running two businesses together, I would highly suggest you look into partnering or getting someone else you trust involved in the process as this will streamline your inner workings and the labor between your first business and this second one you're working on will be divided. |
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Ok, good day fellas, someone brought up an idea for storing his Electrum recovery seed to my notice and I feel it's not entirely still safe and I will like to share here for some feedbacks before I tell him my final answer about the idea.
If you get your recovery seed from any wallet, either those with 12 seed words or 24, and you decide to write down 10 out of 12 or 20 out of 24 and keep the other two words separately somewhere else, how stupid or cool is this? He claimed he will keep the two words in a safe location different from the other words and also store the two words off head.
Give your answers please, stupid? Cool? Not great? No need?
Not a great idea if we're talking about a regular human being whose memories become fuzzy after 3 hours (it's true). he might misplace stuff and it's already tough choosing which words to leave out and which words to include but whatever. Provided that he is able to memorize the words and all that, or at least remember where he placed the notes I'd say it's unnecessary too. Everyone else who could've gotten to your seedphrase will have already been able to acquire it over the internet, and those who aren't will never do, so I think this plan of his, while I consider smart and something out of a movie film of some sort, doesn't really account for the digital threat that looms over the corner. Props to him still, but there are smarter ways to protect your electrum account. Some of which you don't need to inconvenience yourself that much. |
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Yes, I am complaining that people are not nerdy enough. It's been 14 years since Satoshi published his white paper and the vast majority of people still don't understand what Bitcoin is and how to use it. Sure there are many people buying Bitcoin on crypto exchanges and speculating on it.
However, the average guy on the street that I speak to, and even many people on crypto forums still don't understand Bitcoin's potential as a virtual commodity, or it's potential to create an alternative to Fiat economies. Maybe the problem is deeper than just a lack of understanding about the technology? Maybe it's a lack of understanding about economics as a whole? How many people are economists?
I understand that my frustration might be due to the fact that I am coming from a very privileged position. What are your thoughts on this?
OP out here really frustrated that he can't talk to people outside about bitcoin and crypto lols. Jokes aside it could be frustrating, cause with all these movements and campaigns made about bitcoin's adoption you would think that we made significant progress on it, only to be disappointed when you ask people around, especially those within the ranges of Millenials to Boomers (cause in my experience a lot of zoomers right now are at least aware of what cryptocurrencies are and the potential for profit that they could provide) that are still not aware of what bitcoin is and what it could do to people's lives. At the end of the day I just think that good things come to those who wait, so might as well wait and be patient about it yeah? |
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sorry，I come from China，The following is translated by machine ，My brother has leukemia. I have already owed 30,000 US dollars. But my brother still hasn't improved. I finally got the bone marrow last week. The doctor said it would cost about 75,000 US dollars. My total assets are about 3,000 US dollars now. If I want to treat my brother. Is it too late to buy btc now?thank you
Sorry to hear about your current problem and we only wish we could do something for you right now buddy. But as it stands today there's no way bitcoin could help you with that. Money is quick in this industry but not that quick kind sir. Plus the risks that come with investing in cryptocurrencies especially during times like this may even leave you with less money than you came up with. I would highly suggest you check if there were opportunities for your brother to avail of his insurance if he has any, or if you guys could be covered by government assistance which I believe is something that all countries have anyway. I hope for the best for you and your brother and just know that if you're telling us the truth (which I believe you do), the whole forum is with you and your brother's recovery. |
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The earlier we understand that bitcoin is not for everyone, the better because it saves us the time and energy that we would have used to convince those who are uninterested, to move on to those who are interested and it can also drive adoption faster. I've read some threads here of some people trying to convince their family members on the positives of Bitcoin and get enraged if the said members don't share the same opinion as them but I feel everyone is entitled to his opinion and while some regard Bitcoin with outright disgust like Charlie Munger, there are some who care less of it's existence.
Bitcoiners have the opportunity to stand for something and that's eliminating the need for central authorities such as the government and banks and rather than forcing everyone to confirm to their beliefs, it's better to find an audience worth serving. What's your take, guys?
I would agree. There's just some people that can't be convinced no matter what we do, and that's okay. I share the same sentiments with you to regarding people literally on the verge of disowning their parents/families just cause they don't agree with bitcoin and all that lmao. At the end of the day bitcoin's not gonna come out there and help you sign the papers in case shit hits the fan and you find yourself in the hospital. Plus they're your parents so at the very least despite not sharing the same opinions treat them with respect and honor, cause you're not gonna be able to blabber about bitcoin and all that if not for them anyway. End of the day, convince people and don't stop with the movement but learn to set boundaries and respect them especially for people who are really indignant with choosing not to adopt bitcoin ya know. |
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Bitcoin is often referred as "digital gold" due to it scarcity and decentralized nature.because their will only be 21 million Bitcoin in existence which gives it scarcity and makes it resistant to inflation.this limited supply to achieve through a process called mining,where new Bitcoin are created at a decreasing rate over time.bitcoin is decentralized because it operate on a network called Blockchain,which means it's not controlled by any central or government.similary,gold is not control by any entity.
referred, but not considered, there's a difference between the two. In my honest opinion, I'd say bitcoin is much scarcer than gold by a longshot. Although highly unlikely, an asteroid carrying 10 trillion dollars' worth of gold could come crashing down on Earth and its existence will significantly dilute the gold's supply and value as soon as it is processed. Not to mention the fact that, at least in physics you can manufacture gold. Bitcoin on the other hand is immutable, turn the whole planet and internet upside down but there's no way we could change the 21 million supply once it is set in stone. This is apart from the fact that every 4 years the supply is getting deflated too, which doesn't really happen with gold as far as I know. So perhaps bitcoin shouldn't be called "digital gold" anymore, perhaps we should start calling gold "physical bitcoin" yeah? lol. |
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The merits of having a local currency is the convenience and show of power against other countries. It's also a standard that determines whether a country's economy is good enough, which will drive investors and companies to put in money for businesses and enterprises within that country. Many people see fiat as "toilet paper money" since we've been dealing with bitcoin for a while now and while the latter is superior, you can't say that fiat doesn't have its own merits. This only applies to countries with national currencies though so as for France who has 80, I don't know what the fuck is going on with them lol but if I had to guess it's just the old system clinging to life and relevance since they are getting curbstomped by other more powerful currencies.
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I've been following the development in the UK in line with cryptocurrency for a while now, and I must say that I'm not so happy about most of the things I read. The hypocrisy of that nation is much, they could have just announced to the whole world that they've banned crypto instead of making life difficult for crypto enthusiasts by introducing unfriendly rules and preventing businesses around it by blocking exchanges and other business initiatives with sanctions. Of course, it's not all their financial institutions, but once the strongest are doing so, how long would it take for more issues to arise?
Why UK banks are blocking transfers to and from crypto exchanges
As of 2023, many UK high street banks are blocking payments to and from major cryptocurrency exchanges such as Binance and Coinbase due to increased security concerns post the collapse of the FTX exchange.
Can you imagine? Banks claim to be blocking people and businesses because of the FTX collapse. How many banks have they stopped because of the ugly past of many UK banks that went insolvent? The problem of one establishment out of many should never be a yardstick in judging others. For me, these banks are anti-crypto and their actions are high level of hypocrisy. Isn't Rishi someone that's a proponent of the cryptocurrency movement? Why is it that it's still something that's being talked about up till now? Is the monarchy actively opposing them? What gives? Crypto in the uk is big business. My website is crypto related and a vast majority of my visitors are coming from uk. I think when given the freedom to choose to use crypto, people will choose it irrespective of the rules and regulations surrounding it. If you google crypto in uk, you will get this result showing you all need to know about crypto in uk. https://sumsub.com/blog/all-you-need-to-know-about-uk-crypto-regulations-2023-guide/ . So you mean to say that even with all this shenanigans of "UK going against the concept of crypto" going on, the whole country is pretty much cool with it? well that's good enough and I expect of that cause UK's outright one of the biggest cryptocurrency movers in the whole planet, and all this time I thought everything was going fine and dandy there cause Rishi's a cryptocurrency proponent and I had hoped his sentiments trickled down to the rest of the country but as it sounds today it feels like everyone in the upper echelons of the UK government is dogging on it. |
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Nothing comes close to being what bitcoin is & what it offers humanity, both now & in the future. Bitcoin is the single, greatest monetary innovation of our lifetime. Some people will profit handsomely from alts but no altcoin can compete with bitcoin as a combined package.
While you're correct and I would agree, It is only time until a more capable cryptocurrency comes up from the ringer and beats bitcoin out of the top spot at least in utility, market cap-wise it's a tough opponent to best I would say that much, but utility and overall popularity, it could be beaten with a token with proper utility and popularity and since this industry moves so fast to innovate it's not gonna be surprising to see projects out there creating the next bitcoin-killer. Anywho, it's part of an industry that relishes on innovation, sometimes projects that do not provide the best interests of the people contemporarily, regardless of their stature in the market are left in the dust eventually for a project/token that's more useful. |
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I have read some interesting stories of few members on this forum that did all they could to buy their first set of BTC years ago and also how they made it through the journey, but one thing that I found missing from those stories is a secured job..
Newbies or Beginners, who are aiming to start buying Bitcoin for future sakes, I want you to take this advice very seriously, do not start your Bitcoin investment living under a roof that still feeds you, it could work but it will make things to be more difficult for you.
When you don't have anything else to fall back on, after asking your brothers or sisters in the family to give you some money for investment, what will you do when you get the Bitcoin? You need to live, you will have desires to buy things, and you will panic if the market move downside even more..
All this will happen because you have no job secured, as a beginner, before investing in Bitcoin, make sure you have a job or source of income, it will make the journey of accumulation to be easier and less bothered about the market behavior.
Pocket money, or the money that someone gives you will only bring you unrest mind if you plan to invest with such money, it's the type of money you are not ready to lose, because it's all you have, because you have no other money coming from else where.
You don't need Bitcoin first, What you need is a JOB, work on that first.
While I hailed from a poor teenager living under my parent's roof underaged so I couldn't really take up a job especially in 2015, I would say with 100% diction that it's really imperative that you get a safety net when you make investment choices like bitcoin. The worst that could happen is, well you won't have a problem with the money cause you didn't put it up on a debt, the best is that the money is all yours with no one holding you back. I loved giving back to my parents, they were good and supportive about my craft and all that don't get me wrong but I believe some of us here live in situations that are a little less fortunate than mine, so for your peace of mind it's always best to just find a job, and use it to fund your investment portfolio instead of asking for shit. |
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It's not an unknown strategy. A lot of people grew money from this technique but in the same note I don't really recommend this to everyone cause first off, you have to have people you trust. Plus points if you have friends, and God only knows how many of us here have gone long enough outside to get friends we'd trust with our money lol. Kidding aside though, Another reason why I don't suggest this to everyone is the mere fact that you're entrusting someone else with your money, meaning you have someone else to blame when shit hits the fan and your investment tanks. It's better to take full responsibility over your money so you have full power and accountability over it. Otherwise if you're not quick to anger and you're willing to share the profit or the loss with other people, then by all means take the pooling method.
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There's following your passion that will lead you to wealth, and then there's following your passion when it only conveniences you.
There's no doubt the people you mentioned here, and a couple more unsung ones achieved financial freedom if not complete wealth from following their passions. However, they did so with discipline and a thirst for success. If you don't have those things with you and you're going for your passion in search of profit or catharsis, that's not a passion, that's a hobby. Honestly, nothing bad about having a hobby every now and again but things aren't getting any easier for us Average Joes out here, inflation biting us in the ankles, quality of the environment going to the shitbox, to name a few. Only resolution we can achieve is actually paying our way into a better life, which in my experience couldn't be achieved by slaving away your life to your regular 9-5, so there's that.
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Let me say that Bitcoin has taken it stand and theirs no point of carrying out campaign of Bitcoin like before or imposing Bitcoin knowledge to children which we know that with time those children you are trying to teach bitcoin will know of Bitcoin through a social media. I have come across so many topics pointing at teaching children bitcoin why Bitcoin has already taking space of it own as decentralized currency. Do you know that with the awareness of Bitcoin now you don't need to convince somebody to invest in bitcoin, why before you have to convince people to invest, bitcoin is now a choice of investment which anyone who invested will Google out the process of investing through internet direction, I love to say Bitcoin has plant itself with internet dispensation of information.
Learning is a continuous process
While you're right about Bitcoin's prominence in the popularity sector, you should understand that well, there's no hurt in pushing to get more people who believes in bitcoin. Plus as it stands now popularity alone wouldn't keep bitcoin alive and running, we need active and meaningful communities (at least in my understanding) for bitcoin to continue prevailing. If we let complacency drag us down now bitcoin would be dead before we even know it. |
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Do whatever you want with your private keys, just do not store it in a notepad file on a system connected to Internet or in your emails or in any place which is connected to Internet.
Make sure your private key stays offline. Register it down or write it down and store it in a locker. Also, do not ever store your private keys in a phone app which says it will keep it protected.
Anything that is connected to internet can surely giveaway your private key. Making an encryption like this and storing it doesn't save it either. Someone will crack it down.
Exactly. Nowadays people overcomplicate security when all they really have to do is make sure that no one gets to it that you don't allow. You don't want to write it down or you're too lazy to type it out letter for letter so you don't want to use a paper wallet? jot it down to a notepad and save it on your local hard drive. You're a nerd who wanted to make sure nobody really gets into it? By all means buy one of those overpriced cold wallets if that's what will make you feel safe. Just don't save it on OneDrive, your personal email, or your personal DMs on FB and Twitter or whatever social media you usually use. Do this and you're safe from anyone who's trying to get a hold of your coins no problemo. |
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As an investor, I'd say that I prefer the bull run better than the bear market. Gives me more opportunities to grow my portfolio, saves me from problems as most cryptocurrencies in the market are going upwards during those periods, and there are an abundance of profit in the industry, you just need to find the right tokens to take up. However, as someone who have built and developed stuff for this industry, I say that if you're building or developing something, it's best to do so during the bear market. There's no pressure to release it right away, leading to your project coming up as best as it can be, lower fees and you pretty much have all the time in the world cause you're in no rush. Plus, you have the opportunity to release your project soon as the bull run arrives, which gives you the prime leverage to pick up funding and all that important stuff.
I say that these two periods in the industry are beneficial to different groups of people, having experienced both, I don't particularly prefer one over the other, but for all its worth it's really nice getting money so I'd choose bull over bear.
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It's been over a year since the war began and it's quite shocking that the war has lingered this long. No one predicted the longevity of the war. But this is where we are and as it seems with all the unfolding drama the war has brought to the Russian economy and military, things might longer than we expect.
Looking at the effect the war has had on the Russian economy, I think it all struggled at the inception of the sanctions placed on them by the U.N, U.S, U.K and other powerful countries. However, things have flipped dramatically in favour of the Russian government to some extent as they have been able to form some sort of economic alliance with top energy producers globally including China and Saudi Arabia. These moves have to control favour the Russian government in the area of energy supplies and this stabilised the Russian economy.
More interesting developments may unfold. So, let's expect more twists...
Actually predicted this to drag out for long until one side relents and quits cause there's no way they'd both give up their stands. Russia's living in their delusional world where they think Ukraine's still part of them while of course the now sovereign state of Ukraine is fighting for their freedom. Economy can wait, they have allies that will help them fund and further their battle, plus at this point in time Russia's already forcing a huge portion of their male population to sign up to this needless war, so manpower wouldn't be a problem to them. Just a few months ago I saw some news about Saudi buying Russian Gold, there's that too, plus a country which I forgot was also found to be financing the war on the side of Russia, there's a lot of things that are causing this war to drag out this long, it's not a matter of when they would stop, it's a matter of how. |
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