Latest posts of: Shenzou

I don't think that the bitcoin it self that is redefining the systems, sure we can say that is a symbol and an example of what systems that we use should be like, the real system that is going to change our lives and should be used to replace all the systems, is the blockchain network, where everything is transparent and all transactions or deals or any interaction between tow or more individuals is visible and verified by everyone, so we eliminate the corruption that is shaded by the systems set by governments.

I think that the main reason that you mentioned that is the real demise of many people who are new to bitcoin and crypto in general, is they invest in it in hopes of getting massive returns and huge profits over a short period, they look at some of the people that have made millions from it and they except themselves to have the same outcome not knowing what they have gone through to get to that point, now with that idea in mind they start making wrong decisions that lead to them losing their money, so they key point is to go in the market not excepting a lot and not relining on it to get money, so that is why you should invest what you can afford to lose.

I have gotten lucky one day and i found a golden ring on the ground, i took it to the jewelry store and i sold it for a good amount, i took that money i bought something with it and the rest i have invested it in bitcoin, and effectively the money that i invested it grew by a lot, the point of the story is that even gold is a good investment but it is stagnant and won't get you any significant profit even if you hold it for years, so try investing it in bitcoin and crypto because they are the ones that generate good profit.

The reason why bitcoin is different to fiat and to many other cryptocurrencies, is that it has a limited supply that can be mined, and once that is done there is no more creating bitcoin, but as this supply is getting more and more low mining it becomes more and more harder, so in away bitcoin could be infinite if mining the renaming supply gets longer every time, and this is all affects the price the less the supply the higher the value if bitcoin gets.

Quote from: GeorgeJohn on January 30, 2021, 05:13:36 AM

Fiat and cryptocurrency are the same but people in society differentiate them and value fiat because its adopted by the government far back, and since the existence of the world and also a specific country, so from my research I find out that government just disliked cryptocurrency for nothing,
So differentiating fiat from bitcoin is valueless because irrespective the importance and massive adoption of fiat currency from its existence before cryptocurrency, it's obvious that fiat is money and bitcoin is money, their functions and contribution in society never depart from each other, so bitcoin now is the shortest way of transactions across the world without much process or procedures, using bitcoin everything buyable is easier to purchase without stress, so from my perspective I prefer bitcoin than fiat currency due to fast transactions process across another country, and nothing fiat can purchase bitcoin can't purchase, so no difference between both because all are currency.

You have to take in consideration that fiat is easily controlled by governments and every price change in it is planned and they can easily create more of it whenever they want, and because how bitcoin and cryptocurrency was made to counter that whole concept and bring freedom of choice to the people and that is what government are afraid of and that is why they hate bitcoin and crypto, and that is why we see some countries banning it

I don't think that bitcoin is going to reach the point where it is going to be used as a total replacement for a fiat, and that is due to the fact of the high transaction fees and the long time that it requires to verify it, if you want to go buy something worth 10 dollars you have to pay half of it in fees, cryptocurrency is inevitable and it is going to replace fiat eventually but it is not going to be bitcoin that replace it, maybe some currency made by the government.

I personally started in bitcoin since 2015, i was able to make a few satoshis from the internet, but i was only able to actually invest in it in 2017 where i got my hand on my first few paychecks from my job and i was able to save 2k that i invested immediately in bitcoin, and it proved to be the best investment that i ever made where in the same year bitcoin was able to reach 20k, and ever since that day every extra money that i have goes straight to bitcoin and crypto.

Quote from: fara_buduk on June 12, 2021, 10:29:10 PM

China's crackdown on cryptocurrency (crypto) trading is getting worse. This week, authorities in China's northwestern Qinghai province and a district in Xinjiang ordered cryptocurrency mining projects to close. According to Reuters, the Qinghai office of China's Ministry of Industry and Information Technology ordered a ban on new cryptomining projects and ordered existing ones to be closed in the province by Wednesday (9/6/2021) if this continues to see if prices will weaken again. ...

This decision may have a bad outcome on the price for the short term, and we might see more of it before it starts recovering, but this might be a good solution to many people's problem that they have with how decentralized the bitcoin mining is since china has been the number one in mining business for a long time, as for many mining companies that were located in china they have already made their plans of moving elsewhere because this ban has been going on for a long time and it is only now that they are making some harsh action about it.

Quote from: Zilon on July 14, 2021, 07:05:53 AM

I got the phrase "unlearn And relearn" from a forum member and decided to do something nice with it. Most traders start with good and constant profits but along the line the start facing heavy losses most of them are good analyst but can't maintain a clean trade. This has made many give up on trading some see it as a game of chance mean while trading is a continuous process which requires consistent studying and practicing. If as a trader you can't maintain a good trade sheet go do some newer research unlearn the process and relearn

It takes humility to excel in trading it's not a game for the proud because your student can become your tutor in the near future and some one you once showed a technique might have a secret you would need for a better approach. In trading team work too pays pretty cool expecially for starters get a trading mate who would join in analysing the market with you before placing a trade it would go a long way in perfecting your trade over time and also make you a consistent profit maker.

I think that most traders have this one problem, where they learn a new strategy for trading they try it out , it proves to be a success for a couple of times and they get profit from it, but then it starts going downhill and they start losing yet they still think that the same strategy will work, so people should consider learning from their mistakes and just like you said they need to unlearn and relearn new ways and new strategies if they want to make profit in the long run.

Probably the biggest mistake that people make when trading, is not learning from their mistakes, i personally have struggled a lot with this, i go in i put a trade i lose it reflect on why i made it and why i lost, i say i won't make that mistake again in the future but i always keep on doing it, sure we can blame it on the uncertainty and the unpredictable crypto market, but honestly we are our own demise and if we are able to conquer ourselves and control our actions, we will have more success.

Because of how bitcoin caused a lot of headache for not only governments but for people with interests that the success of crypto and bitcoin effect in a negative way, not only will revealing the identity of the creator of bitcoin will cause a massive disturbance, but he will be involved in massive lawsuits from various companies and it will be with no doubt that he will find himself in jail even if he is incent, so i think that when bitcoin was created he had some of these ideas and chose to remain hidden till this day.

I mean ever since tesla got a bit of acknowledgment and popularity due to the fact they are producing high efficient electric cars and made some massive profits in the process, other motor companies have started moving towards electric, and in the past two years i don't think i have ever seen so many electric cars being produced and promoted, and i am sure with this new deal we will be seeing even more transitioning towards electric from big car companies, so if tesla wants to survive they need to come up with something new.

Think of it this way, if you are day trading or even just trading from time to time in bitcoin or any other crypto, you are the one who decides the outcome of your investment, you are the one who is actively has an influence on whether to sell or buy at certain price thresholds, so you profit is kind of linked to how good of a trader you are, but with holding for a long term you really don't have that much of a choice but just to wait, so compared to trading you won't be making any significant profit.

Quote from: Forsyth Jones on July 11, 2021, 02:57:07 PM

Perhaps many don't know, but Steam accepted Bitcoin payments some time ago, but stopped in the same year (2017).

Do you buy Games paying with Bitcoin? Electronics, headsets, peripherals, etc. Paying with Bitcoin, LN or Altcoins?

I didn't actively use it to buy games, but i remember that the day it came out i tried to add balance to my steam account through bitcoin and it took a long time, i tried it once and due to how slow it was i never did it again, and probably i think that is one of the main reasons that steam took it down, and i remember that in 2017 we saw a rise in transaction time and fees, and a lot of sites that used to accept it as a payment method took it down.

Well it is true that there are some countries that are against bitcoin and crypto, due to the fact that they are unable to control it and manage the transactions that are happening so the easiest option for them is to ban them, and some others know that you can't stop progress and eventually crypto will be used by everyone and that is why they are adapting it and accepting it, and that is the first step, but in my opinion the whole point of crypto is to have freedom so having a centralized crypto that is controlled by the government is contradictory to the whole point.

You have to take in consideration that crypto mining is a decentralized, and not every miner is using the same energy and he or she is using clean or carbon dioxide emitting energy, so collectively sure you can count that the energy consumption is equal to 1% of the world and make a big deal out of it, and say that it causes environmental problems, but i can think of far more unnecessary systems and things that uses more energy and causes more harm to the environment in the process, do we need to think about alternatives ?, sure, but i personally think that this whole thing is just a way to spread negativity about crypto.

I really encourage your enthusiasm and your persistent, and to come to think of it there are a lot of unnecessary things that we spend our money on that we can allocate or it is better for us to invest it in other things like bitcoin, i like you started with trying to put some of my extra money and invest in bitcoin by avoiding all the unhealthy and unnecessary things, and now even though the rate at which i invest has gone down but it still do it it. and i encourage any one who wants to invest in bitcoin to do it.

In my opinion the real reason behind some of the statments that a bunch of these econimmest that give about bitcoin and crypto, is generaly because they wanna protect their investments, because if you think about it who is going to get hurt from crypto rising up and becoming more mainstream, the awnser is the banks it eliminates the need for them, and if crypto rises above all the other investments these poeple will lose money, so its in thier best intrest to talk shit about it.

I don't think that not investing in crypto could be classified as a phobia, investing in something is just linked to how well you are confidant that whatever you are investing in has a positive return in the future, you are not totaly wrong about the treatment, because if you want to avoid losses in any thing you need to be well informed and educated about it, and that is what makes the diffrence between somone who invests in crypto and gets good return and somone who loses his money in it.

With the nature of cryptocurrency and how annonymous it is , you would think thta people who would use it for no good would never get found and the criminals themselves would prove to be smarter than the usla ones that use fiat, but time and time again this is proven wrong with people getting busted for laundaring millions of dollars, it is a good thing to see the bad ones get caught but it also makes you question how anonymous using crypto is if it is at all.