It’s the best financial advice, covid is the marketing keyword to remind you, if you don’t spend every last penny in the wallet, you can never have a chance to spend that again. Spend until you drop you plebs!
While your advice may seem logical enough, it is actually the worst advice you can give to anybody. What if you spend every last penny in your wallet and you didn't die thereafter? What then do you live on? What would you in cases of emergencies and you don't have savings to cater for that? Although, it is a fact that no one knows when he or she'll will die and once a person is dead, he can't spend the money he has amassed, it is still wisdom to spend wisely and know how to make budget for things necessary and cancel out unnecessary spending. |
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Buying Bitcoin is like planting trees. The best time to do it is 10 years ago. The second best time is today.
This is actually one of the most interesting analogy anyone has ever used for bitcoin. It simply captures the whole essence of bitcoin in just thress sentences. Just like the best time to plant a tree is 10 years ago, the best time to buy bitcoin is also like 10 years ago when bitcoin was still very low in bitcoin. If one had bought some 10 years ago, then one would be rich by now just by hodling. And just the second best time to plant a tree is today, so it is for bitcoin. The second best time to buy is today. Irrespective of the price of bitcoin today, it still has the tendency to grow even more higher. Take a sneak peek into the future and imagine what the price of bitcoin would be 10 years from what it is today. |
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Hey guys,
I have only been using Kucoin for a few months now and I wanted to know what the best method to cash out my crypto to USD would be? Should I trade it all to Tether then transfer to a USD exchange like Bittrex or something else?
Any help is appreciated.
Well, one of the major factors in determining how to withdraw from an exchange depends on the withdraw fee of each coins. Let me cite an example. There was a time I needed to withdraw some funds from an exchange. When I converted it to btc, I had to pay a fee of $19 which is quite high because it wasn't up to a hundred dollars that I wanted to withdraw. I, however, realised before withdrawing that if converted to XRP, the withdrawal fee is just 1XRP, which at that time is just some cents. Not even up to a dollar. And that was exactly how I withdrew the funds to another exchange that now paid me in my local currency. I already mentioned the other factor, the coin you'd choose must be one listed on the USD exchange so you'd not get stucked. |
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Bitcoin is a peer to peer electronics cash system while Agriculture is the production of crops and rearing of animals for man's use. I am a farm who is into subsistence and plantation farming in my country, but i find it difficult to use bitcoin to improve my farm the way others business men use bitcoin to improve their investment.how can i use bitcoin to improve my plantation farm? Does it mean farmers cannot use bitcoin to improve their peasant or plantation farm?
Kindly share your idea to help someone.
Just like several people already mentioned, the thread's title is misleading. It shouldn't be 'bitcoin vs agriculture'. It looked as though you intent to compare bitcoin and agriculture and see which is better. I wouldn't suggest a title. Several have been suggested already. Your question on how to use bitcoin and a farmer and how to use it to improve your farming business isn't a difficult thing to answer. Firstly, like the user above me mentioned, you must take time out to really understand bitcoin and how 8t works. Only then will you be able to maximise its potential and apply it in agriculture. You can accept bitcoin as a means of payment for your farm produces. You can include bitcoin in your company's investment portfolio. Investing in bitcoin and making profits after holding for some months to a few years |
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At this start of this year, there was a lot of hype about how high the price of bitcoin will get, some speculated that btc will set a new ATH of $100k before the first half of the year is over, others before the first quarter of the year.
This However has not been the case. We just passed the first quarter of the year and btc has not even gotten to $70k yet. Do you still think $100k is still possible before the first half of the year?
Although it is quite impossible for anyone to suggest bitcoin will hit $100k before the middle of the year, let's even assume for the sake of the argument that someone did say that. So what bitcoin hasn't hit $100k yet? Don't you think we should rather focus on how much growth bitcoin has attained this year in terms of its price? Don't you think we should celebrate how much adoption bitcoin has attained in the mainstream world? Don't you think we should be glad several top companies are now adopting crypto either as a means of payment or just adding it to their portfolio? Trust me, I believe bitcoin has come a long way and whether or not it hits $100k shouldn't be your concern. |
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All cases of hacking and theft have been as a result of direct or indirect carelessness on the part of the owner of the wallet. Cases of hacking are a result of users not keeping their password and seed phrases safe enough.
I believe no one can actually have access to anybody wallet except with access to the seed phrases or passwords. Many people don't keep their seed phrases in secure places and so can be stolen, so to say, and used to gain access into the wallet.
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The price of Bitcoin is hovering around USD 52K at the time of writing this article. In the last 24 hours, Bitcoin hit a bottom of USD 47K and has recovered since. Now you might be wondering if it is the right time to invest in Bitcoin. Here are the 6 reasons why you should: 1. Decreasing Mempool congestion: The current mempool congestion is said to be one of the reasons for the current fall in Bitcoin prices. While this might sound ridiculous, you can check and compare the charts of Bitcoin prices ( https://www.coindesk.com/price/bitcoin) vs. the chart of Mempool Transaction count chart ( https://www.blockchain.com/charts/mempool-count). While this congestion was at its peak between Apr 18 to Apr 24, it has since reduced considerably and we are already seeing Bitcoin price recover. When the mempool congestion is minimum we are likely to see the Bitcoin price rise. 2. Support price: The support price of Bitcoin has been set to around USD 48K-USD 50K by multiple exchanges and researchers (Refer: https://www.barchart.com/crypto/quotes/%5EBTCUSD/cheat-sheet and https://www.newsbtc.com/analysis/btc/bitcoin-makes-comeback-53-5k/). What this means is that when Bitcoin hits these price levels, people will be resistant to sell and large scale buying is expected. What largescale buying means is that the price of Bitcoin will shoot back up again. 3. Acceptance of Bitcoins by Corporations: Given that several large organizations are coming forward to accept Bitcoins as valid mode of payment, it is likely that Bitcoin adoption increases many folds. This is due to the reason that once these large corporation earn in bitcoin, to pay their suppliers, vendors or employees, they would naturally have to use Bitcoins. This increase in usage by itself would drive the demand for Bitcoin high. Further, on seeing large corporations accepting bitcoins, smaller organizations are likely to follow suit and same cycle would be followed by them. 4. Scarcity: While it is needless to say that bitcoin has always had the concept that it would remain scarce and that issue of new blocks would reduce over time, in the recent times, the amount of people engaging in Bitcoin mining has increased to such levels that miners get a very small portion of the mined Bitcoin. In this regard, one major pattern that I have observed is that every time that block rewards get halved the Bitcoin price slingshots to an all time high. This is is clearly visible with the Bitcoin price rising to an all time high in 2017 (1 year after halving in 2016) and now in 2021 (1 year after halving in 2020). Considering the above, I believe that bitcoin is likely to explode by the end of 2021 and break the current all time high again. 5. Increased HODLing: One more reason that I would consider is that there is an increased number of people who get attracted to the technology and concept of Bitcoin and therefore end up HODLing Bitcoin (like me) and would love to see their Bitcoin rise in value over the years rather than selling and making a quick buck. This would propel Bitcoin to higher prices without crashing. 6. Lost wallets: Around 20% of the Bitcoins that have been mined are locked in wallets (Refer: https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html). As time passes we could see a lot of people actually forgetting where they have kept the private key or seed phrase for their wallets (But ensure you keep them safe  ). This is eventually going to cause decreased supply in Bitcoin over the years and help maintain the increase in Bitcoin prices. While the above is my analysis of why Bitcoin should be purchased, please carry out your own analysis before you invest in Bitcoin. Further, while I have highlighted the reasons as to why Bitcoin needs to be purchased now, you should also consider various risks, legal/tax issues, etc. before you invest in Bitcoin. Would be happy to hear your thoughts on this. Thank you. I believe this is a careful analysis and I thank you for taking time out to actually make this analysis possible. I am sure with this, we now have more reasons to buy bitcoin. Personally, I do not really think a real bitcoin user needs the motivation of an increase in the price of bitcoin to buy bitcoin. The real users are those whose primary reason of buying bitcoin is not for profits, but to enjoy the freedom that comes with it. They are those who buy bitcoin in order to make anonymous transactions, pay less fees and wait lesser days for these transactions |
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It looks like China wants to stay ahead of the game by launching its own digital currency before the rest of the world does. If it becomes the pioneer of "Central Bank Digital Currencies", it might become the largest economy in the mainstream world. This means the US Dollar will no longer be the world's reserve currency, as China gains strength with the Digital Yuan. Low fees and blazing-fast settlement speeds will make China's digital currency much more attractive than existing currencies. If the US fails to launch the "Digital Dollar" before China, it could lose its supremacy over the mainstream economy. What are your thoughts? Will China take over the world with the Digital Yuan? Or will everything else remain the same? Do you think China's Digital Currency will force other countries to launch digital currencies of their own? How long do you think the transition will happen from paper money to digital Fiat? Your input will be greatly appreciated. Thanks in advance.  I am of the opinion that it is totally impossible for China, with the digital yuan, to take over the world. The Digital yuan, I believe, still has the same characteristics of the fiat yuan which makes it just like any other fiat currency in the world. What advantages does it have over the fiat currencies, being digital? You'd realise it has none. Someone mentioned that it is worthless to join and it can also be tracked. That means the freedom we enjoy with bitcoin and other cryptocurrencies cannot be enjoyed with the digital yuan. |
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I believe this is a really great development not only for the crypto community but also for the mainstream world at large. One of the limiting factors in the adoption of bitcoin is that it cannot be used as a currency. However, now we can see that that us changing. The fact that one can buy gas with bitcoin will help fast track the adoption of bitcoin and other crypto which is what every bitcoin users want. At this rate, I believe so much that it wouldn't be long before bitcoin becomes the number one currency in the world. |
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I think this is way expected in the long run. Think about this guys! Paypal has millions of users around the world since it was introduced to the public for more than 2 decades. I’ve been a Paypal user since 2009, but shifted to Bitcoin in mid-2017. However, I was still using Paypal for my monthly subscription such as Canva, Zoom, etc.
Paypal adopted Bitcoin and cryptocurrencies since last year, and it was really expected that there will be a gradual growth of the number of users who are using Paypal to store and trade cryptocurrencies. It was indeed beyond expectations, and I have no doubts that it will continue to gradually grow in the next few years.
I actually do agree with you that it's expected and it's what's meant to be. PayPal is giant company on its own and have quite a lot of users. With bitcoin, however, many of these users have a better alternative because many people want to pay less for transaction, want their anonymity and want to be free, so to say. So with adoption of bitcoin by PayPal, it wasn't necessary any more to stop using PayPal. This means that the number of users of PayPal would increase tremendously. I believe there will be gradual increase in the next few years and I hope you also know what this means for the crypto community. |
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I recently learned that there is one wallet in the world with 1 million BTC attached. Who do you think it could be?
I do not believe there's a single wallet that holds 1 million btc. Like many already pointed out, the highest amount of btc a wallet has ever held is 143k btc. However, it is possible that one person holds even more than a million units of btc by storing them in multiple wallets. You should also know that only person or people that could have that huge amount of btc would be either Satoshi himself or very adopters of bitcoin. As the current price of bitcoin, it's way to expensive to buy that huge amount of btc. |
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According to some cryptocommunity members there is a rumor that the Facebook social media giant might be holding Bitcoin on its balance sheet.  https://twitter.com/alistairmilne/status/1386953429814333441As one user commented, "I hope not, the companies that hold #bitcoin will probably survive the upcoming inflation." What do you think? While it is true that the certainty of the rumor is not yet known, I do hope that it is true. If a company as big as Facebook hold bitcoin in their portfolio, it means they believe in the potential of bitcoin and they've adopted it. I'm sure you know what this means for the crypto community. This would mean that, because of the large number of users, there would quite a lot of people who would adopt bitcoin and other cryptocurrencies. I strongly believe, whether true or not, that this is good publicity for bitcoin and other cryptocurrencies. |
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Hi Guys,
i have been in the crypto world for a little bit but not to long- bought first BTC end of 2017 begin 2018 (and some Alts as well) and sat trough the whole bearmarket.
Also have i thrown some money into shitcoin ICOs.
Since this bull market i tried trading a little bit (doing "okay" nothing special but its alright) as i have a job where i work often long and @#%*& underpaid hours i dont have the nerve and time spending my spare time infront of the PC to check the charts and do active trading.
Has anyone actually had some good experience with (right set up) trading bots?
If so can you recommend any - that would be nice!
Or have you maybe some warnings about risks and scams.
Thanks in advance for the answers!
Kind Regards
AD
The best and legit trading bot right is the Kucoin bot. It has a DCA and Grid trading which is perfect to newbie traders. It has built in suggested bot setup base on the price history of the coin so you can just use the default setup. So far this is the only trading bot that I know. The rest of the trading bot offered by a random user is most probably a scam bot especially if it is from a newbie or lower rank account. I've always believed all trading bots are scam and if not, mostly don't make profitable trades. I've had my share of experience with some of these bots and I've concluded that the best thing to do is learn trading personally and not depend on some trading bots. Trust me, many of these bots are made to help you make successful trades. However, I am open to trying things and I guess I'd just try out the Kucoin bot you mentioned above. I hope I'll find it as useful and profitable as you have recommended. |
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Business people must make a choice of strategies that are effective and realistic in determining investment activities.
IDENTIFICATION, namely analyzing profitable business potentials to be planned and developed.
FORMULATION, translating investment opportunities in concrete projects by explaining important factors in outline.
ASSESSMENT, namely analyzing aspects of the market, finance and economic conditions.
SELECTION, the use of a priority scale to invest using a specific analysis followed by the implementation of a feasibility study.
IMPLEMENTATION, to carry out business activities in accordance with the recommended alternative options that are planned.
I'm happy to thank you because you have highlighted the major steps to making a successful investment. Now, I believe beyond all doubt that anybody who is willing to learn investing would actually take time out to understand in depth what each of these key points really mean. However, just like the user above me mentioned, one important thing to know is investment diversification. It is true that one shouldn't put all his eggs in one basket. This may sound archaic but it still holds true especially in the world of investment. Not only does it help reduce the risk of losing all, it also makes sure there is multiple streams of income. |
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This is like the most interesting piece of news I've read today. What makes you think Bitcoin has got anything to do with being greedy? Isn't that some personal quality, though bad, that is in people individually. A greedy person is a greedy person whether it's with the most cheapest thing in the world or it's with the most expensive thing in the world.
There has always been human beings who are greedy and bitcoin can't change that. That we have greedy people using bitcoin doesn't mean bitcoin caused it.
That everyone is looking for a way to make some extra money doesn't mean everyone is greedy.
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That is actually the basic method of trading. In theory, it isn't so hard to make profitable trades by buying low and selling high. The only issue here is that it requires skills, knowledge and experience to know when to actually buy and when to sell.
As simple as buying and selling sounds, it is funny that it requires a lot of work. It requires the knowledge of technical analysis, that is how to read chart patterns that form in the market. You also need to understand how fundamental analysis work. How certain news can affect the market whether positively or negatively.
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I strongly believe the Bangladesh government should know better. I hope they realise soon, just like the Vice-president of Nigeria, that bitcoin and cryptocurrencies at large is the goose that lays the golden egg.
I hope they will realise soon enough that they have been going in the opposite direction while world is moving forward. They should know that usage of bitcoin in a country can help improve the economy of such country and this is exactly what it is needed in a country like Bangladesh.
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It's super amazing to see another major company adopting bitcoin and even buying it to add to their portfolio. This is an interesting piece of news especially for the crypto community.
Quite a lot people believe bitcoin is a giant bubble that's going to crash and end one day. However, this is a very concrete evidence that that is not true because even major companies are adopting it. It's quite funny that it is those who don't have much to lose that are rejecting the idea of bitcoin.
Nevertheless, I do believe that many companies will follow in the footsteps of Nexon and start adding bitcoin to their portfolios.
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Well, there are countless crypto trading apps that you can download to make trades on phones.
Actually, it is way better to do your trades on the system because it is easier to articulate your movement and all.
However, I do believe that FTX mobile app is one app that actually made trading on phone way easier than what we've known it to be. I think you should download the app and experience the true experience of app trading
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Tesla takes profit from crypto investment and some stupid people aren't even bothered, like I always say even billionaires who invest in crypto are here for the profits no matter how long they chill and hype the coins, be smart people
There is a particular thing you should know. Many of those (in fact more than 70%) who got into bitcoin and cryptocurrencies at large did so in the bid to make profits. So I find it not surprising that even Tesla made that much profits just from crypto. It is, however, possible that the sale of crypto isn't just from bitcoin alone. There might have been some other crypto in their portfolio. In addition, it is noteworthy to know that Elon Musk shouldn't be confused with Tesla even though he owns it. |
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