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521
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Alternate cryptocurrencies / Altcoin Discussion / Re: 24 eth instead of 24 usdt....What Will You Do If.......?
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on: October 24, 2020, 04:14:41 PM
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Greetings bitcoiners
I asked this same question in one other crypto forum but am yet to get answers, so am bring the same question here for your opinions and thoughts
So for example, you sold an altcoin for usdt in one of this semi decentralized exchanges that claim to be fully decentralized, you sold your altcoin and got a total of let's say 24 usdt, you then place a withdrawal of that full amount, instead of the exchange sending you 24 usdt, for some reason you and I don't know, they sent you 24 eth instead.
So my question is.. What will you do? Will you return the money?
And note.... This is not fictional, it happened for real to a crypto friend of mine.
So let's discuss.
In a situation such as this, one is faced with a very tough decision and it is only one's moral and religious standard that best influences one's decision. 24 ETH, about $9000, is a huge sum of money in my country. Personally, I will return it not forgetting how difficult that would be. I, however, think I should get a compensation fee for returning the money. I'm sure not everyone would return such amount and I should be praised for doing that. |
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522
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Bitcoin / Bitcoin Discussion / Re: Thinking Bitcoin is Scam
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on: October 24, 2020, 02:48:48 PM
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It's absolutely normal for people who are ignorant of what bitcoin really is to claim bitcoin is a scam. They obviously do so simply because they are not aware of its advantages and the benefits it offers.
One should also note that some of those who claim bitcoin is a scam are those who bought when the price of was very high back in 2017 or so and sold panicky thereby losing money. They must have thought "this investment is a scam, I lost money"
However, it is an fact that bitcoin is not a scam. Bitcoin has been for more than a decade and revolutionizing the financial system of the world one step at a time. Sooner than later, bitcoin will be adopted massively in the mainstream world and eventually even those that see bitcoin as a scam will admit it is real and genuine
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523
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Bitcoin / Bitcoin Discussion / Re: Slow adoption and decentralized nature of bitcoin
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on: October 23, 2020, 08:22:09 PM
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This post was inspired by tweetstorm https://twitter.com/Beautyon_/status/1179057801706065920The author of the tweet argues that in order to use bitcoin, people should not be required to know or comprehend theories and technologies on which bitcoin is standing. He claims that for bitcoin to be successfully adopted, it needs to be simplified to such extent when people don't bother to know how it works, why it works, what purposes it was created for, etc. At first glance, it seems reasonable to make bitcoin more simple, user interfaces more convenient, the cost of onboarding onto bitcoin a bit lower. Undoubtedly, it all will lead to a faster adoption of bitcoin. But. Bitcoin is digital money. Unlike iPhone or SmartTV (examples from the tweet), it needs to have certain characteristics to be considered so. More importantly, not only does it need to have certain characteristics, these characteristics should be continuously sustained by participants of the network. The more decentralized the network, the easier to keep it robust and valuable. If it were centralized, it woudn't be robust and valuable, it would be shut down already. Decentralization is the key factor. Now imagine the situation in which bitcoin is being adopted only by uneducated who have no idea how bitcoin works, who don't think too much about decentralization and necessity of sustainability of characteristics, they don't even know why they are using bitcoin instead of fiat! If they don't know what full node is, they will not bother to run one. Decentralization is gone. Bitcoin is gone or less valuable due to decrease of decentralization. Faster adoption is bitcoin's demise. What should we do? Should we learn bitcoin or not? Should we promote simplicity and avoid complexity? Can bitcoin continue to exist if majority of people don't want to be taught about importance of bitcoin and ideas behind it? This is an interesting piece. There's a saying that says 'when the purpose of a thing is not known, abuse is inevitable'. If people didn't care to learn or understand what bitcoin is all about, it will become abused in no time. Everyone needs to understand that what makes bitcoin what it is, the major ones which are decentralization, anonymity and transparency. So to answer your questions? 1. Yes, we should learn bitcoin. Anyone who would count as a user of bitcoin should take time to learn what is what. 2. As much as simplicity should be promoted, it should be done in a way that doesn't neglect the core factors of bitcoin. We should find a way to strike a balance between the two. 3. Yes, I believe bitcoin will exist. It has been existing for more than a decade now with only a tiny percentage of world's population aware of it. So I do not think it will be affected by majority learning or not. |
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524
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Economy / Economics / Re: In COVID-19 everyone needs motivation
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on: October 23, 2020, 07:29:43 PM
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I think this is every worst situation for all, especially those who are suffering from the pandemic, so we have one option that is to find a way to turn it into positive.
Many died as well, lost our jobs, our businesses and everything, so we really couldn't say it's a blessing. But in this condition, we should just look forward and think about of next-generation future. otherwise, our upcoming generation will also suffer as now we are facing
Absolutely. Everyone needs some form of motivation to get through these trying times. Although the pandemic is very bad, causing the downturn of several countries' economy, causing the death of millions, making quite a lot of businesses shut down, it has actually opened our eyes to several other opportunities which we most didn't think of. Many have resorted to working from home just because businesses have shut down thereby making money in ways they didn't even think of. Health wise, many become safer by practicing the Covid-19 preventive guidelines. It even benefitted the crypto community. Many users became traders to make money by Trading from home. A lot of people became aware of the numerous advantages and benefits of bitcoin and other crypto only during the pandemic. |
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525
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Economy / Gambling discussion / Re: Bitcoin sportsbook bonuses
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on: October 23, 2020, 06:42:48 PM
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You can easily find sportsbook with welcome bonus. It's one major way of attracting customers or clients to their sites. Most if not all sportsbook have welcome bonuses ranging from a few percentage of the deposit to as high as 400%.
However, you should note that if your deciding factor for choosing a sportsbook is the welcome bonus, then you're liable to fall victim of scams. You should know many of these sportsbook have promised very huge welcome bonuses only to turn out to scams, freezing the accounts with funds.
I'd advice you consider withdrawal fee, the minimum withdrawal amount and most importantly the reputation of such sportsbook on forums like this before you make deposits with them
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526
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Bitcoin / Bitcoin Discussion / Re: Do you think this is the start of mass adoption in Bitcoin? or Nah?
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on: October 23, 2020, 02:20:12 PM
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PayPal Will Start Accepting cryptocurrency such as Bitcoin BitcoinCash Ethereum and Litecoin at the beginning of early 2021. Many users are taking this negatively because Paypal is Centralized But in my opinion, this is better than using a third-party P2P platform if we will talk about PayPal to Bitcoin trade this is a common trade that scam happens i experience it before when i need to pay in some website where they don't accept bitcoin i sell my bitcoin in the third-party P2P platform the scammer chargeback in PayPal and i never get my bitcoin back even i don't plan to use PayPal anymore i don't a have choice because this is a platform that almost accepted everywhere but it will be different if i can put some bitcoin in PayPal instead and trade it directly on their platform we all know and need to accept the fact that we cant use bitcoin everywhere with paypal adoption bitcoin have a higher chance of merchant accepting bitcoin independently Not your keys, not your coins are one of the reasons of some users but holding bitcoin in PayPal is optional the same in exchange and other centralized platforms. only put what you plan to use, trade, or afford to lose. Do you think this is the start of mass adoption in bitcoin? or Nah? I believe PayPal accepting bitcoin is a very huge boost for the mass adoption of crypto in the mainstream world. I saw a thread similar to this yesterday and I mentioned there that PayPal is a big company in the financial world and their reputation precedes them which makes people trust them. Trust me, many will adopt bitcoin now simply because PayPal endorses it since accepting bitcoin means they are accepting it I however hope that their transaction fee is as minimal as possible so as not to chase many of those they'll win over. I think it is all good for bitcoin if centralized institutions like PayPal accept bitcoin and other cryptocurrencies |
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527
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Bitcoin / Bitcoin Discussion / Re: We don't do it in Bitcoin!
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on: October 22, 2020, 09:33:34 PM
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"Plane passenger caught smuggling gold nuggets in rectum to avoid taxes." - nypost.comIndian airport authorities literally struck gold when they spotted a man walking oddly — and discovered he had about 2 pounds in bullion shoved into his rectum, according to a report.
This is really disgusting when I first saw the headline of this news. Honestly, it's my first time to hear a news like this, since I thought I this is only happened in movies (some of in the movies are illegal drugs) or some happened in real but not gold. Recently, this news became a little trend everywhere where they compare Bitcoin with Gold on this kind of situation, we all know Bitcoin is intangible, where it is not a physical. Since when you do it on Bitcoin, you don't need some physical things to shoved in your rectum or in any of your body. What can you say about this? Well, this is one of the major advantages bitcoin has over gold. The very fact that bitcoin isn't physical and doesn't need to be carried about gives it an edge over gold. Yes, I know gold did have some advantages over bitcoin which is normal for any comparison between two things, the fact that bitcoin is digital give it great advantage. Another benefit of bitcoin is that it cannot be trafficked unlike gold. I'm pretty sure a lot of bitcoins would have been siphoned and trafficked if it had been a physical asset |
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528
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Economy / Economics / Re: I lost my job, how about you guys?
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on: October 22, 2020, 08:26:23 PM
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Everything is unstable as long as there is a pandemic. Businesses halted operations due to supply problems. Supplies for a specific business takes too long to arrive beacuse of the tight security and of course shipment crews needs to be quarantined everytime they cross borders. That is why small businesses are affected and we workers as well. I know the only thing that will help me survive this crisis is cryptocurrency that is why I am active here again because fiat had failed me.
What is your story with fiat and cryptocurrency during pandemic? This is again the battle of centralized and decentralized assets and activity in the middle of a crisis. In your own experiences and opinion which of the two will win?
It is great to know that blockchain and cryptocurrencies have provided an alternative for you to survive in this period of pandemic which has caused the economic meltdown of several countries but like many have said before me, this is not the case of a centralized and decentralized assets in the middle of a crisis, it is simply a case of pandemic ravaging the world and businesses crumbling under the weight of it. Just like you resorted to crypto, several people would have resorted to other things that can fetch them money and help them also survive the pandemic, it is only a matter of doing something to survive the pandemic. |
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529
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Economy / Trading Discussion / Re: When You trade Do You use VPN?
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on: October 22, 2020, 06:41:46 PM
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If you are going to use VPN it may cause you a problem in the future the same as what happened to other traders before who use VPN and now suffer from verification or make their account freeze.
I think it would be better if you use VPS instead and buy a dedicated IP or residential IP. That way exchanges will detect you as a real user unlike on using a VPN that the IP it gives you always changes every time you connect to VPN so it might cause you trouble in the future.
This is actually true. VPN causes trouble on the long run, if not sooner then later simply because of the different IPs it generates every time you connect to a VPN. I actually haven't had the reason to use a VPN simply because it is not needed to trade in my country. I can actually trade without having to resort to using a VPN which is much safer for me. I've heard stories of guys who use VPN to trade only for such accounts to be blocked and funds frozen with it. The guy i quoted suggested using VPS, I haven't heard of it but I guess it's way better than VPN since it uses a specific or dedicated IP address |
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530
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Economy / Gambling discussion / Re: Lost more in the process to recover ?
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on: October 22, 2020, 05:18:13 PM
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  I bet this has happened to probably all gamblers that ever gambled. Losing more in the process of trying to recover what one lost earlier. This happened to me back in 2017 and I have since then stickied by some rules I made for myself. I call them 'Personal Rules for Gambling' 1. Always gamble what you can afford to lose. Any successful gambler will attest to this great advice. It's a golden rule 2. Quit after 3 losses in a row. Some do five in a row but I try as much as possible to keep it at 3 to reduce my losses 3. During a win streak, win as much as possible cause it's your lucky day 4. Periodically take some time off gambling. Blow some heat off and come back stronger
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531
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Economy / Speculation / Re: Bitcoin broke $13k today
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on: October 22, 2020, 04:06:53 PM
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It is interesting and great to see the price of bitcoin breaking $13000 after such a long time. Although no one can predict accurately what the price of bitcoin will be in the future, one can only hope it will get better.
I checked the price of bitcoin just now and it's only a little less that $13k. It is presently hovering around $12.9k which shows some stability.
I think it will stable at this price for a while before making either of bullish or bearish move, hopefully a bullish move.
Despite the fact that we are still a long way from reaching the highest price bitcoin has ever reached, I believe it's only a matter of time before we get there and even surpass it.
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532
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Economy / Gambling discussion / Re: Towards another gambling site.
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on: October 21, 2020, 08:38:36 PM
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Although, there are strategies one can employ to make winnings in Roulette, it can only take one so far. Gambling in any form of sport have been dependent on luck.
It isn't wrong to employ strategies in these games, only that one should know it doesn't guarantee winning every now and then. Roulette is a game of chance since it has to do with rolling the board and hoping it stops at a particular number.
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533
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Economy / Trading Discussion / Re: Which one is better? Forex or crypto currency trading?
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on: October 21, 2020, 06:09:20 PM
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I do not think there is any much difference between Forex and Crypto trading. Both are dependent on fundamental analysis and technical analysis. One can only make the most of both markets by getting the necessary knowledge and skills required for trading.
I, however, do believe that the crypto market has more volatility than the forex market and it's more profitable in moments of wins and causes more losses in moments of losses. This is exactly what makes the crypto trading more risky than forex trading.
One can see that there really is no advantage of one over the other and one should only choose the one you're comfortable with
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534
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Economy / Economics / Re: PayPal to allow cryptocurrency buying, selling and shopping on its network
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on: October 21, 2020, 05:13:07 PM
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This is actually great for the crypto community. PayPal is a big company in the financial world and it adopting bitcoin is a big win for us.
When companies like this adopt bitcoin, they make many of their users see the numerous advantages and benefits of bitcoin and as a result, boost the adoption of bitcoin in the mainstream world.
I, however, believe it'll be better if bitcoin is not bought and sold on the platform but also used to buy goods and services from merchants. That way, the primary reason bitcoin was made will be achieved since it was made primarily as a currency.
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535
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Bitcoin / Bitcoin Discussion / Re: Did bitcoin lose its value?
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on: October 21, 2020, 04:06:06 PM
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I do not believe that the price of bitcoin is dependent on the price of any fiat currency not even the US dollar. The price of bitcoin is only pegged to the USD because of its dominance in the market most likely because of the stock market.
In the same way bitcoin was pegged to the US dollar, it could also be pegged to the European Euro or the British Pounds or the Japanese Yen or the Canadian dollar or any fiat currency that you can think of.
The incident OP made mention of is can at best only be attributed to coincidence.
It doesn't matter what happens to the US dollar, it doesn't affect the price of Bitcoin. One should know that the volatility of the price of bitcoin even when it goes down doesn't at any point means that bitcoin is losing value
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536
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Economy / Economics / Re: Government slowly open the economy, will it make the pandemic worst?
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on: October 20, 2020, 09:16:12 PM
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Although the reopening of the economy might make the pandemic worse by causing a second wave, I do not believe the government has a choice but to do it.
During the lock down, just like OP mentioned, there was a downturn in the economy of many countries which in turn causes a lot of suffering for the people. Many workers were laid off, many were without pay, which in turn means they can't pay bills or taxes or other form of revenue for the government. If things like this happen, then the government definitely needs to find a way to restore things which is only by reopening the economy.
I think the only thing necessary to ensure that it doesn't worsen the pandemic is ensure that proper preventive measures are put in place and violators of these measures are sanctioned
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537
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Economy / Gambling discussion / Re: Gambling thoughts.
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on: October 20, 2020, 08:10:53 PM
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Do you ever asked yourselves these things?
1. Which one do you prefer, Casino gambling or online gambling?
2. How much money are you willing to spend on gambling?
3. How do you manage your lose streak or win streak?
4. If you will have $1000, what game in the casino you are going to play?
5. What is the best advice that you can give to a gambler?
1. I actually do prefer online gambling just because of the convenience it proffers. Why should I spend several hours in a casino when I can do just that from the comfort of my home? 2. I had to disciple myself concerning this. Now, I spend nothing more than $100 on gambling. Trust me, I've saved a lot this way. 3. I manage my lose streak by just taking some time off. I quit gambling for some time after making 3 consecutive losses. I just keep on gambling during my win streaks until I have about 3 consecutive losses. Only then do I bail out 4. It's definitely Blackjack just like OP. It's my favorite game 5. Only gamble what you can afford to lose. That's one of the best advice you can get as a gambler |
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538
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Economy / Trading Discussion / Re: it seems to getting more difficult now to analyse cryptocurrency prices
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on: October 20, 2020, 06:57:57 PM
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so its getting more difficult to analyse prices do you guys dont think that market is more un predicteble then before?
you can read the charts and analyse before it use to be went according to analyses but now it look like the market can any ways
is so what could be the reasons?what have might caused this ?? have anyone here noticed same thing?
It is funny how that you think the market is getting more difficult to read because a few analyses you made didn't go according to your guess. The market has been that way since the very beginning. Times when you have consecutive losses and you feel the market can't be read. The only thing that causes such condition is the fact that one does not have the necessary skills and knowledge to read the market accurately. The only thing that should be done in cases like this when there are losses is for one to take a chill, take some time off and learn and study more about the market, only then would you realize that the market is not as difficult as it seems |
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539
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Other / Archival / Re: Potential shortage of bitcoins?
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on: October 20, 2020, 05:35:48 PM
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Although many of these companies are actually buying these coins to hoard as a form of investment causing a huge reduction in the number of coins circulating in the market, I do not believe it'll cause a potential shortage of bitcoins in the market.
You should know that there will always be sellers in the market which means there'll always be coin circulation.
You should also know that despite the huge amount of money spent in buying these coins, it is only but a small percentage of total supply of bitcoins. There is still a whole lot of coins out in the market that is being traded (bought and sold) on a day to day basis.
Even if there'll be a shortage of bitcoins, it will take quite a number of companies to buy at the $250million rate to cause a significant reduction in the number of coins circulating in the market
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540
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Bitcoin / Bitcoin Discussion / Re: Government figures or politicians supporting Bitcoin?
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on: October 19, 2020, 09:03:52 PM
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This is a very interesting thread as it touches the core factor of bitcoin's mass adoption in the mainstream world.
Of course, just like OP mentioned, there are politicians and government figures or officials who support bitcoin or the Blockchain technology, although many do this in secret and not publicly.
A government figure publicly supporting bitcoin is suggesting to the public that he has seen the numerous advantages and benefits of bitcoin over the current monetary system and should be made the legal tender. This invariably means that the government figure is saying that the government shouldn't have control over the masses' money. Trust me, this is very very rare.
I, however, believe that, going at this rate, bitcoin will eventually be adopted by everyone including government officials and politicians because that is the future of money.
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