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Showing 20 of 50 results by Esther C
It has been reiterated countless times on the need to keep and store your coins off exchanges as it has been proven a couple of times about how unsafe exchanges are, and with the latest drama involving FTX, the point is proven once again.
These are some of the crypto exchanges that has either been hacked, had some sort of a security breach or has downright folded up and when it occurred.
1. Altsbit - Feb 2020
2. Uniswap- April 2020
3. Balancer- June 2020
4. Cashaa- July 2020
5. Hotbit- April 2021
6. Ascend EX- December 2021 and just recently,
7. FTX- November 2022
These breaches are just some as recent as two years.
Exchanges such as those listed above would promise top notch security and encourage people to do business with them and when breached, its same people who would be at the receiving end.
These hacks and breaches in these exchanges does not fare well for the crypto market as it could get existing and potential new investors jittery.
So, like the heading says, do not make crazy suicidal moves in this bear market.
The recent FTX drama involving hundreds of millions of dollars stolen has resumed the barraging attacks on bitcoin and cryptocurrencies in general by critics and naysayers.
Bitcoin has withstood these attacks and proven all ye naysayers out there wrong and would continue to do so.
So Im pretty much putting it out there to chill and not make any rash decisions that would be regretted later on. And also to reiterate the fact that exchanges are a no no for keeping your coins.
These are some of the crypto exchanges that has either been hacked, had some sort of a security breach or has downright folded up and when it occurred.
1. Altsbit - Feb 2020
2. Uniswap- April 2020
3. Balancer- June 2020
4. Cashaa- July 2020
5. Hotbit- April 2021
6. Ascend EX- December 2021 and just recently,
7. FTX- November 2022
These breaches are just some as recent as two years.
Exchanges such as those listed above would promise top notch security and encourage people to do business with them and when breached, its same people who would be at the receiving end.
These hacks and breaches in these exchanges does not fare well for the crypto market as it could get existing and potential new investors jittery.
So, like the heading says, do not make crazy suicidal moves in this bear market.
The recent FTX drama involving hundreds of millions of dollars stolen has resumed the barraging attacks on bitcoin and cryptocurrencies in general by critics and naysayers.
Bitcoin has withstood these attacks and proven all ye naysayers out there wrong and would continue to do so.
So Im pretty much putting it out there to chill and not make any rash decisions that would be regretted later on. And also to reiterate the fact that exchanges are a no no for keeping your coins.
This is actually a valid message because more people than I thought use FTX and have been plunged into confusion and sadness. Not just that. Bitcoin being lower than $17,000 has made people have second thoughts. So with the recent news surrounding FTX right now and crypto in general, more people have begun to panic. Say NO to suicide. Well bounce back from this.
Lesson for project owners from CZ
1. Never use a token you created as collateral
2. Don't borrow if you run a crypto business.
3. Don't use capital "efficiently". Have a large reserve
Binance has never used BNB for collateral, and we have never taken on debt. .
1. Never use a token you created as collateral
2. Don't borrow if you run a crypto business.
3. Don't use capital "efficiently". Have a large reserve
Binance has never used BNB for collateral, and we have never taken on debt. .
Can someone please explain the no. 3 more in-depth please.
Re: What Point Do You Start Accepting Bitcoin as a Payment Option For Your Business?
I have read more than five (5) posts on this forum where users celebrate accepting bitcoin as a payment option for their business. Outside of the forum, we have read news of companies such as Microsoft, Home Depot, Twitch, Whole Foods, Gyft, Benfica accepting bitcoin as a payment. The question that has been on my mind for quite a long time is that-at what point do you think a business should start accepting bitcoin as a payment option, considering profit margin, price stability, and manipulation from exchanges?
Image source: Bitcoin Accepted Here
I think Ill just keep quiet for the big boys to talk on this one😅
Re: investment in bitcoin should be short term or long term.
i am a newbie in bitcoin, and i plan to buy bitcoin,, and will invest in bitcoin, and i want to ask everyone? if investing in bitcoin is it better short term or long term??? but in my opinion, long-term investment is better, but what do you think?
In my opinion, Ill say if you plan to day-trade then it can be short term. But if you plan to invest and HODL, then you should make it long term.Re: Sports and entertainment industries could play a big role in Bitcoin adoption.
I have long been having a thought over this. The sports and entertainment industries gets more attention to themselves unlike other industries. I believe also that they have or share fans that are into blockchain as well. If these two industries looks into blockchain I believe there would be a strong massive adoption as a result of their total engagement with their fans if they constantly accept Bitcoin payment for their shows and events. Like some clubs already doing this and the response is welcoming.
If musicians do follow same step, I think there would be massive adoption as most of them are Bitcoin informed and inclined. Artists could help spread the move on Bitcoin adoption.
Do you think this would be realized if it is given attention to.
If musicians do follow same step, I think there would be massive adoption as most of them are Bitcoin informed and inclined. Artists could help spread the move on Bitcoin adoption.
Do you think this would be realized if it is given attention to.
This is something that has already been happening. Itll be a mainstream thing soon.
Re: What efforts have you made to raise bitcoin awareness in your community?
We live in a modern world, and it is the responsibility of those who are educated to educate those around them, because not everything in this life is learned in school. Aside from attending school, there are numerous ways to learn. We wake up each day and see new things, so learning is all around us.
In 2016, a friend of mine suggested that I come and invest in Bitcoin; I was shocked, and I told him that I would not. I thought it was all a scam, and I don't like online stuff because I don't believe in it, so I told my friend, "Okay, since you said it's not a scam, teach me about bitcoin." I did some folder research on it and discovered that it is true. My friend introduced me to bitcoin. I began learning how to trade it, and from there I began investing in Bitcoin. My investment gradually grew in my favor, and I began to enjoy the fruits of my labor. I was so surprised when my people transferred the thought I had for my friend before I joined to me. I started spreading the word about bitcoin, and while not everyone believes in it, it has made me less suspicious. Even now, most people believe it is a scam. I noticed that some of us here are raising awareness. No, charity starts at home.
In 2016, a friend of mine suggested that I come and invest in Bitcoin; I was shocked, and I told him that I would not. I thought it was all a scam, and I don't like online stuff because I don't believe in it, so I told my friend, "Okay, since you said it's not a scam, teach me about bitcoin." I did some folder research on it and discovered that it is true. My friend introduced me to bitcoin. I began learning how to trade it, and from there I began investing in Bitcoin. My investment gradually grew in my favor, and I began to enjoy the fruits of my labor. I was so surprised when my people transferred the thought I had for my friend before I joined to me. I started spreading the word about bitcoin, and while not everyone believes in it, it has made me less suspicious. Even now, most people believe it is a scam. I noticed that some of us here are raising awareness. No, charity starts at home.
I’ve recently been involved in a lot of peer to peer teaching. Word of mouth has been my tool.
We are in a world people desire to work in oil company, banking firm and while others choose to in different organizations been a corporate office jobs just to answer am working in so so company, but can you choose crypto as full time corporate job?
I'm not really sure how to answer this but yes you can example like working on exchange or writting some blog or making video about crypto, The other way was working as Blockchain developer on some sector like Oil, Market, Food, etc and also being a lawyer or even marketing on some blockchain-based company
I'm not really sure how to answer this but yes you can example like working on exchange or writting some blog or making video about crypto, The other way was working as Blockchain developer on some sector like Oil, Market, Food, etc and also being a lawyer or even marketing on some blockchain-based company
This has since since been a thing. There are people who take cryptocurrency as a full-time job. If I had gotten into cryptic earlier, this is something I’d have considered myself.
I don't mean to sound superstitious but where I'm from we believe that names have power and have an influence on how our children will act so we always try to give our children very good names. Currently because of the very unpredictable nature of any cryptocurrency, I wouldn't consider giving my child a name after a cryptocurrency yet, I would not want my child exhibiting and unpredictable behavior.
Say in the future when bitcoin has achieved stability, the name can be considered then but not currently.
Say in the future when bitcoin has achieved stability, the name can be considered then but not currently.
Hahaha. The unpredictable part got me laughing
No, I would never . I don’t think that’s fair on them either. How would they feel when they’re old enough and they find out they were named a particular name for selfish reasons. Imagine calling your child Ethereum😅. It’s a No no for me.
We are in a world people desire to work in oil company, banking firm and while others choose to in different organizations been a corporate office jobs just to answer am working in so so company, but can you choose crypto as full time corporate job?
I'm not really sure how to answer this but yes you can example like working on exchange or writting some blog or making video about crypto, The other way was working as Blockchain developer on some sector like Oil, Market, Food, etc and also being a lawyer or even marketing on some blockchain-based company
I'm not really sure how to answer this but yes you can example like working on exchange or writting some blog or making video about crypto, The other way was working as Blockchain developer on some sector like Oil, Market, Food, etc and also being a lawyer or even marketing on some blockchain-based company
Sure, why not. Cryptocurrencies isn’t just limited to day-trading or being an investor. You can be a blockchain developer, and several others available.
I first got into crypto in February this year however did not start investing in Bitcoin until June after the crash as I felt it was too expensive until then.
I have been DCA now since June and my average buy is £17,100 and I have 6% of a Bitcoin which I know is not much but I have been taking it slow and feel it is slowly growing whilst buying at these lower prices.
I watched a clip on Youtube earlier saying how Bitcoin is great however it is limited in terms of profit potential and it got me thinking if I should keep DCA into Bitcoin or sell it all and put into Altcoins that are likely to return much more over the next 2-3 years.
I mean how high can Bitcoin realistically go in the next 2-3 years? £150k maybe which would be less then 10x compared to other altcoins that can 20-50x when the bull run returns.
Just wondering if everyone invests in Bitcoin or is it worth just focusing on strong altcoins that can 20-50x in the next few years?
I know I have got into Bitcoin at a good price but just feel while altcoins are currently 85-95% down from all time high may be better making the most of that rather then being safe with Bitcoin and not seeing much return.
Bitcoins are better for investing while Altcoins are good for day trading but mind you, they can be really volatile and risky.I have been DCA now since June and my average buy is £17,100 and I have 6% of a Bitcoin which I know is not much but I have been taking it slow and feel it is slowly growing whilst buying at these lower prices.
I watched a clip on Youtube earlier saying how Bitcoin is great however it is limited in terms of profit potential and it got me thinking if I should keep DCA into Bitcoin or sell it all and put into Altcoins that are likely to return much more over the next 2-3 years.
I mean how high can Bitcoin realistically go in the next 2-3 years? £150k maybe which would be less then 10x compared to other altcoins that can 20-50x when the bull run returns.
Just wondering if everyone invests in Bitcoin or is it worth just focusing on strong altcoins that can 20-50x in the next few years?
I know I have got into Bitcoin at a good price but just feel while altcoins are currently 85-95% down from all time high may be better making the most of that rather then being safe with Bitcoin and not seeing much return.
I found the below image online, this was exactly 13 years ago when the price of bitcoin was still as good as zero, it is seen on the table that exactly today, being the 6th of October, 2009(13 years ago), with $1, one could purchase BTC1,130.53...
I then tried to calculate what BTC1,130.53 is worth today according to Bitcoin's current market price, and I am indeed overwhelmed.
Makes me kind of asking myself where I was and what was I doing at this time 13 years ago
How does this make you feel?
EDIT: I found this article too really interesting to read - https://www.cryptodefinance.com/1300btc-worth-1dollar-new-liberty-standard/
I then tried to calculate what BTC1,130.53 is worth today according to Bitcoin's current market price, and I am indeed overwhelmed.
Makes me kind of asking myself where I was and what was I doing at this time 13 years ago
How does this make you feel?
EDIT: I found this article too really interesting to read - https://www.cryptodefinance.com/1300btc-worth-1dollar-new-liberty-standard/
I was still in the dark. Didn’t even know there was a thing called Bitcoin. Such tremendous change has happened with Bitcoin. It’s good to witness it.
The price of Bitcoin increased drastically in late 2020 and early 2021. The price of Bitcoin touched about 72k dollars.But from there the price has come down to its lowest level.
https://i.ibb.co/SwZRFXh/22b6e9eb5212.jpg
Bitcoin price is currently 19302 dollars but the possibility of Bitcoin price increase from here is very high.And I think Bitcoin price in 2023 Chances of reaching $100,000 per year are very high so if one wants to invest then now is the best time to invest in Bitcoin.
If you invest at this time then you will definitely be able to reap huge benefits as I believe that Bitcoin price will increase greatly by 2023.
https://i.ibb.co/SwZRFXh/22b6e9eb5212.jpg
Bitcoin price is currently 19302 dollars but the possibility of Bitcoin price increase from here is very high.And I think Bitcoin price in 2023 Chances of reaching $100,000 per year are very high so if one wants to invest then now is the best time to invest in Bitcoin.
If you invest at this time then you will definitely be able to reap huge benefits as I believe that Bitcoin price will increase greatly by 2023.
In my opinion, there has to be some serious significant factor occurrence to cause that spikes. The chips have been really down for a while.
Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me 
and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.
and nobody in our family and also friends do not know anything than what should be the possibility. I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.
That’s why it’s important to let your family know of important dealings like this abs bring them into it so they have an idea on what’s going on.
I was reading some of the replies in of @mr_jk's thread when he asked what will happen if bitcoin's price became stable?
The replies were unexpected hehehe. Much of them argued why or how can bitcoin be stable? This makes me ask the question do much of the holders of bitcoin want the price to be stable or do they really want it be volatile? I ask this because stability makes bitcoin become a good store of value and medium of exchange. Volatility makes it good for trading and speculation.
The replies were unexpected hehehe. Much of them argued why or how can bitcoin be stable? This makes me ask the question do much of the holders of bitcoin want the price to be stable or do they really want it be volatile? I ask this because stability makes bitcoin become a good store of value and medium of exchange. Volatility makes it good for trading and speculation.
Stability does not support trading. There would be no margin for profits. And even investors would see little or no value increase over time.
Bitcoin is still seen and used as widely as a speculative asset most people are buying it because they think
it's going to appreciate in the future or they're and they're not transacting with it in their daily lives they're holding it for the long term and because of that type of price speculation, there's a lot of people, especially day traders who use tools or use what's happening on futures markets to determine the sentiment of where the price is going to go everyone wants to have a crystal ball of what the future price of anything is going to be and futures prices you know the last Friday of every month is always volatile because that's when the futures expire and people are basing what's going to happen in the next month on
that particular day so on the short term.
it can affect the price of bitcoin?
it's going to appreciate in the future or they're and they're not transacting with it in their daily lives they're holding it for the long term and because of that type of price speculation, there's a lot of people, especially day traders who use tools or use what's happening on futures markets to determine the sentiment of where the price is going to go everyone wants to have a crystal ball of what the future price of anything is going to be and futures prices you know the last Friday of every month is always volatile because that's when the futures expire and people are basing what's going to happen in the next month on
that particular day so on the short term.
it can affect the price of bitcoin?
I'm not quite clear on what your question is but generally transactions in bitcoin alters the price both ways. Volatility even makes the price more unstable.
The price of Bitcoin increased drastically in late 2020 and early 2021. The price of Bitcoin touched about 72k dollars.But from there the price has come down to its lowest level.
https://i.ibb.co/SwZRFXh/22b6e9eb5212.jpg
Bitcoin price is currently 19302 dollars but the possibility of Bitcoin price increase from here is very high.And I think Bitcoin price in 2023 Chances of reaching $100,000 per year are very high so if one wants to invest then now is the best time to invest in Bitcoin.
If you invest at this time then you will definitely be able to reap huge benefits as I believe that Bitcoin price will increase greatly by 2023.
https://i.ibb.co/SwZRFXh/22b6e9eb5212.jpg
Bitcoin price is currently 19302 dollars but the possibility of Bitcoin price increase from here is very high.And I think Bitcoin price in 2023 Chances of reaching $100,000 per year are very high so if one wants to invest then now is the best time to invest in Bitcoin.
If you invest at this time then you will definitely be able to reap huge benefits as I believe that Bitcoin price will increase greatly by 2023.
I hear this every other time.
Does this happen to anyone else? You're trying to explain to someone, perhaps a close relative, what crypto actually is? And they come up with all of these strange/sill ideas? These are my top 3, I would love to hear everyone else's.
1. You can only buy whole bitcoins. I guess this one makes sense, if you never knew anything about crypto. After all, one usually buys whole stocks and bonds, and whole other things. But I have had many conversations where the person says something like "yeah I would love to get bitcoin but I don't have (insert whatever the current price is).
2. It's a ponzi scheme/ tulip bubble/ some other kind of scam or shenanigans. I think this one comes straight from the msm. Even prominent financial news outlets regularly print erroneous, or purposely false and misleading information. But, if you actually know what crypto is, the idea that it is the same thing as a ponzi scheme or the tulip bubble is just silly. It's like the exact opposite of those things.
3. I would love to buy some Bitcoin, but (whatever the current price is) is just too expensive for magic internet money. This one I think is due to people feeling like they missed out at being an early adopter. These are the types that tend to say things like "gee I wish I had bought amazon when it was a few pennies a share". But whatever the current price, it's too much. It could literally be $5 a Bitcoin and they would say it was too much. I get it, they don't really understand what crypto is, but it's still a bit silly if you ask me.
What are your favorites?
1. You can only buy whole bitcoins. I guess this one makes sense, if you never knew anything about crypto. After all, one usually buys whole stocks and bonds, and whole other things. But I have had many conversations where the person says something like "yeah I would love to get bitcoin but I don't have (insert whatever the current price is).
2. It's a ponzi scheme/ tulip bubble/ some other kind of scam or shenanigans. I think this one comes straight from the msm. Even prominent financial news outlets regularly print erroneous, or purposely false and misleading information. But, if you actually know what crypto is, the idea that it is the same thing as a ponzi scheme or the tulip bubble is just silly. It's like the exact opposite of those things.
3. I would love to buy some Bitcoin, but (whatever the current price is) is just too expensive for magic internet money. This one I think is due to people feeling like they missed out at being an early adopter. These are the types that tend to say things like "gee I wish I had bought amazon when it was a few pennies a share". But whatever the current price, it's too much. It could literally be $5 a Bitcoin and they would say it was too much. I get it, they don't really understand what crypto is, but it's still a bit silly if you ask me.
What are your favorites?
I think I was guilty of the first misconception. It's also not hard to see why people think like that. Bitcoin is costly as it stands, we generally feel like we missed out and have no hope.
Anyone can create a token named 'Bitcoin' on a blockchain like Ethereum or BNB using smart contracts. But that's a different kind of scam. But the fake Bitcoin that I want to talk about, is actually created by some exchanges themselves!
Let me tell you. Bitcoin has a limited supply - only 21 million. Moreover, with the rise in popularity of BTC and the fear of hacking on various exchanges, more people than ever have started keeping Bitcoins in their wallets. As a result, the amount of BTC deposited in the exchanges is decreasing every day. Everyone knows that BTC is the most popular trading pair with any other crypto. But if the exchange doesn't have bitcoins, their business will go downhill.
That's why some exchanges have created their own coins with the same value as real Bitcoins by placing stablecoin collateral with bitcoin equivalents! Since exchanges do not immediately add crypto trading on their platforms to the blockchain, this leverage is difficult or almost impossible to capture. Because, common users don't understand anything.
But what is there to worry if the daily activities of the users are not disrupted? Of course there is. Exchanges that make fake bitcoins are really weak exchanges! And, trading in such an exchange is very risky! Therefore, it is better to do most of the transactions on the top exchanges according to the exchange rating on the Coinmarketcap site!
Let me tell you. Bitcoin has a limited supply - only 21 million. Moreover, with the rise in popularity of BTC and the fear of hacking on various exchanges, more people than ever have started keeping Bitcoins in their wallets. As a result, the amount of BTC deposited in the exchanges is decreasing every day. Everyone knows that BTC is the most popular trading pair with any other crypto. But if the exchange doesn't have bitcoins, their business will go downhill.
That's why some exchanges have created their own coins with the same value as real Bitcoins by placing stablecoin collateral with bitcoin equivalents! Since exchanges do not immediately add crypto trading on their platforms to the blockchain, this leverage is difficult or almost impossible to capture. Because, common users don't understand anything.
But what is there to worry if the daily activities of the users are not disrupted? Of course there is. Exchanges that make fake bitcoins are really weak exchanges! And, trading in such an exchange is very risky! Therefore, it is better to do most of the transactions on the top exchanges according to the exchange rating on the Coinmarketcap site!
Wow! This is a timely update. Never heard of it before.
I believe everyone here onboard this platform once had a very though and challenging moment with bitcoin at the initial start. At first it seems unrealistic then looks like a scam but at last it was a real deal. sharing our experiences and worst moment might just help others build on and also bring us back to the very first beginning of our journey into bitcoin then. This would also help us evaluate how far we have gone and also creates room for more on-boarding of more adopters. Sharing our experiences on how we started would also encourage more to be steadfast in the system. This would go a long way in helping others at the verge of giving up on bitcoin.
How was your worst moment and experience like and how were you able to handle it then ?
How was your worst moment and experience like and how were you able to handle it then ?
My worst experience was my first encounter with buying Bitcoin. I used to quickly rush to sell my Bitcoin when there is a dip and hurriedly buy when there is a rise. Of course, this is a perfect recipe for loss in crypto. Overtime, I’ve learned that with Bitcoin you should just HOLD. Don’t panic to leave a trade or get in.