Search content
Sort by

Showing 20 of 68 results by Flyingjack123
Post
Topic
Board Bitcoin Discussion
Re: Good days to bitcoin will be back soon.
by
Flyingjack123
on 19/11/2022, 03:11:38 UTC
I'll have to agree with Franky1 that the fall of FTX mostly shook the news but did have an impact on cryptocurrencies, which in my opinion, it was just a minor and temporary dent. Only a minimal percentage of cryptocurrency users were actually affected, and the market is likely to recover back to $20,000 levels in a couple of weeks at most.

This should be a lesson to all of us, including ourselves, firstly to not trust third-party services and especially such coins that are backed with pure air.

Thanks, you made a nice point that we should not trust the third party for managing our crypto. Most of them are not really very customer friendly. But they have taken the lead and majority of new investors are trading through these 3rd parties only.
How can people really learn to handle their crypto assets, can you help me out on this.
Post
Topic
Board Bitcoin Discussion
Re: Good days to bitcoin will be back soon.
by
Flyingjack123
on 19/11/2022, 03:03:49 UTC
The previous bear market had a significant negative impact on altcoins, but it didn't kill the market completely and didn't kill trading either. This time around, some will also lose their market capitalization and never return to former glory, but others will remain and then experience growth along with Bitcoin when it starts recovering.
I agree that regulations are the future, but regulations should be centred around protecting customers from losing money by big oversight of operations of companies like crypto exchanges, not on penalizing users, depriving them of privacy and restricting their options. Moreover, regulations should not extend the practices that are related to other businesses, so that they remain reasonable and fair.
The problem is that not really a big chunk of population is involved in crypto right now.
While crypto is the future, but most of them are not concerned.
I assume there will be a tussle between  the holders and regulators for establishing their authority. sadly I assume anonymity might get compromised due to security concerns, but decentralisation is going to stay here.
Post
Topic
Board Bitcoin Discussion
Re: Good days to bitcoin will be back soon.
by
Flyingjack123
on 19/11/2022, 02:59:26 UTC

~snip~ The other "crypto assets" that you are talking about is are shitcoins that people don't trust. Hence, those coins eventually die and you are left with nothing. It has always been clear that those coins will eventually fall, yet people still invest in those coins wishing to get reach real quick.


A shitcoin that is not trusted by people but is supported by a few people who make it hype and end up being a detrimental trap. No shitcoin can last that long. people who come only for shitcoin and invest their money in shitcoin just want a quick profit, but in the end all the money is not coming back and shitcoin is a scam. Bitcoin remains at its best, decentralized, without any physical backing. and bitcoin became the cradle of all shitcoins.
No matter what other protocol has come, POW remains the best and bitcoin has been the best decentralised and anonymous. Such was the vision and works of Satoshi that after so much of search of alternatives for decades , bitcoin still remains the best
Post
Topic
Board Bitcoin Discussion
Re: Good days to bitcoin will be back soon.
by
Flyingjack123
on 19/11/2022, 02:54:12 UTC
What do mean bitcoin will lead from the front. It's already ahead and already Goated.

Every bear market leads to the death of shit coins and with the current saga combine with the bear market more will follow suit.

As for POS nothing more to say infact the recent saga around Centralized exchanges as proven that POS doesn't have a future due to its centralization, I just hope investors do not realise it late.
The good thing now will be, that market will now be a cleaner place Excess of shit coins made crypto space more like a gambling ground.
Authorities too have learnt their lessons, that meddling with bitcoin won't help them either. they will be more supportive now , this will help bitcoin in long run..
Post
Topic
Board Bitcoin Discussion
Topic OP
Good days to bitcoin will be back soon.
by
Flyingjack123
on 18/11/2022, 14:27:28 UTC
Recent fall of FTX shook the crypto ecosystem Also It has come as a lesson for crypto world, though an expensive one.

There are many crypto assets that are currently in the market and are backed by nothing. This has shown that when it becomes too risky to invest in shit coins and why we should avoid it.


Moreover it's becoming clearer that in future a lot of shit coins are going to fall on their face and wipe out from the system.

The fall of FTX also showed the lacuna of POS as well. While ethereum moved to POS. I believe it has in one way or other affected the crypto ecosystem to lead to this fall.

Believe it or not the future is of crypto regulations. The thousands of crypto projects which have been launched without any meaningful backing are going to fall on face.
It's time of retribution for those altcoins

All the naysaying  and scepticism of bitcoin will going to end soon. As in a well regulated market only are few currencies will be traded. And for sure bitcoin will lead from front.
Post
Topic
Board Beginners & Help
Topic OP
List to terminologies every newbie should know.
by
Flyingjack123
on 09/11/2022, 18:31:39 UTC
For all the newbies out there who are still trying to figure gur, what crypto is all about
A list of crypto terminologies can be a first lesson.
Here I am trying to put the source links of such basic
 terminologies.
From bitcoin to alcoin from hodl to read.

So please learn for yourself

https://www.google.com/amp/s/www.nasdaq.com/articles/decoding-crypto%253A-top-25-crypto-terms-you-need-to-know-2021-09-13%3famp

https://genesisblockhk.com/12-terms-all-crypto-lovers-should-know/

https://www.google.com/amp/s/time.com/nextadvisor/investing/cryptocurrency/crypto-terms-you-should-know-before-investing/amp/

Post
Topic
Board Bitcoin Discussion
Topic OP
Why i believe in bitcoin!! An amateur's outlook.
by
Flyingjack123
on 03/11/2022, 18:25:18 UTC
I came to know about bitcoin somewhere in December 2021. When it was hovering around 50,000 USD.
 I read about its story from how Satoshi started the project to bitcoin pizza and more.  I felt inspired. I decided to learn more about it and joined the forum with the same intention.
Over period of time i learnt things from crypto-wallets to crypto-exchanges. I learnt how bitcoin gained value and what are its benifits.
I also learnt about the flood of altcoins in the market, and how they are rising and falling overnight. Giving people chance to gamble and make fortune.

However to me bitcoin always felt special, because while projects fizzle out now and than, bitcoin has steadily been the corner stone of cryptoworld.
Also maybe i joined this forum, may be this naturally enhanced my trust in bitcoin.
I am not an avid investor. I invest small amounts now and than in bitcoin, and intend to not to touch my investment atleast this decade. I hope by then it will grow to a respectable sum.

While lot of people off late were saying that bitcoin is finally doomed to fall. Recently my trust in bitcoin has substantially increased because of the  way it held its value against market forces . While all the currencies including euro and yen, showed a steep drop against dollar. The share marked saw a fall. Bitcoin held its ground.Against all the naysayers against all the government bans and restrictions, bitcoin managed to hold.
I believe it has proven its mettle.
I believe soon bitcoin will rise and shoot to the stars..
Waiting for that to happen.


Post
Topic
Board Bitcoin Discussion
Re: Education Resources to learn bitcoin from scratch
by
Flyingjack123
on 03/10/2022, 15:17:12 UTC
I also have a (maybe rhetorical) question to OP: how comes it took you 8 months and almost 50 posts to ask the right question?  Cheesy
Some members here wander around for a while before realizing what the purpose of Bitcoin is and what advantage Bitcoin has for their financial life.
But thank goodness he has been given great tools that will build his knowledge, I have always suggested knowledge before any attempt in bitcoin and the entire cryptocurrency market.
I wouldn't want to suggest some more learning tools to ops since he already got quite a handful of educative links from mk4 to learn and build with.

Yess.. i am a completely non tech guy..
I was introduced to this forum by one of my friend,  I always wanted to use it.

However most of post seem discussions and while i was reading them i was making small contributions to forum, however when i understood i need technical know-how to actually do something meaningful, i felt asking the seniors is the best thing to do.
And thanks to gods
 You people gave me something worthy to study and learn.
Post
Topic
Board Bitcoin Discussion
Re: Education Resources to learn bitcoin from scratch
by
Flyingjack123
on 03/10/2022, 15:12:42 UTC
Pro-tip: don't focus on trading and investing and such. (at least for now.)


* If you like reading articles: https://coindesk.com/learn
* If you like reading books: https://theinternetofmoney.info/
* If you like watching videos: https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj

Security related:
* https://cryptosec.info
* https://www.lopp.net/bitcoin-information/security.html

If you want to get more technical
* https://github.com/bitcoinbook/bitcoinbook#chapters


Thankyou very much.. i had been looking for such resources for quite some time...
You gave all this wonderful stuff. I am looking forward to study all this...
Thanks senior.
Post
Topic
Board Bitcoin Discussion
Re: Can bitcoin be used to clean environment and reduce waste??
by
Flyingjack123
on 03/10/2022, 14:31:31 UTC
For long I read bitcoin isn't environment friendly and the cost of bitcoin mining is exorbitant.
 This is the main reason why many organisations and governments are criticizing bitcoin.
There are energy and environmental concerns involved with mining bitcoins but any organisation and governments that hides behind those reason alone as their major reason for not allowing bitcoin are merely being hypocritical. I have always said that prior to bitcoins we have always had environmental concerns and then rather than criticizing the environmental friendliness and mining cost of bitcoin they can seek to profer proper solutions to address these issues or if they are without idea seek to adopt ideas like what OP has suggested and make it work.

I completely agree with you... The governments are being hypocritical .
But what if we make bitcoin mining become a reward for setting up  bio digesters for waste management..
The higher the prices bitcoin achieve more will be the rewards for creating clean energy from waste and utilising it for mining.
The world will embrace, bitcoin as a saviour.
Post
Topic
Board Bitcoin Discussion
Re: Can bitcoin be used to clean environment and reduce waste??
by
Flyingjack123
on 03/10/2022, 14:17:32 UTC
There are some questions or threads we see here mables me. What bitcoin has to do with environment again? Bitcoin is an online or a digital currency which can be used to buy goods and services and if the  service providers accept it. so I don't see any connection between the two. But if you understand bitcoin you would not ask such question. What your Fiat currency can do bitcoin can also do if only the environmental service agencies will accept it then bitcoin can be used.
I am a biological scientist maybe i don't understand bitcoin as good as many here, but i understand 2 things.
The biggest challenges of our generation is environmental issues and much of it is human waste and emmisions.
Currently there is no real rewards for waste management and and secondly bitcoin mining..( not trading or transaction)needs lot of energy.  If we can club them together can't we mine bitcoin using otherwise useless waste..

Thankyou
Post
Topic
Board Bitcoin Discussion
Re: Can bitcoin be used to clean environment and reduce waste??
by
Flyingjack123
on 03/10/2022, 14:10:40 UTC
The energy companies are against carbon neutrality and fixing the problems they caused.

The issue with biofuel I can think of is it still produces waste gasses (but does reduce overall waste and might redirect some but landfill is normally compacted well to do that too - the waste normally isn't allowed to breathe for long).

I was looking into using renewables for crypto mining and it looks like they might pay higher than directly connecting them to the grid (for smaller sized operations) as the power companies normally only offer half the price of the electricity in return while it's generated (although that was taken from solar and I was looking into wind). That being said, at $400-2k a miner and $3-6k a wind turbine to power it there's probably a reason there aren't that many people doing it.
I believe it's not only about cheap electricity.. it's also more about creating a sustainable system.
A system which can address not only out current waste management and energy needs but future needs as well.
Tons of waste end up in sea, microplastics have already made their way to human fetus.

My point is if make our waste useful, we will have a sustainable and clean future and bitcoin can be a great tool to do that
Post
Topic
Board Bitcoin Discussion
Re: Nobel prize for Satoshi.
by
Flyingjack123
on 03/10/2022, 14:00:22 UTC
(....)
I believe for such a great contribution to science and humanity Satoshi do deserve a price, even when he is anonymous.

I request members to express their opinion as well.
Satoshi Nakamoto indeed deserves it but we are still not sure if Satoshi Nakamoto is only one person or a group of people, we will not know this at the moment. And another thing is can we award a noble prize to a person that is anonymous or unidentified?
Overall, whoever and whenever Satoshi Nakamoto now is, he/they are really proud on Bitcoin now.

Completely agree with you..
There have been people who are ahead of their time like Mendel who gave the famous principle of inheritance and he was awarded noble price after his death  30 years after in died.
Before that there was no rule to award nobel posthumously.

Can we apply similar principle for Satoshi and make a rule change...
Post
Topic
Board India
Re: Increase crypto tax from 30% to 55%
by
Flyingjack123
on 03/10/2022, 13:49:58 UTC
BJP member Sushil Kumar Modi wants the Finance ministry to increase crypto tax from 30% to 55% as he consider it as a form of gambling.
Quote
"Crypto is gambling. It is a form of lottery, a form of horse racing... When you put money in share market you know companies who are behind it but who are behind crypto?"
In my opinion he has no idea what Decentralization means and why any decentralized Blockchain cannot form a company as it is not owned or governed by an individual or a group.

I am also preety much sure that he doesn't know that cryptocurrency gambling and cryptocurrency trading are two different entities. This is not the first time that members from the ruling party have given out statements in public that proves how much they are aware about this new technology.

Read the full article and do share your thoughts.




Our politicians have been hopeless for decades and the way sushil modi is talking one statement made by Sam Manikshaw comes to my head that was
"I wonder whether those of our political masters who have been put in charge of the defence of the country can distinguish a mortar from a motor; a gun from a howitzer; a guerrilla from a gorilla, although a great many resemble the latter."
These are bunch of idiots with little knowledge but big mouth.
Post
Topic
Board Bitcoin Discussion
Topic OP
Can bitcoin be used to clean environment and reduce waste
by
Flyingjack123
on 03/10/2022, 13:23:05 UTC
For long I read bitcoin isn't environment friendly and the cost of bitcoin mining is exorbitant.
 This is the main reason why many organisations and governments are criticizing bitcoin.
However i feel defferent.
I feel bitcoin can become a great tool of creating a much cleaner and greener environment.

Most of the cities around the globe produce tons of waste and that waste end up in landfills, garbage hills, drains and so on.
Civic bodies don't really have capability, resources or even will to address these problems.

I feel if we allow bitcoiners to set biodegradation plants  for waste treatment. Such plants which decompose these waste and generate bio-gases like methane and other which can inturn generate electricity sufficient for running their bitcoin grids.

This will be a win win situation for all.

There will be cheap electricity for bitcoin mining , there will be biodegradation of waste as needed by civic bodies.
There will be greener and cleaner environment.

Overtime  an international  network or a global bitcoin grid, where citizens can invest for creating waste biodegradation plants and the bitcoin mined will be their reward in proportion to their investments.

I think bitcoin is an opportunity to bring together world and achieve the mammoth goals of environmental protection, poverty eradication and bringing prosperity and equality in world.

Please express your thoughts on this.


Post
Topic
Board Altcoin Discussion
Topic OP
Now cryptocurrency integrated into opera.
by
Flyingjack123
on 22/09/2022, 19:09:07 UTC
Opera browser integrates Elrond blockchain services to bolster Web3 adoption.

This means that more and more people who use opera will come to know about crypto. This mean a crypto promotion by the browser.
Post
Topic
Board Bitcoin Discussion
Topic OP
Bahrain allows regulated crypto payment gateway.
by
Flyingjack123
on 22/09/2022, 18:53:15 UTC
Now Bahrain is  allowing crypto payment gateway Eazypay to allow payments in crypto currency including bitcoin through  5,000 point-of-sale (PoS) terminals. once again validates that future belong not to Fiat but to crypto.
EazyPay’s crypto payment system will be “first regulated and approved crypto payments service offering” in the Middle East and North Africa region. Says binance CEO.

 With such positive developments, i hope crypto winter will be over soon and Bitcoin will rise again to moon.

Post
Topic
Board Bitcoin Discussion
Topic OP
What can we expect from this statement of Michal Slayer..
by
Flyingjack123
on 22/09/2022, 18:32:59 UTC
https://news.yahoo.com/bitcoin-could-return-68-000-135232771.html

Recently i came across this post Michael Saylor says Bitcoin could return to $68,000 within 4 years and hit $500,000 in the next decade..

The time line of 4 years seems very long... What's your opinion regarding thing...

Post
Topic
Board Bitcoin Discussion
Topic OP
Nobel prize for Satoshi.
by
Flyingjack123
on 21/09/2022, 08:11:49 UTC
I was scouting through internet and i came across this very interesting post on if Satoshi deserve a Nobel prize.
Infact many forums had discussed it
Infact a professor  Bhagwan Chowdhry at the University of California in the United States presented the proposal of Nobel prize for Satoshi stating that technology presented by Satoshi is the most significant development of the 21st Century and will have immense implications in the way finance will be conducted in the future

Personally i believe that Satoshi do deserve nobel prize for his work.
Especially after recent Ukraine crisis when we saw how donations could pour in in bitcoin. We saw how bitcoin can help people in events of war when banks were either closed or had frozen accounts.. People were homeless and short of money. We saw how bitcoin helped war affected people to overcome financial barriers and this showed the true potential of bitcoin and how it can support financial support and financial inclusion of poor and needy.

I believe for such a great contribution to science and humanity Satoshi do deserve a price, even when he is anonymous.

I request members to express their opinion as well.
Post
Topic
Board Bitcoin Discussion
Topic OP
Education Resources to learn bitcoin from scratch
by
Flyingjack123
on 20/09/2022, 13:06:23 UTC
Dear Members,

I am a non tech guy, with little knowledge of coding, block chain and how to use bitcoin.
I had been introduced here by one of my friends, who insists me that bitcoin is future and i should learn about it
 He said is to reading the posts of seasoned bit coiners  here will help me in learning about bitcoin and crypto.

I am still not being able to understand from where to start, and how to go forward.
I request if some of you can post about good resources from where i can learn about bitcoin and the best practices to follow for becoming a good future bitcoiner. I hope your replies will help more newbies and junior members like me.

Thank-you!!!